×

Cookie Consent

This website uses cookies or similar technologies, to enhance your browsing experience and provide personalized recommendations. By continuing to use our website, you agree to our Privacy Policy

doi
doi.org/10.36475/L.A.W.14
ABBREVIATED TITLE
L.A.W.
Issue
Online version
Print version
Last issues


In this Article

Volume 8, issue 4

A person authorized to manage and represent a debtor community in the regime of rehabilitation

Authors: Meri Ketiladze

Meri Ketiladze

Doctoral candidate of Caucasus International University, Guest lecturer of the same university

Email: meri.ketiladze@ciu.edu.ge



Affiliation: Doctoral candidate of Caucasus International University, Guest lecturer of the same university

Abstract: The rights and duties of the director in entrepreneurial activities are regulated by both the 1994 and 2021 editions of the Law of Georgia “On Entrepreneurs”. The powers assigned to him/her include leadership and representation of the entrepreneurial company. The legal relations of the director often goes beyond the scope of corporate law. Accordingly, the rights and duties established by other fields of law apply to him. One of them is the law of insolvency, which provides for the director’s involvement in such a regime as the rehabilitation regime. In the paper, the role of the director is considered within the framework of the regulation of the law of insolvency, the rehabilitation regime, which is regulated by the law of insolvency. In addition to reacting to the imperatively determined action, the law obliges the director to assess the evaluable and foreseeable circumstances and to take appropriate action on it. The topic is relevant and interesting, because in addition to the civil liability towards the director, criminal liability may also be considered. In order to properly discuss the topic provided by the article, the laws on Insolvency Procedings and on Rehabilitation and Collective Satisfaction of Creditors are compared with each other. Decisions/rulings of the general courts of Georgia have been used in the paper in order to clarify the position of the court regarding the issue. And, in certain cases, the legal norms of different countries and foreign language literature are cited in the article for the purpose of making a comparison.

Keywords: Insolvency, Restructuring Regime, Manager,


Language: GE

views: 8753
Download




BIBLIOGRAPHY:

Used literature:

  1. Bakakuri N., Gelteri M., Tsertsvadze L., Jugheli G., (2019). Corporate Law Handbook for Lawyers.
  2. Braun B., (2010). (Hrsg.) InsO Kommentar, 4. Aufl. § 18, Rn.
  3. Brawn M., German Insolvency Law – an overview.
  4. Chanturia L., Ninidze, T., (2002). Commentary on the Law on Entrepreneurs, 3rd edition.
  5. Exposure of Managing Directors of Austrian Corporate Entities in Times of COVID-19, February 2, 2022.
  6. Fisch., (2000). The Peculiar Role of the Delaware Courts in the Competition for Corporate Charters, University of Cincinnati Law Review.
  7. Jugeli G., (2010). Protection of capital in a joint-stock company, Tbilisi.
  8. Lazarishvili L., (2009). Official contract with the director of the company, Theoretical and practical issues of modern corporate law, Tbilisi, publishing house: Meridiani; Tinatin Tsereteli State and Law Institute
  9. Makharoblishvili G., (2015). General analysis of corporate governance, (comparative legal research) Tbilisi, Journal: World of Lawyers.
  10. Martinez G., (2017). Re-Examining the Law and Economics of the Business Judgment Rule: Notes for its Implementation in Non-US jurisdictions, Working Paper Series.
  11. Millaudon v P., (2019). 8 Mart. (n. s.) 68, 77-78 (La. Supreme Court, 1829); Criddle, Miller & Sitkoff, the Oxford handbook of fiduciary law.
  12. Migriauli, R., (2021). Brief guide to entrepreneurial law. Tbilisi, publishing house: Sezani.
  13. Migriauli R., (2016). Issues of Georgian private law, Second completed edition, Tbilisi.
  14. Migriauli, R., (2003). Origin and termination of the legal relationship between the limited liability company and the director, Journal: Notariat, Notarial and Private Law Review N1.
  15. Meskhisvili, K. et al., (2021). Fundamentals of In-solvency Proceedings under the Law of Georgia On Rehabilitation and Collective Satisfaction of Creditors, Tbilisi, publishing house: GIZ.
  16. Schnitger H., Migriauli R., (2011). Insolvency Law., Characterization and comparison with Georgian bankruptcy law and international standards, Tbilisi, publishing house: Siesta.
  17. Shalchi A., (2022). Directors' responsibilities during insolvency, House of Commons Library.
  18. Shalchi A., (2021). Corporate Insolvency and Governance Act 2020, House of Commons Library

Normative material:

  1. LAW OF GEORGIA ON INSOLVENCY PROCEEDINGS http://matsne.gov.ge/document/view/23572?publication=31 [Last seen: November 24, 2022].
  2. Explanatory card on the draft law of Georgia On Rehabilitation and Collective Satisfaction of Creditors. http://info.parliament.ge/ file/1/BillReviewContent/245931>[Last seen: November 24, 2022].
  3. The Law of Georgia on Entrepreneurs.
  4. Law on rehabilitation and collective satisfaction of creditors. http://matsne.gov.ge/document/view/4993950?publication=0 [Last seen: November 24, 2022].
  5. Austrian Insolvency Code. http://www.rautner.com/wp-content/uploads/2016/05/3645187_Austrian_Insolvency-Code_ENG.pdf>[Last seen: November 24, 2022].
  6. DIRECTIVE (EU) 2019/1023 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 20 June 2019.

Judicial practice:

  1. Decision of the Supreme Court of Georgia of May 6, 2015. Case No. AS-1307-1245-2014 http://www.supremecourt.ge/files/upload-file/pdf/+news-mnishvnelovani-ganmarteba78-(1).pdf> [Last seen: November 24, 2022].
  2. Judgment of the Supreme Court of Georgia dated October 21, 2019. Case No. AS-1077-2018. http://prg.supremecourt.ge/DetailViewCivil.aspx[Last seen: November 24, 2022].
  3. Judgment of Tbilisi City Court of January 17, 2018, case No. 2/25704-15.
  4. Judgment of Tbilisi City Court of December 20, 2021, case N2/32145-21. http://matsne.gov.ge/document/view/5352736?publication=0 [Last seen: November 24, 2022].
  5. Judgment of Tbilisi City Court, case N2/5373- 22. http://matsne.gov.ge/document/view/5410220?publication=0[Last seen: November 24, 2022].
  6. Judgment of Tbilisi City Court of April 23, 2021, in case N2/8629-21. http://matsne.gov.ge/ka/document/download/5158898/0/ge/pdf
    7. [Last seen: November 24, 2022].

სქოლიო:

  1. Rehabilitation and of creditors collective satisfaction about Law, Article 6.1.
  2. Rehabilitation and of creditors collective satisfaction about Law, Article 7.1.
  3. Braun B., (2010). (Hrsg.), InsO Kommentar, 4. Aufl. § 18, Rn. 7-8.
  4. Jugeli G., (2010). Capital Protection Shareholder In the community, Tbilisi. p.271
  5. Meskhishvili K., Batlidze g., Amisulashvili N., Jorbenadze S., (2021). Insolvency case production Basics of rehabilitation and of creditors collective satisfaction About Georgia _ of the law According to, publishing house: GIZ, Tbilisi. p. 29. http://lawlibrary.info/ge/books/ GIZ_Insolvency-reader_2021.pdf
  6. The Law of Georgia on Entrepreneurs, Article 51.
  7. Makharoblishvili G., (2015). Corporations management general Analysis, (comparatively – legal research) Tbilisi, Publishing house: Lawyers the world p.92.
  8. Bakakuri N., Gelter M., Tsertsvadze L., Jugeli G., (2019). corporate law manual for lawyers. p.200.
  9. Shalchi A., (2022). Directors' responsibilities during insolvency, House of Commons Library. p.4
  10. Shalchi A., (2021). Corporate Insolvency and Governance Act 2020, House of Commons Library. p.21.
  11. Explanatory Rehabilitation card and of creditors collective satisfaction About Georgia _ of the law on the project. p.8.
  12. Rehabilitation and of creditors collective satisfaction about Law, Article 44.1.
  13. Rehabilitation and of creditors collective satisfaction about Law, article 18.1 and paragraph 2
  14. Rehabilitation and of creditors collective satisfaction about Law, Article 18.3
  15. Rehabilitation and of creditors collective satisfaction about Law, Article 44.2.
  16. The Law of Georgia on Entrepreneurs, Article 9.9. consolidated Version – 15.07.2020.
  17. Rehabilitation and of creditors collective satisfaction about Law, Article 16.1.
  18. Judgment of the Supreme Court of Georgia dated October 21, 2019. Case No. AS-1077-2018. http://prg.supremecourt.ge/DetailViewCivil.aspx [Last seen: November 22, 2022].
  19. Brawn M., German Insolvency Law – an overview. p.3. http://www.mayerbrown.com/-/media/files/perspectives-events/publications/2016/08/german-insolvency-law--an-overview/files/get-the-full-report/fileattachment/german_insolvency_oct_14_a4.pdf>
  20. Exposure of Managing Directors of Austrian Corporate Entities in Times of COVID-19, February 2, 2022. http://knoetzl.com/exposure-of-managing-directors-of/
  21. Austrian Insolvency Code, Section 69.2.http://www.rautner.com/wp-content/uploads/2016/05/3645187_Austrian_Insolvency-Code_ENG.pdf
  22. Millaudon V P., (2019). 8 Mart. (ns) 68, 77–78 (La. Supreme Court, 1829); Criddle, Miller & Sitkoff, the Oxford handbook of fiduciary law. p.877.
  23. Fisch, (2000). The Peculiar Role of the Delaware Courts in the Competition for Corporate Charters, University of Cincinnati Law Review. p.1063.
  24. Martinez G., (2017). Re-Examining the Law and Economics of the Business Judgment Rule: Notes for its Implementation in Non-US jurisdictions, Working Paper Series. p.5.
  25. Decision of the Supreme Court of Georgia of May 6, 2015. Case No. AS-1307-1245-2014. http://www.supremecourt.ge/files/upload-file/pdf/+news-mnishvnelovani-ganmarteba78-(1).pdf[Last seen: November 23, 2022].
  26. The Law of Georgia on Entrepreneurs 2021. 51.1.
  27. Judgment of Tbilisi City Court of January 17, 2018, case No. 2/25704-15.
  28. Migriauli R., (2021). Entrepreneurial of law short Textbook, Tbilisi, publishing house: Sezani. p.111-113
  29. Law on Insolvency Proceedings, Article, 44.4.
  30. Chanturia L., Ninidze T., (2002). Commentary on the Law on Entrepreneurs, 3rd edition. p.303.
  31. Migriauli R., (2003). Origin and termination of the legal relationship between the limited liability company and the director, Journal: Notariat, Notarial and Private Law Review N1. p. 36.
  32. Lazarishvili L., (2009). official contract of the company with the director Modern corporate of law theoretical and practical Issues, Tbilisi, publishing house: Meridiani; Tinatin Tsereteli State and Law Institute. p.309.
  33. Schnitgeri H., Migriauli R., (2011) Insolvency Law, Characterization and Comparison with Georgian Bankruptcy Law and International Standards, Tbilisi. p.12.
  34. See_DIRECTIVE (EU) 2019/1023 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 20 June 2019. CHAPTER 2, Article 5.1. http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32019L1023&qid=1649747230750
  35. Migriauli R., (2016) Issues of Georgian private law, second edition, Tbilisi. p.145
  36. Judgment of Tbilisi City Court of December 20, 2021, case N2/32145-21. http://matsne.gov.ge/document/view/5352736?publication=0 [Last seen: November 24, 2022].
  37. Judgment of Tbilisi City Court, case N2/5373-22. http://matsne.gov.ge/document/view/5410220?publication=0Last seen: November 24, 2022].
  38. Judgment of Tbilisi City Court of April 23, 2021, in case N2/8629-21.http://matsne.gov.ge/ka/document/download/5158898/0/ge/pdf> [Last seen: November 24, 2022].
Abstract - Journal Law and World
Editor in Chief
Ioseb Kelenjeridze
Publishing language
Georgian
English
French
German
Spanish

dealSeal

Copyright ©2022 All rights reserved