THE MOST SIGNIFICANT CHANGES IN ACT ON BANKRUPTCY AND RESTRUCTURING IN 2017

During the year 2017, several amendments to the Act No. 7/2005 Coll. on Bankruptcy and Restructuring (“Act”) have entered into effect. Main amendments to the Act have been made in relation to restructuring (tightening of conditions and rules) and debt relief of natural persons, while the amendments thereto are rather substantial.