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Editorial

Legal market overview

The Romanian economy is slowly but steadily recovering, notably with the agricultural and automotive sectors picking up, and the real estate market was also more active in 2014. There is positivity in the market, with banks being increasingly willing to finance projects and foreign investors returning to the market; the largest share of foreign direct investment has been coming from Austria, the Netherlands, France and Germany. Due to the government’s reduction of renewable energy subsidies, new project investment has stalled and the dynamism of the energy sector has been sharply reduced, providing a challenge for law firms with strong renewables practices. A controversial regulatory change regarding television advertising by broadcasters has kept TMT lawyers busy.

Much of the market’s work is handled by Musat & Asociatii, Nestor Nestor Diculescu Kingston Petersen and Tuca Zbarcea & Asociatii, the largest firms on the market, with Peli Filip and Popovici Nitu & Asociatii also prominent. These local firms have substantial experience in international deals and compete with international law firms such as CMS, Clifford Chance Badea, Dentons, and RTPR Allen & Overy (Radu Taracila Padurari Retevoescu SCA in association with Allen & Overy LLP). Notable boutiques include Dragne & Asociatii SCA, which excels at dispute resolution, and Vass Lawyers, which focuses on public procurement matters. A number of new law firms have been founded. Vilau & Mitel was renamed Mitel & Partners after Dragoş Vilău’s departure.

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.

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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.
  • Romania: Wind of change on the Romanian renewable energy market - part II

    In the Legal Insights edition of 18 March 2013, we presented the potential changes to the Romanian renewable energy scheme, resulting from an unofficial working draft Government Emergency Ordinance (GEO) circulated on the market. This Tuesday (2 April 2013), a draft Government Emergency Ordinance on the amendment of Law no. 220/2008 was officially published on the website of the Ministry of Economy. The public is invited to submit comment within the next 30 days, to the e-mail address dezbateri_publice@minind.ro .
  • Romania: Wind of change on the Romanian renewable energy market

    Romania seems to be one of the most attractive CEE jurisdictions for renewable energy investments, due to the generous support scheme which generated increasing enthusiasm over the past few years. Implemented in 2005, the support scheme for renewable energy (RES) consisting of tradable green certificates (GCs) combined with mandatory acquisition quotas was improved in 2008 and subsequently in 2010, but was only applicable as of mid-2011, upon state aid clearance from the European Commission (EC).
  • 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. .
  • Romania: New financial and fiscal legislative amendments

    Government emergency ordinance no. 8/2013 for the amendment and supplementation of Law no. 571/2003 regarding the Fiscal Code and the regulation of certain financial and fiscal measures (published in the Official Gazette no. 54/23.01.2013) enters into force starting from 1 February 2013. GEO 8 introduces a number of important amendments and supplementa-tions in the fiscal legislation. We shall further present some of the amendments related to di-rect taxation, respectively to social insurance.
  • 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.

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