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Editorial

Legal market overview

The Romanian economy is continuing in its gradual but consistent recovery from the 2008 crash, with the commercial real estate and healthcare sectors showing marked improvements and the technology sector reaping the benefits of a well-educated workforce coupled with relatively low labour costs. The court system is rapidly becoming more professional, leading to more commercial disputes being litigated rather than arbitrated. A crackdown on corruption is generating more white-collar crime work, with the Direcţia Naţională Anticorupţie showing no fear in bringing prosecutions against high-profile individuals: former Prime Minister Victor Ponta and since-ousted Mayor of Bucharest Sorin Oprescu are under investigation at the time of writing. Ponta resigned in November 2015, after protests triggered by a fire in a Bucharest nightclub, which killed 56 people. Dacian Cioloș, a former European Commissioner, was appointed to lead a non-partisan interim government.

All these factors are contributing to a growing workload for Bucharest’s cadre of young and hungry lawyers. A range of international firms are present in Romania, either in their own right or in association with local lawyers; key players include CMS and RTPR Allen & Overy (Radu Tărăcilă Pădurari Retevoescu SCA in association with Allen & Overy LLP). A number of equally sophisticated indigenous firms offer a high-calibre alternative; these include Popovici Niţu Stoica & Asociaţii, which added existing partner Bogdan Stoica to its name in October 2015. A number of well- respected lawyers, including M&A and energy expert Miruna Suciu and dispute resolution specialist Luminița Popa, left Muşat & Asociaţii to establish Suciu, Popa, si Asociatii in February 2016. TSAA-Attorneys at Law split up, creating TAMC and Stratulat Albulescu Attorneys at Law.

The legal market is heavily concentrated on Bucharest, with most firms located only there.

Firms in the spotlight

Popovic Nitu & Associatii
www.pnpartners.ro

Popovici Niţu & Asociaţii is a leading Romanian independent law firm. Established in 1995 as one of the first incorporated partnerships, the firm brings together strong local resources, with exceptional credentials, outstanding records and distinguished careers in law, business and academia. The firm aspires to offer legal excellence by combining awareness with knowledge and understanding.

Leroy & Associatii
www.leroy.ro

Leroy si Asociatii is one of Romania’s leading and fastest growing independent law firms. With nearly 20 years of experience in the Romanian market, the firm has gained national and international recognition for its contribution on some of the most significant investments and transactions in Romania.

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Press releases

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Legal Developments in Romania

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • The Dispute Resolution Review Sixth Edition - Romania

    Disputes in Romania are settled in court in the vast majority of cases, under procedures regulated mainly by the new Civil Procedure Code (CPC). The CPC entered into force on 15 February 2013, has carried out a systemic and extensive overhaul of the Romanian dispute resolution model. With a specific focus on acceleration of trial proceedings, the new regulation has reformed both the schedule and the content of proceedings taking place in various phases of the lawsuit, while attempting to clarify many of the controversies raised by interpretable provisions in the former regulation.
  • For sale: Romania - "Europe's granary"

    Initiated late November 2013 and adopted by the Romanian Parliament on 17.12.2013 (to be published upon the President's confirmation), the law regarding purchase of agricultural lands by non Romanian EU Citizens is setting the ground rules expected for the past 7 years, since Romania's accession to EU.
  • Ţuca Zbârcea & Asociaţii: Getting the Deal Through – Dominance 2014

     
  • The Mining Law Review Second Edition - Romania

    Before 1989, when the Communism regime fell, mineral resources in Romania were exploited by state-owned companies. Although these exploitations were advertised as big economic successes of the communist governments, in reality, most of them were using outdated technology and some caused significant pollution in the mining perimeters. Moreover, in the context of Romania's negotiations to join the European Union, some of the mining exploitations had to be shut down as they were far from being compliant with the European environmental standards.
  • Romania: VAT registration no longer required for electricity traders on OPCOM markets

    September 2013 - Projects,  Energy and Natural Resources. Legal Developments by Buzescu Ca. More articles by this firm.
  • How can the Romanian Constitution be revised

    Although its stability over time represents the essence of the Romanian Constitution (the “Constitution”) and of any constitution, such fundamental law within the Romanian legal system should at the same time, at any moment, represent both a frame of reference for the Romanian social, political and economical life and a reflection of such. Given the accelerated changes within the society, in order for the Constitution to be brought in line with the overall social, political and economical evolution and perspectives, a procedure for its revision and also the limitations in what regards the possibility for the Constitution to be revised are established by this fundamental law itself. .
  • COMMITMENTS PROCEDURE IN ANTITRUST CASES BEFORE THE ROMANIAN COMPETITION COUNCIL

    1. Background The Romanian Competition Law no. 21/1996 (the " Law ") has been adopted and amended on various occasions so that it reflects the evolution of the competition law provisions in the EU. On 6 July 2010 the Law has been substantially amended, introducing among other institutions the commitments procedure for anticompetitive practices. Previously, the commitments were available only in merger cases under the form of remedies. The commitments procedure has been detailed in RCC guidelines issued in December 2010 (the " Guidelines "), which have been amended at the end of year 2012.
  • VAT challenges in 2012; there’s plenty to come

    If the Romanian taxation system were under any sign, it would surely not have been Libra this year. Hence, the unbalanced practice of abrupt or disputed changes to the tax legislation persisted in disregarding the principles set forth in art. 4 of the Romanian Fiscal Code, whereby (i) the code is to be amended solely based on a law, (ii) the amending law must be advocated for, as a rule, six months prior to its entry into force, and (iii) any amendment to the code will enter into force starting the 1st of January following the year it was adopted.
  • The new 2012 Arbitration Rules of the Court of International Commercial Arbitration Court

    Authors: Luminita Popa, Partner Musat & Asociatii, Iulian Popescu, Partner Musat & Asociatii
  • Guarantees under the New Civil Code

    After the New Civil Code entered into force on October 1, 2011, significant amendments were brought to the legal framework regulating the guarantees’ field, either by effective legislative changes to the existing institutions or by introduction of new types of guarantees. The New Civil Code also changed the terminology in the field (e.g. “mortgage” designates both securities over real estate and movable assets, while “pledge” is now referring only to a security interest with dispossession).

Press Releases in Romania

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to