Firm Profile > Schoenherr si Asociatii SCA > Bucharest , Romania
Schoenherr si Asociatii SCA Offices
BLVD DACIA NR 30, ET. 7
Schoenherr si Asociatii SCA > The Legal 500 Rankings
Capital markets Tier 1
Schoenherr şi Asociaţii SCA handles the entire range of capital market transactions including IPOs, SPOs, and secured and unsecured debt issuances. It notably acted for Raiffeisen Bank, Groupe Société Générale and Banca Comercială Română in relation to a €120m principal amount bond issuance by the city of Bucharest. In a further highlight, the team advised Sphera Franchise Group on its IPO on the Bucharest Stock Exchange, including on the pre-IPO corporate restructuring of six entities operating across three jurisdictions. Narcisa Oprea heads the practice, which also assists clients with corporate governance and compliance issues. Attorney at law Veronica Das Alexeev is also singled out.
Banking and finance Tier 2
NPL portfolio sales are a core strength for Schoenherr şi Asociaţii SCA. The team assisted Piraeus Bank with introducing a service level agreement regarding a large portfolio of NPLs following the client’s exit from the Romanian market. In a further highlight, practice head Matei Florea advised OTP Bank Romania on its attempted purchase of Banca Românească shares held by the National Bank of Greece. Further areas of expertise for the group include deleveraging transactions, debt restructuring projects, regulation, financing and banking-sector transactions.
Markus Piuk, Madalina Neagu and Monica Cojocaru head the practice at Schoenherr şi Asociaţii SCA. Recent work highlights include acting on a number of transactions in the banking industry such as Eurobank Athens' sale of shares held in Bancpost to Banca Transilvania and advising Piraeus Bank on the sale of its banking subsidiary in Romania to J.C. Flowers & Co. In addition, the team oversaw the €725m sale of Alpiq Group’s industrial business to Bouygues Construction.
Dispute resolution Tier 2
Schoenherr şi Asociaţii SCA maintains ‘professional standards of the highest level’ and has ‘proven extensive expertise and deep knowledge of even the most complicated legal issues’. The team is well regarded for handling tax, insurance, corporate and public procurement disputes, as well as international arbitration cases. ‘Visionary lawyer’ Sebastian Gutiu has an ‘impressive capacity for synthesis and analysis’ and Emeric Domokos-Hancu is a ‘great strategist and litigator’. The two head the practice alongside Adina Jivan, who with Gutiu is defending a Romanian electricity company against a claim alleging the non-fulfilment of post-privatisation obligations.
Energy and natural resources Tier 2
Schoenherr şi Asociaţii SCA possesses ‘in-depth knowledge of energy market issues’ and assists clients in a ‘fast’ and ‘reliable manner’. Monica Cojocaru ‘inspires confidence’ and jointly leads the practice with Markus Piuk. A number of energy-related disputes form part of the recent caseload including defending a company member of a state-owned electricity company in litigation against an electricity distributor regarding the alleged non-fulfilment of post-privatisation obligations. The group is also adept at advising on regulatory issues and large-scale projects.
EU and competition Tier 2
Schoenherr şi Asociaţii SCA was recently successful in discarding a Romanian Competition Council investigation into non-discrimination commitments on behalf of client Vodafone Romania. Practice head Georgiana Bădescu led on the matter and is particularly experienced in acting on telecoms market investigations. In addition to inquiries and investigations, competition litigation, compliance programmes, state aid matters and contractual reviews form the recent caseload. Merger clearances are also a strength with the group recently obtaining clearance for AkzoNobel's acquisition of Fabryo Corporation.
PPP and procurement Tier 2
Schoenherr şi Asociaţii SCA's team has been bolstered with Oana Voda from COVERS Commercial & Legal Affairs; she now heads the practice with Matei Florea and brings experience in concession contracts negotiations and PPP project preparation and implementation. The recent caseload includes energy, road, railway, airport and industrial and commercial infrastructure projects.
Real estate and construction Tier 2
Praised for its ‘know-how in the field of real estate and construction’, Schoenherr şi Asociaţii SCA’s team of ‘extremely professional lawyers’ is well regarded for advice on transactions, developments, constriction agreements, on agriculture and forestry-sector matters, as well as litigation and arbitration. A notable instruction on the acquisition front came from Bosch Group in relation to a 7,000sqm plot of land in the centre of Cluj-Napoca. Riso Scotti received advice on the restructuring and sale of a real estate portfolio of approximately 3,500 agricultural land plots. The four-partner practice is jointly lead by Sebastian Gutiu, Simona Chirica, Oana Constantinescu and Eva Hegedüs-Brown.
Restructuring and insolvency Tier 2
Emeric Domokos-Hancu is a ‘bright and resourceful insolvency lawyer’ and heads Schoenherr şi Asociaţii SCA's practice jointly with Sebastian Gutiu. The team is reputed for handling large-scale restructurings and major cross-border bankruptcy cases. Nortel Networks instructed the group as its Romanian counsel after filing insolvency proceedings across Europe, the US and Canada. Gutiu enjoys an ‘excellent reputation’ and ‘distinguishes himself through his professionalism’.
Tax Tier 2
Schoenherr şi Asociaţii SCA represents Alpiq Energy in a dispute with the Romanian tax authorities regarding €175m of VAT, corporate income tax and penalties imposed on the client. Theodor Artenie, praised for his ‘pragmatism, helpfulness and proactive approach’, heads the practice, which has core strengths in litigation, transfer pricing and transaction-related advice.
White-collar crime Tier 2
Schoenherr şi Asociaţii SCA possesses ‘extensive knowledge of the applicable legislation and can easily understand complex schemes specific to white-collar crimes’. Practice head Sebastian Gutiu is a ‘well-experienced attorney with excellent knowledge on how to organise a defence’. Recent work highlights include tax evasion, bid rigging, cybercrime and counterfeiting matters.
Employment Tier 3
Mara Moga-Paler joined Schoenherr şi Asociaţii SCA from employment boutique, Employment Law Office, and heads the team following Adriana Radu's departure. The group handles employment projects, renders ongoing advice, assists with trade union negotiations as well as with data protection and legislation issues.
Intellectual property Tier 3
Clients praise Schoenherr şi Asociaţii SCA's ‘very good responsiveness and quality of legal advice’. Sorin-Eduard Pavel's team covers the entire array of consultancy and litigation matters and successfully represented Italy-based Marchesi Antinori in a dispute regarding a potential trade mark infringement by a Romanian restaurant.
Schoenherr si Asociatii SCA > Firm Profile
Schoenherr si Asociatii SCA
Schoenherr’s Bucharest office opened in 1996 and has ever since been one of the most renowned international firms active in Romania and a top market player. The 60-lawyer team advises clients operating in various industries, including financial services, energy, manufacturing, real estate and constructions, retail, manufacturing, IT&C, pharmaceuticals and healthcare.
Areas of practice
Schoenherr si Asociatii SCA advises on the complete range of business law issues, with a strong experience on corporate and M&A, banking & finance and capital markets, real estate, dispute resolution. Other major practices include competition, compliance and white collar crime, employment, insolvency and restructuring, data protection, projects/PPP/concessions/public procurement, intellectual property, as well as tax consultancy. The corporate and M&A team has developed an impressive track record in local and regional transactions. The banking & finance team enjoys an excellent reputation in transactional and regulatory finance and capital markets work. The real estate team regularly acts on the largest property transactions and development projects in the country. The dispute resolution practice has expanded significantly over the past years, assisting on some high-profile, complex cases.
|Banking and finance||Matei Floreaemail@example.com|
|Capital markets||Narcisa Opreafirstname.lastname@example.org|
|Real estate and constructions||Sebastian Gutiuemail@example.com|
|Real estate and constructions||Simona Chiricafirstname.lastname@example.org|
|Real estate and constructions||Oana Constantinescuemail@example.com|
|Real estate and constructions||Eva Hegedues-Brownfirstname.lastname@example.org|
|Dispute resolution||Sebastian Gutiuemail@example.com|
|Dispute resolution||Emeric Domokos-Hancufirstname.lastname@example.org|
|Dispute resolution||Adina Jivanemail@example.com|
|Restructuring and insolvency||Adina Jivanfirstname.lastname@example.org|
|Restructuring and insolvency||Emeric Domokos-Hancuemail@example.com|
|White collar crime||Sebastian Gutiufirstname.lastname@example.org|
|White collar crime||Emeric Domokos-Hancuemail@example.com|
|EU & competition||Georgiana Badescufirstname.lastname@example.org|
|Data protection||Costin Sanduemail@example.com|
|Projects/PPP/concessions/public procurement||Matei Floreafirstname.lastname@example.org|
|Public procurement||Oana Vodaemail@example.com|
|Intellectual property||Sorin-Eduard Pavelfirstname.lastname@example.org|
Staff FiguresNumber of lawyers : 60 Worldwide : Over 300
LanguagesEnglish French German Hungarian Italian Polish Romanian Russian Spanish
OtherOther offices : Austria Other offices : Belgium/EU Other offices : Bulgaria Other offices : Croatia Other offices : Czech Republic Other offices : Hungary Other offices : Moldova Other offices : Montenegro Other offices : Poland Other offices : Serbia Other offices : Slovakia Other offices : Slovenia Other offices : Turkey Other offices : and 4 country desks in: Other offices : Albania Other offices : Bosnia & Herzegovina Other offices : North Macedonia Other offices : Ukraine
A landmark decision was issued yesterday (Judgement Bărbulescu v. Romania), a source of debate in the media, in which the European Court of Human Rights clarified the restrictions on monitoring employees in the workplace.
The Hungarian Ministry of the Interior recently submitted a legislative proposal to the Hungarian Government to amend the Act on Hungarian National Security Services (the "Proposal"). The Proposal suggests an amendment pursuant to which investors from non-EU and non-EEA countries who wish to invest in Hungary would have to obtain prior permission from the minister responsible for national security (the " Minister.
If adopted, investors from outside the EU and EEA would need to apply and obtain such permission if they intend to acquire more than a 25 % interest in an existing or yet to be established company with its registered seat in Hungary, provided that this company pursues activities that are deemed sensitive for national security.
On 13 July 2017, the High-Level Expert Group ("HLEG") on Sustainable Finance published its interim report ("Interim Report") setting out concrete steps to create a financial system that supports sustainable investments.
This Legal Insight is part of our dedicated newsletter series on the European Capital Markets Union ("CMU").
The growing awareness of environmental challenges and sustainability risks as well as the adoption of the UN 2030 Agenda and the conclusion of the Paris Climate Agreement by the EU in 2015 call for an EU strategy on sustainable finance.
Establishing an EU strategy on sustainable finance is a priority action of the CMU. In December 2016, the HLEG was established to advise on the development of such an EU strategy. The recently published HLEG Interim Report was recently presented in a public hearing on sustainable finance on 18 July 2017. At the same time, the HLEG presented an online questionnaire on the Interim Report aimed at obtaining targeted feedback until 20 September 2017, which would be reflected in the final report of the HLEG scheduled for publication by the end of 2017.
The Serbian Commission for Protection of Competition (the "Commission") recently intensified its antitrust activities before the new Administrative Act came into effect. In one week alone the Commission initiated four antitrust cases and conducted two dawn raids.
1. What/who will be on the Commission's radar?
One of the core principles of the EU-US Privacy Shield ("Privacy Shield") is its Joint Review mechanism, which obliges the European Commission, the US Department of Commerce and the Federal Trade Commission to jointly review the functioning of the Privacy Shield on an annual basis, together with its national security and law enforcement aspects. The very first Joint Review is scheduled for September 2017. This first review is considered especially important, as it will be the first opportunity for US and EU regulators to closely analyse the operation of the Privacy Shield, address possible concerns about its functioning, and seek to ensure that the Privacy Shield continues to be a valid legal basis for transfers of personal data from the EU to the US.
The Hungarian Parliament recently passed new legislation on arbitration (Act LX of 2017 on Arbitration, the “2017 Act”) that will reform Hungarian arbitration law as of 1 January 2018.
The 2017 Act, considering both the shortcomings of the current Hungarian legislation (Act LXXI of 1994 on Arbitration, the “1994 Act”) and the amendment of the UNCITRAL Model Law on International Commercial Arbitration adopted in 2006 (the “Model Law”), repositions arbitration by reforming the choice of arbitrators, the institutional system of Hungarian arbitration panels, and the power of the panels ordering interim measures and preliminary orders. read more...
On 10 July 2017, the Commission announced the public consultation on the development of secondary markets for non-performing loans (NPLs) and distressed assets. Following the commencement of this public consultation, the Council introduced its Action Plan for NPLs.
For the second time in less than five years, the Bulgarian Commission for the Protection of Competition ("Commission") has opened investigation proceedings regarding prohibited agreements and concerted practices against the major fuel companies in Bulgaria and closed them without issuing penalties.
The EU Regulation on Insolvency Law 1346/2000 (EIR) was considered a milestone in the cross-border coordination of national insolvency proceedings. The recast of the EU Regulation on Insolvency Law 2015/848, applicable to insolvency proceedings opened after 26 June 2017, considers substantial developments in national insolvency laws. read more...
The Hungarian Parliament passed an act in June 2017 with the aim of improving Hungary's business competitiveness. Among other things, the amendment has changed the regulation of trusts and their management, hopefully for the better, since the past three years have shown that a lack of such experience still exists. The legal concept of trust was introduced into Hungarian law in 2014, when the new Civil Code entered into force. Contrary to expectations, however, potential market players were hesitant to launch their businesses, mainly due to crippling bureaucracy and the vague regulation of trusts. read more...
As violations may lead to enormous liabilities, start-up employers are advised from the outset to comply with the applicable laws pertaining to their personnel. In addition to being an underestimated factor when it comes to financial liabilities, employment-law-related mistakes may also result in difficulties in the course of a company's sales process. For a better understanding of what can go wrong in employment relationships, three of the most common mistakes that employers make are listed below. read more...
After four months of negotiations, the Austrian National Council has finally reached an agreement on the amendment of the Green Electricity Act ("Ökostromnovelle"). The required two-thirds majority was reached by a last minute agreement between the coalition parties and the Green Party. The aim of the new legislation is to increase the percentage of green electricity and to achieve an expansion of renewable energy in Austria. read more...
On 28 June 2017 the Austrian Parliament passed the government's legislative proposal on insolvency law (Insolvenzrechtsänderungsesetz 2017). After lengthy negotiations, the government finally agreed to shorten personal insolvency proceedings to a maximum five years and to abolish the minimum insolvency quota of 10 % under certain conditions. The amendments will be applicable as of 1 November 2017. read more...
The newly adopted Government Emergency Ordinance No. 39/2017 (the "Ordinance") introduces significant changes to Romanian competition rules. For example, it implements the provisions on actions for damages resulting from competition law infringements, as regulated under Directive 2014/104/EU (the "Damages Directive") and sets out new provisions impacting the food/non-food retail sector, as well as the dawn-raid procedure and fines applicable by the Romanian Competition Council (the "RCC") to non-resident undertakings. read more...
The Austrian Law on the Responsibility of Associations: New tendency to prosecution authorities to t
The Austrian Law on the Responsibility of Associations (Verbandsverantwortlichkeitsgesetz, "VbVG") came into effect in 2006, stipulating that a company can be held criminally liable for certain criminal acts committed by its employees and decision-makers. According to new tendencies of prosecution authorities, the practical scope of the VbVG could expand in the future. read more...
Lex Agrokor – behind the scenes
The hottest topic in Croatia right now is the Agrokor situation and the newly enacted Act on Compulsory Administration Procedure in Companies of Systemic Importance for the Republic of Croatia (Zakon o postupku izvanredne uprave u trgovačkim društvima od sistemskog značaja za Republiku Hrvatsku; the "Act"). The Act was immediately nicknamed "Lex Agrokor" because of what appears to be its main purpose.
National Room for Manoeuvre Despite the GDPR
About a year before the General Data Protection Regulation (GDPR) comes into full effect, the Austrian legislator officially started a six-week consultation process for the national Data Protection Amendment Act 2018 (Datenschutz-Anpassungsgesetz 2018). The GDPR will harmonise the EU's data protection laws, but numerous so-called "opening clauses" allow national leeway. Besides, EU Directive 2016/680 requires implementation into national law and provides specific regulations on data processing by security authorities for the purpose of law enforcement. The published draft implements the Directive's provisions in a separate chapter (Hauptstück). read more...
European Commission Proposes EMIR Reform that will Minimise the Clearing Obligation for NFC and Cert
On 4 May 2017, the European Commission published its proposal for an amendment of the European Market Infrastructure Regulation (EMIR). The Commission calls the proposed amendment a good example of "better regulation in practice" which is "essential to the creation of the Capital Markets Union (CMU)".
The Ministry of Justice has circulated its initiative for improving the legal environment with the aim of increasing Hungary's competitiveness by amending certain regulations and institutions. Among other things, the initiative concerns cross-border mergers and operation of trustees, and generally aims to lighten administrative burdens. Most notably, if adopted in its current form, it will reform the Hungarian arbitration regulation. read more...
On 6 April 2017, the Austrian Parliament adopted significant amendments to Austrian competition law, as set forth in the Austrian Cartel Act ("KartG") and the Act on the Austrian Federal Competition Authority ("WettbG"). The amendments concern three main areas: (i) implementation of the EU Damages Directive; (ii) introduction of an additional transaction value test in merger control; and (iii) certain adjustments to strengthen public enforcement of antitrust infringements. read more...
Employers may prohibit their employees from wearing Islamic headscarves and other religious or political symbols, subject to certain conditions. On 14 March 2017, the European Court of Justice (the "ECJ") adopted a corresponding ruling in Luxembourg and decided on two cases in this respect, one dealing with a receptionist from Belgium and the other with a software designer from France. read more...
Slovenia adopted a new law regulating rescue and restructuring state aid, which entered into force in mid-February. When notified to the European Commission as a state aid scheme, it will allow the Republic of Slovenia to support companies and cooperatives in difficulty without having to notify support mechanisms in accordance with the provisions of the law as an individual aid measure to the European Commission. read more...
What previously was impossible and not foreseen by local legislation is now possible. Starting 1 January 2017, the Tax Code of Moldova (the "Tax Code") was amended by Law 281/2016 to include a separate norm (Art. 136¹) on individual tax rulings ("ITR") for the benefit of entrepreneurs. Within the limits of its scope and in respect of a concrete beneficiary, an issued ITR is binding on the State Tax Service (the "STS"). The Government and the Ministry of Finance are expected to approve the secondary legislation to regulate the details of the procedure. read more...
Even at first blush, it is apparent that arbitration and insolvency make strange bedfellows.
The reason they make such an odd couple is the different underlying policies, objectives, and purposes they stand for. The heart of arbitration lies at the privity of contract and the existence of party autonomy independent from the state. In contrast, insolvency reflects a centralized and to a certain extent state-managed procedure that holds all creditors equal, within a set system of ranking – a transparent and accountable process governed by mandatory substantive and procedural law provisions. read more...
Policyholders of unit-linked life insurance products pay an agreed sum for the unit-linked insurance to the insurance company, as a regular premium, or in one lump sum. These payments cover the life insurance component as well as the investment, administrative costs, contracting fee and the commissions. The "total cost charged" ("TCC") is an indicator – calculated in line with the rules of Hungarian insurance regulations – showing all costs charged on life insurance policies having a savings element, reflected as a percentage value. The regulation of the TCC in Hungary has been amended effective 1 January 2017. read more...
On 7 March 2017, the Hungarian parliament adopted a law that increases the minimum sale price of a residential property in the enforcement procedure from the current 70% of its market value to 100% (market value to be understood as the price set by the appraisal of the bailiff), provided that (i) the claim to be enforced stems from a consumer contract; (ii) the real property is the debtor's only real property; and (iii) the debtor resided in that real property for at least six months prior to the initiation of the enforcement procedure. read more...
Legislative vacuum filled: Czech Republic introduces comprehensive new national legislation on e-cig
New legislation regulating e-cigarettes in the Czech Republic entered into force on 1 March 2017, introducing specific safety and quality requirements on e-cigarettes in the country for the first time. read more...
The amendment aims at alleviating the existing regime for pricing of pharmaceuticals for home treatment of chronic, genetic and/or rare diseases and paid by the National Health Insurance Fund (NHIF). It affects the interests of individuals with health insurance and the activities of more than 290 authorisation holders, of the wholesalers of pharmaceuticals, and of pharmacies (as retailers). read more...
On 16 December 2016, the Council of the European Union announced agreement on its negotiating stance in relation to the proposed regulation amending the European Venture Capital Funds ("EuVECA") Regulation (Regulation (EU) No 345/2013) and the European Social Entrepreneurship Funds ("EuSEF") Regulation (Regulation (EU) No 346/2013), which is now at the European Parliament's ECON committee, scheduled to be voted on, on 22 March 2017. On 31 January 2017 the call for expression of interest for selecting a fund manager of the Pan-European Venture Capital Fund-of Funds closed; and tax incentives for venture capital and business angels are expected to be proposed in the course of 2017 to foster investment in SMEs and start-ups, close the funding gap and thereby remove obstacles to economic growth in Europe. read more...
Facilitation or Liability Trap for Foreign Employers? – The Revised Austrian Law against Wage and So
On 1 January 2017, the revised Austrian Law against Wage and Social Dumping ("Lohn- und Sozialdumping Bekämpfungsgesetz" or "Revised LSD-BG") came into force. The Revised LSD-BG applies to matters arising after 31 December 2016.
Austrian Supreme Court Establishes New Standards as Regards the Decisive Underlying Reasoning of Arb
The decisive underlying reasoning ( motifs, Begründung) is, without doubt, an essential part of any arbitral award and as such bears the potential of frustrating parties and arbitrators alike. On the one hand, elaborate reasoning in arbitral awards more often than not comes at the price of long waiting periods for the issuance of the awards, and periods of meticulous drafting on the part of the arbitrator(s). On the other hand, a lack of elaborate reasoning may likewise be a headache, since it exposes the arbitral award to setting aside. read more...
The Constitutional Court of Moldova has spoken: No Need for Acquirer of a Share Stake to Obtain Shar
Through its 27 September 2016 decision ("Decision 27/2016"), the Constitutional Court of Moldova ("Constitutional Court") has declared certain provisions of the local Law on Limited-Liability Companies ("Law 135/2007") unconstitutional. In particular, it ruled that the operation of amendments to constitutive acts cannot constitute a condition and impediment to an acquirer registering its property right over a share stake in the State Register of Companies. read more...
The EU Capital Market Union – European Commission establishes expert group to develop strategy on su
On 28 October 2016, the European Commission decided to establish a High Level Expert Group on sustainable finance, one of the European Commission's primary objectives within the EU Capital Markets Union ("CMU").
This Legal Insight is the first part of our dedicated newsletter series on the CMU. We will provide regular updates on CMU-related topics. read more...
As of 20 October 2016, new legal provisions are in place in Romania setting out how consumers should be informed of products that use frozen foods in their preparation. In this respect, the consumer protection authority enacted Order 183/2016 ("Order 183") published in the Official Gazette on 20 September 2016. read more...