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Restriction of set-offs in liquidation form of insolvency solution We would like to draw your attention to an interesting decision which was rendered in the publicized case of LESS holding insolvency proceedings which deals with the issue of conditions for offsetting receivables within insolvency proceedings. The High Court of Prague on June 18, 2014 in its decision file no. 1 VSPH 1002/2014-B-581 (KSPH 37 INS 23802/2012) changed the decision of a first-instance court and denied a motion for preliminary injunction which prevented offsetting of mutual receivables of the debtor (LESS & FOREST, s.r.o.) and its registered creditors until the time…

Re Section 199 (2) of the Insolvency Act Reasons for denial of an enforceable receivable within insolvency proceedings We would like to draw your attention to an interesting decision of the Supreme Court on the issue of adversary proceedings within the insolvency proceedings, specifically the limitations for denial of an enforceable receivable. The section 199 (2) of the Insolvency Act, as amended (hereinafter as “InsAct”) stipulates that: “As a reason for denying the authenticity or the amount awarded by final enforceable decision of the competent authority may apply only the facts that were not raised by the debtor in the…

The law office has assumed legal representation of important Czech charity organization – Safety Line Association which provides for more than 20 years highly qualified services of telephonic crisis intervention to children and juveniles whilst being accredited within the social welfare system of the Czech republic and being a member of a global association of children helplines "Child Helpline International. The law office represents the Association in a lawsuit regarding a copyright and goodwill protection.

The parliament is currently deliberating on a government legislation draft of the Act on Registration of Contracts. This legislation should (similarly as in Slovak republic) introduce a mandatory publishing of contracts concluded by public authorities in the register of contracts which shall be a part of Public Administration Portal. The act should govern all contracts based on which any public funds are being disposed of, regardless of the subject-matter of the contract – the important factor shall be whether a party to such contract is the State in a broad sense (municipalities, corporations controlled by state etc). In case a…