What is Full version of Act No. 56 / 2008 Coll.?

Full version of Act No. 56 / 2008 Coll., Act No. 182 / 2006 Coll., on Decrease and Methods of Solutions (Insolvency Act), as resulting from subsequent amendments — Full text of Act No. 182 / 2006 Coll., on Decrease and Methods of its Resolution (Insolvency Act), as resulting from subsequent amendments.

When it became Full version of Act No. 56 / 2008 Coll. effectiveness?

Full version of Act No. 56 / 2008 Coll. became effective date not available.

Is Full version of Act No. 56 / 2008 Coll. still valid?

Yes, Full version of Act No. 56 / 2008 Coll. is still valid and effective.

Full version of Act No. 56 / 2008 Coll.

Full text of Act No. 182 / 2006 Coll., on Decrease and Methods of its Resolution (Insolvency Act), as resulting from subsequent amendments

Valid Declared full text

Text versions: 26.02.2008

ČÁST PRVNÍ HLAVA I § 1 § 2 § 3 § 4 § 5 § 6 § 7 § 8 HLAVA II Díl 1 § 9 § 10 § 11 § 12 § 13 Díl 2 § 14 § 15 § 16 § 17 § 18 § 19 § 20 Díl 3 § 21 § 22 § 23 § 24 § 25 § 26 § 27 § 28 § 29 § 30 § 31 § 32 § 33 § 34 § 35 § 36 § 37 § 38 § 39 § 40 § 41 § 42 § 43 § 44 § 45 Díl 4 § 46 § 47 § 48 § 49 § 50 § 51 § 52 § 53 § 54 § 55 § 56 § 57 § 58 § 59 § 60 § 61 § 62 § 63 § 64 § 65 § 66 § 67 § 68 Díl 5 § 69 § 70 HLAVA III § 71 § 72 § 73 § 74 § 75 § 76 § 77 § 78 § 79 § 80 § 81 § 82 § 83 § 84 § 85 § 86 § 87 § 88 § 89 § 90 § 91 § 92 § 93 § 94 § 95 § 96 HLAVA IV Díl 1 § 97 § 98 § 99 § 100 § 101 § 102 Díl 2 § 103 § 104 § 105 § 106 § 107 § 108 Díl 3 § 109 § 110 § 111 § 112 § 113 § 114 Díl 4 § 115 § 116 § 117 § 118 § 119 § 120 § 121 § 122 § 123 § 124 § 125 § 126 § 127 Díl 5 § 128 § 129 § 130 § 131 § 132 § 133 § 134 § 135 § 136 § 137 § 138 § 139 § 140 § 141 § 142 § 143 § 144 § 145 § 146 § 147 Díl 6 § 148 § 149 § 150 § 151 § 152 § 153 § 154 § 155 § 156 § 157 Díl 7 § 158 Díl 8 § 159 § 160 § 161 § 162 § 163 § 164 HLAVA V Díl 1 § 165 § 166 § 167 § 168 § 169 § 170 § 171 § 172 Díl 2 § 173 § 174 § 175 § 176 § 177 § 178 § 179 § 180 § 181 § 182 § 183 § 184 § 185 § 186 § 187 § 188 § 189 § 190 § 191 § 192 § 193 § 194 § 195 § 196 § 197 § 198 § 199 § 200 § 201 § 202 Díl 3 § 203 § 204 HLAVA VI § 205 § 206 § 207 § 208 § 209 § 210 § 211 § 212 § 213 § 214 § 215 § 216 § 217 § 218 § 219 § 220 § 221 § 222 § 223 § 224 § 225 § 226 § 227 § 228 § 229 § 230 HLAVA VII Díl 1 § 231 § 232 § 233 § 234 Díl 2 § 235 § 236 § 237 § 238 § 239 § 240 § 241 § 242 § 243 ČÁST DRUHÁ HLAVA I Díl 1 § 244 § 245 § 246 § 247 § 248 § 249 § 250 § 251 § 252 § 253 § 254 § 255 § 256 § 257 § 258 § 259 § 260 § 261 § 262 Díl 2 § 263 § 264 § 265 § 266 § 267 Díl 3 § 268 § 269 § 270 § 271 § 272 § 273 § 274 § 275 § 276 Díl 4 § 277 § 278 § 279 § 280 § 281 § 282 Díl 5 § 283 § 284 § 285 § 286 § 287 § 288 § 289 § 290 § 291 § 292 § 293 § 294 § 295 Díl 6 § 296 § 297 § 298 § 299 § 300 § 301 Díl 7 § 302 § 303 § 304 § 305 § 306 § 307 Díl 8 § 308 § 309 § 310 § 311 § 312 § 313 Díl 9 § 314 § 315 HLAVA II Díl 1 § 316 Díl 2 § 317 § 318 § 319 § 320 § 321 § 322 § 323 § 324 Díl 3 § 325 § 326 § 327 § 328 § 329 § 330 § 331 § 332 § 333 Díl 4 § 334 § 335 § 336 § 337 Díl 5 § 338 § 339 § 340 § 341 § 342 § 343 § 344 § 345 § 346 § 347 § 348 § 349 § 350 § 351 Díl 6 § 352 § 353 § 354 § 355 § 356 § 357 § 358 § 359 § 360 § 361 Díl 7 § 362 § 363 § 364 HLAVA III § 365 § 366 HLAVA IV Díl 1 Oddíl 1 § 367 Oddíl 2 § 368 § 369 § 370 § 371 § 372 § 373 § 374 § 375 § 376 Oddíl 3 § 377 § 378 Díl 2 Oddíl 1 § 379 Oddíl 2 § 380 § 381 § 382 § 383 § 384 § 385 § 386 Oddíl 3 § 387 § 388 HLAVA V § 389 § 390 § 391 § 392 § 393 § 394 § 395 § 396 § 397 § 398 § 399 § 400 § 401 § 402 § 403 § 404 § 405 § 406 § 407 § 408 § 409 § 410 § 411 § 412 § 413 § 414 § 415 § 416 § 417 § 418 ČÁST TŘETÍ HLAVA I § 419 § 420 § 421 § 422 § 423 § 424 § 425 HLAVA II § 426 § 427 § 428 § 429 § 430 HLAVA III § 431 § 432 § 433 § 434

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PRESIDENT OF THE GOVERNMENT

Announces

the full text of Act No. 182 / 2006 Coll., on the bankruptcy and methods of its resolution (Insolvency Act), as follows from the amendments made by Act No. 312 / 2006 Coll., Act No. 108 / 2007 Coll., Act No. 296 / 2007 Coll. and Act No. 362 / 2007 Coll.

THE LAW

on bankruptcy and its methods of resolution (insolvency law)

Parliament has decided on this law of the Czech Republic:

ČÁST PRVNÍ

GENERAL PART

HLAVA I

BASIC PROVISIONS

§ 1

Subject matter

This law governs

(a) a solution to the insolvency and the imminent insolvency of the debtor by judicial proceedings in one of the specified ways, in order to organise property relations with the persons concerned by the debtor's insolvency or threatening insolvency and to satisfy the debtor's creditors as fully and substantially as possible;

(b) the debt relief of the debtor.

§ 2

Definition of certain basic terms

For the purposes of this Act:

(a) insolvency proceedings involving the debtor's bankruptcy or imminent bankruptcy and the way in which it is dealt with;

(b) the insolvency court, the court before which insolvency proceedings are pending;

(d) by an incident dispute brought about by insolvency proceedings, on which the law provides for it, pending in insolvency proceedings;

(e) property intended to satisfy the debtor's creditors,

(f) a person with available authorisations who, during insolvency proceedings, is entitled to dispose of the property in respect of all the authorisations of which he is composed;

(g) a creditor secured by a creditor whose claim is secured by property belonging to the property, by lien, detention, by limitation of the transfer of real estate, by the transfer of a right or by the transfer of a security claim or by similar law under foreign law;

(h) an application for a claim for a procedural act whereby the creditor claims to satisfy his rights in insolvency proceedings;

(i) by the insolvency register, an information system containing information under this law;

(j) the common interest of creditors is the interest superior to their individual interests, if its aim is to ensure that the chosen way of dealing with bankruptcy is fair and more profitable than other ways of dealing with bankruptcy; This is without prejudice to the statutory special position of certain creditors,

(k) the financial institution, the bank, the savings and credit cooperative, the electronic money institution (1), the insurance and reinsurance undertaking, and, under the conditions laid down below, certain other persons.

§ 3

Decline

(1) The debtor is bankrupt if he has:

(a) more creditors; and

(b) cash liabilities for a period longer than 30 days after the due date; and

("insolvency ').

(2) It shall be considered that the debtor is unable to fulfil his financial obligations if:

(a) suspend payments of a substantial part of its cash liabilities; or

(b) they do not comply with them for a period exceeding 3 months after the due date; or

(c) it is impossible to obtain satisfaction of one of the cash claims due against the debtor by enforcement or execution; or

(d) has failed to fulfil the obligation to submit the lists referred to in Paragraph 104 (1) imposed by the insolvency court.

(3) A debtor who is a legal person or a natural person - a businessman - is bankrupt even if overindebted. Overindebtedness is if the debtor has more creditors and the sum of his liabilities exceeds the value of his assets. In determining the value of the debtor's assets, account shall also be taken of the further management of his assets or, where appropriate, of the continued operation of his business if, in view of all circumstances, it is reasonable to assume that the debtor will be able to continue to manage the assets or operate the business.

(4) The impending bankruptcy is if, in view of all circumstances, it is reasonable to assume that the debtor will not be able to fulfil a substantial part of his money obligations properly and in a timely manner.

§ 4

Dealing with bankruptcy

(1) The way in which the debtor's insolvency proceedings (hereinafter referred to as the "method of resolution of insolvency") are to be resolved is:

(a) bankruptcy;

(b) reorganisation;

(d) the specific means of dealing with bankruptcy laid down by that law for certain entities or for certain types of cases.

(2) A decision by the insolvency court on how to deal with bankruptcy is understood,

(a) the decision to declare the bankruptcy of the debtor's assets (hereinafter referred to as the "decision to declare the bankruptcy") shall be taken in respect of the bankruptcy or any special means of handling the bankruptcy;

(b) where reorganisation is concerned, the decision authorising reorganisation; and

§ 5

Principles of insolvency proceedings

The insolvency proceedings shall be based in particular on the following principles:

(a) insolvency proceedings must be conducted in such a way that none of the participants is unfairly harmed or illegally favoured and that they achieve rapid, economical and as much satisfaction as possible for creditors;

(b) creditors having substantially the same or similar status under this law have equal opportunities in insolvency proceedings;

(c) unless otherwise provided for in this law, the rights of the creditor acquired in good faith before the opening of insolvency proceedings may not be restricted by decision of the insolvency court or by procedure of the insolvency administrator;

(d) creditors shall be obliged to refrain from acting to satisfy their claims outside insolvency proceedings, unless the law so permits.

§ 6

Exemptions from the scope of the Act

(1) This Act cannot be applied if:

(a) State;

(b) self-governing sector2),

(d) General Health Insurance Company of the Czech Republic,

(e) Deposit Guarantee Fund;

(f) securities dealers' guarantee fund;

(g) public non-profit-making constitutional health establishments established under the Special Law 2a),

(h) a public university; or

(i) a legal person, if the State or a higher territorial authority (2) has taken over or guaranteed all its debts before the insolvency proceedings.

(2) This Act cannot be further applied if:

(a) a financial institution, for as long as it is the holder of a licence or authorisation under specific legislation governing its activities;

(b) a health insurance undertaking established under a special legislation (3), for as long as it carries a public health insurance permit;

§ 7

Application of the Civil Code

(1) The provisions of the Civil Code (4) shall apply mutatis mutandis to insolvency proceedings and to incident disputes, unless that law provides otherwise or does not conflict with the principles underlying insolvency proceedings.

(2) The provisions of the Civil Code are applicable to the determination of the substantive and local jurisdiction of the court which acts in insolvency proceedings and in conflicts of law (5).

§ 8

The provisions of Part One and Part Three of this Act shall apply only if this Act provides in Part Two for any other way to deal with bankruptcy.

HLAVA II

PROCEDURAL ENTITIES

Díl 1

Proceedings

§ 9

The procedural bodies under this Act are:

(a) insolvency court;

(b) the debtor,

(d) the insolvency administrator or, where appropriate, the other trustee;

(e) a public prosecutor entering insolvency proceedings or an incident dispute; and

(f) the debtor's liquidator.

§ 10

Insolvency Court

Insolvency Court in insolvency proceedings

(a) issue decisions the law imposes or requires;

(b) exercise continuous supervision of the procedure and activities of other procedural bodies and decide on matters related thereto (hereinafter referred to as "surveillance activity").

§ 11

(1) In carrying out supervision activities, the insolvency court shall decide on matters relating to the conduct of insolvency proceedings, take the measures necessary to ensure its purpose and impose obligations relating to the activities of individual bodies.

(2) The insolvency court is entitled to require from the insolvency administrator the reports and explanations of his or her progress, to examine his or her accounts and to conduct the necessary investigations. It shall be entitled to give instructions to and require the insolvency administrator to seek the opinion of the creditor committee on certain issues.

§ 12

(1) A single judge (self-judge) shall act and act at first instance in insolvency proceedings and in incident disputes.

(2) Specific legislation6) provides when a senior judicial officer is entitled to act and act in insolvency proceedings.

§ 13

Assistant Judge of the Insolvency Court

The assistant to the court of insolvency shall act under the authority of the court of insolvency.

Díl 2

Interested parties

§ 14

(1) The participants in insolvency proceedings are debtors and creditors who exercise their right to the debtor.

(2) Intervention is not permitted in insolvency proceedings; Paragraph 16 (3) is without prejudice to this.

§ 15

In the absence of the creditor applied for, other persons exercising their right in insolvency proceedings shall be parties to the proceedings only for as long as the insolvency court is negotiating and deciding on that right.

§ 16

(1) The parties to the proceedings in the event disputes are the applicant and the defendant, unless otherwise specified.

(2) The insolvency administrator shall be either the applicant or the defendant in an incident dispute, unless otherwise specified.

(3) Intervention in incident disputes is permitted.

§ 17

Admission to proceedings (7) and replacement of a party to proceedings (8) are not admissible in insolvency proceedings.

§ 18

(1) Where, in the course of insolvency proceedings, the fact to which the legislation links the transfer or transfer of the claim applied for from the original creditor to the transferee of the claim, without the original creditor losing his capacity to be a party to the proceedings, the insolvency court decides that the transferee of his claim shall instead enter the insolvency proceedings. It shall do so on the basis of the creditor's proposal and the written consent of the transferee of his claim. The transfer or transfer of a claim which does not result directly from the legislation shall be evidenced by a public instrument (9) or by a document to which the authenticity of the signatures of the signatory is officially verified.

(2) The application referred to in paragraph 1 shall be decided by the insolvency court by the end of the working day as close as possible to the date on which such application was received; If not, the insolvency court shall be deemed to have given the decision by which it granted the application after the expiry of that period.

(3) The decision referred to in paragraph 1 shall also be taken by the insolvency court if the creditor and the transferee of his claim make a joint declaration to that court that the event referred to in paragraph 1 has occurred; paragraph 2 shall apply mutatis mutandis.

(4) The decision referred to in paragraphs 1 and 3 shall be served on the creditor, the transferee of his claim, the debtor and the insolvency administrator; they are delivered separately. An appeal against it is not admissible, but the insolvency court is not bound by this decision.

§ 19

The acquirer of the claim shall become a participant in insolvency proceedings as soon as the insolvency court decides to enter the insolvency proceedings pursuant to Paragraph 18 and shall be subject to the insolvency proceedings at the time when he became a participant. The acquirer thus enters the place of the original creditor and into the incident disputes relating to his acquired claim.

§ 20

(1) The provisions of Part One of Title Three of the Civil Code relating to the conduct of a legal person, the State and the local authorities and the representation of the parties apply mutatis mutandis to insolvency proceedings and incidents.

(2) The trade union may represent the debtor's staff in insolvency proceedings and in incident disputes, if it is about the application of his labour law claims.

Díl 3

Insolvency trustee and other trustees

§ 21

(1) The insolvency administrator shall be established from the list of insolvency administrators maintained by the Ministry of Justice ("the Ministry").

(2) The formalities for the list of insolvency administrators, the data entered in it, its breakdown, management and the conditions for entry in it, and the establishment of the right to pursue the activities of the insolvency administrator and the host insolvency administrator are governed by special legislation9a).

(3) For the purposes of this Act, the Insolvency Trustee is also the Visiting Trustee.

§ 22

(1) A person included in the list of insolvency administrators may reject his or her provision by the insolvency administrator only if there are important reasons for doing so.

(2) If the insolvency administrator cannot be selected from the list of insolvency administrators, a natural person who fulfils the general and qualification conditions for entry in the list and agrees with its provisions may be appointed.

§ 23

The insolvency administrator shall enter into a liability insurance contract for his or her cargo that could arise in connection with the performance of his or her duties or the activities of his or her staff for the entire duration of his or her duties.

§ 24

(1) The insolvency administrator shall be excluded from insolvency proceedings where, in view of his or her relationship with the case or the persons of the participants, there is reason to doubt his or her bias; This does not apply in the case referred to in Section 34. As soon as the designated insolvency administrator becomes aware that there are grounds for its exclusion, he shall notify the insolvency court immediately.

(2) The public commercial company designated by the insolvency administrator shall immediately notify the insolvency court of which of its members will perform the functions of insolvency administrator on its behalf. paragraph 1 shall apply mutatis mutandis to that member.

§ 25

(1) The insolvency practitioner shall be appointed by the insolvency court. the insolvency administrator shall designate a person to be appointed by the President of the insolvency court.

(2) In determining the person of the insolvency practitioner, the President of the insolvency court, having regard to the state of the insolvency proceedings, shall take into account in particular the person of the debtor and his property ratios and the professional competence of the insolvency practitioner and its burden.

§ 26

An appeal shall be admissible against a decision on the provision of an insolvency practitioner. However, in the appeal, the only argument may be that the designated insolvency administrator does not fulfil the conditions for a provision or that he is not unbiased. The facts which occurred or arose after the decision of the Court of First Instance shall not be taken into account in the appeal proceedings.

§ 27

(1) The insolvency court shall appoint an insolvency administrator at the latest in the bankruptcy decision. Under the conditions laid down by this Law, the insolvency court may establish a preliminary insolvency administrator (hereinafter referred to as the "interim administrator ') before a decision on bankruptcy; the decision shall be published in the same way as the decision on bankruptcy.

(2) The preliminary administrator shall exercise before a decision on the bankruptcy of an activity laid down in this Act and imposed on him by the insolvency court and shall have the rights and obligations which that court shall lay down for him. These rights and obligations cannot be defined by the insolvency court to the extent that they belong to the insolvency administrator following the bankruptcy decision. If the insolvency court does not provide otherwise for the person of the insolvency administrator in the bankruptcy decision, the interim administrator shall become the insolvency administrator with full effect after that decision.

(3) The provisions on the insolvency trustee apply mutatis mutandis to the interim trustee.

§ 28

Under the conditions laid down by this Act, both the insolvency authorities and the creditor authorities shall decide on the change in the person of the insolvency administrator; Paragraph 21 to 24 shall apply mutatis mutandis to their decisions.

§ 29

(1) At the meeting of creditors closest to the hearing, the creditors may decide to remove the insolvency court of the designated insolvency administrator and to appoint a new insolvency administrator. This resolution shall be adopted if at least half of the creditors registered on the date preceding the meeting of the creditors have voted in favour of them, calculated on the basis of their amounts.

(2) The resolution on the provisions of the insolvency administrator referred to in paragraph 1 is confirmed by the insolvency court; it does not confirm them only if the insolvency administrator does not fulfil the conditions set out in paragraphs 21 to 24; § 54 (1) shall not apply.

(3) The decision referred to in paragraph 2 shall be taken by the insolvency court before the end of the creditors' meeting which adopted the orders referred to in paragraph 1; the appeal is admissible only if the insolvency court does not confirm the creditors' meeting. The person entitled to appeal shall only be the creditor who voted in favour of the resolution at the creditors' meeting; Paragraph 55 (1) shall apply mutatis mutandis.

§ 30

(1) If the creditors' meetings adopt a resolution on the removal of the designated insolvency administrator without taking a decision on the provisions of the new insolvency administrator, or if the insolvency administrator's meetings have been withdrawn from office under Paragraph 31 (2), the insolvency administrator shall, by decision, appoint an insolvency court; Paragraph 29 (1) shall not apply to the insolvency administrator thus designated.

(2) If, as a result of a decision by the insolvency court to refuse the application of the claim, there is a change in the persons of the creditors or the amount of their claims that would affect the outcome of the order of the creditors' meeting referred to in paragraph 1, the order referred to in paragraph 29 (1) may also be adopted by the creditors' meeting which is closest to that amendment.

§ 31

Withdrawal of the insolvency practitioner

(1) For important reasons which do not originate in breach of the obligations of the insolvency administrator, the insolvency court may, on a request from the insolvency administrator or the creditor authority or without such request, remove the insolvency administrator from office. It shall normally do so after hearing the insolvency practitioner; the proposal submitted shall be decided without delay.

(2) The insolvency practitioner established in accordance with the procedure laid down in Article 29 (1) to (3) shall be dismissed by the insolvency court even if he so requests within 3 days after having become aware of his provision; This is not the case if the insolvency administrator has agreed in advance to its provision.

(3) If the insolvency court withdraws the insolvency administrator, it shall at the same time appoint a new insolvency administrator. An appeal against this Decision shall be admissible; However, an opinion on the provisions of the new insolvency administrator may only be appealed separately for the reasons set out in Section 26.

(4) The appeal insolvency administrator shall inform the new insolvency administrator accordingly without undue delay of its activities and shall forward to him all documents relating to the performance of his duties; his responsibility for the duration of his duties shall not cease.

§ 32

Removal of the insolvency administrator

(1) An insolvency administrator who does not perform his duties properly or who does not exercise professional care in the performance of his duties or who has seriously infringed an important obligation imposed on him by law or by a court may, on the application of a creditor or debtor, or without such a proposal, waive his duties. It shall normally do so after hearing the insolvency practitioner; the proposal submitted shall be decided without delay.

(2) The decision referred to in paragraph 1 may be appealed against by the insolvency administrator and the persons entitled to submit a proposal pursuant to paragraph 1. Paragraph 31 (3) and (4) shall apply mutatis mutandis.

§ 33

A representative of the insolvency administrator

If appropriate, the insolvency court may appoint a representative to the insolvency administrator in case he is unable to perform his duties temporarily for serious reasons. Paragraph 29 to 31 shall apply mutatis mutandis to the representative of the insolvency administrator.

§ 34

Separate insolvency trustee

If the insolvency administrator is excluded from some of the operations for its relationship with only one of the debtor's creditors or with only one of the representatives of the debtor's creditors, and if there is no reason to doubt that this relationship will affect the overall exercise of the rights and obligations of the insolvency administrator, the insolvency court may provide for a separate insolvency administrator for such actions.

§ 35

Special insolvency trustee

(1) In cases where specific issues requiring professional specialisation need to be addressed in insolvency proceedings, the insolvency court may also establish a special insolvency administrator and adjust its relationship with the insolvency administrator.

(2) The provisions on the insolvency practitioner shall apply mutatis mutandis to the provision for the function, remuneration and waiver of the function of the agent of the insolvency administrator, the separate insolvency administrator and the special insolvency administrator.

§ 36

(1) The insolvency administrator is obliged to act with due diligence and professional care in the performance of his duties; is obliged to make every effort that can be fairly required of him to satisfy the creditors as much as possible. The common interest of creditors shall take precedence in the performance of its duties over the interests of its own and the interests of other persons.

(2) The insolvency administrator provides the creditor authorities with the synergies necessary for the proper performance of their duties. in particular, at the request of the creditor authority, participate in its proceedings and submit a written report to the creditor authority and the insolvency court on the state of insolvency proceedings at least every three months.

§ 37

(1) The insolvency administrator shall be liable for any damage or other damage caused by the debtor, creditors or third parties in the performance of his duties in breach of the obligations imposed on him by law or by a judgment of the court and by the failure to exercise it with professional care. This liability shall only be waived by the insolvency administrator if it proves that the damage or other damage could not have been prevented even if all the efforts that it could have made could have been reasonably requested of him in the light of the insolvency proceedings.

(2) According to paragraph 1, the insolvency administrator shall also be liable for damage or other damage caused by the persons it has used to perform its tasks. This shall also apply to the staff of the debtor acting within the scope of his current activity or to other persons in contract with the debtor.

(3) The insolvency practitioner is liable for any damage or other damage caused by a creditor with a claim for property because his claim arising from the legal act of the insolvency practitioner could not be satisfied. Such liability shall be waived by the insolvency administrator only if it proves that, at the time that he had taken the legal action, he could not have known that the property would not be sufficient to cover the claims he had owed for the property.

(4) The right to compensation or other damage to the insolvency practitioner shall be suspended within 2 years of the date on which the injured party became aware of the amount of damage and liability of the insolvency practitioner, but no later than 3 years, and if the damage caused by the intentional offence for which the insolvency practitioner has been definitively convicted, no later than 10 years after the end of the insolvency proceedings.

§ 38

(1) The insolvency administrator has the right to remuneration and reimbursement of final expenses. In the event of bankruptcy, the amount of the remuneration shall be determined from the proceeds of the monies to be distributed among the creditors. If the insolvency administrator is a payer of value added tax, the amount corresponding to that tax which the insolvency administrator is obliged to pay under the special legislation (10) belongs to the remuneration and reimbursement of the final expenses.

(2) The remuneration and reimbursement of the final expenses of the insolvency practitioner are satisfied on the basis of assets and, if this is not sufficient, by the advance on the costs of the insolvency proceedings; If their satisfaction is not possible from these sources, the State shall pay them.

(3) The accounting for remuneration and expenditure shall be carried out by the insolvency administrator in the final report and, failing that, in the report on his activities. The insolvency court may, in accordance with the circumstances of the case, raise or reduce the remuneration of the insolvency practitioner accordingly after consulting the creditor committee. In particular, the reason for the reduction of remuneration is that the insolvency administrator has infringed one of its obligations or that it has not proposed the execution of a partial schedule, although the state of the acquisition of assets made this possible.

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Regulation Information

Citation	Full version of Act No. 56 / 2008 Coll., Act No. 182 / 2006 Coll., on Decrease and Methods of Solutions (Insolvency Act), as resulting from subsequent amendments
Regulation Type	Declared full text
Author	-
Collection	Code of Laws

Date of Promulgation	26.02.2008
Effective from	-
Effective until	-
Status	Valid

Legal Areas: Banking, Money Finance Economic (State) Civil law Civil law substantive Civil law of procedure Judicial and Public Prosecutor's Office Administrative law Constitutional (state) law

The regulation text is for informational purposes only.