Exercise of Collective Creditors‘ Rights in Corporate Bankruptcy Proceedings

This study focuses on the analysis of the problems of exercise of collective creditors’ rights in corporate bankruptcy proceedings and reveals the problems of legal regulation. It analyzes collective creditors’ rights, how they are defined and how they differ from the rights of individual creditors in bankruptcy proceedings. It also examines the position of creditors in bankruptcy proceedings, submission and approval of his claim, the problem of the dominant creditor and the reasons for the passivity of creditors in the bankruptcy process. The aim is to decide which models of exercise of collective creditors’ rights are established in bankruptcy laws of selected foreign countries and what are the similarities and differences between these models. The problem of exercise of collective creditors’ rights in creditors’ meeting and committee is analyzed. It examines how the proper participation of a creditor in creditors’ meeting and comittee is to be ensured and how they should be convened and organized. It also discusses how abuse of collective creditors’ rights is understood and what sanctions can be imposed for it. The control of exercise of collective creditors’ rights is examined. The author divides this judicial control into retrospective and prospective. Retrospective control over the exercise of collective creditors’ is related to the appeal of decisions already made in creditors’ meeting (committee) and the assessment of their legality in the court. Prospective control over exercise of collective creditors’ rights is linked to the court’s right to intervene in the resolution of issues assigned to creditors and in exceptional cases to make decisions on behalf of creditors