News

What's new at the law firm

Attorney Daniela Kozáková joins the team

Daniela Kozáková is an experienced attorney in the sphere of property and construction industry law and commercial law. Daniela also specialises in legal services to concern investment in art and collecting (art law) and in the sphere of the conservation of monuments. She is a member of the prestigious Professional Advisors to the International Art Market and the Association for Property Market Development, which brings together leading persons from all areas of the Czech property market.

Trainee lawyer Pavel Vejmola joins the team

Pavel studied at the Faculty of Law at Palacký University in Olomouc. He took legal practice at the law offices of Duška & Svobodová and ŘANDA HAVEL LEGAL. During his time there, Pavel mainly concentrated on civil and commercial law. In addition to this, he also specialised in personal data protection, GDPR, and the legal regulation of E-commerce systems.

Advice on a cross-border acquisition

ŠZ Law Office, as the leading lawyer to the transaction, represented an investor in the cross-border acquisition of a 100-% stake in a technology and manufacturing company in the sphere of light microscopy. The team of lawyers was headed by Pavel Široký. Attorney Vladislava Kučerová and trainee lawyer Pavel Vejmola were also involved in the transaction.  

Amendment to the Labour Code - abolition of the waiting period

An amendment to the Labour Code will abolish, from 1 July 2019, what is known as the “waiting period” for employees in an employment relationship and for employees working on the basis of work agreements outside an employment relationship. This waiting period is the first three days of temporary incapacity to work, during which a sick employee is not entitled to compensation for wages.

Beginning 1 July, employers must pay employees compensation for wages or remuneration from the agreement of 60 % of average earnings as of the first day of incapacity to work.

In consequence of this, there will also be changes to the legal regulation of calculating compensation for wages for the duration of incapacity to work, by returning legal regulation to the way it was before the introduction of the waiting period.

As “compensation” for employers whose HR costs will rise with the abolition of the waiting period, there will be a reduction in the size of the premium on sickness insurance of 0.2 percentage points from the current 2.3 percent to 2.1 percent. The payment that employers must make for social security will therefore fall from today’s 25 percent to 24.8 percent.

Transitional provisions thereafter stipulate that compensation for wages, or compensation for loss of earnings, at a time of temporary incapacity that arose prior to the effect of this act and continues after its effect is governed according to existing legal regulations.

There will also be changes to other associated acts, for example to the Act on Income Tax and the Act on Retirement Insurance (references to the waiting period shall be omitted).

TEMAC and TEMAC AUTOMOTIVE merger

Our firm provided legal services during the merger of TEMAC AUTOMOTIVE with the successor company TEMAC. TEMAC is a leading European manufacturer and distributer of industrial gaskets used in the energy, chemical, gas, oil and petrochemical industries. TEMAC AUTOMOTIVE specializes in the manufacture of gaskets for the automotive industry.

Financing

Our firm provided legal services to a global investment consultant headquartered in the USA in connection with the refinancing of the acquisition of a luxury hotel real estate network located across Europe, including a five-star luxury hotel in Prague 1. Our advice included comprehensive real estate legal audit of the Prague hotel as well as the preparation of related documents.

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