The Czech Republic has been a key global entertainment industry player for decades – whether through the quality of its local film production services, or the country’s use as a filming location, or with respect to developing world-famous video games. Now, in order to respond to the constantly evolving entertainment industry, to strengthen the competitiveness of the Czech audiovisual market, and to ensure the country remains a priority destination for major players developing film, series and video game projects, the Czech incentive scheme has been overhauled by lawmakers.

Kocian Solc Balastik and Nitschneider & Partners have advised the Seyfor Group on its acquisition of NCC from its founders. Zahradnik reportedly advised the sellers.

Former Rowan Legal Lawyers Lucie Kacerova and Jan Mekota have joined forces to establish Kacerova Mekota Advokati in Prague.

Filing a claim in insolvency proceedings may be the only way for creditors to recover at least part of the amount they are owed. In the Czech legal system, however, creditors face an understated but significant risk: if they overstate the amount of their claim, not only do they risk having it disregarded but they may also be required to pay a penalty to the debtor’s estate. This provision, embedded in the Czech Insolvency Act, acts as a double-edged sword: while it aims to prevent unfounded claims and speculation in insolvency proceedings, it often deters legitimate creditors from fully asserting their claims. This financial penalty has no equivalent in other European countries. So, how can creditors avoid penalties, and what should they know before submitting a claim in insolvency proceedings?

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.

CEE Attorneys has advised on the sale of Data Force to Geetoo Group.

Former NGL Symbio alliance founding members Rowan Legal, Erdos Partners, Biris Goran, and HKV have announced a new set-up under the Horizons Alliance brand.

Former CTP Acting Group Head of Legal and Group Head of M&A Legal Kveta Vojtova and Head of M&A Michal Felcman have joined CPI Property Group as Group Head of M&A and Transaction Legal and Deputy COO and Group Head of M&A, respectively.

Havel & Partners has advised Rohlik Group on the formation of the EUR 120 million Rohlik Growth SICAV investment fund with the majority investor being Tomas Cupr and the remaining shares being held by JTFG Fund I SICAV from the J&T Group. Kocian Solc Balastik advised J&T Group.

The Czech Republic is struggling to implement the European SEVESO Directive into its legislation. Preventing the consequences of accidents in potentially hazardous companies, such as chemical plants, is thus in a state of emergency. After previous half-hearted solutions, however, the amendment that is being prepared by the Ministry of the Environment offers new hope.

White & Case has announced a new Local Partner hire in Prague as well as four new Local Partners in Prague and Warsaw as part of its latest promotion round.

White & Case has advised Energo-Pro Green Finance on its CZK 3.5 billion retail domestic offering of green notes due 2029 with J&T IB and Capital Markets as the arranger and J&T Banka and UniCredit Bank Czech Republic and Slovakia as the managers. A&O Shearman advised the joint lead managers.

Kocian Solc Balastik has advised Avant Loan Sicav on its first EU growth prospectus.

Dunovska & Partners has advised Aricoma on a parallel dual acquisition of IT companies TaxLabs from Synteca and Gist from individual sellers. Rowan Legal reportedly advised Synteca. Kaplan & Nohejl reportedly advised the sellers of Gist.

Havel & Partners has advised Amundi Czech Republic on the sale of a building in Prague's District 1 to Raiffeisen Realitni Fond, managed by Raiffeisen Investicni Spolecnost. OHBS reportedly advised the buyers.

If you manage an alternative fund under Section 15 of the Czech Act on Investment Companies and Investment Funds (ZISIF), you will need to comply with new legislation by 31 December 2024. Every manager will be required to amend the name of their company to include the term "venture capital entity", while the word "fund" must be removed.

On 18 November 2024, the new Product Liability Directive (the Directive) was published in the Official Journal of the EU (link). It replaces almost 40 years of legislation that was no longer relevant in the digital age, given the dynamic development of new technologies. What does it bring and what has changed? We have prepared a short summary for you.

CMS, working with Vedder Price, has advised Ceska Sporitelna and Ceskoslovenska Obchodni Banka on the financing for the Silon Group, including a sustainability-linked loan, which will be linked to the environmental goals of the entire group. Eversheds Sutherland advised the Silon Group.