The Czech Insolvency Act and insolvency procedure From 2006.
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The Czech Insolvency Act and insolvency procedure From 2006
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Dealing in Court O Creditors submit claims to the Court O --> Court issues a rulling on insolvency O Court O Establishes insolvency O Appoints trustee O Creditors O Submit their claims O Debtor O Submit a list to the trustee
Transcript of The Czech Insolvency Act and insolvency procedure From 2006.
The Czech Insolvency Actand insolvency
procedure
From 2006
Czech Insolvency ActO Definition exists (unlike in USA)O Insolvency petition
O Schedules of the debtors assets and liabilities (problematic to verificate)
O Moratorium O Prevents creditors from proceeding
against the companyO Allowing directors to remain in control
Dealing in CourtO Creditors submit claims to the Court
O --> Court issues a rulling on insolvencyO Court
O Establishes insolvencyO Appoints trustee
O CreditorsO Submit their claims
O DebtorO Submit a list to the trustee
Methods of insolvency resolution
O The Court has 3 options:O 1) BankcruptcyO 2) ReoganizationO 3) Discharge from debts
Thank you for attentionO Vít BaťaO Marek BezděkO Jakub KučeraO Nikol Marečková
