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Legal market overview
Romania’s economy remains stymied by a lack of economic competitiveness, underdeveloped transport and ICT infrastructure, and an uncertain legal and regulatory environment. However the country (and its legal sector) has experienced a boom in the renewable energy sector, although legislative changes concerning the awarding of green certificates in the summer of 2013 placed a number of high-value projects on hold.
The lion’s share of mandates is still handled by a core of domestic and international heavyweights. Musat & Asociatii, Nestor Nestor Diculescu Kingston Petersen and Tuca Zbarcea & Asociatii are large and well established, and distinguished firms such as Peli Filip, Popovici Nitu & Asociatii and Voicu & Filipescu SCA are increasingly challenging the dominance of these firms. International firms such as CMS, Clifford Chance Badea, Kinstellar, RTPR Allen & Overy (Radu Taracila Padurari Retevoescu SCA in association with Allen & Overy LLP) and Schoenherr si Asociatii SCA have significant practices in Romania.
White & Case, Pachiu SCA has become Bondoc and Asociatii SCA in alliance with White & Case after the international law firm withdrew from the market in January 2014. Gide Loyrette Nouel also left the market and its former Bucharest office now trades as Leroy şi Asociaţii.