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Stratulat Albulescu has advised Vectr Fitness – the main shareholder of the World Class fitness chain in Romania – on the acquisition of Nextfitness & Wellness from Sergiu Irimescu and Sergiu Dan Serban. Solo practitioner Zoltan Nemeth advised the sellers.

On 13 December 2022, Law No. 357/2022 (“Law 357/2022”) on the approval of Emergency Ordinance No. 119/2022 amending Emergency Ordinance No. 27/2022 (“GEO 27/2022”) on measures applicable to final customers in the electricity and natural gas market in the period between 1 April 2022 and 31 March 2023, as well as for amending certain regulatory acts in the energy field (“GEO 119/2022”) was published in the Official Gazette of Romania no. 1198. Law 357/2022 entered into force on 16 December 2022, except for certain provisions which will enter into force at a later date. Below is a selection of some of the more relevant provisions set forth under Law 357/2022.

Lately, the tech industry seems to have taken a major hit, with more and more companies deciding to lay off hundreds or even thousands of employees and/or implementing a hiring freeze until next year. When we see FAANG (Facebook, Amazon, Apple, Netflix, Alphabet) announcing such massive layoffs, there is no point asking whether this will affect the entire tech industry. However, the question remains whether this will trigger a domino effect in the market, or even if it is the start of a new HR layoff trend and how companies should approach this situation.

Romania benefits from being one of the EU countries with lower cinematographic production costs, and that is why it is on the radar of many international studios. The cumulative annual turnover of the film industry in Romania is approximately EUR 53 million, derived mainly from foreign productions in Romania.

On November 16, 2022, CEE Legal Matters reported that Popescu & Asociatii had successfully represented the interests of the City of Sinaia in a construction dispute. CEELM reached out to Loredana Popescu, Partner at Popescu & Asociatii to learn more about the matter.

Bucharest is currently going down a rocky road insofar as urban regulations are concerned, which have gone through a real odyssey, from being judicially and administratively suspended, to some of them ending up by being finally cancelled by the administrative litigation courts.

Wolf Theiss has advised AFI on a EUR 450 million credit facility for the purposes of refinancing its three shopping centers in Romania – AFI Cotroceni in Bucharest, AFI Ploiesti, and AFI Brasov.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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