Wolf Theiss

Insolvency Proceedings under the new Lex Covid Justice – Covid-19 legal update

On 17 April 2020, the Senate approved a draft law aiming to mitigate the impact of the COVID-19 pandemic on persons involved in various legal proceedings (known in Czech as the Lex Covid). As we have informed you before, the new Act significantly improves the position of debtors affected by the pandemic in insolvency proceedings and also simplifies the functioning of corporate bodies during the pandemic. Major relief is also granted to all debtors, who may go into payment default due to the measures adopted in connection with the COVID-19 pandemic. The new Act will come into force within the next few days after it is signed by the president and published in the official collection of laws. In order to lean more, please download the file below.

 

For further information please contact

Robert Pelikán
Robert
Pelikán
Partner
Czech Republic
Tereza Mrázková
Tereza
Mrázková
Associate
Czech Republic

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