The definition of a business crisis in Slovakia has become formalized for its legislative definition in the context of the Commercial Code since the year 2016. This situation was by then perceived theoretically and solved solely by law governing bankruptcy and restructuring. However, practice has created the need to include this phase of company life into the formal legislative amendment. When entering into bankruptcy or restructuring, it turned out that the company/ debtor fails to manage business risk, which is fully passed on to creditors. In most cases where it comes to the declaration of bankruptcy on the basis of the creditor´s legal proposal, even the bankruptcy truste finds that the company did not have any effort to cover this business risk, but on the contrary, its representatives took steps for the benefit of themselves, or related persons, which came to the multiplication of damage to the detriment of existing, possibly future creditors. Serious risk of loss of assets of the company, which may serve to satisfy creditors´ claims, should be the driving force for corporate responsibility and responsibilities of the persons representing the company. The aim of this theme is the prevention of damage to the creditors and strengthening accountability for business.