Cobzac & Partners has successfully represented Latvia's SIA Fertco fertilizer distributor in its attempt to obtain the partial annulment of an arbitral award in Moldova's courts.

Mitroi, Damian, Serbu & Associates and Ireland's Crowley Millar Solicitors have successfully represented Romanian airline Just-Us Air in arbitration with Air Moldova, the largest Moldovan airline.

“Finally, there has been some positive movement on the political scene,” says Gladei & Partners Managing Partner Roger Gladei, referring to Moldova’s Presidential elections last November. “President Maia Sandu’s win marked the beginning of a new political era for Moldova,” he says. “At least that’s the sentiment in the streets.” As the presidency is expected to make a dramatic 180 degree turn towards the West, President Sandu presents a strong contrast to the previous, more Russia-friendly administration.

“The most important news right now in Moldova relates to the results of the recent presidential elections,” says Cobzac & Partners Managing Partner Daniel Cobzac, from Chisinau, referring to the November 15 victory of former World Bank economist Maia Sandu over incumbent Igor Dodon, the leader of the pro-Russian “Party of Socialists of the Republic of Moldova,” which holds a parliamentary majority.

Turcan Cazac Managing Partner Alexander Turcan has been elected Vice President of the Chisinau Bar.

Romania's Mares & Mares law firm and Moldova's Dolea & Co have entered into a strategic alliance aimed at, according to Mares & Mares, “providing integrated legal services in Romania and the Republic of Moldova in the field of white-collar crime, investigations, international disputes, as well as commercial and investment arbitration."

Andersen Global has signed a Collaboration Agreement with Turcan Cazac to establish a presence in the Republic of Moldova.

Gladei & Partners and K&L Gates have advised the EBRD on the acquisition of a 25% stake in Vestmoldtransgaz, a gas transmission company operating the newly built Ungheni-Chisinau gas pipeline. Turcan Cazac reportedly advised Vestmoldtransgaz on the deal.

The new version of the Moldovan Civil Code, which came into force pursuant to the Law to Modernize the Civil Code and to Amend Certain Legislative Acts 133/2018 (the “Law”), reformed several features of the private law and turned out to be a real challenge for all kind of individuals and organizations, from natural persons and entrepreneurs to public authorities.

The COVID-19 pandemic has revealed a certain degree of inflexibility and lack of vision with regard to employment regulations and rules, especially in Eastern Europe, where countries which were slower to adjust than their Western European counterparts. Unfortunately, Moldova was no exception, and Moldovan businesses have frequently found themselves in positions where there were no obvious legal and commercial options available to their specific situation during this pandemic. 

The time is gone forever when our lawyers would sit down in a physical data room to dig through tons of documents provided by the target’s head of legal or corporate secretary. We will miss the personal contact, but it’s fair to say that the due diligence process has become more streamlined and efficient in Moldova, making it possible to shrink the timing of M&As and close deals in weeks rather than months.

A Fortunate or Unfortunate Positioning

I was born in Moldova and obtained my first degree in law from a Moldovan university 20 years ago. Since its independence in 1991, Moldova – a small landlocked country located between Ukraine in the East and Romania in the West – has struggled to survive, being torn apart by various geopolitical interests, political havoc, corruption, and economic fluidity. The legal industry has struggled as well. Although a lot has changed in my time as a lawyer, I cannot confidently say that the legal industry in Moldova has witnessed tremendous growth.

Hillmont Partners has obtained an award for interim measures for client Komaksavia Airport Invest Ltd in arbitration against the Republic of Moldova related to the concession agreement for the Chisinau International Airport. 

Over the past few years CMS advised the OTP Bank Group on an extensive series of acquisitions across Bulgaria, Moldova, and former Yugoslavia. This series of separate deals was shortlisted for CEE Legal Matters’ CEE Deal of the Year in each of the countries involved, actually winning the 2018 Deal of the Year for Bulgaria and the 2019 Deal of the Year Award for Montenegro. We reached out to Eva Talmacsi, who led CMS’s multi-jurisdictional team, to learn more about the firm’s impressive work on OTP’s behalf.

The Spring of 2020 brought the pandemic to CEE, with its “perfect storm” of ingredients – including significant legal ramifications. Whether you are an individual, a business, or a governmental official, the storm made you ask at least one of these questions: “What are my rights in pre-existing contract?”, “Am I still bound to pay?”, “Can I get my money back?”, “Will I be liable for this?”, and “What legislation is needed to help ease the impact on the public?” 

After operating under the brands Andersen Tax, Andersen Legal, and Andersen Tax & Legal, the member firms of Andersen Global in Europe, will now operate under a single brand: "Andersen".

ACI Partners’ Igor Odobescu Interviews Duet Private Equity Limited Operating Partner Boris Salas, about the Deal of the Year in Moldova