The joint property of the spouses is created at the time of marriage by operation of law, unless there are statutory circumstances that preclude this (e.g., prior conclusion of a marital property contract, incapacitation of one of the persons about to marry or bankruptcy). The joint property of spouses is nothing more than property acquired..
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What are the reasons for the liquidation of the foundation?
According to Art. 15 of the Law of April 6, 1984. on foundations “in the event that the purpose for which the foundation was established has been achieved, or in the event that the foundation’s funds and assets are exhausted, the foundation shall be liquidated in the manner specified in the statute. If the statute..
What is a Liquidation Report?
The liquidation report shall be prepared as of the date preceding the distribution to the partners of the assets remaining after the satisfaction or security of creditors. The report is then presented by the liquidators to the shareholders, who should approve it by a resolution of the shareholders’ meeting thereby closing the liquidation of the..
What does it mean to entrust parental authority to one parent?
The family court, when declaring a divorce, may entrust the exercise of authority to one parent, limiting the parental authority of the other parent to certain duties and powers with respect to the child. In such a situation, the court in the divorce judgment will indicate to what rights and obligations it limits the parental..
The process of reporting the opening of a foundation’s liquidation
The adoption of a resolution to liquidate the foundation does not yet mean the loss of the foundation’s legal existence. The resolution to liquidate the foundation must be filed with the registry court. This is done by the selected liquidator on the appropriate application forms. The main application form should be accompanied by: 1.a resolution..
What happens to debts in consumer bankruptcy with no assets?
It may seem that the lack of assets prevents debt relief. This is not true, because if a consumer bankruptcy is filed, further debt relief proceedings may proceed according to various scenarios depending on the debtor’s financial situation:1.The court may establish a repayment plan for creditors – if the debtor has no assets, but has..
Consumer bankruptcy without assets – what does the court check?
In the case of consumer bankruptcy without assets, the court first of all checks whether the debtor actually has no assets. Thus, it is important to remember that their concealment may result in the rejection of the application.It is also not worthwhile to dispose of assets in order to avoid their seizure by the receiver,..
What is not subject to property division after divorce?
Personal property is property to which only one spouse holds legal title. Personal property primarily includes property acquired before the formation of statutory community, that is, de facto, before the marriage. Any property that a spouse owned before the marriage does not come into the joint property. Personal property also includes assets acquired during the..
What are the father’s rights after divorce? What is a mother entitled to after a divorce? What does it mean to entrust both parents with parental authority?
Ruling on parental authority and contact with the child requires the court to comprehensively consider the facts of the case, concerning both the child(ren) and the parents. The interest (welfare) of the child and the interest of society should be taken into account first, not the parents (cf. Supreme Court judgment of 25.08.1981, III CRN..
Who covers the costs of bankruptcy when there are no assets?
According to Art. 491 of the Bankruptcy Law if the assets and income of the insolvent debtor do not allow to cover the costs of the proceedings, the Treasury shall cover them temporarily. However, the debtor should return them under a debt repayment plan. Such reimbursement can be postponed until the debtor’s financial situation improves,..