Implementing the Restructuring Directive in Slovakia

In Slovakia, the implementation of the restructuring directive continues to be worked on. Due to the bad pandemic situation, which lasted several months, this work was delayed. The implementation is supposed to take place either on the basis of a draft law on the amendment of law no. coll. 7/2005 on insolvency and restructuring or on the basis of a completely new law on the regulation of insolvencies and restructuring.

In particular, the goal of correct implementation should be to simplify, streamline and accelerate smaller insolvency proceedings in particular, to optimise the restructuring overall, and to regulate questions in connection with the specialisation of the competent authorities within the framework of the restructuring of large companies. However, the exact framework for implementation of the restructuring directive in Slovakia remains to be developed and published.

Autor: Monika Wetzlerová-Deisler