CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Clifford Chance has advised Arete on the bank financing of its portfolio in excess of EUR 100 million from a consortium of banks including Ceska Sporitelna and Slovenska Sporitelna.
As early as 25 June 2023, legislation should come into force in the Czech Republic that could give consumers another powerful weapon in the battle against unfair business practices. This legislation introduces the so-called class action lawsuit, which will allow multiple victims, each typically holding small claims, to join together for united representation in court proceedings.
The Corporate Sustainability Reporting Directive (CSRD) took effect on 5 January 2023. This directive amends the Non-Financial Reporting Directive of 2014 (NFRD) and introduces more detailed requirements for non-financial reporting in the area of ESG.
The electronization of healthcare (eHealth) streamlines processes in healthcare and improves the quality and availability of medical care. Some elements of eHealth already existed in Czech law, but the legislation was fragmented. To set the general framework, basic rules, and standards for the functioning of eHealth, a new Act No 325/2021 Coll., on electronization of healthcare (Act) was adopted, with effect from January 1, 2022.
Dunovska & Partners has advised the Aricoma Group on its acquisition of parts of a subsidiary from Sabris CZ. GT Legal and AK Zizlavsky advised Sabris.
In accordance with a contemplated change of the existing EU Temporary Crisis Framework rules stipulating for state aid limits applicable to the whole European Economic Area, the amended Czech Government Regulation sets forth Czech national limits applicable to delivery points in the Czech Republic.
If you need statistical data maintained by the National Health Information System for your work or scientific research, whether demographic data on births or deaths, statistics on cancer patients, information on assisted reproduction or other information, you will be interested in a landmark decision of the Constitutional Court.
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, although a total of ten lawyers worked on three reported Corporate/M&A deals in the Czech Republic over the past 12 months, only one of those ten reported working on more?
Do you sell goods to consumers through ane-shop? Do you feel like you already know everything there is to know about the great consumer amendment from all the different articles? While it's true that plenty has been written about the end of fake reviews and discounts, the legal guarantee or the specific labelling of the "order with obligation to pay" button, this is much more than a "button amendment". What affect will it have, for example, on personalising the price for a particular consumer?
In recent months, we have seen several regulatory initiatives impacting the Czech online business environment. There is a lot to unpack, which is why we have prepared a series of Legal Insights to help you understand what will change in 2023.
The Czech legislature has been recently working on several new laws and amendments, including adopting whistleblowing and energy price cap-related regulations, according to Kocian Solc Balastik Partner Sylvie Sobolova.
Allen & Overy has advised Raiffeisenbank on its EUR 500 million issuance of senior non-preferred sustainable notes under its international debt issuance program. White & Case reportedly advised the managers.
BPV Braun Partners, working with Watson Farley & Williams, has advised the Creditas Group on the acquisition of British energy group InterGen. Herbert Smith Freehills reportedly advised the sellers.
Schoenherr has advised Metro on its acquisition of a 25% stake in Kosik Holding with a 5% option on top if Kosik expands into other CEE markets in collaboration with Metro. White & Case reportedly advised Kosik.
Kocian Solc Balastik has helped the Czech National Theatre obtain a building permit for the redevelopment of its New Stage and Operations buildings.
In its recent decision in re Smusta a.s., the Supreme Court ruled on the possibility to avoid a corporate transformation in insolvency proceedings.
Cytowski & Partners has advised Czech start-up Filuta AI on its USD 2.5 million pre-seed financing with Nation 1, SPM Invest, and Czech Founders VC.
Kocian Solc Balastik has advised the BiQ Group – investment group Intefi Capital’s technology division – on its acquisition of Puxdesign.
PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.
PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.
Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.
PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.
Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).
Firm's website: www.prkpartners.com
