Slovak Financial Law News 2005

Partial Schedules of Proceeds

In order to satisfy the bankrupt's creditors in due time and effectively, the Act sets out that the trustee is obliged to draw up also partial schedules of proceeds which are subject to approval by the creditors' committee. If the creditors' committee approves of the proposal for a partial schedule, the trustee will satisfy the receivables of the particular creditors according to such schedule without delay.