The Slovakian Parliament has pasted a new law that stipulates that any firm employing more than 500 employees which is important for the security of the state, protection of public health or operates in so-called network industries can be defined as strategic. If such an enterprise enters bankruptcy the state will have the pre-emptive right to take over the company and later pick a new owner. This can been seen to be a very significant incursion into the protection of property (always a difficult issue for former east block countries), and an undermining of private sector focused insolvency and bankruptcy procedure.
The Slovak Spectator – State takeover law approved; critics remain unconvinced