We are among the pioneers of international bankruptcies in the Czech Republic and Slovakia. Our corporate, labor and banking law experts advise companies, insolvency administrators, managers and banks on cross-border reorganizations, restructurings and insolvency proceedings. Their unique experience with strategic and practical advice enables companies to continue to run or to be effectively transferred, secures investments and helps creditors to enforce their claims.
We are among the pioneers of international bankruptcies in the Czech Republic and Slovakia. Our corporate, labor and banking law experts advise companies, insolvency administrators, managers and banks on cross-border reorganizations, restructurings and insolvency proceedings. Their unique experience with strategic and practical advice enables companies to continue to run or to be effectively transferred, secures investments and helps creditors to enforce their claims.
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Bank Guarantees and Subrogation Recourse: A Turning Point in Czech Case Law
A recent landmark decision of the Czech Supreme Court (file no. 29 NSČR 62/2023, dated 30 July 2025) brings a fundamental shift in the treatment of recourse and statutory subrogation in connection with bank and financial guarantees. The Court confirmed that where a guarantor satisfies the borrower’s actual debt, it may step into the creditor’s position, including its security and ranking. While this clarification may significantly strengthen the position of banks acting as guarantors – particularly in insolvency – it also highlights potential risks for financing banks using financial guarantees as part of their security package.
When Walking Away From a Deal Can Cost Money
Czech law can require compensation for unfairly ending advanced negotiations once signing has become highly likely. The Supreme Court confirms that only the intended contracting party (not involved third parties) can claim such reliance costs.
Attorney May Be a Witness to a Will
A recent Czech Supreme Court ruling has provided clarity on witness eligibility in succession matters, confirming that an attorney may also act as a witness to an allographic will.