PRK Partners has advised J&T Banka on a EUR 68 million loan granted to the Julius Meinl Living Group. Glatzova & Co reportedly advised the Julius Meinl Living Group.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With industry-specific software emerging left and right, the legal industry was not left behind. To explore some of the trends in this regard, we asked: What are some of the specific legal tech platforms you use?

Digitization is affecting many sectors and healthcare is no exception. It is a key tool for speeding up and streamlining processes that can significantly improve the quality and availability of medical care. In the Czech Republic, the overall level of digitization in healthcare is still low.

The Czech economy entered a deep slump in 2023 caused by the rather rare and unfortunate combination of negative economic and geopolitical factors, including one of the highest inflation rates in the EU, rising interest rates, high energy prices, a large public finance deficit, and the adverse impacts of the war in Ukraine. Altogether, these economic difficulties resulted not just in an economic recession but also adversely affected the Czech M&A market.

The annoying length of the construction permitting process in the Czech Republic became a notoriety. Thanks to this, the prices of new dwelling premises are sky-high, and foreign investors are leaving their projects because they are unable to plan their investment – a striking example of which is the recently abandoned Microsoft project of a new data center in Prague.

PRK Partners, working with Norton Rose Fulbright, has advised Euro Manganese on receiving funding from Orion Resource Partners for the development and construction of a manganese mining project in the Czech Republic.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As we bid farewell to 2023, this time around we turn our attention forward: What is your one main wish for 2024 and what do you see as the biggest potential risk?

The Czech Republic is marked by dynamic changes in the banking, finance, and technology sectors underpinned by the influence of ESG, compliance issues, and the impacts of global crises, according to PRK Partners Partner Jan Kohout, with the defense sector and strategic shifts in traditional industries making headlines as well.

Michal Sylla has been appointed to an Associate Partner position with PRK Partners in Prague.

PRK Partners has advised Affimed on its successful divestment of AbCheck to Flagship Pioneering company Ampersand Biomedicines.

PRK Partners has advised the Thomayer University Hospital in Prague on the development of its gender equality plan.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

The Czech Republic is one of the first countries to have commenced the implementation process of a top-up tax into the tax system. The Czech Top-Up Tax Act is a transposition of an EU Directive (Council Directive 2022/2523 of December 14, 2022) and is based on the OECD BEPS project Pillar Two initiative. It is definitely worth becoming acquainted with the basic principles of this new tax.

PRK Partners has advised Bezvavlasy on the acquisition of the Hair Servis group. Kinstellar advised the sellers.

PRK Partners Co-Head of Corporate and M&A Milan Sivy talks about the evolution of the practice and their role as legal advisors in the Czech Republic over the last 10 years.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Shifting our focus to the financial aspects of legal work, we asked: What percentage of your issued bills end up being overdue, what percentage end up never paid, and what is your firm’s/office’s standard methodology to handle both cases?

On September 12, 2023, the Czech Parliament adopted an amendment to the Labor Code, which will become effective already from October 1, 2023 (unfortunately, employers will have very limited time to prepare for the new regulation). The main purpose of the amendment is to implement the European directives on the work-life balance of parents and carers (No. 2019/1158) and on transparent and predictable working conditions (No. 2019/1152) which were to be implemented by member states in August 2022. But there are further changes that should address problems in the daily operation of employers.

Wardynski & Partners, working with Freshfields Bruckhaus Deringer, has advised the Bauer Media Group on the merger of its online comparison platform business with that of the Netrisk Group.