The Legal 500

Starting October 1st a New Civil Code came into force in Romania. 

The New Civil Code has a significant impact on the business relationships in Romania, from areas regarding to borrower-lender relationships, to property transactions, contract negotiation or certain corporate restructuring actions.

Nutricia International B.V. (‘Nutricia’), part of the Danone Group, represented by Andra Musatescu Law & Industrial Property Offices, has just obtained a positive decision in an annulment action brought against a local producer of milk and milk products, S.C. Avi Seb Impex SRL (‘Avi’).

Cornel Popa, Partner Tuca Zbârcea & Asociatii

Cristian Radu, Managing Associate Tuca Zbârcea & Asociatii

Business activities in Romania may be carried out as a rule by companies (which may be owned without any restrictions by Romanian or foreign shareholders) or by other forms of business organizations such as authorized individuals, individual undertakings or family undertakings within the framework set out in the Companies Law No. 31/1990 (the Companies Law) and the Government Emergency Ordinance No. 44/2008 on the performance of business activities by authorized individuals, individual undertakings and family undertakings (GEO 44/2008). 

Ionut Serban, Partner Tuca Zbârcea & Asociatii

Economic instability in the last year has continued to exert significant pressure on the budgets of companies in debt, with amiable payment of outstanding receivables still usually challenged and subject to delay. This, in turn, has increased the number and complexity of disputes issued in courts and in arbitration, calling forth new developments in the dispute resolution system.

Serban Pâslaru, Partner Tuca Zbârcea & Asociatii

Vlad Cercel, Managing Associate Tuca Zbârcea & Asociatii

Public procurement, concessions and public-private partnerships in Romania are regulated by a set of enactments which set forth the legal framework within which co-operation between the public sector and the private sector may be established with a view to developing public projects with the involvement of the private sector.

Romania
Francisc Eduard Peli and Alina Stancu-Birsan - PeliFilip

1 Collateral What types of collateral are available? The collateral package for a Romanian project is relatively similar to global project finance practice and includes security on the assets and rights of the project company as well as its shares.

Romania

Carmen Peli and Carmen Korsinszki - PeliFilip

1 How is health care in your jurisdiction organised? The current Romanian health-care system was set by Law No. 95/2006 regarding the reform of the health-care system (Health Care Law), which creates the legal framework for the organisation and financing of the health-care system. 

A practical cross-border insight into business crime

Published by Global Legal Group, in association with CDR, with contributions from: Schoenherr

Ioana Gelepu, Partner Tuca Zbârcea & Asociatii

Hardship is one of the entirely new concepts to feature in the New Civil Code of Romania (NCC).

Robert Roşu, Partner Tuca Zbârcea & Asociatii

The basis of the modern judicial system in Romania is laid out in the Civil Code, Criminal Code, Civil Procedure Code and Criminal Procedure Code, originally drawn up under the Romanian ruler Alexandru Ioan Cuza in 1864 in order to reflect the realities of a rapidly evolving society in Romania at that time.