Status of Creditors in the Bankturptcy Proceedings
Vol.2,No.5(1994)
Abstract
Pages:
52–81
The term of a "creditor" ranks among terms used in the substantive legal branches. It originated in the Roman law already, however, at that time it was used in a narrow sense of the word in cases concerning monetary credits both in civil law and praetorial law. Further developement of privaíe law formed a stable position of the term in obligation law.
A creditor is a party to the bankruptcy proceedings, the status of a creditor in a narrow sense of the word being thus defined in § 7 stipulating that creditors are persons applying their claims. The stated definition implies that a person who is not endowed with legal subjectivity of the substantive nature and thus fails to have capacity to be a creditor in the frame of substantive law, may not be a creditor in the bankruptcy proceedings. It is not decisive whether private law or public law are in question. Domestic creditors as well as foreign creditors are endowed with the I same rights in the bankruptcy proceedings provided that reciprocity is guaranteed.
52–81
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