Even if your main focus is on developing your business and you think that the keys to HR are solid wages and an interesting benefits package, there are still some important issues in Czech employment law you should be aware of.
Recent Trends in Migration and Corporate Law in Czechia Reflecting the Russian War Against Ukraine
Russia’s military aggression in Ukraine and the subsequent wave of refugees has been a new challenge for all European countries – and the Czech Republic is no different. A very low unemployment rate and a shortage of workers is a long-standing problem in Czechia and, thus, this new situation brings not only challenges but also opportunities. There have been more job openings than workers in the Czech economy since 2018 and, in 2021, the Labour Office recorded about 350,000 job openings. This situation slowed growth in the Czech economy and, thus, accepting Ukrainian refugees happens to be not only a moral obligation but also in the country’s best interest and an opportunity for future growth.
Old But New: Bracing for Updated VBER and Vertical Guidelines
On May 10, 2022, the European Commission adopted the new Vertical Block Exemption Regulation (VBER) accompanied by the new Vertical Guidelines (Guidelines), which entered into force on June 1, 2022. We spoke with several Czech competition experts to understand how these updates will influence the day-to-day business activities in the vertical agreements area.
The Low-Key Priority: Life Sciences R&D in the Czech Republic
Life Sciences R&D has consistently been touted as one of the Czech government’s top priorities – and the markets and investors have not been indifferent. We reached out to several experts to check up on the overall health of life sciences R&D in the Czech Republic and learn how that priority translates into practice.
Round Six: The European Union Ban on Russian Energy Imports
The sixth package of European Union sanctions imposed on Russia is a widely discussed topic, yet the overall levels of preparedness to adopt the associated energy import ban varies from one country to another. Indeed, with Russian oil and gas exports being such a dominant source of energy for a number of European countries, it remains to be seen how all of them adapt to the change. To gain insight into how certain EU member states and non-EU countries are (likely) to fare in the immediate wake of the ban, we reached out to legal professionals from Turkey, Poland, Bulgaria, the Czech Republic, and Moldova.
Czech Republic: ECJ Closes State Compensation Gateway for Solar Power Plant Operators
Although the intensity of solar radiation in the Czech Republic is not particularly significant, the state has extensively subsidized the construction of solar power plants in order to meet its commitments to the European Union regarding the financing of renewable energy sources. In 2009 and 2010, the Czech Republic experienced a solar boom when solar power plants were built on a large scale. Financial support for solar power plants, however, has undergone radical changes since then.
W&I Insurance On The Rise in CEE: An Interview with Gergely Juhasz of RFB Consulting
Last year has been a busy time in terms of warranty & indemnity insurance for the CEE market, according to W&I Insurance Broker and Advisor and former M&A lawyer Gergely Juhasz.
KSB Advises Heureka Group on Balikobot Acquisition
Kocian Solc Balastik has advised Heureka Group on its acquisition of Balikobot. Solo practitioner Martin Buchta reportedly advised the seller.
PwC Legal and Forlex Advise on Sale of Forez to BR Group
PwC Legal Czech Republic has advised the Forez shareholders on their sale of the company to the BR Group. Forlex advised the buyer.
Havel & Partners and Dentons Advise on ZFP Investments' Acquisition of Blumental Offices Project from Corwin
Havel & Partners has advised ZFP Investments on its acquisition of the Blumental Offices project from Corwin. Dentons advised the seller.
Reff & Associates and Tuca Zbarcea & Asociatii Advise on Bank of Cyprus NPL Portfolio Sale to APS
Deloitte Legal affiliated firm Reff & Associates has advised Bank of Cyprus on the sale of a portfolio of non-performing loans and repossessed properties in Romania with a face value of EUR 147 million to an entity part of the APS group. Tuca Zbarcea & Asociatii advised the buyer.
Allen & Overy Advises on Introduction of Bondholder Tax Certification Procedures in Czech Republic
Allen & Overy, in partnership with Clearstream and Euroclear, has advised on the drafting and implementation of bondholder tax certification procedures in the Czech Republic.
Dentons Advises Ceska Sporitelna on Zeitgeist’s Residential Real Estate Portfolio Refinancing
Dentons has advised Ceska Sporitelna on its EUR 113 million refinancing of Zeitgeist Asset Management’s residential real estate portfolio. BNT Attorneys reportedly advised Zeitgeist.
Kinstellar Advises Helaba on Crestyl Financing
Kinstellar has advised Helaba on the financing provided to Czech developer Crestyl for the revitalization of the NR7 building in Prague.
KSB Advises J&T IB Capital Markets on Bond Issuance by J&T Energy Financing CZK
Kocian Solc Balastik has advised arranger J&T IB Capital Markets on the issuance of unsecured unsubordinated book-entry bonds by J&T Energy Financing CZK, with a total value of EUR 750 million and an option to increase to EUR 2.25 billion.
JSK Advises CVI on Investment in Saunia
JSK has advised Credit Value Investments on its investment in the Saunia Group through a bond financing. BDO Legal reportedly advised Saunia.
Running the Gauntlet in the Czech Republic: A Buzz Interview with Robert Nespurek of Havel & Partners
Potential political switch-up, construction legislation changes, and economic ups and downs are the talk of the town in the Czech Republic, according to Havel & Partners Partner Robert Nespurek.
Havel & Partners and Kocian Solc Balastik Advise on European Housing Services' Investment in M&M Reality
Havel & Partners has advised European Housing Services on its investment in M&M Reality. Kocian Solc Balastik advised PM Family Estates as the sellers.