News archive

Czech charity organization – Safety Line Association which we cooperate with within the framework of our pro bono activities, has won in the prestigious competition “Non-profit organization of the year 2015”. Safety Line Association received both the Jury Award (in the category of big organizations) and the Public Award. Congratulations! Safety Line Association provides highly qualified services of telephonic crisis intervention to children and juveniles for more than 20 years. The organisation is accredited within the social welfare system of the Czech Republic and is member of a global association of children helplines "Child Helpline International" (CHI).

The Supreme Court of the Czech Republic decided to respond to what seems to be a negative trend recently, the issue of abusive insolvency petitions. Such petitions are filed in attempt to harm third persons, especially by negative consequences resulting from the publication of their name in the insolvency register.In its decision issued earlier this year under ref. no. 8 Tdo 1352/2014 the Criminal Division of the Supreme Court rejected the appeal of a person convicted for the offenses of extortion and defamation on the basis of filing an abusive insolvency petition. The decision was subsequently included in the so-called…

Approval of reorganization planOn 30. 06. 2015 the Supreme Court of the Czech Republic interpreted the provision of Sec. 348 of Law no. 182/2006 Coll., on Bankruptcy and Its Resolution (Insolvency Act), (hereinafter referred to as „the Law“), which governs the conditions for approval of the reorganization plan by the court.The Supreme Court expressly stated that the conditions for approval of the reorganization plan enumerated in Sec. 348 paragraph 1 let. a) to e) of the Law must be assessed by courts individually and separately; as such compliance with one of the conditions cannot lead to an automatic conclusion that…

Insolvency and profit from the lease of pledged thing In April 2015 the Supreme Court of the Czech Republic issued a decision which has been published recently under ref. No. 29 NSCR 31/2013. The decision dealt with the question, who shall be entitled to collect rent paid in the course of insolvency proceeding for the lease of pledged property.The Supreme Court concluded that in case there is no other agreement between the pledgee and the pledgor, the rent received from lease of a thing pledged pursuant to Sec. 152 et seq. Civil Code shall not belong to pledgee from the…

Legal assistance of our law office to Uranium Industry a.s. With the assistance of our law office, Uranium Indunstry a.s. entered into a Contract with the Canadian company Denison Mines and obtained uranium exploration rights in Mongolia. The signing is a significant move forward towards the initiation of commercial mining of uranium in Mongolia and meets the objective of the Czech Republic to return to the Mongolian mining market on which the former Czechoslovakia played a leading role prior to 1989. This effort of the Czech Republic was demonstrated by the open support of the transaction by the Czech Senate…

A close person to the debtor in insolvency proceedingsIn April this year the Supreme Court of the Czech Republic issued decision No. 29 ICdo 80/2014 in which it dealt with the issue of close person to the legal entity in insolvency proceedings and the issue of ineffective juridical acts.The Supreme Court expressly stated that the fact itself that an executive director of a limited liability company is a spouse of an executive director of another limited liability company does not make the companies legally connected. The Supreme Court confirmed there is no reason to modify such conclusion for the needs…