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.
New White & Case Local Partners in Prague and Warsaw
White & Case has announced a new Local Partner hire in Prague as well as four new Local Partners in Prague and Warsaw as part of its latest promotion round.
White & Case and A&O Shearman Advise on Energo-Pro Green Finance's CZK 3.5 Billion Green Bond Issuance
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.
KSB Advises Avant Loan Sicav on EU Growth Prospectus
Kocian Solc Balastik has advised Avant Loan Sicav on its first EU growth prospectus.
Dunovska & Partners Advises Aricoma on Dual Acquisition of Czech IT Companies
Dunovska & Partners has advised Aricoma on a parallel dual acquisition of IT companies TaxLabs from Synteca and Gist from individual sellers. Rowan Legal reportedly advised Synteca. Kaplan & Nohejl reportedly advised the sellers of Gist.
Havel & Partners Advises Amundi Czech Republic on Sale of Louis Vuitton Headquarters in Prague
Havel & Partners has advised Amundi Czech Republic on the sale of a building in Prague's District 1 to Raiffeisen Realitni Fond, managed by Raiffeisen Investicni Spolecnost. OHBS reportedly advised the buyers.
Are You Ready to Become a Venture Capital Entity?
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.
New Product Liability Directive and Software AI Newly Considered as Products
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 and Eversheds Sutherland Advise on Ceska Sporitelna and Ceskoslovenska Obchodni Banka's Financing for Silon Group
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 Advises on Sale of Easys to BizLink Group
Nechala and Partners has advised Heimo Wallisch on the sale of Easys to BizLink Group. Baker McKenzie reportedly advised BizLink.
Closing: Nordic Telecom Holdings' Sale of Nordic Telecom Regional to O2 Czech Republic Now Closed
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 Advises BPD Development on Disposal of Land in Prague
Clifford Chance has advised BPD Development on the sale of its development land in Prague to Daramis. AK Felix reportedly advised Daramis.
Eversheds Sutherland and Urban & Hejduk Advise on E. Hofmann Plastics' Acquisition of PAP Packaging
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 Advises BHM Group on Entering the UK Market
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.
KSB and ODI Law Advise on Energo-Pro Group's Sale of Litostroj Group to Wikov Industry
Kocian Solc Balastik, working with ODI Law, has advised Energo-Pro Group on the sale of Litostroj Group to Wikov Industry.
A&O Shearman and Havel & Partners Advise on Colt CZ Group's CZK 2.24 Billion Share Placement
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.
Can a Forgiven Debt be "Revived"?
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 Advises Wienerberger on Acquisition of Betonarna Lesonice
Kinstellar has advised Wienerberger on its acquisition of Betonarna Lesonice. Prochazka & Co reportedly advised the seller.