What does the cancellation of a job position represent and what impact does it have on the employee that occupies such job position?

Schoenherr has advised SpeedValue on its acquisition of Code Agile, operating under the Codegile brand.

On 28 June 2023, the European Commission published the proposals for the legislative package on payment services (“Revised Payments Legislative Package”) that will replace the Directive (EU) 2015/2366 on payment services in the internal market (“PSD 2”) and Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (“EMD”) and merge the legal frameworks applicable to payments and electronic money services.

Schoenherr has advised AkzoNobel on the sale of its extruded polystyrene insulation material production activities in Romania to HIRSCH Porozell.

Popovici, Nitu, Stoica & Asociatii has advised Banque Banorient France Romania Branch on a EUR 22 million financing granted to an undisclosed real estate developer.

Bondoc si Asociatii has advised RetuRO Sistem Garantie Returnare on a RON 426 million (approximately EUR 85.7 million) green financing from ING Bank N.V. Amsterdam – Bucharest Branch.

There is still room for optimism in Romania, as the economy is seeing continued investments across a number of sectors, with the energy transition and renewables, automotive, defense, and infrastructure projects driving growth, according to Kinstellar Partner Iustinian Captariu.

Bulboaca & Asociatii, working with Morgan, Lewis & Bockius, has advised the Canpack Group on contracting a new EUR 100 million revolving credit facility from a consortium of banks led by BNP Paribas Bank Polska. Kinstellar, working with Linklaters, advised the banks. 

Tuca Zbarcea & Asociatii has successfully represented BMC Truck & Bus in two challenge proceedings arising from Bucharest Municipality's tender for the delivery of 100 electric buses and the related charging infrastructure.

Popovici Nitu Stoica & Asociatii has successfully represented Auchan Import Export Roumanie before Romania's High Court of Cassation and Justice in a dispute against the country's National Agency for Fiscal Administration regarding approximately EUR 2 million in additional profit taxes.

By Order no. 2.048/2022 amending accounting regulations applicable to economic operators (“the Order”), published in Official Gazette no. 878/07.09.2022, the Romanian authorities have transposed into national law the provisions of EU Directive 2021/2101 of the European Parliament and of the Council of 24 November 2021 (“the EU Directive”) amending Directive 2013/34/EU as regards the disclosure of income tax information by certain undertakings and branches.

Clifford Chance has advised the underwriters of Hidroelectrica's RON 9.3 billion initial public offering. Filip & Company advised Fondul Proprietatea on the sale of its entire shareholding during the IPO. Dentons advised Hidroelectrica on the issuance and listing on the Bucharest Stock Exchange.

The realm of artificial intelligence (AI) has recently found itself entangled in legal disputes revolving around copyright infringement. These legal battles have raised important questions about the boundaries of AI training data and the implications for copyright protection.

RTPR has advised Baltic company Piletilevi Group on its acquisition of Departamentul Logistic Event in Romania, the owner of the bilete.ro website. 

Ijdelea & Associates has announced it is advising Black Sea Oil & Gas on the development of an offshore wind farm in the Black Sea targeting a capacity of three gigawatts.

Schoenherr has advised DDM Holding on the acquisition of a non-performing loan portfolio with a face value of over EUR 1 billion from Intrum. DLA Piper advised Intrum on the sale and its exit from the Romanian market.

RTPR and Allen & Overy have advised Innova Capital on the acquisition of a majority stake in EMI Equipement Maintenance Industrie from Morphosis Capital, Belemi, and founder Jerome France.

Clifford Chance Badea and Stoica & Associates have successfully represented Orange Romania before the High Court of Cassation and Justice in a dispute with Romania's Competition Council concerning a EUR 13.5 million fine it had issued the company in the investigation of an alleged abuse of dominant position.