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Abstract

Debtor´s bankruptcy is defined by act. No. 182/2006 Coll., as the situation when the debtor has more creditors, debts beyond 30 days overdue and which is not able to perform. This situation can be solved by several ways, depending on the bases of the debtor´s obligations. It means base of the debtor´s performace – from business or private needs. The most frequent way today is the liquidation proceeding. There are some differences between liquidation proceeding of business debts and debts from private needs. Business debts are satisfied by realization of debtor´s property but debt´s from private life are satisfied by the schedule of payments.

Description

Import 04/07/2011

Subject(s)

Bankruptcy Law, Bankruptcy, Insolvency Administrator, The Creditors Committee, Debt Relief, Bankruptcy, Reorganization, Estate, Application Form to Receivables, Secured Creditor, Unsecured Creditor, Partial Schedule, Final Report, Final Schedule, Adjustments to Receivables

Citation