Personal liabilities in a corporate context
Prepared by AmCham member: Squire Sanders
In the amendment to the Act on Bankruptcy and Restructuring 1 No. 348/2011 Coll. (“Amendment”), important changes have been made to bankruptcy law that regulates those areas which in practice have proven to be problematic or ineffective. This article demonstrates the need to deepen legal and economic supervision by statutory bodies, their members, liquidators of companies, and statutory representatives of companies resulting from the new legal regulations regarding bankruptcy proceedings, which came into force as of January 1, 2013.
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