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An Amendment to the Czech Labour Code
An amendment to the Czech Labour Code is expected imminently. This Monday, following the closing of an input window as part of an interdepartmental feedback procedure, the Ministry of Labour and Social Affairs published an updated draft amendment to the Labour Code. In response to feedback received on the initial draft, the proposed amendment softens some controversial provisions. In particular, the changes concern working from home (telework), such as limiting the scope of employees with a guaranteed right to this kind of work. Furthermore, provisions on mandatory compensation for home office should now offer more flexible rules for employers. At present, the ministry anticipates that – excepting certain provisions
Decentralized clinical trials: Current developments in CEE and Turkey
The rapid development of technologies and solutions in the healthcare sector is contributing to the proliferation of decentralised clinical trials (“DCTs”). The aim of DCTs is for clinical trials to be conducted more effectively and conveniently – for patients, sponsors and investigators – through the use of digital technologies. In addition, with hospital visits temporarily limited and staff capacities overwhelmed, the challenges associated with the Covid-19 pandemic have significantly underscored the necessity of performing certain elements of clinical trials remotely. Download in English:
Unpacking the European Parliament’s Recent Resolution on Online Video Games
Last week, the European Parliament (“EP”) adopted a resolution on online video games (the “Resolution”) . In essence, the Resolution calls for strong enforcement of consumer protection rules in the video game industry, requires stricter regulation of loot boxes and emphasizes the enormous potential of the gaming sector. Download in English: In case of any questions with respect to the above, our specialists are standing by to offer guidance and counsel.
Online conference “Changes to legislation in the Czech Republic in 2023” (Změny v legislativě 2023)
On 18 January, Kinstellar’s Prague office held an online conference entitled "Changes to Legislation in the Czech Republic in 2023" for our clients’ senior management as well as for our partners and regional organisations. We hosted the online conference with aim to help our clients and partners become familiar with the latest laws, decrees, regulations, and directives that receive practically every day. Our experts covered in detail the changes to Czech and European law that take effect in 2023, with an emphasis on how these changes will affect businesses' day-to-day operations. We also focused on the most notable cases of recent judgments by the Czech Constitutional Court, which affect judicial practice at
NIS 2 Directive – What you need to know
On 27 December 2022, the Directive on “measures for a high common level of cybersecurity across the Union”, repealing Directive (EU) 2016/1148 (the “NIS 2 Directive”), was published in the Official Journal of the European Union. The NIS 2 Directive builds on a previous NIS Directive adopted in 2016 expanding its scope to other entities. Due to a rising number of cybersecurity incidents as well as ongoing increased digitalization, the aim of the NIS 2 Directive is to cover more economic sectors and to introduce additional security and reporting requirements across all EU Member States. Member States will have until 17 October 2024 to transpose the NIS 2 Directive into their national laws. Our specialists
Kinstellar appoints new Service Line Heads
Kinstellar is delighted to announce the appointments of new service line heads. Jan Juroška, a Partner in the Prague office, is the firm-wide Co-Head of M&A, Corporate & Private Equity. Jan has over 15 years of experience advising both local and international clients on a wide range of commercial matters and corporate transactions. Jan specialises in all aspects of corporate law, in particular M&A (including M&A real estate), private equity, joint ventures and employment. Jan is ranked by Chambers Europe and Legal 500 2022 editions, based on excellent client feedback, one stating that ''he knows the business needs of the clients and is very solution and target-oriented''. Edmund Emre Özer, a Partner
Kinstellar expands its Dispute Resolution service in Prague
Kinstellar is pleased to announce the addition of Radim Kotrba to its Dispute Resolution service line in Prague. Radim is a litigation expert with over ten years of experience advising clients on disputes involving, among other things, damage recovery, trademarks, financing, and complicated debt recovery. He has a strong market reputation for providing hands-on, highly qualified advice and has been involved in a number of high-profile cases involving complex domestic and international dispute resolution and insolvency proceedings. Radim Kotrba comments: "I am thrilled to be joining such a dynamic and well-respected law firm, and I look forward to contributing value to both the firm and the clients we represent."
Czech Republic: Major consumer-related amendment to the Civil Code and the Consumer Protection Act
On 6 January 2023, a so-called “major consumer-related amendment” to the Civil Code and the Consumer Protection Act will come into force. The amendment (the “Amendment”) significantly strengthens the position of consumers, responds to digital technologies and introduces a number of changes, in particular for businesses engaged in e-commerce. The Amendment also introduces significant fines for non-compliance with the new rules (in millions of Czech Crowns; in some instances up to 4% of total annual turnover). In this context, adapting purchasing processes and preparing the relevant legal documents will be critical (for instance terms and conditions, complaints procedure policies and information displayed on websites).
Kinstellar advises Kinnevik on its USD 185 million investment into Mews Systems
Kinstellar M&A and TMT specialists in the Czech Republic have successfully advised Swedish company Kinnevik Online AB on its investment into Mews Systems as part of a USD 185 million Series C financing round, which gives the company a post-financing valuation of USD 865 million. The Series C round was co-led by Kinnevik and the growth equity business within Goldman Sachs Asset Management and also included new backers Revaia, Derive Ventures and Orbit Capital, as well as previous investors Battery Ventures, Notion Capital, Thayer Ventures and henQ. Based in Prague and Amsterdam, Mews operates a leading property management and payments system designed to simplify and automate operations for modern hotels and
End of UBO publicity?
As of 2020, European Union (“EU”) Member States are obliged to make details of ultimate beneficial owners (“UBOs”) of corporate and other legal entities available to the general public. However, in light of the recent decision of the Court of Justice of European Union (“the ECJ”), it is now questionable whether this obligation will remain. The requirement to make details of UBOs publicly available was introduced by Article 30 (5) of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“the AML Directive”). The Member States are entitled to restrict public availability of details on UBOs under the AML Directive in the
Kinstellar named Law Firm of the Year in Central Europe at The Lawyer European Awards ceremony
Kinstellar is pleased to announce that it has been named “2022 Law Firm of the Year: Central Europe” by the leading UK and European legal publication The Lawyer at its annual European Awards ceremony. Each year the awards celebrate excellence across the European legal market and recognise firms that have demonstrated outstanding achievements through their mandates, performance, impressive strategic growth and excellence in client service. Winners are chosen from among over 120 independent law firms headquartered in Europe and global firms across the continent. Kinstellar is also proud to have been shortlisted for the “Law Firm of the Year: South Eastern Europe” and ‘’Law Firm of the Year: Ukraine’’
Amendment to Significant Market Power Act to significantly broaden law’s scope
An amendment to the Significant Market Power Act (the “Amendment”) has been passed by the Czech parliament. The Amendment, which transposes EU Directive No. 2019/633 on unfair trading practices in business-to-business relationships in the agricultural and food products supply chain, will introduce key changes to the concepts of significant market power in the Czech Republic. Specifically, the Amendment provides a new definition of significant market power by reducing the turnover threshold for the application of a statutory assumption of significant market power to EUR 2 million. In line with the related EU Directive, the amendment is designed to provide better protections for smaller businesses against unfair trading