Insolvency Proceedings and Court Payment Orders – Legal Problems

Abstract

This paper deals with the treatment of court payment orders in
connection with domestic insolvency proceedings.
At the outset the paper presents some general legal problems
connected with the legal definition of the term “trader” or “merchant” in
order to define the circle of persons covered by the provisions of
insolvency regulations. After brief explanation of the court proceedings
for the issuance of payment orders, the paper further analyzes practical
problems connected with execution of payment orders in accordance
with the status of the debtor and in connection with the opening of
insolvency proceedings.
In conclusion the author proposes complete reform of domestic
laws and regulations which deals with this issue, because he believes that
they are completely outdated and do not correspond with reality.