Firm Profile > Reff & Associates SCA > Bucharest, Romania

Real estate and construction Tier 1

The ‘excellent professionals’ at Reff & Associates SCA are ‘flexible, equitable and innovative in identifying solutions’. Practice head Irina Dimitriu and Alexandru Reff, who ‘stands out through his care for clients and commercial approach', advised IKEA on general contractor agreements for its new 67,065sqm store. The duo also acted for MAS Real Estate on the €95m acquisition, by way of a share deal, of the Militari shopping centre. The team covers a broad range of matters and is active in the office, retail, residential, logistics and agribusiness sectors.

Banking and finance Tier 2

Reff & Associates SCA's team is praised for its ‘knowledge and skills combined with flexibility and a win-win mentality’. It advises on all areas of transactional banking and has particular expertise with NPLs. Andrei Burz-Pinzaru heads the practice. Burz-Pinzaru and Alina Tihan recently assisted Green Oil and Lubes in relation to the structuring, negotiating and drafting of a secured financing agreement. A further highlight saw the team advise a bank on the winding down of its Romanian branch. Burz-Pinzaru and managing associate Andreea Serban ‘are very good professionals’ who adopt ‘a very human approach’.

Employment Tier 2

Florentina Munteanu heads the group at Reff & Associates SCA, which possesses specialist knowledge of the IT, pharmaceuticals, retail, automotive, transportation and real estate sectors. It is experienced in handling hires, dismissals and collective negotiations as well as employee leasing, stock option plans and employee transfers in the context of M&A transactions. Recent highlights also include advising on changes to employee tax legislation and work-from-home policies.

Commercial, corporate and M&A Tier 3

Reff & Associates SCA is well regarded for its work in the manufacturing, retail, health, energy and transportation industries. Its recent case load features a number of cross-border mandates including advising UK-listed investment fund Argo Group on the contemplated acquisition of the Romanian branch of Israel-based Leumi Bank. The practice is headed by Georgiana Singurel.

EU and competition Tier 3

Reff & Associates SCA's ‘dedicated’ and ‘very professional’ team is led by Florentina Munteanu, who recently provided state aid advice to the Ministry of Communication and Information Society in respect of a proposed share capital increase in Poșta Română. The team also handles merger clearances, compliance programmes and Competition Council investigations. Senior associate Oana Busca is praised for her ‘professional, focused’ approach and ‘in-depth’ understanding.

PPP and procurement Tier 3

Reff & Associates SCA is reputed for handling public sector projects and is assisting the Bucharest municipality with the tender procedure for work contracts for 12 public parking areas. The European Investment Bank – Jaspers (Joint Assistance in Supporting Projects in European Regions) receives advice on an intermodal terminals development project. Georgiana Singurel leads the practice.

TMT Tier 3

Reff & Associates SCA focuses on data protection and the recent caseload contains a number of GDPR-related instructions; high-profile names such as ING Bank, IKEA Romania and Superbet have sought the team’s expertise on the new regulation. Georgiana Singurel heads the practice, which is also adept at e-commerce and digital media, technology and outsourcing, electronic signature and software-related matters.

Client Testimonials

Financial Services Industry
CLIENT: Nic Balaceanu (CEO)
COMPANY/FIRM: Lendrise Marketplace S.R.L., start-up that manages the ScoreRise mobile app
TESTIMONIAL: As a fintech company, we have had to hire Reff & Associates firm many times to help us with our legal, compliance and lately GDPR matters in Romania. I come back to Andrei Burz-Panzaru and his team time and time again, because I trust him and his colleagues. They are all efficient and effective with significant knowledge in the financial banking arena of Central and Eastern Europe. I respect Andrei’s strategic and fair mind, and appreciate his follow through and quick turnaround. I highly recommend Andrei Burz-Panzaru, Lorena Rosia, Andreea Bira and Silvia Axinescu for their legal and compliance advisory services along the years.

CLIENT: Mihaela B?ciu (General Manager)
COMPANY/FIRM: S.S.I.F. Tradeville S.A., one of the largest investment firm in Romania
TESTIMONIAL: We have been working with Reff and Associates for more than 4 years on various issues (litigation, project development, compliance assurance and general advisory tasks) and our experience has been, without fail, excellent. From the quality of work to response times, from access to top expertise to level of involvement we feel that Reff and Associates has been a great choice for us on a wide array of projects. Our overall experience was that of a sound legal partner for a dynamic and innovative business.

CLIENT: Magdalena Cristescu (Chief Legal & Compliance Officer)
COMPANY/FIRM: Intrum Romania S.A., the undisputed market leader of Europe having a wide-ranging expertise in debt collection services and credit management
TESTIMONIAL: We have cooperated with Reff and Associates in several situations of high importance to our company. We value very much the swift communication, the deep and detailed level of understanding of our business, the flexibility and availability of dedicated teams and the tailor-made solutions to the issues we have been asking for consultancy. We will certainly use their professional services in the future and recommend this consultant to interested people as well!

CLIENT: Mihai Flucus (Managing Director)
COMPANY/FIRM: InvestCapital LTD, securitization vehicle part of Kruk Group
TESTIMONIAL: During our multiple receivable assignment opportunities, we had the pleasure of cooperating with Reff &Associates while they were acting as a legal counsel, both buy-side and sell-side. The stand-out trait of this company and its professional team is represented by a knowledgeable, ethical and efficient approach towards the client needs and objectives. In addition, we have always encountered as part of their team, well-prepared professionals who are ready to offer the requested technical guidance, whilst proactively tackling connected elements.

CLIENT: Mihai Rotaru (Deputy Head of Legal)
COMPANY/FIRM: Banca Transilvania, the largest bank in Romania
TESTIMONIAL: Reff & Asociatii’s team is a reliable partner in any type of banking and financing transactions, that manages to identify, in any context, the most suitable win – win legal solutions for all the involved parties. The high quality of their services is based on team members’ sophisticated skills and expertise and also, on their perpetual inclination toward innovative tools and effective approaches.

CLIENT: Mircea Albu (Workout Department Manager)
COMPANY/FIRM: Patria Bank S.A., Bucharest-based Romanian bank
TESTIMONIAL: Reff & Associates is definitely the go-to law firm for large scale, complex NPL portfolio deals and has one of the strongest and most knowledgeable team on the Romanian market. Andrei Burz-Pinzaru has a business oriented and pragmatic approach, he is able to take the right stance between appropriate advising and recognizing that commercial contracts sometimes require reaching decisions quicker but also focusing on considered risks. Andreea Serban is excellent at issue spotting and relationship management, she is pro-active and has a deep knowledge of the NPL market. It was a pleasure working with both of them and we would certainly recommend them to any of our contacts.

CLIENT: Alina Sitaru
COMPANY/FIRM: KRUK Romania, part of Kruk Group, one of the largest debt management companies in the Central Europe
TESTIMONIAL: This firm is a true market leader in NPL projects in Romania. I have been working with Reff & Associates, particularly with Andrei Burz-Pinzaru and Andreea Serban, for over three years now on acquisitions of NPL portfolios. I rely heavily on both of them to help us easily navigate legal challenges in each deal and advise us on business sensitive issues. Andrei is our trusted advisor and an innovator, he always provides valuable insights and keeps us ahead of opportunities and market trends. Andreea is tenacious, technically brilliant, friendly and personable and very responsive. She is an excellent negotiator, balanced and fair, and always finds a compromise solution acceptable to both parties. I really value in our long-term collaboration the fact that they constantly keep our goals at the heart of their approach and they also project a unified front with us (each time we act like a single team).

Mergers & Acquisitions Practice
CLIENT: Emile Poot (Head of Corporate Development | Head of Tax)
COMPANY/FIRM: Damen Shipyards Group, the largest shipbuilding group in the Netherlands and one of the leading builders of workboats and fast craft worldwide
TESTIMONIAL: Please allow me to share some words on what makes Georgiana Singurel a great M&A lawyer and why we like to work with her.       

                  

The primary one, obviously, is the level of trust and transparency. This makes it very easy to work together and to communicate on a very open and transparent way. There is a high degree of mutual trust.

The second reason is Georgiana’s level of experience. I know this is an obvious reason, but it is a privilege to work with a lawyer who knows what’s happening in terms of best practices and current market conditions. Each (phase of a) deal has its own set of unique circumstances and challenges and it is therefore important to have somebody like Georgiana who’s seen a lot of deals and has the practical experience to deal with any problem that may come up. 

Third, Georgiana and her colleagues have built-up quote some industry knowledge. As our industry has its unique legal considerations, having such knowledge is critical in getting the legal protection we need in the SPA and other deal-related legal agreements. There are a lot of subtleties among transactions and having the right knowledge and experience within our industry often proves to be a distinctive quality in finding such subtleties.

Fourthly, Georgiana and her colleagues know about the Damen business. Depending the type of project and specific phase of a project, Georgiana knows when to position herself as “the creator of paper work”, or as one of the key strategic advisors on a deal. Naturally, we prefer the latter if possible, however there are pre-cooked parts of transactions where time and speed are of the essence and the role of an M&A lawyer is limited to merely commodity work. This is something Georgiana very well understands and can easily adapt to.

The fifth element I would add is a high degree of pragmatism, especially required for our business / company. We’re looking for a lawyer with a deal maker mindset and one that doesn’t waste our time on items that are less relevant for us. For this, again, the Damen experience and industry knowledge are very important. In a family company like Damen, deals are always very personal and individual, and so are the objectives. Georgiana knows what to push for. She listens, and demonstrated over and over again that she knows what is most and least important to Damen.

Last but not least, Georgiana surrounds herself with a strong team. As M&A is typically not a one-(wo)man show, Georgiana has a capable and quality team working alongside them. And, also important, she knows how to strike the right balance between what she does herself and what she delegates to associates.

CLIENT: Sebastian Torneanu (Finance and Administration Manager)
COMPANY/FIRM: Grupo Antolin Spain, one of the key players in the automotive sector
TESTIMONIAL: We are working with Reff & Associates team since many years, being our core partner in all matters regarding due diligence, transactional and legal assistance. Their strong professional knowledge and skills, but also their attitude and dedication always add a substantial value to our projects. The business responsible Georgiana Singurel has always a proactive attitude and support the cooperation in all matters not only with Reff & Associates activity but also all the relationship management between our company and the whole Deloitte structure in Romania and abroad.

CLIENT: Ahmet Ahmedov
COMPANY/FIRM: Trakya Cam Sanayii A.S, one of the biggest flat glass producer in Europe
TESTIMONIAL: I firstly met Reff & associates in 2012, when our group was seeking for legal assistance in the taking over of a Romanian company. It was such an impressive experience, that we continued to work with them ever since, on all our projects – which included transaction assistance, day-to-day advice on commercial or employment aspects, as well as consultations on all various complex matters we encountered in our activity. It is a cooperation that both my organization and myself values and trusts. During all these years, the main point of contact was Georgiana Singurel, partner of the M&A legal team, whom I would describe as a great dealmaker in negotiations and a very focused and constructive advisor in all our interactions. I highly praise her expertise and know that – after all these years – she intuitively anticipates our movements in negotiations and the real key points for our organization. Hence, it is a high comfort for me to work with her and I would recommend her to anyone looking for a knowledgeable and dedicated counsel.

Real Estate Practice
CLIENT: Ovidiu Sandor
COMPANY/FIRM: Mulberry Group, real estate development firm
TESTIMONIAL: The real-estate team at Reff, led by Irina Dumitriu, has been involved in the most significant transactions of our group of companies. They have proven to be a very competent team, with the ability to focus and deliver, sometimes under great time pressure. Besides a deep understanding of the legal aspects and a broad experience in the market, they are always aware of the commercial interests of the client and act in a way that properly balances the management of the legal risks with these commercial goals.

CLIENT: Robert Ionita
COMPANY/FIRM: NEPI Rockcastle plc, commercial property investor and developer
TESTIMONIAL: Reff & Associates represents more than just a law firm to us. They are a reliable and trustworthy business partner who we can always rely upon. Apart from well-documented and thorough legal advice provided, the practical experience and commercial oriented approach of Reff & Associates team brings added value to our projects. Irina Dimitriu’s full dedication, in particular, played a crucial role in moving forward with our recent deals.

CLIENT: Bogdana Constantinescu (Head of Legal)
COMPANY/FIRM: Arcade
TESTIMONIAL: One of the most professional team on the market with extensive experience and high technical skills. Collaboration with the real estate team is all the more enjoyable and valuable because they have a very good client approach and attention for business details. They were always prompt in delivering the services, persistent in sustaining their opinions when necessary but also flexible in accommodating various transactions structures and commercial agreements.

CLIENT: Head of Legal of one of the largest retailers in Romania
COMPANY/FIRM: confidential
TESTIMONIAL: I was particularly impressed with the Reff & Associates team’s pragmatic and business oriented approach, focused on finding balanced solutions. We especially valued their sensible legal input, business orientated, aimed at mitigating risks and closing the deal. Their solid legal knowledge, combined with an excellent understanding of the market, makes them one of the most reliable collaborators on the market and also trustful partners.

Employment Practice
CLIENT: Antoaneta Vacaroiu (Legal Consultant Romania & Moldova)
COMPANY/FIRM: Avon Cosmetics (Romania), the fifth-largest beauty company and the second largest direct-selling enterprise in the world
TESTIMONIAL: The employment team of Reff & Associates, led by Florentina Munteanu, is very professional and responsible. It are ready to answer your questions any time in formal and informal ways at the same level of professionalism and accuracy. The team is aspirational and highly ethical. We truly value the timely, sound and objective advice and the day-to-day involvement provided in every step of our activity. We would definitely recommend and look forward to work with them. 

Competition Practice
CLIENT: Vlad Tigoiu (Chief Strategy Officer)
COMPANY/FIRM: Fildas Catena Group, the third largest retailer on the Romanian pharmaceutical market
TESTIMONIAL: We have a long-standing relationship with Reff & Associates, working with them for many years, especially with the competition law team led by Florentina Munteanu. We are particularly impressed by how reliable and client-oriented they are, and we felt on many occasions that they went the extra-mile for us to find proper solutions to complex issues. We are truly grateful for their effort and collaboration. 

Diversity/Community

At Deloitte, we understand that our diversity is a key driver of our effectiveness in the market. That’s why, in FY2018, we re-committed to progressing our already strong culture of inclusion and increasing gender representation at all levels across Deloitte.

Our deeply embedded, ongoing initiatives to promote diversity and inclusion at Deloitte have proven effective.

• Deloitte member firms have adopted progressively advanced talent initiatives—including workplace flexibility, and family leave and return-to-work policies—that attract women, parents and employees of all generations.
• Many Deloitte member firms offer their people opportunities through global business resource groups (BRGs) to connect and build networks with others who share affinity indicators such as gender, race, religion and sexual orientation. Some member firms have also established councils that bridge gaps between single-identity workplace groups.
• Deloitte leaders in Australia, Canada, UK, US and other countries have been recognized externally for inclusion efforts and/or serve on boards of organizations that promote inclusion.
• Globally, Deloitte creates a safe work environment for all people through its strong policies against misconduct, inappropriate behavior or sexual harassment.

These are some of the significant reasons why Deloitte is recognized as a desirable workplace by organizations that include 
Great Place to Work, LinkedIn, National Association of Female Executives (US), The Times (UK), Glassdoor.

While we are proud of the accolades we have earned and the policies and programs we have implemented, we understand that we must change as the market and world around us change. To lead in the areas of inclusion and diversity, we must achieve more. That is why we are focusing many of our current efforts on gender representation and why we will continue to seek and hire qualified women, provide ample developmental and promotional and leadership opportunities, and remain committed to fair pay for all.