Popovici Nitu Stoica & Asociatii > Bucharest, Romania > Firm Profile
Popovici Nitu Stoica & Asociatii Offices
239 CALEA DOROBANTI
6TH FLOOR, 1ST DISTRICT
010567 BUCHAREST
Romania
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Popovici Nitu Stoica & Asociatii > The Legal 500 Rankings
Romania > Commercial, corporate and M&A Tier 1
Popovici Nitu Stoica & Asociatii is highly regarded for its corporate and transactional expertise. The practice is recognised for its 'breadth of experience in M&A advisory', and the group is frequently instructed in high-profile mergers. The team has been kept especially busy assisting private equity investors with corporate matters. The 'commercially astute and pragmatic' Bogdan Stoica co-heads the practice with managing partner Florian Nițu and Silviu Stoica, an expert in M&A and counsel to several blue-chip US clients. Managing associate Vlad Ambrozie and Irina Ivanciu, who brings experience in real estate-related transactions, are singled out for their contributions.Practice head(s):
Florian Nițu; Bogdan Stoica; Silviu Stoica
Other key lawyers:
Testimonials
‘The team led by Bogdan Stoica is excellent. They are very experienced, knowledgeable in Romanian law, and take a very commercial and pragmatic approach.’
‘Bogdan Stoica is highly commercially astute and pragmatic. Not just a lawyer but a top-rate counselor and trouble-shooter. Recommend him very highly.’
‘A breadth of experience in M&A advisory, with valuable insights, clear mark-ups on transaction docs, as well as a round the clock availability which was very important in the tight timeframe we had for our transaction.’
‘Availability, confidence, expertise.’
‘Silviu Stoica is a very responsive partner who looks at all the details of the transaction.’
‘Vlad Ambrozie was super helpful in the coordination of the transaction with a deep knowledge of the client’s industry and needs.’
Key clients
Romanian Business Consult (RBC)
Auchan
Oresa
Ameropa
Dedeman
Electromontaj
Provita
Via-Trend
BICO Industries
Fondul Proprietatea/Franklin Templeton Investment Management
Extremoo Group
Brain Hospital
Klass Wagen
ALD
Baupartner
Work highlights
- Advised Brain Hospital on its acquisition of the neurosurgical business of Monza Hospital.
- Advised Romanian Business Consult (RBC) on its acquisitions of SmartPay Software (SPS) and Fullscreen Digital.
- Assisted the owners of Provita with the sale of a 51% controlling stake to MedLife.
Romania > Dispute resolution Tier 1
Dispute resolution is a key focus for Popovici Nitu Stoica & Asociatii, which is widely recognised for its extensive expertise in contentious matters. The team's workload includes corporate and regulatory disputes, commercial claims, and contentious real estate and construction matters, however the group is equally adept at handling alternative dispute resolution and arbitration cases. Ciprian Donțu has an excellent track record in acting for multinational companies, financial institutions and individuals. Ilinca Ștefănescu-Goangă's workload includes civil and commercial disputes, and contentious real estate, tax, competition, public procurement and shipping cases. Florian Nițu leads the international arbitration group. At managing associate level, Bianca Chiurtu is brings experience in handling tax and administrative disputes, while Camelia Patrascu focuses on real estate infrastructure matters.Practice head(s):
Ciprian Dontu; Ilinca Stefanescu-Goanga; Florian Nitu; Raluca Petrescu
Other key lawyers:
Bianca Chiurtu; Camelia Patrascu; Catinca Mihalcea; Alexandru Stan
Key clients
Fondul Proprietatea/ Franklin Templeton
Enel
Auchan Romania
Ameropa
AXPO
Passavant
PORR
Deutsche Leasing
Tereos
Iridex
Swietelsky Baugesellschaft
Enterprise Services Romania SRL (Hewlett Packard Group)
Clara Petroleum Ltd
Strabag AG
Fund Managers Association (AAF)
Work highlights
- Representing Strabag in ICC arbitration proceedings concerning a road project.
- Represented Auchan Romania before the Bucharest Court of Appeal concerning the annulment of a multimillion dollar tax obligation imposed by the tax authorities.
Romania > PPP and procurement Tier 1
The PPP and procurement group at Popovici Nitu Stoica & Asociatii works closely with the firm’s concessions, infrastructure and project finance offerings to support clients ranging from large entrepreneurs and construction companies to corporate entities across the energy, environment, IT, healthcare, and agriculture sectors. The development and implementation of national projects involving road rehabilitation, construction and utilities is the team’s key area of strength; clients also praise the team’s ability to work internationally. Practice head Florian Nițu is supported by the ‘technically impeccable’ Ramona Pentilescu and Diana Dobra, who is noted for her experience in EU law.Practice head(s):
Florian Nitu
Other key lawyers:
Ramona Pentilescu; Alexandru Ambrozie; Diana Dobra
Testimonials
‘We use PNSA in Romania but have used them as lead counsel working with partners in other EU or non-EU countries in relation to public projects, such as in Malta, Belgium, Luxembourg, and the UK. Their role is full scope: including regulatory advice, bid assistance, bid defense, procurement award support and challenges, litigation in public procurement, contract negotiation and contract implementation.’
‘Florian Nitu, Ramona Pentilescu, and Diana Dobra form the core team we retain in procurement matters. Ramona is technically impeccable, with huge experience in the public sector. Diana Dobra is capable of handling very sophisticated EU procurement law and practice issues.’
Key clients
SIMAVI
Medist Grup
SAP
Medtronic
Strabag AG
Ansaldo Nucleare
Enel Group
Schlumberger Logelco
Property Fund
Kontron Services Romania
Romania > Real estate and construction Tier 1
‘The Popovici Nitu Stoica & Asociatii team is very strong in the Romanian real estate and construction market‘, operating as 8 sub-teams within real estate to cover land acquisition and development; project development and construction management; real estate investment; project finance and asset-based finance; real estate operation; real estate asset resolution; property disputes; and special projects. Florian Nițu heads the firm’s real estate, M&A and arbitration practices; head of the real estate development group Valentin Creața excels at matters involving retail shopping centres, office buildings, healthcare, logistics and residential projects. Bogdan C. Stoica brings M&A and finance experience to related real estate projects; Ioana Șampek specialises in the acquisition, development and operation of office and industrial buildings.Practice head(s):
Florian Nițu; Valentin Creata; Bogdan C. Stoica; Ioana Sampek
Other key lawyers:
Ela Martin; Ana-Maria Popa
Testimonials
‘The Popovici Nitu Stoica & Asociatii team is extremely involved and dedicated to the requested legal activity, regardless of its value. The professionalism they demonstrate is at the highest levels.’
‘We have been working with Popovici Nitu Stoica & Asociatii for almost 5 years and we can say that we are very pleased with the way of working and collaborating with Florian Nitu, Ela Marin and Bogdan Stoica. Their willingness to make an effort, professionalism and knowledge set them apart from other law firms.’
‘Popovici Nitu Stoica & Asociatii represent the ideal lawyers for this field of activity – real estate. The level of professionalism is very high, as is the seriousness and safety with which they treat us in all situations.’
‘We were happy to have Florian Nitu, Ela Marin and Ana-Maria Popa and are impressed by their professionalism and the high level of continuous training.’
‘The Popovici Nitu Stoica & Asociatii team is very strong in the Romanian real estate and construction market and they provide very client-oriented services.’
Key clients
Auchan Group (Auchan Romania, Ceetrus, Leroy Merlin)
Dedeman/Pavăl Holding
S IMMO Sparkassen Immobilien
GLL Real Estate (Macquarie Infrastructure and Real Assets (MIRA))
P3 Logistic Parks
Knight Frank
Estoria Group & Hexagon Group
VGP Group
WDP
AFI Europe Romania
Work highlights
- Advising PAVĂL HOLDING on the acquisition of U Center 1 – the first phase of the U Center office project in Bucharest, from Forte Partners.
- Advising S IMMO AG on the restructuring of its flagship and retail office projects in Bucharest, Sun Plaza Mall and Sun Plaza Offices, in an investment exceeding €200m.
- Advising Hexagon Group on the development and forward sale of a large mixed-use office, retail and residential project known as Hexagon District, including on the sale to Kaufland.
Romania > Restructuring and insolvency Tier 1
Popovici Nitu Stoica & Asociatii is a top choice for representing domestic and international clients in insolvency and restructuring proceedings. Insolvency litigation forms a key pillar of the practice, with litigator Ciprian Donțu often appearing in court proceedings pertaining to insolvency issues. Dontu jointly heads the team with managing partner Florian Nițu, who has extensive expertise in advising on corporate restructurings, and Valentin Creața, who regularly advises healthcare and real estate entities on reorganisations. Ilinca Ștefănescu-Goangă is a name to note for contentious insolvency matters.Practice head(s):
Florian Nitu; Ciprian Dontu; Valentin Creața
Other key lawyers:
Ilinca Stefanescu; Camelia Patrascu
Testimonials
‘Prompt and stable support, consistent team, reliable advice with strong commercial understanding.’
Key clients
Auchan
Banque Banorient France
Axpo Group
Enel Group
Deutsche Leasing
Hidroconstructia
Hochtief
Immofinanz AG
KBC Bank NV and KBC Bank Ireland
Lincoln Electric (Ductil SA)
Compagnie Fruitière
Medist
Property Fund
ProSiebenSat.1 Media SE
SAP
Societe Generale Group
Swietelsky
Work highlights
- Advising Swietelsky on the insolvency proceedings of Euroconstruct, as well as on the insolvency of Aktor.
- Advising Hochtief on the bankruptcy proceedings of former clients of a Hochtief group company active in the Romanian market.
Romania > Employment Tier 2
Popovici Nitu Stoica & Asociatii‘s employment team handles a range of contentious and non-contentious matters and frequently collaborates with the firm’s wider M&A, tax and litigation teams to support clients in industries from insurance to healthcare technology and manufacturing. Its expertise spans day-to-day consultancy and involvement in complex employment matters arising out of M&A transactions, including the handling of employee complaints, collective labour agreements, and disciplinary investigations. The team is co-led by Vlad Neacșu, who has particular experience regarding employee restructuring, and Ioana Cazacu.Practice head(s):
Vlad Neacşu; Ioana Cazacu
Testimonials
‘The team’s support was provided in a timely manner.’
‘Personal approach tailored to our needs. Team is very familiar with our internal processes and can provide solid legal advice also on very short notice.’
Key clients
Akzo Nobel
Ameropa Holding
Archer-Daniels-Midland
Auchan & Leroy Merlin
Bunge
Enel
Marsh
Medtronic
SAP Romania
Schlumberger
Ubisoft
UPS Romania
Romania > Energy and natural resources Tier 2
Popovici Nitu Stoica & Asociatii‘s energy and natural resources team handles regulatory, M&A, disputes and competition matters across the energy sector, with particular strength in nuclear projects. Disputes with regulatory bodies are an area in which the team has notable experience, bringing together the firm’s litigation and compliance teams. Florian Nițu and Vlad Neacșu co-head the team. Nitu offers particular strength in renewables projects, while Neacşu, who also heads the firm’s employment practice, has broad experience across the energy sector. Ciprian Donțu is a key contact for energy sector disputes.Practice head(s):
Florian Nitu; Vlad Neacşu
Other key lawyers:
Ciprian Dontu
Key clients
Enel Group
Hidroconstructia & Hidroelectrica
Electricite de France (EDF)
Schlumberger Logelco
Property Fund
Franklin Templeton Investment Management
BAUMIT
Ansaldo Nucleare
Kalpataru Power Transmission Limited
VGP
Electrica
Axpo Group
Azomures
Work highlights
- Assisted Fondul Proprietatea in all litigation initiated against the Romanian State’s and ANRE’s decisions to re-establish the regulated market for the energy supplied to household consumers.
- Assisted Axpo Solutions AG on the conclusion of a long-term financial power purchase agreement (PPA) for an onshore windfarm with Macquarie.
- Represented Enel Romania in several disputes against the National Energy Regulatory Authority aiming at cancelling the legal tariffs set by the authority.
Romania > EU and competition Tier 2
Popovici Nitu Stoica & Asociatii's antitrust and competition team has a solid track record in assisting clients with all stages of contentious matters, and is also recognised for its strength in handling investigations within a broad range of sectors. Day-to-day compliance matters are another key driver of work for the group. Mihaela Ion, 'a market authority in antitrust matters', heads up the practice, and is well supported by Laura Ambrozie and Vanessa Nistor.Practice head(s):
Mihaela Ion
Other key lawyers:
Testimonials
‘PNSA lawyers are very careful and pay attention to our concerns and requests. What we really appreciated was their fast reaction when we need support in relation with the competition council in Romania.’
‘Mihaela Ion is a very high skilled and dedicated lawyer in the competition law area. Apart from her deep knowledge, she also knows how to communicate with business people so to gain their trust and she speaks the same language.’
‘Mihaela Ion is a market authority in antitrust matters.’
Key clients
Hewlett Packard INC Romania
SIVECO Romania
New Kopel Romania
Prefera Foods
Union Motors Car Sales
Ameropa Holding
Badsi Impex
Kontron Services
Cemacon
Albalact, Covalact & Dorna Lactate
Electromontaj
Romania > TMT Tier 2
The TMT team at Popovici Nitu Stoica & Asociatii is ‘highly professional, trustworthy and reliable’. It acts for a range of strategic and financial investors in the sector, alongside suppliers and customers. The team has standout experience in IT transactions, and notably advised SAP Romania in obtaining 5G certification. Ernest-Virgil Popovici, telecoms specialist, co-heads the team with Bogdan C. Stoica, who is particularly recommended for M&A matters, as well as regulatory expert Silviu Stoica, and Mihaela Ion.Practice head(s):
Ernest-Virgil Popovici; Bogdan C. Stoica; Silviu Stoica; Mihaela Ion
Testimonials
‘Good team, equilibrated, quick response and mature attitude.’
‘Trustworthy individuals, always saying the truth and assessing the situations correctly.’
‘We are a highly visible IT company, strongly present in the Romanian market. We trust PNSA with entire scope of legal services, including TMT. Their teams are highly professional, trustworthy and reliable. We value our cooperation and take comfort knowing that they will provide us most up to date and relevant advice.’
Key clients
Kontron Services (former S&T)
Hewlett-Packard Romania
SIMAVI
Orange
UPS
Ubisoft
Asseco SEE
Enea
NTT Data
Yandex
Work highlights
- Advised SAP Romania and SAP SE in connection with obtaining the 5G Certification as producers of technologies, equipment and software that may be used in information and communication infrastructures of national interest and in 5G networks.
- Advised the Swedish group Enea on the sale of Enea Services Romania to AROBS Transilvania Software, in one of the largest IT transactions in Romania in recent years.
- Advised Romanian Business Consult (RBC) on the acquisition of SmartPay Software (SPS), and Fullscreen Digital.
Romania > Banking and finance Tier 3
The finance team at Popovici Nitu Stoica & Asociatii is adept at acting on both borrower and lender sides of financial transactions, and is well versed at acting for banks with Romanian operations. Fintech work is a specialist area of focus for the group. Bogdan Stoica is the practice head; Alexandru Ambrozie and Ioana Lazar are other key names to note.Practice head(s):
Bogdan Stoica
Other key lawyers:
Testimonials
‘Always close to the client’s needs, acting somehow like an extension of the company; flexible, business oriented, always available and problem solving. Very good professionals, nice people. A pleasure to make a team with them for any project and these “attributes” and spirit are seen for the whole company (from associate to partner). Fees well calibrated for each project.’
‘We have been working for many years in complex financing arrangements with PNSA. They do credit, debt, financial instruments, capital markets, project finance, operating a large experienced team.’
‘Alexandru Ambrozie, Bogdan Stoica and Ioana Lazar are all experienced and pragmatic. With Alexandru Ambrozie we have worked constantly for a very long time.’
Key clients
BRD Société Générale
Banque Banorient France
Franklin Templeton Investment Management Limited United Kingdom
Libra Internet Bank
Deutsche Leasing
The Governor and Company of the Bank of Ireland
Ameropa Group/Ameropa Grains/ Azomures/Chimpex
KBC Bank
Oresa
Work highlights
- Advised the Ameropa Group on financings worth €550m.
- Advised Paval Holding on two credit facilities from Raiffeisen Bank relating to the acquisition of U Center 1.
Romania > Intellectual property Tier 3
Popovici Nitu Stoica & Asociatii‘s intellectual property practice routinely handles registration and defence of trade marks in various industries, and has a standout strength in the sports arena where it acts for elite Romanian athletes in the range of rights issues. Experienced partner Bogdan Stoica is the main contact and has a particularly strong presence in the healthcare and pharma sectors. Camelia Constantin is well versed in the TMT space, and Ioana Avram is a further contact to note.Practice head(s):
Bogdan Stoica
Other key lawyers:
Testimonials
‘Highly professional, very engaged and with strong IP background.’
Key clients
NTT Data
Greentek Lighting
Kontron Services
Orange
UPS
Ubisoft
Extremoo
Auchan
Media Consulta
PlantExtrakt
Romanian Cycling Federation
Passavant Energy & Environment
Hexagon Structures
Orange Romania
Moncler
Nutrilife
Work highlights
- Advised Extremoo Group in registering and defending its IP rights over the “Casino Alpha” trade mark in Romania, USA and Canada.
Romania > Tax Tier 3
Popovici Nitu Stoica & Asociatii‘s tax practice works cross-departmentally with the firm’s M&A, litigation, IT, employment and white-collar practices to provide comprehensive support, including in relation to tax reviews and due diligence, and audit assistance. Raluca Rusu heads the team, a certified tax consultant with international tax experience. The team often works in collaboration with the firm’s transactional department, across the construction, retail, IT and manufacturing sectors. Bianca Chiurtu is also recommended in this area.Practice head(s):
Raluca Rusu
Other key lawyers:
Key clients
PAVAL HOLDING
Estoria
Ameropa
Enea
Impuls Leasing
Azomures
GLL Real-Estate
Knight Frank
ERES & Mercury Development
Simona Halep
Work highlights
- Assisted PAVAL HOLDING, the holding company of DEDEMAN, the biggest Romanian entrepreneurial company, on the acquisition of U Center 1.
- Advised the Swedish group Enea on the sale of Enea Services Romania to AROBS Transilvania Software.
- Advised Noriel Group on its restructuring plan with an intended merger by between two of the group’s companies.
Romania > TMT: gambling law Tier 3
The gambling and betting law practice at Popovici Nitu Stoica & Asociatii has expertise in all matters relating to the licensing process, acting on behalf of a diverse clientele which includes online and offline gambling and betting operators, software operators and payment processors. Bogdan C. Stoica heads the team, with the support of regulatory matters specialist Claudia Salomia.Practice head(s):
Bogdan C. Stoica
Other key lawyers:
Key clients
Intergames
Extremoo Group
Stargames Corporation Australia
Work highlights
- Advising Intergames on all aspects related to the regulatory, corporate and commercial matters in the context of the COVID pandemic with a particular focus on the real estate.
- Advising Extremoo Group on all corporate and commercial structuring and restructuring as services centres.
- Advised Stargames Corporation on all the setting up and operation of a local branch as well as with respect to the sales of electronic slot machines on the Romanian and European market.
Romania > White-collar crime Tier 3
Popovici Nitu Stoica & Asociatii draws on 'deep experience advising on white-collar issues for big corporates' and has a regular stream of new mandates while maintaining its ongoing support in this area for its longstanding clients. Practice head Alexandru Ambrozie 'showcases strong professional judgement, decision-making skills, a high level of transparency and integrity'. He is especially strong in representing clients in regulatory and criminal investigations, and prosecutions brought by the National Anticorruption Directorate, the Directorate for Investigating Organized Crime and Terrorism, prosecutor’s offices and administrative authorities. Ana Stoenescu is the other key lawyer to note, experienced in defending clients in tax evasion, money laundering, EU fraud offences, and health and safety breaches.Practice head(s):
Alexandru Ambrozie
Other key lawyers:
Testimonials
‘Top-notch in Romania. Strong experience, pragmatic approach, and sound judgment.’
‘Alexandru Ambrozie is very experienced and skilled in white-collar investigations. He takes a pragmatic and proportional approach and has sound judgement based on many years of experience.’
‘PNSA’s experience in anti-corruption matters and overall daily professional conduct enables them to provide high-quality service for their clients, in complex investigations and industries.’
‘Alexandru Ambrozie is a very experienced partner, with extensive expertise in white-collar crimes, legal corporate, regulatory, anti-bribery and anti-corruption matters. He showcases strong professional judgement, decision-making skills, a high level of transparency and integrity, which I always appreciate.’
‘Ana Stoenescu is a great professional, with whom the collaboration is really smooth. On several occasions, she has showcased great communication and listening skills. She is responsive, attentive and I am confident in our collaboration going forward.’
‘Deep experience advising on white collar issues for big corporates. Very client focused.’
Key clients
Fondul Proprietatea
Auchan
DB Schenker
Orange
Philips
Medist
Ductil/Lincoln Electric Group
Ameropa
Banque Banorient France
Deutsche Leasing
Romania > Capital markets Tier 4
Popovici Nitu Stoica & Asociatii's practice is well versed in advising on a broad spectrum of equity and debt capital markets matters. Under the leadership of Bogdan Stoica and Alexandru Ambrozie, the team has particular expertise in advising large, high-profile investment funds in the capital markets space. Alexandra Niculae is singled out for her contributions.Practice head(s):
Bogdan Stoica; Alexandru Ambrozie
Other key lawyers:
Key clients
Franklin Templeton Investment Management Limited United Kingdom
Property Fund
Ameropa
Oresa
Certinvest
Voestalpine
Immofinanz
Dedeman
Xella
Revaho Beheer BV
Electrica
Sphera
Morphosis
Meta Estate Trust
AAF
Orange SA
Work highlights
- Assisted Meta Estate Trust with launching its IPO and listing its shares on the Bucharest Stock Exchange.
- Acted for Orange in relation to a new share offering program addressed to its Romania-based 3,000 employees.
- Assisting the Fund Managers Association (AAF) and Fondul Proprietatea with the new requirements regarding the composition of the Audit Committee.
Popovici Nitu Stoica & Asociatii > Firm Profile
Firm Overview:
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 groups 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 & Acquisitions
4 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 & 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.
Recent assignments:
- Mark Twain IS on the sale of a majority stake to Morphosis Capital Fund.
- Safety Broker on the acquisition of Globasig Broker de Asigurare-Reasigurare.
- Electromontaj on the acquisition of a controlling stake in the insurance company ABC Asigurari – Reasigurari SA.
- Baupartner on the sale of Bauelemente to Romcim.
- Cemacon on the acquisition of Euro Caramida.
- Brain Hospital on the acquisition of the neurosurgical business of Monza Hospital.
- BICO Industries on the acquisition of Iranga Technologijos.
- Auchan Romania on the sale of the former Ford Plant to One United.
- Swedish group Enea on the sale of Enea Services Romania to AROBS Transilvania Software.
- Provita and its owners on the sale of a controlling stake of 51% to MedLife, along with putting in place the shareholders’ agreement for future developments.
- Romanian Business Consult (RBC), a company owned by Oresa, on the acquisition of (i) Fullscreen Digital and (ii) SmartPay Software (SPS).
- Via-Trend on its acquisition of SNACK 4U CONCEPT.
- Prefera Foods on the sale of the meat business to Morad Group.
- IROS BRAVE 21 on the sale of Pecineaga 48MW onshore wind power project.
- Electromontaj on the acquisition of Hidroconstructia, the largest Romanian company specialized in the field of hydropower and hydrotechnical constructions.
Key clients: Akzo Nobel, Ameropa, Auchan, BICO Industries, Brain Hospital, Cemacon, Certinvest, DB Schenker, Dedeman, Enea, Orange, Oresa, Property Fund, Provita, RBC, Verdino Green Foods
Contact: Florian Nitu / Bogdan C. Stoica / Silviu Stoica / Irina Ivanciu
E-mail: florian.nitu@pnsa.ro / bogdan.stoica@pnsa.ro / silviu.stoica@pnsa.ro / irina.ivanciu@pnsa.ro
Banking & Finance:
1 Partner, 4 fee earners based in Romania
- A worldwide leading Swiss grain and fertilizer producer and trader on the successful €542m refinancing of its main Revolving Credit Facility in Romania.
- One of the largest Lebanese banks on a new €22m real estate financing granted to a strategic real estate developer for refinancing of outstanding banking facilities availed by third party banks and assisting in their working capital needs and reimbursement of shareholders’ loans.
- A real estate investor on two credit facilities in a maximum amount of EUR 53.7M from Raiffeisen Bank in relation with the acquisition of a real estate project.
- A major energy distributor and its Romanian subsidiaries in relation to contracting several credit facilities, amounting to more than EUR 500M.
- A Belgian private financier on the granting and securing a €14m financing to one of the main port operators in Midia and Constanta Harbours in view of developing further infrastructure facilities.
Key clients: Ameropa, Binance, Banque Banorient France, BRD Société Générale, Deutsche Leasing, Oresa, Vabeldi, WDP
Contact: Bogdan C. Stoica
E-mail: bogdan.stoica@pnsa.ro
Competition & Antitrust:
1 Partner, 5 fee earners based in Romania
- Hewlett Packard in connection with a Competition Council investigation into alleged abuse of dominance.
- Simavi, an IT company part of SIVECO group of companies, in connection with a complaint submitted with the Competition Council regarding a potential anticompetitive behaviour of a contracting authority.
- Albalact, Covalact and Dorna Lactate (Lactalis companies), one of the top Romanian dairy producers, in connection with an investigation launched by the RCC with respect to alleged breaches of article 5 of the Competition Law no 21/1996 and 101 (a) of the TFEU on the butter market.
- Kontron Services (former S&T Romania), one of the top Romanian IT companies, in connection with an investigation launched by the RCC with respect to alleged breaches of article 5 of the Competition Law no 21/1996 and 101 (a) of the TFEU in the context of a bid-rigging.
- Bunge Romania, one of the top Romanian oil producers, in connection with an investigation launched by the RCC with respect to alleged breaches of article 5 of the Competition Law no 21/1996 and 101 (a) of the TFEU on the production market of sunflower oil.
- Cemacon in obtaining the clearance decision from the Competition Council with respect to the transaction by which Cemacon acquired sole control over Eurocaramida SA.
Key clients: Akzo Nobel, Ameropa, Auchan, Bunge, Cemacon, Dedeman, Hewlett-Packard, Kontron Services, Lactalis, Medtronic, New Kopel, Orange, Oresa, Property Fund, Simavi
Contact: Mihaela Ion
E-mail: mihaela.ion@pnsa.ro
Real Estate:
5 Partners, 13 fee earners based in Romania
- Hexagon Group in connection with the acquisition of the former Tehnofrig platform in Cluj-Napoca.
- PAVAL HOLDING on the acquisition of U Center 1 from Forte Partners.
- WDP on two new sale-and-leaseback acquisitions of two different automotive production units.
- Romconsulting International on the sale of 55 Calea Floreasca office building to Noyoco Studio.
- A real estate investment company on the restructuring of its flagship and retail office projects in Bucharest, in an investment exceeding €200 million.
- Meta Estate Trust on launching its IPO and further on listing its shares on the AeRO market of the Bucharest Stock Exchange.
- Encore Capital Trust (ECT) on the first round of financing by attracting capital from several strategic investors.
- ERES & Mercury Development on the acquisition of Astra Romana Refinery from New Century Holding.
- Oresa on the acquisition of the former Armonia Arad shopping centre from Immofinanz.
- Redport Capital and Mobexpert on the acquisition of a 44,000 sqm land plot located opposite Petrom City.
- VGP Group in connection with the development of certain VGP Parks projects in Romania, consisting in a chain of logistics and warehouses.
- Hexagon Group in connection with (i) the acquisition of the Ferrosan plant from GSK, and (ii) the development and forward sale of a large mixed-use office, retail and residential project known as Hexagon District Project.
Key clients: Auchan Group, Cross City & Estoria, Dedeman, DSV Solutions, GLL, Hexagon Group, Ipso, Knight Frank, Lactalis, LINCOLN ELECTRIC, P3 Logistic Parks, Redport Capital, S IMMO, Uniqa Real Estate, VGP Group, WDP
Contact: Florian Nițu / Valentin Creața / Ioana Șampek / Bogdan. C Stoica / Irina Ivanciu
E-mail: florian.nitu@pnsa.ro / valentin.creata@pnsa.ro / ioana.sampek@pnsa.ro / bogdan.stoica@pnsa.ro / irina.ivanciu@pnsa.ro
Intellectual Property:
1 Partner, 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.
- Romanian swimming superstar David Popovici in connection with various partnerships involving the assignment and use of IP rights, registration of trademarks, negotiation and execution of various endorsement contracts with high-profile partners such as Raiffeisen Bank, Omega, MedLife, Arena, Macromex, as well as various infringements of the rights over his imagine by various third parties and on all his legal and tax matters.
- PlantExtrakt in registering and defending its IP rights over “Nasirus” trademark.
- Romanian football star Gheorghe Hagi in connection with various partnerships involving the assignment and use of IP rights in favour of a worldwide digital player as well as in relation to the negotiation with various TV producers in respect of assigning the rights for the creation of a lifetime documentary on the life of Gheorghe Hagi.
Contact: Bogdan. C Stoica
E-mail: bogdan.stoica@pnsa.ro
Energy & Natural Resources:
2 Partners, 4 fee earners based in Romania
- PPC Renewables (former Enel Green Power) on various development, investment and acquisition of wind and solar farm projects.
- Fondul Proprietatea in all litigation initiated against the Romanian State’s and ANRE’s decisions to re-establish the regulated market for the energy supplied to household consumers. We also assist Fondul Proprietatea with their requests to the European Commission to intervene on this matter.
- VGP in connection with a renewable energy project consisting of energy generation by using rooftop PV panels.
- Azomures SA (the largest producer of fertilizers in Romania, part of the Swiss Ameropa Group) on (i) negotiating and concluding the bilateral gas and power supply agreements for the Azomures fertilizers production facility in Tg. Mures; and (ii) drafting position papers of Azomures, as the main actor in the fertilizers industry, on the package of draft legal enactments setting up compensation schemes for gas and power consumers and, particularly, on the exclusion from the compensation scheme of industrial actors benefiting of Greenhouse Gas Emissions Allowances.
- A major electricity distributor engaged us to perform a thorough legal review of the unbundling rules proposed by the company’s shareholders.
- Axpo Solutions AG, part of the Swiss based energy giant Axpo Group, on (i) the conclusion of a long-term financial power purchase agreement (PPA) for an onshore windfarm with Macquarie; and (ii) the interpretation of various legal provision in the legal framework dealing with compensation schemes for gas and power consumers including, without limitation, on the limits of dealing with the suppliers and clients in bilateral contracts as well as on applying for compensations.
Key clients: Ameropa, Ansaldo Nucleare, Axpo Solutions AG, Electrica, PPC Renewables (former Enel Green Power), Property Fund
Contact: Vlad Neacsu / Florian Nitu
E-mail: vlad.neacsu@pnsa.ro / florian.nitu@pnsa.ro
PRACTICE AREAS
Agribusiness
Banking & Finance
Capital Markets
Competition & Antitrust
Consumer & Retail Goods
Corporate & Commercial
Data Privacy
Employment & Pensions
Energy & Natural Resources
Environmental Compliance
Gambling & Betting
Healthcare & Pharmaceuticals
Insurance
Intellectual Property
International Arbitration
Litigation
Mergers & Acquisitions
Project Finance/PPP, Concessions & Infrastructure
Public Procurement
Real Estate
Restructuring & Insolvency
Sports Law
Tax
Telecommunications, Media & Technology
Transports & Logistics
White Collar Compliance & Defence
OFFICES
ROMANIA
BUCHAREST: 239 Calea Dorobanti, 6th Floor, 1st District
Postal Code 010567
Tel: +40 21 317 79 19
Fax: +40 21 317 85 00
Email: office@pnsa.ro
Main Contacts
Department | Name | Telephone | |
---|---|---|---|
Ernest-Virgil Popovici (Senior Partner) | Ernest.Popovici@pnsa.ro | +40 21 317 7919 | |
Florian Nitu (Managing Partner) | Florian.Nitu@pnsa.ro | +40 21 317 7919 | |
Bogdan C. Stoica (Deputy Managing Partner) | Bogdan.Stoica@pnsa.ro | +40 21 317 7919 |
Lawyer Profiles
Photo | Name | Position | Profile |
---|---|---|---|
Mr Vlad Ambrozie | Managing Associate | 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 | Of Counsel | 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 | |
Mrs Ioana Șampek | Partner | View Profile | |
Mrs Ilinca Ștefănescu-Goangă | Partner | View Profile |
Staff Figures
Number of partners : 16 Number of lawyers : 70Languages
English French Italian RomanianInterviews
Florian NITU, Managing Partner, Popovici Nitu Stoica & Asociatii
Florian Nitu on drivers of development in the Romanian legal services market
1) What do you see as the main points that differentiate Popovici Nitu Stoica & Asociatii from your competitors
The Popovici name is associated with legal service in Romania since the beginning of the last century.
Our Firm has linked its name with the creation of the essential Romanian market economy institutions after the fall of the Communist regimes in Eastern Europe in 1989. We have contributed to the setting up of the property funds of the stock exchanges and of numerous regulatory agencies and judicial bodies.
For the past three decades significant investment and acquisitions projects on the local market have been carried out with the legal assistance of Popovici Nițu Stoica & Asociații.
Most of the Popovici Nițu Stoica & Asociații team members have specialized in a wide range of practice areas in numerous jurisdictions, with prestigious universities from Paris to London, Washington to New York, from Rome to The Hague.
State of the art legal knowledge embedded in a purely entrepreneurial approach make us different.
2) Which practices do you see growing in the next 12 months? What are the drivers behind that?
There are significant opportunities for growth in may practice areas from greenfield and industrial investments to energy, oil and gas, and from real estate to agribusiness, but also in the financial sector, banking and capital markets, in the IT and Telecommunications, healthcare and pharma.
in general, the Romanian M&A market is expected to flourish in 2024 with other billion Euro transactions on the horizon. Indeed, in many sectors consolidation process completed and exit scenarios are considered and in numerous industries billion Euro plus transactions are ripe for the picking.
3) What’s the main change you’ve made in the firm that will benefit clients?
We at PNSA have put together in the recent years a legal tech platform under pnsa.legal where we provide legal support at no charge to clients in order to help them reshape certain corporate functions within organization that are traditionally subject to on site legal assistance and representation, meaning (i) corporate-secretarial and business administration; (ii) compliance and control; (iii) procurement; (iv) HR and resource management; and (v) private public interface.
4) Is technology changing the way you interact with your clients, and the services you can provide them?
It does indeed. Digitalization and commoditization of legal services are no longer just concepts. Many companies these days actively use various legal technology tools and do significant legal data processing via customized legal software platforms. And we at PNSA encourage them to do so and support them actively in better designing their needs for such tools and efficiently exploiting them. We do help clients in selecting and retaining legal tech analysts and in defining and assigning such dedicated functions within the organizations. We define and implement tech-based standard legal instruments and contribute all efforts in creating and expanding what is generally referred to as the “client-attorney cyberspace.”
5) Can you give us a practical example of how you have helped a client to add value to their business?
PNSA Dispute Resolution Practice Group has developed over decades and thousands of cases a Claim Management Legal Suite that we offer clients for their litigation portfolio on a catch all basis, all accompanied with certain legal risk hedging agreements. It serves best clients’ needs in terms of management of the litigation related contingent liability, it may also serve us as counsel, as a differentiator in the market and in many cases it also proves a very lucrative package.
6) Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?
While there are many clients that do sort of extreme forum shopping, our experience of investing in long term established relationships proved the correct one. We are happy to see many client relations celebrating 10 years or 20 years or even 30-years of un-interrupted collaboration with our firm. We have always invested based on an organic growth strategy – in our teams, in our practices and in our client development – and will continue to do so. We have expanded our scope in legal cutting-edge areas and have also made the risk profile of our economic model more elastic.
Spotlights
ROMANIA
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 groups 70 qualified lawyers and tax advisors.
Focusing traditionally on the private sector and on 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.
Popovici Nitu Stoica & Asociatii
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 groups over 80 qualified lawyers and tax advisors.
Focusing traditionally on the private sector and on 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.
Press Releases
New Managing Associates at PNSA
27th September 2023 Popovici Nițu Stoica & Asociații is pleased to announce the promotion of Alexandru Stan (International Arbitration; Corporate & Commercial) and Răzvan Alexandru Popa (Litigation; Restructuring & Insolvency; Tax) to Managing Associates.RBC takes over Fullscreen Digital
11th January 2023 PNSA advised Romanian Business Consult (RBC), the largest integrator of IT solutions for the retail industry, on the acquisition of Fullscreen Digital software company, thus strengthening its expertise in software development and digital transformation and expanding the range of IT services it offers to its customers.PNSA wins the “Best Real Estate Law Firm of the Year” award at the CIJ Awards Gala
4th January 2023 We are delighted to announce that Popovici Nițu Stoica & Asociații won the prestigious “Best Real Estate Law Firm of the Year” distinction at the CIJ Awards Gala, a hallmark event that took place on December 8, 2022 at the Radisson Blu Hotel in Bucharest.PNSA advised Electromontaj on the acquisition of Hidroconstructia and ABC Asigurari Reasigurari
1st December 2022 PNSA advised Electromontaj, the energy construction market leader in Romania, on the acquisition of Hidroconstructia, the largest Romanian company specialized in the field of hydropower and hydrotechnical constructions. The transaction also includes the subsidiaries of Hidroconstructia, namely ABC Asigurari Reasigurari, Hidroturism and Hidroedil.Pavăl Holding acquires U Center 1
10th November 2022 PNSA advised PAVĂL HOLDING, the holding company of DEDEMAN, the biggest Romanian entrepreneurial company, on the acquisition of U Center 1 - the first phase of the U Center office project in Bucharest, from Forte Partners. U Center 1 comprises a modern 8 floor-office building with a GLA of around 30k sqm of A-class premises leased to top tier tenants like Endava, Booking, Banca Transilvania.PNSA advised Dr. Leahu Dental Clinics Network on the acquisition of CORIDENT PRO Clinic
7th December 2020PNSA advised Dr. Leahu Dental Clinics Network on the acquisition of CORIDENT PRO Clinic from Sibiu.
PNSA advised Orange on the acquisition of a majority stake in Telekom Romania Communications
24th November 2020PNSA advised Orange Group on the acquisition of a 54% controlling stake in Telekom Romania Communication, one of Romania's leading fixed telecom operators.
POPOVICI NIȚU STOICA & ASOCIAȚII names Raluca Rusu as Tax Partner
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.PNSA alongside BRD – Groupe Société Générale in its investment in CIT One
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.PNSA obtained the enforcement of EU subsidies due to farmers
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.PNSA welcomes Andrada Pleș as Tax Manager
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.PNSA advised Burda Group on the sale of its business in Romania
23rd September 2020 PNSA and PNSA Tax advised Burda Group on the sale of its business in Romania.WDP acquires three new logistics centres
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:PNSA in the deal through which Auchan shall operate 400 MyAuchan stores within OMV Petrom stations
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.PNSA in one of the largest real estate deals in the West part of Romania in 2020
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.Anti-corruption compliance concerns & best practices in time of COVID-19
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.About strategic businesses during the COVID-19 pandemic
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.The aftermath of COVID-19 outbreak – Practicing social distancing during AGMS of listed companies
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”).COVID-19: Real Estate market implications. Particular insights into Lease Agreements
24th March 2020 1. Introductory aspectsSince 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.
State aid amid COVID-19 outbreak
24th March 2020 PNSA COVID-19 Legal Response TeamCOVID-19: Arbitration – Where to?
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.Coronavirus & competition. Breach of Competition Law? “Price gouging” or not?
24th March 2020 First one: Coronavirus & competition – any potential link?Oresa sales Somaco to LafargeHolcim
19th July 2019PNSA advised the Swedish investment fund Oresa on the sale of Somaco, one of the leading precast concrete producers in Romania, to LafargeHolcim.
PNSA advised Ameropa Group on a €324 million syndicated financing
19th July 2019PNSA 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.
OPTIblue and Klarmann to be taken over by Innova Capital
19th July 2019OPTIblue 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.
PNSA advised an Irish financial institution on a EUR 30,000,000 financing
15th July 2019PNSA 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.
PNSA advised Magnetto Wheels on a new significant financing
15th July 2019PNSA 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.
PNSA advised Dedeman on a new landmark transaction – acquisition of The Office in Cluj-Napoca, in
16th May 2019Data Privacy Impact Assessment at a glance / All you need to know
13th February 2018By Alexandru Ambrozie, Partner Popovici Niţu Stoica & Asociaţii and Luana Dragomirescu, Managing Associate Popovici Niţu Stoica & Asociaţii
Enforcement and Sanctions under the GDPR
13th February 2018By Alexandru Ambrozie, Partner Popovici Niţu Stoica & Asociaţii and Luana Dragomirescu, Managing Associate Popovici Niţu Stoica & Asociaţii
New Partners with POPOVICI NIŢU STOICA & ASOCIAŢII
15th January 2018January 2018
POPOVICI NIȚU STOICA & ASOCIAȚII promotes three lawyers to partnership.
GDPR: Relations and responsibilities in the processing of personal data
16th November 2017GDPR: 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.
Strengthening the Fight against Money Laundering and Terrorism Financing
10th November 2017Laundered 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”,
The clock is ticking. Implementing the General Data Protection Regulation
10th November 2017With 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.
Companies are welcoming a new team player – the Data Protection Officer
10th November 2017The 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.
Recent changes to the Labour Code. Tougher rules aimed to tackle undeclared work
10th November 2017By 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 Developments
Criminal liability of corporations – Global vs Romanian approach
12th September 2019Criminal 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.