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This book investigates the taxation of companies under economic and financial distress. A company in economic distress has no or low profitability and a low going-concern value. On the other hand, a company in financial distress is a viable entity with current, but not necessarily long-term,...
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insolvency legislation in Bulgaria, Croatia, Czech Republic, Hungary, Poland and Romania, emphasising their inherent features and … building efforts. But their approach to insolvency and their determination to use the insolvency process as a selection … mechanism have varied widely. The aim of the paper is two fold. Firstly, we identify the role of insolvency procedures in TEs …
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Romania now has one of the best-drafted bankruptcy laws in Central and Eastern Europe. The new Romanian bankruptcy law went into effect on August 26, 1995 and replaced the previous bankruptcy provisions in §695-987 of the Romanian Commercial Code, which was translated from the Italian...
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This paper assesses the prospects of a 2021 time bomb in SME failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 "time-bomb" for SMEs. Rather, business failures and policy costs remain...
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