International Corporate Rescue
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Vol 17 (2020) - Issue 2
Article preview
Groundbreaking Czech Supreme Court Decision on Balance-Sheet Insolvency: Where Do We Stand?
Petr Sprinz, Partner, Havel & Partners, Prague, Czech RepublicSynopsis
The definition of insolvency in legal terms is a key element of every insolvency law. It essentially opens the door for additional tools that enable creditors to safeguard their rights vis-à-vis their debtors. In August 2019, the Czech Supreme Court published a groundbreaking decision which addresses a crucial aspect of balance-sheet insolvency. This paper focuses on its background and other related issues.
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