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    Preventive Restructuring as a Precursor to Insolvency Proceedings
    2023-01-17

    A draft of a preventive restructuring act is being discussed in the Czech legal environment to implement the EU directive on restructuring and insolvency (directive (EU) 2019/1023). The aim of the new legal regulation is to introduce an out-of-court restructuring model with shorter times to improve operations and the balance sheets of debtors in financial difficulties. Different forms of out-of-court restructuring are common and frequently used in many foreign jurisdictions, e.g. arrangements in England and Wales.

    Filed under:
    Czech Republic, Insolvency & Restructuring, PRK Partners Attorneys at Law, Bankruptcy, Insolvency, Out-of-court restructuring
    Authors:
    Tomas Vlasak
    Location:
    Czech Republic
    Firm:
    PRK Partners Attorneys at Law
    Preventivní restrukturalizace jako předstupeň insolvenčního řízení
    2023-01-17

    Již delší dobu se v českém právním prostředí diskutuje návrh zákona o preventivní restrukturalizaci, který do českého právního řádu transponuje směrnici o restrukturalizaci a insolvenci. Smyslem právní úpravy je zavedení mimosoudní formy restrukturalizace, což povede ke zkrácení ozdravného procesu dlužníků ve finančních obtížích. Mimosoudní formy restrukturalizace jsou v řadě zahraničních jurisdikcí obvyklé a užívané, např. obdobný proces v Anglii a Walesu (scheme of arrangement).

    Filed under:
    Czech Republic, Insolvency & Restructuring, PRK Partners Attorneys at Law, Insolvency
    Authors:
    Tomas Vlasak
    Location:
    Czech Republic
    Firm:
    PRK Partners Attorneys at Law
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