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.

The Bucharest-based Iulia Berea Law Office and the Budapest-based Chen Law Firm have joined the BLS-CEE network. The two firms' respective Managing Partners – Iulia Berea and Chen Chen – have also joined BLS-CEE as Collaborating Partners.

Contributed by MPR Partners.

After years of anticipation and waiting, 2023 appears to be the year in which crypto-assets, as major applications of blockchain technology in finance, will be finally regulated by the European Union („EU”) legislation, namely, by the Regulation on Markets in Crypto Assets (“MiCA Regulation”), which is susceptible to affect the rights, obligations and interests of many existing and future generation of businesses and investors across the globe.

Former Telekom Romania Data Protection Officer George Manea has joined KPMG Legal Toncescu si Asociatii as a Senior Managing Associate and Head of the firm’s Life Sciences, Technology & Compliance practice.

Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership have advised Arcelik on the establishment of a joint venture between its Ardutch subsidiary and Whirlpool Corporation subsidiary Whirlpool EMEA Holdings to create a new standalone business in the European home appliances sector. Latham & Watkins advised Whirlpool.

Dentons has advised NEPI Rockcastle on a EUR 60 million green financing for Ploiesti Shopping City from a syndicate of lenders led by BRD Groupe Societe Generale. 

Law no. 40/2023 amending the Offshore Safety Law no. 165/2016 (Law 40) is applicable as of January 18, 2023.

On November 16, CEE Legal Matters reported that Popescu & Asociatii had successfully represented the interests of the City of Sinaia in a construction dispute. CEE In-House Matters spoke with Vlad Oprea, the Mayor of Sinaia, to learn more about the matter.