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Defense against the reduction of an unreasonably high contractual fine by court
Contractual fines are one of the most frequently used methods of ensuring that commitments are met, whereas the fine itself...
Tax for the transfer of real property without an expert opinion
Many have certainly witnessed that the New Civil Code (Act No. 89/2012 Coll., hereinafter “NCC”) has entered into effect on...
Amendment of the Insolvency Act introduces clearance of business debts
Debt clearance is one of the ways of resolving a debtor’s insolvency, which can take one of two forms. The...
Good news for company statutory bodies: the duty to act with due and reasonable care does not mean liability for the result
Once again, the Supreme Court of the Czech Republic recently ruled on the issue of the duty to act with...
Compulsory third party insurance also covers non-material damage
On 24 October 2013, the Court of Justice of the European Union issued a judgement in case no. C‑22/12, Katarína...
Limited liability companies under new legislation
Limited liability companies (hereinafter “LLC”) are the most widely used form of business company in the Czech Republic. They are...
Increase in statutory interest for late payment
Interest for late payment is an institute widely used in commercial and civil law. The debtor must pay the creditor...
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