Infringement of competition rules may become significantly more expensive
Effective as of 27 December 2016, there is a new Act in Slovakia on certain rules for the liquidated damages caused by the infringement of competition law.
Lucie Schweizer spoke at 4th International Anti-Money Laundering and Financial Crime Conference
Our partner Lucie Schweizer participated in prestigious 4th International Anti-Money Laundering and Financial Crime Conference, organized by the Banking Association for Central and Eastern Europe and the Institute of Banking Education with National Bank of Slovakia, which took place from 1st to 2nd December 2016 in Bratislava. Lucie took part in roundtable discussion on problematic ultimate beneficial owner definition in connection with KYC processes.
For further information about the conference click HERE
Want To Do Business With The State? Get Ready For a New Register of Public Sector Partners
As part of the Government´s efforts to increase the transparency of public funds spending, the Act No. 315/2016 Coll. on the Register of Public Sector Partners and on the Amendment of Certain Acts was published on 29 November, 2016.
We have co-organized Trend Business Breakfast
Trend Business Breakfast on the new law of criminal liability of legal entities took place at the Hotel Arcadia in Bratislava on 15th of November 2016. The event was organized by economic weekly Trend in cooperation with our law firm and EY as partners. Among the speakers were Lucie Schweizer and Sylvia Szabó, our partners specializing in corporate criminal law.
How can the new act on criminal liability of legal entities influence the commercial life in Slovakia you can read in the articles of both our partners:
Conference Management of receivables 2016
Our partner, JUDr. Šarlota Štosová participated with her lecture on recodification of procedural law in Slovakia in the conference EU Generation Management of receivables 2016. The conference was organized from 9th to 10th of November 2016 in The Radisson SAS Carlton Hotel. More than 20 experts from Slovakia and Czech Republic participated in the conference with their lectures.
We have supported the iKid project
Our team consisting of Eva Nagyová, Michal Hulena, Michal Huťan and Mark Molnár took part in a charity quiz to support the iKid project. It is a nation-wide competitive project aimed at supporting the new generation of young entrepreneurs. It is open to students who are between 10 and 14 years of age and who study at elementary schools or 8-year grammar schools. iKid focuses on implementing business skills into the education process by means of direct experience and supports the Slovak elementary schools in the development of creativity and innovation potential.
“We have had a pleasant and entertaining evening. Moreover, we have supported a good project.” said Michal Hulena.
On the photograph is our team with Kenneth Ryan, the project founder and managing partner at KPMG Slovakia.
Is the law dealing with corporate criminal liability only for "criminals" from among legal entities?
Impact of Act No. 91/2016 Coll. concerning criminal liability of legal entities on business environment is being underestimated. If the topic is interesting at all, most people accept the prevailing opinion that this is just another bureaucratic law that will hardly have any effect, not to say real impact (such as the law on reporting criminal activities, i.e. whistleblowing) and that it will affect only those companies that are involved in criminal activities. This, however, must not be accepted. Namely, the law extends the established procedures and interpretations of terms, such as liability of executive and representative bodies (in Slovak: štatutárne orgány) and other persons, confidentiality obligation, business secret, compensation for damages, etc. Finding a link between criminal activities and consequences affecting commercial law or civil law relationships has been accomplished in the sense of this regulation, at least at the theoretical level (even if not quite consistently). Practical side of the application of this new law is yet to be seen, the scope of its applicability being immense.
Ružička Csekes has been named Law Firm of the Year 2016
For the fourth year in a row, we have succeeded in winning the prestige main award “Law Firm of the Year” awarded to the best national law firm. The competition was organised by the weekly TREND and EPRAVO GROUP. Furthermore, we have been ranked as the winner in the Public Procurement practice area, where we have retained the title since 2013.
In eight other areas we have been ranked as “Highly recommended” – Corporate Law, Competition, Banking & Finance, M&A, Dispute Resolution, Employment Law, Insolvency & Restructuring, Development & Real Estate.
The participants were judged by an independent panel consisting of representatives of buyers of legal services other than law firms and members of the business community. Over a hundred evaluators from the business community were involved in the judging process.
JUDr. Jaroslav Ružička, PhD., Managing Partner: “It is quite complicated to measure the quality and level of production by conventional methods in our profession. The real mirror of our parameters is the level on which we are perceived by the surrounding community. In other words, this award is an exceptionally valuable proof of the finding that we are perceived as a prominent, reliable and trustworthy partner for our clients.”