Dvorak Hager & Partners has represented Cool Credit, s.r.o. in its registration in the register of non-bank consumer credit providers with the Czech National Bank.
The Czech Republic's new Consumer Loan Act was introduced in the beginning of 2016, tightening entry requirements for the credit market. Cool Credit met the requirements of the act and received a license from the Czech National Bank (CNB). The license is granted for a limited period of five years, with an option for renewal for another 60 months upon payment of an administrative fee.
The Dvorak Hager & Partners team was led by Partner Lukas Zahradka and included Attorneys Katarina Jendzelovska and Vojtech Faltus.