Central and Eastern Europe (CEE)

Elena Papachristou and Maria-Roxani Karydi of Papapolitis & Papapolitis say increased activity can be expected in the Greek capital market as certain companies consider how to address new free float requirements, among other regulatory changes

Razvan Stoicescu, Musat & Asociatii

Stefanos Charaktiniotis, Danai Falkonaki, and Stathis Orfanoudakis, Zepos & Yannopoulos

Ožbej Merc, Nastja Merlak, and Sara Makovec, Jadek & Pensa

Illya Tkachuk, Vasyl Yurmanovych, and Inna Kostrytska, Integrites

Kely Pesketzi of PwC Legal Greece reports on Greece’s economic rebound and the solidifying of its banking and finance systems through new legal provisions and tools

As Greece continues its recovery from the sovereign debt crisis, Konstantinos Rachianiotis and Vassilis Stergiou of PotamitisVekris report a heavy restructuring workload after substantial changes to the insolvency framework

Razvan Stoicescu, Musat & Asociatii

Ožbej Merc, Nastja Merlak and Ana Bokalič, Jadek & Pensa

Stefanos Charaktiniotis and Stathis Orfanoudakis, Zepos & Yannopoulos

Ožbej Merc, Nastja Merlak and Ana Gradišar Lužar, Jadek & Pensa

Christos Paraskevopoulos, Maria Chronaki, Georgia Vathi, and Stavroula Simitzi of Karatzas & Partners from Greece explain why young lawyers are increasingly motivated to work on projects that bear a socioeconomic significance

Wojciech Barański, DeBenedetti Majewski Szcześniak

Alexandra Gerasimova, Angelina Balakina and Anna Aktanaeva, FBK Legal

Daniel Grigel and Dalimir Jancovic of Credis Law discuss changes to the regulations which will impact landlord and tenants of agricultural land in the Slovak Republic

Daniel Grigel of Credis Law explores the implications of the CFC tax rules being altered to include individuals

Daniel Grigel and Zuzana Steklacova of Credis Law explain how Slovakian authorities have defined and created distinctions for work completed outside the office

Ožbej Merc, Nastja Merlak and Žiga Urankar, Jadek & Pensa

A closer look at the CFCs new rules for companies with a registered office abroad

Futej & Partners lawyers outline the Slovak Republic's new code and what it means for foreign nationals looking to do business there

Another set of measures came into force in Slovakia on May 12 to protect business operators from the fallout caused by Covid-19. These measures implement interim bankruptcy protections for business operators. These measures are temporary and as it stands, will expire on October 1 2020, with an option for the government to extend them through December 31 2020.

Uroš Čop of Miro Senica overviews the regulatory environment for fintechs in Slovenia, a jurisdiction that has been touted as a European fintech hub

An amendment to the Commercial Code, introducing several important changes concerning the liquidation of companies, will come into force on October 1 2020. The amendment seeks to improve transparency in the business environment by taking aim at tax fraud as well as the deceptive practices associated with company liquidations.

Akin Gump lawyers who worked with the creditors’ committee reveal how the unprecedented corporate restructuring came together

Act No 154/2019 amending the Commercial Code, which came into force on July 1 2019, introduced new rules for remunerating members of the bodies of publicly-listed companies and for significant business transactions with related persons. The changes are intended to bolster the standing of shareholders.

The lawyers who worked on this high profile case involving allegations of auction-rigging explain what others need to know

A long-standing burden on the courts in the Slovak Republic is the large number of old enforcement proceedings. Old enforcement proceedings are referred proceedings that commenced before April 1 2017, when a large amendment of the Code of Enforcement Procedure entered into force. While the new rules from this date give bailiffs strict limits for the new enforcement proceedings – two-and-a-half years for debtors who are legal entities and five years for debtors who are natural persons – no such limits existed for the old enforcement proceedings. This fact, plus the fact that old enforcement procedures could not be terminated for insolvency of a debtor without the creditor's consent, explains why there are still 2.6 million old enforcement procedures in the courts. These old enforcement procedures formally continue even though the debtor is, in most cases, insolvent and no assets are being recovered from them. If these cases continue to be completed at their present rate without state intervention, the old enforcement procedures would remain in the legal system for another 12+ years. To end this unsustainable situation, the government proposed an act on the termination of the certain enforcement procedures (Act) aimed specifically at the old enforcement proceedings, which will enter force on January 1 2020.

The special act requiring entities that do business with the government to register in a special register of public sector partners (the register) – and to disclose their beneficial owners – has been in force in Slovakia for almost two and a half years. It is known informally as the anti-shell company act. This act was so innovative that it was only a matter of time before the sponsor of the act – the government of the Slovak Republic – would prepare a substantial amendment. Such an amendment was passed on June 27 2019.

The transfer of agricultural land in Slovakia was long subject to special restrictions. The Act on Acquisition of Ownership of Agricultural Land of 2014 provided for a special procedure for the transfer of title to agricultural land.

Increased pay supplements have been introduced for night work, weekends, and holidays. The increase was split into two phases, with the first increase implemented as of May 1 2018 and the second increase slated to come into force on May 1 2019. The existing 30% supplement for night work for non-hazardous occupations will increase to 40%, and the existing 35% pay supplement for hazardous occupations will go up to 50%. The supplement for work on Saturdays will go up from 25% to 50%, and up from 50% to 100% for work on Sundays. Calculation of all the supplements is based on the existing minimum hourly wage, which on January 1 2019 was raised from €2.759 ($3.10) to €2.989. The supplement for work on holidays will increase from the existing rate of 50% of the employee's average hourly wage to 100% of the employee's average hourly wage.

Mihail Vishanin and Yordan Naydenov, Boyanov & Co

Amended money-laundering legislation that came into force in the Slovak Republic on November 1 2018 requires companies to register their beneficial owners in the commercial register. Previously, only companies which conducted business with the state or received public funds were required to report their beneficial owners; those beneficial owners were registered in a public register of public sector partners, a register that is separate from the commercial register. The new legislation requires all companies in Slovakia, with the exception of publicly listed companies, to register their beneficial owners in the commercial register.

Marcin Olechowski and Wojciech Iwański of Sołtysiński Kawecki & Szlęzak dive into the legal uncertainty surrounding the launch date for open banking in Poland

Anna Biala, Peter Chapman, Jack Hardman and Jennifer Mbaluto from Clifford Chance’s global fintech group take a bird’s eye view of fintech developments across EMEA and how regulators are responding

Occupational accidents can occur for many reasons. They can arise because of short-term inattention, lack of caution or even inconsistency. It is important to take the strongest possible measures to minimise the risk of occupational accidents. Legal regulations governing the duties of employers in the field of health and safety at work state directly that sometimes it is not possible to fully eliminate the risk of occupational accidents. However, it is important to take all possible steps to limit them and to prepare measures to eliminate them.

In just a matter of minutes, anyone can use the internet to download or stream copyrighted content for free. Unfortunately, most of that content is posted and distributed without the consent of the author – the exclusive holder of the rights to the work. In other words, it is illegal. The practice of accessing copyright-protected work in just a few minutes, without paying for it, is very widespread.