| Abstract [eng] |
In this paper author discusses insolvency, bankruptcy administrators status in mentioned legal field. Also paper includes analysis of Lithuanian laws related to bankruptcy and insolvency. Author while using multiple methods evaluates current laws and proposes his own ideas of ways for them to be developed in the future. According to author, biggest flaw is related with assigning the administrator. Current practice does not create precedent of transparency whilst keeping the process effective. Author gives his arguments about proposals to make process more transparent. Also paper mentions of restructuring administrators status, differences and similarities between two different processes are outlined. Also author outlines the same flaws in two different acts, which, according to author, may be harmful – both acts have to be corrected in order to maintain high quality of both processes. Author also analyzes historic laws, comments institutes that were used before current acts. In this paper author also analyzes acts of countries and regions like United States of America, Scandinavia, Baltic countries, Greece, Germany, Poland etc. In the end, author summarizes whole paper with conclusion summarizing whole paper and all of his ideas again concluded and presented in an clear way. |
