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46 New Articles

Kocian Solc Balastik has advised Energo-Pro on matters of Czech law related to its December 8, 2017, EUR 370 million debut Eurobond issue in London. Energo-Pro was advised as to English law by lead counsel Herbert Smith Freehills, as to Bulgarian law by Tsvetkova Bebov Komarevski, and to Georgian law by the BLC Law Office. The Joint Bookrunners (Citigroup Global Markets Limited and J.P. Morgan Securities plc) and Joint Lead Managers (Citigroup and J.P. Morgan, as well as Banca IMI S.p.A, Komercni banka, a.s., and UniCredit Bank AG), and Trustee (Citibank, N.A London Branch) were advised by Allen & Overy on Czech and English law and by Spasov & Bratanov on matters of Bulgarian law.

Kocian Solc Balastik has advised the Agrofert Group on the October 31, 2017 acquisition by group member DEZA a.s. of Polish chemical company Petrochemia-Blachownia S. A. from BorsodChem Zrt after two years of negotiations. Szecskay Attorneys at Law advised DEZA on Hungarian matters, Wardynski & Partners advised on Polish matters, and Bouchon & Partner advised on German matters. Baker McKenzie advised BorsodChem Zrt. 

As you would expect, the Czech Labour Code permits an employer unilaterally to dismiss an employee who breaches his or her work duties. But when? The Czech Supreme Court has recently ruled that even a minor breach can suffice. 

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

The Czech Parliament recently passed a bill amending the country’s Pharmaceutical Act to restrict the exportation of pharmaceuticals from the Czech market that has, in the past, resulted in a shortage of some medicinal products within the country. The Czech pharmaceutical market is thus facing a substantial change once the amendment becomes effective on December 1, 2017.

Czech lawyers, not known for ebullience, are nonetheless finding it hard to keep the smiles off their faces. After a decade of disappointment and struggle, if the Managing Partners at Czech firms are to be believed, the last remnants of the global financial crisis have dissipated and business is booming. As spring rolls through Central Europe, the sunshine is both meteorological and metaphoric. Prague is basking in the warmth.

A friend of mine, who’s a partner in a Hungarian law firm, told me this week that those of us living in the Czech Republic are “lucky to have a domestic economy.” In making this comment, he was contrasting the Czech situation with Hungary’s relatively high dependence on foreign direct investment (FDI) and to a degree of stagnation affecting his country at the moment. 

The Corporations Act provides that the venue, date and time of a general meeting must be set in such a manner that shareholders’ rights to attend (and vote) are not unreasonably limited. Would this statutory requirement be met if the general meeting were held in a foreign country? If so, under what circumstances?

The 2017 CEE Legal Matters General Summit took place at the Intercontinental Hotel in Warsaw on June 1-2, 2017, once again bringing together well over a hundred General Counsel and Heads of Legal from across Central and Eastern Europe for two full days (and one entertaining evening) of seminars, panel discussions, best practices review, and networking. This year’s event — the third annual, following the 2015 GC Summit in Budapest and the 2016 GC Summit in Istanbul — was the biggest and most successful yet.

On May 31 and June 1, 2017, CEE Legal Matters was proud to host a rare event: A gathering of those senior lawyers from each Central and Eastern European country identified by peers as being most influential, most important, most uniquely responsible for having created the country’s modern commercial legal market.

KSB has acted for the Energo-Pro group on its acquisition of 100% of the shares in Murat Nehri (a Turkish company currently developing the 280 MW Alpaslan II Hydroelectric Power Plant on the Murat river in Mus province in South-Eastern Turkey) from Enerjisa Enerji Uretim — a 50-50 joint venture of the Turkish Sabanci Group and German E.ON. The Gurel Yoruker firm advised the sellers on the deal, which closed on April 28, 2017. Financial terms were not disclosed.

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Kocian Solc Balastik at a Glance

Kocian Solc Balastik (KSB) is one of the largest and most respected law firms in the Czech Republic. The firm was founded in 1990 and has almost seventy legal and tax advisers based in Prague, Ostrava and Karlovy Vary. It is KSB’s deep knowledge of the law, together with its strong industry focus, that sets it apart from its competitors, both local and international. The firm has repeatedly been recognised by prestigious rating agencies, and was named Czech Law Firm of the Year (for the third time) at the Chambers Europe Awards for Excellence 2015. The firm is international in outlook, advising across borders and on matters of Czech and English law. It is also an active member of various professional networks, which allow it to deploy the very best local lawyers on regional and global transactions. KSB's activities extend beyond the commercial sphere. The firm strongly believes that lawyers have a role to play in society and the professional community, such as defending human rights and upholding the rule of law. KSB's partners are active in the International Bar Association, as well as Czech and other international legal organisations, and assist in the creation of new laws and regulations.

Firm's website: http://www.ksb.cz/en/