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In the context of the state of emergency brought on by the Covid-19 pandemic, declared on Romanian territory since 16 March 2020, the Romanian authorities have tried to come to the aid of economic operators and certain categories of professionals. They have ordered a series of measures meant to balance the distribution of risks in their activities, so as to diminish the impact suffered.

The evolution of the national and international epidemiological situation determined by the COVID-19 outbreak, along with the establishment of the state of emergency within the territory of Romania on March 16, 2020 and the subsequent extension for another 30 days of the same, determined the Romanian Government to adopt a series of new tax measures, mainly aimed at increasing the cash flow both at the level of public and private entities.

Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (“GDPR”) aims at introducing concepts and rules to strengthen the protection of fundamental rights and freedoms of natural persons in respect of data processing activities. The question has been raised on whether and how the GDPR achieves this in relation to special categories of personal data, with opinions expressed as far as to question whether a specific regime for such categories of data is still adequate when we all agree that there may be not the data itself that is special or sensitive but rather its use.

In the context of the new Covid-19 pandemic spread worldwide, the need to ensure medical equipment services is among the priorities in Romania. In this respect, on April 8, 2020, was published the Order of the Minister of Health no. 566/2020[1] (“Order 566/2020”), which approves the Methodological Norms for the application of Title XX of Law no. 95/2006 regarding the reform in the health system, for the authorization of activities in the field of medical devices (the “Methodological Norms”).

In the context of the new coronavirus outbreak, numerous legal concerns may arise in connection with the future performance of contractual obligations derived from financing agreements such as credit agreements, leasing agreements and alike.

In The Corner Office feature of CEE Legal Matters we ask Managing Partners at leading law firms across Central and Eastern Europe about their unique roles and responsibilities. In light of current events, the question for this online occurrence of the feature is: "What have been the top three most often asked COVID-19 related questions that you have gotten from clients in the last month?

Popovici Nitu Stoica & Asociatii has advised the Romanian branch of BLOM Bank France on a EUR 5 million loan to Isaran, a real estate developer from Brasov, designed to finance the development of residential projects.

Recently, a decision following a dispute resolution between an electronic communication provider and an electricity distribution provider was issued in Romania. This is a premiere and its origins sit with the provisions of the Directive 2014/61/EU of the European Parliament and of the Council on measures to reduce the cost of deploying high-speed electronic communications networks (“Directive 2014/61/EU”).

Between around 2001-2011, certain private electricity suppliers (the “smart guys”, as they were called by the press) entered into long-term (10-15 years) bilateral power purchase agreements (“PPAs”) with state-owned producers (amongst which, notably Hidroelectrica) under quite unfavorable conditions for the latter.  Basically, the “smart guys” used to buy electricity from the state-owned producers at very low prices while making large profits by re-selling this cheap electricity at much higher market prices. Such PPAs were directly negotiated between the parties outside an organized market (the whole process and the contract itself being a private and confidential matter) and many of them were loss making for the selling state-owned producers (for instance, Hidroelectrica filed for insolvency and unilaterally terminated all such contracts eventually).

Considering that the Draft Emergency Ordinance on certain measures related to corporate law (the ”Draft Emergency Ordinance”) has been launched for public debate and proposes various measures aiming to help Romanian companies in the Covid-19 outbreak context (for example, the possibility for holding virtual shareholder meetings even if such possibility is not reflected in the company’s articles of incorporation), MPR½Partners has proposed further amendments in this regard, for the purpose of assisting companies with other formalities that are difficult to achieve in the current context.

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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