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The Office for Personal Data Protection has released an inspection plan for the year 2020, which announces that this year they aim at intensively focusing on cookie use and plan to start 8 inspections at once that are intended to check cookie use. Yet, cookies are also the subject of interest for some other inspection offices that have made numerous statements about the use of cookies. While in the rest of the EU, users’ consent is required before storing cookies (the opt-in principle), according to the current Czech legislation embedded in Act N. 127/2005 Coll., on Electronic Communications, cookies can be used until the user says something (opt-out principle).

In the Czech Republic, persons who undergo Covid-19 vaccination have been given the opportunity to claim financial compensation from the state if the vaccination (or, more precisely, the medicinal product containing a vaccine) causes harm. The Czech Parliament adopted Act No. 569/2020 Sb., on the Distribution of Medicinal Products Containing a Vaccine for Covid-19 Vaccination and on Compensation for Harm Caused to Those Vaccinated by These Medicinal Products (“Act No. 569/2020 Sb.”), which allows such compensation. According to the explanatory memorandum, this measure aims to “facilitate compensation of those who get vaccinated if they are harmed by the vaccination, thereby also indirectly promoting interest in Covid-19 vaccination.”

On January 29, 2020, CEE Legal Matters reported that BBH had advised the Czech-Moravian Development Bank on the launch of its IPO Fund and signing of a cooperation agreement with the Prague Stock Exchange to support new entities wishing to list on its START market. CEEIHM spoke with Martin Potucek, Chief Executive Officer at Czech-Moravian Development Bank, to learn more about the matter.

Czech corporate law has changed significantly over these past few years. In 2014, the Act on Corporations replaced the Commercial Code that had been in place since 1991. On January 1, 2021, an additional amendment to the Act on Corporations (the “Amendment”) will go into effect.

White & Case has advised CTP B.V. on the latest drawdown of EUR 500 million 0.750% green bonds due 2027 under the Euro Medium Term Note Program, which are admitted to trading on the Global Exchange Market of Euronext Dublin. De Brauw Blackstone Westbroek advised CTP as to Dutch law matter.

Schoenherr has advised Raiffeisen Bank International AG and Raiffeisenbank a.s. on the acquisition of Akcenta CZ a.s., a CEE/SEE provider of FX and payment services to European SMEs and high net worth individuals, from Akcenta Group SE and Milan Lacina. Tarpan Legal advised the sellers on the transaction, which remains contingent on regulatory approval.

The President of the Czech Republic signed the Act on Foreign Investment (“FDI Act”), which will take effect as of May 1, 2021. The Act follows the EU legislative framework on the examination of selected foreign investments for security reasons given by the Regulation No. (EU) 2019/452. The FDI Act introduces the obligation for foreign investors from countries outside the EU, investing in strategic sectors of the Czech economy, to obtain prior clearance from the Ministry of Industry and Trade (the "Ministry").

Austrian lawyer Josef Holzschuster will be relocating from Budapest to Amsterdam, having been appointed Head of Legal, Markets DA at Philips, in which capacity he will lead the worldwide Legal Team for the Philips Domestic Appliances business, reporting to the General Counsel for DA, also located in Amsterdam.

Czech Republic Knowledge Partner

HAVEL & PARTNERS, attorneys-at-law, with offices in Prague, Brno, Bratislava, Pilsen, Olomouc, and Ostrava, has a team of 220 lawyers, tax advisors and 500 employees in total, is the largest independent law firm in Central Europe.

Our clients include large international companies, leading Czech and Slovak firms, including strategic state-owned companies and public sector authorities, as well as medium-size businesses, individual entrepreneurs, and investors. We advise approximately 100 of the Fortune 500 companies, and almost 50 of the Czech Top 100 companies. HAVEL & PARTNERS currently provides its services to a total of 2,000 clients. We have the most comprehensive international support available to both Czech and Slovak law firms. We provide legal and tax advice in 12 world languages in more than 90 countries around the globe. Up to 70 % of the transactions we deal with involve an international aspect.

HAVEL & PARTNERS was named the best law firm operating in the Czech Republic by the prestigious British rating agencies Chambers and Partners (2020) and Who’s Who Legal (2018, 2019). It is also the most successful law firm, providing the most comprehensive legal services in the Czech Republic and Slovakia, based on the total number of all nominations and awards in all years of the Law Firm of the Year awards. The firm became the absolute winner of this competition four times in the last six years, receiving the main award Domestic Law Firm of the Year in the Czech Republic (2015, 2017, 2018, 2020) and ranking as one of the most recommended law firms in all categories of law. Our company is also a three-time winner of the Law Firm of the Year award for Best Client Services (2015, 2016, 2019). In the field of M&A, HAVEL & PARTNERS is the best law firm in the Czech Republic based on the annual International Advisory Experts awards (2018, 2019). In Slovakia, it also won the prestigious global M&A Today Awards (2013–2018) for Mergers & Acquisitions six times in a row, and repeatedly won first place in the ranking by Lawyer International Legal 100 (2017, 2018). Prestigious international rating agencies EMIS DealWatch and Mergermarket have ranked HAVEL & PARTNERS among the leading law firms by the number of transactions completed in the entire CEE region since 2009. Based on annual awards of the Acquisition International magazine, HAVEL & PARTNERS has become the Law Firm of the Year 2019 in the M&A category in the CEE region.

Firm's website: https://www.havelpartners.cz/en/

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