The Legal 500

The amendments adopted by the Parliament on July 1, 2011 to the Municipal Cleanliness and Tidiness Act bring revolutionary changes to the Polish waste management system. The Act is currently awaiting signing by the President. Once approved, the changes will become effective 12 months from the date the Act is published.

It is a frequent and widespread misperception that private joint stock company that issued registered documentary shares (listinné akcie na meno) does not need to have any contact at all with the Slovak public authority in the area of securities, Central Securities Depository of the Slovak Republic ("CSD").

The right of squeeze out is the right of a majority shareholder in the joint stock company whose shares have been traded on regulated market to require from all the remaining (minority) shareholders to sell him their shares at a fair price.

On January 1, 2012 the Act No. 387/2011 Coll. amending the Act No. 136/2001 Coll. on Protection of Economic Competition (the „Amendment“), entered into force.

NEW LIABILITY OF DIRECTORS

One of the responses of the Slovak government to the financial and economic crisis is the latest amendment of the Labour Code. Its declared aims is, inter alia, to (i) reduce employers' costs, mainly in relation to the redundancy payments, (ii) introduce more flexible employment relationships (iii) enable more tailor-made solutions for the respective employer and (iv) weaken the position of trade unions by allowing also works councils and works trustees to negotiate and conclude plant-level agreements with the similar content and effect as that of collective agreements; this goes hand in hand with the change of basic concept of these agreements as they are now allowed to introduce also some less advantageous employment conditions than minimums referred to under the law.

The successful financial close of first major PPP project in Slovakia related to construction and operation of R1 expressway should be without any doubt regarded as important milestone in facilitating of partnership between the public and private sector in the Central and Eastern European region. This article briefly outlines legal regulation of PPP in the Slovak Republic and recent developments in Slovak law aiming to provide additional comfort for financing parties interested in partnership with public sector through PPP projects as well as certain outstanding legal issues which investors should take into account when considering their participation in such projects.

Are you considering real estate investment in Slovakia? This article should provide you with a review of risks and fundamentals concerning the acquisition of real estate property in the Slovak Republic.