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Legal market overview
The Czech market appears to be recovering from its recent downturns over the course of the eurozone crisis.
While activity in the M&A market as a whole is still low, the energy and the telecoms sector have seen some major transactions. In addition, a number of private Czech investors are concentrating their wealth into quasi private equity funds, and this trend is certainly offsetting the increasing number of foreign investors leaving the market. On the real estate side, the recovery is slow at best; certain segments of the market, such as office buildings, are saturated and investments are rare.
Elsewhere, lawyers have been kept busy with the numerous restructurings flowing from the difficult economic environment. The start-up industry is slowly gaining visibility, as the first venture capitalists exit from their investments. And a major change is happening in the private law arena, with the new Civil Code (introduced as of January 2014) creating significant demand for legal advice.
Among the law firms, the key international players are Allen & Overy, Baker & McKenzie, v.o.s., advokátní kancelár, Clifford Chance, White & Case (Europe) LLP, CMS, and Weil, Gotshal & Manges LLP s.r.o Advokatin Kancelar; and Kinstellar s.r.o advokátní kancelár, Havel, Holásek & Partners s.r.o. and Glatzová & Co., s.r.o. stand out among the local firms.
Legal Business: country analysis
Breaking new ground – advisers hope shale revolution can restart CEE market
Weighed down by political unrest and slowing economies, energy and infra projects look like one area to be driving
the CEE economy. Can the shale revolution power up
Click here to read the feature.
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Three new laws re-codifying Czech private law are set to change the country's current legal order entirely. The current order (i.e. Act No. 40/1964 Coll., Civil Code; Act No. 513/1991 Coll., Commercial Code; Act No. 97/1963 Coll., on International Private Law) will be abolished entirely and replaced with new laws of symbolic numbers: Act No. 89/21012 Coll., New Civil Code; Act No. 90/2012 Coll.; on Corporations; and Act No. 91/2012 Coll., on International Private Law. As one of the largest legal overhauls of the Czech Republic's laws in recent decades, this development is indeed an admirable achievement. Of course, nothing new comes into this world without difficulties.
Starting from 1 January 2013 the amendment to Act No. 406/2000 Coll., on Energy Management, as amended, has increased, to a significant extent, the obligations of developers, building owners, associations of housing unit owners and housing unit owners as well (i.e. owners of flats and non-residential premises) relating to the issue of so-called energy performance certificates. This instrument, which was first introduced in 2009 for new constructions or large scale reconstructions, should provide simple and transparent information about the energy consumption of a building by classifying it in a respective energy performance class, such asweknowit in the case of electrical appliances.
The Act No. 373/2011 Sb., on Specific Health Services, became effective on 1 April 2012.
On November 23 2012 a seminar on competition law enforcement in the energy sector held at the Energy Community Secretariat in Vienna saw the creation of the Energy Community Competition Network. Competition authorities from Albania, Bosnia Herzegovina, Croatia, Macedonia, Moldova, Montenegro, Serbia, Ukraine, Kosovo and Armenia, as well as representatives of the Energy Community Secretariat, signed a joint declaration on the etablishment of the network at the Energy Community.
The forthcoming amendment to the Act on the Protection of Competition will make several changes to Competition Authority practices. Among other things, the amendment will introduce prioritisation into its practices, allowing the authority to decide not to initiate administrative proceedings following certain alleged breaches of the act where those breaches have a minor effect on competition. The authority will also be able to legally prioritise the investigation of some alleged infringements over others.
The construction of new buildings or the reconstruction of existing buildings, especially in dense urban areas, is almost always connected with the risk of causing damage to third parties. It is therefore important for the builder (contractor or property developer) as well as subjects exposed to potential damages (especially owners and users of adjoining buildings) to know the statutory conditions of liability for damages and related rights and obligations(1).
This guide provides corporate counsel and international practitioners with a comprehensive worldwide legal analysis of the laws and regulations of mergers and acquisitions. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Mergers & Acquisitions; published by Global Legal Group Ltd, London. www.iclg.co.uk.
This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of real estate. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Real Estate; published by Global Legal Group Ltd, London. www.iclg.co.uk )
by Kristýna Oberfalcerová, Attorney-at-Law, Randa Havel Legal
Ekaterina Ilina, an associate of DS Law.Attorneys, was ranked in Top-4 of the leading associates in St. Petersburg according to the rating of the newspaper “Delovou Peterburg” in the nomination 'Associate of Winter Season 2014/15'.- DS Law
Ogier is leading offshore adviser to European IPOs
Growth in BVI Approved Manager licences in 2014
Ogier shortlisted as Law Firm of the Year, EMEA, in Citywealth Magic Circle Awards 2015
The CMS Bureau Francis Lefebvre Africa team advised the Amethis Finance investment fund and Moroccan group Label’Vie on the acquisition of a stake in Compagnie de Distribution de Côte d’Ivoire (CDCI), the number two in food distribution in Côte d’Ivoire, with 127 shops around the country.- CMS
On March 16, 2015 the Regional Court in Warsaw in a case brought by Konrad Kornatowski (the former Police Commander in Chief) against Jan Rokita (a well-known Polish politician, the former member of the Polish Parliament) for payment of PLN 100,000 as compensation, dismissed the action in full and awarded against the Plaintiff to the benefit of the Defendant the amount of PLN 3,617 as reimbursement of costs of the proceedings.
The international Chambers Global 2015 rankings have again hailed the Tax Practice of Pepeliaev Group and its Managing Partner Sergey Pepeliaev the best in Russia in tax litigation (band 1 and Star Individuals).
A delegation from Pepeliaev Group recently made a business visit to London. During the trip, the firm's lawyers took part in seminars organised jointly with leading British law firms.