{"id":4374,"date":"2019-07-06T13:29:43","date_gmt":"2019-07-06T11:29:43","guid":{"rendered":"https:\/\/burilpartners.cz\/insolvency-amendment-act-as-of-1-june-2019\/"},"modified":"2019-11-04T14:39:54","modified_gmt":"2019-11-04T13:39:54","slug":"insolvency-amendment-act-as-of-1-june-2019","status":"publish","type":"post","link":"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/","title":{"rendered":"Insolvency (Amendment) Act as of 1 June 2019"},"content":{"rendered":"

Insolvency (Amendment) Act as of 1 June 2019<\/p>\n

Responding to the debt situation of a significant number of debtors caught in a debt trap, the amendment allows private individuals to be discharged from bankruptcy subject to the satisfaction of less strict conditions. A bankruptcy discharge will be issued by a court if the court is satisfied that the debtor has sufficient income equalling at least the sum of unattachable amount and monthly administrator\u2019s and creditor\u2019s fee and that the debtor made all reasonable efforts to pay off his or her debt within the set time limit.<\/p>\n

The amendment provides for bankruptcy discharge in three cases:<\/p>\n

\u2022 If the debtor has paid back all of the total unsecured claims against the debtor.
\n\u2022 If the debtor has paid back at least
\n60% of the total unsecured claims against the debtor within three years of the approved bankruptcy discharge.
\n\u2022 If the debtor has paid back at least 30% of the total unsecured claims against the debtor within five years of the approved bankruptcy discharge or has made all efforts to satisfy the creditors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Insolvency (Amendment) Act as of 1 June 2019 Responding to the debt situation of a significant number of debtors caught in a debt trap, the amendment allows private individuals to […]<\/p>\n","protected":false},"author":1,"featured_media":4309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[73,75],"yoast_head":"\nInsolvency (Amendment) Act as of 1 June 2019 - Bu\u0159il Partners<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insolvency (Amendment) Act as of 1 June 2019 - Bu\u0159il Partners\" \/>\n<meta property=\"og:description\" content=\"Insolvency (Amendment) Act as of 1 June 2019 Responding to the debt situation of a significant number of debtors caught in a debt trap, the amendment allows private individuals to [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"Bu\u0159il Partners\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/burilpartners\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-06T11:29:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-04T13:39:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i2.wp.com\/burilpartners.cz\/wp-content\/uploads\/2019\/07\/Clanek-Ekzekuce.jpg?fit=1280%2C868&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"868\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"redakce\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"redakce\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/\"},\"author\":{\"name\":\"redakce\",\"@id\":\"https:\/\/burilpartners.cz\/#\/schema\/person\/7e66f85eac323a0f6a72b89837481ac0\"},\"headline\":\"Insolvency (Amendment) Act as of 1 June 2019\",\"datePublished\":\"2019-07-06T11:29:43+00:00\",\"dateModified\":\"2019-11-04T13:39:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/\"},\"wordCount\":183,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/burilpartners.cz\/#organization\"},\"image\":{\"@id\":\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/burilpartners.cz\/wp-content\/uploads\/2019\/07\/Clanek-Ekzekuce.jpg\",\"keywords\":[\"Finance\",\"Law\"],\"articleSection\":[\"Law\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/\",\"url\":\"https:\/\/burilpartners.cz\/en\/insolvency-amendment-act-as-of-1-june-2019\/\",\"name\":\"Insolvency (Amendment) Act as of 1 June 2019 - 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