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Maravela & Asociatii has advised Betty Ice, a Romanian ice cream producer, on the sale of the company to Unilever South Central Europe. The buyer was advised by Eversheds on the January 2018 deal, which remains subject to regulatory approval by the Romanian competition authorities.

The end of 2017 brought us a number of important changes in public procurement, following the legislator's motivation to refine and streamline the public procurement system, and to reform the ex-ante control function of the award of public procurement contracts / framework agreements, of sector contracts / framework agreements and works concession and service concession contracts.

Keeping track with the( hundreds of) changes to the Romanian tax legislation has never been an easy endeavor. This year things have been taken to a whole new level, as fiscal predictability, scarce as it was before, has disappeared entirely.

French lawyer Bruno Leroy is the Founding Partner of the highly-regarded Leroy si Asociatii law firm in Bucharest. Leroy, who is a member of the Paris and Bucharest Bar Associations, has been working in Romania for almost twenty years, specializing in M&A and real estate transactions and on sensitive European law and competition matters.

On July 29, 2017, a new regulation regarding the reception of construction projects (the “New Regulation”) was enacted by means of Government Decision no. 343/2017. The New Regulation, which replaced the former procedure (which was regulated by Government Decision no. 273/1994) in its entirety, provides a number of notable changes impacting the real estate and construction industry in Romania.

On July 29, 2017, a new regulation regarding the reception of construction projects (the “New Regulation”) was enacted by means of Government Decision no. 343/2017. The New Regulation, which replaced the former procedure (which was regulated by Government Decision no. 273/1994) in its entirety, provides a number of notable changes impacting the real estate and construction industry in Romania.

A number of modifications to Romanian fiscal legislation implemented on January 1, 2016, have had significant effects on both taxpayers and competent authorities. The most important of these modifications target the transfer pricing policies and the VAT payment mechanism and have had a direct effect on fiscal litigations.

Romanian Government Ordinance no. 23/2017 regarding split VAT payment entered into force on October 1, with its provisions being optional until the end of 2017. On January 1, 2018, the Ordinance becomes mandatory. 

Recent years have seen a remarkable increase in the number of international arbitration disputes involving Romanian parties. In light of its flexibility, of the freedom parties have in constituting the arbitral tribunal and choosing the seat and language of the arbitration, and the perceived speedy and effortless enforceability of arbitral awards, international arbitration has become a widely-used dispute settlement mechanism. 

Bondoc si Asociatii has assisted JD Norman Industries Inc., a US-based manufacturer of steel components, with Romanian law aspects of its acquisition of REGE Automotive Brasov. The transaction, which involved the shareholdings of REGE Group in several countries, including Germany and Romania, involved financing by Wanxiang America Corporation, and Bondoc si Asociatii assisted JD Norman Industries on Romanian law aspects of that as well. Dentons advised Wanxiang America on the financing.  

The Ministry of Energy introduced guidelines for a new support mechanism for cogeneration (technological process of simultaneous generation of electricity and useful heat in CHP plants). All existent cogeneration installations will be allowed to benefit from the support system, based on a premium paid extra in the electricity price. For new units, an auction mechanism will be introduced. A “feed-in-premium” (FiP) mechanism will be provided for those installations with total installed capacity lower than 1MW.

Romanian Knowledge Partner

MPR Partners | Maravela, Popescu & Roman is an internationally recommended and repeatedly awarded Romanian law firm providing integrated legal, tax advisory and insolvency services in all areas of interest for businesses and public administration. 

MPR Partners | Maravela, Popescu & Roman covers all major Romanian regions as well as the Republic of Moldavia, either directly or through carefully selected and closely coordinated correspondent offices. In addition, the firm has the infrastructure required to coordinate advice in multiple countries through highly reputed international networks of specialists ensuring high end services. 

Firm’s clients (multinational corporations, sound Romanian companies, private investors, public authorities and State companies) recommend MPR Partners | Maravela, Popescu & Roman as “A reliable team providing a high standard of work.” (quote by Chambers and Partners), having consistently endorsed the outstanding quality of services provided, flexible approach, responsiveness as well as the friendly working climate. 

More client feedback and further information on MPR Partners | Maravela, Popescu & Roman can be found at www.mprpartners.com.

All News about MPR Partners | Maravela, Popescu & Roman can be found here.

 

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