TEN Q&A on bankruptcy and insolvency in Europe: Czech Republic
When can you be declared bankrupt in Czech Republic? The debtor is in bankruptcy if he / she has (i) at least two creditors, (ii)
3 August 2021
When can you be declared bankrupt in Czech Republic? The debtor is in bankruptcy if he / she has (i) at least two creditors, (ii)
1. When can you be declared bankrupt in France? Bankruptcy is a common term meaning that you can’t pay for your maturities or debts anymore,
1. When can you be declared bankrupt in Italy? In Italy, commercial entrepreneurs are subject to bankruptcy procedures, with the exception of state entities and
1. When can you be declared bankrupt in Sweden? A debtor that is insolvent shall by their own or their creditor’s application be declared bankrupt
When are you declared bankrupt? Reasons for bankruptcy are inability to make payments and over-indebtedness. Inability to make payments exists: -in case a debtor is
1. When are you declared bankrupt in Germany? In Germany there are two different possibilities: the debtor can declare himself bankrupt or a creditor can
1. When are you declared bankrupt? Two different Laws regulate the legal aspects of bankruptcy procedures: bankruptcy procedures of a natural person are regulated by
When are you declared bankrupt in Austria? The opening of insolvency proceedings presupposes the (imminent) economic collapse of an insolvent debtor. The decisive factor is
1. When are you declared bankrupt? Companies are declared bankrupt when they are unable to pay their certain, liquid and exigible debts. The minimum amount
1. When are you declared bankrupt in England & Wales? The only grounds for making a Bankruptcy Order against an individual is their inability to
1. When are you declared bankrupt in Belgium? In Belgium a debtor is declared bunkrupt if he has ceased to pay his creditors and when
When are you declared bankrupt? In Slovenia, bankruptcy is declared against a debtor who has become insolvent. A debtor has become insolvent if he is
1. When are you declared bankrupt? In Switzerland, bankruptcy is declared when a legal entity or a private person inscribed in the Commercial Register has
1: When are you declared bankrupt? In Finland bankruptcy can be declared if the debtor is unable to fulfill payments. Declaring the bankruptcy is decided
1. When are you declared bankrupt? In Poland, the matter of bankruptcy of debtors is specified in the Bankruptcy Law (the Act of 28 February
1. When are you declared bankrupt? The petition for bankruptcy can be filled by a court appointed liquidator, creditor or the company itself. Bankruptcy is
1: When are you declared bankrupt? Answer: In the Netherlands, bankruptcy is declared if the debtor is in the position that he has ceased to
1.1 Opening of the proceeding Bankruptcy can be petitioned for by one or more of the creditors of the debtor (involuntary filing), by the debtor
Copyright © 2026 TEN - The European Network e.V.. All rights reserved.
Chairperson of the Board:
Luiza Budusan, business-addressed: str. Baba Novac nr. 5A 400097, Cluj-Napoca, Romania
