Long-awaited bill on preventive restructurings finally released: What changes will it bring to Czech insolvency law?
The Czech Ministry of Justice recently published a bill on preventive restructurings implementing the directive on preventive restructuring frameworks which will introduce a brand-new legal tool preventing the insolvency of viable enterprises in temporary financial difficulties. The bill is now heading to the legislative process and should become effective from July 2022. Although it may still undergo some changes, it is already obvious that it will revolutionise Czech insolvency law.