CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
Switzerland's Lenz & Staehelin and Romania's Leaua Damcali Deaconu Paunescu have successfully represented Romania's state-owned Hidroelectrica SA as Respondent in arbitration proceedings against Swiss energy trader Energy Financing Team AG held under the 1976 UNCITRAL Rules.
2nd Edition: Debt in European Emerging Markets, Bucharest, April 11th 2019
MDM Legal, acting on behalf of taxi request and aggregator mobile app Star Taxi, has persuaded the Bucharest Court of Appeal to suspend a decision of the Bucharest General Council and, in a later rulling, notify and prompt the Court of Justice of the European Union to determine whether that decision conflicts with EU law.
NNDKP has successfully represented the National Museum of Romanian History in the Bucharest Court of Appeals and obtained an irrevocable court decision upholding the NMIR's annulment in full of its previous decision to declare Starh Arhitectura, Constructii si Design SRL the winner of a public procurement procedure.
RTPR Allen & Overy has advised private equity fund CEECAT Capital on the sale of Brikston Construction Solutions S.A. (previously Ceramica S.A.) to the Austrian group Leier.
On 1 January 2019, the Romanian monthly minimum gross wage will increase from RON 1,900 to RON 2,080, and to RON 2,350 for employees with higher education and at least one year of work experience in such a position.
The first piece of EU-wide legislation on cybersecurity is expected to be transposed into Romanian law anytime now, bringing into play enhanced system security obligations for major companies in certain sectors, as well as fines of up to 5 % of non-compliant companies' turnover.
Dentons has advised Credit Suisse AG and Stratulat Albulescu and White & Case have advised VTB Bank Europe SE on financing for Chimcomplex SA Borzesti's acquisition of several asset bundles from Oltchim SA. Bondoc & Asociatii advised Oltchim on the sale and Reff & Associates, a member of Deloitte Legal, developed the due dilligence report based on which Chimcomplex secured its financing.
Arcliffe has assisted Yazaki on corporate and labor-related matters related to the company's activity in Czech Republic, Slovakia, Serbia, Romania, Bulgaria, Slovenia, and Croatia. ODI Law supported Arcliffe in the Adria region countries.
Introducing the concept of bonus for early payment. The year 2018.
Elena Cirlig and Paula Neculae are being promoted to Partner in the Litigation department of Musat & Asociatii in Romania.
Dentons has advised a syndicate of four banks, consisting of Bank Pekao S.A., Ceska Sporitelna, a.s., PKO BP, and ING Bank Slaski on the financing of AmRest Group.
Dana Dunel-Stancu has returned to Biris Goran to head the firm's Energy and Natural Resources practice after two years heading the legal department at Romanian power generator Hidroelectrica S.A.
I remember one of my first difficult title reviews as a lawyer in an international law firm. It was the year 2002; Romania had many unclear rules, and many state-owned companies and many properties had been confiscated by the state during communism. The review was engaging and provocative; however, after producing the legal review report (and sending it via facsimile to client, since it was before the era of e-mail), the client learned that the fantastically located site had many title issues and little or no easily available remedies.
Stratulat Albulescu has advised GapMinder on its EUR 600,000 investment in FintechOS. DLA Piper advised Fintech on the deal.
Jinga & Asociatii, the Romanian member of the Pontes network, has advised Romania's Ecofarmacia Network on the structuring, implementation, and operation of the online Pilulka.ro pharmacy platform.
Ijdelea Mihailescu has provided legal assistance to Black Sea Oil & Gas in relation to the Engineering, Procurement, Construction, Installation & Commissioning Contract for all offshore and onshore facilities and Development Drilling Contract with GSP Offshore for the Midia Gas Development Project, offshore Romania.
Maravela|Asociatii has assisted CEE chemicals producer Chimcomplex in the Romanian Competition Council's merger review procedure related to the company's takeover of Oltchim’s assets.
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