Socialinis Aspektas Vertinant Kreditorių Reikalavimų Eiliškumą Bankroto Bylose (Evaluation of Social Aspect of Creditors Claims Rating in Bancruptcy Cases)

Gediminas Mesonis et al., eds. Viešosios Teisės Raida: De Jure Ir De Facto Problematika (The Development of Public Law: De Jure and De Facto Issues). Scholarly Study. MES, 2013, pp. 45-65

Posted: 10 Sep 2013

Date Written: July 1, 2013

Abstract

Vienas iš pagrindinių bet kurio bankroto proceso tikslų – per įstatyme nustatytų bankroto procedūrų vykdymą užtikrinti, kad būtų visiškai arba iš dalies patenkinti įrodymais pagrįsti bankrutuojančios įmonės kreditorių reikalavimai, tačiau tenkinant kreditorių reikalavimus, laikomasi ne tik proporcingumo, tačiau ir reikalavimų tenkinimo eiliškumo tarp skirtingų kategorijų kreditorių principo. Istorinės, ekonominės bei socialinės aplinkybės nulėmė tokią kreditorių reikalavimų tenkinimo praktiką, kuomet vieniems kreditoriams teikiamas prioritetas prieš kitus. Tokios nelygybės pagrindas – socialinis kreditorių teisių gynimo aspektas. Dėl to bankrutuojančių subjektų kreditoriai buvo ir tebėra skirstomi į privilegijuotus ir įprastus kreditorius. Tiesa, ne visuomet buvo vieningai sutariama, kurias kreditorių grupes laikyti privilegijuotomis ir koks yra privilegijos pagrindas.

The most topical question in the bankruptcy proceedings, both of natural and legal persons is the satisfaction of creditors’ claims. As a rule, the bankruptcy proceedings are characterized by plurality of creditors, and the proportionality is the basic principle of payments to creditors during the bankruptcy process. The present rule is a problem not only in modern law, but also at the time when active development of bankruptcy (insolvency) law started, since any bankruptcy proceedings are socially sensitive and affect all the participants of insolvency procedures, especially certain types of creditors, such as employees, dependants, etc. It is important not only to state the existence of creditors claim order, but also to understand and assess the reasons of such legal sequence of creditors’ claims, principles and rules.

One of the key factors in determining priorities among creditors is criteria of social vulnerability.

The main objective of the article is to assess the application of proportionality principle in bankruptcy proceedings with regard to social dimension of creditors’ claims order.

The objectives of this paper are: to analyze legal framework of the creditors’ claims in bankruptcy proceedings, to examine the sorts of social benefits and their emergence in bankruptcy (insolvency) law in the historical perspective, and to compare the social dimension in modern bankruptcy law.

The historical, comparative methods and analysis of legislation and case law are used in this paper.

The degree of social vulnerability determines distinction between the privileged and not privileged creditors. During the debtor’s insolvency or bankruptcy proceedings this distinction allows taking priority in claim satisfaction for the most vulnerable creditors. The priorities between the groups of creditors have changed during the formation process of bankruptcy (insolvency) law: the priorities shifted from the defense of the State and the church interests to the defense of the interests of employees and dependents.

There is competition of two fundamental characteristics (in the classification of preferred creditors of up to 1940 in the Lithuanian Republic): creditor’s social vulnerability (employees, wards, dependants, etc.) and the public interest in protecting certain types of creditors (the State, the church, etc.). However, to summarize the assignment principles of debts to certain privileged class (row), clear priorities have been given for those groups of creditors, whose social vulnerability or public interest aspect was higher. Taking into account the political situation, therefore, the privileged classes of creditors were distributed as follows: employees, State, church, public institutions, foster children.

According to the modern bankruptcy law, the employees are almost unanimously attributed to the primary creditors in majority of countries. The more vulnerable groups are persons claiming damages awards or wards. They do not only belong to the first row creditors, but also they often preserve their rights of claim even after the debtors bankruptcy is over. The priority of the claims related to the purchase of agricultural production under the laws of the Republic of Lithuania can be attributed to rather rare privileged class of creditors, as such group is not characteristic for the bankruptcy laws in other states.

Note: Downloadable document is in Lithuanian.

Keywords: bancruptcy, bankruptcy case, insolvency, creditor’s claims rating, advantaged creditors

Suggested Citation

Spaiciene, Jurgita, Socialinis Aspektas Vertinant Kreditorių Reikalavimų Eiliškumą Bankroto Bylose (Evaluation of Social Aspect of Creditors Claims Rating in Bancruptcy Cases) (July 1, 2013). Gediminas Mesonis et al., eds. Viešosios Teisės Raida: De Jure Ir De Facto Problematika (The Development of Public Law: De Jure and De Facto Issues). Scholarly Study. MES, 2013, pp. 45-65 , Available at SSRN: https://ssrn.com/abstract=2322476

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