On November 1st, 2009 the new Payment System Act became effective, implementing into Czech law the Directive of the European Parliament. The act introduces a new category of non-bank providers of payment services and reduces the periods for realization of cashless payments to 2 business days.
The Firm has succeeded at the Supreme Administrative Court with a cassation complaint in a dispute over a decision of the Committee for radio and television broadcasting.
Drafting and implementing new factoring documentation for HSBC Bank plc, Prague branch.
David Urbanec provided expert opinion on selected matters related to the transfer of promissory notes in connection with International Arbitration proceedings.
Represented two important local banks in successfully completing loan restructuring of a major domestic jewelry producer.