Mondaq All Regions - Czech Republic: Insolvency/Bankruptcy/Re-structuring
Schoenherr Attorneys at Law
An extensive amendment to Act No. 182/2006 Coll., on Insolvency (the "Insolvency Act") will come into effect on 1 July 2017 (the "Amendment").
The Czech Supreme Court recently issued two decisions having significant impact on the position of secured creditors (i.e. generally financial institutions) within insolvency proceedings.
Schoenherr Attorneys at Law
The case law sets very high requirements for insolvency filings made by creditors.
Schoenherr Attorneys at Law
The Supreme Court of the Czech Republic dealt with a case in which the plaintiff registered its receivable secured by a pledge over the trade receivables of the insolvency debtor in the insolvency proceedings against the debtor.
CMS Cameron McKenna Nabarro Olswang LLP
During the current economic downturn the number of insolvency proceedings in the Czech Republic continuously increases.
CMS Cameron McKenna Nabarro Olswang LLP
In the last week of January, the Czech Government passed an amendment to the Insolvency Act, which was prepared by the Ministry of Justice.
Havel & Partners s.r.o.
Execution auctions and court auctions are conducted under the Civil Procedure Code, while compulsory public auctions are conducted under the provisions of the Public Auction Act.
Schoenherr Attorneys at Law
Legal Instrument The number of companies facing financial difficulties, or even collapse, has been steadily growing over the last 12 months.
CMS Cameron McKenna Nabarro Olswang LLP
Certain kinds of transaction entered into by debtors before insolvency proceedings are initiated against them may be ineffective.
CMS Cameron McKenna Nabarro Olswang LLP
Fourteen changes to insolvency law have been proposed by the Czech Ministry of Justice to help alleviate the consequences of the financial crisis and, if approved, will come into effect shortly.
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