The Constitutional Court has ruled against amendments to the Czech Commercial Code passed by the lower house of Parliament last year, and, as a result, has declared that the Commercial Code of 1991 will be valid as of March 31, 2003. Therefore, the exception from obligatory buyouts for new owners of privatized state-owned companies remains in effect. The CC has yet to directly address the actual buyout exemption, however.
Jiri Soustruznik