The tracing of a state construction contractor's hidden ownership prompts Slovakia to create the EU's first public beneficial ownership (BO) register
Slovakia's largest state construction contractor, facing bankruptcy owing EUR 104 million to hundreds of small and medium-sized enterprises, was owned through Costa Rican lawyers and shell companies in New Zealand and Cyprus. The case prompted Slovakia to establish the EU's first public BO register, which later fined the firm and forced disclosure of an oligarch owner.
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