Impact of the Amendment of 14 April 2023 in the Field of Bankruptcy Law on the Debt Collection Function of Bankruptcy Proceedings

Abstract

The publication analyses the impact of the amendment to the bankruptcy law on the basis of the Act of 14 April 2023 on Amending the Act on Investment Funds and Management of Alternative Investment Funds, the Act on Bonds, the Act on the Bank Guarantee Fund, the Deposit Guarantee Scheme and Compulsory Restructuring, and some other acts, on the debt collection function of the bankruptcy law. Article 8 of the Act of 14 April 2013 modifies institutions of the bankruptcy law, insolvency and the order of satisfying creditors. The correct formation of these institutions is vital for the implementation of the debt collection function of the bankruptcy law. Therefore, the debt collection function was first characterized. Then, the institution of insolvency, the order of satisfying creditors and the normative modifications of these institutions introduced by the amendment in question and their impact on the debt collection function of the bankruptcy law have been analysed. The publication also discusses changes to the scope bankruptcy proceedings in respect of banks and cooperative savings and credit funds.