On August 21, 2024, the Regional Court in Bratislava upheld the decision of the Municipal Court Bratislava III from February 13, 2024, to suspend the proceedings for the dissolution and liquidation of NOVIS initiated by the National Bank of Slovakia (NBS). The decision of the Regional Court was published in the electronic file on October 2, 2024.

The proceedings for the dissolution and liquidation are therefore suspended until a decision is issued on NOVIS’s administrative lawsuit against the NBS’s decision to revoke its license, which is currently being reviewed by the Administrative Court in Bratislava. If the Administrative Court rules in favor of NOVIS, the dissolution and liquidation proceedings will become irrelevant.

As a result, NOVIS has not been dissolved, nor has the liquidation process commenced..

In its decision, the Regional Court disagreed with the main arguments presented by NBS in its appeal against the decision of the Municipal Court Bratislava III. On the contrary, the Regional Court upheld the lower court’s position and also granted NOVIS the right to full reimbursement of the costs of the appeal proceedings.

NOVIS considers this decision to be a significant step in the legal dispute challenging the NBS’s decision to revoke its license.

In its decision, the Regional Court confirmed that the suspension of the dissolution and liquidation proceedings would not have been possible if NOVIS’s lawsuit had been unfounded.

NOVIS remains operational and continues to provide insurance services to its existing clients.