SAVO TURTU DISPONUOJANČIO SKOLININKO PRINCIPO TAIKYMAS ĮMONIŲ RESTRUKTŪRIZAVIMO PROCESE

Abstract

Corporate restructuring is a measure which seeks to preserve a company with solvency problems. One of the essential features of the restructuring process is that the company’s activities continue to be managed by the company’s management bodies during this process (debtor in possession principle), but in certain cases an insolvency administrator may also be appointed to administer this process. This article examines the content of the principle of debtor in possession, analyzes why it is applied in the restructuring process and how its application allows achieving the goals of the restructuring process. It analyzes the content of this principle in the insolvency law of the European Union and Lithuania and what are the functions of the insolvency administrator after his appointment in the restructuring process. It also examines what functions the insolvency administrator should perform in the restructuring process and how the functions performed by him are compatible with the competence of the company’s director.