AmCham Successful in Convincing Ministry of Justice to Amend the Insolvency Act Concerning Over-Indebtedness

On March 6, the government approved an amendment to the Insolvency Act (Zákon o úpadku) prepared within the government’s National Anti-Crisis Plan. The amendment, among others, abolishes...

a debtor’s duty to file for bankruptcy in case of his overindebtedness (předlužení). We would like to thank all AmCham members, who brainstormed with drafters of the act at AmCham a year ago and successfully advocated this change to the Act. For more information about the amendment, please contact Iveta Havlová at or 602 736 797.

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