Law of Insolvency vs. Law on Preventive Composition with Creditors and the Ad Hoc Mandate
The 2nd Global Conference on RO-RUS-NIPPONICA, December 17-18, 2011 Moscova
8 Pages Posted: 19 May 2014
Date Written: December 17, 2011
Abstract
The author, through the present paper, aims at providing a brief comparative overview of the legal mechanisms most used by commercial entities as remedies for acute financial problems or preventing such a financial state – the judicial reorganization procedure, the bankruptcy procedure, the preventive composition with creditors and the ad-hoc mandate. Main points analised in comparison: definitions, legal characteristics, subjects eligible for the procedures, main legal bodies engaged in the procedures, the specific legal effects the procedures give birth to.
Keywords: receivership, bankruptcy, ad hoc mandate, composition with creditors, insolvency, financial difficulties
JEL Classification: K29
Suggested Citation: Suggested Citation