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Legal market overview
Slovakia’s economy continued to struggle in 2012, with banks being reluctant to lend and capital markets activity scarce for all but the top few firms. In addition, the projects landscape was significantly affected by the coalition government’s collapse in April 2012. The political uncertainty also led to a drying up in the M&A market until the new government took shape.
However, the booming insolvency market and a marked increase in debt restructuring has kept many law firms busy, and there was also an uptick in real estate financing, particularly on the structured finance side. Firms also noted a shift towards sophisticated work such as dividend recapitalisation facilities, export financings and structured factoring facilities, as well as positive indicators in real estate development, particularly in the retail, office and industrial sectors, although most activity was led by distressed entities.
The legal market comprises a mixture of established domestic entities such as Cechova & Partners and CHSH Siska & Partners S. R. O. Cerha Hempel Spiegelfeld Hlawati; foreign firms such as Allen & Overy Bratislava, s.r.o., Ruzicka Csekes s.r.o. in association with members of CMS in Bratislava, and White & Case; and new entities such as B&S Legal s.r.o., Hillbridges and Zárecký Zeman Durišová Law Office. All of the aforementioned have excellent reputations.