Abstract

The Restructuring Law does not exclude the possibility of restructuring a debtor also by liquidation (sale) of all of their assets, which is determined by the possibility of the debtor to file an arrangement proposals assuming liquidation of the debtor’s assets, pursuant to Art. 159 of the Restructuring Law. However, liquidation of all assets is possible only under an approved liquidation arrangement. Otherwise, in the course of rehabilitation proceedings, the sale of their enterprise or an organised part thereof is impossible. The provisions of Art. 323 of the Restructuring Law exceptionally, as an element of rehabilitation (remedial) measures, allow the sale of the debtor’s assets that are not needed for the conduct of the debtor’s business, which may prove salutary from the point of view of improving the condition and structure of the enterprise. However, the sale under the discussed procedure cannot lead to the liquidation of the debtor’s enterprise. The sale in this case is complementary to other restructuring measures specified in the restructuring plan.