Podstawy aksjologiczne ograniczenia prawa do głosowania nad układem w postępowaniach restrukturyzacyjnych (The Axiological Background of Restrictions on the Right to Vote on Composition Arrangements in Restructuring Proceedings)

Andrzej Wierciński

SWPS University of Social Sciences and Humanities

Law and Forensic Science, Volume 16 (2018/2), pages 35-40.

Submitted: November 20, 2018

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Abstract:  The article discusses the axiological background and the inherent values lying at the root of the provisions of the Restructuring Law which restrict certain creditors from exercising their right to vote in relation to the approval of composition arrangements in the course of restructuring proceedings. The axiology which leads to the exclusion of creditors who are connected in various ways with a debtor range from family connections to corporate relationships within the group of companies to which the debtor belongs. The potential for emotions to prevail in the case of family members or the unclear financial and business connections stem from the management and ownership corporate relationships are seen as a contradiction to the concept of an ideal creditor, who analyses the pros and cons of the prospective arrangement. A different axiology drives the exclusion of creditors who purchase debts after the initiation of restructuring proceedings. The article concludes that, as opposed to prevailing doctrine, the exclusion of those who purchase debts is driven not by the value of keeping such purchasers out of the restructuring picture, but rather to protect the opening of a market of debt trading in which a fair price can be achieved.

Keywords: restructuring law, creditor’s right to vote Continue reading “Podstawy aksjologiczne ograniczenia prawa do głosowania nad układem w postępowaniach restrukturyzacyjnych (The Axiological Background of Restrictions on the Right to Vote on Composition Arrangements in Restructuring Proceedings)”

Consumer Bankruptcy – the Direction of Legislative Changes

Paweł Wrzaszcz

John Paul II Catholic University in Lublin

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Law and Forensic Science, Volume 16 (2018/2), pages 29-34.

Submitted: October 24, 2018

The author declares there is no conflict of interest.

Abstract:  The proposed changes in relation to consumer bankruptcy may constitute a revolutionary legislative change in relation to debtors. Liberalization of regulations in this area will lead to increased amounts of announced consumer bankruptcies. It seems, however, that the proposed changes disturb the balance between the need to protect the interests of creditors and support the legal protection of the debtor. The key is to determine whether State’s task is to protect creditors against insolvent debtors or to support unreliable debtors. Too loose the introduction of legislative changes can significantly reduce social morale and encourage citizens to take unfair actions. The author undertakes an attempt to critically evaluate the proposed changes, referring both to its positive aspects and negative aspects. At the same time, he points out those legal solutions that may have negative consequences for legal transactions, as well as may be subject to negative public perception.

Keywords: bankruptcy, consumer law, law reform

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