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The COVID-19 outbreak showed that technology lies at the backbone of our society and that the role of electronic communications services and networks in supporting our economic, educational, and social needs has increased exponentially.

The Romanian Government has recently brought important amendments to the energy regulatory framework by way of the new Government Emergency Ordinance no. 74/2020, effective May 19, 2020. According to the new regulations, new energy producing facilities, both renewable and conventional, commissioned after June 1, 2020, would be allowed to sell their output outside the current centralized energy market, at negotiated prices, with the observance of competitive rules. The amendment is intended as an exception to the general principle set out by Energy Law no. 123/2012 that transactions with electricity are carried out on the competitive market, in a transparent, public, centralized, and non-discriminatory manner.

M&A practitioners, fund managers and CEOs are living a 2020 that is rich in experiences. Of course, we all hoped this to be the best year since the 2008 crisis.

The Spring of 2020 was about to blossom when the world got trapped in a global shutdown as a result of the COVID-19 pandemic. The private sector tried to adapt by activating continuity plans. Working from home and interacting online with colleagues and customers has become the new paradigm for service businesses. In addition to a wide range of social distancing restrictions designed to contain the virus (including closing down or significantly limiting public access to many commercial, government, and leisure facilities), Romanian authorities have instituted various specific temporary relief measures, such as unemployment benefits; moratoria on consumer and corporate debt, business rent, and utilities expenses; state aid schemes representing loan and guarantee facilities for small and medium-size enterprises (SMEs); guarantees for mortgage loans; filing deferral for tax returns and rescheduling of income and property tax; and waivers of mandatory insolvency filing  and extension of certain stages in pending insolvency cases.

On February 11, 2020, CEE Legal Matters reported that Filip & Company, working with Freshfields Bruckhaus Deringer, had advised RCS & RDS / Digi Communications N.V. on its issuance of two series of senior secured bonds with a total value of EUR 850 million. Clifford Chance Badea and Cleary Gottlieb Steen & Hamilton advised the lead arrangers, which included Citibank, ING Bank N.V., and UniCredit Bank S.A.

Florina Homeghiu spent the first decade of her career in private practice before, in 2017 moving in-house with the Coca-Cola Hellenic Bottling Company – Romania, initially as Senior Legal Counsel, then, in 2018, as Country Legal Manager and Compliance Officer. In May of 2020 she joined the Policolor-Orgachim group.

On July 30, 2020, Law no. 155/2020 amending and supplementing Law no. 123/2012 on electricity and natural gas (“Romanian Energy Law”) and other regulatory acts entered into force. Part of the changes brought to the Romanian Energy Law are aimed at implementing the regulatory framework necessary for the development of an integrated EU energy market through common energy market rules and a cross-border infrastructure, pursuant to the Clean energy for all Europeans Package, including inter alia, Regulation (EU) 2019/943 of the European Parliament and of the Council of 5 June 2019 on the internal market for electricity (“Internal Market Regulation”) and Directive (EU) 2019/944 on common rules for the internal market for electricity (“Internal Market Directive”). Such framework is aimed at ensuring the necessary structure for consumers to become more active and to effectively contribute to keeping the electricity system stable, through a balance of the supply and demand.

The slow and lengthy process of completing the cadastral works and real estate publicity seems to affect not only the private property, but also the public one. In this context where the lands are not delimited and registered with the national Land Book Registry (“Land Book”), both the private investments and the projects of public interest and utility are hampered. Therefore, there was necessary to establish a complete and optimal legal framework, capable to ensure the complete evidence of assets falling under the public property of waters. The regime of waters and land areas of riverbeds are under the provisions of Water Law no. 107/1996 (“Water Law”). This background given, Law no. 122/2020 amending and supplementing the Water Law (“Law 122/2020”) was enacted by the Romanian Parliament and published in the Official Gazette of Romania on July 13, 2020.

In May 2020, a group of Romanian senators have proposed a legal enactment to prohibit the sale of shares owned by the Romanian state for a two-year period.

Despite the constant update of the public procurement legal framework, the Romanian authorities have signalled several issues related to the public procurement contracts granted to certain companies, in circumstances which are not able to comply, in all cases, with the general principles of transparency and equal treatment.

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. 

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