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PETERKA & PARTNERS advised J&T VENTURES CG SICAV in Choice investment

05/03/2024 PETERKA & PARTNERS advised J&T VENTURES CG SICAV in Choice investment
The Prague office of PETERKA & PARTNERS, together with Polish and Ukrainian offices, advised J&T Ventures in their investment in Choice.
Choice offers a wide range of tools for restaurants, including a digital menu, a website for pick up and delivery, table reservations, QR codes, and more. Thanks to this investment, Choice is going to expand across Europe. Read more about it: Ondrej Dusek´s LinkedIn: https://www.linkedin.com/posts/ondrej--dusek_investment-founder-activity-7168644980863938562-OLFj?utm_source=share&utm_medium=member_desktop EN website: https://startupkitchen.community/digitizing-restaurant-customers-choice-raised-2-5m-and-reports-300-growth/ CZ website: https://cc.cz/zprostredkoval-objednavky-jidel-za-miliardu-choice-rychle-dobyva-evropu-a-nabira-desitky-milionu/

PETERKA & PARTNERS Czech Republic assisted V-Sharp Ventures Alpha

13/02/2024 PETERKA & PARTNERS Czech Republic assisted V-Sharp Ventures Alpha
The Prague office of PETERKA & PARTNERS advised V-Sharp Ventures Alpha SE, a venture studio, on its investment in Leya AI, a Lithuanian start up operating an innovative and research-based English learning app featuring an AI-Tutor, fun games, personalized lessons and a guided learning path. More information is available here in English (https://leyaai.com/blog/leya-preseed-round-closed/) and here in Czech (https://cc.cz/umela-inteligence-jako-kouc-ktery-vas-nauci-vse-co-potrebujete-do-litevskeho-startupu-investuji-i-cesi).

Transactional Advice in Bulgaria

08/02/2024 Transactional Advice in Bulgaria
The Bulgarian team of PETERKA&PARTNERS advised one of the subsidiaries of a US based Nasdaq and Fortune 1000 tech group on corporate, IP and employment aspects related to an asset transaction in Bulgaria.

PETERKA & PARTNERS among Airlines for Europe members

02/02/2024 PETERKA & PARTNERS among Airlines for Europe members
In January 2024, our law firm became a member of the Airlines for Europe (A4E) association. The main goals of the A4E are to ensure the sustainable growth of aviation and contribute to the socioeconomic development of European nations, and to support, and build up, business relationships among enterprises operating in the aviation sector in Europe.
Martyna Ryś-Wilgus, Senior Associate, and Leader of the Aviation Practice, has been handling cases for clients from the aviation sector for several years, and since January 2024, she has also been the coordinator of the firm's cooperation with Airlines for Europe.
PETERKA & PARTNERS has significant experience with the aviation industry and offers comprehensive legal advisory to entities in this field throughout the entire CEE region. For several years now, our Aviation Team have been representing a large air carrier in litigations initiated by passengers (or large companies buying passenger claims) for compensation for delayed flights. Our Litigation Department provides comprehensive legal analysis regarding our clients’ operations on the CEE market, including compliance with the obligatory requirements under applicable law (including advisory on general PNR and API data transmission obligations). The advisory covers also full legal assistance in disputes with passengers related to delayed or cancelled flights and other consumer disputes.

Succesful asisstance regarding a recent market entry in Romania, provided by our Bucharest office

01/02/2024 Succesful asisstance regarding a recent market entry in Romania, provided by our Bucharest office
PETERKA & PARTNERS Romania provided legal assistance to a consultancy and advisory group focused primarily on legal requirements on EU market in case of products (articles), mixtures and chemical substances, hazard and risk assessment in connection with its entry onto the Romanian market by means of incorporation of a limited liability company. Our assistance consisted in providing advice on the relevant applicable corporate legislation to preparing all relevant corporate documents and carrying out the registration formalities with the Romanian authorities.

Updates on computation of fines and leniency and immunity from fines introduced by recent amendments to Romanian Competition Law

25/01/2024 Updates on computation of fines and leniency and immunity from fines introduced by recent amendments to Romanian Competition Law
Government Emergency Ordinance no. 108/2023 amending and supplementing Competition Law no. 21/1996 (“Competition Law”), as well as other normative acts (“GEO 108/2023”), was published in the Official Gazette on December 6, 2023 with certain provisions entering into force within 30 days after the publication.
It is an important legislative change, through which Romania has completed the transposition process of the European Directive 2019/1 and aligns with the policy of empowering its competition authority to be a more effective enforcer and to ensure the proper functioning of the internal market.
The main amendments brought to the Romanian Competition Law, together with valuable insights envisaging the business climate onto this market are briefly summarized on our blog, by following this link .

An article by Markéta Hanzlíková on the proposed amendment of the Czech Civil Code in matters of family law.

17/01/2024 An article by Markéta Hanzlíková on the proposed amendment of the Czech Civil Code in matters of family law.
More simple and faster divorce proceedings in the Czech Republic? The amendment of Czech Civil Code currently under debates and if approved, shall be efficient as of January 1, 2025. The main objectives of the proposed amendment include simplifying divorce proceedings, promoting amicable divorces, removing unnecessary sources of escalating conflicts between divorcing spouses that burden both family relations and the courts, and eliminating some already overdone formalities. Only partial changes are thus proposed, with the existing concept of divorce based on the principle of matrimonial breakdown remaining. However, the proposal does introduce certain restrictions on divorce formalities and, in particular, the possibility of combining divorce proceedings with proceedings for the custody of minors if the spouses have agreed on all aspects of the divorce. This would remove the current need for two court hearings even in the case of an agreed divorce. This should also result in a speeding up of divorce proceedings. There have been a number of comments on the proposed amendments and more changes can be expected, but if it is adopted in its current form, it will not mean a revolution in divorce proceedings; for example, it will not be possible to divorce in Czech Republic before a notary in the case of fully agreed divorce. Read the full article regarding the above and further changes in family law that may be adopted in Czech here.

Polish directors for PETERKA & PARTNERS share their insights in leading their office

11/01/2024 Polish directors for PETERKA & PARTNERS share their insights in leading their office
Our Partners, Directors for Poland Agnieszka Siwińska and Dorota Ploskowicz share interesting insights into leading the Polish branch of PETERKA & PARTNERS. They both also specialize in M&A projects and as they say, managing such projects is an excellent preparation for running a law firm. Read more about it HERE.

PETERKA&PARTNERS Bulgaria successful with objections in insolvency proceedings

11/01/2024 PETERKA&PARTNERS Bulgaria successful with objections in insolvency proceedings
Bulgarian office successfully represented the local subsidiary of a major European logistics group in insolvency related proceedings of a client’s debtor, in particular with objections against a refusal of the insolvency trustee to accept some of the client’s claims.
The matter required complex argumentation associated, among others, with the justification of the secured/privileged status of the claims in circumstances where no earlier case law could be put forward in support.

Fast-track liquidation procedure suggested by Ministry of Justice in Bulgaria

09/01/2024 Fast-track liquidation procedure suggested by Ministry of Justice in Bulgaria
New fast-track liquidation procedure has been suggested by the Ministry of Justice in Bulgaria. Read about it HERE.

Another Sucessful Family Law case

03/01/2024 Another Sucessful Family Law case
Our law firm sucessfully represented a client, U.S. citizen in a court dispute with his ex-wife over the maintenance and contact with their young son. We are very happy that the client, Mr. Hedstrom wrote us the following kind reference: "Markéta Hanzlíková from PETERKA & PARTNERS was my attorney through a very difficult international custody and visitation case for my young son. Markéta handled his case with a steady hand, giving sound advice to me, negotiating with the opposing side's attorney, communicating very well, and representing us in court exceptionally. I give my highest recommendation to PETERKA & PARTNERS.

Thomas Alexander Hedstrom, U. S. Citizen."

TAX-FREE ACQUISITION OF START-UP SHARES IN HUNGARY

20/12/2023 TAX-FREE ACQUISITION OF START-UP SHARES IN HUNGARY
On 1 January 2024, a new era will begin for start-ups in Hungary, as they will be able to offer tax-free shares to their employees and executive officers, provided that they do not divest their shares for at least 3 years after acquisition. Read about it here.

PETERKA & PARTNERS Bulgaria successfully represented EU air carrier in a tort claim filed before Bulgarian court

13/12/2023 PETERKA & PARTNERS Bulgaria successfully represented EU air carrier in a tort claim filed before Bulgarian court
PETERKA & PARTNERS Bulgaria successfully represented one of the largest European air carriers before a Bulgarian court with respect to a tort claim submitted by a deported passenger against the client. The case involved unconventional legal issues in the areas of citizenship and the status of stateless persons, transportation of deported passengers, air security, border controls, etc. The claim required in-depth analysis of international regulations in the field of air transportation, as well as deep understanding of the local regulation of seafarer competencies.

Czech Business Mission to Romania

04/12/2023 Czech Business Mission to Romania
We are honoured that our law firm attended the latest Czech business mission to Romania, which took place in Bucharest, at the end of November. The delegation which accompanied the President of the Senate of the Czech Republic on his trip to Romania, gathered Czech companies from the fields of military, energy, IT, and automotive. Cosmina Aron, Partner and Director of PETERKA & PARTNERS Romania, attended the event in Bucharest and gained valuable insights about the economic and political relationships between Czech Republic and Romania, as well as about the active business exchange between these two CEE jurisdictions. We are excited to see that the business between the Czech Republic and Romania is active and constantly developing in both directions, offering us the opportunity to be a reliable partner for our clients in these markets and beyond.

Article by Markéta Hanzlíková on the proposed regulation of the unacceptability of physical punishment of children in the Czech Republic

29/11/2023 Article by Markéta Hanzlíková on the proposed regulation of the unacceptability of physical punishment of children in the Czech Republic
The end of "cooker education" in Bohemia? An article by Markéta Hanzlíková on the proposed amendment of the Czech Civil Code on the unacceptability of physical punishment of children. Current legislation in the Czech Republic prohibits corporal punishment in education, prisons and employment. Violence is prosecuted between adults, including domestic violence in partner relationships. However, when it comes to children, the most vulnerable members of our society, physical punishment is still tolerated by law and society. Consequently, we welcome the forthcoming amendment to the Civil Code, which proposes changing the above and fix the duties and rights of parents to care for the child, including in particular care for the child's health, physical, emotional, intellectual and moral development': "without corporal punishment, mental hardship or other degrading measures". Although the proposal as currently drafted does not contain a stronger formulation in the form of an explicit prohibition of physical punishment of children, nor any specific sanction in the event of a violation, it would certainly be a shift for the better if the legislator were to adopt the proposal, and at the very least an unequivocal declaration that the use of physical punishment against children would not be considered "normal" in Czech society. Read the full article regarding the above in Czech here: https://blog.peterkapartners.com/?p=421

Minimum wage increase in Hungary

28/11/2023 Minimum wage increase in Hungary
The Hungarian Government has decided to increase the minimum wage and guaranteed minimum wage for the second time this year. Read about it HERE.

PETERKA PARTNERS in Euro magazine

27/11/2023 PETERKA PARTNERS in Euro magazine
PETERKA PARTNERS achieved recognition as a standout player in the legal field, securing a coveted position in EURO’s top-tier. We would like to express our sincere appreciation for this acknowledgment and extend our hearty congratulations to our fellow distinguished law firms.

Alongside this recognition, Euro magazine featured a compelling interview with our partners, Zdenek Beranek and Hynek Peroutka, who shed light on the legal services landscape in the CEE region and the various challenges confronting legal professionals (and not only them).

Hynek also shared his thoughts on handling large amounts of data by law firms nowadays and contemplated the dilemma of representing clients who may be deemed not “Green” enough.

The issue also includes insights into AI by our colleagues Agnieszka Siwinska, Director of our Polish office. The quoting of this wonderful “woman in law” further underlines the success of our colleagues Adela Krbcova and Pavla Kopeckova Prikrylova in the overview of the Top 100 Women in the Czech Legal Business.

Article by Dan Loukota from PP CZ

20/11/2023 Article by Dan Loukota from PP CZ
On 6/11/2023 an article regarding unsufifciently identified owners of real estate in Czech Republic was published by Dan Loukota from PP CZ. With the New Year, the properties of insufficiently identified owners in Czech Republic will pass to the state.

In this article, Dan explores the historical roots of this issue and provide crucial steps to safeguard the property rights. Learn how to check the list maintained by the Office for Government Representation in Property Affairs, initiate inheritance proceedings, and protect the family's legacy.


Read the full article here.

PETERKA & PARTNERS Bulgaria advised a leading global generic pharmaceuticals group on a special distribution agreement

16/11/2023 PETERKA & PARTNERS Bulgaria advised a leading global generic pharmaceuticals group on a special distribution agreement
PETERKA & PARTNERS Bulgaria advised a leading global generic pharmaceuticals group on a special distribution agreement related to delivery of flu vaccines to health care professionals within the 2023 – 2024 flu vaccination campaign. The agreement covered various unconventional elements and arrangements related among others to the requirements under the framework of the national vaccination program.

TOP 100 women in the legal business

16/11/2023 TOP 100 women in the legal business
Naše Právničky v Žebříčku TOP 100 Žen v Právním Byznysu S obrovskou radostí a hrdostí oznamujeme, že dvě naše vynikající právničky, Adéla Krbcová a Pavla Přikrylová Kopečková, se staly součástí prestižního žebříčku TOP 100 žen v právním byznysu. Adéla byla oceněna v kategorii TOP partnerky, zatímco Pavla vyniká v oblasti M&A, Korporátní právo a Private Equity. Adéla Krbcová - TOP Partnerka Adéla není pouze právničkou; je symbolem excelence, odhodlání a lidskosti v právu. Její brilantní právnické dovednosti a schopnost nalézt optimální řešení pro naše klienty ji řadí mezi nejlepší v oboru. Umístění v kategorii TOP partnerky je výsledkem její tvrdé práce, oddanosti a vize pro spravedlnost. Pavla Přikrylová Kopečková - M&A, Korporátní Právo a Private Equity Pavla se v oblasti M&A, Korporátního práva a Private Equity stala uznávanou autoritou. Její expertíza a schopnost navigovat v komplexních transakcích ji řadí mezi špičkové profesionálky v oboru. Toto ocenění v žebříčku TOP 100 žen je zaslouženým uznáním jejího výjimečného přínosu v oblasti korporátního práva. Oceňujeme Jejich Úspěchy Tato umístění nejsou jen úspěchem pro naše právničky, ale i pro celý náš tým. Jsme hrdí, že můžeme mít takové výjimečné profesionálky ve svých řadách. Jejich práce, oddanost a profesionalita posilují naši firmu a posouvají naše právní služby na novou úroveň. Gratulace od Nás Všech Srdečně gratulujeme Adéle Krbcové a Pavle Přikrylové Kopečkové k těmto prestižním oceněním. Jsou to zářné příklady výjimečnosti a inspirace pro nás všechny. Těšíme se na další společné úspěchy a neuvěřitelný přínos do budoucnosti.
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Our lawyers in the TOP 100 women in the legal business We are very proud and pleased to announce that two of our outstanding female lawyers, Adéla Krbcová and Pavla Přikrylová Kopečková, have been included in the prestigious TOP 100 Women in Legal Business. Adéla has been recognized in the TOP Women Partners category, while Pavla excels in M&A, corporate and private equity. Adéla Krbcová - TOP female partner Adéla is not just a lawyer, she is a symbol of excellence, commitment and humanity in law. Her brilliant legal knowledge and ability to find optimal solutions for our clients make her one of the best in the field. Being ranked among the top partners is the result of her hard work, dedication and vision for justice. Pavla Přikrylová Kopečková - M&A, corporate and private equity Pavla has become a recognized authority on mergers and acquisitions, corporate and private equity. Her expertise and ability to navigate complex transactions make her one of the top professionals in the field. This Top 100 Women award is a well-deserved recognition of her exceptional contributions to the field of corporate law. Recognition of her achievements This ranking is not just an achievement of our female lawyers, but of our entire team. We are proud to have such exceptional female professionals in our ranks. Their work, dedication and professionalism strengthen our firm and take our legal services to the next level. Congratulations to all of you We sincerely congratulate Adela Krbcova and Pavla Přikrylová Kopečková on these prestigious awards. They are a shining example of excellence and an inspiration to us all. We look forward to more successes and incredible contributions together in the future.

IBA - Diversity and Inclusion Toolkit for Lawyers

06/11/2023 IBA - Diversity and Inclusion Toolkit for Lawyers
Diversity has a positive effect on productivity and competitiveness and brings with it the opportunity for expansion on both domestic and international markets. At PETERKA & PARTNERS, we are fully aware of how diversity is important for our progress and we have made great effort in this area for many years. Today, we are honored and proud to share that our Partner Pavla Kopeckova Prikrylova together with Antonia Verna of Portolano Cavallo led the initiative and launched a “truly transformational instrument” – a Diversity and Inclusion Toolkit for law firms. The project started at European level and with the support of the IBA special projects fund and was extended to become a global IBA initiative at the start of 2023. The D&I Toolkit is available in its interactive form on the IBA website: https://lnkd.in/dTMt6PPP

Successful end of a 13-year-long litigation

02/11/2023 Successful end of a 13-year-long litigation
PETERKA & PARTNERS’s Prague office led to a successful end a nearly 13-year-long litigation on behalf of our client, a Czech subsidiary of TOUAX, a prominent French-origin global group and a family-run business, which later became a subsidiary of Modulaire Group, Europe, and Asia Pacific's leading specialist in modular services and infrastructure. The case centred on an alleged breach of a subcontracting agreement and the associated contractual penalty and the value of the case exceeded 2 million EUR. Our team defended the nullity of the agreement by arguing and evidencing a conflict of interest involving the signatory. The case was tried three times before the court of first instance, two times before the appellate court, and twice before the Supreme Court. It ended with a final win for our client at the Supreme Court followed by a settlement agreement concluded by the parties in order to solve a few remaining auxiliary claims.

Changes in Bulgarian whistleblowing legislation

25/10/2023 Changes in Bulgarian whistleblowing legislation
While the time limit for the majority of businesses for introduction of internal reporting channel and related compliance measures approaches (December 2023), the Bulgarian whistleblowing legislation have undergone amendments in the beginning of October 2023. Please refer to our article on the matter for further details.

Renewable energy in Bulgaria – new rules in force since October 2023

19/10/2023 Renewable energy in Bulgaria – new rules in force since October 2023
Important amendments of the rules on renewable energy have been passed by Bulgarian Parliament recently. Among other things those include:
• Expansion of the framework for encouragement of RE projects; • Various changes to the rules on connection of RE installations to the grids; • Rules aimed at increased transparency and improvement of procedures and administrative service related to construction and commissioning of RE projects; • Introduction in local law of renewable self-consumers and renewable energy communities.
Further details available in our article HERE.

PETERKA&PARTNERS Newsletter

10/10/2023 PETERKA&PARTNERS Newsletter
Dear Clients, Business Partners and Colleagues, it is our pleasure to share with you the latest edition of PETERKA & PARTNERS Newsletter prepared by our colleagues.
You may read it here.
As per usual, we bring you the summary of practical legal and tax news from our jurisdictions as well as latest news from PETERKA & PARTNERS. We hope you will enjoy the reading!

Global Advocaten Annual Meeting - Bratislava

10/10/2023 Global Advocaten Annual Meeting - Bratislava
PETERKA & PARTNERS had the privilege to host this year's Global Advocaten annual meeting in the charming city of Bratislava. We really enjoyed welcoming all colleagues and friends from different countries and continents. While we did some serious work, we also appreciated the great time we spent together enjoying the gorgeous city of Slovakia in the lovely autumn and making our relationships stronger in the network. We would like to thank all members who attended the meeting and we are looking forward to next year's meeting!

ILN 2023 European Regional Conference

10/10/2023 ILN 2023 European Regional Conference
We are proud that we hosted another International Lawyers Network conference in Prague, the heart of Europe. It has been 15 years since we had the opportunity to welcome our international colleagues and friends in Prague, where our firm's headquarters is located. Along with Lindsay Griffiths, Pavla Kopečková Přikrylová, the Chair of the Board and the team of the event planners from Dynamic Events, we sincerely hope all the guest enjoyed our wonderful city and the conference.

PETERKA & PARTNERS Romania attended the first IBA CEE conference hosted in Bucharest

03/10/2023 PETERKA & PARTNERS Romania attended the first IBA CEE conference hosted in Bucharest
We are delighted that our law firm took part in another interesting IBA (International Bar Association) conference.
“The Future of Law Firm Management” - the first IBA CEE Conference hosted in Bucharest at the end of September was definitely a hotspot event for legal industry leaders aiming to find out what will tomorrow's law firm look like.
Our Romanian management represented by Cosmina Aron and Ioana Sebestin, were amongst the privileged attendants of the event and had the occasion to dive into captivating topics like:
- Law Firm Future Readiness - Navigating Converging Crises
- Law Firm Spending Decisions - Smart and Otherwise
- Are Law Firms Sustainable? Does It Matter?
- Will AI Eat the Law?
- Where are your clients looking to spend their budgets?
- Fostering a Healthy Team in a Remote Working Environment
- Legal M&A - Can Small Still Be Beautiful
- What Do the Clients Think?
We are eagerly waiting for the next insightful IBA conferences. By opening this link, you will see few pictures from the event.

Wines of Ukraine

21/09/2023 Wines of Ukraine
On September 14, we had the pleasure to be an exclusive Partner of the event Wines of Ukraine organized by the Ukrainian Embassy in the Czech Republic. The event brought together representatives of the Association of Ukrainian Wine Producers, potential Czech partners along with the Czech government officials; ambassadors accredited in the Czech Republic and representatives of Czech business circles and trade networks.
At the opening, Mr. Vitaliy Usaty, Chargé d'affaires a.i. greeted the guests and thanked Czech partners for their consistent and extensive support of Ukraine and Mr. Ondrej Peterka stressed out the importance of supporting Ukrainian exporters in promoting their domestic products to foreign markets, aimed at contributing to their integration into the European business community. We are glad that our continuous support to Ukrainian companies helps establishing mutually beneficial partnerships between the business circles of Ukraine and the Czech Republic.
To see pictures taken at this event, please click here.

Europe New (Green) Deal - The Net Zero Industry Act

14/09/2023 Europe New (Green) Deal - The Net Zero Industry Act
The Net Zero Industry Act (NZIA) in the spotlight - a crucial topic on the European Commission’s table.
Brief overview of The Net Zero Industry Act (NZIA)
In March 2023, the European Commission published a legislative proposal which followed as an EU response to the US Inflation Reduction Act: The Net Zero Industry Act (NZIA). The NZIA proposal, part of the massive EU Green Deal Industrial Plan, did not pass through the usual ex-ante exercise done by European Commission services to assess the likely impact of the proposal compared to alternatives. It was only followed-up by a working document discussing NZIA investment needs and funding options.
The NZIA aims at promoting investment in the manufacturing of products that are key in meeting the EU’s climate neutrality goals.
By accelerating the development and production of net-zero technologies, the NZIA also aims to reduce the risk of replacing EU reliance on Russian fossil fuels with other strategic dependencies on key technologies and components for the green transition.
Overall, this initiative should contribute to strengthening European self-sufficiency and the resilience of net zero manufacturing technologies in the EU, in order to meet REPowerEU objectives, which will make up the backbone of an affordable, reliable, and sustainable clean energy system.
Does NZIA foresees a reshaping?
The European Parliament Environment Committee (ENVI) will vote its opinion on the file in September 2023, followed by the Industry Committee’s (ITRE) deliberation on its position in October. The Council is due to agree on its negotiating position (general approach) by early December 2023.
Read the full material powered by our dedicated Energy Practice by opening this link.

Slovak team advises Roffelsen Plastics Slovakia on real-estate transaction

31/08/2023 Slovak team advises Roffelsen Plastics Slovakia on real-estate transaction
PETERKA & PARTNERS has advised the local subsidiary of a Netherlands-based group ROFFELSEN, a leading manufacturer of plastic products and a specialist in extrusion technology, in the acquisition of an industrial site near Nitra, western Slovakia, so that it can expand its current production. Legal assistance provided by Slovak branch of PETERKA & PARTNERS included, in particular, preparation of contractual documents related to the transaction, negotiations, legal due diligence of the acquired properties, and assistance in the preparation of bank documents. We thank our long-term client for their trust, and our colleagues from the Bratislava office for their hard work, especially Andrea Butasova for leading the team, and Lubomir Lesko, Marian Lauko, Nicole Srolova, and Marek Follrich, for their great contributions.

New amendments to Law 53/2003 on the Labour Code regarding work from home/tele-working by parents

31/08/2023 New amendments to Law 53/2003 on the Labour Code regarding work from home/tele-working by parents
The recent legislative amendments brought to the Romanian Labour Code continue to sustain the European and national policies implemented during the last years, in view of encouraging and improving work-life balance.
As of 24 July 2023, there are in force certain additional provisions regarding work from home/tele-working of employees that are providing for minors up to the age of 11.
According to Law 241/2023 amending Law 53/2003 on the Labour Code (hereinafter “Law 241/2023”), employees who provide for children up to 11 years of age shall have the benefit, upon request, of 4 days per month of work from home or under tele-working regulations, except when the nature or the type of work does not allow for the carrying out of such activity under such conditions.
In addition, such an employee should have at his/her own disposal all the means that are necessary for carrying out his/her duties under his/her job description during such period of work-from-home/tele-working.
PETERKA & PARTNERS Romania prepared an extended material which encloses important aspects connected to this legislative change. The material is available here.
For more details and related legal assistance connected to this matter, do not hesitate to contact our Romanian office.

New rules on taxation of structures in Poland

28/08/2023 New rules on taxation of structures in Poland
Currently, objects, identified as structures related to the business activity of a given taxpayer, are subject to 2% Real Estate Tax (“RET”) paid annually. This taxation is based on the depreciation value of the given object for income tax purposes.
Due to the ambiguity of the provisions, it is not clear as to which objects are subject to RET. Consequently, this issue has been the matter of numerous disputes between taxpayers and the Polish tax authorities. Groundbreaking Judgment on Polish Real Estate Tax
The Polish Constitutional Tribunal (“Tribunal”) has issued unprecedent judgment concerning real estate taxation of structures. The current tax provisions concerning taxation of structures will be repealed. A brand new system of taxation of structures will be in force starting from 1st January 2025. What has changed?
On July 4th, 2023 the Tribunal issued a judgment in which it found the legal definition of the structure for Real Estate Tax purposes as unconstitutional. Moreover, the Tribunal has stated that the relevant tax provisions will cease to apply within 18 months from the date of publishing the judgment in the Journal of Laws.
Therefore, it is expected that starting from 1st January 2025, a brand new regime of RET on structures in Poland will come into force. So far, no draft legislation has been proposed by the Polish lawmakers. What can Peterka&Partners do for you?
Given that the RET on structures could be a major tax burden, each RET payer should analyze whether the judgment of the Tribunal may affect their tax position.
The Polish Peterka&Partners office has considerable experience in tax advisory concerning RET, including handling disputes between taxpayers and the tax authorities.
Specifically, the Polish Peterka&Partners team may assist you in:
⎯ analyzing the impact this judgment could have on the way your structures are taxed;
⎯ assessing the potential tax savings to be achieved in the area of RET;
⎯ complying with the new real estate tax provisions once the draft legislation has been published. * * *
This article was prepared by Filip Biegun, Tax Advisor, Of Counsel at PETERKA & PARTNERS Poland. No information contained in this article should be considered or interpreted in any manner as legal advice and/or the provision of legal services. This article has been prepared for the purposes of general information only. PETERKA & PARTNERS does not accept any responsibility for any omission and/or action undertaken by you and/or by any third party on the basis of the information contained herein. only and may not be considered a legal opinion or advice.

PETERKA & PARTNERS Romania advised a reputable non-profit international organization which conducts intercultural programs on the conclusion of a general IT services agreement and related risks

25/08/2023 PETERKA & PARTNERS Romania advised a reputable non-profit international organization which conducts intercultural programs on the conclusion of a general IT services agreement and related risks
PETERKA & PARTNERS Romania is delighted to have provided legal advisory services to an international, voluntary, non-governmental and non-profit organization which conducts intercultural programs on a worldwide scale. Our assistance consisted in the analysis of a services agreement to be concluded with an independent IT contractor. The related advice included both the review and amendment of the draft services agreement from the perspective civil provisions, as well as the analysis of related risks of re-qualification of such agreement as a labour agreement from the perspective of Romanian law.

Changes in rules on insolvency and stabilization in Bulgaria

16/08/2023 Changes in rules on insolvency and stabilization in Bulgaria
Insolvency and stabilization proceedings in Bulgaria have recently undergone legislative amendments introduced with the objective of increasing their effectiveness.
Our Bulgarian team summarised the changes in this article.

Long-term power purchase agreements (PPA) with renewable energy generators under Romanian Energy Law

02/08/2023 Long-term power purchase agreements (PPA) with renewable energy generators under Romanian Energy Law
PETERKA & PARTNERS Romania is bringing into your attention an interesting topic connected to the dynamic Energy sector.
The legal article prepared by Dan Ciupala, Leader of Energy Practice within our law firm, focuses on a presentation of the specific issues related to the sale of the electricity generated from renewable sources through market-based long-term power purchase agreements (“PPAs”), that had been reintroduced in Law 123/2012 on Electricity and Natural Gas (“Energy Law”) by Government Emergency Ordinance No. 143/2021 (“GEO 143/2021”), that was approved in its final form by Law 248/2022, enacted on 24 July 2022, after being banned for more than eight years.
We consider this topic to be of interest to operators on the current market, for the following reasons: - energy generation from renewable sources has substantially improved in terms of technology and efficiency, making renewable energy generation competitive with conventional technologies of power generation;
- despite market volatility at the end of 2021, PPAs have continued to be seen as a long-term investment, providing developers with long-term bankability, reflected by cheaper prices for longer contracts, protecting prices against short-term market fluctuations;
- there is no state-sponsored support scheme available in Romania for renewables: the previous green certificates scheme ended at the end of 2016. As a result, the installation of new renewable generation capacities has almost stopped since 2017;
- the significant increase and volatility of wholesale electricity prices increased the demand for longer fixed-price electricity sourcing arrangements. Depending on the pricing formula, a long-term PPA can provide price certainty for a fixed period and thus protection against the volatility in the electricity prices both for the generator and the off-taker. A predictable and stable revenue stream are essential for the bankability of renewable projects. The extended version of this insightful legal material is available to read by opening this link. For more details and related legal assistance connected to this matter, do not hesitate to contact our Romanian office.

Terralex launches cross-border guide to ESG & Sustainable Finance

01/08/2023 Terralex launches cross-border guide to ESG & Sustainable Finance
Our Colleagues from Czech and Slovak office have collaborated to create the newest cross-border guide on the topic of ESG and Sustainable Finance by TerraLex.

Thank you Adéla Krbcová, Barbora Urbancová, Johannes Röll and Kristina Nankova for your contributions on this increasingly important topic. You may access it here.

PETERKA & PARTNERS Teambuilding in Sopot, Poland (14-18 June 2023)

01/08/2023 PETERKA & PARTNERS Teambuilding in Sopot, Poland (14-18 June 2023)
After a couple of years, we could finally all meet in person, and spend some quality time together in the beautiful surroundings of Hotel Haffner in Sopot City, Poland. These numbers would best show the enormous scope of the project: 5 days
8 offices representing 8 countries
122 participants
5* Hotel in Sopot
3 workshops
2 contests
3 special awards from Ondřej Peterka
18 contests winners
a myriad of inspirations and networking Great thanks to Magdalena C. Oleszycka and Anna Kalbarczyk (Dzienio), MBA for truly exceptional performance in coordinating the entire event, and their huge efforts to provide probably the best team building in the entire history of our company.
Recent years were very important for the PETERKA & PARTNERS as we celebrated the 20th anniversary of the Group back in 2020 and “round” anniversaries of six offices.
Our team building was a great opportunity to see our colleagues on childhood photos. Jan Liška and Radka Čejkova organized the “Guessing game”, where chosen representatives from each office had to guess who was presented in a photo. Adéla Krbcová and Barbora Urbancová moderated very important session on our ESG policy. We were inspired by everyone with the new ideas on our ESG&CSR programs, so thank you, girls for organizing this important session. During Q&A session, Ondřej Peterka and Jan Liška with full transparency tackled the hardest topics that were brought up by their coworkers. As PETERKA & PARTNERS values open communication, it goes both ways, each voice is heard and matters. During the Gala Dinner, Dorota Ploskowicz and Agnieszka Siwińska who manage our Warsaw office, talked of times filled with challenges and its recent growth. Sławomir Patkowski, Partner and Deputy Director for Poland helps them with such great development of our Polish office. Management prizes were handed out as well to: Petr Hradil for long-term exceptional performance
Beata Składanek-Wikieł was awarded for the successful development of the Polish litigation practice, which is the largest in the entire firm
The main prize went to the entire PETERKA & PARTNERS Ukrainian Team, led by Taras Utiralov and Halyna Melnyk, for maintaining and developing the Ukrainian office despite the ongoing Russian war against Ukraine. We would also like to give special thanks to the Hotel Haffner management. Tymoteusz Skuza, Adrian Chyliński, MBA and Magdalena Dunowska who coordinated the entire event with us – from the beginning to the final hour of our presence there. We appreciate your professional and friendly attitude, highest level of services and perfect organizational skills. Hotel Haffner will be our first choice when organizing any global event in Poland. Thanks to all of our PETERKA & PARTNERS colleagues for such a great time spent together in Sopot, Poland. See you soon!

A new type of company introduced in Bulgaria

01/08/2023 A new type of company introduced in Bulgaria
A new type of company has been introduced in Bulgarian company law for the first time in decades. The new company form is the variable capital company and our Bulgarian team has prepared a concise leaflet presenting the main features of the variable capital company in comparison with the two most popular traditional company types. Read about it here.

Amendments to anti-money laundering legislation in Bulgaria

26/07/2023 Amendments to anti-money laundering legislation in Bulgaria
A new law amending the Bulgarian Anti-Money Laundering (AML) Act was published on 14th of July 2023. It introduces a number of measures, some of them upon the recommendations of certain European institutions. We have selected and presented below those we find most important.
I. Notifications to the Registry Agency in regards to incorrect UBO data The obliged entities under the AML Act (banks, insurers and insurance brokers, lawyers, notaries public, other credit institutions, etc.) now have an additional obligation.
In particular, when such entities detect a discrepancy between the data concerning the ultimate beneficial owner (UBO) of their clients entered in public registers (the Commercial Register and the BULSTAT register) and the UBO data collected by the obliged entities in the course of the performance of their AML duties, e.g., in the course of an AML customer due diligence, they shall be obliged to file a notification on the discrepancy to the Registry Agency. It’s worth noting that the AML Act contains an express rule that such notification may not result in liability for a breach of a confidentiality obligation by the respective obliged entity or its employees.
The filing of a notification would trigger a special procedure within which the respective company should either prove to the Registry Agency that the registered UBO data is correct or take the necessary steps to modify the registered data to reflect the correct status in the register. A failure of the company concerned to act in accordance with the said procedure may result in a fine and, if following its imposition, the company does not act in accordance with the law, the Registry Agency may keep fining the company for each month of non-compliance.
The new mechanism shall be effective as from 16 July 2024. It’s recommendable for all companies to check the UBO data in their files with the respective register and, if needed, adjust or update the data by then in order to avoid the potential triggering of the described procedure and risks of the associated sanctions.
II. Storage of UBO data Up until now the obligation to store the information concerning clients’ UBOs for a certain period of time applied to the obliged entities under the AML Act.
The amendments introduce the obligation for all legal entities and other entities established in Bulgaria, including for their managers, liquidators and contact persons, to store the data for the UBO of the relevant entity for a period of 5 years from the termination of this entity.
III. Listed companies and UBOs Thus far, the AML Act has stipulated that if a client is a listed company, instead of identifying the UBO, the AML obliged entity must collect certain information on shareholding exceeding the threshold subject to disclosure as per the rules of the jurisdiction where the client is listed.
The law was not sufficiently clear when it comes to a controlling listed company, i.e., when it is not the client but instead another entity in the group which controls the client that is a listed company.
The amendment makes it clear that the same approach also applies to controlling entities by inserting an express reference to this end.
IV. Identification of natural persons As a matter of principle, AML obliged entities must apply measures for identification to all their clients before commencing to work with them.
Regardless if a natural person is the client or he/she is the UBO of a legal entity which is the client, upon performance of an AML identification, the natural person should provide certain personal data (such as name, date and place of birth, country of permanent residence, etc.).
The amended law envisages that this obligation shall apply not only to the natural person subject to identification but to his/her statutory representatives (in the case of individuals with limited legal capacity) and/or proxies. ____________________________________________________________________________ This article was prepared by Ivana Ilcheva, Associate at PETERKA & PARTNERS for Bulgaria.
No information contained in this article should be considered or interpreted in any manner as legal advice and/or the provision of legal services. This article has been prepared for the purposes of general information only. PETERKA & PARTNERS does not accept any responsibility for any omission and/or action undertaken by you and/or by any third party on the basis of the information contained herein.

ITR EMEA Tax Awards 2023

24/07/2023 ITR EMEA Tax Awards 2023
PETERKA & PARTNERS is honoured to be shortlisted for ITR EMEA Tax Awards 2023 in the following categories: - CEE Tax Firm of the Year
- CEE Transfer Pricing Firm of the Year Winners will be announced at a live ceremony in London on the 27th of September 2023.

ITR EMEA Tax Awards have taken place annually since its inception in 2005 and recognise the remarkable achievements and developments by tax professionals from throughout the EMEA region over a 12-month period. The awards recognize achievements in tax technology, innovation, policy, compliance, and reporting, as well as diversity, equity and inclusion. PETERKA & PARTNERS provides a one-stop shop for legal and tax services for the entire CEE region. We provide tax advisory services, whether on a stand-alone basis or as an integral part of full legal services. The Tax Desk is led by Rostislav Frelich and Lenka Paluchova. We extend warm congratulations to the PETERKA & PARTNERS Tax Desk for receiving this well-deserved recognition!

Hungarian whistleblower protection act to come into force on 24 July

13/07/2023 Hungarian whistleblower protection act to come into force on 24 July
The Hungarian Whistleblowing Act will come into force on 24th of July 2023 for companies with more than 250 employees and service providers subject to the Anti-Money Laundering Act regardless of the number of employees.

The new Act also applies to companies with 50-249 employees from 17th of December 2023. Companies may also operate a common whistleblower protection system, however, a common channel operated at the central level of a company group would not be possible, since compliance with special Hungarian regulations is also necessary. Companies with fewer than 50 employees could also decide to establish a whistleblower protection system even if they are not obliged to do so.

Employers may decide to handle the reports of whistleblowers fully internally or it is possible to involve an external organization or a whistleblower protection attorney. An important factor for companies to consider is that the new Hungarian Act differs from the EU Directive and contains some special provisions, e.g., it defines who is considered as an employee of the company, expands the scope of persons who can make a report, and sets out in detail the documentation requirements for reports made in person.

PETERKA & PARTNERS advised on the sale of a majority share in FC Viktoria Plzeň

07/07/2023 PETERKA & PARTNERS advised on the sale of a majority share in FC Viktoria Plzeň
The Prague office of PETERKA & PARTNERS provided comprehensive legal advice in connection with the sale of the majority share in FC Viktoria Plzeň, a leading Czech football club, to an Austrian-Swiss business group.

Our role included drafting transaction documentation, negotiations and managing the closing agenda.

The transaction implies providing the club with financial stability, higher ambitions, motivation and a desire to work conceptually and move the club forward.

Zdeněk Beránek, Partner for the Czech office of PETERKA & PARTNERS and Leader of Sport, Media and Gaming practice, led the project.

Deputy director for Ukrainian office joined the ILN podcast / Заступник директора українського офісу в новому епізоді подкасту ILN

04/07/2023 Deputy director for Ukrainian office joined the ILN podcast / Заступник директора українського офісу в новому епізоді подкасту ILN
“The IT sector is doing quite well in Ukraine and we have this special regime; a tax and legal incentive for IT companies and for big companies. So it's been developing and it's been developing quickly. And I'm curious whether it will result in new IT market players coming to Ukraine, even despite the war, because the incentive is really good.” Dive into the dynamic conversation between Lindsay Griffits of ILN and Halyna Melnyk, Tax Advisor and Deputy Director for Ukrainian office of PETERKA & PARTNERS in the latest episode of the Law Firm ILN-telligence podcast: Click here to see the podcast - "ІТ-сектор в Україні почувається добре, наразі в нас встановлено особливий режим; податковий і юридичний стимул для ІТ-компаній і для великих компаній. Тому він розвивається, і розвивається досить швидко. І мені цікаво, чи призведе це до того, що в Україну прийдуть нові гравці ІТ-ринку, навіть незважаючи на війну, тому що стимул дійсно хороший." Пориньте в динамічну розмову між Ліндсі Гріффітс з ILN та Галиною Мельник, податковим радником та заступником директора українського офісу PETERKA & PARTNERS, в останньому епізоді подкасту ILN-telligence: натисніть тут, щоб переглянути подкаст.

PETERKA&PARTNERS Bulgaria advised local subsidiary of a leading chemical distributors in CEE on regulations governing the reserves of oil and related products

28/06/2023 PETERKA&PARTNERS Bulgaria advised local subsidiary of a leading chemical distributors in CEE on regulations governing the reserves of oil and related products
PETERKA&PARTNERS Bulgarian team advised the local subsidiary of one of the leading chemical distributors in the region of Central and Eastern Europe on matters arising under the regulations governing the reserves of oil and related products. The advice required a complex legal analysis, including unconventional issues and exploration of court practice in the context of requirements and limitations deriving from EU law applicable to similar circumstances.

The fragile balance within ESG

22/06/2023 The fragile balance within ESG
Following our previous newsletters introducing the new ESG rules, we will now consider the fragile balance between two critical pillars of ESG, the environmental policies (the “E” pillar), and the social and labour policies (the “S” pillar).
The ESG revolution is a challenging topic for all industries and we would like to present some interesting features below.
A recent example of how the fragile balance between these ESG pillars can be easily upset was brought to light by the fine-dining industry, where innovative restaurants are more open than ever to take into consideration hyper eco concepts, using only ingredients local to the region in which they are operating.
Still, the most telling example comes from the clean energy industry, where to achieve Net Zero by 2050, the solar and electric energy sectors intend to become the central part of the worldwide energy system.
Our Romanian team is inviting you to read here an extended material in view of gaining more knowledge about ESG, one of the most trending topics. For more details and related legal assistance connected to this matter, do not hesitate to contact our Romanian office.