Following last edition’s article on the insolvency proceedings of the market-leading Czech betting company, we would like to provide an update on the progress of the company’s insolvency proceedings.

In the last week of January, the Czech Government passed an amendment to the Insolvency Act, which was prepared by the Ministry of Justice. The aim of the amendment is to respond to the growing widespread practice of the filing of unjustified insolvency petitions by creditors. The amendment intends to allow courts to reject such petitions.