Recent Amendments To The Slovak Commercial Code

February 2018 - The Slovak Commercial Code has recently been amended, with the new measures put into effect gradually in November 2017 and January 2018.  The aim of the amendment is, among others, to stop certain fraudulent practices (identified by the public authorities in the past) related to liquidations, reorganisations and bankruptcy of businesses, to increase the protection of creditors and to tighten the rules on the liability of directors and shareholders. On the other hand, these new measures may complicate mergers (and similar reorganisations) for businesses in general, and they introduce certain new obligations that the directors and shareholders of Slovak businesses should be aware of.