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The Czech Republic is struggling to implement the European SEVESO Directive into its legislation. Preventing the consequences of accidents in potentially hazardous companies, such as chemical plants, is thus in a state of emergency. After previous half-hearted solutions, however, the amendment that is being prepared by the Ministry of the Environment offers new hope.

White & Case has advised Energo-Pro Green Finance on its CZK 3.5 billion retail domestic offering of green notes due 2029 with J&T IB and Capital Markets as the arranger and J&T Banka and UniCredit Bank Czech Republic and Slovakia as the managers. A&O Shearman advised the joint lead managers.

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.

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.

Czech Republic Knowledge Partner

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

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