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Prorogation clauses are forum-selection clauses in contracts between entrepreneurs, who agree in writing on the local jurisdiction of a first-instance court for disputes arising out of or in connection with their business matter, unless the law states otherwise and prescribes an exclusive jurisdiction. It is possible to enter into a separate prorogation agreement instead of a contractual clause with the same effect.

JSK has advised Tilia Impact Ventures and Nation 1 on their investment in Dot Glasses, a provider of a radical new concept for prescription eyeglasses for people in need. The Mavericks law firm advised Dot Glasses on the deal.

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 advising 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 Advises Portiva on Acquisition of Astrid Offices in Prague

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.

Czech Republic Knowledge Partner

JŠK, advokátní kancelář, s.r.o. (JŠK) is a medium-sized law firm based in Prague providing a comprehensive range of commercial legal advisory services in the Czech Republic. Our team consists of almost 30 lawyers, five of whom are partners with many years of experience from leading international law firms. We advise local and international clients from banking, insurance and various industry sectors, boast a respected projects practice, and work for the public sector at the federal and municipal level.

Ever since it was founded in 2004, JŠK has striven for the epitome of professionalism, expertise and ethical integrity. We continuously seek to surpass what large global law firms can offer and to give our clients a personal approach. All mandates are equally important to us regardless of size as we guide clients through both complex and seemingly routine matters.

Our clients turn to us for advice when implementing their business plans across all areas of commercial law. We are proud members of PONTES: the CEE lawyers, a unique network of law firms through which we provide services not only in the Czech Republic but also in Austria, Bulgaria, Hungary, Poland, Romania and Slovakia.

Firm's website: http://www.jsk.cz

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