Vladimír Urbánek (Kurzy.cz)
Business  |  February 13, 2013 14:23:05

Executives will be able to manage our companies reasonably risk

A number of key changes in the status of statutory bodies will since January 2014 a new Civil Code and the Law on commercial corporations. These adjustments define the proper care manager and establishing new so-called business judgment rule that statutory authorities to protect against the negative consequences of their business decisions.

"The obligation of the statutory authority to act with due diligence is adjusted and inferred today, but its precise definition brings up new legislation. Statutory body under it would have to meet three basic requirements that are common knowledge, diligence and loyalty. Duty of care and diligence, for example, is not observed if one accepts a function to which obviously is not enough, "says Bohumil Havel PRK Partners.

Greater protection of the statutory bodies of the negative consequences of their business decisions, provide new business judgment rule.If a statutory authority established that he acted with the necessary knowledge, thoroughness and not disloyal, will be given to the protection of his business judgment and acting will not be liable for any harm that their actions caused the company.

How Bohumil Havel adds, "business judgment rule is for statutory authorities, especially to a reasonable degree of motivation risky or daring business decisions."

The Act thus offers new design in such situations, when the executive decides to purchase the property, which subsequently falls for disturbed soil. While under current conditions would have complicated defend new will just have to prove that you bought the property, he could have information about the underlying defects and acted accordingly lege artis, ie Act.


PRK Partners is a leading law firm, which this year celebrates 20 years on the Central European market. She received the most international and local awards (The Lawyer European Awards, Chambers Europe Awards for Excellence, Law Firm of the Year in the Czech Republic). With more than 100 legal professionals in Prague, Ostrava, Bratislava and Budapest, the company specializes in banking, finance, mergers and acquisitions, corporate law, general business law, employment law and real estate law and is involved in a number of international and domestic business transactions.


Paul Kunert                                                                        Eliska Roubíčková

PRK Partners, Ltd.                                                             Fleishman-Hillard, sro

Marketing Specialist                               Account Manager
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