Changes to Restructuring and Bankruptcy Law for Businesses
The law introduces new rules for saving businesses from bankruptcy and for bankruptcy proceedings. The aim is to streamline these processes, better protect creditors and employees, and align regulations with European Union requirements.
Key points
Business rescue plans must now include more details, including the impact on employment and a full financial overview.
A requirement has been introduced to compare whether an arrangement with creditors is more beneficial than bankruptcy (the so-called satisfaction test), which is intended to protect creditors.
Secured creditors (e.g., with a mortgage) are guaranteed a minimum level of repayment, no worse than in the case of bankruptcy, unless they agree to other terms.
Bankruptcy proceedings are halted when a company is undergoing restructuring, giving it a chance to overcome the crisis.
The Ministry of Justice will collect and transmit data on bankruptcy and restructuring proceedings to the European Commission.
96%
VOTING RESULTS
2025-06-25
For
411
Against
2
Abstain
16
Status:
Enacted
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