CEE Attorneys has advised Czech consumer credit provider LeaderFin s.r.o on obtaining a non-bank consumer credit provider license and a listing in the Czech National Bank register of non-bank consumer credit providers.
The European Union’s General Data Protection Regulation is, according to the EU-hosted GDPR website, “the most important change in data privacy regulation in the past 20 years.” The Act, which was approved by the EU Parliament on April 14, 2016 and will become fully effective on May 25, 2018, was designed “to harmonize data privacy laws across Europe, to protect and empower all EU citizens’ data privacy, and to reshape the way organizations across the region approach data privacy.”
It’s been quite a wait, but the D4 Motorway PPP project should be coming to market in April. The project will involve the design, construction, financing, operation and maintenance of a 36 km stretch of motorway between Pribram and Pisek in the south west of the Czech Republic, with operation and maintenance of an adjacent 16 km of existing motorway.
The winners of the 2017 CEE Deal of the Year Awards were announced at the first ever CEE Legal Matters Deal of the Year Awards Banquet last night in Prague. The biggest smiles in the joyous and music-filled celebration of CEE lawyering, perhaps, were on the faces of Partners from Avellum and Sayenko Kharenko, which, along with White & Case and Latham & Watkins, won the award both for Ukrainian Deal of the Year and CEE Deal of the Year for their work on the 2017 Ukraine Eurobond Issue (a story initially reported by CEE Legal Matters on October 2, 2017).
Havel & Partners and the Frankfurt office of Latham & Watkins have advised a consortium of banks as initial purchasers of 3% senior secured notes in an aggregate principal amount of EUR 450 million due in 2026 issued by Progroup AG and a second consortium of banks in relation to several facilities agreements in an aggregate of more than EUR 600 million (equivalent). Mayer Brown's Dusseldorf office and bpv Braun Partners advised Progroup on German law and Czech law, respectively.
Dentons has advised PFNonwovens Inc., a member of the Prague-based R2G Rohan nonwovens group, in connection with its agreement to acquire First Quality Nonwovens Inc. and First Quality Nonwovens (Wuxi) Co., Ltd., an American and a Chinese manufacturer of nonwovens for consumer, health care, and industrial products. The seller, First Quality Enterprises, was represented by Wachtell Lipton, Rosen & Katz.
Weinhold Legal has advised Zdenek Rinth on the sale of 90% of Kara Trutnov a.s. shares to the C2H group, which belongs to a Czech private investor Michal Micka. Rinth retains the remaining 10%. Financial details were not disclosed, though a Weinhold Legal spokesman confirmed published reports that it was "lower hundreds of millions of CZK."
The European Commission has just published its comprehensive proposal for the so-called "New Deal for Consumers", which aims to strengthen EU consumer rights and enforcement. This includes the proposal for a new Directive enabling certain qualified entities to seek redress on behalf of consumers who have been harmed by an unlawful commercial practice.