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Politics & Policy|Companies|Society
Tom Jones|27.02.2012

Czech coal will run out in 18 years, industry-funded institute warns

The Brown Coal Research Institute (VÚHU), a private firm owned by domestic coal miners Czech Coal and Severočeské doly, has published a report warning that only 18 years of supplies, or 846 million tons of brown coal, remains within the curent government-set limits on mining activities. Pressure group Greenpeace has warned new fields would have catastrophic consequences, first and foremost for people’s health.

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Politics & Policy|Companies
István Léko|27.02.2012

Czech-American named head of embattled DPP

Prague’s mayor has named a Czech-American businessman Vladimír Lich as de facto director general of DPP — the Czech capital’s scandal-ridden public transport firm — for a two-year term. Under Lich’s leadership as “crisis manager,” all cases of alleged dodgy deals are to investigated in tandem with a broader review of how DPP has allocated public funds and contracted. Lich worked in global consultancy A.T. Kearney’s Czech office from 1989 until last year.

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HOT TOP|Politics & Policy|Companies
István Léko|22.02.2012

Key Investments scandal: a year of futile struggle with tentacles of corruption

Exactly a year ago, Czech Position was the first publication to report on the scandal surrounding the Key Investments brokerage, which could be dubbed as the Czech equivalent of the Bernie Madoff case. While the US finance fraudster received a 150-year prison sentence, the main protagonists in the Czech scandal remain free — thanks to the level of morality and expertise in the Czech police and judiciary.

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Energy & Green Biz
Chris Johnstone|21.02.2012

Czech industry minister fears Net4Gas sale to ‘Trojan horse’ in the pipeline

Still to be confirmed but clearly on the horizon, the sale of the Czech gas pipeline company Net4Gas by its German owner RWE is clearly a matter of concern for the Czech Ministry of Industry and Trade (MPO). Minister Martin Kuba on Tuesday expressed his fears over the prospects of a non-strategic buyer ready to sell for a quick profit when the opportunity arose but also admitted he was legislatively powerless to intervene.

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Politics & Policy|Companies|Society
Redakce ČESKÉ POZICE|16.02.2012

Is public debate about future of Czech Budweiser forbidden?

A well-informed and high-placed politician with the center-right Civic Democrats (ODS), the largest of the three parties in the governing coalition, shares his insights into the recent initiatives and intrigues concerning state-owned Budějovický Budvar brewery, the producer of the original Budweiser beer.

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Politics & Policy|Companies
István Léko|13.02.2012

Will Minister Bendl dare send HZ Consult to audit Budvar brewery?

The Agriculture Ministry’s appointment of auditor HZ Consult to control Budějovický Budvar is steeped in controversy. The relatively small firm has been was linked to a financing scandal involving Public Affairs (VV) fundraiser MP Michal Babák and, indirectly, with the dubious brokerage Key Investments. It is controlled by a co-owner of auditor Bene Factum, which oversees Babák’s business activities.

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Expert files|Business Essentials|Companies
Guest Writer|10.02.2012

Chaining of SROs still an issue

What does chaining mean? The provision in § 105 para. 2 Commercial Code which was introduced in 2001 and which prohibits a Czech s.r.o. to have as sole shareholder another s.r.o. (or similar legal form if it is a foreign company) with only one shareholder. Despite the almost 11 years of existence by now, thousands of Czech s.r.o. still have this illegal structure and — at least theoretically — face liquidation by decision of the Commercial Court.

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Companies|Society
Tom Jones|10.02.2012

Talks on to bring Russian KHL ice hockey league to Prague, ‘save’ O2 Arena

Czech financial groups KKCG and PPF Group, which now control Prague’s debt-strapped O2 Arena, have reportedly dropped plans to sell the indoor sports and entertainment complex, but have only until next week to avert nominal owner Bestpsort being declared bankrupt. The creditors reportedly see the premier Russian KHL ice hockey league as the key to the arena’s future.

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