We would like to inform you that on 11 November 2020, the president of the Czech Republic has signed two new acts.

The first act is the Law on Compensation Bonus for the self-employed.

The second act signed is the novelisation of Act No. 191/2020 Coll., on Certain Measures to Reduce the impact of the Coronavirus SARS CoV-2 epidemic on participants of court proceedings, injured persons, crime victims and legal persons and on the amendment of the Insolvency Act and the Civil Procedure Code.

• The novelisation regulates the foreclosure of movables and immovables. Both are, with exceptions, halted until the end of January 2021.
• Legal persons in temporary financial difficulties are not obliged file for insolvency until the end of June 2021.
• The mandatory approval of creditors for the extension of the moratorium of insolvency filings is now abolished
• The novelisation extends the period in which the debtor receives a onetime higher payout from his impounded account.
• The quadruple minimum sustenance instead of the usual double will be paid out until the end of February 2021 instead of until the end of December 2020.

Do not hesitate to contact us in case of any questions.