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).

Glatzova & Co has helped Winstor Investicni Spolecnost, a manager and administrator of investment funds, get its investment operating license extended by the Central Bank of the Czech Republic.

Why is a whistleblowing system necessary and how can it help you save your good reputation, organization, investments, and even your freedom?

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.

Interview with the Partners of the New NGL Symbio Alliance.

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.

Kocian Solc Balastic has advised Solitea, which develops business, accounting, and personnel systems, on the acquisition of the IT Services division of Czech company AspectWorks. Solo practitioner Marek Hoskovec advised the sellers on the deal. 

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.

Havel & Partners has advised D&FG Sumava I s.r.o. on the development and subsequent CZK 220 million sale of three buildings of the Sumavske Strane Project to over 70 individual buyers.

Allen & Overy has advised W.A.G. Payment Solutions on an unspecified investment in the Netherlands-based Last Mile Solutions. Nordbruis Clement reportedly advised the Last Mile Solutions on the deal.

Allen & Overy’s Prague office has advised the Ball Corporation on its acquisition of land for the planned EUR 170 million construction of a manufacturing plant in the Borske Terasy industrial park located in Pilsen.

Glatzova & Co. has helped Natland Bonds set up a bond program with the maximum nominal value of issued and outstanding bonds of CZK 1 billion.

Kinstellar has helped the Czech Banking Credit Bureau with an audit of its personal data processing activities, which the bureau was carrying out as the data processor of the Client Information Bank Register.

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").

Dentons has advised automotive supplier Brandl Industries on the sale of its operating subsidiaries in the Czech Republic and Romania and its German management service company to International Alexander Holding. Financial details were not disclosed.

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.