The relationship between the Czech Republic and Slovakia is forged on a shared history and close economic ties. As the two countries maintain strong trade relations and extensive cross-border business activities, legal firms have recognized the need to establish a presence in both jurisdictions. Havel & Partners Managing Partner Jaroslav Havel, BPV Braun Partners Managing Partner Arthur Braun, and Eversheds Sutherland Managing Partner Bernhard Hager talk about the ties that bind the two legal landscapes.

Cybersecurity is trending in Czechia again not only because of recent large-scale cyber-attacks targeting important institutions such as hospitals, the Czech public radio, or the national highway directorate (resulting in some of its systems being unavailable for several months) but also due to legislative developments. Specifically, cybersecurity is also making headlines as it is time for many Czech businesses to get ready for the NIS 2 Directive (Directive (EU) 2022/2555 of the European Parliament and of the Council of 14 December 2022 on measures for a high common level of cybersecurity across the Union).

After a delay of more than a year, an act on preventive restructuring (the "Act") implementing the EU directive on preventive restructuring frameworks finally became effective in the Czech Republic on 23 September 2023. The long-awaited Act introduces a brand-new legal tool preventing the insolvency of viable enterprises in temporary financial distress.

PRK Partners has advised RWE on the sale of its subsidiary RWE Gas Storage CZ to the CEPS state-owned electric power transmission system operator. EY Law reportedly advised CEPS.

Havel & Partners has advised Investown Technologies shareholder Ceska Sporitelna Seed Starter on the sale of a stake in the company to Finbus.

Glatzova & Co has advised SNP Invest on obtaining permission from the Czech National Bank to operate as a self-managed investment fund of qualified investors.

As the amendment is effective as early as 1 October 2023, we provide below an overview of the main changes, indicating the necessary or recommended steps for employers to be taken:

Former Briza & Trubac Partner Ondrej Hampl – together with former Rohlik Group Chief Legal Officer Ivo Hartmann and Attorneys-at-Law Jakub Kucera of Briza & Trubac, Ladislav Murin of Squire Patton Boggs, and Lukas Novopacky of Badokh – has launched the VIDD independent boutique law firm in Prague.

BBH has advised the Kaprain Group on its acquisition of a 53,000-square-meter brownfield site next to Prague's O2 arena.

Glatzova & Co. has advised the municipality of Poricany on the approximately CZK 160 million agreement with a Hecht Group project company for the sale of development land near the D11 highway. Baroch Sobota reportedly advised the Hecht Group.

With a delay of over a year, Czech Act no. 284/2023 on preventive restructuring implemented the EU Restructuring Directive 2019/1023 into Czech law with effect as of 23 September 2023. This publication explains some of the key choices made by the Czech Republic upon the Directive’s implementation.

Tomas Skoumal has been elected as the new Managing Partner of Baker McKenzie’s Prague office, taking over from Martin Hrodek.

Dentons has advised the CPI Property Group on its EUR 635 million three-year bridge loan from Santander, Societe Generale, Komercni Banka, Raiffeisen, SMBC, Barclays, and Erste Bank to replace the group's existing loans related to its recent acquisitions of Immofinanz and S Immo. Linklaters reportedly advised the banks.

Havel & Partners has advised the Czechoslovak Capital Partners investment group on the acquisition of five properties in Hradec Kralove.

Cobalt has advised Binalyze on its USD 19 million series A financing round with Molten Ventures, Cisco Investments, Citibank Ventures, and Deutsche Bank Corporate Venture Capital as well as existing investors Earlybird Digital East and OpenOcean. Ellex Raidla advised Molten Ventures on leading the round.

Clifford Chance has advised Vseobecna Uverova Banka on its EUR 500 million issuance of covered bonds that were subsequently listed on the Luxembourg Stock Exchange. Allen & Overy reportedly advised the managers handling the issuance.

Clifford Chance has advised Ceska Sporitelna and UniCredit Bank Czech Republic and Slovakia on their financing for the Oriens holding's Moravia Containers in relation to the acquisition of Steelmart. Havel & Partners advised the borrower.

A long-awaited amendment to the Czech Competition Act (Act) is now on the horizon as it was approved by the Chambers of Deputies and is ready for sign-off by the Senate and the president. Covering primarily the implementation of the ECN+ Directive, it also incorporates changes to the Act. At the same time, the Czech Competition Authority (CCA) has been updating its policies on compliance programs and vertical leniency. From this perspective, how the CCA treats vertical (distribution) agreements will probably change considerably.