Prague-based Attorneys Tomas Bures and Jan Varecha and Bratislava-based Attorney Eva Hromadkova have been appointed as Associate Partners at PRK Partners.
What is ESG and What Does it Mean for You?
The acronym ESG has recently become more and more common in business circles. Therefore, we have decided to write up this short article to help you understand what ESG is and what it means for business relationships.
CSRD – General Outline of New Requirements in the Area of Governance
The Corporate Sustainability Reporting Directive (CSRD) took effect on 5 January 2023. This directive amends the Non-Financial Reporting Directive of 2014 (NFRD) and introduces more detailed requirements for non-financial reporting in the area of ESG.
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.
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.
Czech Republic: New Rules on AI and Product Liability
At the end of September 2022, the European Commission (EC) published the long-expected proposals for legal regulation on civil liability for damage caused with the involvement of artificial intelligence (AI Liability) and liability for damage caused by a defective product (Product Liability). Whereas a proposal on AI Liability already existed (Civil liability regime for AI, published by the European Parliament in 2020), this is the first draft of an updated Product Liability.
(Re)constructing Restructuring and Insolvency in CEE
There is a growing concern, across CEE, about a potential wave of insolvency and restructuring proceedings. Given the economic aftermath of COVID-19, coupled with the ramifications of rising inflation and interest rates, energy crisis concerns, and the war in Ukraine – the road ahead seems bumpy at best.
Hogan Lovells and PRK Partners Advise on RGW Express Alliance with Groupe BBL
Hogan Lovells and PRK Partners have advised Polish-Czech RGW Express Group owner Hartmut Luetz on the sale of all shares in the company to French Groupe BBL.
Did You Know: 2022 Czech Leaderboard
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, Havel & Partners has worked on 25 Czech client matters so far this year – more than any other law firm?
PRK Partners Advises Karo Leather on START Market Share Subscription
PRK Partners has advised Karo Leather on the public subscription of its shares on the START market of the Prague Stock Exchange.
PRK Partners Advises Banks on EPH Financing Bond Issuance
PRK Partners Advises Ceska Sporitelna, Komercni Banka, and UniCredit Bank Czech Republic and Slovakia in the sale of bonds issued by EPH Financing.
New Cybersecurity Rules in Europe
Europe is awaiting the evolution of cybersecurity. On 3 May 2022, the Council and the European Parliament agreed on the so-called NIS 2 Directive (Directive on measures for a high common level of cybersecurity across the Union). NIS 2 repeals the currently effective NIS Directive.
Know Your Lawyer: Vaclav Bily of PRK Partners
An in-depth look at Vaclav Bily of PRK Partners covering his career path, education, and top projects as a lawyer as well as a few insights about him as a manager at work and as a person outside the office.
Good News for Property Development
The Times They Are a-Changin’ – such a description is more than appropriate for the municipality-developer relationship in recent months in the Czech Republic. The adoption of a new construction code promises to bring fresh wind into development projects and improve the relationships between these two major players. This is most likely to happen thanks to the re-introduction of the so-called planning agreements into the Czech legal environment. Although already recognized and used in the past, this new instrument is getting more and more noticed by Czech municipalities, most of all by the City of Prague, which, on January 27, 2022, adopted the brand-new Guidelines on the Investor Participation in Urban Development, the application of which is done through planning agreements.
Recent Trends in Migration and Corporate Law in Czechia Reflecting the Russian War Against Ukraine
Russia’s military aggression in Ukraine and the subsequent wave of refugees has been a new challenge for all European countries – and the Czech Republic is no different. A very low unemployment rate and a shortage of workers is a long-standing problem in Czechia and, thus, this new situation brings not only challenges but also opportunities. There have been more job openings than workers in the Czech economy since 2018 and, in 2021, the Labour Office recorded about 350,000 job openings. This situation slowed growth in the Czech economy and, thus, accepting Ukrainian refugees happens to be not only a moral obligation but also in the country’s best interest and an opportunity for future growth.
The Low-Key Priority: Life Sciences R&D in the Czech Republic
Life Sciences R&D has consistently been touted as one of the Czech government’s top priorities – and the markets and investors have not been indifferent. We reached out to several experts to check up on the overall health of life sciences R&D in the Czech Republic and learn how that priority translates into practice.
Round Six: The European Union Ban on Russian Energy Imports
The sixth package of European Union sanctions imposed on Russia is a widely discussed topic, yet the overall levels of preparedness to adopt the associated energy import ban varies from one country to another. Indeed, with Russian oil and gas exports being such a dominant source of energy for a number of European countries, it remains to be seen how all of them adapt to the change. To gain insight into how certain EU member states and non-EU countries are (likely) to fare in the immediate wake of the ban, we reached out to legal professionals from Turkey, Poland, Bulgaria, the Czech Republic, and Moldova.
PRK Partners Advises SCS Software on Relocating Prague Headquarters
PRK Partners has advised SCS Software on relocating its Prague headquarters to the Roztyly Plaza project.