Insolvency Law

Indicative content

Introduction to insolvency law - concept, subject and sources of insolvency law. Historical development of the legislation. Basic concepts of insolvency law. Insolvency - extension and insolvency. Preventive forms of dealing with the imminent insolvency of a debtor. Methods of resolving debtor's insolvency - bankruptcy, restructuring, debt relief. Bankruptcy - petition for bankruptcy, particulars of the petition, persons entitled to file a petition for bankruptcy. Commencement of bankruptcy proceedings, effects of commencement of bankruptcy proceedings. Substantive and procedural conditions for declaring bankruptcy. Declaration of bankruptcy. Substantive and procedural effects of the declaration of bankruptcy. Decisions taken in insolvency proceedings. Service and publication of court decisions and other documents. Time limits. Legal position of the trustee. Appointment of the administrator. Rights and obligations of the trustee in bankruptcy, liability, creation and termination of the office of trustee in bankruptcy. Interim administrator. Intervention of third parties - Parties to insolvency proceedings. Termination of the status of a party. Claims of creditors, their filing, recognition and denial, actions for injunction. Creditors' bodies - meetings of creditors, creditors' committee, court as creditors' committee. Insolvency estate - definition, general estate and separate estates. Inventory of the bankruptcy estate, particulars of the inventory. Property subject to bankruptcy. Property not subject to bankruptcy. Exclusion of assets from the inventory. Administration and monetization of the bankruptcy estate. Claims against the estate. Satisfaction of claims of insolvent creditors. Claims excluded from satisfaction. Partial distribution, final distribution of proceeds. Abolition of bankruptcy. Small bankruptcy. Purpose and substance of restructuring. Comparison of restructuring with bankruptcy. Restructuring opinion. Application for authorization of restructuring. Commencement of restructuring proceedings, effects of commencement of restructuring proceedings. Authorization of restructuring. Parties to the proceedings and application of creditors' claims in restructuring. Creditor bodies. Supervision by the administrator and the court during restructuring. Restructuring plan, its approval and confirmation by the court. Ineffectiveness of the plan. Supervisory report. Separation of natural persons - general. Historical development of the legislation. Insolvency of a natural person in the form of bankruptcy. Insolvency of a natural person in the form of a repayment plan. International insolvency proceedings.