In our Newsletter No. 6/2017 we bring insight into the main changes introduced by the novelization of the Insolvency Act (i.e. the Act No. 64/2017 Coll., by which the Act No. 182/2008 Coll., the Insolvency Act, is amended) and that became effective as of 1st July 2017.
The aim of this rather large novelization is especially: (i) to reinforce the protection of businessmen against so-called bullying insolvency petitions, (ii) to realize changes in the field of the debt relief, which have turned out to be necessary due to the application practise, and (iii) to increase the transparency of the insolvency proceedings.
