Schoenherr has advised DDM Holding on the acquisition of a non-performing loan portfolio with a face value of over EUR 1 billion from Intrum. DLA Piper advised Intrum on the sale and its exit from the Romanian market.
RTPR and Allen & Overy Advise Innova Capital on Acquisition of EMI
RTPR and Allen & Overy have advised Innova Capital on the acquisition of a majority stake in EMI Equipement Maintenance Industrie from Morphosis Capital, Belemi, and founder Jerome France.
Clifford Chance Badea and Stoica & Associates Successful for Orange Romania on EUR 13.5 Million Competition Fine
Clifford Chance Badea and Stoica & Associates have successfully represented Orange Romania before the High Court of Cassation and Justice in a dispute with Romania's Competition Council concerning a EUR 13.5 million fine it had issued the company in the investigation of an alleged abuse of dominant position.
Esquires Helps Platipus Obtain Gaming Supply License
Esquires has helped Platipus Trading and Platipus SRL obtain a gaming supply license from the Malta Gaming Authority and the Romanian National Gambling Office.
Romania: Cross-Border Financial Services and Reverse Solicitation
This article addresses the regulatory and legal issues which arise in the provision of financial services by a financial institution located in one country (the “home country”) to a Romanian customer, without the establishment of a local presence, such as a branch or subsidiary in Romania.
Know Your Lawyer: Cristina Filip of Filip & Company
An in-depth look at Cristina Filip of Filip & Company covering her career path, education, and top projects as a lawyer as well as a few insights about her as a manager at work and as a person outside the office.
Restructuring in Romania – Will This Time Be Different?
Restructuring, both from a financial and operational perspective, has been regarded as a wonderful “nice to have” by the Romanian market, for many years. Will this time be different?
The Right To Fly the Romanian Flag
While the war has caused extensive disruption to global shipping and is likely to intensify ongoing supply chain disruptions, port congestion, and crew crises caused by the COVID-19 pandemic, in a context where Russian ships are switching their flags amid sanctions in record numbers, an increased interest in local maritime and inland transportation has been noted, including ship registration in Romania, particularly that of barges. Thus, the Romanian registration provisions could be of interest to companies in the transportation field.
Reinforcement of Social Dialogue on the Radar in Romania Again
In the past years, social dialogue in Romania has decreased in significance within labor relationships, considering the quite old-fashioned framework, having no collective bargaining agreements in place at the industry level, the lack of impactful voices at the trade union level, and the lack of general awareness of the legal framework – and of its potential positive impact on how workplace representation and collective negotiations could contribute to better business performance.
Defying Uncertainty – The Romanian M&A Market in 2023
Aligned with global trends, Romania’s M&A market suffered an apparently steady slowdown in terms of deal numbers in 2022, and not much has changed in the first quarter of 2023. While experts were expecting 2023 to suddenly jump back to 2021 levels, in reality, the well-known global factors having contributed to the slowdown of the market are not dialing back just yet.
Key Enforcement Trends and Top Priorities of The Romanian Competition Council
The practice of the Romanian Competition Council (RCC) over the last few years can be summed up in a rather simple headline: many (more) cases and substantial fines.
The Year of “Green” Ratios
Building upon the key principles set out in the UN 2030 Agenda for Sustainable Development, which included 17 sustainable development goals and 169 associated targets to be met by 2030, as well as on the provisions of the Paris Agreement, regulators in the EU have published the plan for sustainable finance (Renewed Strategy on Sustainable Finance, published in 2021 and based on the action plan originally published in March 2018). Achieving the economic transformation envisaged under the above instruments requires extensive funding, estimated by the UN at about USD 2.5-3 trillion per year.
Assessing Romania’s Oil and Gas Market: Current Progress and Legislative Changes
Romania is a key player in the European oil and gas market, being the largest natural gas producer in Central and Eastern Europe. Romania has one of the largest processing capacities in Eastern Europe and recently progressed with the development of the Black Sea reserves, currently estimated anywhere between 42 to 84 billion cubic meters of natural gas.
Construction Works that Can Be Carried Out Without a Building Permit Under Draft Urbanism Code
The draft Code of Territorial Planning, Urbanism, and Construction (the Urbanism Code) has recently been approved by the General Secretariat of the Government, on March 29, 2023. Of course, the government’s approval is just one of the steps in implementing the new rules, as the Urbanism Code must also be approved by parliament, promulgated by the president, and then published in the Official Gazette.
A Bird’s-Eye View on the State of Arbitration in Romania
The Romanian Civil Procedure Code (CPC) explicitly regulates institutional arbitration within a discrete chapter named “Institutional Arbitration” (Title VII of Book IV) and includes six articles to that effect (Articles 616 – 621 CPC).
PE-ering into Romania
With most of Europe facing turbulent times, Romanian markets are experiencing vibrant PE fund activity across a wide plethora of sectors. Popovici Nitu Stoica and Asociatii Managing Partner Florian Nitu, Wolf Theiss Partner Ileana Glodeanu, and Schoenherr Partner Madalina Neagu take a deep dive into the markets and their drivers.
Spin-Off City No More
The Romanian legal market seems to indicate a substantial downturn in law firm spin-offs, of late. Musat & Asociatii Managing Partner Paul Buta, Popescu & Asociatii Senior Partner Gheorghe Buta, and Simion & Baciu Managing Partner Cosmina Maria Simion share their thoughts on this trend, the reasons behind it, and the likelihood of it continuing.
Kinstellar Advises Jantzen Renewables on Sale of 710-Megawatt PV Cluster in Romania to OMV Petrom
Kinstellar has advised Danish developer Jantzen Renewables ApS on its sale of the Helios 1 photovoltaic cluster in Romania to OMV Petrom. Schoenherr reportedly advised OMV.