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For our Checking In feature, we reach out to partners and heads of practice across CEE to learn how specific practice areas are faring in their jurisdictions. This time around we asked Tax experts: What are the most important changes to the Tax laws in your country since January 2020 and what has their impact been? 

After more than 4-5 years from the initiation of the proposal made by the business environment and long discussions of the tax forums with the legislators, including at level of the Coalition for the Development of Romania, the fiscal consolidation in the field of corporate income tax was formalized by Law no. 296/2020 at the end of 2020.

On December 15, 2020 CEELM gathered legal experts from across the region for its annual Year-in-Review Round Table conversation. In a wide-ranging discussion, participants shared opinions and perspectives on their markets, on strong (and less-strong) practices across the region, and the effect of the COVID-19 crisis on both, as well as on how technology is changing the legal industry, and what the industry will look like in 2021.

Horea Popescu, Managing Partner of CMS Bucharest and Head of CMS’s Corporate M&A Practice in CEE Looks Back at an Unusual Year.

PeliPartners has advised Alpha Real Estate Services, a member of the Alpha Bank Group, on the sale of three major hotels in downtown Bucharest — Hotel Venetia, Hotel Central, and Hotel Opera — to Zeus International Group. Biris Goran advised Zeus International Group on the deal.

Stratulat Albulescu has helped Konig Frankstahl S.R.L. obtain authorization to take over the business line related to metallurgical products belonging to Frankstahl Romania S.A. in a simplified merger control procedure before the Romanian Competition Council.

Radu si Asociatii has advised S.N. Nuclearelectrica S.A. on the acquisition of a uranium oxide processing line from Compania Nationala a Uraniului S.A., Feldioara Branch. The transaction is subject to regulatory approval and closing conditions agreed upon by the parties.

For our Checking In feature, we reach out to partners and heads of practice across CEE to learn how specific practice areas are faring in their jurisdictions. This time around we asked Data Protection experts: Overall, how compliant would you say economic agents are with relevant local regulations on data protection, and what are the main gaps that have yet to be addressed?

RTPR has advised Swedish private equity fund Oresa on the acquisition of the Solo logistics and industrial park in Iasi, Romania, from the Tester Group, which is owned by Romanian businessman Bogdan Pitigoi. Pacuraru, Iliescu, Mazareanu & Associates reportedly advised the Tester Group on the deal.

Kinstellar has helped the Business Lease Group B.V. and its CEE subsidiaries obtain a EUR 242 million refinancing loan in the Czech Republic, Hungary, Romania, and Slovakia from a syndicate of ABN Amro Bank N.V., ING Bank N.V., and Cooperatieve Rabobank U.A. Clifford Chance reportedly advised the lenders.

With the Act Legal alliance announcing an integrated brand (reported by CEE Legal Matters on March 18, 2021), we spoke with Martin Randa, Managing Partner, Act Legal Czech Republic, Marek Wojnar, Managing Partner, Act Legal Poland, Stefan Botezatu, Managing Partner, Act Legal Romania, and Roman Hager, Partner, Act Legal Austria, to learn more about what the integration of the brand means for the alliance and what its plans are for the future.

In the current context, marked by an ever-increasing impact of climate changes and under the umbrella of EU strategies involving soil protection-related issues (most notably the Soil Protection Strategy and the EU Biodiversity Strategy for 2030 - a core part of the European Green Deal), the Romanian authorities have started to take steps in the direction of acknowledging, by means of a dedicated legal framework and mechanisms, the paramount importance of soil, for the purpose of ultimately supporting a sustainable development of this non-renewable natural resource.

Solar power installed capacity in Romania is currently of almost 1400 MW, representing 6.8 % of the total installed capacity of the country. This capacity was largely installed in the period 2012 - 2016, during the first boom of renewable projects boosted by a generous support scheme. The pipeline of available projects was much bigger.

Romanian Knowledge Partner

MPR Partners 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 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 & Asociatii 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 can be found at www.mprpartners.com.

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