NEWS & PUBLICATIONS
Charges for Early Mortgage Repayment Unlawful
This is what the Prague Municipal Court, acting as an appellate court found with final legal force (The reimbursement of interest costs charged by a bank for early repayment of a mortgage was illegal and constituted unjust enrichment).
Attorney Escrows – New Rules
In certain projects such as, real estate transactions it can be in the best interests of clients to use an escrow mechanism. There are different types of escrows, whereas an attorney escrow is one of them.
Act on Preventive Restructuring Finally There!!!
The all new act on preventive restructuring allows an entrepreneur (a legal person) to conclude an agreement with its creditors (all or some of them) in the form of a restructuring plan on how to resolve its financial difficulties.
Public Auctions in a New Guise
Since the current act is already outdated half of all auctions are conducted without any rules at all, as the statistics show. But now after more than 20 years of effectiveness of the current legislation, a new act on public auctions has been adopted, which shall enter into force in January 2025.
Vollstreckung einer deutschen Gerichtsentscheidung in der Tschechischen Republik
Ein Gläubiger, dessen Forderung durch eine Entscheidung eines deutschen Gerichts bestätigt wurde, kann die Vollstreckung dieser Entscheidung in der Tschechischen Republik verlangen.
Miloš Zeman´s Final Game
With the election of the new president of the Czech Republic, the era of the current president, Miloš Zeman, will soon come to an end.
New Czech President Assures Firm Western Ties
The recent presidential elections confirmed that a large part of Czech society strongly supports democratic values and the Czech Republic’s firm anchorage among Western nations. This is illustrated by the overwhelming victory of Mr Petr Pavel, a retired army general, over the populist oligarch Mr. Andrej Babiš.
The Button Amendment
E-shops are facing new rules for consumer protection based on the European legislation generally known as the “Button Amendment”.
Top Employment Law News in 2023
The biggest expected change in labor law in 2023 is the forthcoming major amendment of the Labor Code. Additionally, there are changes to the implementation of medical examinations and changes to minimum and guaranteed salary.
New Rules on Services for Owners and Tenants of Apartments
A big change becomes effective of 1 January 2024: Individual owners or tenants in a block of flats must now receive information about the consumption of heating and hot water that are provided centrally once a month, if the consumption can be determined by remote readings.
Ultimate Beneficial Owners Shrouded in Mystery
In November 2022 the Court of Justice of the EU adopted a groundbreaking ruling, invalidating a provision of the AML Directive allowing general public to access information on beneficial ownership of companies.
Attention, Investors! Foreign Investments Screening
Selected foreign investments from non-EU countries are subject to screening and approval by the Czech Ministry of Industry and Trade. The purpose is to protect the security of the Czech Republic and its internal or public order.