Two Brothers Use California Companies to Liquidate Slovak Businesses with Million-Euro Debts

Two brothers are using companies registered in California to liquidate Slovak businesses carrying significant debts, according to an investigation into corporate practices. The case involves Stavizol – Pozemné stavby, a construction company based in Žilina that employed approximately 40 people and generated nearly 13 million euros in revenue in 2023, though profits remained minimal. The company was previously controlled by entrepreneurs Pavol Hoblík and Miroslav Kopera before its business began shrinking a year later. By the end of last summer, warning signs emerged suggesting the company faced an abrupt closure, highlighting a pattern where foreign-registered entities are being used to wind down Slovak businesses while leaving substantial debts behind. The practice raises questions about corporate responsibility and debt management in Slovakia's business sector.