Czech Republic

Results for Czech Republic

China's CITIC Pays CEFC's Czech Debts to End Spat, to Take Over J&T Stake

Czech financial firm J&T said on Friday it had struck a deal with Chinese state conglomerate CITIC Group to settle debts owed by troubled Chinese company CEFC, ending a dispute, Reuters reported. Privately-held CEFC has spearheaded a Chinese acquisit ...

Daily Headline - global.abi.org - 05/28/2018 - 22:59 - 0 comments

CEFC Europe Resists Takeover by J&T, Says Can Repay Debt

CEFC Europe, a Czech-based division of troubled conglomerate CEFC China Energy, said it would contest a takeover of shareholder rights by creditor J&T Private Investments (JTPI), arguing it had funds to pay a debt at the centre of the dispute, Reuter ...

Daily Headline - global.abi.org - 05/21/2018 - 00:08 - 0 comments

J&T Private Investments Says Takes Over Shareholder Rights in CEFC Europe

Creditor J&T Private Investments (JTPI) said on Thursday it had taken over shareholder rights and installed crisis management at CEFC Europe, the Czech-based part of troubled Chinese conglomerate CEFC China Energy, Reuters reported. The move is a sig ...

Daily Headline - global.abi.org - 05/17/2018 - 23:13 - 0 comments

Debt relief under the amended Czech Insolvency Act

On 1 June 2017, a significant and extensive amendment to the Czech Insolvency Act came into force which brought, among other things, changes to debt relief as a means of resolving insolvency. The Insolvency Act in its previous manifestation determined th ...

Resource Article - twallace@abiwor... - 05/08/2018 - 12:07 - 0 comments - 1 attachment

Country report from the Netherlands

The Dutch Minister’s announcement of a multi-disciplinary approach to combat bankruptcy fraud has lead to a legislative programme that went into force last year, wherein the duty of the trustee is extended to combat bankruptcy fraud. Attachme ...

Resource Article - twallace@abiwor... - 04/03/2018 - 10:48 - 0 comments - 1 attachment

The Czech Republic Report: Creditors with secured contingent and future claims have gained more certainty

On 1 July 2017, an extensive amendment to the Insolvency Act shall take effect. The amendment brings several substantial changes to a number of aspects pertaining to insolvency proceedings, including security of future or contingent claims (including ...

Resource Article - twallace@abiwor... - 11/08/2017 - 11:20 - 0 comments - 1 attachment

Czech Republic: Insolvency Act undergoes substantial overhaul

On 1 July 2017, a far-reaching amendment to the Czech Insolvency Act will come into force. This will bring the following changes, among others: (i) Negative assumption of bankruptcy. (ii) Barriers intended to curb what is known as ‘forum shopping’. ...

Resource Article - twallace@abiwor... - 08/30/2017 - 13:45 - 0 comments - 1 attachment

Country Reports Spring 2017

The decision from the Court of Appeal was handed down on 1 March 2017 and has confirmed that if a trust is created by an IVA that trust will continue in the absence of specific terms to bring it to an end. This is despite a debtor having received his cer ...

Resource Article - twallace@abiwor... - 08/14/2017 - 14:37 - 0 comments - 1 attachment

SR - Czech Republic - Frivolous insolvency motions recognised as criminal offence

According to a ruling by the Czech Supreme Court, filing a motion for the initiation of insolvency proceedings on the basis of knowingly false information (i.e., what is known as a “frivolous insolvency motion”) may qualify as a criminal offence – that o ...

Resource Article - twallace@abiwor... - 12/29/2016 - 14:18 - 0 comments - 1 attachment

Czech Central Banker Says Negative Rates May Help End Koruna Cap

below zero from the current 0.05 percent that would make the koruna less attractive, board member Tomas ...

Daily Headline - global.abi.org - 12/08/2016 - 23:12 - 0 comments

Syndicate content