This diploma work deals with the historical development of insolvency law in the Czech Republic, with the evaluation of legislation and its comparison with foreign countries. It is also a brief description of the various periods of bankruptcy proceedings, subjects and selected issues of insolvency proceedings. In the work diploma is also described present problems of insolvency proceedings, their appreciation of the former bankruptcy proceedings and the further view of their potential solutions. In the various points are outlined below and described in closer crimes and issues related to insolvency proceedings. In this work there are described not only details of individual acts of insolvency proceedings. Due to the work assignment and the extent the diploma work discribes the insolvency proceedings more in general, its history, selected problems, potential solutions, and expectations of the possible updates of the Bankruptcy Act.