CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
If you manage an alternative fund under Section 15 of the Czech Act on Investment Companies and Investment Funds (ZISIF), you will need to comply with new legislation by 31 December 2024. Every manager will be required to amend the name of their company to include the term "venture capital entity", while the word "fund" must be removed.
On 18 November 2024, the new Product Liability Directive (the Directive) was published in the Official Journal of the EU (link). It replaces almost 40 years of legislation that was no longer relevant in the digital age, given the dynamic development of new technologies. What does it bring and what has changed? We have prepared a short summary for you.
CMS, working with Vedder Price, has advised Ceska Sporitelna and Ceskoslovenska Obchodni Banka on the financing for the Silon Group, including a sustainability-linked loan, which will be linked to the environmental goals of the entire group. Eversheds Sutherland advised the Silon Group.
Nechala and Partners has advised Heimo Wallisch on the sale of Easys to BizLink Group. Baker McKenzie reportedly advised BizLink.
Kocian Solc Balastik has announced that Nordic Telecom Holdings' Sale of Nordic Telecom Regional to O2 Czech Republic (as reported by CEE Legal Matters on July 18, 2024) closed on September 30, 2024.
Clifford Chance has advised BPD Development on the sale of its development land in Prague to Daramis. AK Felix reportedly advised Daramis.
Eversheds Sutherland has advised E. Hofmann Plastics on its acquisition of PAP Packaging from Manfreplast in Liquidazione. Urban & Hejduk advised the sellers.
A&O Shearman has advised Reinsberg Group on its acquisition of a majority stake in Brandon Medical. Veronique Marot & Co Solicitors reportedly advised Brandon Medical.
Kocian Solc Balastik, working with ODI Law, has advised Energo-Pro Group on the sale of Litostroj Group to Wikov Industry.
A&O Shearman has advised sole global coordinator, settlement agent, and joint bookrunner Wood & Company Financial Services and joint bookrunner Erste Group Bank on the placement of newly issued shares of Colt CZ Group SE through an accelerated book-building process targeted at selected investors. Havel & Partners advised Colt.
A creditor has forgiven part of a debtor's debt on the condition that the debtor will make every effort to avoid insolvency and repay at least the remaining, unforgiven part. However, the creditor also set a resolutive condition: if the debtor were to become insolvent (i.e. the court declared it bankrupt), the debt forgiveness agreement was to be void from the outset and the debtor would be obliged to repay the debt in full.
Kinstellar has advised Wienerberger on its acquisition of Betonarna Lesonice. Prochazka & Co reportedly advised the seller.
Karel Petrzela has been promoted to Partner at White & Case in a promotion round that saw a total of 37 partnership appointments throughout the Americas, EMEA, and Asia-Pacific regions.
Clifford Chance has advised Ceskoslovenska Obchodni Banka on the financing of OAMP Infrastructure and OAMP Distribution.
BBH Managing Partner has moved in-house and joined Kaprain.
Kocian Solc Balastik has advised Green Gas DPB on a set of long-term contracts for the supply and off-take of coal mine methane.
It will soon be twenty years since Regulation 261[1] came into force, which introduced an unprecedented level of protection for air passengers and was supposed to provide much greater protection in cases of denied boarding, cancellation, or long delays. So, has the (in)famous Regulation 261 served its purpose?
The Czech Class Actions Act[1] became effective on 1 July 2024. Previous articles have provided an overview of key aspects of the new legislation and subjects of these proceedings. This part will focus on the challenges related to the publicity of class actions and explore ways in which companies, as defendants, can protect themselves from negative impacts.
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
