Early warning of insolvency in the European Union law
- Authors: Adamus R.1
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Affiliations:
- University of Opole
- Issue: Vol 10, No 5 (2020)
- Pages: 89-94
- Section: Articles
- URL: https://journals.eco-vector.com/2223-0092/article/view/538018
- DOI: https://doi.org/10.33693/2223-0092-2020-10-5-89-94
- ID: 538018
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Abstract
Rapid diagnosis of the risk of an entrepreneur’s insolvency is of great importance for the socio-economic environment. This issue is of particular importance in the context of the financial crisis caused by the COVID-19 pandemic. The insolvency resulting in the announced bankruptcy brings a lot of harm to the debtors themselves (their shareholders), creditors and the entire economy. A much better solution is the restructuring of the debtor. For the purposes of predicting insolvency can be used Artificial Intelligence although traditional methods are also in use. For these reasons, in European Union law, the Restructuring Directive focuses on the anticipation of debtor’s insolvency. The text refers to possible directions for the implementation of the directive in national laws. The aim of the study is to analyze the available methods of early warning against insolvency. As a result of the research, the ways of implementing the Directive were proposed.
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About the authors
Rafał Adamus
University of Opole
Email: adamus_rafal@wp.pl
prof. UO Dr. Hab. Opole, Poland
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