The Bankruptcy Detection in Insolvency Proceedings in the Czech Republic

The Bankruptcy Detection in Insolvency Proceedings in the Czech Republic Abstract This rigorosum thesis presents a detailed interpretation of the term "bankruptcy" and its detection in insolvency proceedings in the Czech Republic. Detection of bankruptcy is considered to be the initial phase in the insolvency proceeding and is, in fact, identical for all insolvency proceedings. Despite common lack of attention, it is indeed a crucial stage since without proper hearing about bankruptcy and its adjudication one cannot continue in the insolvency proceeding. Eventually, the whole proceeding is encumbered with defect. Therefore, this thesis aims at introducing complex analysis of the first phase of each insolvency proceeding. This study first examines the term 'bankruptcy', both in the form of equity insolvency and balance-sheet insolvency. It lays particular emphasis on the latest amendment of act which came into effect in the second half of 2017 and which significantly adjusted definition of bankruptcy. This section also discusses imminent bankruptcy and conditions of its detection. Next chapter addresses the commencement of the insolvency proceeding and its impacts as well as all necessary requirements and appendixes of the insolvency petition. This paper distinguishes between insolvency petition filed by the..