Of Counsel, Clifford Chance LLP, Prague; Professor, Radboud University Nijmegen.
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Research Article
Reorganizing Czech Businesses: A Bankruptcy Law Reform under a Recession Stress-Test†
Article first published online: 7 OCT 2011
DOI: 10.1002/iir.197
Copyright © 2011 John Wiley & Sons, Ltd.
Additional Information
How to Cite
Richter, T. (2011), Reorganizing Czech Businesses: A Bankruptcy Law Reform under a Recession Stress-Test. Int. Insolv. Rev., 20: 245–254. doi: 10.1002/iir.197
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The article was written with the support of grant GAČR 403/10/1235 (2010–2014)—Institutional Reactions to Financial Markets Failure, and was presented at the annual meeting of INSOL Europe's Academic Forum in Vienna in October 2010. I owe many thanks to Barbora Dobrá and Matyáš Menšík for their invaluable help in gathering the data on the insolvency proceedings presented.
Publication History
- Issue published online: 10 NOV 2011
- Article first published online: 7 OCT 2011
Abstract
The new Czech Insolvency Act, featuring a brand new reorganization option for business debtors, has now been in force for over 3 years—a period of a severe downturn in the Czech (and the global) economy. This presents an opportunity to observe the workings of the new insolvency law on a “recession-loaded” empirical dataset extracted from the on-line insolvency register also introduced as part of the reform. This is the goal of this article, the subject matter of which is an initial empirical look at insolvency proceedings conducted over debtors whose reorganization attempts had been allowed in the years 2008 and 2009. Copyright © 2011 John Wiley & Sons, Ltd.