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18.11.2020
News
Pro bono

Fundraising for the Good Will Committee – Olga Havel Foundation

30.10.2020
News
Competition

The European Commission has confirmed, on a preliminary basis, the complaint prepared by KŠB that there was an abuse of dominant position on the railway transport market in the Czech Republic

KŠB’s competition law team led by partner Pavel Dejl and other team members Sylvie Sobolová, Martin Vráb a Hana Dejlová was successful in representing the railway carrier LEO Express in a complaint filed against a dominant competitor on the Czech rail passenger transport market, České dráhy, a.s.
22.10.2020
News

Contract Competition 2020

8.10.2020
News
Financial services

KŠB advises J&T Banka on providing project financing to Julius Meinl Living Group for development of apartment hotel on Senovážné náměstí

KŠB’s team, led by Josef Kříž  in cooperation with Ota Mach and under the supervision of partner Martin Krejčí, advised J&T Banka on drafting complete contractual documentation related to project financing worth EUR 27 million for Julius Meinl Living Group.
29.9.2020
News
Public procurement

KŠB Advises Plzeňské městské dopravní podniky on Public Contract

KŠB’s team of Sylvie Sobolová, Václav Rovenský, Martina Parusová Zímová and Ján Béreš advised Plzeňské městské dopravní podniky, a.s. (Pilsen Public Transport Corporation) on awarding a public contract to renovate the tram depot in Plzeň Slovany.
18.9.2020
News
M&A

KŠB assisted Eligo in the acquisition of the Czech activities of the Sodiaal Group

The KŠB team provided legal advice to Eligo, a food company specializing in the production of dried dairy products, on the acquisition of the Czech branch of the French company Euroserum, a manufacturer of dried whey, which is part of one of the world's largest dairy cooperatives Sodiaal.  
17.9.2020
News
Capital markets

KŠB Represents Walteran Company at the ČNB

KŠB’s team led by partner Vlastimil Pihera successfully represented Walteran Company in licensing proceedings at the Czech National Bank to obtain a license to operate an investment company, which the company was granted on 1 September 2020.
14.9.2020
News
M&A
TMT

KŠB Advises WY Group on Acquisition of HOSTING90 systems

KŠB’s team led by senior associate Jana Guričová and partner Drahomír Tomašuk advised WY Group on the acquisition of HOSTING90 systems s.r.o. and Hosting zdarma s.r.o. – two IT companies specializing in webhosting, managed services, VPS servers, dedicated VDS servers and domain registration.
14.9.2020
News
Tax
M&A

KŠB Advises on Sale of Smetanová cukrárna

KŠB provided comprehensive legal advice on the sale of Smetanová cukrárna, a.s.
10.8.2020
News
M&A

KŠB Advises Inner Mongolia Mengtai on the Acquisition of the Czech Part of apt Group

KŠB’s team of managing partner Dagmar Dubecká and senior associates Sasha Štěpánová, Jana Guričová, Viktor Zelinka and Dana Jacková, advised China-based company Inner Mongolia Mengtai on the acquisition of the Czech part of the apt group.
23.7.2020
News
M&A

KŠB Advises Škoda Transportation Group on Acquisition of EKOVA ELECTRIC

KŠB’s team (partner Petr Kasík and senior associate Jakub Porod) advised Škoda Transportation Group on the acquisition of a 100% stake in Ostrava-based EKOVA ELECTRIC, which is engaged in the manufacture, upgrading and maintenance of tramways, trolleybuses and electric buses.
30.6.2020
News
Corporate law

KŠB advises its long-term client Solitea on merger of dozens of companies

Solitea Holding, which is engaged in developing business, accounting and HR solutions and has more than 260,000 customers in 15 countries, will merge thirty companies from the Czech Republic and Slovakia into two national companies with effect from 1 July. The merger is primarily designed to streamline and simplify communications and administration.
29.6.2020
News
Capital markets

Vlastimil Pihera elected to the AKAT Ethics Committee

KŠB Partner Vlastimil Pihera was elected to the Ethics Committee of the Association for the Capital Market of the Czech Republic (AKAT).
26.6.2020
News
M&A
TMT

KŠB' assistance in the acquisition of a stake in Revolgy Business Solutions

The KŠB team led by partner Drahomír Tomašuk and lawyer Ján Béreš represented the investment company Sandberg Capital in the acquisition of a 35% stake in Revolgy Business Solutions, a company providing digital transformation services through cloud infrastructure and online communication tools, whose clients include Avast, Česká spořitelna , Kofola or Fincentrum.
5.6.2020
News
Disputes

KŠB won a dispute as the National Theatre’s legal counsel

KŠB won a dispute as the National Theatre’s legal counsel in proceedings before the Supreme Court regarding rent payment. The Supreme Court accepted KŠB’s argument reasoning, dismissed the other party’s appeal, and confirmed the previous decisions by courts of lower instances issued in favour of the National Theatre.
5.6.2020
News
Financial services

Kocián Šolc Balaštík has advised Boels with Czech aspects on over €1 billion financing of Boels' acquisition of Cramo by way of public offer

Kocián Šolc Balaštík has advised Boels Topholding B.V. (Boels) with Czech aspects on a term loan and a revolving credit facility for Boels of over €1 billion provided by a bank syndicate consisting of Credit Suisse International, ING Bank N.V., ABN AMRO Bank N.V., Coöperatieve Rabobank U.A. and BNP Paribas Fortis NV/SA as mandated lead arrangers, physical bookrunners and underwriters. 
5.6.2020
News
M&A
TMT

KSB's assistance in the acquisition Axfone LLC's hosting division

KSB team led by partner Drahomír Tomašuk and attorney Jana Guričová represented the leading Czech hosting company IGNUM belonging to the Slovak group WY Group (Sandberg Capital) in the acquisition of hosting division of Axfone LLC, development and telecommunications company with branches in Europe, the USA and Asia.
5.6.2020
News
Financial services

KŠB advised ARETE Group on refinancing

KŠB represented the ARETE investment and real estate group in the preparation of contractual documentation concerning the (re)financing of the portfolio of its CEE II subfund in the amount of EUR 80 million.
30.4.2020
News

KŠB Ranks Once Again In The Prestigious Legal 500

KŠB once again ranked in the top spots in the up-to-date yearbook of the prestigious rating agency Legal 500 and is recommended in eight categories.
18.3.2020
News

KSB scores again in the current Chambers Europe Yearbook

The renowned British rating company Chambers and Partners once again recommends Kocián Šolc Balaštík in its current publication “Chambers Europe 2020”.
9.3.2020
News
M&A
TMT

KSB's assistance in the acquisition of Stable.cz

KSB team led by partner Drahomír Tomašuk and attorney Ján Béreš represented the leading Czech hosting company IGNUM belonging to the Slovak group WY Group (Sandberg Capital) in the acquisition of Stable.cz s.r.o., a Czech company operating for 9 years in the field of web hosting and server services.
2.3.2020
News
M&A
TMT

KSB assisted Solitea Holding in acquisition of AXIOM PROVIS

KSB's team led by partner Drahomír Tomašuk and attorney Jana Guričová represented Solitea in an acquisition of 100% stake in AXIOM PROVIS Int., s.r.o. The acquired company focuses on the supply of business systems for the automotive sector and financial services and a it is a major implementation partner of Microsoft Dynamics.
24.2.2020
News

KŠB Nominated for 2019 Deal of the Year Award

KŠB’s legal advice to Karlovarské minerální vody Group (KMV) is one of the three nominees for the prestigious 2019 Deal of the Year Award granted by CEE Legal Matters magazine.
18.2.2020
News

KSB scores in Chambers Global 2020

The renowned British rating agency Chambers and Partners once again recommends Kocián Šolc Balaštík in its current publication “Chambers Global 2020”.
29.1.2020
News
Private wealth, tusts, foundations

KSB provided legal services to the Experientia Foundation

KSB's team led by partner Vlastimil Pihera provided legal services to the Experientia Foundation in connection with the transformation and professionalization of the foundation.
7.1.2020
News

Jan Lasák and Vlastimil Pihera Become KŠB Partners

Counsels Jan Lasák and Vlastimil Pihera were made partners at KŠB as of 1 January 2020.
17.12.2019
News

Jan Dědič and Vlastimil Pihera Awarded for their Contribution to Czech Legislation

KŠB partner Professor Jan Dědič and KSB counsel Vlastimil Pihera were among the lawyers who were awarded for their contribution to Czech legislation on the occasion of the 50th anniversary of the Czech Government’s Legislative Council, which is the Government’s advisory authority in charge of legislative activities.
10.12.2019
News
M&A
TMT

KSB Advises Solitea Holding on Acquisition of Clever Decision

KSB’s team led by partner Drahomír Tomašuk advised Solitea Holding on the acquisition of a 100% share in Clever Decision, spol. s r.o., a major BI solution and data warehouse player on the Czech and Slovak markets.
21.11.2019
News
M&A
TMT

KŠB Advises on IGNUM Acquisition

KŠB’s team led by partner Drahomir Tomašuk advised WY Group, a member of the Sandberg Capital Group, on the acquisition of IGNUM, s.r.o, a major Czech player in the field of web hosting and domains which has been on the market for 19 years.
18.11.2019
News

Dagmar Dubecká and Simona Hornochová among Important Female Lawyers of 2019

Managing partner Dagmar Dubecká and tax advisor Simona Hornochová were included in the list of the Important female lawyers by the magazine Právní rádce.
5.11.2019
News

Women in Law Panel Discussion and KŠB Open Day

KŠB partner Sylvie Sobolová will speak at the Women in Law panel discussion as part of KŠB’s partnership with the Meeting of Important Lawyers Project. The discussion will take place on 18 November 2019 from 5:30 pm to 7:30 pm at Charles University Law School.
9.10.2019
News
Pro bono

25th Annual Charity Concert of Good Will – Olga Havel Foundation

This year’s Charity Concert of Good Will, which Kocián Šolc Balaštík has organised since 1995 to help support the Goodwill Committee - Olga Havel Foundation, will take place on Sunday, 8 December 2019 at 19:00 at the Church of St. Simon and St. Jude in Prague’s Old Town.
19.9.2019
News

KŠB Opens New Client Suite in September 2019

In September 2019, KŠB opened a new client suite on the 6th floor in Jungmannova Plaza.
11.9.2019
News

KŠB Supports Business Law Summer School

The Business Law Summer School organized annually by Masaryk University Law School in Brno, in cooperation with Palacký University Law School, was held this year on 15 - 19 July 2019 once again in Velké Bílovice.
9.9.2019
News
Real estate and construction

KŠB Assists on the Sale of Panorama Hotel Prague

KŠB Team (partner Václav Rovenský and associate Jakub Porod) provided Corinthia Palace Hotel Company Limited with comprehensive legal advice on the sale of its Panorama Hotel Prague and adjoining land and property to the Austrian developer S + B Gruppe.
9.9.2019
News
M&A

KŠB Advised PepsiCo CZ on the Sale of Its Toma Business

KŠB’s team (managing partner Dagmar Dubecká and associate Jana Guričová) advised PepsiCo (a KMV company) on separating and selling its Toma business (a bottled water producer) to Coca-Cola HBC Česko a Slovensko.
27.8.2019
News
M&A

KŠB Advises Karlovarské minerální vody on Acquisition of Largest Serbian Mineral Water Producer

KŠB’s team led by partners Dagmar Dubecká and Martin Krejčí with associates Ivo Průša and Jana Guričová advised Karlovarské minerální vody Group (KMV), which, in a joint venture with PepsiCo, acquired Knjaz Miloš – the largest Serbian mineral water and non-alcoholic beverage producer.
19.8.2019
News
M&A
TMT

KSB provided legal assistance to Solitea Group in the acquisition of the companies Dotykačka and Smart Software

KSB has provided comprehensive legal advice to the Solitea Group on the acquisition of a stake in the company Dotykačka and the acquisition of Smart Software, operating the Markeeta brand. The legal advice consisted mainly in the preparation and negotiation of acquisition contracts. Our legal services to Solitea included also advice on bank financing for the acquisitions referred to above.
3.7.2019
News

Sportovní úspěch KŠB

25.4.2019
News

Adaptační zákon ke GDPR je účinný

12.4.2019
News

Incorporation of KŠB Accounting s.r.o.

In an effort to complement the range of services provided by our law firm, we have decided to establish a subsidiary – KŠB Accounting s.r.o. (KSBA). KSBA offers comprehensive services in the field of accounting and reporting, to both domestic and foreign businesses operating on the Czech market.
3.4.2019
News

KSB Ranked in Latest Chambers Europe 2019 Yearbook

The reputable British rating agency Chambers and Partners once again recommends Kocián Šolc Balaštík in its current "Chambers Europe 2019 Yearbook".
22.2.2019
Publications
News

Commentary on the State Enterprise Act

A team of KSB lawyers (Jan Dědič, Jana Guričová, Josef Kříž, Jan Lasák, Jakub Porod) contributed a commentary on the State Enterprise Act published by Wolters Kluwer last September (the commentary is available here).
21.1.2019
News

KŠB Names New Partner and Counsel

As of 1 January 2019, Drahomír Tomašuk was named a new KŠB partner and Martin Kubík was appointed a counsel. Both have been with KŠB for many years and their promotions are an acknowledgment of their commitment to the firm.
9.1.2019
News
Competition

KSB Wins Damages Case for Asiana

KSB’s litigation team led by Pavel Dejl recently won a case at the Regional Court in Brno. The judgment, which is yet to become enforceable, orders Student Agency to pay Asiana CZK 11.7 million plus default interest for damages resulting from illegally forcing Asiana out of the bus transport market on the Prague-Brno route in 2007 and 2008.
17.12.2018
News

Contract Competition Marks Its Seventh Year

ELSA, the largest independent association of law students in the world, recently organized the seventh annual Contract Competition in cooperation with KSB.
28.11.2018
News

Simona Hornochová Joins KŠB

Tax advisor Simona Hornochová has joined the ranks of Kocián Šolc Balaštík (KŠB) today.
28.11.2018
News
Real estate and construction

KŠB advised on the sale of Forum Karlin complex

KŠB advised the seller on the sale of a group of real estate assets in Prague’s Karlín district to the real estate fund of Amundi Czech Republic. The heart of this complex is the multi-purpose Forum Karlín hall that hosts musical, social, and professional events.
22.11.2018
News

Kocián Šolc Balaštík Takes Part in Social Events

KŠB has recently held, or taken part in, several social events.
22.11.2018
News
Pro bono

24th Annual Charity Concert of Good Will – Olga Havel Foundation

The 24th Annual Charity Concert of Good Will took place at the Church of St. Simon and St. Jude in Prague’s Old Town on 18 November. Kocián Šolc Balaštík has supported the Olga Havel Foundation by organizing the charity concerts since 1995.
21.11.2018
News

KŠB Ranked Once Again in Prestigious IFLR1000

KŠB was ranked once again in the top spots in prestigious rating agency IFLR1000’s most recent yearbook and is recommended in all categories: banking & finance, capital markets, M&A, restructuring and insolvency, and project development.
7.11.2018
News
Competition
M&A

Czech Competition Authority Approves Karlovarské minerální vody’s Acquisition of PepsiCo’s Operations

KSB advised its long-standing client Karlovarské minerální vody (KMV) on acquiring PepsiCo’s assets and operations on the Czech, Slovak and Hungarian markets
31.10.2018
News

Contract Competition 2018

17.9.2018
News
Publications

Professor Jan Dědič Comments on Amendment to the Corporations Act in Lidové noviny

Lidové noviny featured an interview with Professor Jan Dědič, KŠB Partner and one of the leading experts on Czech commercial law.
17.9.2018
News
Pro bono

24th Annual Charity Concert of Good Will – Olga Havel Foundation

This year’s Charity Concert of Good Will, which Kocián Šolc Balaštík has organised since 1995 to help support the Goodwill Committee - Olga Havel Foundation, will take place on Sunday, 18 November 2018 at 19:00. Once again, the concert will be held at the Church of St. Simon and St. Jude in Prague’s Old Town.
3.8.2018
News
M&A

KSB advised ŠKODA AUTO DigiLab on its CareDriver project.

After successful assistance with transferring the HoppyGo project to ŠKODA AUTO DigiLab, KSB provided and continues to provide comprehensive legal advice on the CareDriver project.
24.7.2018
News
Energy

News from KŠB's Energy Law Team

KŠB successfully represented CARTHAMUS a.s. in administrative proceedings in which CARTHAMUS sought to obtain clearance to operate a biomass heating plant in Český Krumlov - Domoradice/Přísečná.
13.6.2018
News

KŠB Wins CEE Legal Matters’ “Deal of the Year”

KŠB was recently awarded CEE Legal Matters’ “Deal of the Year”. The deal which KŠB nominated for the award concerned the transfer of 100% of the shares in AGROFERT, a.s. and SynBiol, a.s. to two private trusts. The lawyers responsible for the transaction were KŠB partner Petr Kasík, counsel Vlastimil Pihera and associates Martin Kubík and Jakub Porod.
29.5.2018
Publications
News

New article by Václav Rovenský and Tomáš Sequens published in CEE Legal Matters magazine

Partner Václav Rovenský and counsel Tomáš Sequens look at the issue of state aid for Czech green energy sources in CEE Legal Matters magazine.
15.5.2018
News

KŠB Sponsors 7th Annual Corporate Lawyer Awards

KŠB was one of the proud sponsors of the “Podnikový právník 2018” (Corporate Lawyer 2018) awards organized by the Union of Corporate Lawyers in cooperation with publisher Economia and monthly magazine “Právní rádce” (Legal Counsel). The ceremony took place in Prague’s Sacred Heart church.
14.5.2018
News
Capital markets

KSB has acted as Czech counsel to ENERGO-PRO a.s.

KSB has acted as Czech counsel to ENERGO-PRO a.s. in respect of its issuance of EUR 250,000,000 of 4.50 per cent. Guaranteed Notes due 2024 (the "Notes").
19.4.2018
News

KŠB Ranks Once Again In The Prestigious Legal 500

KŠB once again ranked in the top spots in the up-to-date yearbook of the prestigious rating agency Legal 500 and is recommended in eight categories.
21.3.2018
News

KŠB in 2018 Chambers Europe

Renowned British ratings agency Chambers and Partners recommends KŠB and its lawyers in nine fields in the latest edition of the Chambers Europe 2018 guide.
21.3.2018
Publications
News
Tax

Helena Navrátilová and Jan Černohouz author expert commentary on Czech tax environment for Chambers Global Practice Guides

KŠB tax partner Helena Navrátilová and KŠB counsel Jan Černohouz have written a chapter on corporate tax in the Czech Republic for Chambers Global Practice Guides. The guide provides expert legal commentary on key tax law issues and summarizes the latest developments in each particular jurisdiction.
21.3.2018
News
Aviation and aerospace

Consortium of Kocián Šolc Balaštík (KSB), PwC Legal Germany, PwC Legal Czech Republic and Heuking Kühn Lüer Wojtek advise the European Global Navigation Satellite Systems Agency GSA

The European Global Navigation Satellite Systems Agency (GSA) in Prague is an agency founded by the European Union whose mission is to implement the satellite programs GALILEO and EGNOS. GALILEO is a satellite navigation system that will be completed in orbit by 2020, providing improved positioning and timing information with significant positive implications for many European services and users. EGNOS is the Europe's regional satellite-based augmentation system (SBAS) that is used to improve the performance of global navigation satellite systems (GNSSs), such as GPS and Galileo.
1.3.2018
News

KŠB once again nominated as Law Firm of the Year in Chambers Europe Awards 2018

KŠB has once again been nominated for a Chambers Europe Award in the category of best law firm in the Czech Republic. This prestigious award is announced annually by the renowned British ratings agency Chambers and Partners.
21.2.2018
News

KSB Advises on Investment in Car-Sharing App

KSB provided comprehensive legal advice to ŠKODA AUTO DigiLab as part of its HoppyGo project, a car-sharing application developed by CreativeDock that brings car owners together with drivers who want to rent a vehicle.
15.2.2018
News
M&A

KŠB Advises Karlovarské minerální vody on Acquisition of PepsiCo Companies in the Czech Republic, Slovakia and Hungary

One of the largest producer of mineral and spring water in Central Europe, Karlovarské minerální vody, is purchasing PepsiCo’s Czech, Slovak and Hungarian operations.
14.2.2018
News

Martin Šolc zařazen rankingovou společností Legal500 do síně slávy

14.2.2018
News
Publications

Partner kanceláře Martin Šolc pro The Times

13.2.2018
News
Intellectual property

“Kingdom Come: Deliverance” Launched Tuesday with KSB Involved as Legal Counsel

KSB advised Czech game development studio Warhorse on the initial crowdfunding for the project and on the legal aspects of the game’s development, including the licensing arrangements with the software developers.
26.1.2018
News

Contract Competition Marks Its Sixth Year

ELSA, the largest independent association of law students in the world, recently organized the sixth annual Contract Competition in cooperation with KSB. 
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23.12.2009
News

Reduced Information Obligations in the Case of Mergers and Divisions

Directive 2009/109/EC of the European Parliament and of the Council of 16 September amending Council Directives 77/91/EEC, 78/855/EEC and 82/891/EEC, and Directive 2005/56/EC as regards reporting and documentation requirements in the case of mergers and divisions (published in Official Journal No. L 259) was adopted on 16 September 2009. It is yet another Commission measure to support business and enhance the competitiveness of companies by reducing the administrative burden and the costs resulting therefrom. The new legislation also leaves it up to the companies or their shareholders to decide what reports they actually need. The simplified reporting and documentation requirements is primarily reflected in the Third (78/855/EEC) and Sixth (82/891/EEC) Company Directive which apply to, and lay down the rules for, national mergers and divisions.
23.12.2009
News

Proposals to enhance supervision over the European Financial Sector; the so-called financial package

On 23 September 2009, the European Commission presented legislative proposals to enhance supervision over the European Financial Sector. The proposals are based on a report by Jacques de Larosièr, the former Managing Director of the International Monetary Fund, and his recommendations, which define a more efficient and integrated supervisory framework that would operate on a cross-border, European level. The new supervision architecture focuses on future sustainable reinforcement of financial stability throughout the entire EU, harmonising rules and creating coherent supervisory practice and enforcement, identifying systemic risks in early stage, enhancing cooperation in extraordinary circumstances and resolving disputes, if any, between supervisory authorities.
23.12.2009
News

Avoiding Financial Crises – Stricter Capital Rules on Banks

Directive 2009/111/EC of the European Parliament and of the Council of 16 September 2009 amending Directives 2006/48/EC, 2006/49/EC and 2007/64/EC as regards banks affiliated to central institutions, certain own funds items, large exposures, supervisory arrangements, and crisis management took force on 7 December 2009. The Directive amendment applicable to capital requirements is primarily a response to shortcomings revealed by the financial crisis, one of them being the due functioning of the supervision over cross-border bank groups; the major changes thus do not involve only banks and other regulated parties, but the very regulators themselves. The other areas to which the amendment applies include exposure rules, liquidity risk management, application of hybrid capital instruments in capital management and the requirements for securitization transactions.
18.12.2009
News
M&A

KSB takes part in an international merger

Kocián Šolc Balaštík assisted in the international merger of PHL Správní a.s. with Cyprus-based CIMEX FRANCHISE MANAGEMENT LIMITED.
30.11.2009
News
Pro bono

Traditional Charity Concert of Good Will

Kocián Šolc Balaštík organized its fifteenth annual Charity Concert of Good Will for the benefit of the Good Will Committee – Olga Havel Foundation. The concert was held on 22 November in the Church of St. Simon and St. Jude in Prague’s Old Town.
24.11.2009
News

Notification of the Finance Ministry

Notification of the Finance Ministry dated 2 December 2008 on classification of tangible assets into depreciation groups; Decree sets foreign meal allowances for 2009; Information on application of the provisions of Section 36, subsection 11 of the VAT Act
24.11.2009
News

International Tax Relations

For the taxation period commencing 1 January 2008,  a newly concluded double-tax treaty between the Czech Republic and the Hashemite Kingdom of Jordan, which also prevents tax evasion in the area of income taxes, became effective.
24.11.2009
News

Newly submitted bills

Amendment to the VAT Act in the Chamber of Deputies; The Act on Financial Administration of the Czech Republic and the Act on Customs Administration
24.11.2009
News

From Judicature - resolution of the Supreme Court dated 9 September 2009, No. 2 Afs 58/2009-85 on the illegality of a request for elimination of doubt

Pursuant to the resolution of the Supreme Court dated 9 September 2009, No. 2 Afs 58/2009-85, a request for elimination of doubt based on the provisions of Section 43 of Act No. 337/1992, Coll., on Tax Administration and Collection, is illegal if it does not contain concrete specified doubt for subsequent refutation by the taxpayer.
24.11.2009
News

From Judicature - resolution by the Constitutional Court on the possibility to review by a court resolution on tax forgiveness

Pursuant to a resolution by the Constitutional Court, resolutions on tax forgiveness based on the provisions of Section 55a of Act No. 337/1992, Coll., on Tax Administration and Collection can be reviewed by a court.
24.11.2009
News

Newly approved and effective laws

Discounts on insurance – Act No. 221/2009 Coll. amending Act No. 589/1992 Coll. on Social Security Insurance Contributions and Act No. 586/1992 Coll. on Income Taxes; The Payment System Act; The Amendment to the Act of Administration of Taxes and Fees through the Payment System Act
20.11.2009
News

KSB recognized as Leading Law Firm of 2009 in company law and competition law

In the second year of the Leading Law Firm of the Year Competition organized by EPRAVO.CZ under the auspices of the Czech Bar Association, law firm Kocián Šolc Balaštík was awarded the leading law firm in the fields of company law and competition law for 2009.
18.11.2009
News

Simplifying regulation of limited companies in the amendment to the Commercial Code

The amendment, which was published under Act No. 215/2009 Coll., and took force and effect on 20 July 2009, is primarily harmonizing in character. The majority of changes arise from implementation of the Amendment to the so-called Second Company Law Directive and simplify certain aspects of provisions applicable to limited liability companies. The main changes include the reduction of requirements to valuate asset contributions, requirements for so-called financial assistance and acquisition of own shares.
18.11.2009
News

Changes in Competition Law from 1/9/2009

The amendment to the Act on the Protection of Economic Competition (published under Act No. 155/2009, Coll.) brings existing Czech regulations in line with EC competition law. The amendment applies to a number of provisions and specifies or replaces their wording with the aim of removing existing differences of application and interpretation. In addition the amendment implements certain new “European” institutes, in particular the simplified proceedings on obtaining approval for concentration of undertakings and sector-related surveys. The proceedings before the Antimonopoly Office shall be regulated in greater detail while the provisions on sanctions have been completely revised.
15.10.2009
News
Aviation and aerospace

KSB advises UNIMEX-TVS consortium in privatization of Czech Airlines

Law firm Kocián Šolc Balaštík is representing the UNIMEX-TVS consortium, consisting of UNIMEX GROUP, a.s. and Travel Service, a.s., during the privatization process of Czech Airlines.
11.9.2009
News

Newly approved and effective laws

Discounts on insurance – Act No. 221/2009 Coll. amending Act No. 589/1992 Coll. on Social Security Insurance Contributions and Act No. 586/1992 Coll. on Income Taxes; The Payment System Act; The Amendment to the Act of Administration of Taxes and Fees through the Payment System Act
11.9.2009
News

Notification of the Finance Ministry

Notification of the Finance Ministry dated 2 December 2008 on classification of tangible assets into depreciation groups; Decree sets foreign meal allowances for 2009; Information on application of the provisions of Section 36, subsection 11 of the VAT Act
11.9.2009
News

International Tax Relations

For the taxation period commencing 1 January 2008,  a newly concluded double-tax treaty between the Czech Republic and the Hashemite Kingdom of Jordan, which also prevents tax evasion in the area of income taxes, became effective.
11.9.2009
News

Newly submitted bills

Amendment to the VAT Act in the Chamber of Deputies; The Act on Financial Administration of the Czech Republic and the Act on Customs Administration
11.9.2009
News

From Judicature - the Supreme Administrative Court of the Czech Republic commented in its decision No.9 Afs 93/2008-43, dated 23 April 2009, on the term “lease of non-residential premises for the gaming machines” for VAT purposes

Pursuant to the Supreme Administrative Court's (SAC) interpretation, since the definition of the term in question is not included in the VAT Act, it is necessary to take into consideration the European Court of Justice’s interpretation pursuant to European legislation. Therefore, in order to make a lease of non-residential premises exempt from VAT, merely meeting the formal requirements of a Lease Agreement under the general civil law rules is not sufficient; the term “lease” and its exemption from VAT needs to be interpreted in a restrictive manner.
11.9.2009
News

Information on Published Amendments to the Income Tax Act

Statutes amending the Income Tax Act have been published in the Collection of Laws.
11.9.2009
News

From Judicature - the Supreme Administrative Court explained in its decision No. 2 Afs 46/2008 – 48, dated 31 July 2009, the difference between a natural person and a legal entity in cases where the tax administrator imposes a fine on the executive

Based on the Supreme Administrative Court's (SAC) opinion, the fine cannot be imposed on the executive as a natural person but should be imposed directly on the legal entity on behalf of which the executive acts.
7.8.2009
News

Kocián Šolc Balaštík continues to lead – awarded Czech Republic’s Law Firm of the Year for the fourth time

Kocián Šolc Balaštík was named for the fourth consecutive year Czech Republic Law Firm of the Year 2009 in the international Who’s Who Legal Awards organized by the British rating agency Who’s Who Legal.
31.7.2009
News

Revision of Fourth and Seventh Directives - requirements in accounting reduced

Directive of European Parliament and Council 2009/49 of 18 June 2009 (Official Journal L 164/2009) is a further step toward reducing the administrative burden on firms. It allows medium-sized companies to abolish the requirement to disclosure certain information in their accounting and also reduces the duty to prepare consolidated accounts and a consolidated annual report.
31.7.2009
News

Failure to duly notify of intent to take over the company

Decision of the European Commission in the case of Electrabel (COMP/M.4994) On 10 June 2009 the European Commission imposed a fine of 20 million EUR on the company Electrabel since it did not notify the Commission during its acquisition of Compagnie Nationale du Rhône (hereinafter "CNR") of this intention and thus failed to fulfil its obligations under Council Regulation No 139/2004 on the control of concentrations between undertakings. This rule requires that the Commission be informed of the merger in advance in case those companies fall within the scope of the Regulation. The Commission may investigate whether a significant infringement of free competition within the European Union occurred by this merger.
31.7.2009
News

Abuse of dominant position

Decision of the European Commission in the case of INTEL (COMP/37.990) The European Commission has imposed a penalty in the amount of €1.06 billion on the computer microprocessor manufacturer Intel for the abuse of its dominant position (see Article 82 of the EC Treaty) on 13 May 2009. The Commission ruled that Intel abused its dominant position on the market from October 2002 until December 2007 by being involved in two types of illegal conduct.
31.7.2009
News

Assistance from globalization fund for staff redundancies caused by the crisis

An amendment to Regulation No 1927/2006 establishing the European Globalization Adjustment Fund (Official Journal L 167/2009) has temporarily extended the scope of this fund. It will be possible to finance from its resources support to workers who have lost their jobs as a result of the current economic and financial crisis. The contribution for this purpose is available until the end of 2011. Concurrently the amendment has mitigated current intervention criteria.
31.7.2009
News

Community trademark - a reduction in registration fees

Commission Regulation No 355/2009 (Official Journal L 109/2009) reduces the total amount of fees to be paid to the Office for Harmonization in the Internal Market for the registration of a Community trademark.
31.7.2009
News

Requirements for remuneration policy in financial services sector

On 29 April 2009 the European Commission issued the Recommendation on remuneration policy in the financial services sector (Official Journal L 120/2009). Uniform principles apply to all companies operating in this sector and should be applied primarily to employees whose job description has a substantial impact on the risk profile of the company. The remuneration policy will also be subject to the supervisor’s assessment. The Recommendation is not legally binding but the Commission envisages the adoption of regulations that will reflect the main requirements of the remuneration policy. Member States should take the necessary measures to implement the Recommendation by the end of this year.
31.7.2009
News

EU regulates hedge funds and other alternative funds

European Commission, after long-term reluctance to intervene in this sector of financial markets, finally presented a proposal for a Directive on managers of alternative investment funds at the end of April. The draft applies to all funds not covered by Directive 85/611 (the so-called UCITS Directive) and encompasses hedge funds, so-called private equity funds, commodities and real estate funds and special funds for professional investors.
31.7.2009
News

The liberalization of energy markets approved

At the end of April the European Parliament passed in the second reading the energy package dealing with the further functioning of the single EU energy market, mainly the strengthening of its competitiveness and security. In the hitherto most controversial issue of fission energy companies, the members of Parliament receded from the original strict requirement of full ownership unbundling of production capacity from the transmission networks owned. The approved compromise also brings a strengthening of consumers’ rights.
31.7.2009
News

Remuneration of directors of listed companies

The European Commission has also completed in a form of a Recommendation the existing system of remuneration of directors of listed companies (Official Journal L 120/2009). The Commission asserts basic principles that are the same as the remuneration in the financial sectors: focus on long-term sustainability instead of short-term results, elimination of excessive payment incommensurate with performance, simplifying the pay structure and its transparency. Other requirements relate to the principles of payment of the so-called "golden parachutes" and bonuses in the form of shares or share options.
31.7.2009
News

Amendment to regulatory framework (Solvency II) approved

European authorities have agreed on the compromise text of a Directive on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II). Its main objective is to strengthen the stability of the insurance sector, to deepen its integration and competitiveness. The current 13 Directives relating to insurance and reinsurance have been recast into a single act. New and more elaborate rules of capital adequacy should better reflect the risks that insurance and reinsurance carry and ensure their sufficient coverage.
15.7.2009
News

Change in the Field of State Aid

On 27 April 2009, an amendment to Act No. 215/2004, Coll., on Regulation of Certain Relationships within the Area of State Aid and certain other regulations was published under No. 109/2009, Coll.  New term “state aid coordination body” has been introduced which, in addition to the existing Antimonopoly Office, is the Ministry of Agriculture, since the powers of the act was extended to cover state aid in the fields of agriculture and fishing.
15.7.2009
News

Amendment to State Aid to Cover Interests from Loans for Repairs and Modernization of Houses

On 27 April  2009, an amendment to Governmental Regulation No. 299/2001, Coll., on Using Funds from the State Fund of Dwelling Development for covering a Part of Interests from Loans Provided by Banks to Legal Entities and Individuals for Repairs, Modernization or Regeneration of Panel Houses,  was adopted. The regulation took effect on 1 May 2009.
15.7.2009
News

New conception of Support for Research and Development

Under Act No. 110/2009, Coll., the area of Support Research and Development from Public Funds has been amended. The new regulation represents a fundamental and conceptual change and constitutes a part of the reform of the system of research, development and innovations approved by the government with the aim to strengthen the effectivity of using state funds in this field. The subject of regulation by the act was extended by innovations. Provision of aid should be generally simplified; the number of providers was limited, so that the aid will not include all resorts. It is also assumed that access to drawing on funds from structural funds and EU framework programs will be easier.
8.7.2009
News

Kocián Šolc Balaštík expands its team

Kocián Šolc Balaštík has expanded its legal team by three new advocates: Mgr. Miloslav Petrů, LL.M., Ing. Mgr. Ivo Šimeček, M.E.S. and Mgr. Jan Hrubec. With nearly seventy lawyers and tax advisors in offices in Prague, Karlovy Vary and Ostrava, KSB is ranked one of the largest law firms in the Czech Republic.
1.7.2009
News

Regional Court in Hradec Králové issues first European order for payment on 10 June 2009 upon application by KSB

Regulation (EC) No 1896/2006 of the European Parliament and of the Council of 12 December 2006 creating a European order for payment procedure took force and effect on 12 December 2008. The Regulation is directly applicable in all Member States with the exception of Denmark and helps creditors swiftly and efficiently recover their outstanding debts in civil and commercial matters having cross-borders implications through a uniform procedure using standard forms.
30.6.2009
News

Co přinášejí datové schránky

24.6.2009
News

KSB assists unit trust in takeover of assets of joint stock company, the first transaction of this kind in Czech Republic

Law firm Kocián Šolc Balaštík provided legal consultancy to Closed Unit Trust Fortius 1, managed by the investment company Fortius Global Investments, in the takeover of assets of the joint-stock company TERION CZ a.s.
28.4.2009
News

2009 Legislation News

Amendment to the VAT Act and the Income Tax Act; Amendment to Decree No. 500/2002 Coll., implementing certain provisions of the Accounting Act; Collection of Acts
27.4.2009
News

Negotiated amendments

Amendment to the Income Tax Act; Chamber of Deputies postpones approval of partial harmonization amendment to the VAT Act and Excise Tax Act; Amendment to the Foreign Currency Act
27.4.2009
News

From Judicature - the Supreme Administrative Court comments on the term “in connection with business operations” used throughout tax legislation

In judgment No. 2 Afs 112/2008-44 dated 24 February 2009, the Supreme Administrative Court commented on the term “in connection with business operations”. The need for an explanation of the term is the result of a dispute between a taxpayer and the tax authority over a father’s donation of assets to his son, the father and son both having originally been engaged in the same business.
9.4.2009
News

Severe penalties on employers of illegal immigrants

The European Parliament adopted at its February session the Directive providing for sanctions against employers of illegally staying third-country nationals. Criminal penalties may be applied to deny this form of grey economy. Where the employer is a subcontractor the penalties may be imposed on its business partner as well. The Directive also aims at providing illegal workers with legal payroll. 
9.4.2009
News

Certain services subject to reduced VAT rate

The EU Finance Ministers under the Czech Presidency finally agreed on 10 March 2009 to reduce the value added tax rate for certain services. The draft amendment to Directive No. 2006/112 primarily covers areas where the current exemptions only made it possible to apply VAT lower than 15% by the end of 2010, which could result in considerable price increase for these services after 2010. The initiative constitutes a part of the European Small Business Support Program (Small Business Act).
9.4.2009
News

Freedom of Establishment; Cross-Border Transfer of a Company Seat

Judgment by the ECJ of 16 December 2008 in the case C-210/06 Cartesio Oktató és Szolgáltató Bt The European Court of Justice dealt with yet another case of a transfer of a company seat to another EU Member State. Cartesio, a limited partnership incorporated under Hungarian law with its company seat in Hungary, filed a petition with the registration court to transfer its seat to Italy. The registration court dismissed the petition due to the fact that Hungarian law does not make it possible for a company incorporated in Hungary to transfer its seat to a foreign country and, at the same time, be subject to Hungarian law as its personal statute.
9.4.2009
News

Liberalization of energy markets proceeds to second reading

One of the first sessions held by the Czech presidency was the session of the Transport, Telecommunications and Energy Council during which the joint position to the energy liberalization package was approved. As expected, the Council did not endorse most of the draft amendments by the European Parliament which were adopted in the first reading held last year. Unbundling or separation of electricity generation from transmission systems continues to be one of the most controversial issues, having impact on all gas producers and electricity generators in the EU. 
9.4.2009
News

Directive concerning the general arrangements for products subject to excise duty

The EU authorities passed Directive 2008/118/EC concerning the general arrangements for products subject to excise duty, which repeals Directive No. 92/12/EEC. The new legislation shall substantially aid in the efficient exchange of information between national tax authorities, introduce an electronic system for the monitoring of movement of consumer goods within the EU and define the legal framework for the functioning thereof. It also refines the definition of the objects subject to excise duty and the rules applicable to the payment thereof for the international shipping of goods. It has been designed to improve, and render more efficient, the fight against tax evasion.
9.4.2009
News

Commission’s priorities for assessing abuse of dominant position

The European Commission has issued instructions for enforcement priorities in application of Article 82 of the EC Treaty against abusive exclusionary conduct by dominant undertakings, which discriminate against other competitors on the market (Official Bulletin C 45 dated 24 February 2009). The document should assist companies in anticipating whether the Commission will intervene with regard to their  particular conduct. 
9.4.2009
News

SPE – a uniform company throughout the EU

The negotiations on the legal framework of a European Private Company (Societas Privata Europaea) progressed significantly during March. The European Parliament discussed and approved (subject to several amendments) the proposal on the statute for a European private company. 
9.4.2009
News

Regulation on credit rating agencies

The European Commission presented a proposal at the end of last year as part of a package of proposals addressing the financial crisis. It was instigated by current insufficient control over the quality of work of rating agencies that many people believe fairly contributed to the current financial crisis. Credit rating has been subject to legislation primarily applicable to other aspects of financial markets (Directive No. 2003/6 on insider dealing and market manipulation and Directive No. 2006/49 on the capital adequacy of investment firms and credit institutions). 
9.4.2009
News

Proposal for Directive on Industrial Emissions (Integrated Pollution Prevention and Control)

The European Parliament approved in its March session the proposal for a directive on industrial emissions on first reading. The proposal suggests consolidating the current seven industrial-emission laws into a single act – directive on integrated pollution prevention and restriction (IPPR) and six industry laws – the so-called VOC, LCP, titanium dioxide and waste burning directives. The reasons for this change are not to merely eliminate difficulties and discrepancies in the current legal framework, but respond to the ever-increasing emission levels which pollute water, soil and air, in attempt to create a more efficient pan-European framework and standards for an integrated approach to prevention. 
8.4.2009
News
Competition

Agrofert’s take over of Agropol permitted

Kocián Šolc Balaštík successfully represented Agrofert Holding, a.s. in proceedings before the Anti-Monopoly Authority regarding Agrofert’s merger with Agropol. The Anti-Monopoly Authority permitted the merger subject to predefined conditions.
1.4.2009
News

KSB Opens Branch Office in Ostrava

Law firm Kocián Šolc Balaštík, named several times by international rating agencies as a leading Czech law firm, opened a new branch office in Ostrava on 1 March 2009. The opening of KSB’s Ostrava branch office is an expression of KSB’s focus on satisfying the needs of its large corporate clients from the Moravia region.
24.3.2009
News

Negotiated amendments

Amendment to the Income Tax Act; Chamber of Deputies postpones approval of partial harmonization amendment to the VAT Act and Excise Tax Act; Amendment to the Foreign Currency Act
24.3.2009
News

Notification of the Finance Ministry

Notification of the Finance Ministry dated 2 December 2008 on classification of tangible assets into depreciation groups; Decree sets foreign meal allowances for 2009; Information on application of the provisions of Section 36, subsection 11 of the VAT Act
24.3.2009
News

New developments in legal regulations from 2009

Changes in payment of social security contributions from 1 January 2009; Maximum assessment base for 2009; Sickness Insurance Act
24.3.2009
News

From Judicature - Award by the Constitutional Court dated 1 December 2008 (I. ÚS 705/06)

Pursuant to the Award by the Constitutional Court dated 1 December 2008 (I. ÚS 705/06), the facts ascertained by tax authorities (carrying out procedural acts) in the course of a tax inspection that serve the decision-making of tax administrators but subsequently found to be illegal by the Financial Directorate, cannot be reapplied by the tax administrator.
6.3.2009
News
M&A

MAGNA Group takes over auto plastic parts manufacturer Cadence Innovation

Law firm Kocián Šolc Balaštík has been providing legal consultancy to its long-term client, the globally operating Canadian company MAGNA, in its acquisition of Cadence Innovation, s.r.o. The company belongs to the largest world-wide manufacturers of car parts and is established in the Czech Republic.
24.2.2009
Publications

Novelties in Commercial Law. Plus, No. 1/2009

Professor Jan Dědič, a partner of law firm Kocián Šolc Balaštík, wrote an article on changes expected in 2009 concerning legal regulations in commercial law in the Czech-German Commercial and Industrial Chamber's magazine Plus, which was published in February.
18.2.2009
News

Notification of the Finance Ministry

Notification of the Finance Ministry dated 2 December 2008 on classification of tangible assets into depreciation groups; Decree sets foreign meal allowances for 2009; Information on application of the provisions of Section 36, subsection 11 of the VAT Act
18.2.2009
News

New developments in legal regulations from 2009

Changes in payment of social security contributions from 1 January 2009; Maximum assessment base for 2009; Sickness Insurance Act
18.2.2009
News

From Judicature - The Constitutional Court Has Issued a Further Interesting Award

The break-through resolution of the Constitutional court concerning the deadline for additional tax assessment of which we informed in the past Tax News was preceding by another interesting resolution from the end of November 2008 in which the Constitutional court provided its comments on the contents and objective of tax inspection.
18.2.2009
News

International relations

Communication of the Ministry of Foreign Affairs on termination of the Agreement between the Czech Republic and the Union of Soviet Socialistic Republics on Social Security and the Protocol to the Agreement in relation to the Russian Federation
18.2.2009
News

Negotiated amendments

Amendment to the Income Tax Act; Chamber of Deputies postpones approval of partial harmonization amendment to the VAT Act and Excise Tax Act; Amendment to the Foreign Currency Act
13.2.2009
News
M&A
Energy

KSB Assists OKD, a.s. in Spin-Off of Energy-Related Assets

Kocián Šolc Balaštík advised OKD, a.s. in connection with the spin-off of OKD’s CZK 2.8 billion worth of energy-related assets to its sister company NWR Energy, a.s.
20.1.2009
News

Nový trestní zákoník čeká již jen na podpis prezidenta

20.1.2009
News

Changes in Cadastral Register

In the end of the past year, an amendment to the Cadastral Register Act was passed. In addition to legislative and technical adjustments, the amendment also contains significant factual changes. In general, data registered in the Cadastral Register will be more easily accessible, since in view of the advanced digitalization, any Cadastral Office may provide extracts, extracts from cadastral maps and any other data regardless of where the real estate is situated or under what Cadastral Office its cadastral area belongs. Simultaneously, together with the protection of important personal data that is usually contained in the Cadastral Register’s information system (such as information on financial circumstances, in particular information on acquisition of assets, purchase prices, etc.), the provision of certain data will be subject to certain regulation.
20.1.2009
News

Increased performance under insurance of deposits

The amendment to the Banking Act increases the maximum compensation provided under insurance of deposits to the amount equaling the equivalent of EUR 50,000. The new amendment took effect on 15 December 2008.
20.1.2009
News

New regulation for documenting certain facts entered in Commercial Register

Following the new regulation concerning mergers and other transformations effective 1 July 2008, an amendment was passed to Decree 250/2005, Coll. on Binding Forms for Filing Applications for Entry into Commercial Register. The major change is a new detailed regulation of mandatory annexes documenting facts entered into the Commercial Register in case of transformations of commercial companies, cooperatives and European cooperatives.
15.1.2009
News
Corporate law

KSB advises MICHEL THIERRY during restructuring in the Czech Republic

Law firm Kocián Šolc Balaštík provided legal advice to the MICHEL THIERRY GROUP SA during the merger and transfer of assets of its subsidiaries.
14.1.2009
News

New Attorneys at KSB - Radka Felgrová and Martin Škrabal

Law firm Kocián Šolc Balaštík, recognized as the Czech Republic's leading law firm in corporate law by the November survey of ePravo.cz, expanded its team of attorneys by two new members, Radka Felgrová and Martin Škrabal.
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