The Legal 500

Moldova

  1. Legal market overview
  2. Leading individuals

Leading individuals

  1. 1
    • Octavian Cazac - Turcan Cazac
    • Vitalie Ciofu - Gladei & Partners
    • Roger Gladei - Gladei & Partners
    • Vladimir Iurkovski - Schoenherr Moldova
    • Alexandru Munteanu - PricewaterhouseCoopers Legal
    • Diana Neagu - Vernon | David
    • Igor Odobescu - ACI Partners Law Office
    • Igor Popa - Popa & Associates
    • Alexander Turcan - Turcan Cazac

Moldova, which has borders with Romania, Russia and Ukraine, is seeking EU membership. As Europe’s poorest nation, the recently revealed theft of $1bn – around 15% of the country’s GDP – from three banks hurt its economy and exchange rates for the Moldovan lei declined sharply; foreign investment has diminished. The weak economy has also translated into a quiet period for the legal market.

Gladei & Partnersnot only knows well Moldovan legislation, but also the requirements of international financial institutions’. The firm advises all international financial institutions that are active in Moldova and international banks such as Société Générale. Its clients report that service is ‘very professional, reliable and good value’. The ‘very experienced’ Roger Gladei advised the European Bank for Reconstruction and Development (EBRD) on a €6.2m loan to Italian cable manufacturer La Triveneta Cavi. Litigation specialist Vitalie Ciofu, ‘highly respected’ senior associate Viorica Bejan and ‘rising star’ Aelita Orhei are also recommended.

Turcan Cazac is ‘an excellent firm – one of the best in Moldova’; it has a stellar reputation among international financial institutions and multinational corporations. Octavian Cazac and Alexander Turcan are two of the country’s most respected lawyers, who advised a US fund on capital markets legislation regarding its acquisition of 25% of FinComBank. Cazac advised EBRD on a $25m loan to Trans Oil Group. Other clients include Erste Bank, Hyundai and MasterCard. Highly recommended associate Iulia Furtuna leads on litigation and employment matters.

ACI Partners Law Office has ‘a flexible team that is known for its skills in M&A and, increasingly, dispute resolution’. Igor Odobescu’s team includes many lawyers who trained and practised at Ernst & Young, notably including M&A specialists Cristina Martin and Carolina Parcalab, and litigation partner Daniel Martin. Recent highlights variously include representing the Republic of Moldova in an arbitration brought by Energoalians LLP; advising Frontera Resources on its oil and gas projects; and assisting Spotify with data protection matters.

Clients praise the ‘strong communication, high level of expertise and high quality of advice’ at PricewaterhouseCoopers Legal. The ‘competent, prompt, professional’ Alexandru Munteanu heads a team that ‘knows local legislation very well and is always helpful’. Munteanu advised the Ministry of Economy on the corporate restructuring of two power plants and the sale of heating company Termocom. He also handled due diligence connected with the sale of a local bank.

Romanian firm Vernon | David is ‘excellent, always giving practical advice and exceeding expectations in international matters’. ‘Moldova’s pre-eminent finance lawyer’ Diana Neagu heads a team of ‘hardworking, thoughtful and commercial lawyers who find innovative solutions’. Neagu, who is ‘smart and capable’, notably handled the largest pharmaceuticals industry acquisition in Moldova’s history for Ferring Pharmaceuticals; other work includes routinely advising British American Tobacco on corporate matters. George Teodorescu returned to New York.

Popa & Associates is a highly regarded full-service firm that is particularly well known for its experience in public-private partnership (PPP), M&A, banking, competition and litigation matters, among others. Managing partner Igor Popa and the litigation team, which is headed by associates Cristina Bancu and Ilona Nicula, represented Teba Industries in a civil case concerning a €350,000 contract of sale. Popa also advised BB-Dializa on a healthcare PPP and acted for Air Moldova in an objection to a judgment delivered by a German court.

Schoenherr Moldova combines ‘professional service, quick responses, highly rated knowledge and good value for money’. The ‘reliable and professional’ Vladimir Iurkovski advised on the opening of a €40m factory, and acted for the Swiss Agency for Development and Co-operation in negotiations for a new €10m water supply system in Nisporeni County. Other clients include Takeda Group and Rovio Entertainment.

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Legal Developments worldwide

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  • 27 April 2016: Greatbatch/INTEGER

    Following completion of the acquisition of the Lake Region Medical groupe by Greatbatch, Inc. and the renaming of Lake Region Medical into INTEGER, Greatbatch contributed in multiple capital increases own shares to Swiss-based P Medical Holding AG/INTEGER (Switzerland) GmbH, which were swapped against shares in the Irish-based Lake Region Medical Holdings Limited. The transaction was completed by a down-stream merger of P Medical Holding AG into its subsidiary INTEGER (Switzerland) GmbH.
  • Liability Management Exercise of International Container Terminal Services, Inc. and affiliates

    SyCipLaw acted as Philippine counsel for the dealers, Citigroup Global Markets Limited and Hong Kong and Shanghai Banking Corporation in a back-to-back tender offer of perpetual securities and issuance of new perpetual securities.
  • New China Customs Taxation Policy on Cross-Border B2C E-Commerce Imports

    The Ministry of Finance, General Administration of Customs and State Administration of Taxation of China jointly issued a circular (“Joint Circular ”) relating to the taxation policy on the cross-border e-commerce retailing imports, with effect as from April 8, 2016.
  • Philippine Competition Commission Issues Transitory Rules for Mergers and Acquisition

    On February 12, 2016, the recently constituted Philippine Competition Commission (“PCC”), which was created under the Philippine Competition Act (Republic Act 10667 or the “PCA”), issued Memorandum Circular No. 16-001, Series of 2016 (the “Transitory Rules”), which provides for the transitory rules and guidelines relating to mergers and acquisitions that were, or are to be, executed or otherwise implemented after the effectivity of the PCA on August 8, 2015 but before the effectivity of its implementing rules and regulations (the “PCA IRR”). Given the special nature of transactions effected through the Philippine Stock Exchange, the Transitory Rules will not cover such transactions and will be covered by a separate issuance by the PCC.
  • Financing for the Mactan Cebu International Airport

    SyCipLaw acted as Philippine counsel to a syndicate of Philippine banks (composed of BDO Unibank, Inc., Bank of the Philippine Islands, Development Bank of the Philippines, Land Bank of the Philippines, Metropolitan Bank & Trust Company and Philippine National Bank) and Asian Development Bank for the financing of the rehabilitation and development of the Mactan Cebu International Airport that was awarded by the DOTC and the MCIAA under the private-public partnership program of the government to the consortium between Megawide Construction Corporation and GMR Infrastructure. The financing is composed of (1) Php20 Billion (approx. US$446,773,200) commitment of the Philippines syndicate banks and (2) US$75 Million commitment of ADB.
  • Philippine Competition Commission Issues Transitory Rules on PSE-related Mergers and Acquisitions

    On February 16, 2016, the recently constituted Philippine Competition Commission (“PCC”), which was created under the Philippine Competition Act (Republic Act 10667 or the “PCA”), issued Memorandum Circular No. 16-002, Series of 2016 (the “PSE Transitory Rules”), which provides for the transitory rules and guidelines relating to mergers and acquisitions that were, or are to be, executed or otherwise implemented through the Philippine Stock Exchange (“PSE”) and after the effectivity of the PCA on August 8, 2015 but before the effectivity of its implementing rules and regulations (the “PCA IRR”).
  • 2016: Insurance regulation in Asia Pacific – Ten things to know about 20 countries

    SyCipLaw contributed the Philippine Chapter of the 2016: Insurance Regulation in Asia Pacific – Ten things to know about 20 countries published by Norton Rose. The 2016 edition of the summary guide provides an overview and practical checklist of ten common regulatory issues for insurance companies. The Philippine chapter was contributed by SyCipLaw partner Hiyasmin H. Lapitan.
  • Predictive Coding Software in the E-Disclosure Process Approved by English Court

    In the recent case of Pyrrho Investments Limited and another v MWB Property Limited and others [2016] EWHC 256 (Ch), the High Court of England and Wales approved the use of predictive coding software in electronic discovery.
  • Enabling the Business of Agriculture 2016

    SyCipLaw Partners Rose Marie M. King-Dominguez and Franco Aristotle G. Larcina, with support from Senior Associate Ruben P. Acebedo II, participated in the World Bank Group’s Enabling the Business of Agriculture 2016: Comparing regulatory good practices. The report examines regulations that impact private enterprise in the agriculture and agribusiness sectors. The report aims to promote smart regulations that ensure safety and quality control, as well as efficient regulatory processes, that support thriving agribusinesses.
  • April 2016: Mövenpick invests in imported wine wholesaler Cheers in China

    Hospitality and food service industry company Mövenpick invests in Chinese wine wholesaler Cheers by acquiring a strategic stake. Cheers has 30 branch offices in the greater Beijing area and currently generates annual revenues of roughly three million Swiss francs. Mövenpick is a Swiss group of companies with global presence. Its core competency lies in the hospitality business, with a focus on gastronomy, hotels, wine and premium branded products.

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