Nestor Nestor Diculescu Kingston Petersen > Bucharest, Romania > Firm Profile

Nestor Nestor Diculescu Kingston Petersen
201 BARBU VACARESCU STREET, 18TH FLOOR
GLOBALWORTH TOWER, 2ND DISTRICT
020276 BUCHAREST
Romania

Romania > Banking and finance Tier 1

Nestor Nestor Diculescu Kingston Petersen handles the gamut of banking and finance matters, ranging from domestic and international syndicated loans to large-scale financing mandates. The team is adept at representing lenders and borrowers in a broad range of sectors, including agribusiness, real estate, pharmaceutical and automotive entities. The group is also sought after by prominent banks with business operations in Romania. Alina Radu is a highly regarded practitioner in the space; she co-heads the practice with senior partner Manuela Nestor. Valentin Voinescu focuses on transactional matters, project finance and structured finance. Alexandru Ciambur is a name to note.

Practice head(s):

Manuela Nestor; Alina Radu

Other key lawyers:

Testimonials

‘NNDKP is a strong partner to help you with any transaction, no matter how complex it could be. They deliver always on time and with a highly level of professionalism. They have a practical approach always finding the best and feasible solution for you, which works in real life, not only in theory.’

‘Alina Radu – Partner is a highly qualified lawyer and a wonderful person. She can address easily any obstacle that could appear in a transaction and she has excellent communication skills.’

‘Extensive expertise and skills in respect of the local banking and finance market. Relevant track record on complex transactions.’

‘Very helpful, innovative and providing fast execution.’

‘As always the firm was outstanding. Went above and beyond.’

‘Real professionals in all aspects. Calm and patient.’

Key clients

Banca Comercială Română S.A.

Raiffeisen Bank S.A.

ING Bank NV Amsterdam – Sucursala Bucuresti

Unicredit Bank S.A.

OTP Bank S.A.

Banca Transilvania S.A.

Alpha Bank Romania S.A.

BRD Groupe Societe Generale S.A.

Banca Comerciala Intesa Sanpaolo Romania S.A.

Garanti Bank S.A.

First Bank S.A.

Impact Developer & Contractor SA

Globalworth Group

Aaylex One S.A.

Evofarm (Marcos Provit S.A.)

Work highlights

  • Advised a syndicate of nine local and foreign banks on a €550m refinancing and financing of certain companies of the Ameropa Group.
  • Advised Globalworth on a €110m refinancing granted by Banca Comerciala Romana and Erste Group Bank to five companies within the Globalworth group.
  • Assisted OTP Bank Romania and OTP Group with a €57.8m financing for Exigent Property Investment to fund the development of phase 5 of Exigent Plaza Residence.

Romania > Commercial, corporate and M&A Tier 1

Nestor Nestor Diculescu Kingston Petersen‘s seasoned corporate and M&A department is a top choice for clients in a range of key industries in Romania. Adriana Gaspar led the advice to Grupo Bimbo on its expansion into Romania through its $180m acquisition of Vel Pitar; she co-heads the practice with Gabriela Cacerea, who has over 20 years of experience in domestic and cross-border M&A, corporate restructurings, private equity transactions, privatisations and joint ventures; Ruxandra Bologa, who has a solid track record in representing prominent energy sector clients; and Adina Chilim-Dumitriu, who handles a broad range of corporate and M&A matters. Other names to note include Razvan Vlad, Corina Dumitru, and counsels Madalina Panca and Mirela Preda.

Practice head(s):

Adriana Gaspar; Gabriela Cacerea; Ruxandra Bologa; Adina Chilim-Dumitriu

Other key lawyers:

Testimonials

‘I consider NNDKP to be the best law firm in Romania. They manage to cover all the legal aspects a firm needs. Their specialised departments with their excellent lawyers gave us the comfort that we work with the right law firm.’

‘Ruxandra Bologa always demonstrated a thorough understanding of the case through comprehensive research. I also appreciated that she is always a direct person and self confident.’

‘The aspect that sets this company apart is the meticulous analysis you have on everything. Even if you seem to know everything in a field you have been managing for a long time, this law firm always brings a new breadth and a new element of knowledge to the field we work in.’

‘Definitely top law firm in Romania on industry knowledge.’

‘Ruxandra Bologa – tough M&A lawyer with high technical skills; her perseverance makes a difference in transactions.’

‘Very strong expertise, thinking outside the box, swift response, proactive approach to client needs, loyalty to clients, business ethics.’

‘Ruxandra Bologa – brilliant lawyer, thinking outside the box, dedicated to client success.’

Mirela Preda – very smart, efficient & hard working lawyer.’

Key clients

BB Global Investing Holding, S.L (part of Grupo Bimbo)

OMV Petrom

BioIVT

DHL

Nippon Express Holdings, Inc.

Holcim

Cancom SE

Ophir

Plexus

Smithfield Foods

Work highlights

  • Advised Grupo Bimbo on its $180m acquisition of Vel Pitar.
  • Assisted Nippon Express Holdings with acquiring the shares of multiple subsidiaries of Cargo-Partner Group Holding.
  • Advised Cancom on its acquisition of K-Businesscom-Group and all its subsidiaries.

Romania > Dispute resolution Tier 1

Full-service firm Nestor Nestor Diculescu Kingston Petersen has a strong offering in dispute resolution. The team garners praise for providing 'tailored solutions and outstanding strategies' in relation to a broad range of work. Ana Diculescu-Sova, who heads up the practice, is very highly regarded for her expertise in handling complex litigation. The group's workload includes high-profile class actions and longrunning, complex arbitration cases. Other key practitioners include Sorina Olaru, who has an excellent track record in assisting with arbitration; Valeriu Mina, who specialises in FIDIC-related disputes; and Emil Bivolaru and Marius Ezer.

Practice head(s):

Ana Diculescu-Sova

Other key lawyers:

Sorina Olaru; Emil Bivolaru; Valeriu Mina; Marius Ezer; Daniela Gramaticescu; Ioana Cioclei; Daniela Savin; Alexandru Lacureanu

Testimonials

‘The level of professionalism and the strong and well-known expertise on the market in dealing with complex high-stakes litigation matters are the main pillars of the dispute resolution practice within NNDKP. At every step of our collaboration, they provided great support and came up with tailored solutions and outstanding strategies that reassured us that our interests are protected. We feel extremely confident to know that our legal needs are in the right hands.’

‘Emil Bivolaru has been our partner for so many years now. He is one of the best litigators I have ever worked with in Romania, with more than two decades of experience. We really appreciate him for his strategic thinking and commitment to always achieving the best results. He offers valuable legal insights, and I am always impressed by his practical approach in every matter I bring to the table. I have great confidence in his work.’

‘Daniela Gramaticescu and Alexandru Lacureanu are very inventive and very professional.’

‘ NNDKP`s dispute resolution team is undoubtedly one of the strongest on the Romanian market, with impressive knowledge and expertise, particularly in the field of real estate and construction. They have all the necessary assets to handle any type of arbitration or litigation work. Throughout our collaboration, they have provided outstanding services, with both strategic and out-of-the-box solutions, perfectly tailored to our needs. The team`s core strengths which make them stand out on the market include – flexibility, cohesion, promptness, and the ability to handle complex matters. For us, these qualities strengthen our confidence that we have the most reliable partner for the challenges we encounter.’

‘The team offers exceptional expertise in contentious and non-contentious restructuring and insolvency matters. What makes them stand out is their excellent strategic thinking wrapped up in a down-to-earth approach. They understand the client’s business and can work out innovative solutions tailored to the client’s unique needs. We are happy to have them on our side.’

‘The size and deep specialization of their litigation team is what makes them stand out. They are a highly skilled and experienced group of litigators, who can accurately point out the strengths and weaknesses of a case and build effective legal strategies. They offer not only excellent legal skills and in-depth knowledge of the law, but also commercial awareness, being attuned to our business needs. I am confident that they can handle any legal challenge that comes their way.’

‘Valeriu Mina is an exceptional litigator, with a vast experience in arbitration cases. He has been extremely valuable in our arbitration disputes as he brings extensive technical expertise to a case. He is very meticulous in his work, results-oriented, explains matters in a clear and concise manner and provides well thought-out advice. He is also easy to work with and very committed to our cases.’

‘The dispute resolution team at NNDKP is nothing short of impressive. From junior to senior positions, they are extremely diligent and very well prepared. Their strength lies in the size of their team and the firm grasp of the law. They are very professional in everything they do, experts at breaking down complex legal issues and putting together the most effective strategies. I am very satisfied with their legal work and the level of service has always been very high. They always go the extra mile to meet our needs.’

Key clients

Euroins PLC and Euroins Romania Asigurare-Reasigurare SA

Carmeuse Holding SRL

Agricola

Alro SA Slatina

Lagardere

Elcen

Porr

Wizz Air

VCE Viena

Enel Distribution

REC Immpuls Luxemburger Team

Schlumberger

Engie

Work highlights

  • Representing Euroins Romania Asigurare-Reasigurare and its major shareholder Euroins in litigation concerning a decision issued by the State Authority for Financial Supervision (ASF).
  • Advising a real estate developer in Romania and Eastern Europe on a potential €100m damages claim against the Romanian State.
  • Advising ELCEN Constanta on a damages claim brought against Constanta City Hall and Constanta municipality.

Romania > Employment Tier 1

Nestor Nestor Diculescu Kingston Petersen‘s employment team ‘has profound professional knowledge‘ of labour and employment matters, both standalone and as a part of interdisciplinary projects. From its offices in Bucharest, Timisoara and Cluj-Napoca, it serves a number of high-profile multinational clients, providing both ongoing employment law advice and support in complex, sensitive matters such as disciplinary investigations. Team head Roxana Abrasu is recommended for her ‘deep expertise in labour law‘; she is supported by a specialised team including Gabriela Dinu, whose experience runs the gamut of employment matters; Ionut Stancu, who is praised for his ‘strong expertise’ in the area; Flavia Danciulescu, noted by clients for her ‘proficiency and dedication’; and Daniel Stancescu, whose expertise spans both contentious and noncontentious matters.

Practice head(s):

Roxana Abrasu

Testimonials

‘Approachable, able to explain the risks in a comprehensible way for non-legal people.’

‘Ionut Stancu & Daniel Stancescu listen to the problem, ask pertinent questions, analyse all options & risks, explaining each aspect with reasonable pros & cons.’

‘All the lawyers we have had the pleasure to work with are accomplished professionals: the level of knowledge they have in their field is impressive.’

‘ The NNDKP team has profound professional knowledge. It is very flexible and creates dynamic interdisciplinary teams for various complex topics tailored to the client’s needs.

‘The team embodies professionalism, comprising experts in their respective fields who bring a wealth of experience to the table.’

‘Standout partners like Roxana Abrasu bring deep expertise in labour law, while sr. associates like Flavia Danciulescu have played key roles in multiple projects, showcasing their proficiency and dedication.’

‘What stands out in collaboration with NNDKP is how customer-oriented they are. They are prompt, straight to the point, always providing 360 degrees perspective on employment topics.’

‘I have worked closely with Ionut Stancu and always appreciated his prompt response and guidance on legal matters. I would recommend Ionut as a very good professional with  strong expertise in employment law.’

Work highlights

  • Advised a telecom operator in a very sensitive project involving the implementation of a collective dismissal process.
  • Advised a multinational food and beverage company on the collective negotiation of the collective bargaining agreement and assisted the client in several TUPE transactions.

Romania > Energy and natural resources Tier 1

The energy and natural resources practice at Nestor Nestor Diculescu Kingston Petersen ‘delivers excellent services efficiently‘, handling a variety of matters in the sector including M&A, privatisations, the structuring and development of greenfield and brownfield projects, and regulatory matters. Praised for its ‘in-depth knowledge of the energy industry‘, the team is experienced in conventional electricity, renewable energy, and oil & gas work. Gabriela Cacerea, particularly experienced in the transition to clean energy and decarbonisation, co-leads the team with Ruxandra Bologa, whom clients recognise for her ‘refined knowledge of energy legislations’. Mirela Preda is recommended for onshore and offshore natural gas and oil projects.

Practice head(s):

Gabriela Cacerea; Ruxandra Bologa

Other key lawyers:

Mirela Preda; Mihai Fifoiu

Testimonials

‘NNDKP have in-depth knowledge of the energy industry in Romania.’

‘Mihai Fifoiu and Gabriela Cacerea have provided excellent service.’

‘I really appreciate the excellent expertise of the Team and the professionalism of the individuals’

‘Ruxandra Bologa is a real leader of her team. Her expertise in all aspects related to natural resources is amazing .’

‘The NNDKP’s team is involved in complex oil and gas projects where they have to face constantly new demands of the business.’

‘NNDKP delivers excellent services efficiently and in a way that’s practical in order for a project to achieve completion.’

‘Ruxandra Bologa has a sharp mind and she has the ability to reason at a very sophisticated level with the intricacies of the complex oil and gas projects.’

‘Excellent legal services in terms of client relationship, responsiveness and soundness of legal advice.’

Key clients

OMV Petrom S.A.

Emergy

Enel

Nordex

Deva Gold

ExxonMobil Development Company

Alternus Energy

Holcim

MOL

Engie

PepsiCo

Work highlights

  • Assisted OMV Petrom SA in connection with the first deep offshore petroleum project in Romania.
  • Providing continuous assistance to Emergy in the wind parks permitting and development process.
  • Advised PepsiCo on the acquisition of a minority shareholding in Carpathian Springs (Aqua Carpatica) and its US and UK subsidiaries.

Romania > EU and competition Tier 1

Full-service law firm Nestor Nestor Diculescu Kingston Petersen has longstanding experience in the EU and competition space in Romania. The practice is home to a 'great competition law team with a good understanding of the market'. The group is well known for advising on all M&A-related competition matters, and has established strength in representing clients in investigations brought by the Romanian Competition Authority. The 'very resourceful' Anca Diaconu heads up the practice; the highly experienced practitioner Georgeta Dinu is now of counsel at the firm.

Practice head(s):

Anca Diaconu

Other key lawyers:

Georgeta Dinu; Andra Grozavu

Testimonials

‘A dynamic team.’

‘They have a desire to understand the business area in which the client operates, so that advice is tailored and not just general legal advice/solutions.’

‘Great competition law team with a good understanding of the market.’

‘Anca Diaconu is a young and aspiring partner.’

‘Anca Diaconu has been a dedicated member of the team, leading the associates, and guiding us directly. We’ve appreciated the input and dedication, the preventive measures given by all departments within the law firm for the best, fairest, and safest results in pursuing our plan. Andra Grozavu followed in her footsteps, contouring to be as capable as the partner, ensuring the perpetual development of the team, bringing in new, capable additions so that they could deliver more, better services to us and new clients as well.’

‘Nestor Nestor Diculescu Kingston Petersen team stands out from other lawyers in the market due to their vast experience and deep understanding of the business needs of the clients.’

‘Anca Diaconu is a very resourceful lawyer and her legal advice is always extremely clear, helpful and practical.’

Key clients

PepsiCo

Kedrion SpA

Egger Romania

Roche Romania

Renania

The Romanian Brewers Association

Auchan

Mega Image (Ahold Delhaize Group)

Grupo Bimbo

Globalworth

Work highlights

  • Assisted Renania Trade with the competition authority’s investigation into alleged price fixing and market sharing in the personal protection equipment market.
  • Assisted The Romanian Brewers Association with the EU and competition aspects of the implementation of the deposit-return system for primary non-reusable packaging in Romania.
  • Advised Grupo Bimbo on the competition aspects of its entry into the Romanian market through the acquisition of local bakery Vel Pitar.

Romania > PPP and procurement Tier 1

The public procurement and PPP team at the ‘outstanding law firmNestor Nestor Diculescu Kingston Petersen harnesses its longstanding experience in the sector to further infrastructure growth in Romania. It has notable experience in road, railway, and water treatment infrastructure alongside projects related to the construction of regional hospitals and airport facilities. The firm has hubs in Bucharest, Cluj-Napoca and Timisoara, and is able to tailor advice to the specifics of local markets.  The ‘smart, transparent and reliableAdina Chilim-Dumitriu co-heads the practice group with Adriana Gaspar. Alexandru Aman is a ‘go-to person when it comes to facing any legal matter concerning‘ PPP and procurement’.

Practice head(s):

Adina Chilim-Dumitriu; Adriana I. Gaspar

Other key lawyers:

Razvan Vlad; Alexandru Aman; Cristian Dranca

Testimonials

‘From our perspective, NNDKP is an outstanding law firm. NNDKP has successfully rendered legal advice in public procurement to our company for years with excellent outcomes in many court files which were of paramount importance for our company.’

‘The people who work at NNDKP’s procurement department are highly skilled and extremely committed lawyers.’

‘We would like to emphasize their deep understanding of our business (i.e. infrastructure and construction), which translates into effective communication with our internal stakeholders and, ultimately, the provision of innovative solutions.’

‘Adina Chilim-Dumitriu is smart, transparent and reliable. We deem her an inspiration for younger lawyers.’

‘Alexandru Aman is both intelligent and pragmatic, always available when it comes to taking care of the legal issues we face. He has a deep knowledge of public procurement and is extraordinarily committed to our company.’

‘Adina Chilim-Dumitriu is an exceptional lawyer. She has guided and assisted us in the most important business expansion projects and we always 100% rely on her opinion and legal advice.’

‘A very wide range of legal aspects are handled at the firm, with partners in many different domains and industries.’

Key clients

FCC Construccion S.A.

Trencadis Corp SRL

PORR Construct SRL

Kontron Transportation

Work highlights

  • Advised FCC CONSTRUCCION SA during the various stages of its participation in several major public procurement procedures for several major railroad modernization and rehabilitation contracts.
  • Assisted and represented Trencadis Corp SRL in public procurement-related litigation including the successful challenging of the unlawful award of an important contract to a competitor.
  • Assisted FCC Construccion S.A. with successfully challenging the award documentation of several large public procurement procedures containing illegal provisions.

Romania > Real estate and construction Tier 1

The ‘experienced and knowledgeable‘ real estate and construction team at Nestor Nestor Diculescu Kingston Petersen fields a three-partner practice exclusively focused on real estate. Alongside existing strength in the industrial, residential, leasing, retail and permitting sectors. The team is also growing its work in agribusiness and forestry, including renewable energy projects. Ioana Niculeasa heads up the practice, with experience supporting international, high-profile clients. 'Wizard of the leasing businessVlad Tanase handles the development of large-scale projects for industrial players and energy companies. Also recommended is Lavinia Ionita-Rasmussen who 'stands out through her sense of business and vision during real estate transactions'.

Practice head(s):

Ioana Niculeasa

Other key lawyers:

Testimonials

‘NNDKP has a strong real estate team with quality leasing market knowledge and very good people depth that allows them to quickly meet our needs.’

‘Vlad Tanase is the wizard of the leasing business with strong business acumen. He always gets the deal done no matter how rough or complex challenges are and never loses sight of the overall picture.’

‘Flavia Petcu is appreciated for her hard work and commitment.’

‘NNDKP’s real estate and construction team is very experienced and knowledgeable.’

‘Ioana Niculeasa is an expert in real estate. She is thorough and strives to identify the best solutions available.’

‘Lavinia Rasmussen works tirelessly to ensure a favourable commercial position for her clients.’

‘Lavinia Ionita-Rasmussen’s ability to manage a team of lawyers in a way that satisfies both the legal requirements and the scope of the transaction is exceptional.’

‘Lavinia Ionita-Rasmussen stands out through her sense of business and vision during real estate transactions. She brings her exceptional understanding of the business with her knowledge of legal acumen and provides tailor-made solutions for the transaction to happen or for the problem to be solved.’

Key clients

Globalworth Real Estate Limited

CTP

Forte Partners

AFI Europe

Global Vision

Ascom International

Centrul Medical Unirea

Bluehouse Capital

Ingleby Romania

Holcim

Emergy

Aukera BV

Griro SA

Portland Trust

Weisenburger Real Estate Romania

Work highlights

  • Advised Centrul Medical Unirea on a large-scale transaction involving the acquisition of  30,000 sq m of land and the future development of a unique mixed-use project.
  • Advised Ascom International and Aloref on drafting and negotiating the preliminary agreement for the acquisition by Nokian Tyres of a land plot of approx. 50 ha in Oradea.
  • Advised Auchan on the largest expansion process undertaken by the group in South-East Europe. Including legal investigations on its locations and contract negotiations for the operation of its locations.

Romania > Restructuring and insolvency Tier 1

Nestor Nestor Diculescu Kingston Petersen's restructuring and insolvency team 'stands out in the local market'. On the contentious side, the 'tactically and strategically brilliant' Emil Bivolaru, dispute resolution specialist Sorina Olaru, and Marius Ezer handle a wide range of disputes in the space, while Alina Radu and Valentin Voinescu are key names for non-contentious matters. Key areas of instruction include debt restructurings, insolvency proceedings and non-performing loan portfolios. Senior partners Manuela Nestor and Ana Diculescu-Sova jointly head up the practice.

Practice head(s):

Manuela Nestor; Ana Diculescu-Sova

Testimonials

‘NNDKP’s restructuring and insolvency team stands out in the local market. Their strong expertise and outstanding commitment to preparing the most effective strategy and achieving the best outcome for the client are valuable assets of the firm. Also, they have been very responsive and prompt in clarifying any legal matters of concern to us, throughout our collaboration. It has been a pleasure to work with them.’

‘Our excellent collaboration with Emil Bivolaru goes back a long way. He is a first-rate advisor and a hands-on partner for restructuring and insolvency. His practical approach and his ability to provide comprehensive and tailored solutions in critical situations enabled us to successfully navigate the intricacies of corporate restructuring and insolvency. He has been of tremendous help to us, and I have full confidence in his legal expertise.’

‘Their ability to find solutions when things get complicated, and their excellent level of service make them stand out in the litigation services market. They are very well-prepared to manage high-stakes cases and can distribute the right resources to oversee the legal matters entrusted to them, forming highly effective cross-disciplinary teams when needed. I also appreciate that fact that they keep us in the loop every step of the way, making sure we are up to date with the latest case developments. This makes it so much easier to collaborate with them and helps us have a clear idea of where we stand and what we can expect going forward.’

‘Emil Bivolaru is an excellent litigator with an impressive commitment to strong performance. He is tactically and strategically brilliant and very good at zeroing in on the key aspects that can tilt the balance in the client’s favour. On top of that, he has fantastic project management skills. Our collaboration with him has always been smooth and effortless. I highly recommend him for any type of litigation work.’

Key clients

Euroins Romania Asigurare-Reasigurare SA

BRD Group Societe Generale

Arlynn Limited

Peris SA

MTU Maintenance Lease Services BV

Electrocentrale Constanta

OMV Petrom SA

Altex Romania SA

Huincas Limited (part of Argo Capital Group)

Romania > Tax Tier 1

The tax advisory service at Nestor Nestor Diculescu Kingston Petersen operates out of the firm’s bases in Bucharest, Timişoara and Cluj-Napoca, supporting clients across the country and internationally. The firm’s specialised fiscal and dispute resolution centre, the NNDKP Center of Excellence in Fiscal Disputes, works closely with the numerous tax consultants in the team to provide comprehensive contentious and non-contentious support for clients. Co-heads Alina Timofti and Marius Ionescu are go-to team members for contentious matters, while Silviu Badescu is recommended for investments, tax reviews, and direct and indirect taxation matters. Alexandru Aparaschivei heads the firm’s VAT department.

Practice head(s):

Alina Timofti; Marius Ionescu

Other key lawyers:

Testimonials

‘This practice is making a difference through its dedicated and skillful people. ’

‘Silviu Badescu has a great fiscal and accounting background, and a client oriented attitude.’

Key clients

Asociatia Berarii Romaniei (Romanian Brewers Association)

Work highlights

Romania > TMT Tier 1

A very professional practice that has continuously provided high quality services‘, the TMT team at Nestor Nestor Diculescu Kingston Petersen is experienced in the authorisation of public networks and electronic communication services providers in the Romanian market. The team provides both day-to-day advisory services in regard to a client’s regulatory needs, and representation in front of the relevant authorities. Its expertise includes a notable niche in cloud computing related matters. Co-lead Iurie Cojocaru is the go-to for data protection matters. Adina Chilim-Dumitriu, who also co-leads, is experienced across telecom, IT, and media regulatory matters. Alina Boureanu has standout experience in the telecom field.

Practice head(s):

Adina Chilim-Dumitriu; Iurie Cojocaru

Other key lawyers:

Testimonials

‘Nestor Nestor Diculescu Kingston Petersen is a very professional practice that has continuously provided high quality services. Their strong ability to assist our company in a timely and efficient manner makes every client feel like a priority. With outstanding work ethics and knowledgeable partners and associates, they stand out as a law firm.’

‘Throughout our collaboration, Iurie Cojocaru has showed superior research skills which have benefited our firm immensely. He is able to thoroughly understand our business and formulate effective strategies. Moreover, we highly appreciate his effectiveness in task management, his persuasive and communication skills, as well as his constant strive to further educate and improve himself. ’

‘The team is experienced in the IT market and was able to provide practical information. We received immediate support without wasting valuable time. We completed the project with the desired result on time. ’

‘With Alina Boureanu as our main contact, we had excellent support at all times. She has solid experience and knowledge in the area of information technology, especially when it comes to public sector constellations. She exceeded all expectations.’

‘The team is very capable and has had experience in every task we have asked of them.’

Key clients

Orange Romania

British Telecom

AT&T

Google

Ericsson

Meta (Facebook)

NTT

Vonage

Work highlights

Romania > TMT: gambling law Tier 2

Nestor Nestor Diculescu Kingston Petersen’s well-established gambling practice is recommended for its ‘in-depth understanding of the nuances and complexities within the gambling industry’s legal landscape‘. Combining its longstanding experience in the sector with cross-practice support from the firm’s tax team, the group provides integrated advice to gaming industry clients across licensing, compliance, enforcement, and interpretation of relevant legislation. Gabriela Cacerea and Ruxandra Bologa co-head the team, and are experienced in the corporate needs of gaming clients. Mihai Fifoiu is noted for his ‘mastery of the nuances and complexities’ within the sector.

Practice head(s):

Gabriela Cacerea; Ruxandra Bologa

Other key lawyers:

Testimonials

‘Nestor is a specialised law firm in the field of gambling law. We believe that this specialisation allows the firm to possess an in-depth understanding of the nuances and complexities within the gambling industry’s legal landscape.’

‘With years of experience serving clients in the gambling sector, the firm has accumulated extensive industry-specific knowledge. This insight encompasses not only legal matters but also an understanding of market dynamics, emerging trends, and regulatory changes that directly impact clients, which we believe is a must when advising on compliance matters.’

‘Mihai Fifoiu possesses an exceptional depth of knowledge and expertise in gambling law that extends well beyond surface-level understanding. Their mastery of the nuances and complexities within the gambling industry’s legal framework sets them apart as a true specialist in this field.’

‘They are a dedicated team and have always resolved our doubts with clarity, keeping us informed of any changes that may affect us.’

Work highlights

Romania > Intellectual property Tier 3

Working in partnership with the firm’s corporate and dispute resolution departments, the IP team at Nestor Nestor Diculescu Kingston Petersen is led by Florina Firaru, a dedicated IP law professional with significant experience in the area. Clients include both foreign and domestic companies in a range of industries, with tech, food retail and distribution being areas of recent activity. Dariana Istrate is a supporting contact to note.

Practice head(s):

Florina Firaru

Other key lawyers:

Sorina Olaru; Dariana Istrate

Testimonials

‘NNDKP has a good customer account management, they respond quickly to requests, with professional communication.’

‘It was clear to me that they have well-established procedures and everyone has their role in providing the service.’

‘I have worked with NNDKP in a litigation matter where a third party has registered and used our client’s trademarks in bad faith. NNDKP’s team was responsive in communication and tactically skilled in negotiations with the other side.’

‘NNKDP has always been committed to outstanding legal services and exceptional client relationship management. Guided by these principles, over the years they have shown that geographical boundaries are no longer the limits of their clients’ interactions. Thus, together with their colleagues, they joined forces who share the same vision and approach when it comes to offering the most appropriate legal support for clients’ business interests, wherever they arise.’

‘Dariana Istrate is well experienced in the area of intellectual property. She is fully involved in any common project, providing high professionalism, qualification, understanding of the needs and excellent technical skills. She has friendly approach to clients and timely and efficient performance of assigned tasks.’

Key clients

Zentiva KS, Zentiva SA

Work highlights

Nestor Nestor Diculescu Kingston Petersen (NNDKP) is a promoter of business law in Romania and has been acknowledged, for more than 30 years, as a pioneer of the Romanian legal market. NNDKP offers full-service and integrated legal and tax advice to companies from diverse industry sectors. For the past three decades, NNDKP lawyers have provided expertise in landmark deals and projects in Romania, contributing to the evolution of the Romanian business environment, including in innovative and niche economic sectors that involved both international corporations and local entrepreneurs.

NNDKP’s team brings together knowledgeable, talented and dedicated lawyers and tax advisors active in Romania, with an impressive track record that reflects a mix of industry insights, courtroom experience and practical business sense.  Over 120 lawyers, tax and IP counsellors and over 50 business services professionals form one of the largest and most respected teams of independent professional services providers in Romania. We are on the ground where needed, working either from our headquarters in Bucharest or from our regional offices located in Timisoara and Cluj-Napoca, important economic, academic and social hubs in Romania.

To continuously add value to the services that would benefit our clients, NNDKP has established strong connections with leading international law firms and high-profile professional networks. On the local market, NNDKP has formed alliances with non-legal advisers with deep knowledge of the Romanian market to help clients pursue their business interests including outside the legal spectrum.

Committed to constant advancement and enhanced performance, NNDKP formalized in 2019 its Center of Excellence in Fiscal Disputes (or NNDKP CELF), an initiative built with the aim to provide integrated services to the company’s clients from the initial stage of a fiscal dispute until the litigation stage before Romanian courts, offering a seamless approach throughout the fiscal dispute. Clients benefit from the very first moment from complete professional services covering both fiscal and legal aspects, in the unwanted scenario of a fiscal dispute, thanks to the involvement of a mixed team of professionals in each project, that includes highly experienced tax consultants and dispute resolution lawyers.

In 2021, NNDKP has set up Act for Ethics, a legal and tax hub dedicated to business ethics and compliance regarding the Whistleblowers’ Directive. Act for Ethics is, at the same time, a space for information and debate which, at present, integrates the corporate governance, labour and data protection competencies required to assess compliance with the legislation (in-the-making) on the protection of persons reporting in the public interest.

In over three decades of practice, we have fostered a culture of continuous improvement to meet our clients’ needs and to adapt to a fast-changing economic landscape. As a pioneer of business law in Romania, we have also embraced technology and implemented tools to increase efficiency in the fields of information management, knowledge management, business development and finance. We are constantly looking for new feasible ways to evolve and adapt, for the direct benefit of our teams and clients.

Areas of practice: Along the years, we have expanded our practice areas to cover virtually all key areas of business law and to keep pace with clients’ evolving businesses. Our expertise covers: advertising, banking and finance, capital markets, competition and state aid, consumer protection, corporate / M&A and commercial, data protection, dispute resolution, employment, energy and natural resources, environment, EU law, gaming, immigration, insurance and private pensions, intellectual property, pharmaceuticals and healthcare, infrastructure, public procurement and PPP, real estate and construction, tax and telecommunications and media.

Industry wise, we frequently act in matters related to agribusiness, automotive, aviation, aerospace and defence, financial sector, healthcare, infrastructure and construction, IT and technology, manufacturing, mining, oil and gas, power and utilities, renewables, retail and consumer goods, transport and logistics.

Department Name Email Telephone
Banking and finance Manuela Nestor manuela.nestor@nndkp.ro
Banking and finance Alina Radu alina.radu@nndkp.ro
Capital markets Manuela Nestor manuela.nestor@nndkp.ro
Competition and state aid Anca Diaconu anca.diaconu@nndkp.ro
Corporate/M&A Adriana Gaspar adriana.gaspar@nndkp.ro
Corporate/M&A Adina Chilim-Dumitriu adina.chilim-dumitriu@nndkp.ro
Corporate/M&A Gabriela Cacerea gabriela.cacerea@nndkp.ro
Corporate/M&A Ruxandra Bologa ruxandra.bologa@nndkp.ro
Data Protection Iurie Cojocaru iurie.cojocaru@nndkp.ro
Dispute resolution Ana Diculescu-Sova ana.diculescu@nndkp.ro
Employment Roxana Abrasu roxana.abrasu@nndkp.ro
Energy Gabriela Cacerea gabriela.cacerea@nndkp.ro
Energy Ruxandra Bologa ruxandra.bologa@nndkp.ro
Gaming, consumer protection Gabriela Cacerea gabriela.cacerea@nndkp.ro
Gaming, consumer protection Ruxandra Bologa ruxandra.bologa@nndkp.ro
Infrastructure and PPP Adriana Gaspar adriana.gaspar@nndkp.ro
Intellectual property Florina Firaru florina.firaru@nndkp.ro
Public procurement Adina Chilim-Dumitriu adina.chilim-dumitriu@nndkp.ro
Real estate Ioana Niculeasa ioana.niculeasa@nndkp.ro
Taxation Alina Timofti alina.timofti@nndkp.ro
Taxation Marius Ionescu marius.ionescu@nndkp.ro
Pharmaceuticals and Healthcare Gabriela Cacerea gabriela.cacerea@nndkp.ro
Pharmaceuticals and Healthcare Ruxandra Bologa ruxandra.bologa@nndkp.ro
Photo Name Position Profile
Roxana Abrasu photo Mrs Roxana Abrasu Roxana Abrasu is a Partner and Head of the Employment and Labour…
Alexandru Aparaschivei photo Mr Alexandru Aparaschivei Alexandru Aparaschivei has 18 years of professional experience and is a Tax…
Silviu Badescu photo Mr Silviu Badescu Silviu Badescu is a Tax Partner at NNDKP Tax Advisory Services. With…
Lucian Barbu photo Mr Lucian Barbu Lucian Barbu is a Tax Partner at NNDKP Tax Advisory Services. He…
Emil Bivolaru photo Mr Emil Bivolaru Emil Bivolaru is a Partner in the Dispute Resolution practice at NNDKP.…
Ruxandra Bologa photo Mrs Ruxandra Bologa Ruxandra Bologa is a Partner and Co-Head of Corporate/M&A and Energy and…
Gabriela Cacerea photo Mrs Gabriela Cacerea Gabriela Cacerea is a Partner and Co-Head of Corporate/M&A and Energy and…
Adina Chilim-Dumitriu photo Mrs Adina Chilim-Dumitriu Adina Chilim-Dumitriu is a Partner and Head of the Telecommunications and Media…
Iurie Cojocaru photo Mr Iurie Cojocaru Iurie has 17 years of experience in the legal field and heads…
Anca Diaconu photo Mrs Anca Diaconu Anca Diaconu has significant professional experience in competition, state aid and EU…
Ana Diculescu-Sova photo Mrs Ana Diculescu-Sova Ana Diculescu-Sova is a Senior Partner heading NNDKP’s Dispute Resolution Department. Her…
Georgeta Dinu photo Mrs Georgeta Dinu Georgeta started her collaboration with NNDKP in 2004. She became familiar with…
Corina Dumitru photo Mrs Corina Dumitru Corina Dumitru is a Partner in the Corporate/M&A and Public Procurement and…
Marius Ezer photo Mr Marius Ezer Marius Ezer is a Partner in the Dispute Resolution Department at NNDKP.…
Adriana Ioana Gaspar photo Mrs Adriana Ioana Gaspar Adriana Ioana Gaspar has 31 years of professional activity in the legal…
Daniela Gramaticescu photo Mrs Daniela Gramaticescu Daniela Gramaticescu is a Partner in NNDKP’s Dispute Resolution practice. She has…
Marius Ionescu photo Mr Marius Ionescu Marius Ionescu has 26 years of professional experience and is a Tax…
Lavinia Ionita-Rasmussen photo Mrs Lavinia Ionita-Rasmussen Lavinia Ionita-Rasmussen is a Partner in the Real Estate practice at NNDKP.…
Valeriu Mina photo Mr Valeriu Mina Valeriu Mina is a Partner in the Dispute Resolution practice at NNDKP.…
Ioana Niculeasa photo Mrs Ioana Niculeasa Ioana Niculeasa has over 23 years of experience in the legal field…
Sorina Olaru photo Mrs Sorina Olaru Sorina Olaru is a Partner in the Dispute Resolution practice at NNDKP.…
Oana Partenie photo Mrs Oana Partenie Oana Partenie is an Of Counsel specializing in dispute resolution matters. She…
Alina Radu photo Mrs Alina Radu Alina Radu has 26 years of professional experience and is a Partner…
Vlad Tanase photo Mr Vlad Tanase Vlad Tanase is a Partner in the Real Estate practice at NNDKP.…
Alina Timofti photo Mrs Alina Timofti Alina Timofti is a Tax Partner and Co-Head of Tax Advisory Services…
Razvan Vlad photo Mr Razvan Vlad Răzvan Vlad is a Partner in the Corporate/M&A and Public Procurement and…
Valentin Voinescu photo Mr Valentin Voinescu Valentin Voinescu is a Partner in NNDKP’s Banking and Finance practice. He…
Number of professionals : Over 120 (including partners)
English
French
The South East Europe Legal Group (SEE Legal)
Lex Mundi
World Services Group
Three Seas Legal Alliance
Contacts : Ion Nestor (ion.nestor@nndkp.ro)
Contacts : Manuela Nestor (manuela.nestor@nndkp.ro)
Other offices : Cluj-Napoca
Other offices : Timisoara

NNDKP respects, promotes and bases its success on value, including personal value and value resulted from the mix and interaction of perspectives. Thus, we have tended to and accommodated variety in every respect and at all levels, in the most natural manner.

Reflective of our belief in value, our overall teams have organically developed to comprise a diversity of groups, regardless of gender, ethnicity, religion and other distinguishing trait. That is how we have built a diverse and inclusive working environment, with equal chances for all.

NNDKP’s programmes, activities and initiatives are designed to accommodate equality and diversity and are carefully monitored and adjusted so as to pave the way for both personal and firm’s development and success, without prejudice. NNDKP’s continued policy has been to attract and retain top talent irrespective of differences. All members of our teams have benefitted from the same access to projects, training and rewards and have been encouraged to assume responsibilities and to achieve leading roles in the legal environment. We recognize individual contributions and reward professionals fairly, based on performance, accomplishments and contribution to the firm’s development.

A defining aspect of NNDKP’s corporate culture is encouraging female lawyers to achieve leading roles in the legal profession. We are a strong supporter of women and have always empowered them to reach their full potential, and this is reflected in our firm’s leadership –60% of our partners are women. At firm level, +60% of our professionals are women.

NNDKP was recognized as “Best Firm in Romania” for gender diversity three times at Euromoney’s “European Women in Business Law” Gala. The firm was also invited as expert at the “Equality Pays Off” business forum, organized as part of the European Commission’s initiative for gender diversity.

We believe that an inclusive environment creates a safe workplace, where professionals can grow. This also contributes to the quality of the services we provide to our clients, and also drives innovation and development.

A promoter of business law in Romania with over 30 years of experience on the local market, NNDKP has proven that solid knowledge, professional skills, ethics and dedication are gender and age-neutral and that success can only be based on value.

Romania

Key facts about Romania

  • Population: 19,328,838 (as of 1st of January 2020, according to the Romanian National Institute of Statistics)
  • Size: 238,397 square kilometers, approximatively the same size as the United Kingdom, place in Europe by size: 12;
  • Geographic location: South East Europe, bordering the Black Sea
  • Official language: Romanian (a latin/romance language, such as French, Spanish, Italian or Portuguese)
  • Capital: Bucharest, having 2,155,240 inhabitants (as of 1st of July 2020, according to the Romanian National Institute of Statistics)
  • Main seaports: Constanța, Mangalia
  • Currency: lei (RON). Romania however undertook the obligation to adopt the euro once the nominal, legal and real convergence criteria are fulfilled. At the moment, Romania is committed to joining the euro area, targeting the year 2024.
  • Regime: Semi-presidential republic
  • EU Membership: EU member state since 2007
  • NATO Membership: NATO member since 2004
  • Legal system: Civil law system

Introduction

Back in 2021, we were all thinking that the world is in a volatile, uncertain, complex and ambiguous state and that there is nothing else that could surprise us. It seems however that reality tends to be a better source for fiction novels than imagination itself.

Romania is no stranger to ambiguity and uncertainty, of course. Situated at the junction of deep geopolitical divides, one is almost certain to fail in making any successful predictions about Romania’s immediate future, other than the simple, evergreen, prediction: it will be something we did not (fully) anticipate.

Now Romania is facing yet another crisis, so unexpected and yet so usual and almost predictable for this part of the world. For business, it is time again to look carefully at risks, opportunities and plan for a rough but possibly very lucrative next decade. We see great things ahead for those cunning enough to seize the day.

The Romanian economy – a very quick guide

Following the end of the communist rule in 1989, Romania’s businesses have continued to grow year by year. Most recently, the turnovers of the country’s most important companies are considered to be double than those registered 10 years ago[1]. The capital city, Bucharest, draws the majority of business interest, and generates almost 38% of the total turnover in the Romanian economy. If we also count the economies along the Bucharest-Brașov route (therefore including Bucharest and Ilfov, Prahova, Brașov counties) together they amount for more than 50% of business in Romania.

According to the European Economic Forecast[2], in 2021, Romania’s economy is expected to have grown by 6.3 percent, mainly driven by strong domestic demand. As for 2022, latest readings of sentiment indicators point to a rather positive, albeit moderate, growth outlook, in particular in services, retail trade, construction and industry. Private consumption is expected to pick up in the second half of 2022 and investment is expected to remain strong, supported by the Recovery and Resilience Facility and other EU Funds, but the expected increase in private investments is projected to dampen private investments[3].

Companies’ performance in the (hopefully) last year of the pandemic

The easing of COVID-19 containment measures in the first quarters of 2021 and the companies’ experience of the previous pandemic year resulted in an increase in profits for companies active in the business services, trade, construction, real estate, manufacturing and utilities sector. Conversely, mobility restrictions brought by the Delta variant of the SARS-COV-2 virus and the decrease in aggregate demand dealt a heavy blow to services to households, mining and quarrying, while agricultural output contracted due to the weather conditions which had a negative impact on the sectors profitability[4].

The lessons of the previous global crisis seem to be looming on us as we also see a surge in the number of insolvency cases. According to the data published by the Romanian Trade Registry, the number of insolvencies has risen by 7.9 percent in 2021 compared to 2020. Hence, as the moratorium and the relaxed conditions under the insolvency legislation promoted by the Romanian government are being lifted, the postponed effects of the pandemic may now start to show.

The need for reform in the Romanian restructuring sector is now greater than ever. The issuance of legislation that would create an efficient restructuring framework is one of the measures that might prevent the occurrence in many companies of a serious state of degradation, which may cause the closing or bankruptcy thereof. As Romania is bound to transpose into national legislation the EU legislation on preventive restructuring frameworks, the Romanian legislator is now having a major opportunity to implement a wide range of legislative reforms in order to improve the options available to debtors in financial difficulty.

Romanian labour market in the past year

The pandemic has left its mark on the Romanian labour market as well, with the unemployment rate fluctuating in line with the emergence of each new wave. Against the backdrop of the easing of restrictions, the unemployment rate fell to almost 5 percent in September 2021, but was followed by a new spike in the last quarter of the year as a result of the forth wave triggered by the Omicron variant and the population’s low vaccination rate.

The Romanian labour market was nevertheless greatly supported by the authorities’ financial support for workforce retention. In early 2021, furlough schemes were reintroduced until the end of the year for the economic agents directly hit by the restrictions. Romania also benefits from EUR 4.1 billion under the EU’s programme for Support to mitigate Unemployment Ricks in an Emergency (SURE)[5].

A new challenge

The latest Inflation Report published by the National Bank of Romania in February 2022 has confirmed that the global inflation fueled by marked rises in energy, food and other non-energy commodity prices is also a reality Romania cannot escape.

The annual CPI inflation rate in Romania has stepped up significantly in the last quarter of 2021, reaching a 10-year high of 8.19 percent in December 2021. As the public health risks have persisted and the energy market strains have gained renewed momentum due to the conflictual situation in Ukraine, forecasts are not so positive either. The National Bank of Romania forecasts shows a higher annual CPI inflation rate in April, ahead of a gradual deceleration over the next quarters, when lower adjustments in energy prices are envisaged.

The National Bank of Romania has also been constantly increasing the monetary policy rate and decided to maintain firm control over money market liquidity. The current monetary policy rate is of 3 percent per annum (increased as of 6 April 2022 from a previous rate of 2.5 percent)[6].

Analysts[7] also have lowered their estimate for 2022’s economic growth to 3 percent, down half a percentage point from the previous forecast, while their inflationary expectations have continued to rise (a inflation rate for 2022 is seen at 8.03 percent currently) amid the invasion in Ukraine. As regards the euro to lei exchange rate, a depreciation of the national currency is also expected in the next 12 months, while the key interest rate established by the National Bank of Romania is anticipated to surge to at least 4.25 percent in the next 12 months.

Piece authored by Valentin Voinescu, Partner, Banking & Finance


[1] According to an analysis by the consulting company Frames.

[2] https://ec.europa.eu/info/sites/default/files/economy-finance/ip169_en.pdf

[3] Idem.

[4] Financial Stability Report of the National Bank of Romania, published in December 2021

[5] Financial Stability Report of the National Bank of Romania, published in December 2021

[6] https://www.bnr.ro/Monetary-Policy–3318-Mobile.aspx

[7] CFA Romania’s Macroeconomic Confidence Indicator survey