Czech Republic: Implementing the Restructuring Directive in the Czech Republic

The draft law on preventive restructuring has still not been published in the Czech Republic.

In the meantime, it is therefore clear that the Ministry of Justice cannot prepare the implementation of the Restructuring Directive in the Czech Republic in a timely manner.

The Czech government has therefore asked the EU Commission to extend the deadline for the adoption of the law in connection with the implementation of the restructuring directive by one year, namely until July 2022.

In the view of insolvency experts, the Ministry has missed a great opportunity, since adoption of the new law would also benefit companies that have survived the severe restrictions of their economic activities in the fight against the Covid-19 disease.

Unfortunately, since February 2021, no further detailed information on the preparations of the Restructuring Act has been published.

Autor: Monika Wetzlerová-Deisler