CMS Cameron McKenna and fellow network firms CMS Strommer Reich-Rohrwig Karasek Hainz and CMS Hasche Sigle have joined forces to establish a German-speaking practice based in Prague.
The joint venture between the three firms will be headed up by Andreas Ueltzhoeffer, who has joined from German law firm Schaffer & Partner.
Ueltzhoeffer will be supported by five other lawyers and three support staff.
The venture is aimed to take advantage of increasing investment by German and Austrian companies in the Czech Republic. In 2002 Austrian and German companies were responsible for 61.4 per cent of foreign investment in the Czech market – a total of US$5.7bn.
“With the Czech Republic due to join the EU in May 2004, such investment is likely to increase,” said CMS Cameron McKenna managing partner Dick Tyler. “We want to be the first point of contact for those needing lawyers that can combine German language and legal skills, with in-depth knowledge of the local market”.