How to Submit a Proposal

JUDr. Jiřina Lužová Law Office, acting as insolvency administrator, sells assets from debtors’ estates outside of auction through a selection procedure. Below you will find the general rules that apply to submitting proposals. Specific conditions (price, deadline, required attachments) may differ from sale to sale — always follow the rules stated in the specific asset listing. If we currently have no assets available for sale, you will find here at least the general framework we will follow in the next offering.

Where asset listings are published

We publish our intention to sell specific assets from the estate on this website, in the insolvency register for the relevant debtor, and where applicable on dedicated portals (e.g. www.asis.cz, www.burzaspravcu.cz). Please monitor the debtor’s insolvency register in particular — the binding rules for any specific sale are always available there.

Form and method of submission

Proposals are accepted in writing only, by one of the following methods:

By e-mail to ak@akluzova.cz,
By post to the registered office address: Dušní 22, 110 00 Prague 1,
In person at the registered office, in a sealed envelope clearly marked “Do not open — Proposal to purchase the debtor’s assets [debtor’s name]”.

Proposals submitted by any other means or after the stated deadline will not be considered. For a specific sale, the permitted method of submission may be further specified or restricted to one of the methods listed above.

What your proposal must include

Exact identification of the prospective buyer — for a natural person: full name, date of birth and address; for a legal entity: business name, registered address and registration number. Proposals from legal entities must be accompanied by a current extract from the commercial register (or other relevant register).
Signature of an authorised person — the proposal must be signed by the prospective buyer or a person authorised to act on their behalf (for legal entities, in accordance with the commercial register extract).
Identification of the asset — the exact name of the asset or the insolvency case number to which the proposal relates.
Proposed price — a specific and precisely stated amount in CZK (not a range or estimate), indicating whether the price is inclusive or exclusive of VAT.
Contact details — an e-mail address or telephone number for our reply.
A declaration by the prospective buyer that:
- they are purchasing the asset in its current condition (“as is”), i.e. without any warranty as to its characteristics beyond what is required by law,
- they are aware that they are required to pay the purchase price without delay upon request by the insolvency administrator, or in the manner specified in the rules of the particular sale,
- they are aware that all rights and obligations whose transfer is connected under Czech law with the acquisition of ownership of the asset (e.g. existing tenancy agreements in the case of real property) will pass to them as the acquirer.

The specific rules may supplement this list with additional requirements or attachments.

Price and payment terms

The method and timing of payment of the purchase price are set out in the rules of the specific sale (typically payment in cash prior to signing the purchase agreement, or by bank transfer to the estate account upon request by the insolvency administrator). By submitting a proposal, the prospective buyer confirms acceptance of these terms; they are not terms that the buyer may choose independently. Unless the rules of the specific sale provide otherwise, any tax on the transfer of the asset and fees associated with the transfer (e.g. registration in the land register) are borne by the buyer.

Submission deadline

Each asset listing states a deadline by which the proposal must be received (not merely sent). Proposals received after this deadline will not be considered. We recommend submitting proposals well in advance, particularly when sending by post.

What happens after submission

Once the submission deadline has passed, the insolvency administrator or the creditors’ body will evaluate all received proposals that meet the stated requirements and select the most advantageous one. Evaluation will generally be completed within 30 days of the deadline, unless the rules of the specific sale provide otherwise. We will notify the selected prospective buyer by e-mail or telephone.

Important notice

Submitting a proposal does not create any obligation on the part of the insolvency administrator to enter into a purchase agreement with the prospective buyer.
The insolvency administrator reserves the right to reject any proposal at any time without giving reasons, and further reserves the right to amend the terms and rules governing the handling of proposals.
Prospective buyers who submit a proposal have no right to compensation for any loss or damage they may suffer in connection with their participation in the selection procedure.

Need documents or have questions?

We are happy to send you the specific terms of sale and copies of relevant documents from the file. Write to us at ak@akluzova.cz referencing the specific asset listing.