On 7 June 2023, Bucharest Tribunal annulled, in the first instance, the zonal urban plan („ZUP”) of the 2^nd District and suspended its effects until the final resolution of the case file, noting that it reduced green spaces, allowing the construction on tens of hectares of such areas, including areas occupied by parks, lakes, sports fields, etc. The case file is currently in appeal before Bucharest Court of Appeal[1].

Can one or more of a company's shareholders claim that a transfer of shares to third parties by other shareholders is null, even if the claimants were not interested in acquiring those shares? And when faced with such a claim, would Romanian courts rule in favour of the claimant? A recent court ruling has answered both questions with a resounding "yes", opening new horizons in M&A-related matters in Romania.

Stratulat Albulescu, working with Taylor Wessing, has advised the Mitel Group on its acquisition of Unify from the Atos Group. Garrigues and Mattos Filho reportedly advised Mitel as well. The French office of Baker McKenzie reportedly advised Atos.

It may come as no surprise to interested parties (such as textile and footwear producers, environmental specialists and activists) that the European Commission has proposed a targeted revision of the Waste Framework Directive to address the issue of textile waste (the “Proposal”).

Noerr has advised Romanian corrugated cardboard and tissue paper company Vrancart on the National Recovery and Resilience Plan financing for its construction of a 20-megawatt photovoltaic park.

Romanian lawyer Andreea-Paula Armanu-Costache has joined the European Investment Fund as a Legal Counsel in Luxembourg.

Recently, there has been a strong trend in several EU Member States to correct economy imbalances through price and tariff capping measures. This is also the case in Romania, where certain industries or market segments are subject to capping and control measures. (e.g., MTPL insurance, certain segments of the energy market, staple foods, etc.).

Musat & Asociatii has advised Naxxar Renewable Energy on the sale of a 60% stake in the 685.6-megawatt Naxxar Wind Farm Four in Tulcea County to Polenergia, with an option for the remaining 40%.

Nestor Nestor Diculescu Kingston Petersen, working alongside Armstrong Teasdale, has advised Insight Enterprises on its acquisition of Amdaris.

Stratulat Albulescu, working with San Francisco-based Fathom Law, has advised 3VC on leading the USD 10 million series A financing round for Romania's Creatopy together with Point Nine. BPV Grigorescu Stefanica, working with Wilson Sonsini Goodrich & Rosati, advised Creatopy and its founders.

Stoica & Asociatii has recently announced the establishment of a new management structure – the Executive Council of the Partners Assembly – including Founding Partners Valeriu Stoica and Cristiana Stoica, Senior Partners Catalina Dicu and Dan Rares Raducanu, and Managing Partners Andreea Stoica and Dragos Bogdan.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

Former Jeantet Global Partner Ioana Knoll-Tudor has joined Addleshaw Goddard as a Partner in its Paris office to develop its International Arbitration team.

Bucharest's Suciu Popa has entered a strategic partnership with accounting and financial consultancy Vulpoi & Toader Management.

Data Protection is one of Nestor Nestor Diculescu Kingston Petersen’s hottest practices. Partner and Head of Data Protection Iurie Cojocaru explores the roots, the shifts, and the drivers behind this work, and looks to the practice’s future trajectory.

Wolf Theiss has advised DTEK Renewables International on its acquisition of a 60-megawatt installed capacity wind energy project in Ruginoasa, Iasi county, Romania, from local entrepreneurs. Kommunalkredit Austria AG provided a EUR 55 million senior facility for the project.

It is said that every cloud has a silver lining. As unfortunate as the consequences of the COVID-19 pandemic were, one of them was in fact positive: Romanian legislators sprang into action to adopt measures accelerating the digitalization of public services.

In a significant development, the European Parliament and Council have recently reached a preliminary agreement on a set of new regulations designed to combat misleading advertising and provide consumers with more accurate product information. This agreement aims to strengthen consumer rights and tackle deceptive marketing practices, including greenwashing and planned uselessness of products.