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Insolvency of a Slovak debtor

Your Slovak customer is in bankruptcy or restructuring

From publication in the Slovak Insolvency Register, a period for lodging your claim runs: 45 days in bankruptcy, 30 days in restructuring. We check the status of the proceedings, prepare and lodge the claim, and represent you in dealings with the trustee, before the court and at the creditors’ meeting.

We act for foreign companies with unpaid invoices for goods, carriage or works against a Slovak customer in respect of which a Slovak court has declared bankruptcy, authorised restructuring or — in the case of a natural person — decided on debt relief (oddlženie). A lawyer of the firm is entered in the list of trustees kept by the Ministry of Justice of the Slovak Republic.

We work in English and Slovak and can run the whole matter remotely.

Send us the file+421 907 823 239
Who we act for

Who this page is for

We represent foreign creditors in proceedings conducted by a Slovak court under Act No. 7/2005 Coll. on bankruptcy and restructuring. We advise exclusively on Slovak law; questions governed by the law of another country — for example the validity of the contract or of a retention of title under foreign law — we handle in cooperation with the client’s lawyer in the client’s own country.

Suppliers with unpaid invoices

Goods, carriage, construction subcontracts or services supplied to a Slovak company that is in bankruptcy or restructuring. A claim that arose before the declaration of bankruptcy is asserted by lodging it with the trustee (prihláška pohľadávky) — litigation over it is stayed and enforcement is discontinued.

Suppliers with retention of title

Goods which, under the contract, are to remain your property until paid for in full and which are in the debtor’s possession. A choice has to be made between having the item excluded from the inventory of assets and lodging a claim, which gives you a position similar to that of a secured creditor.

Creditors holding security

A pledge over the debtor’s assets, a third-party guarantee or other security. A security right over the debtor’s assets has to be asserted directly in the lodgement of the claim and within the basic period, otherwise it is disregarded in the bankruptcy. Claims against guarantors remain preserved even after confirmation of the restructuring plan (Section 155(4)) and after the debtor’s debt relief (Section 166e(3)).

Creditors of a sole trader in debt relief

The debtor is a natural person carrying on business (in Slovakia typically a sole trader — živnostník) who is seeking debt relief. Debt relief also covers claims that the creditor has not lodged: a creditor that does not lodge receives nothing from the bankruptcy, and the unsatisfied part of the claim becomes unenforceable against the debtor.

What it rests on

The deadlines and rules that matter

Slovak law has three collective proceedings that a foreign creditor encounters: bankruptcy (konkurz — the debtor’s assets are realised and creditors are satisfied proportionately), restructuring (reštrukturalizácia — the business continues and creditors are satisfied under a plan on which they vote and which the court confirms) and debt relief of a natural person (oddlženie). All three are governed by Act No. 7/2005 Coll. on bankruptcy and restructuring, and all three are insolvency proceedings under Annex A to Regulation (EU) 2015/848 of the European Parliament and of the Council on insolvency proceedings. Under Article 7 of the Regulation, the proceedings and their effects are governed by the law of the State in which they were opened — the rules on lodging, verification and ranking of claims are therefore Slovak even where the contract with the customer itself is governed by another law. In each of these proceedings the court appoints a trustee (správca): a person entered in the list of trustees kept by the Ministry of Justice, who administers the debtor’s assets in bankruptcy, supervises the debtor’s business in restructuring (Section 129(1)) and examines the lodged claims. Under Section 199(1) of the Act, decisions and documents of the court and of the trustee are served by publication in the Insolvency Register, which is publicly accessible on the Ministry’s website. The periods for lodging claims run from that publication, not from the moment the creditor learned of the proceedings: the basic period is 45 days from the declaration of bankruptcy and 30 days from the authorisation of restructuring.

Bankruptcy: 45 days from publication in the Insolvency Register

Under Section 28(2) of Act No. 7/2005 Coll., a claim is lodged within the basic period for lodging claims, that is, within 45 days of the declaration of bankruptcy. Under Section 23(1), bankruptcy is declared by publication of the court’s order (uznesenie) declaring bankruptcy in the Insolvency Register; under Section 199(7), a document is deemed published on the day following its publication in the Register. The day that determines the start of the period is not counted in it, and if the last day falls on a Saturday, a Sunday or a public holiday, the last day of the period is the next working day (Section 203a(1) and (2)). For a foreign creditor the key rule is Section 203a(3): the period is observed if the submission is delivered to its addressee no later than the last day of the period — dispatching it on that day is not enough. Under Section 197(3), the Act does not allow a missed deadline to be excused. A lodgement delivered after the period is not lost: under Section 28(3) it is taken into account, but the creditor cannot exercise the voting right or the other rights attached to the lodged claim and can be satisfied only from proceeds included in a distribution from the general estate where the intention to draw it up was announced in the Insolvency Register only after the lodgement was delivered. The creditor therefore does not share in distributions announced earlier.

Under Section 30(2) of the Act, a submission by which a claim has been asserted cannot be corrected or supplemented, and under Section 29(1) a lodgement that was not made in the prescribed manner or does not contain the basic particulars is disregarded. A new lodgement made after the basic period has expired is already a late lodgement, with the consequences under Section 28(3). We therefore do not recommend preparing the lodgement in the last days of the period.

With whom, in what form and in what language

The claim is lodged not with the court but with the trustee. As a general rule it is lodged exclusively electronically, by an authorised form sent to the trustee’s electronic mailbox. For a foreign creditor within the meaning of Article 2(12) of Regulation (EU) 2015/848 — a creditor which has its habitual residence, domicile or registered office in another Member State — Section 28(2) of the Act lays down a special regime: the claim is lodged with the trustee, and the Civil Contentious Procedure Code applies mutatis mutandis to service; a creditor with its registered office outside the Member States lodges its claim in the same way. The Regulation adds three safeguards. Under Article 53, a foreign creditor may lodge a claim by any means of communication accepted by the law of the State of the opening of proceedings, and representation by a lawyer is not mandatory for the sole purpose of lodging the claim. Under Article 55(1), it may use the standard claims form headed “Lodgement of claims”, set out in Annex II to Commission Implementing Regulation (EU) 2017/1105; if it does not use it, the claim must, under Article 55(4), contain the information listed in Article 55(2). And under Article 55(5), a claim may be lodged in any official language of the institutions of the Union, although the court or the trustee may require a translation into Slovak. Under Section 29(1) of the Act, the basic particulars of a lodgement are identification of the creditor and of the bankrupt (úpadca), the legal basis of the claim, the ranking for satisfaction from the general estate, and the total amount of the claim, which under Section 29(4) is broken down into principal and ancillary claims (príslušenstvo), with the ancillary claims broken down further by the legal basis on which they arose. The claim is asserted in euros; if it is asserted in another currency, the trustee determines the amount by conversion at the reference exchange rate determined and published by the European Central Bank or the National Bank of Slovakia on the day bankruptcy was declared (Section 29(5)). Documents proving the facts stated are attached to the lodgement, and a creditor that is an accounting entity declares in it whether and to what extent it carries the claim in its accounts (Section 29(6)).

A creditor that has no habitual residence, domicile or registered office in the territory of the Slovak Republic is obliged under Section 29(8) of the Act to appoint a representative for service with a domicile, habitual residence or registered office in Slovakia and to notify the trustee of this — otherwise documents are served on it by publication in the Insolvency Register. Where the claim is lodged by a representative and the power of attorney is not attached to it, the lodgement is disregarded under Section 28(2). The right under Article 53 of the Regulation to lodge without a lawyer concerns only the lodging of the claim itself.

What bankruptcy changes about recovery: litigation, enforcement, set-off, security

Under Section 47(1) of the Act, the declaration of bankruptcy stays all court and other proceedings that concern assets subject to the bankruptcy belonging to the bankrupt — and so also an action in which a foreign supplier is suing for payment of its invoices. Under Section 48, enforcement proceedings cannot be commenced against assets subject to the bankruptcy during the bankruptcy, and enforcement proceedings already commenced are discontinued upon the declaration of bankruptcy; if the enforcement officer has already realised assets but has not yet paid the proceeds out to the creditor, the proceeds become part of the bankruptcy estate. From then on the claim is asserted by lodging it (Section 28(1)), and under Section 28(6) lodging has the same effects on the running of the limitation period and on the extinction of the right as asserting the right in court. Bankruptcy does not rule out set-off altogether, but restricts it: under Section 54(1), a claim that arose against the bankrupt before the declaration of bankruptcy cannot be set off against a claim of the bankrupt that arose only after it, and under Section 54(2) a claim that has not been lodged cannot be set off against any claim of the bankrupt. Anyone wishing to set off must therefore lodge first. A secured creditor must also assert the security right in the lodgement properly and in time — within the basic 45-day period — otherwise it is disregarded in the bankruptcy (Section 28(4)); a separate lodgement is made for each secured claim, stating the secured amount and the type, ranking, subject matter and legal basis of the security right (Section 29(2)). A creditor whose claim is against another person but is secured by assets of the bankrupt must lodge as well (Section 28(7) and (8)).

Under Section 28(5), a future or conditional claim can also be lodged — for example a claim arising from withdrawal from a contract under Section 45(2) of the Act; the lodgement must state the fact or condition on which the claim depends (Section 29(3)). A contractual penalty, and a claim of a creditor that is, or at any time since the claim arose was, related to the bankrupt — for example a shareholder with a qualifying holding of at least 5 % under Section 9 — are, under Section 95(3), satisfied only as subordinated claims, and security for them is disregarded in the bankruptcy. For assets that were situated in another Member State at the time of the opening of proceedings, creditors’ rights in rem and retention of title are protected by Articles 8 and 10 of Regulation (EU) 2015/848.

Denial of the claim and the action for determination of the denied claim (incidenčná žaloba)

The trustee examines each lodged claim and compares it with the debtor’s accounts and records (Section 32(1)). A claim may be denied by the trustee or by another creditor that has lodged a claim — as to its legal basis, enforceability, amount, ranking, security or the ranking of the security right (Section 32(2)) — within 30 days of the expiry of the basic period for lodging claims or, in the case of a late lodgement, within 30 days of its entry in the list of claims (Section 32(3)); for the trustee the court may extend the period, even repeatedly, each time by no more than 30 days (Section 32(4)). A claim not denied within the period is deemed established (Section 32(16)). The creditor of a denied claim must seek its determination by an action in court against all those who denied it, within 30 days of publication of the denial in the list of claims, otherwise that right is extinguished (Section 32(8)) and the trustee records, to the extent of the denial, the end of the creditor’s status as a party to the proceedings (Section 27(2)(c)). The period is observed even where the action was filed in time with a court that lacks jurisdiction. The action may seek no more than was stated in the lodgement (Section 32(13)). The period runs from publication of the denial in the list of claims in the Insolvency Register, not from delivery of a letter to the creditor — the Register therefore has to be monitored once the period for lodging claims has expired.

Where the claim was denied only by another creditor, a condition for filing the action is proper and timely payment of an advance on the costs of the proceedings (Section 32(10)): two per cent of the amount of the disputed claim or, where only the amount is denied, two per cent of the denied amount, not less than 350 euros and not more than 10 000 euros (Section 32(19)). An advance in the same amount is also paid by a creditor that denies another creditor’s claim (Section 32(6)(b)). A person who denied a claim that the court upheld even in part is liable to its creditor for the damage caused by the denial, unless that person proves that it acted with professional care (Section 32(5)). For a claim awarded by an enforceable decision or secured by a registered pledge, the court may be asked, through the trustee, to grant voting rights even while the dispute is pending (Section 32a).

Restructuring: 30 days and no late lodgement

In restructuring the claim must be lodged within 30 days of the authorisation of the restructuring, otherwise it is disregarded (Section 121); restructuring is authorised by publication of the court’s order in the Insolvency Register (Section 118(1)). Unlike in bankruptcy, there is no such thing as late lodging here. The consequence is strict: under Section 120(1) and Section 155(2), upon publication of the order confirming the plan, the right of a creditor that did not lodge its claim properly and in time to recover it from the debtor is extinguished, as are security rights over the debtor’s assets that were not lodged properly and in time. Only so-called priority claims (prednostné pohľadávky) are not asserted by lodging, in particular those that arose only during the restructuring proceedings (Section 120(2)). The manner of lodging is the same as in bankruptcy (Section 121), and the particulars of the lodgement are governed mutatis mutandis by Section 29(1) to (6) and (8) — and so also by the rules on conversion of foreign currency and on the representative for service (Section 122(1)); a security right not asserted in the lodgement means that the claim is treated as unsecured in the restructuring. The commencement of restructuring proceedings — that is, even before the restructuring is authorised — already has effects which a supplier feels immediately (Section 114(1)): for a claim that is asserted by lodging, enforcement cannot be commenced and enforcement already commenced is stayed, such a claim cannot be set off against the debtor, and the other contracting party cannot terminate the contract by notice or withdraw from it on account of the debtor’s delay with a performance to which that party became entitled before the commencement of the proceedings; contractual provisions that would allow the contract to be terminated on the ground of restructuring proceedings or bankruptcy proceedings are also ineffective. A party that is to perform first under the contract may refuse performance until the counter-performance is provided or secured (Section 114(3)). The authorisation of the restructuring stays court and arbitration proceedings concerning the claims being lodged (Section 118(4)).

In restructuring a claim may be denied only by the trustee, within 30 days of the expiry of the period for lodging claims (Section 124(2)). The creditor of a denied claim must, within 30 days of the expiry of the period for denying claims, file an action against the debtor (Section 124(4)), otherwise the claim is disregarded to the extent denied and, after confirmation of the plan, cannot be recovered from the debtor to that extent (Section 124(5)). Creditors vote on the plan in groups at the plan approval meeting; the required majorities are laid down in Section 148. The court rejects the plan, among other cases, where any unsecured claim — other than those that would be satisfied as subordinated claims in bankruptcy — is to be satisfied as to less than 50 % or over a period longer than five years, unless the creditor concerned consents in writing (Section 154(1)(g) and (h)). Rights against the debtor’s co-debtors and guarantors remain unaffected by the plan (Section 155(4)).

The debtor is a sole trader or a small company: debt relief and small bankruptcy

Where the debtor is a natural person — including an entrepreneur, in Slovakia typically a sole trader (živnostník) — that person may, under Section 166(1) of the Act, seek debt relief by bankruptcy or by a repayment schedule, regardless of whether the obligations stem from business. Claims that arose before the calendar month in which bankruptcy was declared or protection from creditors was granted can be satisfied only in the bankruptcy or under the repayment schedule, and in the bankruptcy they are asserted by lodging (Section 166a). The court decides on debt relief already in the order declaring bankruptcy or determining the repayment schedule (Section 166e(1)), and under Section 166e(2) these claims become unenforceable against the debtor regardless of whether or not they were lodged. The exception for a creditor whom the trustee did not notify in writing of the declaration of bankruptcy applies, under Section 166c(1)(a), only to creditors who are natural persons; a foreign company cannot rely on it. The claim is lodged within the basic period of 45 days from the declaration of bankruptcy; later it can still be lodged until the trustee publishes a notice of the intention to draw up a distribution schedule, but the creditor cannot exercise the voting right (Section 167l(1) and (3)). The court discontinues court proceedings concerning such claims (Section 167e(1)), and enforcement against assets subject to the bankruptcy can be neither commenced nor continued (Section 167f(1)).

In debt relief, what is unenforceable against the debtor under Section 166b(1) includes, among other things, ancillary claims exceeding 5 % of the principal for each calendar year of the claim’s existence, and contractual penalties. A secured claim remains unaffected by debt relief to the extent that it is covered by the value of the subject matter of the security right (Section 166c(1)(c)), and the claim remains enforceable against a guarantor (Section 166e(3)). A creditor affected by the debt relief may, within six years of the declaration of bankruptcy or the determination of the repayment schedule, seek cancellation of the debt relief if it proves that the debtor did not have an honest intent (Section 166f(1)). Small bankruptcy (malý konkurz) is a simplified bankruptcy of a legal person neither the liabilities nor the assets of which exceeded 1 000 000 euros according to its last five financial statements (Section 106c(1)(f) and (g)); the court states in the operative part of the order that it is a small bankruptcy (Section 106c(4)). Section 167l applies mutatis mutandis to the lodging and denial of claims in it (Section 106h) — a claim can therefore be denied only by another creditor that has lodged a claim (Section 167l(5)). A creditor that has lodged a claim may, within six months of the declaration of small bankruptcy, by paying an advance, have the court declare bankruptcy under the general provisions (Section 106j(1)).

Procedure

How it runs

1

Checking the status of the proceedings

In the Slovak Insolvency Register we check which proceedings are under way — bankruptcy, small bankruptcy, restructuring or debt relief — when the order was published, who the trustee is and when the period for lodging claims expires. Under Articles 24, 25 and 27 of Regulation (EU) 2015/848, the mandatory information on the proceedings, including the time limit for lodging claims, is also to be available free of charge via the European e-Justice Portal, with a search service in all the official languages of the institutions of the Union. We do not recommend waiting for the individual notice from the trustee under Article 54 of the Regulation: the periods under the Slovak Act run from publication in the Register. At the same time we establish what effect the proceedings have on your litigation or enforcement against the debtor.

2

Calculating the claim and lodging it

We quantify the principal and the ancillary claims by legal basis, convert foreign currency into euros, determine the ranking and — if you hold security or a retention of title — agree with you how to assert it. We deliver the lodgement, with its annexes and the power of attorney, to the trustee so that it reaches the trustee before the period expires. As a firm established in Slovakia, we can also act as your representative for service under Section 29(8) of the Act.

3

Examination of claims and defence against denial

During the period for denying claims we monitor the list of claims in the Insolvency Register and communicate with the trustee. If the claim is denied, we file an action for its determination within the 30-day period. Where there is reason to do so, we propose that you deny claims of other creditors that unjustifiably reduce your share; this entails paying an advance on the costs of the proceedings.

4

Creditors’ meeting and creditors’ committee

The trustee convenes the first creditors’ meeting within 55 days of the declaration of bankruptcy so that it is held no earlier than 30 and no later than 45 days after the expiry of the period for denying claims (Section 34(1)). A creditor whose claim is established as to its legal basis and enforceability has the right to vote — one vote for each euro of the established amount (Section 35(4)). The meeting decides on replacing the trustee (Section 36) and elects a creditors’ committee of three or five members (Section 37(1)), which gives the trustee binding instructions on the administration and realisation of the assets of the general estate (Section 82). We represent you at the meeting; the Act also allows a meeting to be held by videoconference (Section 34(5)). In restructuring we represent the creditor at the creditors’ meeting (Section 126) and in the vote on the plan at the plan approval meeting (Sections 147 and 148).

5

Distribution and payment

Before drawing up the distribution schedule the trustee publishes a notice of the intention to draw it up (Section 96(2)); on the basis of the approved distribution schedule the trustee pays out the undisputed part of the proceeds to the creditors (Section 96(5)). We check that your claim is included in the distribution schedule in the correct amount and ranking, and give the trustee the details needed for payment abroad. Under Section 96(7), the creditor itself bears the costs of satisfaction of its claim.

Documents

What we need from you

Send what you have available as scans or photographs; originals are not needed at this stage. The documents may be in your language — we will tell you which of them will need to be translated into Slovak.

  • The contract, framework agreement or purchase orders, including the terms and conditions — in particular the provisions on the applicable law, payment terms, default interest and retention of title.
  • Unpaid invoices and proof of delivery: delivery notes, CMR consignment notes, handover protocols, statements of work performed.
  • A statement of payments and the outstanding balance of the claim from your accounts — the lodgement contains a declaration of whether and to what extent you carry the claim in your accounts.
  • Court decisions, payment orders and other enforcement titles against the debtor, and information on pending litigation and enforcement proceedings.
  • Security documents: the pledge agreement and confirmation of registration of the pledge, the guarantor’s declaration and, for retention of title, precise identification of the goods and of the place where they are located.
  • Acknowledgements of debt, instalment agreements, mutual set-offs and correspondence with the debtor about the claim.
  • Everything you have received from the trustee or the court — in particular the “Notice of insolvency proceedings” under Article 54 of Regulation (EU) 2015/848.
  • An extract from the commercial or equivalent register for your company, and details of the person who will sign the power of attorney.
Fees

What it costs

The scope and the fee are agreed in advance and in writing. You know the price for checking the proceedings and for lodging the claim before we start work.

Checking the proceedings and assessing the matter

fixed fee agreed in advance

We check the status of the proceedings in the Insolvency Register, calculate the deadline, go through the documents and set out the procedure we propose. We quote the fee before any work starts; if you decide not to go ahead, the matter ends there.

Lodging the claim

fixed fee per step

Quantifying the claim, preparing the lodgement with its annexes and delivering it to the trustee, including asserting the security right. Agreed as a fixed sum for the step, not at an hourly rate.

Dispute over a denied claim and further representation

fixed fee or contingency fee

Under Section 7(1) of Decree of the Ministry of Justice of the Slovak Republic No. 655/2004 Coll., a contingency fee may be agreed in the form of a percentage share in the value of the matter; under Section 7(2) its maximum amount may not exceed 20 % of that value. Under Section 8(1) of the Decree it becomes payable only where the client has been fully successful in the matter; where the client is partly successful the lawyer is entitled under Section 8(2) to the tariff fee determined according to the degree of success, and where the client has not been successful even in part the lawyer may under Section 8(3) claim only reimbursement of out-of-pocket expenses.

Out-of-pocket expenses arise alongside the lawyer’s fee, in particular translations into Slovak if the trustee or the court requires them (Article 55(5) of Regulation (EU) 2015/848). The claimant in proceedings for determination of a denied claim and the claimant in proceedings for exclusion of assets from the inventory are exempt from the court fee under Section 4(2)(t) and (q) of Act No. 71/1992 Coll. on court fees. Where the claim was denied only by another creditor, however, an advance on the costs of the proceedings has to be paid before the action is filed, in the amount of two per cent of the disputed amount, not less than 350 euros and not more than 10 000 euros (Section 32(10) and (19) of Act No. 7/2005 Coll.). In these proceedings a successful represented party is entitled to reimbursement of the tariff fee as for representation in enforcement (Section 32(11)). The outcome of proceedings depends on the circumstances of the individual case, in particular on the debtor’s assets, the amount of the other claims and the ranking of your claim.

No obligation

Send us the details of the debtor and the claim

Tell us who the debtor is, what claim you have against it and what you have learned about the proceedings — and, if you know it, the date of publication in the Insolvency Register. The deadlines are short and the Act does not allow a missed deadline to be excused, so we recommend writing without delay. We will get back to you and set out the next steps. Submitting this form does not create a lawyer-client relationship.

+421 907 823 239klienti@tkak.sk
FAQ

Frequently asked questions

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The legislation this page is based on

Act No. 7/2005 Coll. and Decree No. 665/2005 Coll. are cited as in force from 1 October 2025. The full text of each instrument is available on Slov-Lex and EUR-Lex. The information above is general and does not replace advice on an individual matter.