Brussels, 02/07/2013 (Agence Europe) - On 2 July, the European Commission opened an in-depth investigation to verify whether the non-payment of social security contributions and other liabilities due to the Slovak state during the bankruptcy proceedings of Slovakian chemical company NCHZ was in line with EU state aid rules. In November 2009, Slovakia adopted a law requiring trustees to ensure the continued operation of strategic companies during bankruptcy proceedings. In December 2009, NCHZ was proclaimed by the Government to be a strategic company. The law expired in December 2010 and NCHZ is the only company to which it ever applied. During the bankruptcy proceedings NCHZ did not pay social security contributions for its employees or other liabilities towards various state entities. The company was kept afloat for two years after the bankruptcy proceedings, officially upon request from its creditors. Moreover, the Commission has doubts as to whether the NCHZ assets were sold at the market rate, which would ensure a maximisation of revenues to satisfy the company's creditors, including the state. An analysis of the sale indicates that the business was sold as a going concern, including the potential advantages that NHCZ received from the state. As a consequence, if the Commission finds that NCHZ received unlawful state aid, the new owner of the business, Czech company Via Chem, may be required to pay it back. (FG/transl.fl)