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Information for insolvency administrators with accounts of bankruptcy estates of insolvent debtors under the debt relief regime at Sberbank CZ:

The Financial Market Guarantee System is recommencing the payout of compensation for deposits on accounts of bankruptcy estates of insolvent debtors under the debt relief regime based on an interpretative opinion by the Ministry of Finance.

Prague, 30 March 2022 – From 4 April 2022, the Financial Market Guarantee System will recommence the payout of compensation for claims from deposits on the accounts of bankruptcy estates of insolvent debtors under the debt relief regime. The Guarantee System will follow the opinion of the Ministry of Finance, according to which the compensation will be paid to the relevant insolvency administrator.

With regard to the different interpretations of the relevant statutory provisions of the Act on Banks on the provision of compensation for claims from deposits where the insolvent debtor under the debt relief regime was identified to the bank as the owner of the funds by the insolvency administrator as the account holder, the Guarantee System requested an interpretative opinion from the Ministry of Finance and temporarily suspended the payout of such compensation.

In view of the subsequently received opinion from the Ministry of Finance, according to which it is possible to pay out compensation even in such cases to the insolvency administrator, the Guarantee System is recommencing the payout of compensation for this type of deposit from 4 April 2022. The deposit compensation will be paid to the relevant insolvency administrator. In this case, this involves around 6,000 deposits.

The payout of compensation for deposits on escrow accounts is continuing

At the same time, the Guarantee System will provide to the paying bank additional data concerning the payout of compensation for deposits on escrow accounts and for clients in insolvency proceedings, which will also be available from 4 April 2022. This involves another 5,093 clients who had deposits with the bank in a total volume of approximately CZK 374.2 million.


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