Clifford Chance has advised Generali Real Estate on the acquisition of Kotva Department Store, a 28,000 square meter seven-story building in the Prague city center from PSN, which was reportedly advised by Dolecek Advokati.
In The Corner Office feature of CEE Legal Matters we ask Managing Partners at leading law firms across Central and Eastern Europe about their unique roles and responsibilities. In light of current events, the question for this online occurrence of the feature is: "How are you managing your team working remotely during this challenging period?"
BPV Braun Partners has advised Generali Investments CEE, an investment company acting on behalf of the Generali Real Estate Fund, on the acquisition of a residential building in Prague from a private investor. CEE Attorneys advised the unidentified seller on the deal, and the value of the transaction was not disclosed.
Many employers currently find themselves in a precarious position, faced with deciding how to deal with the obstacles to work arising from the coronavirus crisis, irrespective of whether these obstacles are the result of government measures (total or partial restrictions on operations) or due to real operational reasons (difficulties in the supply of materials for production, drop in sales). The Labour Code does not take into account obstacles to work caused by the pandemic, and employers are thus faced with issues in the interpretation of the relevant provisions of the Labour Code. In the text below we will attempt to clarify the issue of obstacles on the part of the employer, at least in part.
White & Case has advised international investment company TPG Capital on a development loan for unidentified industrial premises to "serve as multi-purpose facilities for warehousing, administration, and trade and science and technology.”
Against a backdrop of global uncertainty fuelled by Brexit, a US-China trade war, and a weakening German economy, Central and Eastern Europe has proven itself economically resilient in the face of a challenging year. Led by Hungary, Poland, and Romania – all of which reported more than 4% GDPs growth – many emerging European countries have comfortably outshone the sluggish economies of Western Europe. It is, therefore, unsurprising that foreign investors flocked to the region in 2019 in search of healthy returns.
Allen & Overy has advised J.P. Morgan, HSBC, Societe Generale, UniCredit, Erste Group, and J&T BANKA as initial purchasers of the EUR 300 million 3.875% Senior Notes due 2027 issued by the Sazka Group and guaranteed on a senior basis by subsidiary Sazka Czech. Milbank reportedly acted as the international and New York law counsel for Sazka, with Clifford Chance reportedly advised it on Czech law aspects.
A new Act No. 39/2020 Coll., on Real Estate Brokerage, came into effect in the Czech Republic on 3 March 2020. The Act tightens the requirements on real estate brokers (including real estate agencies) and implements new elements of protection for those using real estate brokerage services.
Greenberg Traurig has provided Polish advice to GLP on its acquisition of Goodman Group’s Central and Eastern Europe logistics real estate portfolio. Kirkland & Ellis served as global legal counsel to GLP, while Kinstellar provided local legal advice with respect to the Czech, Slovak, and Hungarian aspects of the transaction. Goodman Group was advised by Allen & Overy.
Kinstellar has helped Portiva negotiate a framework agreement for the future acquisition of Astrid Offices, an administrative center under development in Prague’s Holesovice district. The deal is valued at approximately EUR 19.5 million.
Contributed by Rowan Legal
Clifford Chance has advised Heimstaden Bostad AB on the EUR 1.3 billion acquisition of Residomo's residential portfolio, which consists of move 42,000 residential units, primarily in the Moravia-Silesia region of the Czech Republic.
Weinhold Legal has advised Skolnik Holding s.r.o. on the acquisition of a majority stake in the company Hobra-Skolnik from Switzerland's Filtrox.
Kocian Solc Balastik has advised Solitea on the acquisition of Axiom Provis Int.
Worried about COVID-19? During the outbreak, it is challenging for patients to seek in-person medical care. Self-quarantine is an important tool in managing disease transmission, especially among patients who are vulnerable to the risk of infection. This is where telemedicine becomes essential to ensure that patients have access to medical care and to boost community support. In times of a global public health emergency like the COVID-19 outbreak, healthcare systems should lean on remote medical check-ups, e-prescriptions and postal delivery of medicines in situations of quarantine and to tackle the further spread of the disease. Healthcare systems should expand beyond traditional healthcare tools and leverage existing telehealth tools to direct people to the proper level of healthcare for their medical needs (both to address their medical condition and to screen for COVID-19). Moreover, state administrations should make a historic effort to at least temporarily lift restrictions on telehealth usage (where such exist) to assist in the efforts to reduce patients' exposure to the virus and to ensure public health and safety.
Kocian Solc Balastik has advised Czech hosting company IGNUM on its acquisition of web hosting and server services provider Stable.cz.
The acquisition of a sports club is definitely a specific process in many respects and requires preparation on several fronts. This article takes a closer look at one of the first steps to undertake before acquiring a sports club, namely legal due diligence. Along with the areas usually checked, one must pay attention to several specific areas stemming from the specific characteristics of the sport (and each type of sport has not only its own considerable further specifics, but also its own unique risks).
Plea bargain should be possible to arrange in cases of major criminal offences. Further planned novelty is a guilty plea.