Bankruptcy plan as a third model for sport clubs

Abstract

Bankruptcy doesn't necessarily mean a liquidation of the sport club, trough bankruptcy plan (restructuring plan) it can also mean a new start. The bankruptcy law doesn't set any restriction on how pursuit of activities will be arranged between bankruptcy debtors and creditors in bankruptcy. Abuse of right is forbidden. It may be useful to indicate that legal representatives of the debtors can submit a bankruptcy plan together with petition to open a bankruptcy proceeding to the commercial court till opening of the bankruptcy proceeding. In case bankruptcy is opened submission of the plan the exclusive right of a trustee in bankruptcy.

Keywords

• bankruptcy
• sport clubs
• new model