News archive

News archive

Act on Registration of Contracts

Thursday, 10 April 2014

The parliament is currently deliberating on a government legislation draft of the Act on Registration of Contracts. This legislation should (similarly as in Slovak republic) introduce a mandatory publishing of contracts concluded by public authorities in the register of contracts which shall be a part of Public Administration Portal. The act should govern all contracts based on which any public funds are being disposed of, regardless of the subject-matter of the contract – the important factor shall be whether a party to such contract is the State in a broad sense (municipalities, corporations controlled by state etc). In case a…

Ineffectiveness of security granted by insolvent debtor

Monday, 31 March 2014

Interpretation of sec. 241 (5) (a) of the Insolvency Act – ineffectiveness of acts where a debtor grants (additional) security of its debts A decision of Czech Supreme Court file no. 29 ICdo 13/2012 was published recently which significantly refines the interpretation of so-called preferential acts of debtor which the debtor – being in a state of insolvency – makes in a certain period of time before the initiation of insolvency proceedings. This particular decision relates to provision of Sec. 241 (5) (a) of the Insolvency Act under which a security granted by a debtor in exchange for a duly…

News in Civil Proceedings Act

Tuesday, 18 February 2014

Few days ago a draft no. 107 was submitted to the Parliament containing another from many amendments to Act no. 99/1963 Coll. Civil Proceedings Act and Act no. 120/2001 Coll. Act on Enforcement Proceedings. The purpose of these amendments is to lift the burden of the excessive amount of petty lawsuits (which are initiated only to obtain the reimbursement of legal costs) from the courts, thus putting a stop to a co-caller "receivables business".  The core of the proposed draft is the amendment that the parties shall no longer have a right for reimbursement of the fees for legal representation…

November 2013

Tuesday, 19 November 2013

Within a batch of supplementary regulations accompanying the New Civil Code of which we already informed you, a new law was adopted revising the Civil Proceedings Act. This amendment passed in connection to the recodification of the private law brings not only a harmonization of Civil Proceedings Act terminology with the New Civil Code and a detachment of so-called non-dispute proceedings into a separate Act, but also brings changes which are not directly related to the aforementioned recodification. One of such changes which we would like to bring your attention to is reintroducing of 2 different options for enforcement of…

October 2013

Friday, 11 October 2013

On October 18, 2013 the president signed the Statutory Regulation of the Senate on Amendment of Tax Laws Connected to Rrecodification of Civil Law and the Statutory Regulation of the Senate on Real Estate Acquisition Tax. These new laws shall become effective as of January 1, 2014 and introduce various changes. Hereby we would like to draw your attention to few of these changes: Real Estate Transfer Tax is replaced by Real Estate Acquisition Tax Probate Tax and Gift Tax are to be transferred into the Act on Income Tax which shall result in the incorporation of these transfer taxes…

September 2013

Tuesday, 10 September 2013

Our law office has successfully restructured the loan exposure of Sberbank CZ amounting to hundreds of millions CZK towards a leading domestic commercial real estate developer group. The law office has accepted the mandate to implement regulations ensuing from the New Civil Code and to revise the template insurance documentation of the credit insurer KUPEG, the biggest Czech insurer of domestic loan risks.