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- The Legal 500 United Kingdom Awards 2013
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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.
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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
Studio Legale Villata, Degli Esposti, Perfetti e Associati is pleased to announce the forthcoming publication of the sixth edition of Professor Villata's monograph entitled " Pubblici Servizi. Discussioni e Problemi " (Public Services. Issues and Debates) and issued by the law publishing house Giuffrè. The volume consists of an in-depth analysis of the much-discussed subject of public services and provides a remarkable intake on the matter from an exceedingly knowledgeable scholar, in light of recent developments in legislation and jurisprudence.
Budidjaja & Associates becomes the Indonesian law firm member of TAGLaw, an international alliance of independent law firms
AstapovLawyers has been recognized TOP-3 band in corporate/M&A and tax in Ukraine according to the latest survey 2014 by KyivPost, a well-known English speaking edition. The survey findings are based on a peer review conducted by the Kyiv Post in August of 90 law firms.
The Administrative Court of Hamburg decided on 27 August 2014 that Uber, a provider for a smartphone-app for on-demand transportation services, may continue providing its services in Hamburg. With its decision, the Administrative Court ordered the suspensive effect of the objection against the prohibition order of the city of Hamburg. The decision of the Hamburg authorities were formally unlawful as the traffic authorities were not the responsible authority and the prohibition order could not be based on the Passenger Transportation Act (Personenbeförderungsgesetz).
The Companies (Guernsey) Law, 2008 (" Companies Law ") provides for companies, protected cell companies (" PCCs "), incorporated cell companies (" ICCs ") and cells of PCCs and ICCs to be placed into administration and for an administrator to be appointed to manage that entity's affairs whilst the administration order remains in force.- Ogier
A company incorporated and existing in one jurisdiction may consider it desirable to continue as a company existing elsewhere for a variety of reasons including, for example: to be in a time zone closer to investors; to conduct its affairs in a manner more familiar to its stakeholders; to benefit from a more modern and/or flexible statutory or regulatory environment and/or a more appropriate tax framework.- Ogier
Kim & Chang has been named as the "Best Law Firm for Asset Management" from AsianInvestor Korea Fund Awards 2014 , hosted by AsianInvestor affiliated with Haymarket Media Ltd, a global media company. It is the fourth consecutive year that the firm has been honored for this award.
Kim & Chang has been selected for the "Legal Innovation in Real Estate Finance" award for providing exceptional legal advice in connection with the case involving KHFC's issuance of two different types of covered bonds in the first-ever Financial Times (FT) Asia-Pacific Innovative Lawyers Awards 2014 .
Kim & Chang has been recognized as one of the world's top 150 law firms in the Who's Who Legal 100 (2014 edition, 3rd edition) , published by Who's Who Legal that is an international publication affiliated with London-based publishing group, Law Business Research. Kim & Chang has been the only law firm in Korea to be included in the list for three consecutive years.