Firm Profile > Schoenherr si Asociatii SCA > Bucharest, Romania

Schoenherr si Asociatii SCA

Romania > Capital markets Tier 1

Schoenherr si Asociatii SCA's highly respected capital markets team offers a huge amount of experience. The firm's standing is built upon key relationships with a high-profile mix of issuers and investment banks, who appreciate the firm's ability to handle complex domestic and international offerings and regulatory issues. The extremely well regarded Narcisa Oprea has led the team for over a decade years, and clients are quick to praise her team of associates, including Veronica Das Alexeev.

Practice head(s):

Narcisa Oprea

Other key lawyers:

Veronica Das Alexeev


‘This practice is unique as it combines lots of experience, thoroughness and pragmatism. Standing ovations for Narcisa Oprea for the quality of her work, her responsiveness, and pragmatic solutions to unusual problems.’

‘Unparalleled real-life experience on the Romanian stock exchange/capital markets. A can do attitude, focussed on results and not on ‘why this will not work. Narcisa Oprea is probably the most experienced consultant and trial lawyer active on the Romanian capital markets.’

‘High-level and wide-range of expertise in capital markets in Romania which is not found in other firms.’

Key clients

Bittnet Systems SA

Horizon Capital

MedLife SA

Patria Bank SA

Qualitance QBS SA

SAI Atlas Asset Management SA

Romania > Commercial, corporate and M&A Tier 1

Schoenherr si Asociatii SCA has one of the most active M&A teams in the market offering strong expertise across various sectors, including pharmaceuticals and healthcare, consumer goods, manufacturing and financial services. Between them, partners Markus Piuk, Madalina Neagu and Monica Cojocaru, have built up close relationships among corporate and private equity clients. The firm's regional network, particularly in Austria and Germany, is difficult to rival. Narcisa Oprea is noted for her overlapping capital markets expertise, while Matei Florea is singled out for related banking issues.

Practice head(s):

Markus Piuk; Monica Cojocaru; Mădălina Neagu

Other key lawyers:

Narcisa Oprea; Matei Florea


‘Very experienced practice and assertive approach to negotiations. Innovative solutions to classical M&A negotiation issues that brought the bacon home. Very impressed with Madalina Neagu and Cristina Enaga for their approach to negotiations and efficiency of their work process.’

‘This team is extremely skilled and effective. They understand very well the key items of the deal and help in focusing the efforts to resolve them. Proactive, supportive, problem solvers. The type of legal support you definitely need in an M&A transaction.’

‘Monica Cojocaru was responsive, accessible, proactive. Partnering with the client to find solutions and overcome roadblocks in the transaction. Very skilled and pragmatic.’

‘Schoenherr covers the full range of commercial legal services with an active presence in all CEE countries. The local knowledge from all countries make them a perfect match when seeking for legal advice in very complex situations, being able to propose tailor made teams from a domicile and area of expertise standpoint. We value from Schoenherr the quality of the newsletters and academic publications shared with us, which offer valuable opinions on the hot topics of the business markets.’

‘Madalina Neagu is the partner in M&A. Deep knowledge of the M&A market but also experience in all legal matters related. Flexible enough to deal with all topics, even below her expertise for a holistic approach.’

Key clients


Globe Trade Center (GTC)

Horizon Capital

Intermedio General Group

Morphosis Capital Fund I

OMV Petrom Group

TeraPlast SA

Romania > Energy and natural resources Tier 1

Schoenherr si Asociatii SCA has built a superb reputation for energy-related legal advice, praised for its sector-specific expertise and ability to draw in other practice groups when required. Monica Cojocaru has developed a strong name in this area, with expertise that spans transactional, regulatory and infrastructure projects. She works alongside well-regarded corporate partner Markus Piuk, who divides his time between Bucharest and Vienna. The team is comfortable across most aspects of upstream and downstream oil and gas, and conventional and renewable power.

Practice head(s):

Markus Piuk; Monica Cojocaru


‘They provide exceptional quality even in the volatile Romanian environment. We have been cooperating for many years now and they have never let me down.’

‘The team combines the international reach of Schoenherr with detailed knowledge of local legal and practical issues. Their extensive experience in the sector gives them a genuine sector edge rather than energy being part of their overall practice. It also means they have excellent relationships with the relevant government and other agencies as well as all the major players: if you have an issue they will have seen it before and know how to solve it.’

‘The team is very diverse and their technology is top notch as you would expect from an international firm.’

‘They are well organised and they are provide quick reply covering various and complex issues. In case some legal issues needs different kind of expertise they bring inside the working teams lawyers covering not only the main aspect but also other issues in connection with the scope of work.’

‘Monica Cojocaru leads the team and is a very experienced sector expert. Very responsive, hugely knowledgeable and a pleasure to deal with.’

Key clients


European Bank for Reconstruction and Development

European Commission – Directorate-General for Energy

OMV Petrom

OMV Petrom Marketing

PATRES – the Renewable Energy Producers Organisation in Romania

Romania > Real estate and construction Tier 1

Schoenherr si Asociatii SCA offers a multi-faceted real estate team that works closely with other departments and the firm's international network on complex cross-border transactions. The team covers all asset classes, although clients especially appreciate its expertise in the agribusiness and forestry sector, both for regulatory and commercial support. These are areas where Simona Chirica and managing associate Mădălina Mitan are of particular note. Managing partner Sebastian Gutiu leads the firm's group-wide real estate team, ensuring a joined-up approach throughout the region. The versatile Oana Constantinescu is strong on transactional, development and environmental matters.

Practice head(s):

Sebastian Guțiu

Other key lawyers:

Simona Chirică; Oana Constantinescu; Mădălina Mitan


‘Team with a high willingness to quickly develop new areas, working beyond normal working hours. In addition, each individual and the whole team is extremely friendly and also helpful in addition to the core area of legal advice.’

‘Our requests were answered by great availability, outstanding professionalism and on-point solutions. Even though these three qualities that I highly appreciate might sound common, in practice they are rarely met and these make the team totally stand out.’

The real estate team at Schoenherr si Asociatii SCA has a strong expertise in agribusiness. To the best of my knowledge, there are only a few Romanian lawyers who can easily handle such a niche specialisation and I do not think there is another large business law firm in the market to have a full time team covering the agriculture sector. Our market is one that involves some very particular legislative requirements and Schoenherr is fluent in navigating them all, due to their long history of working for agribusiness investors. ’

‘Fast response time and commercial understanding of client’s needs. ’

‘Sebastian Gutiu is one of the most valued lawyers and partners I have worked throughout my over 20 years career in real estate. Listening carefully, analyzing issues, and always bringing his solution-oriented, well-thought out attitude, all dressed in deep knowledge of his subject, are just some of the qualities for which I both admire and choose to work with him. ’

‘Real estate partner Simona Chirica is a brilliant lawyer, very dynamic, with an incredible energy. She has a full understanding of the civil and real estate legislation, a great sense of business and is focused on getting things done. She coordinates quite a sizeable team specialising in real estate. Madalina Mitan is probably one of the best real estate lawyers in Bucharest to assist an agriculture company on doing business in Romania. She is well familiarised with this sector, knows what agribusiness companies’ goals and struggles are and is capable to find the legal ways for them to achieve their business goals. ’

Key clients

Bucur SA

Hanner RD

Interglobe Enterprises Limited

OMV Petrom

PROFOREST, The Association of Private Forest Land Owners in Romania

Riso Scotti

Romania > Banking and finance Tier 2

Schoenherr si Asociatii SCA can regularly be found advising borrowers and lenders on high-profile financings. The firm is also strong on the regulatory front and was involved in several significant restructurings over the past year. Clients benefit from the firm's strong regional presence. The highly experienced Matei Florea leads the firm's CEE banking and finance and capital markets practice. Other key individuals include well regarded counsel Adina Damaschin. Both lawyers have a good track record advising on the acquisition and sale of distressed asset and loan portfolios.

Practice head(s):

Matei Florea

Other key lawyers:

Adina Damaschin


‘The quality of the partners, in conjunction with advanced communication and negotiation skills, render Schoenherr a top-notch legal firm on the Romanian market.’

‘Very professional, good legal knowledge and practice, in accordance with the relevant market, also providing in time the most convenient solutions. Very practical, providing clear solutions.’

‘Professional behavior showed all time, good understanding of the matters discussed, always available to find the best solutions.’

‘Schoenherr’s team in Bucharest is a perfect combination between the reach and resources of a large international law firm and a boutique approach to customers. Despite their large regional footprint, as a client you always get thorough, high quality and bespoke support, irrespective of the project size.’

‘Matei Florea is an exceptional lawyer with a very good understanding of the market and excellent knowledge.’

‘Adina Damaschin is a highly skilled professional.’

Key clients

Banca Comerciala Romana SA

Erste Group Bank

Eurobank Ergasias SA

European Investment Bank

Patria Bank SA

Piraeus Bank SA

Raiffeisen Bank International AG

Romania > Dispute resolution Tier 2

Schoenherr si Asociatii SCA is an extremely reliable choice for a wide variety of disputes, including public procurement claims, antitrust, insurance, tax, consumer and contractual disputes. The team also has good experience of international arbitration and investment treaty claims. Managing partner Sebastian Gutiu has established a strong reputation for high-stakes disputes. Managing attorney Iustin Armașu is now the main contact for regulatory disputes, following Adina Jivan's departure to Zamfirescu Racoti Vasile & Partners.

Practice head(s):

Sebastian Guțiu; Iustin Armașu


‘Very good capabilities in dispute resolution, well-prepared lawyers and very good representation.’

‘Very solid team, with many senior lawyers who are perfectly capable to coordinate complex cases. Sebastian Gutiu is a fantastic leader. He is very practical and focused in his approach, willing to explore out of the box solutions in order to achieve results.’

Key clients


Asirom (Vienna Insurance Group)

Banca Comerciala Romana

Eurobank Ergasias

OMV Petrom

Romania > EU and competition Tier 2

Schoenherr si Asociatii SCA has a versatile and well-regarded team that is equally comfortable on major investigations as it is on merger clearance procedures. The firm's active corporate team ensures a regular flow of the latter, while the experience and reputation of practice head Georgiana Bădescu makes the firm a favoured destination for sensitive contentious issues. The standalone team provides compliance training and regular audits and mock dawn raids. Clients rate its specialised associates, including Mona Banu who worked for ten years in the Competition Council, and Cristiana Manea.

Practice head(s):

Georgiana Bădescu

Other key lawyers:

Mona Banu; Cristiana Manea


‘The firm covers all types of competition projects, from compliance to enforcement and litigation. They are great in liaising with the competition authority. They have a good-size team, with a perfect balance between theoretical knowledge and practical experience. They understand that their advice on competition compliance needs to be implemented on all company levels and are able to deliver said advice in a form that is easily translated into business terms.’

‘Their competition team is very business-minded and easy to approach. They only do competition work – unlike the competition teams in other major firms, that have double- or multiple- specialisations – so you can trust you will receive quick and top-class answers.’

‘They deliver first-class advice, communicate smoothly with the competition regulator and seem to know exactly what legal buttons to push to get the right outcome for the client. They think outside the box and were able to come up with some creative solutions for our project.’

‘Attention to detail, great professionals, client oriented, great understanding of the client’s needs and expectations.’

‘Georgiana Badescu, who runs the competition practice at Schoenherr, has a superb legal and business mind. She is definitely one of the leading competition lawyers in the Romanian market. She has a strong team working with her, with Mona Banu and Cristiana Manea building good names for themselves in the market as well.’

Key clients

Allianz-Tiriac Asigurari

Auto Italia

Carbo Europe

Gothaer Asigurari

Knauf Gips

OMV Petrom Marketing


PHOENIX Pharmahandel

Sika Group


Romania > PPP and procurement Tier 2

Schoenherr si Asociatii SCA has a diverse client base that regularly instructs the firm on major public tenders and related financings. The firm's lawyers have good experience of transport and social infrastructure projects, including universities and schools. The firm's regulatory and disputes expertise also helps on contentious issues and related legislative advice. Matei Florea heads the overall practice, with managing attorney Carmen Știrbu stepping in to head the public procurement side, following the departure of Oana Voda to Filip & Company.

Practice head(s):

Matei Florea

Other key lawyers:

Carmen Știrbu

Romania > Restructuring and insolvency Tier 2

Schoenherr si Asociatii SCA has a comprehensive insolvency and restructuring practice that is equally adept at representing creditors and debtors. This includes advice on debt collection programmes, company restructurings, insolvency procedures and litigation. There is good cohesion between Bucharest and other offices in the network, making it an attractive option for cross-border matters. Managing partner and disputes head Sebastian Gutiu is one of the lead partners, with strong support from managing attorney Iustin Armașu. Former partner Adina Jivan joined Zamfirescu Racoti Vasile & Partners.

Practice head(s):

Sebastian Guțiu; Iustin Armașu

Key clients

Banca Comerciala Romana

Gold Plast Production


Vestas CEU Romania

Romania > Tax Tier 2

Schoenherr si Asociatii SCA has a standalone tax advisory service operating through a specialist company, Schoenherr Tax Bucharest SRL. The group provides strong support on the full range of corporate matters, including transaction-related tax advice and cross-border projects. VAT, transfer pricing, social contributions, personal tax,  and corporate and withholding tax are all areas of expertise. The team also works closely with the disputes practice on litigations and challenges to tax audits. The practice is now led by Adriana Stoian following the departure of Theodor Artenie who joined Noerr in February 2021.

Practice head(s):

Adriana Stoian


‘The tax team at Schoenherr Bucharest has the in-depth expertise you simply need in such risky and volatile tax environment such as the one in Romania. The team delivers exceptional performance even in the most challenging projects.’

‘Schoenherr has expertise in tax matters, having great knowledge, excellent orientation on building a strong relationship with the client.’

‘This team is extremely skilled and assertive about tax matters. This is an area where you need certainty and no risk. They are able to provide customer the right answers given a strong know-how of the topic. Effective and partnering with client to find the best solution on tax matters.’

Key clients


Romania > White-collar crime Tier 2

Schoenherr si Asociatii SCA is commended for its strong white-collar crime and investigations practice, which fields several highly rated in-house specialists. The experienced team handles of mix of fraud, tax evasion, cybercrime, bid rigging and corruption claims, representing both claimants and defendants. Criminal defence is a key area, but the team also advises on internal investigations and related crisis management. Managing partner Sebastian Gutiu leads the team which also includes the highly rated criminal law specialist Magdalena Roibu.

Practice head(s):

Sebastian Guțiu

Other key lawyers:

Magdalena Roibu


‘The firm has an excellent, professional and well organized team, able to cover a lot of specialized expertise. The lawyers are well connected with the market and keep us updated with all relevant matters. They’re also immediately reachable.’

‘One of the most respected law firms for German speakers is growing and they are focusing on the white-collar crime practice. A small but very motivated team that will continue to rise in this practice area. ’

‘They have extensive knowledge of the applicable legislation and can easily understand the complex schemes specific to white-collar crimes. Thus, they can easily provide the support needed by clients involved in white-collar crimes. ’

‘I worked closely with Magdalena Roibu and she is one of the most ambitious, well-trained and results-oriented lawyers in the market.’

‘Magdalena Roibu is a lawyer dedicated to excellence and proficiency, and these are not just words. A difficult problem does not discourage her, but on the contrary she aspires to find the solution.’

‘Sebastian Gutiu is a well experienced attorney, with excellent knowledge about how to organize and successfully implement the defense in white-collar crimes files. ’

Romania > Employment Tier 3

Schoenherr si Asociatii SCA has built a strong standing in the market, particularly since the 2018 arrival of practice head Mara Moga-Paler, who has a loyal client base. The standalone team is a real asset for the firm's broader offering, and provides strong support on the full range of employment issues, including collective bargaining agreements, redundancy programmes, internal compliance procedures, and litigation. In the past year, the team proved an invaluable crutch to clients through the COVID-19 pandemic.

Practice head(s):

Mara Moga-Paler


‘Versatile team, focused on meeting the clients needs and finding the best workable solution in any situation.’

‘The employment team at Schoenherr si Asociatii SCA stands out way above other firms in the local market in terms of quality of their legal advice. Labour law is a quickly shifting legislative area in Romania, calling for lawyers who take this specialisation to permanently learn and adapt their advice to ever changing rules. I appreciate Schoenherr team’s outstanding ability to stay on top these legal changes, even in challenging times, such as the recent pandemic-related employment law issues faced by companies. ‘

‘Mara Moga-Paler has a sharp eye for issues in matters with an international context: she knows how to navigate between Romanian law and the law applying to multinationals.’

‘Mara Moga-Paler is brilliant, the right person for the job if you are facing any type of employment termination project, or want to put your house in order on employment aspects. She is a very good option for in house counsels who need a day-to-day employment advisor and can save a lot of time and costs by telling you how to avoid employment litigation.’

Romania > Intellectual property Tier 3

Schoenherr si Asociatii SCA clients benefit from a broad mix of IP-related services. The department, led by Sorin-Eduard Pavel, is an important adjunct to the firm's active corporate team, regularly providing IP support on cross-border M&As and restructurings. The team also has a strong standalone function, representing clients on IP infringement claims and anti-counterfeiting measures. The firm's regional presence is an advantage for IP-related multi-jurisdictional proceedings and strategies.

Practice head(s):

Sorin-Eduard Pavel

Key clients

Marchesi Antinori S.p.A

Bano Healthcare GmbH

The firm: 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 (oil & gas, nuclear, renewables), manufacturing & industries, real estate and constructions, retail, fast moving consumer goods, IT&C, pharmaceuticals & healthcare.

Areas of practice: Schoenherr si Asociatii SCA advises on the complete range of business law matters. The firm has strong experience in corporate/M&A, banking & finance and capital markets, real estate, dispute resolution (including litigation & arbitration, insolvency & restructuring,  white-collar crime), EU & competition, employment, data protection, projects, concessions/ PPP, public procurement, intellectual property, as well as tax advisory.

Department Name Email Telephone
Corporate/M&A Markus Piuk
Corporate/M&A Madalina Neagu
Corporate/M&A Monica Cojocaru
Banking & finance Matei Florea
Capital markets Narcisa Oprea
Real estate and constructions Sebastian Gutiu
Real estate and constructions Simona Chirica
Real estate and constructions Oana Constantinescu
Dispute resolution Sebastian Gutiu
Dispute resolution Iustin Armasu
Restructuring and insolvency Sebastian Gutiu
White-collar crime Sebastian Gutiu
EU & competition Georgiana Badescu
Employment Mara Moga-Paler
Data protection Carmen Stirbu
Energy Monica Cojocaru
Projects, concessions/ PPP, public procurement Matei Florea
Public procurement Carmen Stirbu
Intellectual property Sorin-Eduard Pavel
Tax Adriana Stoian
Technology & digitalisation Madalina Neagu
Number of lawyers : 60
Worldwide : Over 300
Other 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

Schoenherr advises Slate Asset Management on acquisition of EUR 90m real estate portfolio

Schoenherr advised Slate Asset Management, a global alternative investment platform focused on real estate, on the acquisition of a portfolio of essential real estate assets in Austria and Slovakia for approximately EUR 90m.

Schoenherr advises Liechtenstein Group on EUR 40m investment in Tesvolt

Schoenherr advised the Liechtenstein Group on its investment in Tesvolt GmbH, a technology leader for energy storage in the commercial and industrial sector.

Schoenherr advises Aquila Part Prod Com on successful IPO worth EUR 74m

Schoenherr Romania advised Aquila Part Prod Com on the successful completion of an initial public offering ("IPO") for the sale of some 66.6m new shares, for a total price of approx. EUR 74m.

Schoenherr to strengthen leadership across Austria and CEE by appointing new equity and contract partners

Schoenherr will substantially strengthen its leadership by appointing new equity and contract partners across Austria and CEE effective 1 February 2022.

Schoenherr advises Sendinblue on acquisition of Metrilo

Schoenherr advised the leading French-based all-in-one digital marketing platform Sendinblue SAS on the acquisition of Metrilo OOD ("Metrilo"), a Bulgarian e-commerce metrics company, from its founders and several investors such as Speedinvest II International GmbH, LAUNCHub Fund Coöperatief U.A. and Eleven Capital AD. The advising team in Schoenherr's Bulgarian office advised on all major legal aspects of the transaction, including due diligence and negotiation of transaction documents.

Schoenherr advises Nice & Green S.A. on innovative convertible notes funding programme with Marinomed Biotech AG

Schoenherr advised Swiss investment firm Nice & Green S.A. on an innovative convertible notes funding programme (CNFP) with Vienna Stock Exchange listed Marinomed Biotech AG.

Schoenherr advises Joint Lead Managers on issue of EUR 250m covered bank bonds by Kommunalkredit Austria AG

Schoenherr advised the Joint Lead Managers on the successful issue of EUR 250m 0.01 % covered bank bonds due 2028 by Kommunalkredit Austria AG.

Schoenherr advises ZECH Bau Austria on acquisition of Implenia’s building construction business

Schoenherr advised ZECH Bau Austria GmbH, a German owner-managed construction company, on the acquisition of Implenia Baugesellschaft mbH's building construction business in Austria by virtue of an asset deal. The closing of the transaction is currently subject to merger control clearance.

Schoenherr advises P&I on the acquisition of 100 % of shares in VRZ

Schoenherr advised P&I Personal & Informatik GmbH on the acquisition of 100 % of the shares in VRZ Informatik Gesellschaft mbH (Dornbirn) and its sister company ThinkCreateAct AG (Switzerland). The transaction is currently subject to the condition precedent of regulatory clearance. With the acquisition of the VRZ Group, P&I AG is expanding its presence in Austria and Switzerland.

Schoenherr advises on top Bulgarian dental distributor transaction involving Abris Capital Partners

Schoenherr advised the owner and CEO of Dentatechnica EOOD, the largest distributor of dental equipment and consumables in Bulgaria, on a transaction with Dentotal (Romania), a subsidiary of Abris Capital Partners. Subject to competition authorities' approval, Dentatechnica will become part of Dentotal Group with the aim of creating a regional leader through organic growth and further consolidation of local markets in Romania and Bulgaria.

Schoenherr advises Wienerberger AG on the successful placement of 2.5 million treasury shares through accelerated bookbuilding

Schoenherr advised Vienna Stock Exchange listed Wienerberger AG, a leading international supplier of building materials and infrastructure solutions, on the EUR 81.25m placement of treasury shares with institutional investors.

Austria/CEE: Schoenherr advises UNIQA on the acquisition of AXA subsidiaries in CEE for EUR 1bln

Once again, Schoenherr has advised on a billion-euro transaction in the CEE region: An international Schoenherr team assisted UNIQA on the acquisition of AXA subsidiaries in the Czech Republic, Poland and Slovakia for a purchase price of around EUR 1bln.

Austria/CEE: Schoenherr further strengthens leadership with promotions

Schoenherr is strengthening the ranks of equity partner, contract partner and counsel with new promotions effective as of 1 February 2020. With Pawel Halwa and Thomas Kulnigg, Schoenherr promotes two longstanding Schoenherr experts to equity partners. Constantin Benes, Leon Kopecký, Günther Leissler, Laurenz Schwitzer, Manuela Zimmermann, Georgiana Bădescu, Mădălina Neagu and Miloš Laković are promoted to contract partners, and at counsel level, Dominik Hofmarcher and Clemens Rainer have moved up in the ranks.