The amendment to the Slovakian Commercial Code introduces the concept of a “company in crisis”. It will be effective from 1st January 2016. A company is regarded ‘in crisis’ if it is:
- Bankrupt; or
- The share of its equity and accountabilities is less than the statutory limit which will be defined as follows: the ratio will be 4:100 in 2016; a ratio of 6:100 in 2017; and a ratio of 8:100 is to be applied from 2018.