Novinky

January 2023 – Governments can interfere with business in a number of ways, most commonly through the regulation of the business environment, which has an effect on the conduct of business. One area that has recently undergone a major legislative change in Slovakia is insolvency law.

Act No. 111/2022 Coll. on Addressing the Likelihood of Insolvency (the “Act on Addressing the Likelihood of Insolvency”) was enacted into Slovak law in March 2022 to transpose the EU Restructuring and Insolvency Directive. The aim of the Directive is to ensure that viable companies and entrepreneurs in financial difficulties have access to effective national preventive restructuring frameworks to enable them to continue to operate and to improve the efficiency of restructuring, bankruptcy and insolvency proceedings, in particular with a view to make such proceedings shorter.

You can read the full article in Slovak at this link.