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6.5.2022
News
Real estate and construction

VGP leases warehouse space to Hella Autotechnik

Jiří Horník and Richard Hamran assisted VGP Group, a leading developer and owner of logistics parks, in leasing commercial space with a total area of more than 49,000 sqm in the VGP Park Olomouc.
27.4.2022
News
Real estate and construction

KSB Advises on PPF Real Estate’s and Karlín Group’s Joint Entry into Prague’s Residential Development Market

PPF Real Estate – PPF Group’s real estate division – is entering the residential property market in Prague in cooperation with Karlín Group. The agreement between the two companies includes development projects that involve a total investment worth CZK 4 billion.
25.4.2022
News

Dagmar Dubecká on the prestigious list of IFLR Women Leaders for the second time

The British rating agency IFLR1000, which compiles annual international comparative rankings of law firms, has included KSB partner Dagmar Dubecká in its Women Leaders list, as it did last year.
22.4.2022
News
M&A

KSB assisted with the Rockaway’s investment into Alkohol.cz

KSB's team (Václav Rovenský and Josef Kříž) assisted Alkohol.cz with Rockaway’s strategic investment, particularly in connection with due diligence and negotiating transaction documentation.
20.4.2022
News

Also in 2022, Legal 500 recommends KSB in ten areas

Following Chambers Europe, KSB is again among the top-ranked law firms in the Czech Republic, this time according to the latest publication "The Legal 500 EMEA 2022". We succeeded in the following ten of the eleven practice areas assessed.
28.3.2022
News
Corporate law

Advising on Squeeze-Out of O2 Czech Republic’s Minority Shareholders

KSB's team (Petr Kasík, Martin Kubík, Josef Kříž and Filip Řehák) advised PPF Group on the approximately year-long squeeze-out of O2 Czech Republic’s minority shareholders.
25.3.2022
News
Publications

KŠB was invited to be the exclusive country contributor to the CEE Legal Matters Comparative Legal Guide: Oil & Gas 2022 for Czech Republic.

The CEE Legal Matters Comparative Legal Guide: Oil & Gas 2022 presents the most important legal information related to the Oil & Gas sector, structured in a practical way, which allows both focus on a single jurisdiction and cross-referencing and comparisons between the legal approaches in the various jurisdictions. The Czech Republic chapter was co-authored by Václav Rovenský and Tomáš Sequens, both KŠB partners, and Lucie Patková, former KŠB associate.
18.3.2022
News

Chambers Europe 2022 recommends KSB in nine areas

The renowned British rating agency Chambers and Partners recommends KSB and its representatives in nine areas in its current annual report "Chambers Europe 2022".
15.3.2022
News
Real estate and construction

KSB Advises ARETE on Developing New Logistics Park

Arete Group’s third fund, which focuses on industrial and logistics assets in the CEE region, is starting construction on a new logistics park in Valašské Meziříčí.
7.3.2022
News
M&A
TMT

Solitea Continues To Acquire Businesses in 2022

After two years of negotiations, Solitea has successfully closed one of its largest deals and acquired a 100% stake in Techniserv IT, a leading Czech software company that provides large software solutions to large organizations and government agencies (such as the Czech Railways Group, the Czech General Customs Directorate, the Ministry for Regional Development, and the Brno Magistrate).
2.3.2022
News
Private wealth, tusts, foundations

New Charity 3WFoundation Founded

After advising on setting up the Experientia Foundation, the Vlček Family Foundation, and the Libor Malý A Foundation, KSB's team provided further legal and tax advice on another private philanthropy project.
1.3.2022
News
Financial services

KSB Advises Solitea Group

KSB has advised Solitea, one of the largest software companies in Central Europe, on obtaining financing totalling approximately EUR 70 million. The funds will be used primarily to refinance Solitea’s existing loans.
28.2.2022
News

KSB scores in Chambers Global 2022

The renowned British rating agency Chambers and Partners once again recommends Kocián Šolc Balaštík in its current publication “Chambers Global 2022”.
23.2.2022
News
Corporate law
Intellectual property

KSB Advises Mattoni 1873 on Joint Project with Budějovický Budvar

KSB's team (partner Dagmar Dubecká and associates Milada Kürtösiová and Ján Béreš) provided Mattoni 1873 with comprehensive legal advice during negotiations with Budějovický Budvar regarding a unique project for the production of flavoured non-alcoholic beer.
21.2.2022
News
Real estate and construction

KSB Advises Leading Developer VGP

KSB's team (in particular partner Jiří Horník and senior associate Richard Hamran) has advised VGP Group, a leading developer and owner of logistics centres, on a long-term basis, primarily on acquiring, selling, operating and leasing warehouses, manufacturing premises and office buildings.
14.2.2022
News

KSB Nominated for Chambers D&I Awards: Europe 2022

Chambers and Partners, the prestigious international rating company that compiles annual rankings of the world's best law firms, has nominated KSB for this year's Chambers D&I Awards in the Diversity & Inclusion: Outstanding Firm category. The awards ceremony will take place in Madrid on 22 April.
9.2.2022
News
Financial services

KSB Advises on Transformation of 3M FUND MSI

KSB’s team led by Vlastimil Pihera advised on the transformation of 3M Fund MSI into a SICAV investment fund – a fairly rare transaction in the Czech Republic.
31.1.2022
News
Employment law

Employment Law Alliance webinar - Year in Review 2022

The Employment Law Alliance (ELA), of which KSB has been a long-term member, has once again prepared a series of webinars from the "Year in Review" series, in which labor law experts from various jurisdictions will jointly evaluate 2021 in labor law across Europe and share their views and estimates for year 2022.
17.1.2022
News
Real estate and construction

KSB Advises B&K Nemovitostní investice

KSB’s team led by Partner Jiří Horník, with assistance from senior associate Jakub Porod and junior lawyer Zuzana Slabá, advises  B&K Nemovitostní investice on due diligence, negotiates and drafts transaction documentation and, in some cases, assists with further developing the acquired properties.
14.1.2022
News
Pro bono

Fundraising for staff of covid departments at the Motol University Hospital

In order to appreciate and encourage the nurses and brothers in the current difficult times, we organized a pre-Christmas fundraising at KŠB for the staff of the covid departments of the Motol University Hospital.
11.1.2022
News
Publications

Applicability of Small Size Premiums in Determining the Fair Value of Shares and Appropriate Consideration

KSB Partners Prof. Jan Dědič and Jan Lasák and junior lawyer Filip Buchta recently co-authored the article “Applicability of Small Size Premiums in Determining the Fair Value of Shares and Appropriate Consideration”.
8.1.2022
News

10th Annual Contract Competition Held

ELSA, the largest independent association of law students in the world, and law firm KŠB recently held the 10th annual Contract Competition.
5.1.2022
News
Environmental Law

KSB Defends Another Biomass Heating Plant Against Lesy ČR’s Damages Claim

KSB’s environmental law and litigation specialists have scored a significant victory, as another operator of a biomass heating plant does not have to pay damages to state enterprise Lesy České republiky (the Czech Forestry Agency) for immission damage to forests.
4.1.2022
News

Tomáš Sequens Named New KSB Partner

As of 1 January 2022, KSB counsel Tomáš Sequens became a new partner.
10.12.2021
News
M&A
Real estate and construction

Advice to JTZE a.s. on Investments in Agriculture

JTZE a.s. (J&T Zemědělství a Ekologie), a J&T Real Estate group company that specialises in agricultural investments, has, over the past few months, acquired shares in several companies that are engaged in primary agricultural production. The latest acquisition was Farma Neznašovy a.s., which was preceded by the purchase of Statek Sobětice s.r.o. and Žďár Chudenice s.r.o. The total volume of cultivated land is more than 5,600 hectares.
8.12.2021
News

KSB Succeeds Among Czech Business Leaders

KSB made a mark in its first year of participating in the Czech Leaders Awards and took second place in the Capital City of Prague. “We are extremely grateful to have achieved such success, especially in the current complicated times,” said Jiří Horník, who attended the award ceremony on KSB’s behalf.
6.12.2021
News
M&A
TMT

KSB Advises Titans Freelancers on Acquiring Stake in Bridgewater

KSB's team led by Drahomír Tomašuk, Ján Béreš and Ondřej Siška advised Titans Freelancers, a Slovak company engaged in outsourcing IT specialists, on the acquisition of a 75% stake in Czech-based Bridgewater. Bridgewater helps companies find suitable IT specialists and IT professionals find new career opportunities and challenges. It also focuses on non-IT staff, especially middle and senior management positions, and hard-to-fill jobs.
3.12.2021
News
M&A
Real estate and construction

Advising the Focus Estate Fund on the sale of retail parks

KŠB’s team (Jiří Horník, Luděk Vrána, Jakub Porod, Zuzana Slabá) assisted the Focus Estate Fund in the sale of the Centro Ostrava Retail Park in Ostrava and Most Retail Park in Most to the Czech investment group DRFG. The tenants of the spaces in the retail parks include JYSK, Mountfield, Sportisimo and Breno Carpets. The total leasable area of ​​both parks is 14,170 m2.
29.11.2021
News
M&A

Advising Aramark on the Acquisition of Sodexo’s Catering Division

KSB’s team led by Jan Lasák recently advised on a major acquisition in the catering services sector. The client, Aramark, acquired the catering division of the Czech branch of French company Sodexo, which is engaged in providing services in the areas of canteens, catering, full-service building management, and the operation of food and beverage vending machines. As a result, Aramark has consolidated its leading position on the catering market in the Czech Republic.
12.11.2021
News

Assistance to AI Startup Incubator in investment in AssetFloow

KŠB‘s team specializing in venture capital investments (Ota Mach and Josef Kříž) assisted AI Startup Incubator (a fund focused on AI start-ups) in investing in AssetFloow.
10.11.2021
News
Real estate and construction

KSB Advises ARETE on Closing Its Real Estate Sub-Fund

The ARETE investment and real estate group, which includes funds that invest in real estate, has successfully closed the investment cycle of its ARETE INVEST CEE II sub-fund. Following the EUR 113.2 million sale of the sub-fund's portfolio to Cromwell European REIT (CEREIT) in March (KSB advised ARETE on the transaction as well), the company has paid all investors in the sub-fund and settled the bank financing liabilities.
8.11.2021
News

Vlastimil Pihera to speak at the CASHLESS FUTURE conference

Hospodářské noviny is planning the 8th annual conference on a cashless society and business CASHLESS FUTURE. This year's event will focus on digital services, changes in AML and cryptocurrencies, and other financial services that are shaping the financial sector today.
1.11.2021
News

KSB Sits Out of the Czech “Law Firm of the Year” Awards

In response to epravo.cz’s announcement of the results of its Law Firm of the Year competition, we would like to point out that KSB has refrained from taking part in the competition for the last six years and this year is no different.
25.10.2021
News
M&A

Ostrava-based EKOVA ELECTRIC Becomes Part of ŠKODA TRANSPORTATION

In 2020, KŠB started advising ŠKODA TRANSPORTATION a.s. on the acquisition of a 100% stake in EKOVA ELECTRIC a.s., an Ostrava-based company engaged in manufacturing, upgrading and servicing trams, trolleybuses and electric buses (more information here).
15.10.2021
News

Contract Competition 2021

14.10.2021
News
Real estate and construction

KSB Advises ARETE on Acquisition of Site in Plzeň - Borská pole Industrial Zone

KSB's team (Jiří Horník, Jakub Porod and Zuzana Slabá) advised ARETE Group on the acquisition of a 45,666 sqm site in the Plzeň - Borská pole industrial zone.
24.9.2021
News

Venture Capital Deal: AI Startup Incubator has invested in OpenRefactory

The KŠB team specializing in venture capital investments (Ota Mach and Josef Kříž) advised AI Startup Incubator (a fund focused on AI start-ups) on investing in OpenRefactory.
21.9.2021
News
M&A

Solitea acquired another IT company with the assistance of KŠB - PRYTANIS, a.s.

The KŠB team led by Drahomír Tomašuk assisted Solitea in the acquisition of a 100% stake in PRYTANIS a.s., a leading Czech supplier of information systems for road hauliers, passenger transport operators and forwarding and logistics companies.
14.9.2021
News
Pro bono

26th 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, 21 November 2021 at 19:00 at the Church of St. Simon and St. Jude in Prague’s Old Town.
9.9.2021
News
M&A

KSB Advises on J&T BANKA’s Partnership with AMISTA

KSB's long-standing client, J&T Banka, has entered into a strategic partnership with Amista, the largest Czech manager and administrator of qualified investor funds. In addition, J&T Banka took over a 9.9% stake in Amista.
19.8.2021
News
Real estate and construction

KŠB assisted the ARETE group in another investment

The KŠB team (Jiří Horník, Dana Jacková) advised the third fund of the ARETE group, which focuses  on industrial and logistics assets, on the purchase of a facility complex near Beroun. The complex is used for the production and storage for the Czech company Hronovský s.r.o. The financial volume of the transaction was close to EUR 10 million.
26.7.2021
News
Capital markets

Advice on 3M Fund MSI’s billion-crown bond issue

KSB’s team consisting of Josef Kříž, Vlastimil Pihera and Martin Krejčí provided advice on the issue of senior bonds by 3M Fund MSI, with the issue value reaching one billion crowns (with the possibility of an additional increase to two billion crowns). The bonds were successfully admitted for trading on the Prague Stock Exchange.
19.7.2021
News
Financial services

Advising the ARETE Group on financing

The KŠB team advised the ARETE investment and real estate group on securing EUR 30 million in financing from Raiffeisenbank. The funds will be used to accelerate the growth of ARETE INDUSTRIAL SICAV fund's portfolio through selected acquisitions and new construction of industrial real estate projects.
19.7.2021
News
M&A
TMT

Assistance to Solitea in the acquisition of Mainstream

KŠB (partner Drahomír Tomašuk and lawyer Ján Béreš) assisted Solitea in the acquisition of a 100% stake in Mainstream Technologies, s.r.o. and its parent company Powerstream, a.s., being one of the most important partners of the global technology company Microsoft in their branch of business. For Solitea, this is the seventh acquisition of a major partner of Microsoft.
2.7.2021
News
M&A

Assistance in the sale of Profimedia.CZ

The KŠB team (Josef Kříž and Drahomír Tomašuk) provided legal advice to the seller in the sale of the Profimedia.CZ group, which offers images from all over the world. The acquisition includes the parent company Profimedia based in the Czech Republic and its subsidiaries in Hungary, Croatia and Romania.
30.6.2021
News
M&A

KŠB assisted Webglobe in the acquisition of savana.cz

The KŠB team (Drahomír Tomašuk and Jana Guričová) assisted in yet another significant acquisition in the field of IT. Our client, the company Webglobe, acquired the company savana.cz which provides domain registration services, web hosting and server hosting.
22.6.2021
News
M&A
TMT

KŠB assisted Sandberg Capital in the acquisition of DAKTELA

The KŠB team led by Drahomír Tomašuk and Ján Béreš assisted in another significant acquisition in the field of IT. Through the new Sandberg Investment Fund II, the client, Sandberg Capital, acquired a 40% stake in the Czech technology company DAKTELA, which provides comprehensive solutions for contact centres and communication with customers.
16.6.2021
News

KSB Partners with the Chemical Industry Association

Kocián Šolc Balaštík has become a proud partner of the Czech Chemical Industry Association (SCHP), a professional association of businesses and institutions engaged in the chemical industry. Since 1992, the SCHP has been involved in co-creating a favourable business environment and has advocated the development of the Czech chemical industry.
7.6.2021
News
Capital markets

Advisory to J&T IB Capital Markets on bond issuance

KSB’s team led by Vlastimil Pihera advised J&T IB Capital Markets on the issuance of senior bonds by Alpha Quest Funds SICAV p.l.c. with the total nominal value of CZK 500,000,000 and Fraternity Funds SICAV p.l.c. with the total nominal value of CZK 400,000,000.
24.5.2021
News

Dagmar Dubecká Named Among IFLR’s Women Leaders for 2021

IFLR1000, the British rating agency that compiles annual international comparative rankings of law firms, has included KSB partner Dagmar Dubecká in its Women Leaders 2021.
21.5.2021
News
M&A
TMT

KSB Advises Jamf on Acquisition of Wandera

KSB has once again expanded its reach in IT acquisitions by advising US software company Jamf, which developed Jamf Pro, an application used to configure and automate IT management tasks for macOS, iOS, iPadOS and tvOS devices. KSB advised Jamf on its acquisition of Wandera, a software developer that provides protection against security threats on mobile devices to businesses all around the globe.
11.5.2021
News
Financial services

KŠB Advises on Financing Twisto

KŠB (Ivo Průša and Martin Krejčí) assisted J&T Bank in financing the development of Twisto. In addition to J&T Bank, which provided a loan of CZK 450 million, the financing was also provided by venture debt fund Orbit Capital and its subfund Conseq Venture Debt, which is jointly operated by investment platform Enern and investment company Conseq.
7.5.2021
News

Luděk Vrána Joins KŠB

Kocián Šolc Balaštík has added a new asset to its team of lawyers as Luděk Vrána joined the firm as a counsel on 1 May 2021.
15.4.2021
News

The Legal 500 2021 Recommends KŠB in Ten Areas of Expertise

After being awarded by Chambers Europe, KŠB also defended its position among the best-rated law firms in the Czech Republic in the latest publication “The Legal 500 EMEA 2021” from renowned British rating company “The Legal 500”, succeeding in ten of the eleven rated areas:
30.3.2021
News

Webinar in cooperation with Legal 500

KŠB, in cooperation with the prestigious rating agency Legal 500, organized a webinar on the topic of Post Covid M&A - A new normal for navigating the transactional landscape in the Czech Republic?
22.3.2021
News
M&A

KSB Advises Heureka Group on Acquisition of Dataweps

KSB’s team, led by partner Petr Kasík and lawyer Jakub Porod, advised Heureka Group in the acquisition of a 100% stake in Dataweps, a Brno-based technology company engaged in product data analytics and e-shop automation.
18.3.2021
News

Chambers Europe Recommends KSB in Nine Areas in 2021

In its latest yearbook "Chambers Europe 2021", the renowned British rating company Chambers and Partners recommends KSB in the following areas:
15.3.2021
News
Private wealth, tusts, foundations

The Vlček Family Foundation

On 10 March 2021, Katarína and Ondřej Vlček established the Vlček Family Foundation with the primary aim of supporting palliative care for children. The founders are investing CZK 1.5 billion in the foundation, which makes it one of the largest philanthropic projects of its kind in the Czech Republic. The Vlčeks outlined details about the Foundation in an interview on Reportér magazine’s podcast, on DVTV and in Deník N.
12.3.2021
News
Real estate and construction

ARETE INVEST CEE II’s Portfolio of Logistics Parks Sold with KŠB’s Assistance

The ARETE real estate investment group completed the sale of a complete portfolio of the ARETE INVEST CEE II sub-fund to Cromwell European REIT (CEREIT) for EUR 113.2 million (CZK 3 billion). Cromwell is a publicly traded real estate investment trust listed on the Singapore Stock Exchange. We have already disclosed information on the transaction here. 
9.3.2021
News

KSB scores in Chambers Global 2021

The renowned British rating agency Chambers and Partners once again recommends Kocián Šolc Balaštík in its current publication “Chambers Global 2021”.
8.3.2021
News
M&A
TMT

Solitea continues with acquisitions, again with the assistance of KŠB

The KŠB team led by partner Drahomír Tomašuk and lawyer Ján Béreš assisted the Solite holding in another acquisition this year. Solitea has acquired 100% of the Czech-Slovak group D3Soft, which has been specializing in its own development and implementation of a CRM system and energy solutions for medium and large companies for almost 20 years.
3.3.2021
News

Dagmar Dubecká and Sylvie Sobolová in the prestigious ranking of the Top 100 women in the Czech and Slovak legal business

KŠB partners Dagmar Dubecká and Sylvie Sobolová are among the leading representatives of Czech and Slovak law in the ranking of the Top 100 women in the Czech and Slovak legal business. Dagmar succeeded in the category of Mergers and Acquisitions, Sylvie in the category of Intellectual Property.
23.2.2021
News
M&A
TMT

KŠB assisted its long-term client, Solitea, in its next acquisition

The KŠB team, led by partner Drahomír Tomašuk and lawyer Ján Béreš, assisted Solitea in the acquisition of the IT Services division of the Czech company AspectWorks, in particular by conducting a due diligence and preparing and negotiating acquisition and post-acquisition agreements.
22.2.2021
News

Dagmar Dubecká Ranked Once Again Among the TOP Women in the Czech Republic

The partner of the law firm KŠB Dagmar Dubecká is once again placed in the traditional ranking of TOP women in the Czech Republic, namely in the category of Top women business - businesswoman.
16.2.2021
News
M&A

Acquisition of apt Group by Inner Mongolia Mengtai Listed in Deals of the Year 2020

The acquisition of the apt group by China-based Inner Mongolia Mengtai has been included on the prestigious Deals of the Year 2020 list, which is published annually by the China Business Law Journal.
1.2.2021
News

Petr Kasík Named the New Managing Partner of KŠB

On 1 February 2021, Petr Kasík became the new managing partner of Kocián Šolc Balaštík, taking over the role from Dagmar Dubecká.
27.1.2021
News
Pro bono

Online Fundraising for the Good Will Committee – Olga Havel Foundation

To date, Kocián Šolc Balaštík has organized 25 charity Advent concerts for the benefit of the Committee of Good Will – Olga Havel Foundation (CGW OHF).
19.1.2021
News
M&A
TMT

KŠB Advises on Sale of DAQUAS

KŠB’s team, led by partner Drahomír Tomašuk and senior associate Ján Béreš, advised on the sale of DAQUAS, a company engaged in providing full-service IT consulting, acquisition and management of software licenses, use of Microsoft Online Services, and more.
14.1.2021
News

Devátý ročník Contract Competition za námi!

21.12.2020
News
Real estate and construction
Tax

KŠB Advises J&T Banka on HQ Acquisition

KŠB team advised J&T Banka on the acquisition of Rustonka Development II, which owns the Rustonka office building in Karlín, Prague, with over 17,900 m2 of leasable area. In September 2020, the bank moved its headquarters to the building together with approximately 750 employees. The value of the transaction is approximately EUR 80 million.
17.12.2020
News
Real estate and construction

KŠB Advises ARETE INVEST on the disposal of a logistics parks portfolio

KŠB advised ARETE INVEST’s real-estate fund on one of the largest Czech-Slovak real estate transactions this year.
23.11.2020
News
Aviation and aerospace

Comprehensive legal advice on financing for the purchase of two LET Aircraft Industries L-410 UVP E-20 aircrafts

Kocian Solc Balastik’s aviation team, led by partner Jiří Horník and senior associate Ivo Průša, has provided comprehensive legal advice to ING Bank Śląski (ING group) on financing for the purchase of two LET Aircraft Industries L-410 UVP E-20 aircrafts, which also included special packages containing radars, long-range observation systems, SATCOM datalink, automatic vessel ID system, rescue equipment allowing for carrying out maritime patrol tasks, along with hardware for supporting maritime SAR operations.
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1.8.2008
News

Income Tax

The Ministry of Finance of the Czech Republic published Guideline No. D – 317 on average prices of fuel for calculating the amount of compensation for expenses in consumed fuel to determine income tax bases for the 2007 taxation period. Taxpayers can use these prices to determine tax expenses for consumed fuel, unless they apply expenses in documented amounts.
1.8.2008
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.
1.8.2008
News

Real Estate Tax

30.7.2008
Publications

Mutual Funds– the Czech Approach. Euro, No. 30/2008

Vlastimil Pihera, attorney, and Helena Navrátilová, tax advisor at the law firm Kocián Šolc Balaštík, published an article in Euro concerning the current legal interpretation of ownership relations in respect of mutual funds and its impacts on application of the corporate income tax. To download the article click here
25.7.2008
News

Commission launches consultations on simplified rules for block exemptions

The Commission has presented for consultations new draft rules to exempt more subsidies from the notification obligation laid down in EC Treaty state aid rules.
25.7.2008
News

ECJ VAT Case law

At the end of March the ECJ issued its decision in Case C-111/05 Aktiebolaget NN on several preliminary matters relating to application of VAT on the laying of seabed optic cables. Although the issues arising particularly concern the criteria according to which supplies of goods may be distinguished from the provision of services, and how to determine the place of supply when providing line constructions, the ECJ decision also has general application.
25.7.2008
News

Consolidated text of the modernized “Television without Frontiers Directive” available

The Commission adopted on 29 March an amended proposal of the modernised "Television without Frontiers" Directive. After a first reading in the Parliament and the Council, there is now broad agreement with the Commission about the future legal framework for the EU's audiovisual sector.
25.7.2008
News

Liberal decision of the Commission on gambling

The Court of Justice (“ECJ”) ruled that the Italian criminal penalties for the collecting of bets by intermediaries acting on behalf of foreign companies are contrary to community law (Joined Cases C-338/04, C-359/04, C-360/04 Placanica of 6 March 2007).
25.7.2008
News

Motor insurance for all passengers (new decision of the ECJ)

The ECJ ruled that the Third Motor Insurance Directive (Third Council Directive 90/232/EEC of 14 May 1990 on the approximation of the laws of the Member States relating to insurance against civil liability in respect of the use of motor vehicles) requires all passengers to be covered by motor insurance and therefore Irish national legislation, which precludes those not travelling in a part of a vehicle designed to carry passengers, is incompatible with Community law.
25.7.2008
News

Directive on cross-border mergers in banking, insurance and securities adopted in first reading

In March European Parliament (“Parliament”) gave a first reading of a directive to change European rules on how mergers of banks and other financial institutions are approved. Since the text adopted has already been agreed in informal negotiations with the Council, the proposals should enter force without further changes.
24.7.2008
News

Beginning January 2008, VAT Payers May Apply for Group Registration

The effectiveness of the Act on Stabilization of Public Budgets will provide VAT payers with the alternative of group VAT registration. The group registration makes it possible for affiliated parties (companies) to act as a single VAT payer with a single registration number for VAT purposes. This means that an entire corporate group will only file a single VAT tax return. Supplies delivered between individual group members are not deemed to constitute taxable supplies. The first groups of VAT payers shall be registered effective 1 January 2009, provided that they apply by 31 October 2008 at the latest.
24.7.2008
News

Instruction No. D-312

The Ministry of Finance issued Instruction No. D-312 regarding application of reduced tax rates to license fees under the Double Taxation Treaty between the Czech Republic and Belgium. The Instruction sets forth, for the purposes of the aforementioned Treaty, that the listed license fees may be taxed in the country of origin by not more than 5 percent of the gross amount thereof. The Instruction shall take effect on 1 January 2008.
24.7.2008
News

Deadlines in Tax Proceedings

In connection with the tax entity’s authorization to draw attention to the tax administrator’s inactivity on the grounds of processing filings by tax entities by reasonable deadlines, the Ministry of Finance issued Instruction No. D-308 imposing deadlines on tax administrators for processing filings by tax entities and other parties involved in tax proceedings.
24.7.2008
News

Client Workshop – pharmaceutical law after 1 January 2008

On 29 November 2007, law firm Kocián Šolc Balaštík (KSB) organized for its clients - major pharmaceutical companies - a seminar focused on important legislative changes in the pharmaceutical industry taking effect in early 2008. The lecturers at the seminar were Hana Heroldová, an attorney specializing in the area of pharmaceutical law, and Václav Pátek, tax expert at KSB.
24.7.2008
News

Double Taxation Treaty between the Czech Republic and Bosnia and Herzegovina

The Ministers of Finance of the Czech Republic and Bosnia and Herzegovina signed a Double Taxation Treaty between both countries on 20 November 2007. The Treaty shall result in termination of the provisions of the Double Taxation Treaty between the Czechoslovak Socialistic Republic and the Socialistic Federative Republic of Yugoslavia (applicable to Income and property taxes) signed in Prague on 2 November 1981. The termination shall take effect on the effective date of the new Treaty. This may occur on 1 January 2009 if the following legislative procedure in both countries proceeds in the standard manner.
24.7.2008
News

2008 Foreign Currency Food Allowance Base Rate

The Ministry of Finance issued Decree No. 338/2007 – on calculation of base rates of food allowances in foreign currency for 2008. Decree No. 549/2007 Coll., on base rates of food allowances in foreign currency for 2007 shall terminate on the new Decree’s effective date, i.e. 1 January 2008.  
24.7.2008
News

Altered Interest Rate

The banking council of the Czech National Bank decided to raise the 2T repo rate to 3.50%, the discount rate to 2.50% and the Lombard rate to 4.50% at its meeting held on 29 November 2007. The new rates shall apply beginning 30 November 2007.
24.7.2008
News

International Agreements

24.7.2008
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Amendments to the income taxes act (ITA)

Parliament is currently debating several proposed amendments to ITA. The most important of these are the proposals set out in the "Government draft of the Act on stabilisation of public budget" ("Government Draft"). Amended several times, the Government Draft is now on its second reading and is likely to experience further amendment.
24.7.2008
News

Judicature by the Constitutional Court Applicable to Malice in Law

At the end of October 2007, the Constitutional Court denied a constitutional complaint against a decision by the Supreme Administrative Court and admitted that “malice in law” may be applied to tax issues.
24.7.2008
News

Other changes

24.7.2008
News

Changes in Social Security and Health Insurance

The Chamber of Deputies of the Parliament of the Czech Republic recently adopted the Act on Stabilization of Public Budgets, which the Senate of the Parliament of the Czech Republic is expected to approve in September 2007. The Act applies to sickness, pension and health insurance in the Czech Republic as well.
24.7.2008
News

Personal income tax

24.7.2008
News

Common provisions

24.7.2008
News

Corporate income tax

24.7.2008
News

Public Budget Stabilisation Act

On 16 October 2007, the Act No. 261/2007 Coll,  the Public Budget Stabilisation Act (the "Amendment") was published. This Act also amends the Income Tax Act ("ITA"). The most important changes, effective from 1 January 2008, are summarised below.
24.7.2008
News

Other changes arising from the Act on stabilisation of public budgets

As set out in earlier issues of Tax News, the Act on stabilisation of public budgets has amended many provisions of law hitherto in force. Some of these changes are detailed below.
24.7.2008
News

Recent ECJ Decisions

24.7.2008
News

Amendments to the act on reserves

Clear provision will be made for the creation of reserves by successor companies following a corporate transformation. The successor company will continue to create reserves and make provisions/ adjustments as commenced by the company being split up on the conditions that would have applied to such company had the transformation not taken place, but only insofar as such creation of reserves pertains to the portion of business assets passing to the successor company.
24.7.2008
News

Proposed Amendments to the Income Taxes Act

24.7.2008
News

Waiver of Default Interest

24.7.2008
News

Pending Amendment to the Value Added Tax Act

The most significant change to be introduced by the amended VAT Act is the increase of the reduced 5% VAT rate to 9%. No transitory provisions have been proposed to restrict pre-supplying or payment of advances prior to the increase.
24.7.2008
News

List of legal forms of companies on the Finance Ministry's web pages

24.7.2008
News

Draft Amendments

24.7.2008
News

Kocián Šolc Balaštík Awarded Law Firm of the Year

24.7.2008
News

Instruction to implement international agreements

18.7.2008
News
M&A

KSB acts for Cramo Plc on its acquisition of Techniline spol. s r.o.

Kocián Šolc Balaštík advised Finnish company Cramo Plc on its acquisition of a 100% holding in Techniline spol. s r.o., the largest equipment rental services company in the Czech Republic, also operating in Slovakia.
18.7.2008
News

Recast of the Sixth Directive

On 1 January 2007 new EU Directive [1] ("Recast") governing the common system of value added tax in all Member States came into force. The Recast supersedes the Sixth Directive [2]. The Recast was issued to simplify the Sixth Directive which, owing to numerous amendments, had become difficult to follow, unsystematic and often incomprehensible.
18.7.2008
News

Export Control System comes into operation in the Czech Republic

Pursuant to amendments to Commission Regulation no. 2454/93 on implementation of the customs codex, as from 1 February 2007 the Czech Republic commenced operation of the Export Control System (ECS) (e-Export), intended to facilitate rapid electronic exchange of information between customs authorities in Member States on exports to third countries.
18.7.2008
News
M&A

KSB advises gas company MOL Plc. on its acquisition of I & C Energo

Kocián Šolc Balaštík assisted Hungarian gas company MOL Plc. with acquiring a 100% stake in I & C Energo from ČEZ. I&C Energo is engaged in providing system control and industrial IT control services.
18.7.2008
News

Increased state aid "de minimis" threshold

European Commission Regulation no. 1998/2006 has increased the de minimis state aid threshold (a sum which, if exceeded, gives rise to the presumption that state aid can distort economic competition and is therefore incompatible with the common market).
18.7.2008
News
Competition

Merger of the two largest producers of mineral water in the Czech Republic has been approved – KSB represents Karlovarské minerální vody, a.s.

The largest producer of mineral and spring water in the Czech Republic, Karlovarské minerální vody, a.s., has received after a long “fight” with the Antimonopoly Office of the Czech Republic (ÚOHS) a decision on approval of the merger with Poděbradka, a.s., the second largest producer operating in the same industry.
18.7.2008
News

Chamber of Deputies: amendments to the Act on Accounting approved

The amendments repeal the obligation to publish final accounts in electronic form in the Commercial Bulletin, since final statements are available in digital format in the documents registries of the Commercial Register.
18.7.2008
News

Finance Ministry instructions D-190, D-223 and D-267 replaced with instruction D-300

The instruction sets out the Czech Finance Ministry's interpretation of some provisions of ITA. Although not binding on tax payers, the instruction is likely to be followed by tax authorities. The wording of instruction D-300 has been more closely specified and now reflects the comments of the Czech Chamber of Tax Advisors and other conclusions approved by the Co-ordination Committee of Czech Finance Ministry and Czech Chamber of Tax Advisors.
7.7.2008
News
M&A

Heineken Group completes acquisition of Drinks Union

Heineken Group with KSB as its legal counsel completed the acquisition of Drinks Union in the Czech Republic on 1 July 2008. The transaction involved transfer of a majority stake in Drinks Union, and, indirectly, a stake in Pivovar Louny, to Královský pivovar Krušovice a.s., a Heineken Group’s flagship in the Czech Republic.
7.7.2008
News
Corporate law

KSB assists with STAROBRNO squeeze-out

Kocián Šolc Balaštík, as long-term legal counsel to the Heineken Group, assisted the global brewery group with a squeeze-out in STAROBRNO, a.s., a member of the Heineken Group. It was the first squeeze-out to be carried out under the newly applicable legislation effective since 1 April 2008, which no longer requires consent from the Czech National Bank to squeeze-outs carried out by companies that do not issue listed participation securities.
7.7.2008
News
M&A

KSB assists OKD in combined spin-off

Kocián Šolc Balaštík, as long term legal counsel to New World Resources, assisted NWR Group member OKD, a.s. with restructuring that involved spin-off via combining a merger and foundation of new companies.
7.7.2008
Publications

Prospectus for the Public Offering of Securities in Europe

Petr Kasík and Vlastimil Pihera contributed a chapter dealing with the transposition of the Prospectus Directive into Czech law to Prospectus for the Public Offering of Securities in Europe, Volume I. The title was published by Cambridge University Press as a part of the “Law Practitioner Series” and contains a summary of the provisions of Directive No. 2003/71/EC on the prospectus and on the transposition thereof in fifteen EU Member States. The title was authored by lawyers from major European law firms. More information
7.7.2008
News

Client Workshop – Personal Data Protection

Kocián Šolc Balaštík (KSB) held a workshop on 24 June 2008 to provide its clients with a summary of personal data protection issues. The lecturers were KSB personal data protection specialists, Martin Kubík, Petra Mirovská and Drahomír Tomašuk.
19.6.2008
News

Act on Public Budget Stabilization and Labour Law Issues

13.6.2008
Publications

VAT Deductions – New Prospects, Euro, No. 20/2008

Václav Pátek, a Kocián Šolc Balaštík tax specialist, writes an article in Euro on VAT deductions relating to fraudulent conduct. To download the article click here.
13.6.2008
News
Corporate law

KSB assists OKD, OKK, a.s. in merger with parent company

Kocián Šolc Balaštík assisted NWR Group member OKD, OKK, a.s. in another stage of restructuring in which OKD, OKK’s parent company ceased to exist by merging with its subsidiary OKD, OKK, a.s. KSB’s assistance was provided as part of its long-term legal assistance to the NWR Group (New World Resources).
13.6.2008
News
Corporate law

KSB advises Skanska Group in restructuring and spin-off by merger

Kocián Šolc Balaštík assisted Skanska CZ in the Skanska Group’s restructuring in the Czech and Slovak Republics. The restructuring resulted in a new holding structure under the umbrella of the newly incorporated Skanska CS and spin-off of part of Skanska CZ’s operations via spin-off by merger into three existing surviving companies.
13.6.2008
News
Corporate law

KSB assists Teplárny Brno in concentration with Tepelné zásobování Brno through division by merger

Kocián Šolc Balaštík assisted Teplárny Brno during the transformation involving concentration of its business with the business of Tepelné zásobování Brno. The transformation took the form of a division by merger in which Tepelné zásobování Brno ceased to exist and its operations passed over to its indirectly controlled affiliate, Teplárny Brno.
10.6.2008
News

The Constitutional Court Cancelled Part of the Labour Code

On 11 March 2008, the Constitutional Court issued a long awaited decision on constitutional complaints challenging the new Labour Code shortly after having been adopted. Award File No. Pl. ÚS 83/06 applies even to the concept of the Code.
10.6.2008
News

Amendment to the Code of Distraint Procedure

Amendment to Act No. 120/2001 Coll., on court-appointed distrainers and distraining activities (the Code of Distraint Procedure), as amended, effective from 1 January 2008, was published under Act No. 347/2007 Coll. The major goal of the amendment is to make supervision over distrainers more efficient and, as a result thereof, improve their activities; However, at the same time, the amendment again worsens the position of creditors in connection with the payment of distraint costs.
10.6.2008
News

Consumer Protection, Advertising, Competition

Act No. 36/2008 Coll. amended several laws applicable to consumer protection, advertising and competition, effective 12 February 2008, to increase protection of consumers against unfair business practice and, at the same time, improve competition culture; the amendment implements Directive 2005/29/EC concerning unfair business-to-consumer commercial practices in the internal market. The following legislation is primarily involved:
10.6.2008
News

Technical Amendment to the Labour Code

The long awaited legislative, technical and corrective amendment to Act No. 262/2006 Coll., the Labour Code, as amended (hereinafter the “Labour Code”), was disclosed under Act No. 362/2007 Coll. effective 1 January 2008.
10.6.2008
News

Act on Public Budget Stabilization and Labour Law Issues

Act No. 261/2007 Coll. on the Public Budget Stabilization (hereinafter the “APBS”), applies, among other things, to labour legislation. The changes took effect on 1 January 2008.
10.6.2008
News

New Provisions Applicable to Takeover Bids and Squeeze-Outs

Act No. 104/2008 Coll., concerning takeover bids and amending some other Acts (the Takeover Bid Act) took effect on 1 April 2008. The Act applies to bids aimed at issues of gaining control over listed companies, which were originally regulated by the Commercial Code. Following this conceptual step, the Commercial Code shall apply to public bids for purchase of shares in primarily unlisted companies but also to listed companies if there is no intention of gaining control over the target company.
22.5.2008
News
Competition

Heineken expands to include Drinks Union

Kocián Šolc Balaštík (KSB) law office represented Královský pivovar Krušovice a.s., a member of the multinational Heineken Brewery Group, before the Czech Anti-trust Office in an application for acquisition of the major beverage group Drinks Union, a.s. The Office granted unconditional approval for the merger on 28 April 2008.
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
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