This article addresses the regulatory and legal issues which arise in the provision of financial services by a financial institution located in one country (the “home country”) to a Romanian customer, without the establishment of a local presence, such as a branch or subsidiary in Romania.
A Bird’s-Eye View on the State of Arbitration in Romania
The Romanian Civil Procedure Code (CPC) explicitly regulates institutional arbitration within a discrete chapter named “Institutional Arbitration” (Title VII of Book IV) and includes six articles to that effect (Articles 616 – 621 CPC).
CEE Real Estate Keeps It Real
Following a tumultuous year marked by the ongoing conflict in the region and rising financing expenses, we reached out to experts across CEE to gain a deeper understanding of the real estate landscape, including key factors driving the industry and the primary obstacles it faces.
Stratulat Albulescu and Tuca Zbarcea & Asociatii Advise on Walden Acquisition of Alex Transport
Stratulat Albulescu has advised the Walden Group on its acquisition of Alex International Transport 94 from Alexandru Constantinescu. Tuca Zbarcea & Asociatii advised the seller.
Act Botezatu Estrade Partners and Tuca Zbarcea & Asociatii Advise on Louis Delhaize Sale of Cora Romanian Operations to Carrefour Group
Act Botezatu Estrade Partners has advised Louis Delhaize on the sale of its Romanian Cora operations – including ten Cora hypermarkets and eight Cora Urban stores – to the Carrefour Group. Tuca Zbarcea & Asociatii advised Carrefour.
Introducing the DOTY Final Selection Committee
We are honored and excited to introduce (and extend a big thank you to!) our regional Final Selection Committee of Jurors for the 2022 CEE Deals of the Year awards.
Leroy si Asociatii Advises Tereos on Sale of Sugar Factory in Romania
Leroy si Asociatii has advised Tereos on the sale of its sugar factory in Ludus, Romania, to private investors Mihaela Neagu and Mihail-Daniel Matache. Tuca Zbarcea & Asociatii reportedly advised the buyers.
Tuca Zbarcea & Asociatii and Filip & Company Advise on Sale of Minority Stake in Untold to Mozaik Investments
Tuca Zbarcea & Asociatii has advised Untold Universe on the sale of a minority stake to Mozaik Investments. Filip & Company advised Mozaik.
More Power to Romania's Unions: A Buzz Interview with Serban Paslaru of Tuca Zbarcea & Asociatii
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.
Spend It All Before It’s Gone: Investment Safe Harbors in CEE
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.
(Re)constructing Restructuring and Insolvency in CEE
There is a growing concern, across CEE, about a potential wave of insolvency and restructuring proceedings. Given the economic aftermath of COVID-19, coupled with the ramifications of rising inflation and interest rates, energy crisis concerns, and the war in Ukraine – the road ahead seems bumpy at best.
Tuca Zbarcea & Asociatii and Mitel & Partners Advise on MedLife Credit Facility
Tuca Zbarcea & Asociatii has advised a banking syndicate on a new credit facility for MedLife, as part of the company's EUR 228 million syndicated loan. Mitel & Partners advised MedLife on the loan.
Novelties Regarding the Commercial Law
Law No. 265/2022 on the trade register and for amending and supplementing other normative acts with impact on the registration in the trade register (“Law No. 265/2022”) was published in the Official Journal of Romania No. 750, Part I, of 26 July 2022. Law No. 265/2022 entered into force on 26 November 2022.
Tuca Zbarcea & Asociatii and D&B David si Baias Advise on Elit's Acquisition of Goodies Meat Production
Tuca Zbarcea & Asociatii has advised Smithfield Group subsidiary Elit on its acquisition of Goodies Meat Production. PwC Legal Romanian affiliate D&B David si Baias advised the sellers.
Wolf Theiss Advises Fortech Founders on Sale to Global Logic
Wolf Theiss has advised the founders of Fortech on its sale to Global Logic. Tuca Zbarcea & Asociatii reportedly advised Global Logic.
Reff & Associates and Tuca Zbarcea & Asociatii Advise on NEPI Rockcastle’s Acquisition of Stake in Ploiesti Shopping City from Carrefour
Deloitte Legal affiliated firm Reff & Associates has advised NEPI Rockcastle on its acquisition of Carrefour's stake in Ploiesti Shopping City. Tuca Zbarcea & Asociatii advised Carrefour.
Did You Know: 2022 Romanian Deal Leaderboard
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, Filip & Co. and RTPR have both worked on 16 reported deals so far this year in Romania, putting them in a two-way tie atop the leaderboard in that country?
Reff & Associates and Tuca Zbarcea & Asociatii Advise on Bank of Cyprus NPL Portfolio Sale to APS
Deloitte Legal affiliated firm Reff & Associates has advised Bank of Cyprus on the sale of a portfolio of non-performing loans and repossessed properties in Romania with a face value of EUR 147 million to an entity part of the APS group. Tuca Zbarcea & Asociatii advised the buyer.