An interview with Tristan O’Connor of CMS, about his path from Australia to Czech Republic.
On May 25, 2018, the personal data protection rules in the Czech Republic were substantially changed. Regulation (EU) 2016/679 of the European Parliament and of the Council – the General Data Protection Regulation, or GDPR – became directly applicable law in all EU Member States, after a two-year transition period. Thus, the principles of personal data protection in the Czech Republic, the rights, duties, and processing requirements are regulated primarily by the GDPR.
The pandemic has transformed the Czech real estate market. While the residential and logistics real estate markets strengthened, the retail, tourism, and hotel sectors are among the worst affected. However, interest in investing in real estate has not waned as, in uncertain times, the purchase of real estate represents a safe place to park one’s funds and watch them appreciate. There has been no significant decline in property prices, even in the case of commercial real estate, as some investors had anticipated. The Czech market still lacks enough quality investment opportunities. The clear winner of this situation is the logistics segment. Our Prague office assisted in several transactions in the logistics segment, the largest being the purchase of 130 hectares of land intended for warehouse development, at one of the exits of the western D5 motorway. According to some real estate players, we can also expect increased interest in the industrial segment soon, including sale & leaseback transactions.
Thinking about my journey and experiences as an expat lawyer in the Czech Republic, I vividly recall one of the early client meetings I had fresh off the boat in the mid-1990s. A CEE client came to the office with a “suitcase” telephone … an old school plastic telephone with a rotary dial and a long antenna, encased in an MDF “custom telecommunications suitcase” which he proudly lugged onto the desk … (He was also wearing one of those plum-colored shiny polyester suits so beloved by New Europe Entrepreneurs in the 90s). Note to incredulous young lawyers reading this: in those days there were no mobile phones (The horror!).
On February 24, 2021, CEE Legal Matters reported that Russia’s Intellectual Capital law firm had persuaded the Moscow Arbitrazh Court that a requirement that participants in a Rosatom tender for legal counsel be ranked in Legal 500 and Chambers and Partners was illegal and violated Russian competition law. CEELM spoke with several lawyers in the market to learn more about the matter.
In his recent Guest Editorial EY’s Georgy Kovalenko spoke of a rising trend of large companies building up their in-house legal functions to the point where they will not only compete with law firms in terms of catering to their internal clients but will also slowly branch out into offering their services to other companies. CEE Legal Matters spoke with Eugenia Volkoskaya, General Manager of Gazpromneft Expert Solutions – an enterprise that, while not there just yet, seems poised to do exactly what Kovalenko was foreseeing.
Halfway through the third quarter, 2021 is proving to be a good year for the Russian market, both in terms of M&A activity and a frothy IPO market. This uptick in part reflects unleashing the demand pent up over the COVID-19 recession (although Russia continues to struggle with the pandemic), as well as the upturn in global energy prices (given the oil & gas sector continues to lubricate the Russian economy).
On June 15, 2021, Hungary passed legislation that bans the dissemination of content in schools deemed to promote homosexuality and gender change. Dubbed by many as simply the “Anti-LGBTQ+ Law,” it has wide-ranging implications – even leaving social issues / social impact aside. CEE Legal Matters spoke with several Hungarian lawyers to discuss the law’s business implications and the impact it had on law firms’ work.
In the late Summer of 1984, while hanging out in Bucharest one evening, a university friend and I decided (with the help of some local red wine) to go “look for Dracula.” Full of adventure and certainly educational, the experience was not a positive one. Due to the harsh policies of the Ceausescu regime at the time, Romania was a dark place (there were literally few if any lights during the evenings), with little food to eat (even for foreigners like us), and a local population who would rarely, if ever, talk to us (unbeknownst to us at the time, the Romanian secret police, the Securitate, required anyone who had contact with a foreigner to report the interaction – needless to say, this was not conducive to long and meaningful conversations).