News archive

News archive

Successful litigation in front of the Supreme Court

Monday, 15 December 2014

Successful litigation in front of the Supreme Court After almost two years of litigation, we have been successful in defending our client against illegal claims since the Czech Supreme Court has now denied the extraordinary appeal of Aleš Hušák who tried to reverse the binding decision of the High Court of Prague. The Supreme Court thus resolutely ended the illegitimate attempts of Aleš Hušák, a former CEO of the lottery company SAZKA, a.s., to abuse a promissory note and to claim an amount of CZK 50 million from Marek Dospiva, co-owner of the investment group PENTA INVESTMENTS LTD, and Martin…

Successful restructuring of loan exposure exceeding CZK 100 million

Monday, 08 December 2014

Successful restructuring of loan exposure exceeding CZK 100 million We represented Sberbank CZ, a.s. in finishing successfully the restructuring of non-performing loans provided by the Bank for construction of a biogas station and a photovoltaic power plant in the total amount of CZK 116.840.000. Our assistance in this restructuring included active participation in negotiations of refinancing conditions with the new investor, drafting and revising of the complete contractual documentation and related documents (a Settlement Agreement, an Escrow Agreement, a Settlement of Received Funds, Termination of Execution and Court Proceedings etc.) so that the client’s legal position would be best protected…

Restriction of set-offs in liquidation form of insolvency solution

Monday, 18 August 2014

Restriction of set-offs in liquidation form of insolvency solution We would like to draw your attention to an interesting decision which was rendered in the publicized case of LESS holding insolvency proceedings which deals with the issue of conditions for offsetting receivables within insolvency proceedings. The High Court of Prague on June 18, 2014 in its decision file no. 1 VSPH 1002/2014-B-581 (KSPH 37 INS 23802/2012) changed the decision of a first-instance court and denied a motion for preliminary injunction which prevented offsetting of mutual receivables of the debtor (LESS & FOREST, s.r.o.) and its registered creditors until the time…

Re Section 199 (2) of the Insolvency Act - Reasons for denial of an enforceable receivable within insolvency proceedings

Tuesday, 15 July 2014

Re Section 199 (2) of the Insolvency Act Reasons for denial of an enforceable receivable within insolvency proceedings We would like to draw your attention to an interesting decision of the Supreme Court on the issue of adversary proceedings within the insolvency proceedings, specifically the limitations for denial of an enforceable receivable. The section 199 (2) of the Insolvency Act, as amended (hereinafter as “InsAct”) stipulates that: “As a reason for denying the authenticity or the amount awarded by final enforceable decision of the competent authority may apply only the facts that were not raised by the debtor in the…

Legal support to Safety Line Association

Wednesday, 21 May 2014

The law office has assumed legal representation of important Czech charity organization – Safety Line Association which provides for more than 20 years highly qualified services of telephonic crisis intervention to children and juveniles whilst being accredited within the social welfare system of the Czech republic and being a member of a global association of children helplines "Child Helpline International. The law office represents the Association in a lawsuit regarding a copyright and goodwill protection.