2018 saw the introduction of the Romanian movie production cash rebate system and a subsequent uptick in movie productions seeking to develop in Romania. The ambitiously outlined rebate system seemed quite appealing, initially. However, over the past three years, it failed to live up to its original goals.
The Legal Market’s Online Marketplace – Introducing QuickLegal
The QuickLegal online marketplace was launched in 2021 in Romania, aiming to provide answers to legal questions for individuals and small businesses by effortlessly connecting them with relevant lawyers. CEE Legal Matters spoke with two of QuickLegal’s three Co-Founders – Iulia Caizer and Luminita Busuricu – to learn more about their project, progress, and plans.
BPV Grigorescu Stefanica and Filip & Company Advise on Alsendo’s Investment in Innoship
BPV Grigorescu Stefanica has advised Innoship Technology, its shareholders, and investor Gapminder on an investment by Abris Capital Partners portfolio company Alsendo. Filip & Company advised Alsendo.
RTPR Advises Multimedia Est on Hotnews Acquisition
Radu Taracila Padurari Retevoescu has advised Multimedia Est on its acquisition of the Hotnews group from Media Bit Software and Smile Media. Solo practitioner Oana Coroian reportedly advised the sellers.
Wolf Theiss and Filip & Company Advise on Dr. Max Group Acquisition of Gedeon Richter Romanian Pharmacies and Distribution
Wolf Theiss has advised the Dr. Max Group on the acquisition of Gedeon Richter's pharma retail and wholesale operations in Romania. Filip & Company advised Gedeon Richter.
Schoenherr and The Law Chamber Advise on Eurobank Sale of Eliade Tower to One United Properties
Schoenherr has advised Eurobank Greece on the sale of the Eliade Tower office building in Bucharest to One United Properties in a share deal. The Law Chamber advised One United Properties on the acquisition.
Reff & Associates and Tuca Zbarcea & Asociatii Advise on NEPI Rockcastle’s Acquisition of Stake in Ploiesti Shopping City from Carrefour
Deloitte Legal affiliated firm Reff & Associates has advised NEPI Rockcastle on its acquisition of Carrefour's stake in Ploiesti Shopping City. Tuca Zbarcea & Asociatii advised Carrefour.
Bancila Diaconu si Asociatii Advises Revolut Bank on Launching Unsecured Personal Loan in Romania
EY-associated firm Bancila, Diaconu si Asociatii has advised the Revolut Bank on the launch of its first lending product in Romania.
Romania: Significant Amendments Regarding Employment Relationships
Law no. 53/2003 - Labour Code (the “Labour Code”) will be amended by Law no. 283/ 2022 for amending and supplementing Law no. 53/2003, as well as by Government Emergency Ordinance no. 57/2019 regarding the Administrative Code, which was published in the Official Gazette of Romania, Part I, no. 1013 of 19.10.2022 (“Law 283/ 2022”).
Stratulat Albulescu Advises GapMinder Venture Partners on investment in OutThink
Stratulat Albulescu has advised GapMinder Venture Partners on its investment in OutThink. Cooley reportedly advised OutThink on its USD 10 million funding round.
Implications of the Amendment to Romanian Companies Law No 31/1990 and the Trade Registry’s Laws on Establishing and Operating Companies
Law No 265/2022 on the Trade Registry and on the amendment and completion of other acts of law affecting the registration with the Trade Registry (“Law No. 265/2022”) was published in the Romanian Official Gazette on 26 July 2022 and will enter into force on 26 November 2022.
Deal 5: Meta Estate Trust CFO Raluca Dragan on IPO
On August 30, 2022, CEE Legal Matters reported that Popovici Nitu Stoica & Asociatii had advised Meta Estate Trust on its IPO and listing of shares on the AeRO market of the Bucharest Stock Exchange. CEE In-House Matters spoke with Raluca Dragan, CFO at Meta Estate Trust, to learn more about the matter.
Latest Changes to Romanian Research and Development Over-deduction Rules
A joint order of the Ministers of Finance and of Research, Innovation and Digitization, No 3.265/21.453/2022, published in Official Gazette No 967 on 4 October 2022, (the “Order”) amends and supplements joint order of the Ministers of Public Finance and of National Education and Scientific Research No 1.056/4.435/2016 to approve norms on de-ductions for research and development expenses when calculating the taxable result for profit tax purposes.
Adrian Fenesan, Andrei Zamfirescu, and Tudor Oancea Make Partner at BNT Gilescu Valeanu & Partners
Adrian Fenesan, Andrei Zamfirescu, and Tudor Oancea have been appointed as Associated Partners at BNT Gilescu Valeanu & Partners.
VNP and PNSA Advise on Eurowind Energy's Pecineaga Wind Project Acquisition
Vlasceanu Nyerges & Partners has advised Eurowind Energy on its acquisition of a 48-megawatt wind project in Pecineaga, Romania. Popovici Nitu Stoica & Asociatii advised the seller.
PNSA and Mitel & Partners Advise on Sale of Provita to MedLife
Popovici Nitu Stoica & Asociatii has advised Provita owners Ada and Ovidiu Palea on the sale of a 51% stake in the company to MedLife and the new shareholder agreement. Mitel & Partners advised MedLife on the acquisition.
Wolf Theiss and Filip & Company Advise on Emona Capital's Investment in Amber Studio
Wolf Theiss, working together with Goodwin Procter and Haynes Boone, has advised Emona Capital on its USD 20 million minority investment in Amber Studio. Filip & Company advised Amber.
Suciu Popa Launches Restructuring, Insolvency, and Turnaround Practice
Suciu Popa has launched the Restructuring, Insolvency, and Turnaround practice within the firm, with Managing Partner Miruna Suciu and Partner Daciana Popa at the helm.