On 1 July 2017, a major amendment to the Czech Insolvency Act came into effect. The amendment introduces a change to the definition of insolvency – the term liquidity gap. Debtors, who are entrepreneurs and keep accounting books, will now be allowed to prove that they are able to pay their due monetary liabilities by proving the possession of a sufficient amount of available funds or by proving that they are able to obtain such funds in the near future. Thus, in simple terms, a liquidity gap means in this connection a lack of available funds for the payment of due liabilities.