This master thesis examines how the Danish Bankruptcy Act’s new rules on bankruptcy quarantine shall be interpreted and which problems may arise as a consequence of the law. The thesis further examines the background for the amendment of the law, the current rules on bankruptcy and which similar rules apply in Norwegian and English law. First, the thesis examines the current Danish rules on bankruptcy and then the background for the amendment of the Bankruptcy Act. Second, the thesis examines how the new rules on bankruptcy quarantine shall be interpreted, by looking into preparatory legislative work and existing literature. This part of the thesis includes an examination on which problems that may arise as a consequence of the law’s expression and wording. To round of this chapter of the thesis, it is concluded that a person may be subject to bankruptcy quarantine if that person has participated in the management of a bankrupt company and showed grossly irresponsible business conduct. Further is it concluded that the legal effects of the bankruptcy quarantine are, that the person who is subject to quarantine loses the right to participate in the management of businesses without being personally liable and unlimited. The quarantine period will as a rule, be imposed for a period of three years, but may be deviated in certain cases. A violation of the bankruptcy quarantine can result in both civil and criminal penalties, where the extent of the quarantine can be expanded or the person may be punished by fine or imprisonment up to 6 months. The Danish government, Erhvervsstyrelsen, is responsible for a bankruptcy quarantine register, where the persons who are imposed quarantine will be registered. As a consequence of the rules, it is only the Danish authorities that can gain insight in the registered information, if the information is necessary for the performance of their duties. Through the analysis it is discovered that there is a risk that there can arise problems in relation to, for example, the bankruptcy trustee and the management of the company, ownership rights and ineligibility, which are examined in the thesis. Finally, this master thesis provides a perspective to Norwegian and English law. In connection to this perspective, I have outlined a number of proposals to how the Danish law could be improved with inspiration from Norwegian and English law.
|Educations||MSc in Auditing, (Graduate Programme) Final Thesis|
|Number of pages||89|