Romania

June 2026 Popovici Nițu Stoica & Asociații (PNSA) is pleased to announce that it has acted as legal counsel to longstanding client Ameropa Group in connection with the sale of Azomureș, Romania’s largest fertilizer producer, to S.N.G.N. Romgaz S.A. The transaction involves the transfer of all assets related to Azomureș’s production activities, as well as the assignment of key contracts and employees necessary to ensure business continuity, all under a transfer of business as a going concern structure. The deal marks a significant milestone for the Romanian energy and agricultural sectors, supporting the long-term sustainability of domestic fertilizer production and enabling the integration of Romania’s natural gas resources into value-added industrial processes. The transaction follows an extensive negotiation and due diligence process and remains subject to customary conditions precedent, including regulatory approvals. The transfer represents a new chapter for Azomureș, ensuring the continuation of its operations as a strategically important industrial platform and a key supplier to Romania’s agricultural sector. It also reflects broader market dynamics affecting the European fertilizer industry, including volatile energy markets and structural challenges in recent years. PNSA provided comprehensive legal assistance throughout the transaction, including structuring, due diligence, negotiation, drafting and execution support. The PNSA multidisciplinary team was led by Bogdan C. Stoica – Partner and included Ioana Lazăr – Managing Associate, Crina Stan – Associate, Raluca Rusu – Tax Partner, Ioana Cazacu – Employment Partner and Ștefania Dan – Consultant. Commenting on the transaction, Bogdan C. Stoica stated: “15 years after we have had the chance of advising Ameropa on the acquisition of Azomures, we are honored to have supported Ameropa in this landmark exit transaction, which has both strategic and economic significance for Romania. The agreement ensures a sustainable future for Azomureș and contributes to reinforcing the link between Romania’s natural resources and its agricultural sector.” Ameropa, a Swiss-based global agribusiness group, has been present in Romania for almost two decades and remains a key player in fertilizer distribution, grain trading and port operations, continuing its long-term commitment to the Romanian market following the transaction. PNSA is one of Romania’s leading independent law firms, widely recognized for its outstanding track record in M&A, Banking & Finance, Real Estate, Employment, Litigation and Arbitration, Tax and other areas of practice. With a team of over 80 lawyers and tax professionals, PNSA advises prominent international and domestic clients—including corporations, private equity funds, financial institutions and entrepreneurs—on complex, high-value transactions and strategic projects across multiple industries. The firm is consistently ranked as a top-tier law firm by major international legal directories such as Chambers & Partners, Legal 500 and IFLR1000, being particularly noted for its strong expertise in cross-border transactions and sophisticated legal structuring. PNSA’s M&A practice is widely regarded as one of the most experienced in Romania, having been involved in many of the country’s landmark transactions over the past two decades.

Stratulat Albulescu Attorneys at Law (“SAA”) has advised Little London in connection with a built-to-suit lease agreement for the development of a new educational campus within Nusco City, one of the largest mixed-use urban regeneration projects in Bucharest, developed by one of the most important real estate developers in Romania – Nusco. The campus will comprise approximately 7,500 sq. m. of built area on a 7,200 sq. m. plot and will accommodate more than 600 students across all educational levels, from kindergarten through high school. The project involves an investment exceeding EUR 18 million and is scheduled for completion in September 2029. The transaction reflects the continued integration of educational infrastructure within large-scale residential developments in Romania, with developers increasingly including schools as part of mixed-use projects. Such projects typically require the alignment of educational, operational and technical requirements within bespoke built-to-suit arrangements designed to accommodate the long-term needs of educational operators. Little London International Academy (https://lliacademy.ro/) is a private educational institution providing a complete educational pathway from kindergarten to high school. The school follows the Romanian national curriculum and integrates internationally recognised educational programmes, including the International Baccalaureate Primary Years Programme (IB PYP). Nusco City (www.nusco.ro) is a large-scale urban regeneration development located on a 23-hectare former industrial platform in the Pipera area of northern Bucharest. Upon completion, the project is expected to comprise more than 4,000 residential units, over 40% of the entire surface of the entire project is covered in green areas, parks, and tiny forest, and a range of complementary amenities. Nusco is continuing the development of the project in 2026 with the construction of an additional 836 residential units as part of Phase III. The SAA team advising on the matter was led by Managing Associate Daiana Assoum. Echipa SAA care a oferit consultanță cu privire la acest proiect a fost coordonată de Daiana Assoum, Managing Associate. For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected] or Catinca Cumpanasu (Marketing Assistant) at [email protected]. Stratulat Albulescu asistă Little London în dezvoltarea unui campus educațional în cadrul Nusco City Stratulat Albulescu Attorneys at Law (“SAA”) a asistat Little London în legătură cu un contract de închiriere de tip built-to-suit pentru dezvoltarea unui nou campus educațional în cadrul Nusco City, unul dintre cele mai mari proiecte de regenerare urbană cu utilizare mixtă din București, dezvoltat de unul dintre cei mai importanți dezvoltatori imobiliari din România – Nusco. Noul campus va cuprinde o suprafață construită de aproximativ 7.500 m.p. pe un teren de 7.200 m.p. și va găzdui peste 600 de elevi, acoperind toate nivelurile de învățământ, începând cu grădiniță și până la liceu. Proiectul implică o investiție care depășește 18 milioane euro și este programat pentru finalizare în septembrie 2029. Tranzacția reflectă integrarea continuă a infrastructurii educaționale în cadrul dezvoltărilor rezidențiale de amploare din România, dezvoltatorii incluzând tot mai frecvent unități de învățământ ca parte a proiectelor cu utilizare mixtă. Astfel de proiecte necesită, în mod obișnuit, implementarea unor mecanisme de tip built-to-suit care să răspundă cerințelor specifice de natură educațională, operațională și tehnică ale instituțiilor de învățământ. Little London International Academy (https://lliacademy.ro/) este o instituție privată de învățământ care oferă un parcurs educațional complet, de la grădiniță până la liceu. Școala urmează curriculumul național românesc și integrează programe educaționale recunoscute internațional, inclusive. Nusco City (www.nusco.ro) este un proiect de regenerare urbană de mari dimensiuni, situat pe fosta platformă industrială de 23 de hectare din zona Pipera, în nordul Bucureștiului. După finalizare, este estimat ca proiectul să cuprindă peste 4.000 de unități rezidențiale, peste 40% din suprafața totală a acestuia înseamnând spații verzi, parcuri și mini-pădure urbană și o gamă de facilități complementare. Nusco continuă dezvoltarea proiectului în 2026 prin construirea a încă 836 de unități rezidențiale în cadrul Fazei III. The SAA team advising on the matter was led by Managing Associate Daiana Assoum. Echipa SAA care a oferit consultanță cu privire la acest proiect a fost coordonată de Daiana Assoum, Managing Associate. Pentru mai multe informații, vă rugăm să o contactați pe Delia Bîjnea (Head of Marketing and Communications), pe adresa de e-mail: [email protected] sau pe Catinca Cumpanasu (Marketing Assistant) la [email protected].  

Legal guide for successions with international elements In a world of increasing mobility, it is increasingly common for an inheritance to involve assets in multiple countries or for a death to occur in a foreign state. In such cases, questions arise such as: which is the applicable law, what procedure is required, and what role does a will lawyer or a probate lawyers play? A trusted inheritance lawyer or inheritance attorney is essential for guidance. An attorneys that do wills and lawyers that do wills can assist with preparing the inheritance document or will as part of the intestate succession process, or ensure that legal heirs—including any heir—understand their rights. According to Romanian Civil Code, the inheritance is governed by the national law of the deceased, from the date of their death, and when assets are in Romania, probate lawyers or a will lawyer or inheritance lawyer can file the inheritance document through a procedure before a Romanian notary. There are no jurisdiction conflicts, but clarifications may be needed when a heir is a legal heirs or when distributing the estate in a succession. With more Romanians working or owning property abroad, the number of inheritance cases with cross-border issues is growing. An attorney that does wills and lawyers that do wills help ensure compliance with applicable law across jurisdictions. Collaboration with an inheritance attorney and a will lawyer is recommended when a will, or in absence of a will, intestate succession, is involved. When the death occurred in the country If a person dies in Romania and owns assets on Romanian territory, the inheritance procedure is governed by Romanian law. An inheritance lawyer can guide the steps necessary to obtain an inheritance document through a notary. In this case, there is no jurisdictional conflict, but issues may arise regarding the status of the heir or the distribution of the estate. In this situation, there is no conflict of laws, as jurisdiction is clear and Romanian succession law applies. However, problems may arise regarding the status of the heir or the inheritance concerning the distribution of the estate. Therefore, working with an attorney specialized in inheritance law is essential to clarify any misunderstandings or disputes. It is important to emphasize that, in any inheritance procedure, compliance with succession law norms protects the rights of every heir, whether they are legal heirs or legatees designated by a will and certified through an inheritance document. When the death occurs on Romanian territory and there are assets in the country, the involvement of a notary alongside an inheritance attorney is necessary to comply with the procedure and protect the rights of all heirs. Inheritance in Romania when the death occurred abroad Cases in which the deceased passes away abroad but owns property in Romania are increasingly common among Romanians in the diaspora. Therefore, it is crucial to establish the applicable law governing the succession. The involvement of a will lawyer, a probate lawyers, and a notary in Romania helps facilitate the procedure. Even though the death did not occur in Romania, the heirs can request the issuance of an inheritance document based on a will, or in its absence, under intestate succession law. This is especially important if the deceased had dual citizenship, permanent residence abroad, or drafted a will under a foreign legal system. In such situations, Regulation (EU) No. 650/2012 applies, allowing for the choice of national law to govern the succession (if expressly stated in the will). The expertise of a inheritance lawyer or inheritance attorney, along with attorneys that do wills, is essential for navigating cross-border legal issues and coordinating with a notary in Romania. They can also help obtain and legalize foreign documents (death certificates, birth certificates, wills, certified translations, etc.) and assist in preparing the necessary paperwork. Even if the death occurred abroad, heirs are entitled to request an inheritance document for assets located in Romania. If the heir resides abroad, the procedure can be carried out through a special power of attorney, without requiring their physical presence in Romania.   Inheritance involving assets in multiple european countries – Which court has jurisdiction and what law applies When a succession involves assets located in several EU member states, Regulation (EU) No. 650/2012 applies. This establishes that the applicable law is generally that of the country where the deceased had their habitual residence at the time of death.   “In the case of an international inheritance, correctly choosing the jurisdiction and identifying the applicable law is essential. With the support of a inheritance lawyer, heirs can avoid legal bottlenecks and obtain recognition of their rights efficiently and lawfully,” stated the Coordinating Lawyer of the Romanian Law Firm Pavel, Margarit & Associates, Dr. Radu Pavel.   The Romanian Law Firm Pavel, Margarit & Associates provides complete legal assistance in the field of inheritance law, with a focus on international succession and cross-border inheritance. Our team of inheritance attorney, lawyers that do wills, and probate lawyers offers legal advice and representation before notaries and competent courts, both in Romania and across Europe. If you are dealing with an inheritance involving assets located in several countries, or a death that occurred abroad, do not hesitate to contact us via the form available on our website: https://avocatpavel.ro/contact/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us To obtain recognition of an inheritance document in multiple countries, a european certificate of succession may be required. The expertise of an inheritance lawyer or an attorneys that do wills allows for efficient management of the cross-border procedure, in collaboration with a notary partner abroad. A will lawyer or a lawyers that do wills is also crucial in handling documents such as will, inheritance document, and international succession strategies. The role of a specialized inheritance attorney and probate lawyers is to ensure legal representation and the protection of every heir and their rights, whether based on will or intestate succession. In complex cases such as these, an inheritance lawyer with experience in international succession law is an essential support. A probate lawyers can assist with verifying applicable law, preparing necessary inheritance document, and advising legal heirs on each phase of the procedure, from identifying the heir to implementing the distribution of the estate. Whether the death occurred in Romania or abroad, a qualified will lawyer, inheritance attorney, and lawyers that do wills team can offer clarity and efficiency.

What are the main stages of the preventive concordat procedure? A preventive concordat (judicial pre-insolvency arrangement) is an effective legal solution, providing a regulated framework for debt restructuring and the avoidance of insolvency proceedings in Romania. However, this restructuring proceeding in Romania is not without significant challenges. The preventive concordat in Romania is governed by Law 85/2006, and correctly completing each stage is essential for a successful restructuring in Romania. One of the main obstacles is the lack of cooperation from creditors. Often, they are reluctant to accept the terms proposed by the entrepreneur, because they fear they will not fully recover their claims. Poor communication or a lack of transparency on the part of the debtor can lead to the rejection of the restructuring plan, thus seriously affecting the real chances of saving the company and inevitably triggering the opening of insolvency proceedings in Romania. Another major challenge is preparing an unrealistic plan. An effective restructuring plan requires an objective and detailed evaluation of the company’s financial situation, along with well-founded measures for the reorganization of the company in Romania. If the plan is overly optimistic and does not reflect reality, it may lead to a failed preventive concordat, followed by full insolvency proceedings in Romania and the company becoming insolvent. Insolvency petition in Romania: filing and opening The process begins with the application for opening the pre-insolvency proceedings in Romania, submitted by the debtor to the Tribunal at the company’s registered office. The applicationmust be accompanied by a report drawn up by a judicial (concordat) administrator in Romania, who analyses the debtor’s state of difficulty. It is crucial that the restructuring petition in Romania is complete and accurately reflects the company’s situation to avoid the risk of rejection. An experienced insolvency lawyer in Romania can ensure the file is properly prepared, minimizing the chance of premature dismissal. Arrangement with creditors, plan approval, and post-confirmation monitoring After the opening of pre-insolvency proceedings in Romania, the court grants the debtor a protection period during which enforcement actions are suspended, typically starting at 4 months and extendable up to 12 months. During this period, essential contracts remain in effect despite outstanding payments. Within 60 days from the opening of pre-insolvency proceedings in Romania, the entrepreneur—exclusively with the support of a judicial administrator in Romania (“administrator concordatar”)—prepares the restructuring plan. It is important to emphasize that creditors cannot propose their own plans; this exclusive right belongs to the debtor. Following the plan’s submission, a maximum 60-day negotiation and approval phase begins with the affected creditors. During this period, the plan may be modified through successive voting rounds. If necessary, the court may grant an extension of up to 30 days to complete negotiations and voting. Only creditors whose claims are included in the plan are entitled to vote. If the plan is approved, the court prepares the official minutes and, within 3 days, a request is made for judicial confirmation. This request must include a valuation report of the company’s assets prepared by an authorized expert. After judicial confirmation, the entrepreneur continues to operate the business according to the terms of the approved plan. The judicial administrator in Romania submits quarterly progress reports to the court and creditors, providing updates on the company’s performance and the plan’s implementation. These reports are also reviewed by the court on a quarterly basis. Throughout this sensitive phase, a litigation lawyer in Romania can represent the interests of the company or creditors in case of disputes, ensuring legal protection and smooth procedural progress. Closing the procedure: success or failure The preventive concordat proceedings in Romania terminate in one of two ways: successful plan completion, which results in the extinguishment of restructured debts, or failure of the plan. If the plan fails, creditors can resume enforcement, and the company risks full insolvency. As part of the exit process, a creditors voluntary arrangement in Romania or voluntary agreement with creditors in Romania is confirmed—if successful—or unwound when the judicial decision is rendered. “Success in restructuring depends on realistic measures and the active involvement of all parties. A preventive concordat is not just a legal formality—it is a strategic reconstruction process,” says Senior Attorney Dr. Nicoleta Mirela Năstasie, of The Romanian Law Firm Pavel Margarit and Associates. “A well-founded plan, supported by an experienced judicial administrator in Romania, can be the difference between recovery and failure. Through a preventive concordat, the company remains functional, and creditors benefit from a creditors’ voluntary arrangement in Romania in a controlled and predictable environment,” states Dr. Radu Pavel, Managing Partner at The Romanian Law Firm Pavel Margarit and Associates. The Romanian Law Firm Pavel Margarit and Associates offers full legal assistance in insolvency proceedings in Romania and reorganization of the company in Romania, providing counsel and representation before courts and regulatory authorities. Their services include preparing and defending an insolvency petition in Romania, advising during an opening of insolvency proceedings in Romania, guiding an arrangement with creditors in Romania, and closing the insolvency proceedings in Romania successfully. Contact us today—do not navigate these complexities on your own. Our expertise as both insolvency lawyer in Romania and litigation lawyer in Romania ensures your company’s legal security and strengthens your chances for a smooth reorganization in Romania and successful insolvency procedure in Romania. Visit our website to complete the contact form: https://avocatpavel.ro/contact/ Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us