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

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

Razvan Gheorghiu-Testa

Tel:: Work 0040 21 204 88 96
Email:

Work Department

Real Estate; Corporate and Commercial; Tax; Mergers and Acquisitions.

Position

Razvan Gheorghiu-Testa is a Partner at Tuca Zbarcea & Asociatii, having built up a strong legal career in real estate, corporate/M&A, as well as taxation. Further to his expertise in real estate matters, he combines tax and corporate law skills offering multidisciplinary strategies and solution in relation to a broad spectrum of property matters. He has been directly involved in many of the most important projects taking place in Romania, including acquisitions and disposal of real estate, investment and development real estate projects, and real estate finance. Razvan Gheorghiu-Testa regularly offers planning advice on investments to major institutional investors, as well as international companies from a variety of industries, such as retail, consumer goods, steel, energy, telecommunications, oil and gas, pharma. In addition to his role as one of the coordinators of the firm’s real estate practice group, he co-heads the firm’s specialised tax division, Tuca Zbarcea & Asociatii Tax SRL.

Career

Razvan is one of the founding partners of Tuca Zbarcea & Asociatii and a former named partner of Testa, David & Asociaţii, part of Ernst & Young Law Alliance, where he headed the corporate/M&A practice. His clients include the likes of Carrefour Romania, Carrefour Property, Voestalpine, OMV Petrom, ING Real Estate Romania, GED Real Estate Eastern Investment, Romania Invest, Ericsson Telecommunications Romania and many others. Notable instructions and projects include: coordinator of the legal team retained by Carrefour Romania in connection with the expansion of the retail sale network of hypermarkets, including advice on a wide range of real estate, corporate and taxation issues; advisor to Carrefour Property, the real estate division of Carrefour Group, on its real estate investments and developments in Romania, including the conclusion and operation of a Joint-Venture Agreement with NEPI (a South-African Investment Fund) as regards the extension of an existing retail scheme in order to create the largest shopping mall in the SE part of Romania – Ploiesti Shopping City; advising one of the most successful local businesses, Ana Tower, on the fiscal law aspects involved by client’s prospected conclusion of a JV agreement with GTC (Globe Trade Center) for a EUR 70,000,000 development of a 28-storey A-class in Bucharest; coordinator of the legal team retained by ING Real Estate, in fund’s first acquisition in Romania of a commercial center, following a multi-million Euros transaction; coordinator of the firm`s real estate team assisting CEZ on all real estate and permitting matters pertaining to the development of the largest onshore wind farm project in Europe, worth investments up to EUR 1.1 billion; coordinator of the legal team assisting a well-known pharma distributor in tax disputes worth EUR 3,000,000 regarding reimbursement of VAT; coordinator of the legal team assisting AZVI and Vimac in connection with a EUR 67,000,000 contract for the refurbishment of Vidin-Calafat Bridge; advising the Romanian Privatisation Agency - AVAS - on M&A, post-privatisation and tax aspects related to the privatisation contract concluded with Ford Motor Co. regarding Automobile Craiova; coordinator of the legal team retained Romania Invest in connection with the acquisition of several residential projects, as well as the designing and implementation of a tax efficient structure for the sale of its real estate portfolio. Razvan is a regular contributor to various local and international publications on real estate and taxation issues and speaker at real estate conferences in Romania and abroad.

Languages

English; French; Italian.

Member

Bucharest Bar Association; Multilaw.

Education

Titu Maiorescu University (LL.B., 1996).

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Legal Developments by:
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