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Legal market overview
The Czech market remains sluggish, largely due to insecurity in the eurozone instilling caution in investors and financial institutions. With the M&A market having slowed, some law firms have repositioned, with some using the downturn to build up their insolvency, refinancing, employment, and competition capabilities, and others working on mandates involving other jurisdictions.
One area of growth has been the gradual re-emergence of private equity in the region as a result of strong measures by the European Central Bank. Lawyers also report an increase in regulatory advice, as a result of a tougher regulatory environment. The projects sector continues to provide instructions for practices with the requisite expertise.
Of the large local firms, Glatzová & Co., s.r.o., Havel, Holásek & Partners s.r.o., Kocián Solc Balastík, and PRK Partners are highly recommended. The emergence of spin-off firms is another market trend: recent examples include Bányaiová Vožehová, s.r.o., advokátní kancelá, Dunovská & Partners, CHSH Kalis & Partners s.r.o., Kotrlik Bourgeault Andrusko, and Tomaier Legal advokátní kancelár s.r.o., all of which have founding partners with superb reputations. Among the foreign firms, Allen & Overy, Baker & McKenzie, v.o.s., advokátní kancelár, CMS, Clifford Chance, Weil, Gotshal & Manges, and White & Case continue to set the pace in the region.