Category: Czech Republic

Havel & Partners has advised MTX Group on the development and construction of a solar and wind power project in Andalusia, Spain, developed by Aquila Capital.

Czech Republic-based MTX Group is a global technology consulting firm.

According to Havel & Partners, “based on an agreement between MTX Group and Aquila Capital, [MTX Group] acquired a 40% stake in the joint project. The project plans to develop nine power plants and battery storage facilities with a total installed capacity of 1,080 megawatts. Once completed, the project is expected to generate approximately 1.5 terawatt-hours of electricity annually, making it one of the largest of its kind in the Iberian Peninsula.”

The Havel & Partners team included Partners Petr Dohnal, Jiri Kunasek, and Filip Cabart, Counsel Pavel Ondrak, Managing Associate Stepan Cerny, Senior Associates Katerina Kabatova and Martin Rott, Associate Jakub Jires, Junior Associate Pavel Vana, and Legal Expert Ondrej Sykora.

Dunovska & Partners has promoted Vaclav Manek to Partner.

Manek first joined Dunovska & Partners in his student days as a Legal Assistant in 2014 when he spent more than two and a half years with the firm. He rejoined the firm in 2018, after completing his studies, and has been with Dunovska & Partners ever since.

His primary areas of expertise are banking and finance, corporate law and insolvency, and administrative and litigation law.

Clifford Chance has advised PPF Banka on financing Crestyl’s development of Zamecke Zahrady III and 33 residential homes.

PPF Banka is the hub of PPF Group’s financial activities. It provides financing for commercial and residential real estate and other development projects.

Crestyl is a real estate company developing multipurpose residential, retail, and commercial properties.

According to Clifford Chance, the properties are part of the Zamecke Zahrady neighborhood in Vysoky Ujezd, near Prague. 

The Clifford Chance team included Partner Milos Felgr, Senior Associate Hana Cekalova, and Junior Lawyers Ondrej Steco and Adam Fanta.

Clifford Chance could not provide additional information on the matter.

Kinstellar has advised Edwards Lifesciences on data protection legal matters via a secondment arrangement.

Edwards Lifesciences is an American medical technology company specializing in artificial heart valves and hemodynamic monitoring. 

The Kinstellar team included Partner Tomas Cihula, Managing Associate Petr Bratsky, and Junior Associate Simona Semanova.

Havel & Partners has advised the Sekyra Group on its sale of land plots in the Smichov city district of Prague to an SPV of Ceska Sporitelna. Wilsons reportedly advised Ceska Sporitelna.

The Sekyra Group is a property development company.

According to Havel & Partners, the land plots are intended for development which, among others, includes “the new headquarters of one of the Czechia´s largest banks, Ceska Sporitelna. The entire new residential and commercial district, which is to feature a robust infrastructure including a new primary school, hotel, car park, a number of shops, and several parks, is to be completed in 2032. Approximately 12,000 people will find employment or housing within this community.”

In 2023, Havel & Partners advised the Sekyra Group on its acquisition of land from Ceske Drahy (as reported by CEE Legal Matters on October 31, 2023).

The Havel & Partners team included Partner Martin Raz, Counsel Natalija Traurigova, and Associates Patrik Chrast and Jakub Jires.

Kocian Solc Balastik has advised Dagmar Havlova on the entry of BTL Healthcare Technologies as a new investor into Lucerna Palace. Dunovska & Partners reportedly advised BTL.

Lucerna Palace is an entertainment and shopping complex in the New Town quarter of Prague.

BTL Healthcare Technologies is a Czech Republic-based manufacturing company engaged in the production of medical and cosmetic products.

According to KSB, “as part of the newly created structure, Lucerna Palace was incorporated into Palac PL, in which BTL now holds a 75% stake, with the remaining quarter owned by Havlova.”

The KSB team included Partners Dagmar Dubecka and Martin Solc and Lawyer Ota Mach.

Editor’s Note: After this article was published Dunovska & Partners announced it advised BTL. The firm’s team included Partner David Urbanec, Attorney at Law Vaclav Manek, and Junior Associate Marketa Kolarikova.

Havel & Partners has promoted Jiri Kunasek to Equity Partner and Veronika Bocanova and Ivan Houfek to Partners.

Kunasek, who is a commercial and corporate law expert, joined Havel & Partners in 2017 and made Partner in 2023 (as reported by CEE Legal Matters on January 13, 2023). Before that, he spent a year and a half as a Legal Assistant with Cech Partners and, earlier, almost a year as a Legal Assistant with Rybar Soppe & Partneri. 

Bocanova, a family law expert, has been with the firm since 2021. Earlier, she spent 13 and a half years with Vych and Partners.

Houfek, a dispute resolution lawyer, has been with Havel & Partners since 2021. Before joining the firm, he spent five and a half years as a sole practitioner and, earlier, six years with Weil, Gotshal & Manges.

The round also saw 25 lawyers promoted to Counsels, Managing Associates, and Senior Associates.

“Midway through this year, we are promoting 28 lawyers internally,” said Managing Partner Jaroslav Havel. “All of them have demonstrated that they have excellent skills in dealing with the specific needs of clients, including in the context of their business, which we see as a key factor in the firm.”

With effect from 1 July 2024, the amendment to the Employment Act introduces several changes, particularly in the area of employment of foreigners. Below is a summary of the most important changes.

1. Posting foreign employees to the Czech Republic from other EU countries

The amendment aims to reduce the administrative burden on employers in the context of posting employees from other EU countries in the context of the so-called transnational provision of services.

The obligation to report the posting of these foreign employees to the Labour Office will apply with the State Labour Inspection Office.

The reporting will be done exclusively electronically via an information system and will be accompanied by the employment contract. Consequently, the employer will no longer be obliged to keep paper employment contracts at the workplace. The reporting will also include a specification of the form of posting of the employee.

2. Notification obligations of employers when employing foreigners

Information on the start of work of a foreigner in the territory of the Czech Republic, termination of employment or work performance and other information will now be delivered only by a data message to a data box or through the information system of the ministry. Please note that a message sent in the wrong format (e.g. pdf form used until now) will be disregarded.

3. New group of foreigners with free access to the labour market

Citizens of selected countries listed in a government decree will no longer need a work permit, blue card, employee card or intra-corporate transfer card.

Under the current version of the government decree, these countries will include Australia, Japan, Canada, South Korea, New Zealand, UK, USA, Singapore and Israel.

However, free access to the labour market does not provide these foreigners with the right to reside in the Czech Republic. It is will still be necessary to apply for a residence permit according to standard procedures (e.g. Schengen visa for employment purposes for stays of up to 3 months or non-dual employment card).

4. Cancelling of the labour market test also for employment cards

The amendment removes the general obligation to pass the so-called „labour market test“ (i.e. the 30-day period during which EU citizens can apply for a reported vacancy on a priority basis) also for blue cards which will allow foreigners to apply for an employment card immediately after the vacancy is published in the central register.

However, the labour market test can be carried out in case of high unemployment if there are enough suitable candidates.

By Radek Matou, Partner, and Ondrej Sudoma, Senior Associate, Eversheds Sutherland

Clifford Chance has advised Finep on the divestment of a part of Nova Elektra to AFI Europe.

According to Clifford Chance, the Nova Elektra project is a residential quarter transforming over 43,000 square meters of a former industrial and administrative area into an urban space. “The subject of the transaction were two residential buildings forming part of the Nova Elektra development consisting of 291 apartments and 309 parking spaces.”

Finep is a real estate developer with a 23-year history in the Czech real estate market. 

AFI Europe Czech Republic is an investor and developer in the area of commercial and residential real estate.

In 2023, Clifford Chance advised on Finep’s sale of the Harfa Project expansion (as reported by CEE Legal Matters on December 20, 2023).

The Clifford Chance team included Counsel Milan Rakosnik and Senior Associate Josef Lysonek.

Clifford Chance could not provide additional information on the matter.

A&O Shearman has advised joint lead managers Ceska Sporitelna, Komercni Banka, and UniCredit Bank Czech Republic and Slovakia on Ceske Drahy’s issuance of senior unsecured notes. White & Case advised Ceske Drahy.

Ceske Drahy is the largest Czech railway operator. The company is a successor of the Czechoslovak State Railways and was established in its current form in 2003. 

According to A&O Shearman, the notes will be issued in the total nominal amount of more than CZK 8 billion with a fixed interest rate of 5.5% per annum with a maturity of 5 years. “The offering was significantly oversubscribed whilst the total volume of orders from investors amounted to almost CZK 14 billion.” 

In 2021, A&O Shearman advised on Raiffeisenbank’s loan to Ceske Drahy (as reported by CEE Legal Matters on May 4, 2021).

The A&O Shearman team included Partner Petr Vybiral, Senior Associate Tomas Kafka, and Junior Lawyer Jan Tocik.

The White & Case team included Partner Petr Hudec, Associate Jan Vacula, and Legal Intern Josef Levy.