PRK Partners has advised Credit Suisse, Goldman Sachs, Morgan Stanley, and other lenders on the Czech law aspects of refinancing senior acquisition and revolving facilities amounting to EUR 2,13 billion, governed by English law.
In April 2018, the European Commission imposed a fine of €124.5 million on French multinational telecommunications and mass media company Altice, for implementing its acquisition of PT Portugal before the Commission had approved the transaction and before the acquisition had even been notified to the Commission in some respects. In its judgment in Altice Europe v Commission, issued on September 22, 2021 (Case T-425/18), the European General Court (EGC), as the first instance EU court, dismissed Altice’s appeal against the Commission’s decision in its entirety, although it did reduce the original fine by €6.2 million, to €118.6 million, given that Altice had eventually notified the transaction.
An amendment to the VAT Act in e-commerce is expected to come into effect in the coming days as part of the ongoing law-making process. The amendment implements the EU Council’s tax package into the Czech system of laws. It also introduces significant changes to imports, cross-border trade within the EU and extends the possibilities for the use of the special one-stop-shops.
On 14 September 2021, the Chamber of Deputies approved the long-awaited amendment to Act No. 48/1997 Coll., on Public Health Insurance (the “Act”), as returned by the Senate (the “Amendment”). It now awaits signing by the President of the Czech Republic. The Amendment brings a wide range of changes and innovations, such as rules for the entry of innovative drugs and orphan drugs into the reimbursement system, the creation of centres for rare diseases and mental health centres, and the introduction of a definition of a patient organisation.