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Blog

Liability of managing directors for damage

Under the Slovak Commercial Code, managing directors are obliged to exercise their powers with professional care and in accordance with the interests of the company and all its shareholders. In particular, they are obliged to obtain and take into account in their decision-making all available information relating to the subject...
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Ban on Notice in Employment Relationships

In case the employer wishes to terminate the employment relationship with the employee by notice, they should be aware of the so-called ban on notice. According to Section 64 of the Slovak Labour Code, the employer may not (with certain exceptions) give notice to the employee during the so-called protected...
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NOTICE OF TERMINATION due to redundancy of employee

According to the Slovak law, an employer may terminate employment by notice only for the reasons explicitly stipulated in the Labour Code. One of the reasons for termination most frequently used by employers is the so-called redundancy of an employee. The concerned reason for termination is stipulated in Section 63...
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Ban on Competition for Managing Directors

According to the Slovak law, managing directors (as statutory bodies of limited liability company) are banned from performing certain activities that have competitive character with respect to the company in which they perform their function of managing director. Unless additional limitations arise from memorandum of association/foundation deed or articles of...
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Managing director in a Slovak LLC

According to the Slovak law, the statutory body of a limited liability company (hereinafter the “company”) consists of one or more managing directors. Managing directors are appointed by the general meeting from among the company’s shareholders or other natural persons, i.e. legal entities may never be appointed as managing directors....
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