In the last week of January, the Czech Government passed an amendment to the Insolvency Act, which was prepared by the Ministry of Justice.

During the current economic downturn the number of insolvency proceedings in the Czech Republic continuously increases.

An apparently straightforward situation has ended in a conclusion that has disturbed the Czech legal practice. By extensive interpretation, the Czech Supreme Court has broadened the requirements applicable for the distribution of profit.

A Czech court has ruled that a lender was ineligible to join the insolvent borrower’s creditors’ committee because the share pledges and other security it had taken made it effectively the borrower’s holding company.

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.

An extensive amendment to Act No. 182/2006 Coll., on Insolvency (the "Insolvency Act") will come into effect on 1 July 2017 (the "Amendment").

After a delay of more than a year, an Act on Preventive Restructuring (the "Act") implementing the EU directive on preventive restructuring frameworks finally became...

A long-awaited bill on preventive restructuring (the "Bill") implementing the directive on preventive restructuring frameworks in the Czech Republic will introduce a brand-new legal tool...

On 1 January 2018, part of an amendment of Act No. 253/2008 Coll. on selected measures against the legitimisation of proceeds of crime and financing of terrorism, as amended, and as implemented by Act No. 368/2016 Sb.

Certain kinds of transaction entered into by debtors before insolvency proceedings are initiated against them may be ineffective.

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.

The Czech Ministry of Justice recently published a bill on preventive restructurings (the "Bill") implementing the directive on preventive restructuring frameworks which will introduce...

The amendment to the Business Corporations Act effective from 1 January of this year (the "Amendment") brings, among other things...

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.

As the COVID-19 pandemic keeps reshaping the M&A environment across Europe with only deals at the late stage proceeding further...

The case law sets very high requirements for insolvency filings made by creditors.

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.

Legal Instrument The number of companies facing financial difficulties, or even collapse, has been steadily growing over the last 12 months.

After a delay of more than a year, an act on preventive restructuring (the "Act") implementing the EU directive on preventive restructuring frameworks finally became effective in the Czech Republic on 23 September 2023.