Problemy ze zgodnością postępowania upadłościowego i arbitrażu

Abstract

In this article, the problems of compatibility of insolvency proceedings with arbitration in the Lithuanian legal system are presented in a comparative context. The Law on Commercial Arbitration provides that disputes arising from bankruptcy may not be submitted to arbitration. Although this provision is ambiguous and leaves some room for interpretation, the court practice of Lithuanian courts is restrictive and prohibits continuation of arbitration proceedings where a party to arbitration is a company in bankruptcy. The draft Law on Commercial Arbitration has been submitted to the Lithuanian Parliament, which intends to impose a more arbitration-friendly approach and to enable continuation of pending arbitration proceedings after the opening of insolvency proceedings against a party to arbitration. A cautious opinion is expressed in the present article about the intended legislative reform. Although the legislative proposal is more in line with the predominant regulations in European countries, there are some doubts whether an arbitration court has sufficient powers to prevent possible abuse of creditors and administrators sometimes occurring in insolvency relations.