SOME CONSIDERATIONS REGARDING THE NECESSITY OF CONCRETIATION OF RESTRUCTURING MEASURES WHICH ARE PRESCRIBED IN THE IMPROVEMENT PROJECT IN THE STAY OF INSOLVENCY PROCEEDINGS
Öz
The stay of insolvency proceedings prevents the insolvency of especially
over-indebted capital companies in the existence of some conditions. A detailed
and conclusive improvement project regarding the existence of prospect of
financial restructuring must be submitted to the court for the stay of insolvency
proceedings. The evaluation of the improvement project by the court or experts
requires the concretisation of the measures of restructuring (improvement) which
are prescribed in the improvement project. If the concretisation of measures of
restructuring regarding the improvement project is not possible, the court will
not be able to evaluate if there’s prospect of financial restructuring or possibility
to emerge from overindebtedness. Thus, the request of the company for the
stay of insolvency proceedings may be rejected by the court. In this situation,
the companies are sometimes confronted with unexpected consequences. In
our study, we are going to consider how and in what way the general measures
of restructuring prescribed in the improvement project can be concretized.
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