Jiřina Lužová, the appointed administrator overseeing the insolvency proceedings of Sberbank CZ, has submitted a request to the insolvency court seeking approval for the disbursement of CZK 57 billion to around 16,000 creditors. The Prague City Court declared Sberbank CZ bankrupt at the end of August, and the Czech National Bank (CNB) subsequently revoked the bank’s banking license in early May, leading to the bank’s liquidation by the Prague City Court. In the absence of opposition from any creditors, the insolvency administrator will initiate the disbursement as soon as the insolvency court’s decision to permit the partial distribution becomes legally binding.