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. Therefore, we have prepared thisupdate of our original client alert of 3 April 2020 on this topic, now revised uponthefinallyadopted law...

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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. on certain extraordinary measures in the area of finance in relation to the spread of dangerous contagious human disease COVID-19 (the “Act”) enacted by the National Council of the Slovak Republic on 13 May 2020. The financial aid measures under so-called “BIG GUARANTEE SCHEME” in the volume of approx...

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SIH Anti-Corona Guarantee
Cechova & Partners, May 2020

Slovak Investment Holding, a.s. (“SIH”) has launched the SIH Anti-Corona Guarantee as a new financial instrument employing European Structural and Investment Funds to help small and medium-sized enterprises (the “SMEs“) in Slovakia to overcome the financial difficulties and liquidity problems caused by the COVID-19 crisis and to help preserve employment and retain jobs...

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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...

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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. It also prolongs time periods for temporary ban on enforcement of pledges and auctions. The bill needs to be signed by the President of the Slovak Republic and shall into come into force once published in the Collection of Laws...

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