On the Nature of the Bankruptcy Proceeding

The author of the essay tries to characterize the bankruptcy proceeding, pro­ceeding from the definition of the said proceeding as a specific form of the civil proceeding, from its relationship with the execution proceeding and considering also the position of the settlement proceeding. Beyond that it is also impossible to avoid the problem of the relationship of the bankruptcy proceeding and commercial/civil law.

There are several contradictory opinions of the position of the bankruptcy proceeding. Basically, they could be divided into three groups as follows:
1. Bankruptcy proceeding is a specific form of the civil proceeding.
2. Bankruptcy proceeding is a special form of the execution proceeding.
3. Banlauptcy proceeding is a part of the civil proceeding.

We follow the opinion listed as number one, i.e. the bankruptcy proceding is a relatively independent form of civil proceeding. There are several arguments sup­porting this view.

In the remainder of the essay the author analyzes the differences between the classical conception of bankruptcy proceedings and its modern form. The concepti­ons of bankruptcy proceedings valid in Germany, Austria and France are compared with each other.