In “The Buzz” we interview experts on the legal industry living and working in Central and Eastern Europe to find out what’s happening in the region and what legislative/professional/cultural trends and developments they’re following closely. Because the interviews are carried out and published on the CEE Legal Matters website on a rolling basis, we’ve marked the dates on which the interviews were originally published.
Schoenherr Prague has advised Aiga Eastern Europe Investments S.a r.l. ("AIGA") on the sale of Wratislaw Palace, a historical heritage property in Prague, to TTP invest, uzavreny investicni fond, a.s. ("TTP invest"). The financial terms of the transaction were not disclosed. Liska & Sobolova advised the buyers on the deal.
White & Case has announced the promotion of 40 lawyers around the world to its partnership. The promotions, which are effective January 1, 2017, represent 11 of the firm's global practices in 17 locations. Including in those 40 world-wide promotions are Czech Banking lawyer Jan Linda and Polish Disputes specialist Michal Subocz.
Kocian Solc Balastik has advised Emerging Europe Properties Fund on the share-sale of WOTEG GWG-Group, owner of the Centro-Ostrava shopping park, to FOCUS Estate Fund — a newly incorporated fund based in Cyprus. The Rutland Jezek Law Office advised the buyers on the deal. The purchase price was not disclosed.
After the first wave of domain registrations that accompanied the technology boom in the Czech Republic at the beginning of the millennium, the number of speculative domain registrations have recently increased again. According to statistical data, these speculative activities – which take the form of both cyber-squatting and typo-squatting – have increased by dozens of percent in the past years.
Kinstellar, working with Milbank, has successfully advised Credit Suisse International, Jefferies, UBS, Bank of America and Societe Generale as joint lead arrangers and joint book-runners for the senior secured credit facilities in connection with Avast Software’s USD 1.4 billion acquisition of AVG Technologies. White & Case advised Avast on the debt financing and the underlying acquisition. Orrick advised AVG Technologies on the acquisition, which was structured as an all-cash tender offer for the outstanding ordinary shares of AVG, with the initial offer period closing on September 30.
Kocian Solc Balastik has obtained a successful result for the Preol biofuel company in invalid immediate employment termination case before the Czech Supreme Court.
Schoenherr is reporting that, on September 30, 2016, Michael Lagler was elected as the new Managing Partner at the firm, where he will take over from Christoph Lindinger, who has led the Central and Eastern European law firm for the past 16 years. Lagler's term will begin at the start of the firm’s next fiscal year, on February 1, 2017.
Slaughter and May has advised GE Capital International Holdings Limited (GECIHL) on its sale of approximately 24.5% of the share capital of Moneta Money Bank, a.s., which raised gross proceeds of approximately CZK 9.4 billion. Weil, Gotshal & Manges advised GECIHL on Czech matters, and Linklaters advised joint global bookrunners Citi, Goldman, and JP Morgan.
CMS has advised Komercni Banka, a subsidiary of the Societe Generale Group, on the agreement it recently completed with Worldline — a European payment and transactional services provider — to develop product and services for Czech and Slovakian merchants. Baker & McKenzie advised Worldline on the deal.
Kocian Solc Balastik is reporting that, at the International Bar Association conference in Washington, firm Founding Partner Martin Solc has been elected President of the IBA — making him the first Central European ever elected to the global organization’s highest post. His new role will take effect on January 1, 2017.