Popovici Nitu Stoica & Asociatii has assisted Voestalpine AG on the acquisition of a 60% stake in Travertec Buzau from PCM RAIL.ONE AG. Tuca Zbarcea Asociatii advised RAIL.ONE on the sale.
ZRP Promotes Monica Strimbei and Catalin Micu to Partner
Zamfirescu Racoti & Partners has promoted Monica Strimbei and Catalin Micu to Partner.
Readiness is All: Schoenherr Romania Helps Companies Comply with Competition Authority Guidelines
Romania’s Competition Council is one of the country’s most active and demanding regulatory authorities, with hundreds of sector inquiries and investigations conducted in two decades of activity and significant fines being levied against offenders each year. The powers of the RCC have increased in recent years, as a result of efforts to encourage and protect whistleblowers, new developments in forensic procedures, and cross-border cooperation and action. In addition, the European Commission’s March 22, 2017 proposal to empower national competition authorities is expected to increase the RCC’s reach and efficiency.
Maravela | Asociatii and Kinstellar Assist with Precision for Medicine Acquisition of Argint International
Maravela | Asociatii has assisted Precision for Medicine in connection with Romanian law aspects of its multi-jurisdictional acquisition of contract research organization Argint International. Bird & Bird was lead counsel to Precision for Medicine on the deal. Kinstellar's advised the sellers on Romanian, Czech, and Hungarian aspects of the deal, working with lead counsel Osborne Clarke.
ZRP and TGA Successful for Romania in ICSID Arbitration
Zamfirescu Racoti & Partners and Tanasescu Gavrila & Asociatii have successfully represented the Romania state in an ICSID investment arbitration initiated by Alpiq AG Switzerland involving claims of over USD 450 million.
PNSA Advises DB Schenker on Merger
Popovici Nitu Stoica & Asociatii has advised DB Schenker on the merger of its Romanian business into one company.
Wolf Theiss Assists Revetas with Acquisition of Landmark Office Complex in Romania
Wolf Theiss has assisted funds advised by Revetas Capital Advisors LLP, a real estate investment advisor focussed on the CEE market, in the acquisition of the Landmark, a premium office complex located in Bucharest’s Central Business District, from Manali Holdings Limited and Daphne Consultancy Real Estate SRL. PeliFilip reportedly advised the sellers on the deal, which closed at the end of October 2018. Financial terms were not disclosed.
Ijdelea Mihailescu Assists Black Sea Oil & Gas with Gas Transmission Contract for Midia Gas Development Project
Ijdelea Mihailescu has assisted Black Sea Oil & Gas throughout the performance of the open season capacity booking process and its entrance into a gas transmission contract with SNTGN Transgaz necessary for the Midia Gas Development Project, a project aimed at putting the natural gas of XV Midia Block, offshore Black Sea, into production.
Lucian Vitelaru Moves from NNDKP to Radu si Asociatii in Bucharest
Former NNDKP Managing Associate Lucian Vitelaru has joined Radu si Asociatii — the Romanian member of EY Law — as Senior Managing Associate and Head of Real Estate.
Tuca Zbarcea & Associates Advises Syndicate of Banks on MedLife Credit Facility
Tuca Zbarcea & Associates has advised a syndicate of banks consisting of Banca Comerciala Romana, Raiffeisen Bank, BRD Groupe Societe Generale and Banca Transilvania on a syndicated credit facility for MedLife.
NNDKP Successful for Baylor Marea Neagra Foundation in Romanian VAT Dispute
NNDKP has successfully represented the Baylor Marea Neagra Foundation in a dispute against the Romanian fiscal authorities, and as a result the foundation may continue to donate medicines necessary for treating severe health conditions.
Distance Contracts: The Paperless Solution
At a global scale, trends in the financial sector are undoubtedly oriented towards digitalization. By employing new technologies, financial institutions are striving to meet clients’ surging demand for contracting financial services via digital channels. In other words, the spotlight is turning from branch-proximity to digital-technology, as the use of paper-based documentation and the need for clients to be present in person when contracting financial services are shrinking.
The Oil & Gas Offshore Law: A Romanian Odyssey
Debate is raging about the Romanian "offshore" law setting out the legal framework for oil & gas exploration and production in the Black Sea offshore perimeters (the "Offshore Law" or the "Law"), fuelling political turmoil and deterring investment. After a failed attempt to pass the Offshore Law in summer, there are signs of much needed stability.
New Romanian legislation passed regarding the processing of personal data by the authorities for the purposes of the prevention, investigation, or prosecution of criminal offences, and on the free movement of such data
The Romanian Parliament recently passed a piece of legislation in view of transposing Directive 2016/680 on the protection of physical persons with regard to the processing of their personal data by competent authorities for the purposes of the prevention, investigation, detection or prosecution of criminal offences or the execution of criminal penalties, and on the free movement of such data (“Directive 2016/680”). The legislation is currently pending entry into force.
The Corner Office: Mentors
In The Corner Office we ask Managing Partners across Central and Eastern Europe about their unique roles and responsibilities. The question this time around: Who was your mentor, and what was the most important lesson you learned from him or her?
BRH Successfully for Monsson Group on Tax Challenge Before Romanian High Court of Cassation and Justice
Berechet Rusu Hirit has successfully represented the Monsson Group, a green energy producer and owner of two wind farms in Constanta, Romania, in front of the the country's High Court of Cassation and Justice in a tax dispute.
Reff & Associates Advises Patria Bank on NPL Sale
Reff & Associates, the Romanian member of Deloitte Legal, has advised Patria Bank on the sale of a portfolio of non-performing loan receivables with a nominal value of approximately RON 245 million to InvestCapital LTD, a part of the KRUK Group.
Suciu Popa Assists KMG International in Creating Kazakh-Romanian Investment Fund
Suciu Popa & Associates has represented KMG International in connection with the structuring and creation of the new Kazakh-Romanian Investment Fund.