Regulation (EU) 2015/2120 of the European Parliament and of the Council laying down measures concerning open internet access and amending Directive 2002/22/EC on universal service and users’ rights relating to electronic communications networks and services and Regulation (EU) No 531/2012 on roaming on public mobile communications networks within the Union (“Net Neutrality Regulation”) has as a main scope to safeguard equal and non-discriminatory treatment of traffic in the provision of internet access services and related end-users’ rights.
Capital Markets in Romania
Contributed by Filip and Company.
Reff & Associates and NNDKP Advise on Sale of Equest Logistic Industrial Park to CTP Bucharest
Reff & Associates has advised Forum Serdika, a Dutch financial holding group owned by British investment fund East Balkan Properties, on its sale of the Equest Logistic industrial park to CTP Bucharest. NNDKP advised the buyers on the deal, which was valued at approximately EUR 30 million.
Deal 5: FirstFarms CEO Anders Noergaard on Land Acquisition in Romania
On March 11, 2020, CEE Legal Matters reported that Kinstellar had advised FirstFarms on its acquisition of agricultural land in Romania from NCH Capital. We spoke to Anders Noergaard, the Group CEO of First Farms, about the deal.
Overview of the New Airline Code
In the context of constant evolution of regulations in the aviation field at European level, Romania enacted Law no. 21/2020 regarding the New Airline Code on March 19, 2020 (“New Airline Code”). The New Airline Code is by far one of the most important national regulatory instruments, being designed as an integrated civil-military air code, flexible enough to allow the application or implementation of the present and future European regulations.
The Impact of COVID-19 on M&A
The COVID-19 pandemic is expected to impact the process, timeline and documentation of M&A transactions in the turbulent times ahead of us. Below are some techniques for parties to protect themselves in the current crisis.
Should the Controller Reassess the Relationship with its Processor in the Context of this New Pandemic?
Pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (“General Data Protection Regulation”), controllers must only use processors that provide sufficient guarantees regarding their capability to implement appropriate technical and organizational measures to ensure that all processing activities are performed and protected in line with the legal requirements.
Romania: Moratorium on Loans
Almost one week after being publicly announced by Romanian officials, the Emergency Ordinance no. 37/2020 on granting certain facilities for loans granted by credit institutions and non-bank financial institutions to certain categories of debtors (OUG 37) was published in the Official Gazette in a different form than the one initially announced as a result of extensive negotiations with the banking system.
Romania: Procedure for Obtaining a State of Emergency Certificate
Companies whose business operations have been strongly affected by the state of emergency declared due to the SARS-CoV-2 pandemic will be able to receive a state of emergency certificate (CSU) to attest the connection between the state of emergency and their current situation using an emergency procedure which exempts the companies from the usual fees.
Gilescu, Valeanu & Partenerii Joins BNT Attorneys and Promotes Two to Partner
Gilescu, Valeanu & Partenerii has joined BNT Attorneys in Romania. As a result, the new name of the firm, in Romania, will be BNT Gilescu, Valeanu & Partnerii, and it will operate with a team of more than 20 lawyers in Bucharest and Timisoara.
Leaua, Damcali, Deaconu, Paunescu Successfully Represents Trammo GmbH in Court
Leaua, Damcali, Deaconu, Paunescu has successfully represented Trammo GmbH in a case involving the question of whether, in the firm's words, "“temporary seizure of assets can preclude an enforcement procedure conducted by another creditor.”
Further Challenges of Foreign Investors in the EU – the Achmea Decision
In the context of the significant inflation of laws and administrative regulations in Romania, many of them representing or deriving from European Union (“EU”) normative acts, one important risk to be considered by foreign investors should be that the legislation process that regulates the permitting process is constantly modified. Moreover, most administrative permits, such as, for example, environmental permits or operating licences, are valid only for a limited period. Thus, the necessity to renew the permits and licences after important investments have already been made by the investors may represent a real challenge.
COVID-19: Mergers & Acquisitions. Implications
It is a truism to say that the Mergers & Acquisitions will take a severe blow. Not only the private investments go hand in hand with the status of economy, predictability in laws making and good social and political climate, but investments are driven by other key-factors as well. Besides the purely legal side and behind the financial rationale, M&A projects are backed-up by various behaviours which generate enthusiasm, allowing one to have an appetite for spending or an appetite for taking risks.
New Changes to the Romanian Food Trade Law: What can Retailers and Suppliers Expect?
The new Law 28/2020, recently promulgated by the President of Romania and pending publication in the Official Gazette, squeezes in several amendments to the Food Trade Law 321/2009.
COVID-19: Employment Law. Implications
The COVID-19 pandemic has taken the Romanian employers by surprise, catching them widely unprepared for what needs to be done in relation with the employees – both in terms of health & safety precautions, but also in terms of safeguarding the employment relationships (let us not forget that Romania was fraught with a severe labor shortage when the COVID-19 situation occurred) whilst attempting to save their business.
Romania: Recent Statement from the Romanian Competition Council - Companies can Act to Prevent Shortages of Essential Products
During the current crisis caused by the coronavirus pandemic, companies are permitted to act in a coordinated manner to avoid shortages of essential products and to ensure balanced distribution of such products.
The Implications of the Measures Related to the State of Emergency in the Insolvency Procedure
In view of the evolution of the international epidemiological situation caused by the spread of Coronavirus, which determined the pandemic declared by the World Health Organization, on March 11, 2020, the Decree no. 195/2020 on imposing the state of emergency on the territory of Romania (the "Decree") has been adopted.
Standardization of Community Rules in Criminal Matters vs. Instrument for Limitation of Exercising the Right to Property
Nowadays, in the Romanian judicial practice the proceedings in which, apart from the criminal prosecution of natural persons for the perpetration of criminal offences, criminal liability of legal persons (various companies, smaller or larger, producers of goods, service providers or operators, etc.) is also pursued, have got to become more and more often.