SANCTIONS AND THEIR ROLE IN PREVENTING THE APPROPRIATION OF THE CREDITOR’S PROPERTY RIGHTS IN BANKRUPTCY PROCEEDINGS–THE CASE OF POLAND
SANCTIONS AND THEIR ROLE IN PREVENTING THE APPROPRIATION OF THE CREDITOR’S PROPERTY RIGHTS IN BANKRUPTCY PROCEEDINGS–THE CASE OF POLAND

Summary/Abstract: The aim of this paper is to fill the cognitive gap regarding the role of sanctionsin the protection of a creditor’s property rights in the event of an entrepreneurinsolvency. The impact of sanctions on transaction costs, including their identificationand types, as well as the impact on the protection of creditor rights, has beenpoorly recognized in the subject literature to date. This article investigates the theoryof transaction costs and property rights by providing an identification and descriptionof formal negative sanctions, as well as their impact on counteracting the appropriationof creditors’ rights in bankruptcy proceedings. These studies are part of the discussionon the role of formalized negative sanctions, in terms of enforcing behavioursexpected by the legislator.

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