Comparative analysis of grounds for the commencement of insolvency proceedings

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Collection:
Mokslo publikacijos / Scientific publications
Document Type:
Žurnalų straipsniai / Journal articles
Language:
Anglų kalba / English
Title:
Comparative analysis of grounds for the commencement of insolvency proceedings
Authors:
Otenko, P. V
In the Journal:
Бізнес Інформ Business Inform, 2018, 3, 81-85
Subject Category:
LT
Verslas / Business; Ekonominė politika. Globalizacija. Integracija / Economic policy. Globalisation. Integration; Jungtinė Karalystė (Didžioji Britanija; Great Britain; United Kingdom, UK, GB); Lietuva (Lithuania); Vokietija (Germany); Civilinė teisė / Civil law.
Summary / Abstract:

ENThis article is called comparative analysis of grounds for the commencement of Insolvency Proceedings. The problematic issue that was raised is the following one – is it necessary to harmonize grounds for the commencement of insolvency proceedings within the EU? Author outlines and examines two basic grounds for the commencement of insolvency proceedings: cash-flow and balance sheet insolvency tests, their interpretation and application under English, German and Lithuanian laws. Comparative analysis of these laws has showed that each country specifies and understands concepts of cash-flow and balance sheet insolvencies in the different manners, applying different indicators for their determination. Taking into account gained results, it is desirable and advisable to harmonize grounds for the commencement of insolvency proceedings within the EU in order to facilitate economic and investment climates in its Member States. Keywords: insolvency; European Union; insolvency proceedings; cash-flow insolvency; balance sheet insolvency; harmonization.

ISSN:
2222-4459; 2311-116X
Subject:
Permalink:
https://www.lituanistika.lt/content/113908
Updated:
2026-02-25 13:53:35
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