The Wise 3 law firm — consisting of 20 fee-earners, led by four founding partners coming together from three other firms — has opened its doors for business in Bratislava.
Over the course of our seven years, CEE Legal Matters has interviewed most of the British lawyers working on the ground in Central and Eastern Europe as part of our recurring “Expat on the Market” feature. We reached out to them recently and asked them to bring us up to speed on what they’re doing and/or share their thoughts on the ramifications of Brexit or the ongoing COVID-19 crisis.
According to Kinstellar Bratislava Partner Viliam Mysicka, the Covid pandemic has posed a significant challenge for Slovakia's government. “The government was formed just before the March 2020 lockdown happened, and the majority of the ministers are new,” he says. “They have more experience as CEOs than as politicians.”
Although in use long before, on January 1, 2018, a new type of equity funds – “capital funds from contributions” – were expressly recognized and regulated by the Slovak Commercial Code. These funds are considered a supplement to contributions to a company’s registered capital and may be created by all capital company forms in Slovakia, including joint stock and limited liability companies.
The Slovak Competition Act (No. 136/2001 Coll. as amended) has been the cornerstone of Slovak competition law for almost two decades and has seen its share of major amendments. The Slovak Competition Authority has now decided to table a new Competition Act and has submitted a draft for preliminary consultation. The draft transposes the ECN+ Directive (Directive (EU) 2019/1) and addresses a number of competition law issues that have been debated for years in Slovakia.
While the COVID-19 pandemic has caused disruption to nearly all businesses in the logistics and manufacturing sectors in Central and Eastern Europe, enough time has now lapsed that identifiable trends and opportunities are beginning to emerge. CMS Partners Ana-Marija Skoko, Ivan Gazdic, Iain Batty, and Lukas Hejduk agreed to share their thoughts about the effect of the COVID-19 crisis on logistics and manufacturing developments in their local markets and across CEE.
If a company has fulfilled its purpose, its further existence is unprofitable, or if there are other justifying reasons, it is usually best to dissolve such a company and have it deregistered from the commercial register. Where the company has no legal successors to which its assets could be transferred, it must, however, first go into liquidation.