2022 was a year of significant legislative changes in the field of competition, and 2023 is set to present several challenges for the business environment. This article discusses three of the most significant competition law challenges faced by Romanian companies in 2023: no-poaching, foreign direct investment (FDI), and abuse of superior bargaining position.
Collective Bargaining At Industry Sector LEVEL – Recent Amendments And Some Practical Aspects
It has recently been noted that social actors show a growing interest in concluding collective agreements at various levels, the justification being manifold: this either represents a way to retain employees, or it is an attempt to align to market practices, etc.
DORA – a New Chapter for the Financial and ICT Sectors
In December 2022, the European Parliament and the Council adopted Regulation (EU) 2022/2554 on digital operational resilience for the financial sector and amending Regulations (EC) no. 1006/2009, (EU) no. 648/2012, (EU) no. 600/2014, (EU) no. 909/2014 and (EU) 2016/1011 (the “Digital Operational Resilience Act” or “DORA”).
One Year After the Invasion of Ukraine: Latest Updates on Protection for Ukrainian Refugees in CEE
When the Russian military launched its invasion of Ukraine in February 2022, many countries in Central and Eastern Europe (CEE) responded immediately by amending their legal framework to provide shelter for Ukrainian refugees. These neighboring nations not only provided immediate humanitarian help, but also changed their immigration law to allow Ukrainian refugees to work and live in their country.
Nyerges & Partners Advises Shikun and Binui Energy on EUR 40.5 Million PV Project Financing from Raiffeisen Bank
Nyerges & Partners has advised Shikun and Binui Energy on a EUR 40.5 million loan from Raiffeisen Bank International AG and Raiffeisen Bank Romania for a 70-megawatt photovoltaic project in Satu Mare. CMS reportedly advised Raiffeisen Bank.
Clifford Chance and NNDKP Advise on Exigent Property Development EUR 57.8 Million Financing from OTP Group
Clifford Chance has advised Exigent Property Investment on its EUR 57.8 million financing agreement with OTP Bank Romania and OTP Plc. Nestor Nestor Diculescu Kingston Petersen advised OTP Bank.
Nyerges & Partners Advises Solarpro Holding on EPC Contract for Six PV Projects in Romania
Nyerges & Partners has advised the Solarpro Holding on the engineering, procurement, and construction contract concluded for the development of six photovoltaic projects with a total capacity of approximately 35 megawatts-peak in Mures, Romania.
Suciu Popa Successful for Libra Internet Bank on Revolut Accounts Garnishment Dispute
Suciu Popa has successfully represented the Libra Internet Bank before a court of law by securing the rejection of garnishment validation for money held in Revolut accounts.
CMS and E+H Advise on DPE Deutsche Private Equity Sale of VTU Group to Altor Fonds
CMS has advised DPE Deutsche Private Equity on the sale of its stake in the VTU Group to winning bidder Altor Fonds. Milbank and E+H advised Altor Fonds.
Corporate Investigations in Romania
Corporate investigations, though a relatively new concept in Romania, are increasingly becoming common among large companies operating in the country.
RTPR and Carmen Medar Law Office Advise on Zarea Investment in Domeniile Dealu Mare Urlati
Radu Taracila Padurari Retevoescu has advised Zarea on its acquisition of a 70% stake in the Domeniile Dealu Mare Urlati group. The Carmen Medar Law Office advised the seller.
Reff & Associates Successful for Promenada Mall in Urban Planning Dispute Before Bucharest Court
Deloitte Legal Romanian affiliate Reff & Associates has successfully represented NEPI Rockcastle’s Promenada Mall Bucharest before the Bucharest Court in an urban planning-related administrative dispute resulting in the end of the suspension of the Urban Plan for Bucharest's Second District.
Cristina Cretu Makes Partner at MPR Partners
Former Senior Privacy & Technology Consultant Cristina Cretu has been promoted to a Partner position with MPR Partners in London on March 1, 2023.
A Closer Look: Dentons' Simon Dayes on Financing and PPA for Krivaca Wind Farm
On February 16, 2023, CEE Legal Matters reported that Dentons had advised a banking consortium on their EUR 155 million financing for the 103.3-megawatt Krivaca wind farm project co-owned by Serbia’s MK Group and Slovenia’s ALFI Green Energy Fund. CEELM reached out to Dentons Partner Simon Dayes to learn more about the financing.
Kuglay & Trandafir Opens Doors in Bucharest
In March 2023, the law offices of Andra-Roxana Trandafir and Irina-Ioana Kuglay have joined forces to form a new law firm in Romania: Kuglay & Trandafir – Attorneys at law.
Nyerges & Partners Advises Shikun & Binui Energy on EPC Agreement with CJR Renewables
Nyerges & Partners has advised Shikun & Binui Energy on the engineering, procurement, and construction agreement with CJR Renewables for the development of a 69.5 megawatt-peak project in Satu Mare, Romania.
Filip & Company Advises Instant Factoring on EUR 600,000 Financing Round
Filip & Company has advised Instant Factoring on a EUR 600,000 financing from several investors including MicroEurope.
Romania: Better Safe Than Sorry – Precautionary Measures in Criminal Proceedings
Serious crimes, such as tax evasion, corruption offenses, or money laundering provoke serious responses from law enforcement authorities. When such offenses are committed, the law provides for compulsory precautionary measures to be taken against the assets of the offenders, at any stage of the criminal proceedings.