CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Allen & Overy has advised Eurowag on a strategic partnership through the acquisition of a minority stake in the JITpay Group. Reportedly, Germany-based Compleneo advised the JITpay Group.
Kocian Solc Balastik has advised J&T Banka on the CZK 1 billion increase of Rohlik Group's bond issuance.
A draft amendment to the Czech Labour Code, to transpose European legislation into the Czech legal system, is currently being considered by Czech ministries. As the amendment introduces significant changes that will affect almost all employers, allow us to present you with a brief summary of at least the most important ones.
Baker McKenzie has advised Energeticky a Prumyslovy Holding on its acquisition of all shares in the Dutch PZEM Energy Company and PZEM Pipe and 50% of shares in Sloe Centrale Holding from PZEM. NautaDutilh advised PZEM.
Dentons has advised Komercni Banka and Ceska Sporitelna on the EUR 715 million refinancing of the Eurowag Group. White & Case advised Eurowag.
PwC Legal has advised Orlen Unipetrol on the acquisition of Remaq. Havel & Partners advised Libor Vecera, Renata Vecerova, and Dieffe SRL on the sale.
The Czech Act on Ultimate Beneficial Owners (the "UBO Act") has been effective since 1 June 2021. Not even a year and a half later, Czech lawmakers introduced an amendment to the UBO Act (the "Amendment") after significant pressure from the European Commission to comply with the Fifth Anti-Money Laundering Directive ("AMLD5").
Havel & Partners has advised Skoda Auto in resolving disputes over the use of the Skoda sign with engineering companies from the Skoda Group.
PRK Partners Advises Ceska Sporitelna, Komercni Banka, and UniCredit Bank Czech Republic and Slovakia in the sale of bonds issued by EPH Financing.
Penteris, HKV, and Oppenheim have advised Immofinanz on the acquisition of a retail property portfolio from the CPI Property Group for EUR 324.2 million. Reportedly, BPV Braun Partners advised Immofinanz as well.
With instability and uncertainty both in the political and economic spheres, the Czech Republic is preparing for a new wave of restructuring and insolvency procedures, according to Dentons Partner Jiri Tomola.
Former KPMG Lawyer Romana Szutanyi has joined Rowan Legal as Head of Employment.
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.
PwC Legal has advised AMiT Holding co-founders and co-owners Michal Prerovsky, Martin Vosahlo, and Karel Ludvik on their sale of a 70% stake in AMiT Holding to Central Europe Industry Partners. Rowan Legal advised CEIP on the acquisition.
Kocian Solc Balastik has advised the Passerinvest Group on its acquisition of Prague’s Gamma office project from Immofinanz. Wilsons advised the seller.
Clifford Chance has advised Actis on the launch of its portfolio business Rezolv Energy and on Rezolv's acquisition of the Romanian Vis Viva onshore wind project from Low Carbon.
A major amendment to consumer law is on the horizon in the Czech Republic, and although it has so far undergone only a first reading in the Chamber of Deputies, it is not premature to look at its content. As for the most part it consists of the implementation of European directives, which leave almost no room for deviation, no major changes to the proposed draft are expected to be made during the legislative process. Another focus of this legislative amendment is digital content, particularly the rights and obligations connected to its supply.
JSK has advised Abris Capital Partners and its portfolio company Alsendo on their acquisition of a majority stake in Zaslat.cz. Samak reportedly advised the sellers.
PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.
PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.
Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.
PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.
Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).
Firm's website: www.prkpartners.com
