Home  Journals  Finance and Credit  21(501) - 2012 June

Mechanisms of protection of debtor's and creditors' interests in bankruptcy procedures

Available online: 1 June 2012

Subject Heading: Crisis management

JEL Classification: 

Bankruptcy procedures should guarantee the balancing of creditors' and debtor's interests. It is reached by the presence in legislation of such measures as suspension of litigations, moratorium on debts' payments, management discharge, appointment of court administrator, differentiation of creditors' classes, creditors' voting procedure at decision-making, judicial intervention, control over administrator's activities, priority of operational expenditure, etc. Advantages and shortcomings of these maintenance mechanisms of debt collecting in bankruptcy procedures are described in the article.

Keywords: bankruptcy, debtor, creditor, efficiency, management, court administrator, moratorium

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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