Open AccessModels of Bankruptcy Procedures in European Union
Author(s) -
Paweł Dec,
Piotr Masiukiewicz
Publication year - 2016
Publication title -
business and management horizons
Language(s) - English
Resource type - Journals
ISSN - 2326-0297
DOI - 10.5296/bmh.v4i2.10275
Subject(s) - insolvency , bankruptcy , economic shortage , european union , bankruptcy prediction , accounting , actuarial science , business , member states , economics , finance , international trade , linguistics , philosophy , government (linguistics)
This paper focuses on the analysis of comparative models bankruptcy in selected EU countries and the evaluation of the effectiveness of the insolvency proceedings. These models are quite similar in the countries concerned; also they give the opportunity to the many variants of the bankruptcy procedure. The main thesis of the article is—so far developed and applied models of bankruptcy are still insufficient and need to be improved and reorientation to a greater extent, particularly concerning the taking into account of weak signals from the business environment. The authors analyzed the relevant theories of the firm and its reference to bankruptcy, presented various models of insolvency procedures in selected EU member states, analyzed the so-called European Company for bankruptcy. Complementing the paper detailed research on the effectiveness of insolvency proceedings in many countries. Included in the text of the conclusions show the shortage of both in theory and in practice, a comprehensive solution to the problem of insolvency proceedings.