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15. 12. 2022 · Publications and newsletters
Slovakia: When and how to address a financial crisis in a company as a preventive measureA 2022 amendment to the Slovak Bankruptcy and Restructuring Act and the new Impending Insolvency Resolution Act give companies more tools for preventive restructuring, extend the insolvency test period from 30 to…
29. 6. 2021 · Publications and newsletters
End of extraordinary protection of debtors’ management members – restoration of the obligation to file a timely insolvency petitionAs of 1 July 2021, the statutory duty of Czech companies to file a timely insolvency petition, suspended under the Lex Covid Justice measures, was fully restored, exposing management members to personal…
11. 11. 2020 · Publications and newsletters
Extraordinary changes to the Insolvency Act, alias Lex Covid Justice II, providing further assistance to businesses in crisisLex Covid Justice II extends Czech COVID-19 insolvency relief: the extraordinary moratorium and the suspended duty to file for insolvency now run until 30 June 2021, and the ban on enforcement against…
13. 5. 2020 · Publications and newsletters
Duties of and risks for members of governing bodies during the coronavirus pandemic (part three)Part three of a HAVEL & PARTNERS series on governing-body duties during COVID-19 covers profit distribution, the insolvency test before dividend payment, and Supreme Court case law making it harder to have…
1. 4. 2020 · Publications and newsletters
Extraordinary changes to the Insolvency Act and Lex Covid as a helping hand in a time of crisisLex Covid introduces an extraordinary moratorium letting COVID-19-hit but viable Czech debtors block enforcement of collateral and suspends their duty to file for insolvency, while barring creditors from filing insolvency petitions until…
3. 9. 2019 · Articles and Interviews
Ground-breaking Czech Supreme Court decision on balance-sheet insolvencyThe Czech Supreme Court ruled that balance-sheet insolvency (over-indebtedness) requires only one creditor with a past-due claim, not two as previously assumed, reversing a Prague High Court decision that had dismissed an…
12. 2. 2018 · Articles and Interviews
Czech Republic – Restructuring under the Directive proposal – an opportunity or a threat?The European Commission's draft insolvency directive (2016/0359/COD) would introduce informal, non-public restructuring with a court-ordered stay on creditor enforcement of up to four months and protection for new financing to near-insolvent debtors.
