We are among the pioneers of international bankruptcies in the Czech Republic and Slovakia. Our corporate, labor and banking law experts advise companies, insolvency administrators, managers and banks on cross-border reorganizations, restructurings and insolvency proceedings. Their unique experience with strategic and practical advice enables companies to continue to run or to be effectively transferred, secures investments and helps creditors to enforce their claims.
We are among the pioneers of international bankruptcies in the Czech Republic and Slovakia. Our corporate, labor and banking law experts advise companies, insolvency administrators, managers and banks on cross-border reorganizations, restructurings and insolvency proceedings. Their unique experience with strategic and practical advice enables companies to continue to run or to be effectively transferred, secures investments and helps creditors to enforce their claims.
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In early October, the Czech National Bank (CNB) took an action the market had not seen for more than two decades: the CNB raised its reference rate by 75 basis points taking the two-week repo rate to 1.50 %. The unexpected move was driven by higher-than-expected inflation data. The annual inflation rate based on index of consumer prices reached 4.1 % in August, being the highest since 2008.
The New Building Act Promises a Better Tomorrow
Despite many obstacles during the legislative process, a completely new Building Act was adopted in July 2021 by the Czech Parliament, entering into force (with a few exceptions) on July 1, 2023. Its main goal is to accelerate and make the building permitting process more efficient.
Supreme Court Puts the Articles of Association Under Threat
Do your company’s articles of association include a general specification of its object of business “Manufacture, trade and services not specified in Annexes 1 to 3 to the Trade Licensing Act”? Do they lack a precise specification of the activities? In this case, an amendment to the articles of association is highly recommended.