Upcoming changes in the Institute Discharge according to the planned amendment of the Insolvency Act

The Chamber of Deputies approved in August 2013, an amendment to the Insolvency Act, which among others, changes the regulation of the discharge. Due to the current statutory conditions a debtor-natural person, who is not an entrepreneur, may request for discharge. Newly for the discharge could request also natural person, which is doing business as a freelancer, on condition that his/her debts are not from doing his/her business.

Another news shall be the institution of a joint discharge of the spouses. The spouses shall be obliged to submit the application together and in the time of discharge shall be regarded as one debtor. The amendment must be still approved by the Senate and after being signed by the President it shall enter into force on 1.1.2014.