Publication: Insolvency and Creditor Rights Systems : Czech Republic
Date
2001-04
ISSN
Published
2001-04
Author(s)
Johnson, Gordon W.
Abstract
This report assesses the Czech
Republic's insolvency and creditor rights systems
pursuant to a joint International Monetary Fund-World Bank
program to observe compliance with international standards
and codes (ROSC) in areas pivotal to a country's
financial sector stability and market integrity. This
particular assessment is based on the World Bank Principles
and Guidelines for Effective Insolvency and Creditor Rights
Systems (Principles), and reviews compliance in four key
areas: (i) creditor rights (including secured transactions)
and enforcement procedures; (ii) the legal framework for
corporate insolvency; (iii) the regulatory framework to
implement the insolvency system, and (iv) the enabling
framework for credit risk management and informal corporate
workouts. These systems constitute an essential cornerstone
of commercial confidence and the bedrock for sound credit
management and resolution. The conclusions in this
assessment are based on a review of the Bankruptcy and
Composition Act, the laws dealing with the creation,
registration and enforcement of pledges and security
interests (e.g., Commercial Code, Civil Code, Civil
Procedure Code, Public Auctions Law, and the Execution Law),
and other relevant pieces of legislation.
Link to Data Set
Citation
“Johnson, Gordon W.. 2001. Insolvency and Creditor Rights Systems : Czech Republic. © World Bank: Washington, DC. http://hdl.handle.net/10986/14991 License: CC BY 3.0 IGO.”