In 2023, an amendment to Act No. 7/2005 Coll. on Bankruptcy and Restructuring, as amended, introduced a centralized electronic system for the administration of bankruptcy proceedings, restructuring proceedings, debt relief proceedings, public preventive restructuring proceedings, and proceedings on liquidation and supplementary liquidation (the “Insolvency Register”).

The originally planned effective date of the legislative change, i.e., January 1, 2025, has been pushed back, under another adopted amendment, to October 1, 2025, because the Insolvency Register was not ready to be launched then.

Pursuant to the explanatory memorandum to the amendment, by introducing the Insolvency Register, the state aims to unify insolvency processes in electronic form, to remove barriers to doing business, speed up proceedings, as well as reduce the time and costs required to wind up a business.

Last but not least, the introduction of the Insolvency Register should also lead to the creation of an efficient and transparent mechanism for pre-insolvency, insolvency and restructuring proceedings.