On 1 April 2020, the Government of the Czech Republic approved, as expected, a bill allowing all debtors under loan agreements or similar contracts to notify their creditors of their intention to make use of a so-called protective period, through which all debt payments (instalments) to the creditor are deferred. This protective period will last, at the debtor's discretion, until 31 July 2020 or 31 October 2020 (in the event the debtor does not specify its duration in the notification to the creditor, the period will last until 31 October 2020) and will begin no earlier than on 1 May 2020.
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