Premium
Reorganizing Czech Businesses: A Bankruptcy Law Reform under a Recession Stress‐Test
Author(s) -
Richter Tomáš
Publication year - 2011
Publication title -
international insolvency review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.125
H-Index - 7
eISSN - 1099-1107
pISSN - 1180-0518
DOI - 10.1002/iir.197
Subject(s) - insolvency , bankruptcy , czech , recession , empirical research , business , subject matter , accounting , test (biology) , law , economics , law and economics , financial system , finance , political science , macroeconomics , linguistics , philosophy , epistemology , curriculum , paleontology , biology
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.