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Awards & Deals


  • Law Firm of the Year 2017, Slovakia

    HKV named as the “highly recommended law firm” in seven categories of the competition Law Firm of the Year 2017: Corporate Law, Competition, Developer Projects and Real Estate, Mergers and Acquisitions, Banking and Finance, Employement and Public Procurement.

  • Legal 500 2017, Slovakia

    Legal 500 guide for the year 2017 identified HKV in five ranking categories: Banking, Finance & Capital Markets; Commercial, Corporate and M&A; Employement; Projects and Energy and Real Estate and Construction.

  • IFLR 1000 2017, Slovakia

    “They have deep knowledge in all areas, provide quick reactions and deliveries and have done a good job recently,” says a client who worked with the firm on project finance.

  • Chambers Europe 2017, Slovakia

    HKV ranked by the Chambers Europe 2017 in the categories Banking & Finance, Corporate/M&A, Employment, Energy, Real Estate and Restructuring/Insolvency.

  • Chambers Europe 2017, Slovakia

    Peter Víglaský is admired by clients and highlighted for his "excellent knowledge of the international environment."

  • Chambers Europe 2017, Slovakia

    Well known as a practitioner who "makes deals happen," Roman Hamalais appreciated by his clients, who say: "He can anticipate future problems and avoid them or provide solutions before we ask."

  • Chambers Europe 2017, Slovakia

    Martin Kluch impresses clients with his "pro-deal" attitude. He is described as "technically very good, very pragmatic and personable. We get clear answers from him. He provides business-oriented advice."

  • IFLR 1000 2017, Slovakia

    The IFLR1000 guide ranked HKV in the categories Energy and Infrastructure and Financial and Corporate for the year 2017.

  • IFLR 1000 2017, Slovakia

    „The approach that we have experienced was client friendly, pro-active and practical,” says a client from the energy industry.


News



Changes to the Anti-money Laundering Legislation


There is an initiative to introduce several changes to the anti-money laundering legislation (with proposed effectiveness as of March 1, 2018), by virtue of which customer due diligence requirements are to be modified.

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The Parliament has been debating the Government proposal seeking to transpose the fourth AML Directive (EU) 2015/849 of the European Parliament and of the Council of May 20, 2015. The vast majority of amendments that are proposed to be effective as of March 1, 2018 concern Act No. 297/2008 Coll. on Protection against Laundering the Proceeds of Criminal Activities and on Protection against Terrorist Financing and on the Amendment and Supplement of Certain Acts, as amended. The amendments of other affected acts are proposed to become effective as of July 1, 2018.

The proposal calls for minimum actions that “obliged persons” (such as banks, financial institutions, auditors, accountants and a number of other persons) should take within simplified customer due diligence. Under general customer due diligence, obliged persons would be required to examine the beneficial owners of the client and whether or not the client or beneficial owner is an internationally sanctioned person or politically exposed person. In business relationships with a politically exposed person, the obliged person would be required to conduct enhanced customer due diligence. The proposal also includes the recommendation that the definition of politically exposed person be significantly extended.

Due to the risks associated with cash payments, it is proposed that the limit required for a legal entity or a natural person – entrepreneur trading in cash to be classified as an obliged person be reduced from the current EUR 15,000 to EUR 10,000.

It is also proposed that the concerned persons be required to identify their beneficial owners, maintain (updated) their identification data (if they are not recorded in the Register of Public Sector Partners) and store them for a certain period of time.

Last but not least, with proposed effectiveness as of July 1, 2018, certain legal entities registered in the Commercial Register would also be required to register identification data about their beneficial owners. If the law is adopted, the legal entities concerned and registered in the Commercial Register before June 30, 2018 will be obliged to register data concerning their beneficial owners by December 31, 2019.

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Amendment to Agricultural Land Lease Act


The Slovak Parliament approved an amendment to Act No. 504/2003 Coll., on Agricultural Land Lease, Agricultural Holdings and Forest Land, as amended. The amendment introduces a relatively large number of changes in provisions concerning the lease of agricultural land for business purposes.
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The amendment is currently awaiting the President´s signature and the vast majority of changes should come into force on May 1, 2018. The amendment removes the automatic renewal of lease agreements (currently in force in cases where one year before the expiry of a lease agreement neither the lessee nor lessor invites the other party in writing to  return/take over the leased land after expiry).  There will also be changes in provisions concerning the right to a pre-emptive lease. This right will only be preserved for lessees who use the land and will not apply to cases in which the ownership of leased land has been transferred to another person. In the event of a breach of the pre-emptive right, the lease agreement entered into by the lessor and a third person will be invalid.  The Act will also apply to the type of land registered in the cadastral register as “Built-up Areas and Courtyards”, but only if it serves for agricultural purposes. The amendment also sets forth a minimum rent for such type of land. The maximum lease period is to be shortened from 25 years to 15 years.  Last but not least, for the purposes of arranging lease relations between co-owners and the user of land, only the approval of the majority of co-owners will be required.

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