Firm Profile > Popovici Nitu Stoica & Asociatii > Bucharest, Romania
Popovici Nitu Stoica & Asociatii Offices
239 CALEA DOROBANTI
6TH FLOOR, 1ST DISTRICT
Popovici Nitu Stoica & Asociatii > The Legal 500 Rankings
Popovici Nitu Stoica & Asociatii has one of the top transactional practices in the market and is regularly favoured by major private equity funds, foreign investors and corporates. Recently the firm was involved in several high value corporate real estate transactions, a well as significant deals in the building materials, fund management, and chemicals' sectors. The firm's partners are often involved on the country's largest deals, and Florian Niţu, Bogdan Stoica and Silviu Stoica have all established extremely good reputations. Irina Ivanciu has also developed a good name, and has strong links to the French market.
Florian Nițu; Bogdan Stoica; Silviu Stoica
‘PNSA has a vast and thorough knowledge of transaction advisory in Romania, given by the large number of deals they have worked on in the past 15 years. Moreover, they combine the technical knowledge with a very pragmatic and result oriented approach during negotiation, being a very valuable member of the negotiation team throughout the entire process.’
‘Bogdan Stoica and Dragos Iamandi were very diligent, and provided lots of insights and explanations to us in order to make sure that the transaction goes smooth and without unnecessary complications and hurdles. Several times they took initiative to clarify with the counterpart lawyers conditions and clauses that were not acceptable by us and proposed solutions and restructured and reworked documents proposed by the other party until we reached mutual agreement. Their flexibility in giving extra time and personal involvement helped getting the deal closed in time.’
BRD Société Générale
Fondul Proprietatea/Franklin Templeton Investment Management
US Ferro Corporation
Continental Automotive GmbH
Dispute resolution Tier 1
Popovici Nitu Stoica & Asociatii is a leading firm, both for domestic litigation and international arbitration. The team has a strong track record in complex corporate disputes, including shareholder claims and issues with the Securities Commission. Cases involving public procurement contracts and concession agreements also feature prominently. Its expertise in specialised areas such as antitrust, real estate litigation, labour, tax and IP is also strong. The team is jointly led by highly rated litigators Ciprian Donțu, Ilinca Ștefănescu-Goangă and Florian Niţu, who is especially active on the international arbitration front. Partners Raluca Petrescu and Vlad Neacșu are also recommended.
Ciprian Dontu; Ilinca Stefanescu-Goanga; Florian Nitu
Other key lawyers:
Raluca Petrescu; Vlad Neacsu
‘A very professional team with huge juridical knowledge and capacity for effort. The team was very collaborative and explanatory in relation to the client, and introduced a very constructive approach in solving the dispute. Florian Nitu is a specialist and know all the aspects that are relevant and important to the cause. Also Alexandru Stan was very involved in the discussions and explained all the details necessary in the matter.’
‘A friendly team. Has the ability to understand the case and avoid getting in conflicts without trying all resources. The approach to the case was by logical and commercial thinking first.’
Fondul Proprietatea/ Franklin Templeton
Rabo Farm (Rabobank Group)
PPP and procurement Tier 1
Popovici Nitu Stoica & Asociatii has excellent expertise across a wide range of project types, both on the contentious and non-contentious side. Road and rail improvement projects and now infrastructure both feature high on the agenda, including in the utilities, water and waste management space. The team is well versed in major IT public procurements, representing an impressive mix of domestic and international software developers and IT companies. Florian Niţu and Alexandru Ambrozie are two of the firm's most active partners, while associates such as Ramona Pentilescu are also held in high regard.
Florian Nitu; Alexandru Ambrozie
Other key lawyers:
Real estate and construction Tier 1
Popovici Nitu Stoica & Asociatii is regularly instructed on the country's more complex real estate transactions and development projects. Clients include land owners, developers, investment funds, lenders and strategic investors. The firm's strong corporate team gives it an edge on the many deals done under a corporate structure. The past year saw it involved in several significant land acquisition and development projects, including residential, retail, mixed-use and industrial. Florian Niţu heads the transactional side, with Valentin Creața leading the development group. Other key partners include Bogdan Stoica, Ioana Șampek and Cristian Popescu, who is experienced in farm land deals.
Florian Nițu; Valentin Creata;
Other key lawyers:
Bogdan Stoica; Cristian Popescu; Ioana Sampek
‘ High standards of professionalism and their approach is a business oriented one, not only a legal view.’
‘A very well set organization, with charismatic leaders .’
Auchan Group (Auchan Romania, Immochan, Leroy Merlin)
GLL Real Estate Partners
P3 Logistic Parks
Restructuring and insolvency Tier 1
Popovici Nitu Stoica & Asociatii is strong on both the contentious and non-contentious side of the restructuring piece. The team is led by well-regarded litigation head Ciprian Donțu, and regularly represents creditor and debtor clients in related litigation and arbitrations. The firm's market leading corporate finance arm is well equipped to handle complex group restructurings, and managing partner Florian Niţu has good experience assisting on related issues, including advice to investors on distressed asset sales and acquisitions. Ilinca Ștefănescu-Goangă and Valentin Creața are respectively involved on the disputes and advisory sides.
Other key lawyers:
Florian Nițu; Ilinca Ștefănescu-Goangă; Valentin Creața
KBC Bank NV and KBC Bank Ireland
Lincoln Electric (Ductil SA)
ProSiebenSat.1 Media SE
Societe Generale Group
Capital markets Tier 2Popovici Nitu Stoica & Asociatii has a broad client base which includes several major listed investment funds. In this respect, the firm is especially active on the regulatory side, and offers strong support on transactional and litigation issues. The team also has good experience of advising on equity listings. Practice co-heads Alexandru Ambrozie and Bogdan Stoica share over four decades experience in the market.
Bogdan Stoica; Alexandru Ambrozie
Franklin Templeton Investment Management Limited United Kingdom
Revaho Beheer BV
Employment Tier 2
Popovici Nitu Stoica & Asociatii features a versatile practice offering standalone advice as well as employment support on corporate and restructuring mandates. This ranges from day-to-day matters, through to related litigation, health and safety, tax and white-collar crime issues. Vlad Neacșu leads the well regarded team and has good experience in union negotiations, strike management, business transfers and collective dismissals. Specialist associate co-head, Ioana Cazacu, is also highly rated by clients.
Vlad Neacşu; Ioana Cazacu
‘This practice is unique due to its professionalism and promptness, which they have shown throughout the collaboration, compared to other companies. Adaptability also means being flexible to the working habits and personalities of our business.’
‘The team is very efficient and skilled. Ioana Cazacu is a very smart lawyer. She gives advice straight to the point, she is reliable and very helpful. Moreover, she is very transparent regarding the fees and the estimates she provides are both reasonable, and complied with.’
Albalact (Lactalis Group)
Auchan & Leroy Merlin
Ipsos Interactive Services
US Corporation Ferro
BRD Groupe Société Générale
Energy and natural resources Tier 2
Popovici Nitu Stoica & Asociatii offers an impressively deep and broad range of expertise in conventional and renewable energy. The firm was involved in several high-profile disputes with state and the energy regulator on behalf of clients. The team has a particularly strong practice in the nuclear space and is a fixture on such projects. Florian Niţu has a strong focus on renewable and nuclear energy, Vlad Neacșu is active on the infrastructure side, while Ciprian Donțu handles disputes with the regulators.
Florian Nitu; Vlad Neacşu
Other key lawyers:
Zhejiang New Energy Investment Co Ltd.
Hyundai Engineering & Construction
Hidroconstructia & Hidroelectrica
Electricite de France (EDF)
Franklin Templeton Investment Management
Tax Tier 2
Popovici Nitu Stoica & Asociatii advises on the full mix of direct and indirect tax matters. Recently, the group has provided strong tax planning and due diligence support on high-profile commercial projects, including M&A deals, real estate transactions and group restructurings. The lawyers have good experience assisting with tax audits and related challenges before the courts. Practice head Mihaela Pohaci is a hugely experienced certified tax adviser, while co-head Alexandru Ambrozie adds weight on related white-collar crime issues.
TMT Tier 2
Popovici Nitu Stoica & Asociatii has an excellent reputation for transactional matters, but is also highly experienced on broader regulatory and commercial issues. The team has long-standing experience of telecoms and IT and represents a mix of cloud and mobile network service providers. This is complemented by good expertise in connected areas such as public procurement, data protection and dispute resolution. Ernest-Virgil Popovici has a good track record advising telecoms companies, while corporate partner Silviu Stoica regularly advises strategic and private equity investors on related transactions. Managing partner Florian Niţu is also active in this area.
Ernest-Virgil Popovici; Florian Nițu; Silviu Stoica
GTS Telecom, a company owned by Deutsche Telekom
VIA SMS Group
SAP Romania and SAP America
TMT: gambling law Tier 2
Popovici Nitu Stoica & Asociatii is popular with several leading companies operating in and servicing the online and offline gambling industry. The firm's broad reach ensures a full service offering that goes beyond regulatory compliance and licensing approvals. Corporate, M&A, real estate, employment, tax and IP have all featured heavily on the agenda in the past year, as has guidance throughout the COVID-19 pandemic. Bogdan Stoica leads the well-regarded team, which includes highly-rated associate Claudia Salomia.
Other key lawyers:
‘We have worked with PNSA team for some years now and, given that in Romania the legal specialists in gambling industry are not so many, we could say that they are among the best legal teams on the market.’
‘First of all, they do understand our business and this is really important as gambling is so much different from a lot of other industries. Secondly, they are dedicated and problem solving lawyers, always imaginative and, in the same time, very precise as regards their advise. Compared to other lawyers we have worked with, they are also very efficient cost wise.’
‘Bogdan Stoica is the key person in PNSA on the gambling industry, no matter whether we are talking about affiliates business or pure gambling. He has an in-depth knowledge, not only on the local legal framework on gambling industry but also in other jurisdictions. He is accompanied by Claudia Salomia who is very good young lawyer.’
Owners of Extremoo Group
Stargames Corporation Australia
White-collar crime Tier 2
Popovici Nitu Stoica & Asociatii is a reliable choice for white-collar compliance and defence work, and fields several criminal law experts. The firm has had success defending clients against several sensitive criminal investigations, particularly in relation to IP infringement, public tender manipulation, tax evasion, bribery, and EU funds fraud. Several of these have had a significant cross-border component, where the team worked closely with leading international law firms. Alexandru Ambrozie heads the practice, with strong support from experienced litigation associate Alexandru Nicolae.
Other key lawyers:
Banking and finance Tier 3
Popovici Nitu Stoica & Asociatii acts for a variety of domestic and international financial institutions, as well as online banks and payment system providers. Recently the team provided regulatory and transactional support on the launch of several new banking products and fintech ventures. Practice head Alexandru Ambrozie is experienced across several areas, including asset-based finance, and real estate and lease financings.
Bogdan Stoica; Alexandru Ambrozie
BRD Société Générale
RI-GD Investments DAC
Libra Internet Bank
Via SMS Group
KIWI Finance (first and largest credit broker in Romania)
The Governor and Company of the Bank of Ireland
Warehouses De Pauw Romania
EU and competition Tier 3
Popovici Nitu Stoica & Asociatii has a broad array of expertise in EU, competition and antitrust matters. In addition to an active merger clearance practice, the firm's lawyers regularly appear before the Competition Council and the courts, either in responding to investigations or challenging fines. Strong sectoral expertise in heavily regulated industries such as pharmaceuticals adds extra layers of depth. Practice head Mihaela Ion has significant experience in the market.
Intellectual property Tier 3
Popovici Nitu Stoica & Asociatii is especially noted for its experience advising software companies, as well as clients in the media, sports, technology and manufacturing sectors. Software related work includes domain name protection, development, licensing, registrations and related corporate advice. The practice is also active on the litigation front, including trade mark protection disputes and copyright infringement proceedings. Cristian Popescu leads the well-regarded team, which works closely with other key departments, including corporate and dispute resolution.
Pietta Glass Working
Popovici Nitu Stoica & Asociatii > Firm Profile
The firm: Popovici Nitu Stoica & Asociatii is a leading Romanian independent law firm. Established in 1995, as one of the first incorporated partnerships, the firm brings together strong local resources, with exceptional credentials, outstanding records and distinguished careers in law, business and academia. The Bucharest office today has 70 qualified lawyers and tax advisors.
Focusing traditionally on the private sector and foreign investment projects, Popovici Nitu Stoica & Asociatii is acknowledged by the vast majority of observers and peers as “the transactional law firm” among the market leaders. The firm has constantly been involved in the majority of the M&A transactions in Romania from various industries such as energy, healthcare, retail, IT, financial services, telecoms and real estate.
Main areas of practice
Mergers and acquisitions: 3 partners, 24 fee-earners based in Romania
M&A expertise is central to the firm’s practice. It brings together and integrates the expertise of other acknowledged practice groups within the firm, such as capital markets, tax, competition and antitrust and litigation.
Popovici Nitu Stoica & Asociatii is involved in some of the largest transactions of each year, an aspect also usually acknowledged by the Romanian Financial Newspaper (Ziarul Financiar) through its yearly awards: largest office real estate transaction outside Bucharest in 2019; largest transaction in Retail in 2019; largest transaction in the Medical Services sector in 2019; largest transaction in Real Estate in 2018, largest transaction in the building materials sector in 2018, largest transaction in Real Estate in 2016, largest transactions in Retail in 2015, largest transactions in IT and FMCG in 2014; largest IT&C transaction in 2013, largest AGRO/FMCG transaction in 2013, largest AGRO/FMCG transaction in 2011, largest transaction in the financial industry in 2011, largest IT&C transaction in 2010, largest transaction in healthcare in 2009 and largest transaction in energy in 2009.
- Orange on the acquisition of a majority stake in Telekom Romania Communications.
- Burda Group on the sale of its business in Romania.
- Auchan on the takeover of the entire chain of OMV Petrom petrol filling stations in view of converting them into MyAuchan proximity stores and their further non-petrol retail operation.
- Leahu Dental Clinics Network on the acquisition of CORIDENT PRO Clinic from Sibiu.
- WDP on the acquisition of three major logistics parks in Romania: Aquila Logistics Centre – Cluj, Dunca Logistics Centre – Timiș and Craiova Logistics Centre – Dolj.
- Hexagon Group on the sale of three new high-quality class A office building projects in Cluj-Napoca, i.e. Advancity Business Center, Cube Office and Vivido Business Center, in a transaction estimated at €30 million.
- Oresa on: (i) the sale of Somaco, one of the leading precast concrete producers in Romania, to LafargeHolcim; and (ii) the sale of RTC Proffice Experience, a leading stationery and office supplies company, to Altex group.
Key clients: Akzo Nobel, Ameropa, Auchan, Burda International, Certinvest, DB Schenker, Dedeman, Dnata Group/Emirates, Medicover, NTT Data, Orange, Oresa, Philips, Property Fund, SIVECO, The voestalpine Group, Xella
Contact: Florian Nitu / Bogdan C. Stoica / Silviu Stoica
E-mail: firstname.lastname@example.org, email@example.com, firstname.lastname@example.org
Banking and finance: 2 partners, 4 fee-earners based in Romania
- Warehouses De Pauw Romania on €150 million facilities granted by the Bank for European Reconstruction and Development to the group for financing the development of sustainable certified green logistic centres in Romania.
- Libra Internet Bank on the partnership with Monese for the launch of Romanian IBAN accounts in RON.
- IBM on the launch of a blockchain-based payment system.
- BRD Groupe Société Générale on its investment in CIT One.
- BLOM Bank France SA Romania Branch on a EUR 5m financing granted to a real estate developer from Brasov in order to finance the development of residential projects.
Key clients: Ameropa, Binance, BLOM Bank, BRD Société Générale, Deutsche Leasing, KBC Bank, Libra Internet Bank, Oresa, WDP
Contact: Alexandru Ambrozie / Bogdan C. Stoica
E-mail: email@example.com / firstname.lastname@example.org
Competition and antitrust: 1 partner, 5 fee-earners based in Romania
- Auchan in merger control proceedings before the Competition Council related to My Auchan proximity stores operating in Petrom gas stations.
- Orange in relation to the network sharing agreement concluded with another telecom company.
- Albalact in three investigations and a preliminary examination conducted by the Competition Council.
- Deutsche Leasing Romania in the Competition Council investigation on the financial leasing services market.
Key clients: Akzo Nobel, Albalact, Ameropa, Auchan, Dedeman, Dnata Group/Emirates, Farmexim, Hewlett-Packard, Medicover, Medtronic, Orange, Oresa, Property Fund, Robert Bosch, SIVECO
Contact: Mihaela Ion
Real estate: 5 partners, 13 fee-earners based in Romania
- Estoria Group on the development and sale of a big-box retail facility, including a commercial gallery, to Leroy Merlin, Kaufland and Lidl, in a series of transactions.
- VGP Group in connection with the development of several VGP Parks projects in Romania, consisting in a chain of logistics and warehouses.
- GLL Real Estate on the leasing and asset legal management activities related to the Bucharest landmark Office Building Projects – Charles de Gaulle Plaza & Victoriei 139, consisting in approximate 30,000 sqm leasing areas under operation.
- Dedeman on: (i) the acquisition of The Office; (ii) the acquisition of The Bridge; and (iii) the joint venture with Element Invest for the development of Eli Park 1.
Key clients: Auchan Group, Cross City & Estoria, Dedeman, DSV Solutions, GLL, Ipso, Knight Frank, Lactalis, P3 Logistic Parks, River Development, Uniqa Real Estate, WDP
Contact: Florian Nițu / Valentin Creața / Ioana Șampek / Bogdan. C Stoica / Irina Ivanciu
E-mail: email@example.com / firstname.lastname@example.org / email@example.com / firstname.lastname@example.org / email@example.com
Intellectual property: 2 partners, 3 fee-earners based in Romania
- WTA world number 1 tennis player Simona Halep on the negotiation of contracts with sponsors, TVs, equipment producers and, generally, on all her IP related matters.
Energy and natural resources: 2 partners, 4 fee-earners based in Romania
- Several subsidiaries of Enel on the annulment of various orders issued by the Romanian Energy Regulatory Authority that sets the regulated rate of return applied for the approval of the tariffs for the electricity distribution service provided by the concessionaire distribution operators.
- Property Fund, as significant shareholder in Hidroelectrica, on the annulment of various orders regarding regulated energy prices and quantities for electricity sold by producers on the basis of regulated contracts, issued by the Romanian Energy Regulatory Authority.
- Zhejiang New Energy Investment Co Ltd. on 5 solar energy projects under the New Solar Energy Projects.
|Mrs Ioana Șampek||Partner||View Profile|
|Mrs Ilinca Ștefănescu-Goangă||Partner||View Profile|
|Mr Alexandru Ambrozie||Partner||View Profile|
|Mrs Ioana Cazacu||Managing Associate||View Profile|
|Mr Valentin Creața||Partner||View Profile|
|Mr Ciprian Donțu||Partner||View Profile|
|Mrs Luana Dragomirescu||Managing Associate||View Profile|
|Ms Mihaela Ion||Partner||View Profile|
|Ms Irina Ivanciu||Partner||View Profile|
|Ms Ela Marin||Managing Associate||View Profile|
|Mr Vlad Neacșu||Partner||View Profile|
|Mr Florian Nițu||Managing Partner||View Profile|
|Mrs Raluca Petrescu||Partner||View Profile|
|Mr Ernest-Virgil Popovici||Senior Partner||View Profile|
|Mr Bogdan C. Stoica||Deputy Managing Partner||View Profile|
|Mr Silviu Stoica||Partner||View Profile|
|Ms Anca Irena Tudorie||Partner||View Profile|
Staff FiguresNumber of partners : 15 Number of lawyers : 70
LanguagesEnglish French Italian Romanian
Press Releases7th December 2020
PNSA advised Dr. Leahu Dental Clinics Network on the acquisition of CORIDENT PRO Clinic from Sibiu.
24th November 2020
PNSA advised Orange Group on the acquisition of a 54% controlling stake in Telekom Romania Communication, one of Romania's leading fixed telecom operators.
22nd October 2020 POPOVICI NIȚU STOICA & ASOCIAȚII is proud to announce that Raluca Rusu has been promoted to partnership in PNSA Tax, effective from 1 October 2020.
22nd October 2020 Popovici Nițu Stoica & Asociații advised BRD - Groupe Société Générale in the recently closed transaction by which BRD, BCR and Raiffeisen Bank Romania became equal shareholders in CIT One, one of the largest Romanian companies specialised in the transport, processing and storage of cash and other valuables. The transaction has previously been cleared by the Competition Council.
22nd October 2020 On October 2, 2020, the High Court of Cassation and Justice dismissed the appeal of the Agency for Payments and Intervention for Agriculture (APIA) against the decision of the Bucharest Court of Appeal, confirming that APIA subsidies granted to farmers can be assigned and enforced.
24th September 2020 Popovici Nițu Stoica & Asociații is pleased to announce that Andrada Pleș joins PNSA Tax as Manager, effective as of September 15, 2020.
23rd September 2020 PNSA and PNSA Tax advised Burda Group on the sale of its business in Romania.
23rd September 2020 Popovici Niţu Stoica & Asociaţii advised WDP, one of the leading Belgian developers and owners of logistics and warehousing in the market, on the recent acquisition of three major logistics parks in Romania:
23rd September 2020 PNSA advised Auchan Retail Romania in respect of the takeover of the entire chain (more than 400 units) of OMV Petrom petrol filling stations in view of converting them into MyAuchan proximity stores and their further non-petrol retail operation. This is the biggest project ever of a Romanian petrol retailer to outsource the non-petrol products retail activity in favor of a top retail player on the Romanian market.
23rd September 2020 PNSA advised Belgian developer VGP Parks on the acquisition of real estate assets with a total area of approximately 40 ha in Arad. This is considered by specialists the largest deal in the West part of Romania in 2020.
29th April 2020 In the middle of a crisis such the current one, companies face variousunforeseeable challenges. And although at this moment the attention is directed towards overcoming this situation, one may not neglect how this outcome is achieved, especially considering that once the “storm”is over, misconducts tend to come to light and regulators will almost sure enforce the relevant regulations.
29th April 2020 With a fewnotable exceptions, all companies are struggling these days. For some itis about organizing general business survival, for some it is about dealingwith the short-term cash-flow management, some are restructuring their businessand resetting the employment scheme, while for some the only option was tofreeze production and apply for various public support measures.
24th March 2020 Introduction As the negative consequences of COVID-19 continue to expand, companies are facing various demanding challenges, one of them being related to the organisation of the Annual General Meetings of the Shareholders (“AGMS”).
24th March 2020 1. Introductory aspects
Since its outbreak in November, 2019 in China, COVID-19 has rapidly spread across Europe, the general opinion being that the peak is yet to come. The aggressive rate of spreading of COVID-19 has marked the financial markets, which now indicate a decrease of the earnings expectations.
24th March 2020 PNSA COVID-19 Legal Response Team
24th March 2020 The COVID-19 pandemic has shaken the globe and virtually all sectors have had to adapt to an increasingly contact-free environment. The world of arbitration is no exception, and in the past weeks we have seen a series of adjustments and solutions targeted at both safeguarding the health of participants and preserving the continuity of the process.
24th March 2020 First one: Coronavirus & competition – any potential link?
19th July 2019
OPTIblue and Klarmann to be taken over by Innova Capital
Popovici Niţu Stoica & Asociaţii advised Optical Network, the leading retailer and an important distributor on the Romanian optical market, on its sale to private equity fund Innova Capital.
19th July 2019
PNSA advised the Swedish investment fund Oresa on the sale of Somaco, one of the leading precast concrete producers in Romania, to LafargeHolcim.
19th July 2019
PNSA advised its long-standing client Ameropa Group, worldwide leading Swiss grain and fertilizer trader, on the €324 million multicurrency revolving financing granted by a syndicate of banks composed of Banca Comerciala Romana, Raiffeisen Bank, ING Bank N.V. Amsterdam – Bucharest Branch and UniCredit Bank.
15th July 2019
PNSA advised RI-GD Investments DAC, as lender, on the accession of two Romanian subsidiaries of an Irish agribusiness group to a EUR 30,000,000 financing.
15th July 2019
PNSA advised its long-standing client Magnetto Wheels on the negotiation of a guarantee agreement under the framework of an €134m financing granted by IFC and Cassa Depositi e Prestiti S.p.A.
16th May 2019
13th February 2018
13th February 2018
15th January 2018
POPOVICI NIȚU STOICA & ASOCIAȚII promotes three lawyers to partnership.
16th November 2017
GDPR: Relations and responsibilities in the processing of personal data (controllers, processors and sub-processors)
There is no doubt that every company processes personal data (e.g. of its’ employees’, clients’, contractual partners’).
Most often, this also involves a constant barter between companies processing personal data and companies providing various services (e.g. HR, IT, payroll, datacenters, cloud services), both of them falling within the scope of the GDPR.
10th November 2017
Laundered money is oxygen to crime, terrorism and tax-avoidance. We need to cut off its supply as best we can. Today's stronger rules are a big step forward but we now need quick agreement on the further improvements the Commission proposed last July",
“(…) The new rules as of today are crucial to closing further loopholes. I urge all Member States to put them in place without delay: lower standards in one country will weaken the fight against money laundering and terrorist financing across the EU. I also call for quick agreement on the further revisions proposed by the Commission following the "Panama Papers" to increase transparency of beneficial ownership”,
10th November 2017
With 2018 just around the corner and the European Union setting a clock on raising the standards of personal data protection, companies are starting to prepare themselves for new challenges.
The General Data Protection Regulation (“GDPR”) approved by the EU in 2016 will enter into force on the 25th of May 2018 and all companies processing personal data need to be compliant by that time.
10th November 2017
The new General Data Protection Regulation (“GDPR”) could not have enlarged data controllers’ and data processors’ obligations and apply such great sanctions without anticipating the need for companies to appoint a Data Protection Officer (“DPO”).
While companies must now turn their focus on ensuring compliance with the GDPR every step of the way, the DPO will be a key player in reaching this goal.
10th November 2017
By amending the Labour Code in August 2017, via the Emergency Ordinance no. 53/2017, the Government toughened the rules on conclusion and declaration of employment contracts and facilitated the authorities’ control activities in the sensitive area of undeclared work.
Some of the main changes introduced by EGO no. 53/2017 are related to the registration of employment contracts, to the prohibition of rendering work/accepting work in the absence of a written employment contract and to the employer’s obligation to officially record the daily duration of each employee’s presence in the work place, including entry and exit hours.
Legal Developments12th September 2019
Criminal liability of corporations is a hot topic worldwide. From financial institutions to global corporations, almost daily we hear about a large corporation being investigated, signing a Deferred Prosecution Agreement or being convicted, usually for money laundering, tax evasion or bribery.
Top Tier Firm Rankings
- Commercial, corporate and M&A
- Dispute resolution
- PPP and procurement
- Real estate and construction
- Restructuring and insolvency