| Abstract [eng] |
Conditions and Consequences of Bankruptcy of Natural Persons: Comparative Analysis This master thesis discusses the bankruptcy of natural persons. A legal mechanism to deal with bankruptcy of natural persons was also known in Roman law, however, in Lithuania the possibility to use this mechanism exists just since 2013 – after the adoption of Law on Personal Bankruptcy in Lithuania. General provisions as: the concept, development and statistics of natural person‘s bankruptcy, explanation of legal terms “bankruptcy” and “insolvency” (referring to a bankruptcy of a natural person) and the main purposes of legal mechanism of natural person‘s bankruptcy are discussed in the first part of the thesis. The second part of these thesis focuses on the main conditions of bankruptcy of natural persons, which are necessary to request bankruptcy proceedings. It should be noted, that this issue is analyzed not only in the context of Lithuania’s legal system, but also in other foreign countries’ legislation. The comparative analysis highlights the peculiarities, similarities and differences between different countries. Finally, the third part of these thesis explains the consequences that may arise from bankruptcy proceedings. It should be noted, that consequences are analyzed by means of different bankruptcy methods, which are used in different countries. After the analysis of the consequences which are used for debtors in different countries, a comparative analysis is provided. |
