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Firm: Cechova & Partners

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A New Big Guarantee Scheme for SMEs and Large Enterprises
Cechova & Partners, May 2020

A new BIG GUARANTEE SCHEME was introduced in Slovakia in a form of (i) guarantees for bank loansand (ii) remissions of guarantee premiums as per new Temporary Framework for State aid recently adopted by the European Commission to support the economy in COVID-19 outbreak and via adoption of an amendment (the “Amendment”) to Act No. 67/2020 Coll...

Accession of the Slovak Republic to Double Tax Treaty In Case of Adjustment of Profit of Associated Companies
Cechova & Partners, October 2006

The Ministry of Foreign Affairs of the Slovak Republic announced the adoption of the Treaty on Accession of the Czech Republic, Republic of Estonia, Republic of Cyprus, Republic of Latvia, Republic of Lithuania, Republic of Hungary, Republic of Malta, Republic of Poland, Republic of Slovenia and Slovak Republic to the Double Tax Treaty in case of adjustment of profit of associated companies, dated 23 July 1990 as amended by the Treaty of 21 December 1995 and the

Amendment to Ruling on Provision of Subsides Within Competence of Ministry of Transport, Posts and Telecommunications
Cechova & Partners, October 2006

Pursuant to the Act on Budget Rules for Public Administration, the Ministry of Transport, Posts and Telecommunications of the Slovak Republic, by this Ruling, enlarged the scope of persons entitled to subsidies ensuring higher penetration of broadband internet access...

Amendment to the Commercial Code in the Slovak Republic
Cechova & Partners, May 2002

In: International Business Lawyer Issued by International Bar Association, page 233-235

COVID-19 - Force Majeure Event
Cechova & Partners, March 2020

With the recent outbreak and spread of COVID-19, businesses may experience several problems, such as absences of employees or disruptions in a supply chain required for their manufacturing or deliveries, which negatively impact their performance under a contract. In this alert we address the question whether negative consequences of COVID 19 could be under Slovak law considered as force majeure events, i.e...

COVID-19 Measures in the Healthcare Sector: Update
Cechova & Partners, April 2020

Since the publication of our legal update on COVID-19 Legal Challenges for Pharmaceutical Companies on 31 March 2020, new important measures were adopted or announced on both national and EU level...

COVID-19: Adoption of New Economic Measures - First Aid to Employees, Firms and Self-Employed Entrepreneurs
Cechova & Partners, March 2020

At a press conference today, on 29 March 2020, representatives of the Government of the Slovak Republic presented the first set of economic measures, the purpose of which is so-calledFirst Aid to Employees, Companies and Self-Employed Entrepreneurs...

COVID-19: Contributions to Employers and Self-Employed Persons for Maintenance of Employment (Job Positions) During State of Crisis
Cechova & Partners, April 2020

In our previous legal alert we informed that Act on Employment Services[1]was amended so that allowances to maintain job positions and to maintain employees during the emergency situation, state of emergency and state of distress (the “State of Crisis”) can be provided to a broader group of employers compared to the currently available options under the Act on Employment Services...

COVID-19: Deferrals of Banking Loans “Second Aid” to Citizens, Firms and Self-Employed Entrepreneurs
Cechova & Partners, April 2020

Since the beginning of the SARS-CoV-2 pandemic, the deferrals of loan payments and other payments (such as leasing payments, etc.) have been provided by credit institutions or other financial institutions voluntarily, upon their negotiations with debtors, upon their discretion and within the formal process for approval of deferred payments with a potential future negative effect on the credit score of the debtor...

COVID-19: Expected Amendments to Labour Code
Cechova & Partners, April 2020

The Government of the Slovak Republic approved on 31 March 2020 further draft bills in connection with the COVID-19 pandemic. One of these is also an act amending the Labour Code[1]and other particular laws in the field of employment and social security. You can find a brief summary on this amendment below...

COVID-19: Guarantees for Bank Loans and Loan Interest Bonifications as Financial Aid to SMEs Extraordinary Measures in Financial Market Supervision
Cechova & Partners, April 2020

Guarantees for bank loans and loan interest bonifications were introduced as afinancial aid to small and medium-sized enterprises (“SMEs”) to be provided by the state under Act on certain extraordinary measures in the area of finance in relation to the spread of dangerous contagious human disease COVID-19 that was adopted by the National Council of the Slovak Republic on 2 April 2020 (the “Act”)...

COVID-19: Impossibility of Performance
Cechova & Partners, March 2020

In order to prevent the spread of COVID-19, the Government of the Slovak Republic has adopted several restrictive measures which may, in contractual relationships governed by the Civil Code, cause impossibility of t debtor’s performance.[1]In this alert we focus in more detail on the issue of additional impossibility of performance and subsequent cessation of obligation due to the spread of COVID-19 and adoption of the related preventive measures...

COVID-19: Legal Challenges for Pharmaceutical Companies
Cechova & Partners, March 2020

Pharmaceutical companies are meeting with numerous legal challenges resulting from the ongoing COVID-19 pandemic and the corresponding Government measures. Among the most discussed topics are the legal obligations relating to availability of medicinal products, securing of medicinal products for treatment of patients with COVID-19, control over the distribution channel, clinical trials, and relations with healthcare professionals...

Decree on Forms for Prescription of Drugs and Medical Aids
Cechova & Partners, October 2006

Pursuant to the Act on Drugs, the Ministry of Health of the Slovak Republic has specified in annexes to this Decree details on forms to be used for prescriptions of drugs and medical aids. By this Decree, the Ministry also has set the sample forms of medical prescription, special medical prescription, medical reference, and extract from medical prescription, order and special order...

Decree Stipulating Content of Reports on Asset Management in Supplementary Pension Fund and Equity Management of Supplemantary Pension Company
Cechova & Partners, October 2006

Pursuant to the Act on Supplementary Pension Savings, the National Bank of Slovakia issued this Decree stipulating the requirements for the content of an annual and halfyear report on asset management in supplementary pension fund and annual and half-year report on equity management of supplementary pension company...

Decree Stipulating the Content of Reports on Asset Management in Pension Fund and in Pension Asset Management Company
Cechova & Partners, October 2006

Pursuant to the Act on Old-Age Pension Savings, the National Bank of Slovakia issued this Decree stipulating the requirements for the content of an annual and halfyear report on asset management in a pension fund, and annual and half-year report on equity management in a pension asset management company, as well as the content and structure of daily information about each transaction with pension fund assets...

Deferral of Attachments and Extension of Ban of Enforcement of Pledges and Auctions
Cechova & Partners, April 2020

The Slovak Parliament passed on 22 April 2020 the bill amending Act No. 62/2020 Coll. on certain emergency measures in relation to the spread of dangerous contagious human disease COVID-19 and in the justice, and amendments to certain laws (the “Lex Corona”). The bill of Lex Corona, among others, provides for special rules on deferral of attachments (executions) over properties of natural persons if financially affected by spread of coronavirus...

Deferrals of Repayments of Loans and other Credit Instruments
Cechova & Partners, May 2020

COVID-19 Although the first big wave of requests for repayment deferrals of banking and non-banking loans may seem to be over, a further one is likely just to come once some debtors realise the actual effects of COVID-19 crisis on their economic situation and the pandemic time frame for filing the requests for repayment deferrals will start approaching its end...

Legal Update: Coronavirus - Questions and Measures in Labour Law Matters
Cechova & Partners, March 2020

In connection with the Coronavirus pandemic the Government of the Slovak Republic declared the state of the extraordinary situation in the Slovak Republic with effects from 12 March 2020 at 6.00 a.m. Further, several protective measures have been adopted by governmental organizations and are being updated or extended on a daily basis, including: closure of all educational facilities (including schools, universities, kindergartens etc...

Measure on Submitting Reports by Banks and Branches of Forgien Banks for Statistical Purposes
Cechova & Partners, October 2006

Pursuant to the Act on Banks, the National Bank of Slovakia issued this Measure defining the content, format, terms, form, method, procedure and place of submitting reports to the National Bank of Slovakia for statistical purposes. This Measure has been published in the Bulletin of the National Bank of Slovakia (Issue No...

Measure on Submitting Reports by Factoring Companies, Installment Financing Companies and Leasing Companies for Statistical Purposes
Cechova & Partners, October 2006

Pursuant to the Act on Supervision of Financial Market, the National Bank of Slovakia has issued this Measure, which defines the content, format, terms, form, manner, procedure and place of submitting the reports to the National Bank of Slovakia by factoring companies, instalment financing companies and leasing companies for statistical purposes. This Measure is published in the Bulletin of the National Bank of Slovakia (Issue No...

Measure on Submitting Reports by Pension Asset Management Companies and Supplementary Pension Companies For Statistical Purposes
Cechova & Partners, October 2006

Pursuant to the Act on Supervision of Financial Market, the National Bank of Slovakia has issued this Measure, which defines the content, format, terms, form, method, procedure and place of submitting the reports for statistical purposes by a pension asset management company for the pension asset management company itself and for individual pension funds established and managed by it, and by a supplementary pension company for the supplementary pension company itself and for individual pension f

Measure on Submitting Reports of Allotment Funds by Asset Management Companies for Statistical Purposes
Cechova & Partners, December 2006

Pursuant to the Act on Supervision of Financial Market, the National Bank of Slovakia has issued this Measure, which defines the content, format, terms, form, method, procedure and place of submitting the reports of the allotment funds, which issue allotment fund certificates in the Slovak Republic, by asset management companies and branches of foreign asset management companies for statistical purposes. This Measure is published in the Bulletin of the National Bank of Slovakia (Issue No...

Protection against Bankruptcy for Businesses in Slovakia during Corona Crisis
Cechova & Partners, April 2020

The Government of the Slovak Republic approved on 14 April 2020 the draft bill amending Act No. 62/2020 Coll. on certain emergency measures in relation to the spread of dangerous contagious human disease COVID-19 and in the justice, and amendments to certain laws.The bill was passed by the Slovak Parliament on 22 April 2020 and has been published in the Collection of Laws on 25 April 2020.The below regulation on temporary protection of businesses came into force since 12 May 2020...

Protection of Lessees during the COVID-19 Crisis
Cechova & Partners, April 2020

A draft bill [1] passed preventing lessors of real estate, including flats and non-residential properties, to unilaterally terminate lease due to delay of lessees with payment of rent, including payments for performance usually associated with the lease, which are due during the period between 1 April 2020 and 30 June 2020...

 

 

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