Banks and government agree on need to boost creditors' rights
Published:
10 April 2004 y., Saturday
Czech national bankThe heads of the largest Czech banks and the prime minister Vladimir Spidla have agreed on the need to strengthen creditors' rights by amending the bankruptcy law. The banks see such an amendment as extremely urgent.
The law on bankruptcy is crucial for the terms of loans to small and mid-sized companies. Bankers say the availability and cost of loans are being adversely affected by the fact that the current system is highly inefficient. The prime minister has also previously said that the existing law on bankruptcy was very bad.
The planned amendment should also introduce a register of insolvent firms and set deadlines for courts to make decisions. The existing Czech bankruptcy legislation has been criticised by international institutions, such as the International Monetary Fund and the European-Czech Forum. They say that the law undermines the country's potential for attracting foreign investment.
Šaltinis:
radio.cz
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Statistics Lithuania has calculated that, based on provisional data, FDI in Lithuania in 2009 amounted by 5.3 % more than in 2008. Also, direct investment of Lithuanian enterprises abroad grew by 13.9 % in 2009.
more »
Concerns about foreign fish being sold in Europe and what to do about the future of Europe's fisheries industry were aired in a hearing held by the Fisheries Committee on 8 April.
more »
EU opens public debate on its agricultural policy, the prelude to a major reform in 2013.
more »
The European Commission today launched a €35 million call for eco-innovation projects to be funded under the Competitiveness and Innovation Programme.
more »
Bank SNORAS group company Finasta Holding recruits all funds management and investment companies of the group in the Baltic States.
more »
The European Central Bank (ECB) and the European Commission are jointly holding a high-level conference on financial integration and stability at the ECB’s premises in Frankfurt am Main.
more »
Today, the European Central Bank (ECB) is publishing its fourth Report on Financial Integration in Europe, which notes the return towards integration in the European financial markets.
more »
World Bank Group financial commitments since July 2008, just before the full fury of the financial crisis hit, reached US$ 100 billion today as the institution helped countries respond to and recover from the global downturn.
more »
On March 31, 2010, the Executive Board of the International Monetary Fund concluded the Article IV consultation with Serbia.
more »
The International Monetary Fund and the United Kingdom’s Department for International Development have launched a new project to improve macroeconomic statistics in 23 African countries. DFID will provide US$7.5 million over the next five years to support the project.
more »