Category: Czech Republic

  • Wilsons and PRK Partners Asvise on Sale of Green Tower in Prague

    Wilsons and PRK Partners Asvise on Sale of Green Tower in Prague

    Wilsons has advised European warehouse developer P3 on its sale of Green Tower, an office building located in Prague, to a private Czech investor. PRK Partners advised the buyer on the deal, which was completed in December 2018. The price was not disclosed.

    Green Tower, originally developed by VGP, consists of approximately 3,600 square meters of office and retail premises. According to PRK Partners, “Green Tower enjoys full occupation, accommodating tenants such as Mountfield, ABRA, and MK Keramika.”

    The Wilsons team was led by Partner Daniel Navratil. 

    The PRK Partners team was led by Partner Roman Pecenka.

  • PRK Partners Advises Moneta Money Bank on Move to New Premises in Prague

    PRK Partners Advises Moneta Money Bank on Move to New Premises in Prague

    PRK Partners has assisted Moneta Money Bank, a.s., the fourth-largest banking institution in the Czech Republic, with respect to the relocation of its headquarters to new premises, covering 21,500 square meters in BB Centrum’s Building A in Prague.

    The BB Centrum Building A is owned by the Passerinvest Group investment and development company.

    PRK Partners describes the transaction as “an unusual transaction on the Czech market, where the tenant moved into a completely refurbished building rather than to new premises.” 

    According to the firm, its work included, “in particular, full renegotiation of both the future lease agreement and lease agreement, preparation of contracts for work with the client’s suppliers, and legal support in all leasing and construction-related aspects of this complex transaction.” The firm reports that “the transaction was successfully completed in December 2018 with Moneta Money Bank’s move to the newly-refurbished premises.”

    The PRK Partners team was led by Partner Roman Pecenka.

  • Siroky Zrzavecky Open for Business in Prague

    Siroky Zrzavecky Open for Business in Prague

    On January 1, 2019 the new Siroky Zrzavecky law firm opened its doors at the Mysak Gallery in the center of Prague, led by founding partners Pavel Siroky and Jan Zrzavecky.

    Before launching his new firm Siroky was Partner at the Prague office of CHSH Kalis Partners, and Jan Zrzavecky was Partner at Hajek Zrzavecky. According to a press release issued by the new firm, “the two aforesaid founders were in talks since September 2018 over a deal that would create a mid-size Czech law firm with approximately 20 lawyers.”

    In addition, according to the press release, Siroky Zrzavecky “has experienced lawyers who have gained years of experience at renowned Czech and international law offices. The team of lawyers provides the clients with an extensive practice in the widest spectrum of law. The core of legal practice of Sirocky Zrzavecky is Mergers & Acquisitions, business law, and litigation.”

  • Ivana Fara Becomes CE Head of Legal for Product at Tesco

    Ivana Fara Becomes CE Head of Legal for Product at Tesco

    Ivana Fara has become CE Head of Legal for Product at global retailer Tesco.

    Fara first joined Tesco in 2017 after spending almost ten years in the Corporate practice of CMS in Prague. At Tesco she was initially in charge of the Procurement and Finance Legal team. As CE Head of Legal for Product, she is responsible for taking care of relationships with suppliers across Tesco’s CE presence (which includes the Czech Republic, Slovakia, Hungary and Poland).

    “I am extremely pleased to get the opportunity to lead a team of very knowledgeable and enthusiastic lawyers across four countries,” said Fara. “The retail environment is heavily regulated and we are committed to providing high-quality advice to our internal stakeholders in commercial relationships and on compliance and competition aspects in this area.”

  • Dvorak Hager & Partners Advises Triyaka Investment Group on Acquisition of Brno Shopping Center

    Dvorak Hager & Partners Advises Triyaka Investment Group on Acquisition of Brno Shopping Center

    Dvorak Hager & Partners has represented investment and real estate group Trikaya in its acquisition of Bainbridge Czech Republic Brno Videnska Hyper s.r.o. from LDV Management Bainbridge Holding S.C.A. Dentons reportedly advised the sellers on the deal.

    Bainbridge Czech Republic Brno Videnska Hyper s.r.o. is the co-owner of the Futurum shopping center in Brno.

    The Dvorak Hager & Partners team was led by Partner Lukas Zahradka, assisted by attorney Dominika Vesela.

  • Kinstellar Advises Helaba and CSOB on Refinancing of Forum Nova Karolina in Connection with Sale

    Kinstellar Advises Helaba and CSOB on Refinancing of Forum Nova Karolina in Connection with Sale

    Kinstellar has advised Helaba and CSOB on the refinancing of Forum Nova Karolina in connection with its acquisition by CS Bemovitostni Fund, managed by Reico Investicni Spolecnost Ceske Sporitelny. 

    According to Kinstellar, this was “the largest single asset real estate deal in the Czech Republic, valued more than CZK 5.4 billion.”

    The six-storey building is currently 94 percent leased, providing space for 200 shops, hypermarket, fitness center, cinema, and children’s club. Among the featured brands are H&M, Marks & Spencer, Intersport, New Yorker, and Peek & Cloppenburg.  

    The Kinstellar team was led by Partner Klara Stepankova and managing Associate Leo Javorek. 

    Kinstellar did not reply to our inquiries about the deal. 

  • Havel & Partners ad Dvorak Hager & Partners Advise on Sale of Frontier Technologies

    Havel & Partners ad Dvorak Hager & Partners Advise on Sale of Frontier Technologies

    Havel & Partners has advised PREmereni, a.s., a part of the PRE Group, on its acquisition of Frontier Technologies, s.r.o. Dvorak Hager & Partners advised the unidentified seller.

    Frontier Technologies provides energy-saving artificial lighting systems in the Czech Republic and Slovakia.

    The Havel & partners team included Partner Jan Frey, Senior Associate Robert Porubsky, and Associate Ivo Skolil. 

    The Dvorak Hager & Partners team was led by Partner Stanislav Dvorak and Senior Attorney Marek Bomba.

  • PRK Partners and Havel & Partners Advise on Publicis Groupe Acquisition of Kindred Group

    PRK Partners and Havel & Partners Advise on Publicis Groupe Acquisition of Kindred Group

    PRK Partners has assisted Publicis Groupe with its acquisition of Kindred Group, the largest independent digital communications group in the Czech Republic from CEO and founder Michal Nydrle and other investors. Havel & Partners advised the sellers on the deal, which closed on September 27, 2018.

    The Kindred Group was founded in 2013 by Michal Nydrle and a group of partners as a collective of independent specialized agencies that includes digital agencies Nydrle and Inspiro and media agencies Red Media and Go.Direct. According to PRK Partners, “in the last five years, it has become the Czech Republic’s largest independent digital communications company by revenue. The Kindred Group works with a wide range of international and local clients including Moneta Money Bank, Unilever, Karlovarske Mineralni Vody, Vodafone, Zoot, Remy Cointreau, Ceskoslovenska Obchodni Banka, Huawei, and Makro Cash and Carry.”

    “The acquisition will see the integration of Kindred Group’s agencies into the Publicis Groupe agency portfolio in Czech Republic alongside Zenith, Starcom, Leo Burnett, Saatchi & Saatchi, Publicis, MSL, Performics, Blue 449, Starlink, and Newcast,” PRK Partners reports. “With the Kindred Group coming on board, Publicis Groupe Czech Republic will be a 400-employee strong team offering end-to-end services through the Power of One, from comprehensive data analytic services, technological implementations, technology consulting, to programmatic media buying and data-driven creativity.”

    The PRK team included Partner Radan Kubr and Senior Associate Jan Varecha.

    The Havel & Partners team included Partner Vaclav Audes, Senior Associate Silvie Kiraly, and Associate and Sona Karbanova Schweizer. 

  • The Buzz in the Czech Republic: Interview with Sylvie Sobolova of KSB

    The Buzz in the Czech Republic: Interview with Sylvie Sobolova of KSB

    Recently-introduced reforms to the Czech Code of Civil Procedure, the country’s new Act on Insurance Distribution, and the Istanbul Convention on Domestic Violence are among the topics Czech lawyers are most commonly discussing at the moment, according to Kocian Solc Balastik Partner Sylvie Sobolova.

    “Actually, the new Civil Code is approaching its fifth anniversary at the end of this year,” Sobolova says, “but despite the fact that the new private law was introduced quite a long time ago, we haven’t reformed the Civil Procedure Code yet, which comes from the mid-60s.” The working group of the new procedural code recently released the first outline of principles for the proposed code, resulting in “lively discussions,” and, ultimately, a rejection by judges. As the proposal was prepared by academics without involvement of the judges, she says, the proposal was somewhat controversial. “If enforced, the new code will require that parties be represented by advocates, and judges are afraid that this will be too expensive for many people,” she explains. On the other hand, she says, the proposal might reflect an attempt to ease the burden on courts of needing to make sure parties are informed of and truly understand their rights and obligations.

    The proposal also changes the current system of remedies in the Czech court system. According to Sobolova, while currently the appeal serves as a regular remedy, the cassation appeal to the Supreme Court is limited to issues of law and the Supreme Court does not normally hold hearings. She explains that, in addition, “the court’s judgement and decision become effective after the second instance, so when dealing with cassation appeals you usually already have an enforced or enforceable judgement of the higher or regional court.” The reforms would change this as by making the cassation appeal a regular remedy, Sobolova says, though she admits that she’s not convinced it’s necessary, because parties already have two instances before a case gets to Supreme Court.

    Sobolova says that a Class Actions bill is going to be introduced in the Czech Republic, “We already know the principles it should be based on,” she says, noting that the new legal framework provides for combination of opt-in and opt-out mechanisms depending on the value of the dispute, among other things. Another bill, the Act on Insurance Distribution, came into effect on December 1. Sobolova says the act underwent significant changes to reach its final form.  “It reduces the number of categories of insurance intermediaries, unifies the qualification requirements, and introduces new rules, which aim to protect consumers and other customers.”

    Finally, she brings up the question of ratifying the Council of Europe Convention on preventing and combating violence against women and domestic violence (known as “The Istanbul Convention.”) “We are having a very emotional public debate on whether the Czech Republic should ratify the treaty or not, with many stakeholders involved,” she explains. “Many say ratification is unnecessary because there are already sufficient measures in our domestic law.” She adds that the Czech Bar Association, for one, believes that the Convention interferes with the right of confidentiality between clients and advocates. Her first impression upon reading the treaty was positive, she says, but she also adds that, “I’m a bit afraid that if applied mechanically it might introduce a new kind of discrimination.” Yet she admits it is difficult to make a judgment without a detailed analysis. 

  • A Bridge, Not a Wall: Interview with ECCE Founder Tomas Hulle

    The Prague-based European Centre for Career Education focuses on providing students a practical and complimentary education, focusing on kinds of practical experience and inspiration they rarely receive in their university studies. After they complete the program, ECCE helps participants obtain useful internships with companies such as Siemens, Unicredit, Exxon Mobile, T-Mobile, and Lego, and with law firms including DLA Piper, Clifford Chance, Allen & Overy, and Dentons.

    The ECCE is the brainchild of Tomas Hulle, himself a Czech lawyer with many years of experience working both for regional and international law firms such as Schoenherr and Lovells (now Hogan Lovells) and at publications like the Czech Republic’s Economic Daily and The Economist.

    We reached out to Tomas Hulle to learn more about the ECCE, which he describes as “the largest legal education program between Europe and China.”

    CEELM: First, give us a little information about your personal background, and how/why you decided to start the ECCE.

    Tomas: I was very lucky to meet with people who gave me the opportunity to try almost all the professions which a person with a law degree can pursue. I worked with large global and small domestic law firms, with a leading business newspaper and magazine in my country, experienced the United Nations through expert groups, co-authored several books, and was in charge of a small investment firm. Moreover, I had the pleasure of speaking at many of the world’s best universities (including Oxford, Peking University, Tsinghua, Arizona State, and the London School of Economics). This wide-ranging experience allowed me to see what was wrong in these sectors, and two years ago I had the idea of establishing the ECCE to address the huge gap between academia and real life. I realized it is not just a local problem, but a global one. Connections from the past meant that companies trusted me and helped me identify and successfully convince true global leaders from various sectors to get on board. 

    CEELM: At least initially, the program focused primarily on China and Chinese students, is that right? 

    Tomas: Yes, that’s correct. Up until last year, we were working only with Chinese students. Even this year, approximately 75 percent of our students are from China. Over time, I would like to see that number stabilize at approximately 30-40 percent – as the Centre grows and expands – but with that percentage coming from a larger total number of Chinese students. To simplify it even more: ECCE is the largest legal education program between Europe and China in terms of the total number of students and the number of schools involved. 

    CEELM: How does the program work?

    Tomas: At the moment we are running three programs – in law, business, and architecture – and every year through discussion with our partner firms we decide what the key areas for young graduates to master are – not for professors and their research interests, but for firms moving the industry. We select 30 of these topics and find speakers who are involved with them in their daily life. After this, all of our students are allocated to our partner firms for one month internships to see market leaders and learn directly from them about what the industry really looks like. The period is realistically too short to expect it to result in an immediate improvement of student skills – students will have their entire lives to do this – but it does provide them with valuable experience and inspiration. 

    CEELM: What are the benefits of it? What do participants gain as a result?

    Tomas: They gain a better understanding of the industry. They increase their job prospects both in terms of overall employability and in finding positions much more closely tailored to their individual preferences and profiles. They will not learn about the industry from movies and professors who never personally experienced it, but from people who have spent their entire lives working within it. We open their eyes to their future. This is also the reason why we have been so successful in China: they simply appreciate the quality. To my understanding, there is no larger educational project in law in between China and the EU.  

    CEELM: What about the instructors? How are they selected, and why do they choose to participate?

    Tomas: Everything is about finding people who are either inspirational as speakers or people who can deliver experience from preselected areas – and ideally both. The greatest thing is that we can easily listen to the feedback of our students and every year modify the selection. One of the biggest advantages of ECCE is that we know our community of instructors as well as partner companies very well and can easily decide whom to engage. And why do they do it? They know that it is not only important for their reputation and that of the companies and firms they work within, but that it is at the same time the only way forward. Without doing it, education will remain irrelevant. Who else should do it if not leading firms in the region? Nevertheless, I also know that some instructors do it just because they see the strength of ECCE connectivity and how much it can help them with their own business. 

    CEELM: Has it been successful, and is it growing? What kind of feedback are you getting?

    Tomas: Only positive. In two years, ECCE has grown from nothing into a widely-recognized and globally unique service provider. Our portfolio of partners is without a doubt one of our key distinguishing factors and we are also very proud to see that it brings concrete results in the form of increased business or HR or reputational. At the same time, our partners also believe in our vision of practical education and the need to engage players from the field in legal education. It is basically win-win for both parties – both partners and students. This year we are also launching an alumni program. All of this year’s students have applied for it and would like to help ECCE with its growth. This is without a doubt something only rarely seen at universities. I can hardly imagine a better indication that we are doing something right than receiving this direct feedback from students. 

    CEELM: What’s next for ECCE?

    Tomas: We are going through a very dynamic period. Our expansion – we are opening programs in China and the United States – is already on the way. We intend to cover eight key business global centers and regions before the end of 2021 (adding New York, San Francisco, Singapore, London, Dubai, Sydney, and Shanghai to our existing coverage of Continental Europe from Prague). In 2019, we plan to open only New York and Warsaw, to make sure that our growth will not be too fast. We also intend to add new programs, such as IT or design. In addition, we have also started to develop new programs for already-successful professionals and to develop some other new projects which will be tested in 2019. Simply, our “next” is about staying as focused on best quality and innovation as we are now.

    No matter what, we want to focus on both of our pillars: education and community growth. Without market-leading firms, it would not be possible to deliver world class practical education. We want to make sure that we will bring more and more concrete business benefits to our partners and to deliver it without asking them for a single dollar (except their participation in preparing our students for their future careers). 

    CEELM: How should individuals interested in learning more about the program, either as students or instructors, contact you?

    Tomas: This is not rocket science; just write to the e-mail addresses on the ECCE website or contact us on LinkedIn. We will launch our new website in a few weeks, which will cover also expansion regions. My only two suggestions would be for partners not to be afraid to get in touch with us and for students to try and read information from our website before sending us questions. We will also put a special contact form for new partners on our website soon. Until now, we have been choosing the firms we wanted to partner with. Now we expect more proactivity from firms as well

    This Article was originally published in Issue 5.10 of the CEE Legal Matters Magazine. If you would like to receive a hard copy of the magazine, you can subscribe here.