Vlasceanu & Partners has advised Econergy on the EUR 150 million financing from Phoenix Insurance for the development of its PV project pipeline in Romania and Poland and on the EUR 250 million financing from RGreen Invest for renewable energy investments across Europe.

Kinstellar has advised BRD-Groupe Societe Generale on its EUR 24.3 million financing to Speedwell for the development of two green residential buildings in Timisoara, Romania. Wolf Theiss reportedly advised Speedwell.

Tuca Zbarcea & Asociatii has advised Untold Universe on the sale of a minority stake to Mozaik Investments. Filip & Company advised Mozaik.

A paradigm shift in Romania’s labor law granting additional powers to trade unions will likely liven up the area and lead to an increase in related mandates, according to Tuca Zbarcea & Asociatii Partner Serban Paslaru.

The year 2023 in Romania started with hopes for more legislative clarity concerning fire safety. Order No. 180 / 2022 issued by the Ministry of Internal Affairs for the Approval of the Methodological Norms on Fire Safety and Civil Protection Endorsements and Approvals (the “Fire Safety Norms”) was published in the Official Gazette of Romania on 27 December 2022.

MPR Partners has advised V-Ridium on its acquisition of two photovoltaic parks in Romania with a combined production capacity of 6 megawatts. Legalias reportedly advised the sellers.

The Romanian pharmaceutical sector has been constantly subject to legislative amendments and also scrutiny by numerous (tax, competition, criminal, regulatory) authorities. The base law on the healthcare system alone was modified more than 170 times in 16 years. While each authority has dealt with its own matters when regulating this sector, one of the main shortcomings is the lack of an integrated approach that, to the benefit of Romanian patients, looks holistically at aspects from clinical trials to pricing and reimbursement and claw-back tax.

Considering the current state of affairs in CEE, market dynamics have shifted in terms of where investors are looking for safe investment opportunities, with some sectors seeing steadier capital flows and others struggling. Our experts chart the current hotspots and consider whether the markets are set to shift again.

Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency and discharge of debt, and amending Directive (EU) 2017/1132 (the “Restructuring Directive“) aims to provide an updated and more efficient framework for the restructuring and support of the companies going through financial difficulties.

Former Managing Senior Associate Sebastian Drumaru has been promoted to Partner at Pop Briciu Crai Attorneys-at-Law in Bucharest.

Schoenherr has advised Nofar Energy on its acquisition of a 73-megawatt solar photovoltaic project in Slobozia, Giurgiu county.

Suciu Popa has successfully represented Electroputere VFU Pascani in a public procurement dispute over a public tender cancellation.

Wolf Theiss has advised Raiffeisen Bank in Romania on its RON 369 million issuance of 8.817% non-preferred senior eligible sustainability notes due 2027. 

Romanian lawyer Dan Rugina has joined V-Nova in London as VP Head of Legal.

Sole practitioner Liviu Bosoanca has joined Baiculescu & Asociatii as an Of Counsel and Head of the firm's Dispute Resolution department.

Recruiting staff in Romania may seem daunting to employers, specifically to those foreign-owned, unfamiliar with Romanian employment legislation. Nevertheless, if certain basic rules are determined and further observed, the recruiting procedure should run smooth and clean from a legal perspective.

Real estate is going through a transitional period, the Recovery and Resilience Plan's short deadlines are creating both pressure and legal work, while sustainability and waste management take center stage in Romania, according to Popescu & Asociatii Partner Loredana Popescu.

Popovici Nitu Stoica & Asociatii has advised Redport Capital on its EUR 3.2 million acquisition of over one hectare of land in the Petrom City area from Havi Logistics. Musat & Asociatii reportedly advised Havi.