Act No. 12 / 1998 Coll.
Act amending and supplementing Act No. 328 / 1991 Coll., on bankruptcy and settlement, as amended
Valid
Effective from 01.04.1998
12
THE LAW
of 7 January 1998
amending and supplementing Act No 328 / 1991 Coll., on bankruptcy and settlement, as amended
Parliament has decided on this law of the Czech Republic:
Act No. 328 / 1991 Coll., on bankruptcy and settlement, as amended by Act No. 122 / 1993 Coll., Act No. 42 / 1994 Coll., Act No. 74 / 1994 Coll., Act No. 117 / 1994 Coll., Act No. 156 / 1994 Coll., Act No. 224 / 1994 Coll., Act No. 84 / 1995 Coll., Act No. 94 / 1996 Coll. and Act No. 151 / 1997 Coll., is amended as follows:
1. Paragraph 1 (2) reads as follows:
"(2) The debtor is bankrupt if he has more creditors and is unable to meet his due obligations. If the debtor has stopped payments, it shall be deemed not to be able to meet his due obligations. ';
Article 3 (2) and (3) read as follows:
"(2) The Court of First Instance shall act by order. The proceedings shall be ordered only if the law so provides or if the court considers it necessary. No interruption shall be permitted. The time-limit shall not be waived by the intervener. The court may order interim measures of its own motion.
(3) Where the law does not provide for a method of calling to the court or notifying the parties, the court or the parties may also be informed by a decree published at least 15 days in advance in the Commercial Journal and on the official record of the court. ';
3. The following Section 4a is inserted after Section 4:
(1) If a legal person or a natural person is bankrupt (§ 1), he shall be required to submit an application for bankruptcy without undue delay.
(2) The obligation referred to in paragraph 1 shall also apply to persons who are entitled to submit on behalf of the debtor an application for legal proceedings, with the exception of a forced administrator under special rules, and a liquidator of a legal person where the legal person in liquidation is overindebted.
(3) If the persons referred to in paragraph 2 fail to comply with their obligation to file an application for bankruptcy or if at least one of them fails to comply with that obligation, they shall be jointly and severally liable to creditors for the damage suffered by the creditors.
(4) Withdrawal of a proposal submitted pursuant to paragraph 1 or 2 is not permitted. '
4. In Paragraph 5a (1), the semicolon is replaced by a dot and part of the sentence behind the semicolon is deleted.
5. Article 11 (1), first sentence, reads: "If the number of insolvency creditors exceeds 50, they are obliged to set up a creditor committee."
6. Article 12 (2) reads as follows:
"(2) In carrying out its supervision activities, the court shall decide on matters relating to the conduct of the bankruptcy and shall take the measures necessary to ensure its purpose. '.
7. Paragraph 12 shall be added to paragraph 3:
"(3) An appeal shall not be admissible against a decision of the court which the court has taken in carrying out surveillance activities pursuant to paragraphs 1 and 2. ';
8. In Article 12a (1), the words "without undue delay 'shall be inserted after the word" court' and the following sentence shall be added at the end of the paragraph: "The debtor may appeal the order on the declaration of bankruptcy if he is not the appellant; The appellant and the appellants who intervened may appeal against the order rejecting the application. ';
9. Paragraph 14a is renumbered paragraph 1 and the following paragraph 2 is added:
"(2) The administrator shall submit a final report to the court within 18 months of the declaration of bankruptcy, unless the court has provided for another reasonable period in the decision to declare the bankruptcy. The court may extend the period of 18 months and the period prescribed by the court if the circumstances of the case so justify. '
10. in Paragraph 15 (1) (c), the following shall be inserted after the word "cases": "rights and other assets."
11. Article 17 (2) reads as follows:
"(2) The obligations referred to in paragraph 1 shall also apply to persons who are entitled to act on behalf of the insolvency practitioner, including the liquidator, if the insolvency practitioner is a legal person in liquidation. ';
12. Article 17 (3) is added as follows:
"(3) The obligations referred to in paragraph 1 shall be fulfilled no later than 30 days after the declaration of bankruptcy. If they do not, the court shall take appropriate measures to fulfil these obligations. ';
13. in Paragraph 18 (1), the second sentence is deleted.
14. In Paragraph 20, the following paragraph 4 is inserted after paragraph 3:
"(4) A claim linked to the condition may also be applied for. The guarantor thus declares his claim against the bankrupt if he fulfils his obligation to the creditor."
Paragraphs 4 to 7 shall be renumbered paragraphs 5 to 8.
15. Paragraph 22 (1), second sentence, reads: "Reimbursement of the costs associated with the special examination procedure may be imposed by the court on the insolvency creditors who filed late applications."
16. In the second sentence of Article 23 (2), the following is inserted after the words "of authenticity ':" and above'.
17. Article 27 (2) reads as follows:
"(2) Sales outside the auction shall be made by the administrator with the agreement of the court; in its decision, the court shall, in particular, take into account the observations of the creditor committee, the period of the envisaged redemption and the costs to be incurred for the further maintenance and administration of the substance. If the court gives its consent, it may also lay down conditions for sale. Things can be sold outside the auction and below the estimated price. Similarly, insolvency practitioners may also transfer contested or difficult to enforce claims. There is no need for a court's consent to sell matters at imminent risk of destruction or degradation. '
18. Paragraph 27 (5) reads as follows:
"(5) The AIFM shall seek and enforce performance in favour of the person who provides claims against the deceased; as soon as such performance is granted, the claim of that person shall become a claim in bankruptcy without having to be registered. The provisions of this paragraph shall not apply if it is a guarantor. ';
19. Paragraph 31 (2) of the introductory sentence reads: "Claims on substance, if they arise after the bankruptcy declaration, are."
20. in Paragraph 31 (2) (d), "general" is replaced by "public."
21. In Paragraph 31 (2) (f), after the words "Article 14 (1) (a)" the comma is replaced by a dot and the remainder of the sentence is deleted.
22. Paragraph 31 (3) of the introductory sentence reads: "Where the rights of employment are incurred after the bankruptcy declaration or in the month in which the bankruptcy was declared, they are."
23. in Paragraph 31 (3) (ch), after the words "occupational disease" the comma is replaced by a dot and the remainder of the sentence is deleted.
24. in Paragraph 32 (2) (b), the words "social security contributions (insurance contributions) and general insurance contributions" are replaced by the words "social security contributions, the contribution to state employment policy and public contributions."
25. in Paragraph 33 (1) (d), the semicolon shall be replaced by a comma at the end of Article 33 (1) and the following words shall be added: "except for penalty payments for non-payment of taxes, fees, duties, social security premiums, contributions to state employment policy or public health insurance premiums in due time and at the correct rate, where the obligation to pay such periodic penalty payments arose before the bankruptcy declaration;"
26. in Article 54 (1) (c), the words "social security contributions (insurance contributions) and general contributions" shall be replaced by the words "social security contributions, contributions to state employment policy and public contributions."
27. § 68a is released.
1. This law shall also apply to proceedings initiated before its effect; the legal effects of the earlier operations remain.
2. The court may, with the agreement of the creditor committee, extend the withdrawal period laid down in Article 5c for a further period of six months if all obligations of the debtor have become due before the entry into force of this law.
This Act shall take effect on 1 April 1998.
Zeman v. r.
Havel v. r.
Tošovský v. r.
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Regulation Information
| Citation | Act No. 12 / 1998 Coll., amending and supplementing Act No. 328 / 1991 Coll., on bankruptcy and settlement, as amended |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 04.02.1998 |
|---|---|
| Effective from | 01.04.1998 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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