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We announce with great anticipation that the new insolvency register will be launched this October. This central electronic system will replace the current register of bankrupts and will bring fundamental changes that will significantly improve the efficiency and transparency of processes.
What does the new insolvency register bring?
Publication of documents: Documents of parties, the trustee, or court decisions will be published directly in the register, thereby eliminating the need to inspect the file.
Access for public authorities: Public authorities will have access to documents, which eliminates the need for duplicate proving of facts by participants in the proceedings.
Comprehensive management of proceedings: The register will include bankruptcy and restructuring proceedings, debt discharge proceedings, public preventive restructuring, as well as liquidation and additional liquidation proceedings.
Unification and electronification of processes: The goal is to ensure a higher degree of efficiency and transparency, as well as a reduction in the costs and time of proceedings.
Why is it important?
The introduction of the new insolvency register represents a significant step towards the modernization and streamlining of legal processes. The electronification and unification of all processes will bring not only time and cost savings but also a higher degree of transparency and availability of information for all participants.
Although the insolvency register was supposed to be launched a year ago, due to the preparation of the information system, its launch was postponed to this October. We will find out how it will work in practice very soon.
