Digitalisation of Insolvency proceedings in Slovakia

The European Commission supports the Ministry of Justice of the Slovak Republic to digitalise the insolvency proceedings. The objective is to ensure insolvency processes are faster, transparent, more efficient, and less costly.

Context

From 2020 to 2022, the Commission supported the Slovak Republic to transpose the Directive (EU) 2019/1023 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt into national legislation. One of the highly resonating outcomes of that project was the need to introduce several forms of digitalisation within insolvency (e.g., electronic filing of claims, electronic handling of judicial files, etc.). and to develop digital skills within the Ministry of Justice and other Slovak key stakeholders for such digitalisation to happen. The project will support the digitalisation of insolvency proceedings which is also a priority under Slovak Recovery and Resilience Plan. 

Support delivered

The Commission provides support for a carefully planned digitalisation of insolvency procedures in Slovakia. The project consists of 

- Mapping the current state of digitalisation of insolvency 

- Analysis of EU good practices of digitalisation in insolvency cases

- Designing a fully digitalised system for insolvency procedures

- Drafting the technical specifications for the new IT digitalised system and an Action Plan for the implementation of the digitalised system for insolvency by the beneficiary and other key national stakeholders.

Results achieved

The expected result of the project is a framework of digitalised insolvency proceedings, that ensures faster, transparent, and more efficient proceedings in Slovakia. Shorter duration and lower costs of insolvencies are expected to have a positive impact on the business environment due to assumed higher recovery rates. The digitalisation of insolvency cases is expected to improve the efficiency of the insolvency proceedings and of the courts handling these cases and have a positive impact in the Slovak economy.