One of the challenges of introducing class actions to the Czech legal system is the finding of a proper balance between the interests of clients and those of attorneys. While the default position is that attorneys are to protect the justified interests of their clients and place them before their own (within statutory limits, of course), a careful balancing exercise will need to be carried out if class actions are to be allowed. While class action law is still at the stage of an initial proposal in the Czech Republic, this proposal is demonstrative of the direction the Czech Ministry of Justice intends to take.

In the 36 years since its launch in 1993 by Marek Prochazka as a Prague banking and finance boutique, PRK Partners has added offices in Bratislava and Ostrava and grown into one of the largest and most successful law firms in the Czech and Slovak Republics. That growth, the firm’s partners maintain, is a by-product of the firm’s traditions of flexibility, professionalism, and innovation, rather than the result of a predetermined plan.

Artificial Intelligence is, after distributed ledger technology, the new frontier for legal scholars, and many are working to define how important and significant its future development is and how it is going to shape our legislation, affect our judiciary, and transform our societies. Many are striving to outline new legal definitions of AI, propose novel legal subjectivity and liability for AI’s defects or damage, or reframe ethical principles that AI has to follow, once we finally create it and release it to the world.

DLA Piper Poland, Oppenheim, and PRK Partners have advised Metro Properties on the more-than-EUR 250 million sale and lease-back of 11 Cash & Carry stores in Poland, Hungary, and the Czech Republic to FLE GmbH, an Austrian subsidiary of French LFPI Group, investing on behalf of the AIF regulated fund. Allen & Overy, Novalia, and DLA Piper Hungary advised FLE on the transaction, which was finalized in August 2019.

The Czech Republic was one of the first countries in Europe to allow the use of cannabis for medical purposes. This was achieved in 2013 by means of an amendment to the Act on Pharmaceuticals, which was subsequently implemented by the “Cannabis Regulation.” Despite this, access to medical cannabis still remains difficult for many patients.

On March 28, 2019 the Slovak parliament adopted Act No. 91/2019 Coll. on Unfair Conditions in Food Trade, which completely replaces previous legislation on the subject.

The tobacco products market is heavily regulated in the Czech Republic, as it is across the European Union. A key document is the Tobacco Products Directive (2014/40/EU), which sets out a uniform, detailed framework for all EU member states. The TPD thus provides substantial direction regarding tobacco regulation, tobacco products, and electronic cigarettes, as well as novel tobacco products. It includes comprehensive definitions of various types of tobacco products and regulates their labeling and packaging, mandatory health warnings and security features, and how to place them on the EU market.

Dentons has advised a South Korea's Hana Financial Investment, represented by the Mint Investments Group, on its acquisition of the Main Point Pankrac office building in Prague, from Aceur Investment S.A. PRK Partners advised Aceur.

PRK Partners has advised the Remy Cointreau Group on Czech and Slovak aspects of the sale of its Czech and Slovak distribution companies to Germany's Mast-Jagermeister. Germany's Luther law firm provided advice on German elements of the deal, which closed in April 2019. while Germany's Gutt Olk Feldhaus and Schoenherr in the Czech Republic and Slovakia reportedly advised Mast-Jagermeister. Financial details were not disclosed.

PRK Partners has successfully represented RPG Industries in a first instance court in Ostrava against a claim for damages brought by ARC Equity Services against RPG and Residomo relating to an apartment and its owner.

PRK Partners, working alongside lead counsel Freshfields, has advised RWE on Czech aspects of its acquisition of 50.05% of the shares in Innogy Grid Holding. Czech counsel for the seller, Innogy SE, was Havel & Partners.

PRK Partners has advised Martin Barry, the developer of the Manifesto marketplace in Prague, on the acquisition of a minority equity stake in Manifesto by the Rockaway Group. The transaction closed in February 2019, and financial details were not disclosed.

Less than 30 years after the wholescale introduction of computers into the legal profession, we find ourselves on the brink of a 4th industrial revolution. Today, we have cars that can drive on their own, we can print almost anything (including entire buildings and human body parts) on a 3D printer, and the Internet of Things is becoming a natural part of our everyday lives. All these tools are making our lives easier and more comfortable. And as the business world adapts to this new era, the legal profession obviously cannot stay behind.

Wilsons has advised European warehouse developer P3 on its sale of Green Tower, an office building located in Prague, to a private Czech investor. PRK Partners advised the buyer on the deal, which was completed in December 2018. The price was not disclosed.

PRK Partners has assisted Moneta Money Bank, a.s., the fourth-largest banking institution in the Czech Republic, with respect to the relocation of its headquarters to new premises, covering 21,500 square meters in BB Centrum’s Building A in Prague.

PRK Partners has assisted Publicis Groupe with its acquisition of Kindred Group, the largest independent digital communications group in the Czech Republic from CEO and founder Michal Nydrle and other investors. Havel & Partners advised the sellers on the deal, which closed on September 27, 2018.

PRK Partners has advised EuroManganese Inc. in connection with the initial public offering and listing of its shares in Canada and Australia.

PRK Partners has advised the Czech Republic's UDI CEE a.s. in the process of listing of its shares on the non-regulated Start market organized by the Prague Stock Exchange.