Last modified: 2013-10-29
The harmonization of insolvency law as part of the re-codification of private law
Article discusses the changes in bankruptcy legislation not only in relation to newly recruited civilian legislation from 1st January 2014, but also as a response to its current nearly five years experience of application. Also the social element of discharge from debts is further strengthened especially with a broader range of people for whom this method of remediation solutions will be considered. A fundamental change goes through in the system of determining who goes insolvency administrator for each of the proceedings, when the current nomination principle will be replaced by the principle of rotation. Changes are also expected in the way of the compensation of insolvency administrators. The county courts overloaded of insolvency should welcome package, which implementation assumes reducing their administrative burden (in particular certain time periods and cancellation of official boards and obligation to fly there their decisions).
new Civil Code, insolvency, insolvency administrator, bankruptcy, discharge of debts
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