Jūratė Kapočiūtė
Diplomantė:
TS 3/1 gr. studentė
Diana Kokovina
Kaunas 2006
SUMMARY
Prepared by: Diana Kokovina
Theme: Legal Assessment of the
Projects on the Bankruptcy Law
Advisor: Jurgita Spaičienė
Educational institution: Kaunas
College
Year: 2006
Pages: 57
The graduating paper highlights that bankruptcy procedures have been regulated by laws of Lithuanian Republic for 13 years already. It has been noticed that when new legislation acts or new amendments are introduced new legislation gaps are not evaded. The present Bankruptcy law has many flaws which obstruct the implementation of suitable and fair bankruptcy law legislation and the achievements of the targets of this law. Therefore, the flaws in the bankruptcy law should be checked and corrected when the new legislation is promoted together with new concepts for amendments or supplements.
The subject of the graduating paper are the projects on bankruptcy procedures. The analysis of the documents for this research showed that at present there exists just the only one project which provides a number of items on revising and supplementing bankruptcy procedures. While exploiting the method of system analysis, historical and comparative methods, the author of the graduating paper resolved to achieve the aim of this paper to perform a complete analysis of this project and to formulate it’s legal assessment.
The analysis of the project itself disclosed the areas of the main flaws of the bankruptcy law: 1) the interests of creditors and (other stakeholders) are not completely secured, 2) the procrastination of the procedures of bankruptcy is a frequent phenomenon, 3) the insufficient responsibility of the bankruptcy administrator, 4) the payments of debts to the creditors of the enterprise, 5) the incompatibility of Bankruptcy law with other legislation acts on bankruptcy.
The conclusions are as follows that legislative proposals should be reviewed and supplements to the existing Bankruptcy law are positively assessed due to the fact that they could be implemented to correct the flaws...
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