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11-8-2020, 15:46 UTC
[12.01.2004 18:40 UTC] Více autorů
IMF criticises Czech Republic's courts and bankruptcy law

The International Monetary Fund has criticised the Czech Republic for continuing shortcomings in the judicial and legal systems and for weaknesses in corporate governance. In its Report on the Observance of Standards and Codes released on Monday, the International Monetary Fund or IMF said Czech courts suffered from insufficient resources and lack of wider experience among the judges in understanding modern business law and corporate finance. Other problems, stated by the IMF, include costly, cumbersome and non-transparent court proceedings. According to the IMF, slow court proceedings lead to significant backlog of filed and pending bankruptcy cases and weak legal protection of creditors' rights.