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.
Clifford Chance has advised Ceska Sporitelna, a.s., on financing provided to Dautphetal-based Roth Industries GmbH & Co. KG., a manufacturer of glass and complete showers, for a leveraged buy-out of 100% interest in Roltechnik a.s., a Czech supplier of shower enclosures, trays, bath tubs, and jacuzzis. Vostarek & Komeiserova advised Roth Industries on the financing.
Dentons has advised Mezzanine Capital on its first two financing transactions: A EUR 12.5 million mezzanine loan to Medicon Group to fund the acquisition of ProNatal Medical Business, and the second a mezzanine loan in connection with the recapitalization of Nolloth S.A. and its subsidiary VUES Brno.
Under the provisions of the Statutory Measure of the Senate No. 340/2013 Coll. on Real Estate Transfer Tax (the "RE Transfer Tax Act"), the transferor is obliged to pay the real estate transfer tax (the "RE Transfer Tax") when ownership title to real estate is acquired by purchase or exchange, unless the transferor and the transferee stipulate otherwise in the purchase or exchange agreement. If the transferor does not fulfil its obligation to pay the RE Transfer Tax, the RE Transfer Tax Act establishes the statutory guarantee consisting in the duty of the transferee to do so.
Weinhold Legal has advised the Polish group ITAKA, the largest travel agency active on the Polish market, on its acquisition of CEDOK, the oldest Czech travel agency, active on the Czech market since 1920. The US-Turkish company Odien was reported to be the seller of CEDOK on the deal. The value of the transaction was not disclosed.