• Amendments, regarding the transfer of commercial enterprises and the transfer of company shares

Upon the commercial enterprises transfer registration the transferor should submit with the Commerce Register and the Register for Non-Profit Legal Entities with the Registry Agency (“the CR”) a sample declaration that there aren’t any outstanding remunerations, compensations, social security instalments due of the employees, including those whose labour relations have been terminated up to three years before the transfer of the enterprise.

Analogically, upon the transfer of company shares the managing director of the company, as well as the owner of the shares transferred, are obliged to present such a declaration.

For the declaration submitted, the Registry Agency instantly notifies the Executive Agency “Labour Inspectorate” (“the Executive Agency”). Upon notifcation or at its own initiative the Executive Agency verifies the accuracy of the facts

declared. In case of establishment of any non-compliances between the declared and the established facts, it swends the results of the verification to the prosecution authorities.

Samples of the declarations are presented on the website of the CR.

  • Amendments, concerning the entries within insolvency procedures

There is no longer a requirement for the receivables originating from effective labour relations and terminated labour relations to be available for the term of up to 6 months prior to the entry of the resolution of the court to initiate insolvency procedure. Thus, the trustee is no longer obliged to enter such receivables in the list of claims allowed ex officio within the term of 6 months.

  • Amendments, concerning the voting on the stabilization plan proposed

Upon the voting of the stabilization plan proposed the class of creditors entitled with receivables originating from effective labour relations and terminated labour relations has been expanded. From now on in the process of voting of the stabilization plan among the participants shall also be the workers and employees whose labour remunerations, compensations, mandatory social security contributions, have arisen before the determination of a date for initiation of the stabilization proceedings. Therefore, for the inclusion of the latter in this class of creditors their receivables should not necessarily (contrary to the legal regulations of the previous formulation of the Commerce Act) have arisen up to 6 months prior to the date of the court resolution for initiation of the stabilization procedure.

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