The Romanian Bostina si Asociatii law firm has announced that it will give up its venture in the insolvency and industrial property markets. It will close the separate Bostina si Asociatii Insolvency and Bostina si Asociatii Industrial Property entities.
The decision to close the two ventures resulted from recent changes in Romanian regulations, which now forbid law firms from using the same brand name on connected consultancy firms (such as Tax, IP, Insolvency, etc). Bostina si Asociatii Industrial Property was established in 2006, while Bostina si Asociatii Insolvency was established in 2009.
Gheorghe Bostina, the law firm's Managing Partner, stated that they were sad to have to close the two consultancy lines of business but wanted to ensure compliance with the regulations, while keeping the focus on Bostina si Asociatii's core business: legal consultancy.
