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Pre-Packed Insolvencies

Author

Listed:
  • Tereza Voráčková
  • Alexandr Potůček
  • Filip Sýkora
  • Jaroslav Schönfeld

Abstract

This paper focuses on pre-packed insolvencies prepared in the Czech Republic according to Act No. 182/2006 Coll. on bankruptcy and settlement. The analysed time period covers the years 2008-2017. The data sample contains all identified pre-packed insolvencies from the insolvency register and the financial data was extracted from the Albertina corporate database. Pre-pack insolvencies are insolvencies that begin with an insolvency proposal and accompanied by a reorganisation plan already approved by creditors. First, the paper describes the sample from different points of view and is focused on the size of the enterprise, the field of activity, the length of insolvency proceedings and the proposed insolvency administrator accompanied by an expert. Second, the paper analyses the financial situation of affected companies. The evaluation of the financial situation is based on IN indices. The insolvency proposal with a suggested reorganisation can be solved differently. The reorganisation does not need to be approved by the court or if approved, can be turned in the bankruptcy during the insolvency proceedings. The results of pre-packed insolvencies in the case of successful rehabilitation or bankruptcy are the most important findings.

Suggested Citation

  • Tereza Voráčková & Alexandr Potůček & Filip Sýkora & Jaroslav Schönfeld, 2018. "Pre-Packed Insolvencies," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2018(4), pages 3-11.
    • Handle: RePEc:prg:jnlaop:v:2018:y:2018:i:4:id:608:p:3-11
    DOI: 10.18267/j.aop.608
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    References listed on IDEAS

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    1. Lee, Seung-Hyun & Yamakawa, Yasuhiro & Peng, Mike W. & Barney, Jay B., 2011. "How do bankruptcy laws affect entrepreneurship development around the world?," Journal of Business Venturing, Elsevier, vol. 26(5), pages 505-520, September.
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    More about this item

    Keywords

    insolvency; insolvency proceedings; bankruptcy; Czech Republic;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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