H&P Magazine I/2024

From cottage to town or neighbour to neighbour. Get ready to share electricity

An Energy Act amendment, the so-called ‘Lex RES II’, is to introduce community energy in the Czech Republic from July 2024. What will this change entail? The possibility of sharing electricity, for example, with family, neighbours or even within the municipality that can send electricity to schools or other municipal buildings. How to do it practically?

Jan Koval, Robert Porubský a Ivo Skolil · 8 January 2024

With whom we are connected through success

Part of HAVEL & PARTNERS’ corporate philosophy is to co-invest with clients and to continue to support their projects. We present four funds in which the partners of our law firm invest through ONE FAMILY OFFICE.

Commentary

The way to better understand our clients

Providing legal and tax services at the highest level requires not only excellent knowledge of the law, but also detailed knowledge and understanding of our clients' respective industry sectors.

Štěpán Štarha · 8 January 2024

Foreword I/2024

We are both motivated and committed to constantly moving forward, innovating, and improving. Now, 23 years after our law firm was established, we are the first law firm from the CEE region to open a direct representation office in Frankfurt.

Jaroslav Havel · 8 January 2024

Opportunity or trap? There are bonds, and there are bonds

In recent years, corporate bonds have become a popular investment choice, largely because of their appealing annual yields of between 6% and 12%. This raises the question: If financial advisors recommend including bonds in conservative portfolios, why are corporate bonds also considered high-risk investments?

Pro bono I/2024

A charity cheque for ProFem, runs for Světluška and the Memory of the Nation, charity breakfasts in Prague, Brno and Bratislava and the Forbes Top Covers auction — an overview of the firm’s pro bono activities.

Transaction overview

Overview of selected transactions with the involvement of HAVEL & PARTNERS I/2024

Over the past 18 years, we have been involved in 870 transactions, not only in mergers, acquisitions, sales and restructurings. Their total value exceeds CZK 850 billion. Here is an overview of the most significant ones from the recent period.

Interview

The billion family. We aspire to invest just like the richest Czechs, says Jaroslav Havel

Jaroslav Havel, the leader of the largest Czech law firm, announced his entry into the family office industry by launching ONE FAMILY OFFICE together with three partners earlier this year. ONE FAMILY OFFICE's top management and advisory body include experts connected to Wall Street and Silicon Valley.

When the tax authority asks

Do you use advertisements? And could we see them?

Does your company claim advertising costs as a tax-deductible expenses? Do you exercise the entitlement to VAT deduction? This is indeed possible. However, as the decisions of the Supreme Administrative Court show, it is necessary to provide proper (supporting) documentation during a tax audit to prove that the marketing services were actually rendered in accordance with the contract. The mere existence of invoices and signed contracts does not automatically establish the tax-deductibility of the costs.

Martin Pecha, David Krch a Josef Žaloudek · 8 January 2024

Flexible Financing for Startups Featuring Convertible Loans

When founders are looking for investors and a quick cash injection for their startup or don’t know their initial valuation, they might want to get a convertible loan, which is a combination of a loan with favourable terms and an investment. A convertible loan enables investors to invest in a project that has great potential but a not particularly clear value. How exactly does it work?

Jaroslav Baier a Josef Bouchal · 8 January 2024

Trends, vision, future

What is and will be the real estate market in the Czech Republic and Slovakia?

How much will apartments in Brno cost and how will the gradual interest rates cuts affect the South Moravian real estate market? Investors, architects, and representatives of real estate funds discussed this and other trends in real estate and construction at the Real Estate Forum, which we, together with HAVEL & PARTNERS, organized for the fifth time in Brno in the autumn of 2023. The topic of the first year of the Slovak Real Estate Vision & Trends conference in Bratislava was rental housing and its future in Slovakia.

‘Till death do us part. Matrimonial property and inheritance

On their wedding day, a couple vows (both to themselves and to each other) to live together happily ever after. But what happens after that, in case one of the spouses dies? The surviving partner must deal not only with a profound personal and emotional turmoil, but also with significant legal and financial changes.

David Neveselý, Jiří Kunášek a Veronika Bočanová · 8 January 2024

What do the new rules bring for retail, e-commerce and consumers in Slovakia?

An end to misleading practices of supposed price reductions on Black Friday. A large consumer law amendment entails a comprehensive regulation of Slovak consumer law. Since the middle of this year, this will affect not only e-shops, but also brick-and-mortar stores, which have to adapt to the new obligations. What are these specific changes?

Štěpán Štarha a Róbert Gašparovič · 8 January 2024

News I/2024

An overview of the firm’s news — victories in the Law Firm of the Year competitions in the Czech Republic and Slovakia, Who’s Who Legal and TOP Employers awards, revenue exceeding CZK 1 billion, a silver medal from EcoVadis, the New Year’s promotion of 15 colleagues and our partnership with the Diamonds of Czech Business award.

HAVEL & PARTNERS office in Frankfurt, the gateway to global business

In May, we were the first law firm from the CEE region to establish direct representation of HAVEL & PARTNERS in Frankfurt am Main, Germany, which is a gateway for international business. Through this step, we continue to deepen our exceptional international reach and cooperation with clients and business partners abroad.