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ZRVP Successful for Banca Transilvania Before Court of Justice of the European Union

ZRVP Successful for Banca Transilvania Before Court of Justice of the European Union

Romania
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Zamfirescu Racoti Vasile & Partners has successfully represented Banca Transilvania in a contract dispute before the Court of Justice of the European Union.

According to ZRVP, in its July 9, 2020 judgment, the CJEU rules that "a contractual term, be it even not negotiated, which restates a suppletive rule of the domestic law, falls outside the scope of application of Council Directive 93/13/EEC on unfair terms in consumer contracts."

According to ZVRP, "the judgment ... is important for the resolution of disputes between debtors and banks, in the sense that a debtor has the obligation to reimburse a loan in the agreed foreign currency and irrespective of the fluctuations of such currency."

ZRVP’s team consisted of Senior Partner Stan Tirnoveanu and Managing Associates Laura Retegan and Alexandru Iorgulescu.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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