As of 1 January 2023, a significant amendment to the Act on Significant Market Power takes effect.
Clifford Chance and Ciftci Advise Arcelik on New Standalone Home Appliance Business JV with Whirlpool
Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership have advised Arcelik on the establishment of a joint venture between its Ardutch subsidiary and Whirlpool Corporation subsidiary Whirlpool EMEA Holdings to create a new standalone business in the European home appliances sector. Latham & Watkins advised Whirlpool.
The Upcoming Amendment to the Act on Pharmaceuticals: Will it Mark the end of Drug Shortages?
For the last couple of months, we have all experienced a shortage of certain pharmaceuticals on the market, especially antibiotics or pharmaceuticals for fever reduction for children. Given that this situation reoccurs almost every flu season, the Ministry of Health of the Czech Republic has newly established a formal working group monitoring the availability of pharmaceuticals on the market. The Ministry of Health is also preparing the amendment to the Act on Pharmaceuticals so that it can, on its own or in cooperation with the State Institute for Drug Control („SUKL“), better respond to urgent drug shortages in case of crisis situations.
Preventive Restructuring as a Precursor to Insolvency Proceedings
A draft of a preventive restructuring act is being discussed in the Czech legal environment to implement the EU directive on restructuring and insolvency (directive (EU) 2019/1023). The aim of the new legal regulation is to introduce an out-of-court restructuring model with shorter times to improve operations and the balance sheets of debtors in financial difficulties. Different forms of out-of-court restructuring are common and frequently used in many foreign jurisdictions, e.g. arrangements in England and Wales. Unlike insolvencies, in preventive restructuring the court is a “mere” supervisor supported by the restructuring trustee in certain situations.
JSK Advises Genesis Capital and Avallon MBO Fund on Acquisition of TES Vsetin
JSK has advised Genesis Capital and the Avallon MBO Fund on their acquisition of TES Vsetin. CMS reportedly advised ARX Equity Partners on the sale.
Promising New Year in the Czech Republic: A Buzz Interview with Vladimir Cizek of Schoenherr
The Czech Republic is looking at a promising start to the year, after somewhat of a market slowdown towards the end of 2022, with no dark clouds on the horizon just yet, according to Schoenherr Partner Vladimir Cizek.
PRK Partners Successful for Transgender Client Before Supreme Administrative Court
PRK Partners has successfully represented the interests of a client who completed a gender transition process in a matter regarding the issuance of official documents bearing the applicant's new personal data before the Supreme Administrative Court.
KSB and Clifford Chance Advise on J&T Agriculture and Ecology Financing and Acquisition of Spearhead Companies
Kocian Solc Balastik has advised J&T Agriculture and Ecology on its acquisition of 11 companies within Spearhead Czech and Spearhead Slovakia and the related acquisition financing by a banking group led by Komercni Banka. Clifford Chance advised the lenders.
Former Osborne Clarke CEO Simon Beswick Joins Kinstellar
Former Osborne Clarke CEO Simon Beswick has joined Kinstellar’s Board of Directors as a non-executive member.
Stepan Starha Makes Equity Partner, Jiri Kunasek Makes Partner at Havel & Partners
Partner Stepan Starha has been elevated to an Equity Partner with Havel & Partners, while Lawyer Jiri Kunasek has been promoted to Partner.
JSK Advises Bunzl on Acquisition of VM Footwear
JSK has advised Bunzl on its acquisition of VM Footwear. HKR Advokatni Kancelar reportedly advised the sellers.
Ondrej Ponistiak Makes Partner at BPV Braun Partners
Former Managing Associate Ondrej Ponistiak has become a Partner with BPV Braun Partners as of January 1, 2023.
The CEELMDirect Profile Pick: An Interview with Jiri Sixta of Glatzova & Co.
CEELMDirect Profile Pick: A series of interviews with Premium profile-holders on the CEELMDirect legal directory. Today’s interview: Jiri Sixta, Partner at Glatzova & Co. in Prague.
Andrea Adamcova, Matej Manderla, and Petr Vosahlik Make Partner at BBH
BBH has announced the appointment of Andrea Adamcova, Matej Manderla, and Petr Vosahlik as Partners within the firm, effective January 1, 2023.
JSK Advises Tescan Orsay Holding on Sale of Majority Stake to Carlyle
JSK has advised the Tescan Orsay Holding on the sale of a majority stake in the company to Carlyle. White & Case reportedly advised Carlyle.
BBH Advises CEZ on Acquisition of Skoda JS Nuclear Supplier
BBH has advised the CEZ Energy Group on its acquisition of the Skoda JS nuclear servicing and engineering company along with its subsidiary Middle Estates.
KSB Advises Aero Vodochody Aerospace on L-39NG Aircraft Sale Contracts
Kocian Solc Balastik has advised Aero Vodochody Aerospace on preparing the draft contractual documentation used in the sale of its L-39NG aircraft.
KSB Advises J&T Arch Investments on Acquisition of Minority Stake in Moneta Money Bank
Kocian Solc Balastik has advised J&T Arch Investments on its acquisition of a minority stake in the Moneta Money Bank from Petrus Advisers. Dechert reportedly advised the sellers.