In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With a rough year drawing to a close, and market uncertainties running high, the question this time: If you had a million dollars, what would you invest it in today?

According to Law no. 17/2014 on the regulation of the sale of agricultural land located outside a built-up area (Ro. extravilan), an 80% tax applies to the sale of such land if it is sold before the expiry of 8 years from its purchase.

Filip & Company Counsels Cristina Tudoran and Silviu Vasile have been appointed as Partners with the firm.

BPV Grigorescu Stefanica has advised Omnia Capital on its acquisition of Dumagas from Bancroft.

Voicu & Filipescu has successfully represented a client before the court of first instance and on appeal in a medical malpractice case, being awarded RON 550,000 in damages.

Former Vlasceanu, Nyerges & Partners Partner Mihaela Nyerges has established Nyerges & Partners in Romania, with the new firm opening for business on January 1, 2023.

A two-and-a-half-year deadlock impeding the sale of Romanian farmland located outside buildable areas and acquired less than eight years ago seems to have been finally cleared. On 2 February 2023 a much-awaited normative act came into effect, filling a series of legislative gaps and allowing public notaries to authenticate sale agreements for certain types of farmland located outside buildable areas.

Law 43/2023 on the introduction of a tax amnesty for tax liabilities, including interest and penalties for late payment, calculated by the tax authorities following the reclassification of income from gift vouchers obtained by individuals from persons other than employers, from the category of income from other sources to the category of salary income, was published in the Official Gazette no. 163 on 24 February 2023.

The EU support for renewables, fostered from the outset by climate change and environmental/health as well as energy independence concerns, has prompted across the years a booming renewable business. Then the war in Ukraine broke out and the ensuing energy crisis raised a structural question mark on how EU could best react to these challenges and what role would the renewables play in the process.

Former Bancila Diaconu si Asociatii Senior Manager Alex Slujitoru has joined Deloitte Legal Romanian affiliate Reff & Associates as a Partner and Head of the firm's Tax Litigation practice.

Cytowski & Partners and BPV Grigorescu Stefanica have advised Romanian tech company Veridion on its USD 6 million seed financing round led by Launchub Ventures with OTB Ventures and Underline Ventures together with existing investors Day One Capital and Gapminder VC. BPV Grigorescu Stefanica also advised Launchub, OTB, and the existing investors. Reportedly, solo practitioner Konstantina Chilingirova also advised Launchub, while Greenberg Traurig also advised OTB, and Sirbu & Vornicu advised Underline Ventures.

Following Order no. 3265/21453/2022, to which we drew your attention in early November 2022 here, the Minister of Research, Innovation and Digitization has approved the structure of the Body of Experts enrolled in the National Register of Experts for certification of research and development activity (REXCD).

A high degree of effervescence in the country, with massive legislative updates both taking hold and still in the works – as well as a potential Prime Minister rotation soon to come – is what keeps lawyers talking in Romania, according to Act Legal Romania Partner Laura Estrade.

Clifford Chance has advised Banca Comerciala Romana and Erste Group Bank on the financing for Enery Power Holding’s acquisition of the Romanian renewable energy portfolio from Jade Power Trust.

Clifford Chance has advised a club of Czech banks led by Ceska Sporitelna on their financing for the Rohlik Group. White & Case advised Rohlik.

PwC Legal Romanian affiliate D&B David si Baias has advised US-based investment fund Broadhurst on the sale of Romanian bakery group Vel Pitar to Mexico's Grupo Bimbo.

Schoenherr has advised Eurobank Greece on the sale of a commercial real estate asset in Iasi, Romania, to the real estate division of the Radacini Group.

Dentons has advised Romanian state-owned CEC Bank on the establishment of its EUR 600 million medium-term note program and its first two issuances amounting to over EUR 249 million. Clifford Chance advised arrangers Citigroup and Raiffeisen Bank International.