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Moldova

Moldova > Law firm and leading lawyer rankings

Editorial

Index of tables

  1. Legal market overview
  2. Leading individuals
  3. Next generation lawyers

Leading individuals

  1. 1
    • Andrei Caciurenco - ACI Partners Law Office
    • Octavian Cazac - Turcan Cazac
    • Vitalie Ciofu - Gladei & Partners
    • Roger Gladei - Gladei & Partners
    • Vladimir Iurkovski - Schoenherr Moldova
    • Diana Neagu - Vernon | David
    • Igor Odobescu - ACI Partners Law Office
    • Alexander Turcan - Turcan Cazac

Next generation lawyers

  1. 1
    • Viorica Bejan - Gladei & Partners (Corporate and commercial, dispute resolution)
    • Sergiu Bivol - Vernon | David (Corporate and commercial, dispute resolution)
    • Anna Cuşnir - Schoenherr Moldova (Corporate and commercial, dispute resolution)
    • Iulia Furtuna - Turcan Cazac (Dispute resolution, employment)
    • Andrian Guzun - Schoenherr Moldova (Corporate and commercial, employment)
    • Aelita Orhei - Gladei & Partners (Corporate and commercial, dispute resolution)
    • Ilona Panurco - Efrim Rosca & Asociatii (Corporate and commercial)
    • Mariana Stratan - Turcan Cazac (Corporate and commercial)

Moldova has shown sustained growth for many years – its GDP is predicted to grow more than 2% in 2016 – with poverty levels declining; agricultural exports form a core part of the economy. Moldova, like its eastern neighbour Ukraine, is hoping to follow western neighbour Romania to European Union membership. Foreign direct investment remains relatively quiet as investors await greater political stability. The legal market is dominated by full-service local firms and a few international competitors.

ACI Partners Law Office’s clients are ‘very pleased with the firm’s standards’. The firm attracts strong work from international financial institutions and foreign investors, such as Igor Odobescu and Carolina Parcalab advising the International Finance Corporation (IFC) on restructuring a $10m loan to local industrial companies. Odobescu and Andrei Caciurenco acted as local counsel alongside international law firm Steptoe & Johnson LLP for Kroll International in National Bank of Moldova’s investigation into alleged financial irregularities in local bank transactions. Corporate partner Cristina Martin and litigation partner Daniel Martin are also recommended.

The ‘professional and committed team’ at Gladei & Partners has ‘an unrivalled combination of experience and flexibility and a Western approach to legal services’. In particular, Roger Gladei, who ‘always finds a solution when others would bet there is none’; Vitalie Ciofu, who leads a strong litigation team; and ‘versatile and talented’ senior associates Viorica Bejan and Aelita Orhei, who has ‘deep knowledge of business law’. Gladei and Bejan advised ProCredit Bank Moldova on €10m loan from the Council of Europe Development Bank. The firm acted for European retailer Kaufland on its multimillion-euro expansion into Moldova.

Turcan Cazac is a venerable firm that is ‘highly visible in the market with a strong presence’. Octavian Cazac, who is on the board of the local American Chamber of Commerce, and European Business Association board member Alexander Turcan are leading figures: Cazac advised Belgian brewer Anheuser-Busch InBev on local aspects of its merger with SABMiller, and with Turcan he acted for the European Bank for Reconstruction and Development (EBRD) on its acquisition of an additional stake in Moldova’s third-largest lender Victoriabank. Associate Iulia Furtuna leads the respected employment and litigation practices.

Newly formed firm Efrim Rosca & Asociatii has ‘very experienced lawyers with longstanding reputations’, including former Minister of Justice Oleg Efrim. It has quickly become ‘one of the country’s leading firms’, with clients saying ‘the service is fantastic and detailed answers are always sent in a very short time’. Vladislav Rosca and senior lawyer Ilona Panurco are ‘very professional and competent specialists who possess the right knowledge and experience to provide high-level service’. Efrim, Rosca and Panurco recently helped a leading local company to oppose Competition Council cartel claims.

Clients ‘trust the knowledge and competency’ of Romanian firm Vernon | David, which ‘always works to give clients the best advice’. The firm is a founding member of the European Business Association. Diana Neagu, who is acting as local counsel for Orange SA on the proposed acquisition of a Moldovan cable company, and senior lawyer Sergiu Bivol, who is advising German company Kaufland on regulatory and corporate matters, stand out in ‘a good, strong team’. Other recent highlights include Neagu acting for Ferring Pharmaceuticals on the acquisition of a local company.

PricewaterhouseCoopers Legal is known for ‘its integrated approach to legal and taxation issues’. Alexandru Munteanu moved to Romania but still oversees the activities of the Chisinau office. Munteanu and Dumitru Popescu are advising Romanian DIY retailer Dedeman on the purchase of real estate assets. The firm is also helping Hewlett-Packard Central European Holding to liquidate a Moldovan subsidiary.

Schoenherr Moldova provides ‘timely delivery to a Western standard from business-oriented lawyers’. Vladimir Iurkovski and associates Anna Cuşnir and Andrian Guzun are advising on large telecoms M&A deals. The firm is also acting for overseas investors in the refinancing of agribusinesses in Romania and Moldova.

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Legal Developments worldwide

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    On 10 August 2017 the Luxembourg Stock Exchange announced that all domestic and foreign issuers operating on the regulated market (Bourse de Luxembourg) or on the multilateral trading facility (Euro MTF) of the Luxembourg Stock Exchange must provide their legal entity identifier (“LEI ”) codes to the Luxembourg Stock Exchange before 15 September 2017.
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    Amongst the numerous topics covered by the Markets in Financial Instruments Directive II (MiFID II), the European Securities and Markets Authority (ESMA) has decided to provide further guidance on the requirements regarding product governance through its guidelines dated 2 June 2017 which focus on the target market assessment by manufacturers and distributors of financial products.     
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    On 7 June 2017, the official ceremony for the signing of the multilateral instrument (“MLI”) took place bringing to a close a process initiated last year when a consensus was reached on the wording of the MLI on 24 November 2016 (see also our newsflash dated 2 December 2016, available on our website www.arendt.com section Publications/Newsflash).
  • Arendt & Medernach: Luxembourg Law Firm of the Year

    Luxembourg, May 2017 – Arendt & Medernach is proud to have been named “Luxembourg Law firm of the year” both by Chambers & Partners and IFLR (International Financial Law Review). The prestigious trophies were both received in April in London at the respective ceremonies of the Chambers Europe Awards 2017 and the IFLR European Awards 2017.
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    In the UAE, the risk management activities inherent in running a corporate or investment banking business remain of crucial importance, not least because of the strong local characteristic of “name lending”, by which is meant lending or providing other banking facilities to family or other private businesses, primarily on the strength of the “name” or “names” of the proprietors standing behind the business, rather than on the strength of the asset quality and underlying credit of the particular business. Of course, in practice, there is commercial overlap between the proprietors and the companies which they own, but the credit analyses can break down where poor banking practices and procedures result in poorly constructed legal documentation and gaps in guarantee and security support documents.

Press Releases worldwide

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