Sun, Nov 22 2009

Slovakia: New law to allow state takeover of large firms

Mon, Nov 02 2009 15:19 CET byBeata Balogová - The Slovak Spectator 664 Views
The government is planning a new law to allow it to take over struggling Slovak companies it deems ‘strategic’. Businesspeople, lawyers and observers say the measure is a Trojan horse that the state could use to take control of major enterprises.

The philosophy behind the new law, which has already sent shockwaves around the business community, is that if a company gets into financial trouble and is deemed ‘strategic’, then the state will have a pre-emptive right to take over until it picks a new owner for the enterprise. Major energy companies, refineries, heating and water supply enterprises all face the prospect of being classified as strategic enterprises.

Read more at The Slovak Spectator 



 

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