IFLR 1000
The Guide to the World's Leading Financial Law Firms

Glatzova & Co continues to build a presence in the capital markets and lead partner Dana Schweigelová was this year named as an arbiter of the Prague Stock Exchange's (PSE) permanent arbitration court by the PSE Exchange Chamber (the highest executive body of the PSE).

Martin Dan_i_in is a driving force on the transactional side and last year advised Deutsche Bank in connection with the issue of €1 billion of 7.5% senior secured notes due in 2017 by Conti Gummi Finance. Furthermore, the firm advised Citigroup Global Markets and RBS in connection with the issue of €625 million of 6.5% senior secured notes due in 2016, and €625 million of 7% senior secured notes due in 2018 by Conti Gummi Finance.

Glatzova & Co is a solid tier three firm in banking and project finance. The firm's strengths lie in transactional debt market work and financial regulation. Dana Schweigelová is a prominent figure in the firm and has recently become a member of the Appeal Committee of the Czech National Bank (the integrated financial market regulator). She is also a member of the project team organised by the Czech Banking Association, which is working on standard syndicated loan documentation for the Czech local market.

On the transactional side the firm advised Deutsche Bank Luxembourg among others in regard to a €16 billion facility consisting of a syndicated forward start facility, a multi-currency term loan and revolving credit facilities to Continental. The firm has also advised Raiffeisenbank with regard to project financing of the construction of photovoltaic power plants in the Czech Republic.

Glatzova & Co has been described as a "solid local firm" and Vladimira Glatzova has been described as a "very active and hardworking person". The firm is known for its legal proficiency and commercial awareness some peers observed that there has been a lack of visibility. However the firm has strengthened its practice this year and recently hired counsel Petr Cech.

In terms of deals last year the firm advised on the sale of a 50% share in Europasta by two individuals to strategic investors. The deal involved the structuring of a joint venture between four shareholders and included elements, which covered future cooperation with the investing shareholders.

The team was also involved in the €11 million restructuring of Netretail Holding which included new capital investment of Intel Capital and the entry of new investors into the market, primarily MCI TechVentures (Polish private equity fund). The transaction involved a range of Dutch corporate law governed aspects and the preparation of a complex shareholders agreement among several Czech, UK and Polish entities and individuals.

Finally the team advised on the acquisition of several Czech and Slovak subsidiaries of the Alcan Group (a part of Rio Tinto) by Apollo Global Management and worked on the sale of shareholding in Energie Baden-Württemberg by EDF International.

The market views Glatzova & Co as a solid firm with "primary focus on banking and finance work in the local perspective". Nevertheless, with its long history the firm is well established and has been active over the last year in restructuring and insolvency. "They have a good practice in this field," says one partner.

At €13 million, the firm acts for Volksbank as a secured creditor in the bankruptcy of Prumyslové stavitelství Brno (which is one the biggest bankruptcies in the Czech Republic over the last few years). At €111,000, the firm represents Ford and FCE Credit as applicants in the proceedings on declaration of bankruptcy against Mlcak (an automotive dealer). Additionally, the firm is representing Faktor as a creditor in the bankruptcy proceeding of Zefa Tvrdonice at €200,000.