02
Fri, Dec
63 New Articles

Against the background of a continuous transformation of the realities surrounding us, the European Union institutions have been noted to show an effervescence in their actions meant to cover the gap between reality and the legislative framework. This gap has grown with the evolution of digital technologies. Thus, the legislative framework has proven insufficient for an adequate protection, for example, of content published or shared in any way in the online environment.

Although Romania’s history with public-private partnerships (PPPs) spans over two decades, the legal framework in force until 2018 did not attract sufficient private partner interest for the development of such projects. As a result, to date, the number of successful PPPs remains rather low.

An Energy Service Company (ESCO) provides energy services and/or other energy efficiency improvement measures to consumers and, as a result of providing such services and/or measures, accepts a degree of financial risk. Payment for the services provided by an ESCO is based, in whole or in part, on the energy efficiency improvement and the fulfillment of other performance criteria agreed upon by the parties. As a rule, the ESCO is paid out of the cost reductions achieved following the energy upgrades and/or efficiency measures. Because payment is made from the energy savings, the costs of financing and implementing such an efficiency project may, based on the financing structure applied, be treated as an off-balance sheet asset.

The new Mobility Package adopted at the European level represents a significant shift in the transport sector. Its effects have been long anticipated since the Commission’s proposal in 2017, as the new regulations intended to level the playing field for transport operators from different member states. Additionally, they aim to provide equal social protection to all drivers, reduce negative competition, and standardize different administrative procedures. Considering the new procedures, transport operators are faced with a multitude of challenges to adapt their business models to the current requirements.

The last few years have brought incredible leaps in technology, all fields seeing new and impressive heights that could only be imagined twenty years ago. But the rapid developments in technology came with greater risks in terms of cybersecurity. Romania plays an important role in terms of resources and capabilities in the cybersecurity field and makes ensuring a safe cyberspace a top priority for the country.

A key institution enshrined by the Romanian legal provisions governing public procurement, the ascertaining document is issued by contracting authorities upon the finalization of a public contract and indicates whether contractors failed to fulfill their contractual obligations or have fulfilled them in a defective manner.

In Romania, the first legal enactment specifically addressing PPP projects was adopted in early 2002. In the 20 years that followed, four primary pieces of legislation on this topic have been passed, with the declared objective to provide a sound legal basis for the implementation of PPP projects. Nevertheless, each of these successive enactments was adopted not to keep pace with the practical developments in PPP matters, but rather to respond to criticism of the absence of a proper legal basis to structure and implement PPP projects.

In the current energy context, the RePower Europe package talks about an accelerated permitting procedure for renewable energy in Europe, as an absolutely measure to accelerate the development of green energy projects. However, in Romania, the permitting process for such projects is long, bureaucratic and takes about 540 days.

Although the Romanian law on transfers of undertakings has no more than two pages, it is notorious for its complexity, while the relevant case law is constantly developing. Briefly, if an undertaking is taken over by, or is transferred to, a new entity, the relevant employees are automatically transferred to the new employer, together with their existing rights provided under the individual employment agreements and the applicable collective bargaining agreement.

Change and unpredictability, among the top keywords that could best describe the past couple of years, did little to affect the overall Romanian M&A market. Publicly available figures show that dealmaking saw a strong rebound in 2021 in terms of deal numbers. The main sectors on investors’ radar were real estate and construction, IT&C, energy (with a growing focus on renewables), manufacturing and industrials, pharmaceuticals, and healthcare.

Romanian Knowledge Partner

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.

Our Latest Issue