Bankruptcy procedure speeding up. Several amendments to the Bankruptcy Act came into force, with the main aim being to speed up bankruptcy proceedings. For example, one amendment will no longer require a court hearing to review a bankruptcy petition. It will be required only if the debtor, the creditor or the trustee so requests, or if the court considers it necessary to hold a hearing. Consequently, an application for bankruptcy will be decided in a written procedure, as a general rule.
No business ban. In the event of the bankruptcy proceedings of a debtor who is a natural person, a business ban will not apply automatically to the natural person and, like in the case of a bankruptcy of a legal person debtor, the business ban will apply only if the court so decides.
Court must be specialized in bankruptcy law. Additionally, a number of significant amendments to the Bankruptcy Act came into force on 1 February, 2021. For example, those amendments will ensure that courts will be more specialized in insolvency matters, that the system of remuneration for bankruptcy trustees will change and that the circle of persons with an obligation to file a bankruptcy petition will expand.