The Legal 500

Moldova

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Editorial

  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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