Things are pretty calm on the legislative front in the Czech Republic at the moment, says JSK Partner Tomas Dolezil, and nothing big is expected for the next few months either. "But next year,” he says, "the new government needs to prepare a number of legislative proposals. For instance, the Ministry of Finance is working on a reform of the Czech Capital Market.” According to Dolezil, “a concept is being discussed and produced, and is now waiting for some political guidance or discretion, and on this basis we expected legislative changes to be proposed next year. Among others it is expected that the changes will affect the Private Equity/ Venture Capital sector.”
On May 25, 2018, the General Data Protection Regulation finally came into effect, imposing new requirements on organizations within the European Union and on those outside the EU that offer goods or services to EU data subjects or monitor their behavior. To learn more about the state of readiness in one such country, we spoke to Schoenherr attorney and Data Protection specialist Eva Bajakova in Prague.
The GDPR comes into effect on May 25, 2018. Since data processing concerns a wide range of activities, very few companies or entrepreneurs will be unaffected. Numerous articles and discussions have been posted about the GDPR in the media, some of which contain false or misleading information and therefore give rise to concern, especially considering the possibility of high penalties. Failure to adopt national implementing legislation does not help the situation either. In this article we would like to highlight some of this misleading information and explain the inaccuracies.
JSK has advised investment fund BHS Private Equity Fund on the acquisition of engineering company Boco Pardubice Machines from private individuals Jan Dostal, Petr Pilny, and Jan Dotzauer, with the latter staying on as a minority partner and co-investor. Havel & Partners advised the sellers in the deal.
Restrictive clauses are common in commercial lease agreements. Such clauses can limit a landlord's ability to lease property to other tenants, restrict a tenant's business activities to a certain geographical area or control the subleasing of property. Breaching such a clause can often lead to strict contractual penalties.
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).
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.