Weil Gotshal & Manges has announced that it will close its Prague office at the end of this year.
45 days. That’s how long it took Roman Kramarik, Partner at JSK in the Czech Republic who recently became the first-ever Czechoslovakian pilot to fly around the world, to complete his 36,863-kilometer mission. After crossing three oceans, surviving monsoon rains, facing the cold of Alaska and the warmth of the Far East, all behind the controls of his Cessna P210N Centurion airplane named the “Winged Lion,” Kramarik returned to his office at the Prague law firm, rightly proud – and more than a little exhausted.
In its most recent annual report, the Czech Competition Authority stated that the investigation of bid-rigging cartels would be its highest priority. The issue of bid rigging is a hot topic that has attracted the attention not only of the CCA, but also that of the Czech police and public prosecutors, who have been very active in investigating bid-rigging cartels in recent years.
Maravela | Asociatii has assisted Precision for Medicine in connection with Romanian law aspects of its multi-jurisdictional acquisition of contract research organization Argint International. Bird & Bird was lead counsel to Precision for Medicine on the deal. Kinstellar's advised the sellers on Romanian, Czech, and Hungarian aspects of the deal, working with lead counsel Osborne Clarke.
Clifford Chance has advised Ceskoslovenska Obchodni Banka, a. s., as mandated lead arranger, facility agent, security agent, and underwriter on the initial finance documentation and in relation to subsequent syndication and transactional closing with Ceska Sporitelna, a.s. and the EBRD on financing provided to Karlovarske Mineralni Vody's for its acquisition of PepsiCo's assets and operations in the Czech Republic, Slovakia, and Hungary. Kocian Solc Balastik advised KMV on the financing and on the underlying acquisition, and represented KMV in proceedings before the Czech Competition Authority.
In April 2018 the Office for the Protection of Competition adopted new guidelines on the method of setting fines for competition law infringements,(1) noting that the need for a revision of the previous guidelines had emerged in the wake of developing case law, as well as amendments to the Act on the Protection of Competition.
Randa Havel Legal ⎯ the Czech member of the Act Legal alliance ⎯ has represented the owners of Janus spol. s r.o., a distributor of Kyocera brand products in the Czech Republic and Slovakia, on the sale of 100% of their shares to Dutch company Kyocera Document Solutions Europe B.V. The buyer was represented by Weinhold Legal.
The legal regulation of transactions with virtual currencies and Initial Coin Offerings / Initial Token Offerings is a topic of ever more frequent discussion in the Czech Republic. The ano-nymity of cryptocurrency transactions has been reduced by the introduction of Anti-Money Laundering (AML) rules, while the Czech regulator’s approach to the regulation of trading with virtual currencies is very liberal.
Masek, Koci, Aujezdsky has advised Livesport Invest s.r.o. on its acquisition of a significant stake in Liftago, a.s. from 15 shareholders in the company and by means of a subscription of newly-issued shares in connection with the increase of the company's registered capital. Some of the selling shareholders were advised by Strnad Joch Lokajicek, and Mikulas & Partneri advised Liftago. The value of the deal is reported to be over CZK 100 million.
Ondrej Plesmid is the Chief Legal Officer at King’s Casino in the Czech Republic. His career as a lawyer started in a small law office, and he subsequently worked for over three years in the Czech Ministry of Finance and then the Ministry of Regional Development. In 2017 he moved to the private sector and started to work at King’s Casino.