The Legal 500 > Tuca Zbarcea & Asociatii > Bucharest, ROMANIA

Tuca Zbarcea & Asociatii

4-8 SOSEAUA NICOLAE TITULESCU, AMERICA HOUSE, WEST WING, 8TH FLOOR, SECTOR 1, 011141 BUCHAREST, ROMANIA

Tel:: Work +40 21 204 88 90
Fax:: Fax +40 21 204 88 99

Web:: www.tuca.ro
Email:

Cluj Napoca, Bucharest

Romania : Banking, finance and capital markets

Within Banking, finance and capital markets, Tuca Zbarcea & Asociatii is a second tier firm,

Tuca Zbarcea & Asociatii has ‘one of the best teams in town, and combines technical ability with a commercial approach’. It recently advised Saipol SAS on two financing facilities totalling €70m, which comprised €40m from a syndicate of banks, and €30m from the EBRD. It also acted for a syndicate comprising BRD Groupe Société Générale, ING Romania and La Caixa Romania on the provision of a €42m financing to Transelectrica. Capital markets transactions included advising Oltchim on a €250m debt-to-equity swap. Deputy managing partner Stefan Damian co-heads both practices, alongside the ‘excellent, professional and friendly’ Mihai Dudoiu on the banking side and Silvana Ivan on the capital markets side.

Romania : Corporate and M&A

Within Corporate and M&A, Tuca Zbarcea & Asociatii is a first tier firm,

‘A clear leader in corporate work’, Tuca Zbarcea & Asociatii combines ‘great efficiency and dedication, and has earned a well-deserved place in the top echelon of its profession’. The team recently advised Erste Bank on its €600m acquisition of minority stakes in BCR. Other clients include Carrefour and E-Jobs. Managing partners Gabriel Zbârcea and Florentin Tuca and deputy managing partner Stefan Damian are the key figures.

Romania : Dispute resolution

Within Dispute resolution, Tuca Zbarcea & Asociatii is a first tier firm,

Tuca Zbarcea & Asociatii’s ‘passionate and committed’ five-partner dispute resolution team adopts ‘a fresh and dynamic approach’, and its expertise spans domestic and international commercial litigation or arbitration. It represented Alstom Group in challenging the award of €360m-worth of public procurement contracts, and acted for ČEZ in commercial disputes valued at €30m. It also defended River Invest against an €18m arbitration claim concerning its decision to terminate a development contract. Robert Rosu and Ioana Hrisafi are ‘commercially minded and results-oriented’.

Romania : Energy and natural resources

Within Energy and natural resources, Tuca Zbarcea & Asociatii is a first tier firm,

Tuca Zbarcea & Asociatii’s team is praised for ‘going beyond the pure legal issues’. The team is an adviser to CEZ, which it is currently representing on the second phase of a 600MW wind farm project. It also represents Energy Holding on various corporate and regulatory matters, and is acting for Gabriel Resources on a €4bn gold mining project. Irina Moinescu is ‘very responsive and rigorous’, and, on the contentious side, Ioana Gelepu and Sorin Vladescu are recommended.

Romania : IT, telecoms and media

Within IT, telecoms and media, Tuca Zbarcea & Asociatii is a first tier firm,

Tuca Zbarcea & Asociatii provides ‘an excellent service’ to clients including Cosmote Romania, for which it recently acted in a public consultation regarding the regulatory framework applicable to mobile virtual operators. It also represented Vodafone in its bid for usage rights relating to various radio frequencies. Other clients include Ericsson Telecommunications, PokerStars and Cinema City. Vlad Cercel and Şerban Pâslaru are the key lawyers.

Romania : Public private partnership and procurement

Within Public private partnership and procurement, Tuca Zbarcea & Asociatii is a first tier firm,

Tuca Zbarcea & Asociatii’s team consists of ‘smart lawyers, who are extremely attentive to the details and have a reassuring, can-do attitude’. In 2012, the group acted for the Romanian Ministry of Transport and Infrastructure and the National Company of Motorways and National Roads on the €2bn concession contract for the Bucharest ring road. It also continues to advise CEZ on its various public procurement procedures and disputes relating to tenders. Şerban Pâslaru is the key partner.

Romania : Real estate and construction

Within Real estate and construction, Tuca Zbarcea & Asociatii is a second tier firm,

Tuca Zbarcea & Asociatii advised Carrefour on various joint venture developments with NEPI, including the €65m Ploiesti Shopping City and a €60m retail project in Brasov. It is also advising Grupo Azvi as part of a consortium on the construction of the Calafat-Vidin Bridge. The team is jointly headed by Dan Borberly and Razvan Mircea, who is ‘a very talented lawyer’.

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Offices in Bucharest and Cluj Napoca

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Tuca Zbarcea & Asociatii

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. .

- Tuca Zbarcea & Asociatii

Legal Developments in Romania

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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 .

- Schönherr
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).

- Schönherr
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. .

- Tuca Zbarcea & Asociatii
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.

- Schönherr
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.

- Peli Filip
Romania: Proposed new OTC trading arrange-ments for electricity

Friday (11 January 2013), the Romanian energy market regulator (ANRE) published on its website for public consultation a proposal for a procedure and regulation on OTC electricity trading (the "Proposal"). ANRE has invited stakeholders to submit their comments by 21 January 2013.

- Schönherr
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.

- Musat & Asociatii
The new 2012 Arbitration Rules of the Court of International Commercial Arbitration Court

Authors: Luminita Popa, Partner Musat & Asociatii, Iulian Popescu, Partner Musat & Asociatii

- Musat & Asociatii
Termination of Distribution Agreements in Romania

The absence of a contract regulating the duration and termination of a distribution relationship does not necessarily entitle a party to abruptly terminate the agreement without facing financial exposure to the other party. In particular, a reasonable notice period should be given to allow the other party to adapt its business operations.

- Schönherr
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).

- Musat & Asociatii