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22.5.2008
News

KSB participates in external comments proceedings on Waste Act Amendment

Kocián Šolc Balaštík (KSB) law firm participated in providing comments to the so-called great amendment to Act No. 185/2001 Coll., the Waste Act, introduced by the Ministry of the Environment at the end of February 2008.
14.5.2008
News

Kocián Šolc Balaštík - Law Firm of the Year 2008

Prague, 12 May 2008 – Kocián Šolc Balaštík (KSB) has won the first ever Chambers Europe Awards for Excellence. At the ceremony in Barcelona on Thursday 8 May 2008, KSB was delighted to receive the award for National Law Firm of the Year 2008, Czech Republic. The award confirms that KSB is a leading Czech law firm, having already been named Law Firm of the Year, Czech Republic 2006 and 2007 by Who\'s Who Legal.
1.5.2008
Publications

Getting the Deal Through – Gas Regulation 2008

Václav Rovenský and Tomáš Sequens have recently authored the chapter on the Czech Republic for Getting the Deal Through – Gas Regulation 2008 edition, published by Law Business Research, London. The Czech chapter provides a clear and concise guide to the law governing the Czech gas market as well as many related business aspects. Available for download here.
3.4.2008
Publications

The International Comparative Legal Guide to: Litigation & Dispute Resolution 2008

Pavel Dejl and Radka Felgrová have recently authored the Czech chapter in The International Comparative Legal Guide to: Litigation & Dispute Resolution 2008, providing a clear guide to the basic law on dispute resolution in court and arbitration proceedings in the Czech Republic, the organisation of Czech courts and litigation under Czech law. Other points covered include assets available to the parties, instruments used by the court to direct the proceedings, types of court orders and the effects of court decisions. Arbitration is covered in a separate chapter. The Guide is published by the Global Legal Group. To view/download click here
2.4.2008
News
M&A

KSB advises Heineken on its acquisition of Drinks Union

Kocián Šolc Balaštík (KSB) acted for Heineken during the acquisition of Drinks Union, a.s., the Czech beverages group and owner of several Bohemian breweries (Krásné Březno, Velké Březno, Louny, Kutná Hora), whose portfolio includes the Zlatopramen brand.
19.3.2008
News

Úpadek, insolvenční právo

19.3.2008
News

Úpadek, insolvenční právo

12.3.2008
News
Environmental Law

KSB – one of the first participants in the \"Green Firm\" environmental project

KSB is one of the first to take part in Green Firm, a project organised by REMA Systém, a.s., a company duly licensed to manage electrical waste in the Czech Republic.
11.3.2008
Publications

VAT on financial and insurance services – not just for banks and insurance companies

This article (published by C.H. Beck) by Václav Pátek (of KSB) provides a detailed legal analysis of VAT issues with a wider application than the narrowly defined specialise in the title suggests. Pátek examines selected aspects of financial and insurance services (in the current business climate no longer the sole province of banks and insurance companies) to compare Czech and EU VAT laws and to investigate whether Community law has been given full and proper effect with reference to selected services. Pátek's contribution will assist tax consultants, advocates and all of those working in the sector of tax administration, as well as all those seeking answers to VAT application issues in the seemingly narrow sector of financial and insurance services. In particular, some of the general principles identified will be applicable in areas additional to those indicated in the title. For further information click here
5.3.2008
Publications

A Practical Guide to National Competition Rules Across Europe – second edition

Pavel Dejl, Pavel Nosek and Ivo Šimeček have recently completed the chapter on the Czech Republic in A Practical Guide to National Competition Rules Across Europe – second edition, published by Kluwer Law International as part of their International Competition Law Series. True to its title, the publication is a comprehensive guide to competition law in the EU, Norway and Switzerland. As well taking an overall look at Czech competition law, the Czech chapter deals with related aspects of Community law and regulated markets legislation, cartel agreements, abuse of dominant position, competition law enforcement, powers of the Czech Antitrust Office and the law on concentration of undertakings, with illustrative recent judicial decisions. To download this chapter, click here
3.3.2008
Publications

The International Comparative Legal Guide to: Cartels & Leniency 2008

Pavel Nosek and Ivo Šimeček have recently written an article for The International Comparative Legal Guide to: Cartels & Leniency 2008, published by Global Legal Group, examining newly enacted provisions on regulation of cartels and the leniency program in the Czech Republic and briefly commenting on basic Czech competition law and the powers of the Czech Antitrust Office. The article also sets out basic information on proceedings before the Office, including reviews of its decisions and appeals. The article is available here
21.2.2008
News

Pokyny k vyplnění souhrnného hlášení k DPH

21.2.2008
News

Prominutí správního poplatku při elektronickém podání

21.2.2008
News

Zákon o územních finančních orgánech

21.2.2008
News

Sazby stravného pro rok 2007

21.2.2008
News

Částky pro stanovení výpočtových základů nemocenského pojištění

21.2.2008
News

Stanovení jednotných kurzů

21.2.2008
News

Novela předpisů v oblasti nemocenského pojištění, sociálního zabezpečení a pracovněprávní

21.2.2008
News

Průměrné ceny pohonných hmot

2.2.2008
News

Martin Šolc – Lawyer of the Year 2007

Martin Šolc, partner of Kocián Šolc Balaštík (KSB), has been elected Lawyer of the Year 2007, Commercial Law. His success means that KSB has won the award in three consecutive years - Jiří Balaštík was Lawyer of the Year 2005 (Property) and Professor Dědič was Lawyer of the Year 2006 (Commercial).
17.1.2008
News
Corporate law

KSB represented PPF Group N.V. in establishment of European Company HC SE by merger

Kocián Šolc Balaštík (KSB) provided PPF Group N.V. with legal services in Czech and EU law in regard to establishment of European Company HC SE. The procedure involved merger of Home Credit Grand Holding a.s. and HC Holding a.s. into Dutch entity HCES N.V. which changed its legal form into HC SE as a result of the merger. The transaction included resolution of employee involvement issues in the merging companies and subsidiaries in the Czech Republic, Netherlands and Slovakia.
17.1.2008
News

KSB advises during preparation of first pilot PPP project in Czech Republic – “Project for Central Military Hospital’s Staff Dormitory, Hotel and Parking Place”

Law firm Kocián Šolc Balaštík has been appointed by Hochtief CZ, a.s. as legal advisor for its consortium in connection with preparation of the Public Private Partnership (PPP) project titled “Project for Central Military Hospital’s Staff Dormitory, Hotel and Parking Place”. The project consists of financing, building and operation of Prague Central Military Hospital’s staff dormitory, hotel, parking place and related structures. The investment value of the project amounts to CZK 1 billion.
16.1.2008
News

Jan Najman is new attorney at KSB

Law firm Kocián Šolc Balaštík (KSB) extended its team in early January by attorney Jan Najman, whose practice is focused on the law of commercial companies, mergers and acquisitions and the law of commercial obligations.
17.12.2007
News

Brno Regional Court nullifies the ruling against RWE Transgas, a.s. on abuse of dominant position issued by the Chairman of the Office for Protection of Economic Competition

Kocián Šolc Balaštík acted for RWE Transgas before the Brno Regional Office against the Chairman of the Office for the Protection of Economic Competition on an appeal against a ruling on abuse of dominant position.
7.12.2007
News

VGP launched on Prague and Brussels Stock Exchanges

VGP’s share issue today is the second IPO on the Prague Stock Exchange this year offered by VGP, an industrial developer specialising in construction and lease of sites for logistics and light manufacture. Kocián Šolc Balaštík has advised VGP almost right from the start of its business activities in the Czech Republic on many matters including contract leases, land acquisitions as well as corporate and employment law.
6.12.2007
Publications

Leniency Regimes – second edition

Pavel Dejl, Pavel Nosek and Ivo Šimeček have recently contributed a chapter on the Czech Republic for publication in Leniency Regimes (pub. European Lawyer Limited) reflecting changes applied as from 28 June 2007 by the Czech Office for the Protection of Economic Competition and based on the ECN Model Leniency Program and the existing European Commission Leniency Program. Under the new regime, the Office may use its discretion to reduce fines imposed on parties to secret horizontal cartel agreements if they work together with the Office to detect and disclose such arrangements. The contribution is a full update on the position under the former Leniency Program dating from 2001. Download the chapter here
26.11.2007
News
M&A

KSB represents New Frontier Holding in acquisition of majority share in Profinit

Law firm Kocián Šolc Balaštík represented the Austrian company New Frontier Holding GmbH in purchase of sixty percent share in the Czech company Profinit, s.r.o., a provider of specialized IT solutions.
23.11.2007
News
Corporate law

KSB assists OKD in spin off of assets

Law firm Kocián Šolc Balaštík assisted OKD in a further step toward its restructuring, consisting of spinning off part of OKD’s assets into a newly established company, as part of KSB’s continuing provision of consultancy to OKD and the RPG Group, to which OKD belongs. The spin-off took effect on 31 October 2007.
19.11.2007
News
Pro bono

Charity Concert for Good Will Committee – Olga Havlová Foundation

Law firm Kocián Šolc Balaštík organises the traditional Charity Concert for the Good Will Committee – Olga Havlová Foundation. This year is the concert’s thirteenth year, taking place on Sunday 25 November 2007, 7:00 p.m., at the concert hall of the Church of St. Simon and Jude in Prague Old Town.
18.11.2007
News

KSB’s Karlovy Vary branch expands its team by new attorney

Aleš Váňa is the latest member to join the team of attorneys at KSB’s Karlovy Vary branch. He joined the firm in November and is a specialist in civil and commercial law, litigation and real estate law. Aleš Váňa graduated from the Law Faculty of Charles University in Prague in 2003 and subsequently obtained experience and knowledge in advising regional entrepreneurial entities, first as a junior lawyer and then as an attorney in 2007.
1.11.2007
News

KSB acts for Gordon Ramsay Prague Limited on the opening of the MAZE Prague

Kocián Šolc Balaštík advised Gordon Ramsay in connection with the opening of a new MAZE restaurant at the Hilton Prague Old Town (formerly Renaissance Hotel Prague). KSB's advice covered corporate and commercial, real property and labour law matters.
9.10.2007
News

KSB mixed volleyball team wins silver medal at 10th Czech Bar games

Kocián Šolc Balaštík (KSB) fought off most of the mixed volleyball competition at Nymburk (5-7 October 2007) at the 10th Bar Games to come second.
8.10.2007
News
M&A

KSB advises participants in KSK BONO and Bono Servis on disposal of their interests

Kocián Šolc Balaštík acted for participants in KSK BONO and Bono Servis on the sale of their 100% interests to MISPOL S.A., a Polish company listed on the Warsaw stock exchange and a market leader in the manufacture and distribution of canned meat, spreads, ready meals and animal feeds. The value of the transaction, also involving interests in other members of KSK BONO Holding in Poland and Slovakia, was 10 million EUR.
18.9.2007
News
M&A

KSB assists Saudi Basic Industries Corporation (acquisition of GE Plastics)

Kocián Šolc Balaštík advised <a href="http://www.sabic.com/" title="Saudi Basic Industries Corporation" >Saudi Basic Industries Corporation (SABIC) on the Czech involvement in the world-wide acquisition of the plastics division from General Electric. The acquisition was completed on 31&nbsp;August 2007. The deal is worth more than 11 billion USD.
21.8.2007
News
Competition

Heineken expands to include Krušovice brewery

Kocián Šolc Balaštík (KŠB) law office represented Brau Union AG, a member of the multinational Heineken Brewery Group, before the Czech Anti-trust Office on an application for approval of the acquisition of Královský pivovar Krušovice. KŠB's wide-ranging services were instrumental in securing unconditional approval for the merger, granted by the Office on 3&nbsp;August 2007. With the acquisition of Krušovice brewery, the Heineken Group has a major player on the market for beer production and distribution in the Czech Republic.
8.8.2007
Publications

Getting the Deal Through – Gas Regulation 2007

Václav Rovenský and Tomáš Sequens prepared the article on legal regulations and rules for the Czech gas market business. The contribution is part of the publication Getting the Deal Through – Gas Regulation 2007, issued by the London based analytical company Law Business Research. The publication summarizes national gas markets in 36 world-wide jurisdictions. The chapter covering the Czech gas industry was included in the publication for the first time since 2003, when the publication started. The contribution can be downloaded from here.
8.8.2007
Publications

Freeman’s Guide to European Property 2007

Helena Navrátilová contributed to the publication Freeman’s Guide to European Property 2007 with an article focusing on tax issues in the field of real estate in the Czech Republic. The publication analyses the details of the property market in more than thirty European countries. The contribution can be downloaded from here.
26.7.2007
News

Czech Constitutional Court cancels decisions of Supreme Administrative Court and Antimonopoly Office against Telefónica O2 Czech Republic for alleged abuse of a dominant position

Law firm Kocián Šolc Balaštík (KŠB) successfully represented Eurotel Praha (currently Telefónica O2 Czech Republic) before the Constitutional Court of the Czech Republic against the Supreme Administrative Court’s decision in favour of the Antimonopoly Office for alleged abuse of a dominant position.
16.7.2007
News
M&A

KŠB represents FONTERON HOLDINGS LIMITED in sale of majority interest in Heli Food Fresh

Law firm Kocián Šolc Balaštík represented FONTERON HOLDINGS LIMITED in sale of a majority block of shares in HELI FOOD FRESH a.s., a leader on the Czech ready-made meals market, and in establishment of a joint-venture between shareholders of this company. Bakkavor Group, a major UK provider of cooled precooked food, bought the shares and became partners with FONTERON HOLDINGS LIMITED in the joint-venture.
11.7.2007
News

KŠB is exclusive legal partner of PPP seminar on regional representation of Czech Republic in Brussels

Law firm Kocián Šolc Balaštík was the exclusive legal partner for the seminar “Use of Extra-Budgetary Financing for Regional Projects” organised by regional offices of the Czech Republic in Brussels. The seminar took place on 6&nbsp;June 2007 on the premises of the Prague House as part of an extended meeting of the national delegation at the Regions&rsquo; Committee.
14.6.2007
News
M&A

KŠB represents Heineken in acquisition of Krušovice Brewery

Law firm Kocián Šolc Balaštík provided full legal services to Heineken Group member Brau Union AG in its acquisition of a wholly-owned share in Královský pivovar Krušovice&nbsp;a.s., the biggest recent transaction on the Czech beer market.
30.5.2007
News
M&A

KSB represents Glenmark Pharmaceuticals in acquisition of Medicamenta

Law firm Kocián Šolc Balaštík represented Indian pharmaceutical company Glenmark Pharmaceuticals Ltd. in concluding a deal via its Swiss subsidiary Glenmark Holding SA to acquire a majority shareholding in Medicamenta a.s., a company carrying out business activities in the production, sale and marketing of pharmaceutical products in the Czech Republic and Slovakia.
9.5.2007
News

Kocián Šolc Balaštík once again named Czech Republic&rsquo;s Law&nbsp;Firm&nbsp;of&nbsp;the&nbsp;Year

Press release: Prague, 9 May 2007 Kocián Šolc Balaštík has been named Czech Republic&rsquo;s Law Firm of the Year 2007 in the Who&rsquo;s Who Legal Awards. This is the second consecutive time the firm has been recognised in this way, having won the inaugural award last year. In addition, Kocián Šolc Balaštík was the first independent national firm to ever win the award.
1.5.2007
News

Commission's proposed "green crimes" Directive

1.5.2007
News

New package of measures to facilitate free movement of goods in the internal market

1.5.2007
News

Commission presents proposal for Third Postal Services Directive

1.5.2007
News

Trans-European Transort Network Executive Agency (TEN-TEA) created

1.5.2007
News

Directive on shareholders' voting rights adopted at first reading

1.5.2007
News

International agreement to eliminate customs duties on approved pharmaceuticals

17.4.2007
News

Professor Dědič – one of top five most influential Czech lawyers

Professor Jan Dědič, partner of Kocián Šolc Balaštík, is one of top five most influential lawyers in the Czech Republic, according a poll organised by Hospodářské noviny.
1.4.2007
News

New Directive 77/388/EEC on system of value added tax

1.4.2007
News

The Commission decides Spanish electricity and gas regulator's powers to be contrary to EC law

1.4.2007
News

New Regulation No. 1924/2006 on nutrition and health claims made on foods

1.4.2007
News

Services Directive

1.4.2007
News

European Court of Justice's decision in Danone case

1.4.2007
News

European order for payment

1.4.2007
News

Public works contracts

1.4.2007
News

<em>De minimis</em> level for State aid to be raised

1.4.2007
News

New Directive 2006/115/EC on rental right and lending right in field of intellectual property

1.4.2007
News

New Directive 2006/116/EC on term of protection of copyright and certain related rights

1.4.2007
News

New Regulation No. 1925/2006 on addition of vitamins, minerals and certain other substance to foods

1.4.2007
News

New public consultation for simplification of Directive 76/768/EEC on cosmetics

1.4.2007
News

The Commission's new initiatives in sector of air transport

1.4.2007
News

New Energy Policy for EU

1.4.2007
News

Fine on French telecom operator confirmed

22.1.2007
News

Professor Dědič Wins 2006 Lawyer Of Year Award

A jury of professionals chose Kocián Šolc Balaštík (KSB) partner Professor <a href="./profil.php?id=2" title="Jan Dědič">Jan Dědič as 2006 Lawyer Of Year in commercial law from over 350 nominated lawyers competing in ten categories. KSB scored again in the second year of the competition organized by the Czech Bar Association and epravo.cz under the auspices of the Ministry of Justice. Last year KSB partner Jiří Balaštík won the 2005 Lawyer Of Year Award in real estate.
3.1.2007
News

Kocián Šolc Balaštík becomes member of Association for Foreign Investment

Kocián Šolc Balaštík (KSB) became a member of the Association for Foreign Investment (AFI) as of January 2007. AFI represents a select group of entities with long-term experience of the Czech business environment and providing services in key areas for investment inflow and implementation thereof. AFI’s main focus is assisting foreign investment inflow to facilitate the entry of foreign investors on the Czech market, and the group cooperates with the government agency for business and investment support, CzechInvest.
2.1.2007
News

New KSB Partners &ndash; Pavel Dejl and Václav Rovenský

The current six partners of Kocián Šolc Balaštík (KSB) elected Pavel Dejl and Václav Rovenský as new partners effective January&nbsp;1, 2007. Both attorneys have been with KSB for a long time and are respected lawyers in their field of expertise.
29.11.2006
News

Non-contractual liability of member states for damage caused to individuals by infringements of comm

Decision by European Court of Justice in Case C-173/03 Traghetti del Mediterraneo SpA, in liquidation dated 13 June 2006.
29.11.2006
News

Electronic communications and data retention

Directive 2006/24/EC of the European Parliament and of the Council of 15 March 2006 on the retention of data generated or processed in connection with the provision of publicly available electronic communications services or of public communications networks and amending Directive 2002/58/EC.
29.11.2006
News

State aid

Judgment of the European Court of Justice in Case C-66/02 Italian Republic v Commission of the European Communities dated 15 December 2005[2].
29.11.2006
News

Requirement of sufficient personal financial resources for residence permit

Judgment of the European Court of Justice in Case C-408/03, Commission of the European Communities v Kingdom of Belgium of 23 March 2006.
Nebyly nalezeny žádné výsledky.

Zprávy

Aviation and aerospace
Capital markets
Competition
Corporate law
Disputes
Employment law
Energy
Environmental Law
Financial services
Insolvency and reorganisation
Intellectual property
KŠB Institute Articles
M&A
News
Private wealth, tusts, foundations
Pro bono
Public procurement
Publications
Real estate and construction
State Aid
TMT
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9.6.2010
News

Amendment to the Commercial Code

The implemented legislative changes apply to unfair competition.
23.4.2010
News
M&A

KSB advises in acquisition of Česká mincovna

Law firm Kocián Šolc Balaštík advised the Monetica consortium in the acquisition of Česká mincovna, a.s., a traditional manufacturer of coins and medals in circulation and commemorative coins and medals.
27.2.2010
Publications

International Privacy Guide

Petra Mirovská and Drahomír Tomašuk contributed on behalf of the Czech Republic to the first issue of the new professional publication International Privacy Guide, printed quarterly by the publishing house&nbsp;West, a Thomson Reuters business. The topic of the first issue of the publication is international transfers of personal data and it includes a basic summary of the legal regulations of 26 countries regarding the transfer of personal data to foreign countries. The chapter concerning Czech legal regulations can be downloaded here.
26.2.2010
News
M&A
Energy

KSB advises in sale of energy assets from NWR Group to Dalkia ČR

KSB assisted New World Resources N.V. in the sale of energy assets concentrated in NWR Energy and its subsidiaries to Dalkia ČR.
25.1.2010
Publications

Oil Rigs and Bus Stops: A Family Resemblance. The PPP Bulletin, No. 4/2009

Christian Blatchford has contributed an article to the winter 2009 edition of the PPP Bulletin, the quarterly publication of the Public Private Partnership Association in the Czech Republic. The article compares PPP projects with other projects from the area of project finance in an attempt to throw light on an area in which for many in the Czech Republic remains unfamiliar. The article can be&nbsp;downloaded here
13.1.2010
News

Martin Krejčí becomes new KSB Partner

Martin Krejčí, a KSB lawyer of many years standing, became a partner effective 1 January 2010. The firm now has nine partners and almost seventy legal and tax specialists.
6.1.2010
News

VAT CHANGES 2010

Information on the main changes to the VAT Act effective from 1 January 2010.
4.1.2010
News

KSB recognized by IFLR 1000 as leading law firm in Czech financial law

IFLR 1000 – The Guide to the World’s Leading Financial Law Firms, an international annual publication ranking leading law firms in corporate and financial law, announced its rankings for 2010. Law firm Kocián Šolc Balaštík has been recommended in all categories ranked by IFLR 1000.
23.12.2009
No items found.

Internet gambling restrictions permissible

Judgment of the Court of Justice in Case C-42/07- reference for a preliminary ruling - Liga Portuguesa de Futebol Profissional, Bwin International Ltd, (Bwin) vs. Departamento de Jogos da Santa Casa da Misericórdia de Lisboa &nbsp;(Santa Casa)
23.12.2009
News

Free-of-Charge Allowances in the New Emission Trading System

At the end of September, the European Commission published a draft list of sectors which could receive free of charge up to 100% of emission allowances even after 2013; in 2013, the European greenhouse gas emission trading system is to enter into a new stage in which the free-of-charge allocation of allowances based on the National Allocation Plans shall be replaced by the purchasing thereof in Europe-wide auctions. However, revised Directive 2003/87/ES approved within the climate-energy package in December of last year counts on some exemptions. One of them shall apply to industries which may, as a result of more stringent constraints, move outside of the EU to third countries in which climate protection is not that strict; such industry relocation would not only result in a loss for the EU economy but it would also negate the endeavours for emission reduction which would increase uncontrollably in such third countries.
23.12.2009
News

Scheme for greenhouse gas emission allowance trading

Decision by the Court of First Instance dated 23 September 2009 re. T‑183/07 Poland v the Commission of the European Communities and re T‑263/07 Estonia v the Commission of the European Communities The Court of First Instance stated in the decisions referred to above that the European Commission has no right to order Member States on the amount of greenhouse gas emission allowances that they may issue in a given period. The Commission is therefore afraid of the verdict having a substantially adverse impact on the EU&nbsp;strategy for combating climate changes.
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,&nbsp; 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,&nbsp; 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&nbsp;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.&nbsp;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. &nbsp;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 &nbsp;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, &nbsp;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&nbsp;has expanded its legal team by three&nbsp;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.&nbsp;
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.&nbsp;
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&nbsp; particular conduct.&nbsp;
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.&nbsp;
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).&nbsp;
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.&nbsp;
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&nbsp;has been providing&nbsp;legal consultancy to its long-term client, the globally operating Canadian company MAGNA, in&nbsp;its acquisition of Cadence Innovation, s.r.o. The company belongs to the largest world-wide manufacturers of car parts&nbsp;and&nbsp;is established&nbsp;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
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