Abstract

The Recommendations of the Ministry of Justice expert group for the reform of the Bankruptcy and Rehabilitation Law, published in December 2012, include a proposal for compulsory winding-up of insolvent companies whose assets are insufficient to cover the costs of bankruptcy proceedings. Such companies should be removed from the market and deleted from the register, even though in some cases full winding-up of all of their assets is impractical for economic reasons. Basing on the existing ideas for resolving the legal status of assets left behind by companies deleted from the register, it is proposed to recognize a limited degree of legal capacity of a company still in possession of assets after having been deleted from the register. Such limited legal capacity should enable the creditors to enforce their claims against the assets in question and/or to initiate additional winding-up of the company.