Vladimír P. Polach

Sberbank CZ was an indirect subsidiary of the Russian state-owned bank Sberbank. In 2020, it was the 10th largest Czech bank by assets and had a total of 95,000 individuals and 11,000 companies on its client list. Its rapid fall into insolvency and subsequent bankruptcy is described in more detail below. After the start of the Russia-Ukraine war on 24 February 2022, many countries began to take measures against Russian financial institutions and their subsidiaries.

We are pleased to invite you to an in-person seminar that will address the specific challenges and compliance risks arising from the complexities of EU sanctions, export controls and trade dynamics in an increasingly volatile geopolitical and regulatory environment.

The Czech Class Actions Act, effective 1 July 2024, allows claimants to bring mass claims against corporations and entrepreneurs before Czech courts. The new law enables collective enforcement of consumer claims against businesses, a process previously limited in the Czech Republic. This introduces risks, particularly for businesses with a large number of consumers in liability-exposed sectors such as financial services, insurance, energy and other data-driven businesses.