The bankruptcy procedure is conducted for the collective settlement of the debtor's creditors by paying his assets and allocating funds to the creditors. If it is assumed, due to the lack of data on assets, that the bankruptcy debtor does not have any assets or has less valuable assets that are insufficient to cover the costs of bankruptcy procedure, commercial courts execute shortened bankruptcy procedure on bankruptcy debtors in which they open and conclude shortened bankruptcy procedure on the same day. In some cases, it is subsequently found that some bankruptcy debtors over which the shortened bankruptcy procedures were carried out and which were already removed from the court registry have the assets that are sufficient to settle the costs of the bankruptcy procedures therefore partly or completely settling the creditor. The bankruptcy managers to whom the rights of the bankruptcy debtor are transferred, inform the commercial courts of the existence of the assets of the bankruptcy debtor and proposes the reopening of concluded bankruptcy proceedings for subsequent divisions. The practical implementation of bankruptcy procedures over debtors in shortened bankruptcy procedures with subsequently found assets often lacks the legally defined role of the insolvency administrator within the bankruptcy law which puts insolvency administrators during the implementation of bankruptcy procedures in cases of subsequently found assets in difficult position with many problems. Insolvency administrators believe that the current legal framework defining the legal position of insolvency administrators in the management of subsequently found assets has its shortcomings and that its change would improve the legal protection and economic benefits of subsequently found assets of bankruptcy debtors therefore increasing the level of settlement of creditors.