CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Cytowski & Partners and Svoboda Koubkova have advised UltimateSuite on its sale to Service Now. Kinstellar, working with Covington & Burling, advised Service Now.
KSB has advised J&T Banka on the refinancing of the Fidurock Group, with the value of the financing obtained potentially reaching up to CZK 1 billion.
Squire Patton Boggs and 42Law have advised Inven Capital on co-leading the EUR 8.5 million series A investment round of Hydrogrid, alongside Karma Ventures. Cobalt advised Karma Ventures. Herbst Kinsky advised Hydrogrid.
Glatzova & Co has advised early-stage fund Reflex Capital on its investment in Digitoo.
There are imminent changes in the Czech Republic's legal and economic landscape – including a significant overhaul of the tax system, pending legal updates on class actions and the use of experts in court, and evolving trends in litigation financing and business solvency – all of which directly impact the work of lawyers, according to Weinhold Legal Associate Partner Zbysek Kordac.
Allen & Overy has advised companies from the Dr. Max group on their first retail bond issuance on the Czech capital market, with a total nominal value of CZK 5 million. The Evan law firm reportedly advised the issuing group as well. White & Case reportedly advised managers Komercni Banka, UniCredit, CSOB, Ceska Sporitelna, and J&T.
Clifford Chance has advised Czech developer Finep on its sale of 220 new residential units – part of the Harfa project's expansion – to Dostupne Bydleni Ceske Sporitelny. Wilsons reportedly advised the buyer.
PRK Partners Co-Head of Corporate and M&A Milan Sivy talks about the evolution of the practice and their role as legal advisors in the Czech Republic over the last 10 years.
Greenberg Traurig has advised Abris Capital Partners on the sale of paper hygiene product manufacturer Velvet Care to the Partners Group. Gessel advised the Velvet Care management. Clifford Chance, working with Latham & Watkins, advised the Partners Group.
KSB has advised the Seyfor Group on its acquisition of the KS-Program software company.
Squire Patton Boggs has advised the CEZ Group on its long-term access agreement to an LNG regasification terminal to be constructed and operated by the Hanseatic Energy Hub in Stade, Germany. Dentons reportedly advised HEH.
Reals has advised Vienna and Warsaw-listed commercial real estate group Immofinanz on its acquisition of 22 retail properties in the Czech Republic from the CPI Property Group. Rybar Soppe & Partneri reportedly advised CPI.
In June 2023, the Czech Republic adopted the Whistleblower Protection Act implementing the relevant EU Directive with a two-year delay. The law came into force on 1 August 2023.
With CMS’s recently published European M&A Outlook report taking the temperature of the M&A activity across the continent, CMS Romania Managing Partner Horea Popescu and CMS Vienna Partner Alexander Rakosi share their insights on M&A trends in the CEE region.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Shifting our focus to the financial aspects of legal work, we asked: What percentage of your issued bills end up being overdue, what percentage end up never paid, and what is your firm’s/office’s standard methodology to handle both cases?
In our Looking In series, we talk to Partners from outside CEE who are keeping an eye on the region (and often pop up in our deal lists) to learn how they perceive CEE markets and their evolution. For this issue, we sat down with Reed Smith Partner Kevin-Paul Deveau.
On September 12, 2023, the Czech Parliament adopted an amendment to the Labor Code, which will become effective already from October 1, 2023 (unfortunately, employers will have very limited time to prepare for the new regulation). The main purpose of the amendment is to implement the European directives on the work-life balance of parents and carers (No. 2019/1158) and on transparent and predictable working conditions (No. 2019/1152) which were to be implemented by member states in August 2022. But there are further changes that should address problems in the daily operation of employers.
Dentons has appointed Ladislav Smejkal and Jiri Strzinek as Co-Managing Partners responsible for managing the Prague office and leading the firm’s strategy for the Czech market.
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
