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Politics & Policy|Companies
Ondřej Koutník|18.06.2012

Golden parachutes at Prague transport firm – business as usual?

Michal Prskavec was named head of the embattled Prague Transport Company’s (DPP) legal department in January by the acting director who replaced Martin Dvořák following allegations of widespread corruption. Only months later, both were no longer in those roles. Why was Prskavec appointed without a probationary period? Was his Kč 330,000 golden parachute deserved? 

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Politics & Policy|Companies|Foreign Affairs
Brian Kenety|14.06.2012

Czech police seek to charge ex-Defense Minister over CASA deal

Czech anti-corruption police have asked for Vlasta Parkanová (TOP 09), the deputy speaker of the lower house of Parliament and a former defense minister, to be stripped of immunity so that she may be prosecuted on abuse of office and other charges for her role in the 2009 purchase of CASA transport aircraft. The European Court of Justice (ECJ) had looked into allegations of corruption regarding the CASA deal, which Brussels later said ran afoul of public procurement rules.

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HOT TOP|Politics & Policy|Companies
István Léko|13.06.2012

Slavia football stadium: bankruptcy or another murky buyer?

E Side Property, which owns the Eden stadium in Prague, home to the Slavia football club, is in trouble — virtually bankrupt and with no money to pay off its debts. It faces insolvency proceedings, bankruptcy or the sale to another investor. In terms of uncovering the murky past of E Side Property, the Czech public would welcome either of the first two scenarios. But more likely, Prague districts will take a bath.

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Politics & Policy|Companies
Ondřej Koutník|08.06.2012

Ex-Prague district mayor exits energy group PRE in grand style

While Prague 5 was compelled to cancel a “disadvantageous” contract with the electricity distribution company Pražská energetika (PRE) signed by the former district mayor who went on to become the company’s deputy board chairman, Milan Jančík has been rewarded handsomely for his time in the post. TOP 09 deputy mayor says its time for the German model.

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Companies|Energy & Green Biz
Chris Johnstone|01.06.2012

Brussels rebuffs ‘free’ Czech carbon allowances bid

Chunks of a Ministry of Environment–piloted bid to reward Czech power companies, primarily state-controlled ČEZ, with free carbon emissions allowances in return for investments in cleaner electricity production have been rejected by Brussels officials with another problem stemming from concerns that Czech bid will excessively boost ČEZ’s market position.

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HOT TOP|Politics & Policy|Companies
István Léko|30.05.2012

Why are politicians covering up over Key Investments?

The Key Investments archives are a powerful weapon, both for those with something to lose and something to gain. The web of influence involved in the scandal around the dodgy brokerage goes to the summit of the Czech business-political power axes — and that’s the reason why only one token, and peripheral, culprit has been reeled in so far: former industry and trade minister Martin Kocourek.

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HOT TOP|Politics & Policy|Companies
István Léko|30.05.2012

Another warning message for Key Investments’ clients

The Slovak Poštová banka, controlled by the financial group J&T, is buying up the loans of the chemical plant Spolchemie, the most valuable undertaking of parent company Via Chem Group, from Czech banks. Any transfer of Spolchemie’s property would significantly affect Via Chem Group’s creditors, i.e. Prague 6 and Prague 10, whose blithe politicians set off down the path of risky investment with the dodgy brokerage Key Investments a few years ago.

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Companies|Real Estate
Kateřina Menzelová|29.05.2012

PPF Banka waits in vain for cash to convert costliest Prague plot

A luxury five-star Sofitel hotel was to arise on one of the most prestigious addresses in the Czech capital. But it was not to be. The lot on the corner of Mikulandská street and Národní třída, the avenue that runs from the Vltava River to the edge of Wenceslas Square, is still an unassuming parking lot, belying the fact that it is the most expensive plot in Prague.

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