Relevant legislative provisions in connection with the State of Exceptional Situation

As of October 22, 2023, a number of significant legal amendments come into effect regarding the relationships between shareholders and founders of commercial companies in the Republic of Moldova. These amendments introduce essential reforms to the Limited Liability Company Law No. 135/2007 and aim to enhance the business environment, facilitate investments, and strengthen shareholder relationships.

Tuca Zbarcea & Asociatii Partner Gabriela Anton, Gecic Law Counsel Miodrag Jevtic, ACI Partners Head of Banking/Finance Marina Zanoga, Avellum Managing Partner Mykola Stetsenko, NazaIi Tax & Legal Partner Nilay Goker Duran, PRK Partners Senior Attorney-at-Law Norbert Hink, and Schoenherr Bulgaria Local Partner Tsvetan Krumov look at how the financial services landscape in the CEE region has been shifting, as local non-banking financial institutions (NBFIs) are gradually gaining ground in an area historically dominated by the banking sector.

By the middle of 2023, Moldova will likely have a modified Competition Law. The existing Competition Law dates back to 2012, and its material and procedural norms are almost intact in their original form. Since then, however, the Moldovan economy and society underwent profound changes.

In recent years, Initial Public Offerings on foreign exchange markets became a hot topic of discussion in Moldova. The Purcari Wineries Group, one of the biggest wineries in Moldova, got listed on the Bucharest Stock Exchange Market. Others are also tackling the prospects. An IPO on a reputable market means better corporate governance, transparency, prestige, and access to new sources of funding.

The spring of 2023 brought a genuine spring mood into the Moldovan energy sector. The overall feeling is that Moldova came out of the winter that, by many predictions, should have frozen it solid and is now eagerly looking forward to bright, although still occasionally frosty, days ahead.

On June 23, 2022, the European Council granted Moldova the status of candidate country for EU accession. ACI Partners Legal Manager Carolina Parcalab, Bivol Sotchi & Partners Managing Partner Inna Sotchi, Efrim Rosca si Asociatii Managing Partner Oleg Efrim, and Gladei & Partners Managing Partner Roger Gladei explore the recent changes in Moldova resulting from its new status.

The Legal Monitoring Report deals with amendments to the Law on Joint Stock Companies and the Compulsory Licensing Mechanism, ratification of the Agreement on the Transportation of Goods, and approval of Legal Framework on Cuber Security, the FISCALIS Agreement and Ecolabel Regulations.

Contributed by ACI Partners.

Contributed by ACI Partners.

The ongoing energy crisis in Europe has underscored the urgent need to limit the reliance on imported energy sources. In a country lacking traditional energy sources like Moldova, the way to achieve that is to push for a rapid and sharp increase in renewable energy generation.

We are honored and excited to introduce (and extend a big thank you to!) our regional Final Selection Committee of Jurors for the 2022 CEE Deals of the Year awards.

In the context of signing the Association Agreement with the European Union on June 27, 2014, the Moldovan legislation underwent fundamental changes aimed at harmonizing the domestic provisions with those of the European Union.

With numerous reports of energy-related business shutdowns, we reached out to local experts across CEE to understand what different markets have been dealing with, in terms of work and production stoppages, and look into the broader impact.

Contributed by ACI Partners.

The country's EU candidate status and grave security concerns gave rise to far-reaching legislative reform in Moldova, with IPOs and digitalization in full swing, according to ACI Partners Partner Cristina Martin.

The Moldovan Government continues to promote in-depth reforms designed to meet the challenges of a digital economy. The last summer was marked by the adoption of new regulations aiming to stimulate private-sector innovation. The new legislation also instituted new responsibilities for digital platforms for creating, sharing, and streaming digital content to Moldovan users.

The sixth package of European Union sanctions imposed on Russia is a widely discussed topic, yet the overall levels of preparedness to adopt the associated energy import ban varies from one country to another. Indeed, with Russian oil and gas exports being such a dominant source of energy for a number of European countries, it remains to be seen how all of them adapt to the change. To gain insight into how certain EU member states and non-EU countries are (likely) to fare in the immediate wake of the ban, we reached out to legal professionals from Turkey, Poland, Bulgaria, the Czech Republic, and Moldova.