Firm Profile > Tuca Zbârcea & Asociatii > Bucharest, Romania

Tuca Zbârcea & Asociatii

Commercial, corporate and M&A Tier 1

Ţuca Zbârcea & Asociaţii advised a multinational telecommunications conglomerate on its multi-billion euro acquisition of another telecommunications company's operations in Germany, the Czech Republic, Hungary and Romania. In a further highlight, it assisted Keysight Technologies with a complex corporate reorganisation following the $1.6bn acquisition of the Romanian subsidiary of IXIA group. Stefan Damian, Cornel Popa and Catalin Baiculescu are the key members of the team, which covers acquisitions, dispositions, financing arrangements, joint ventures as well as corporate advisory work.

Dispute resolution Tier 1

The nine-partner practice at Ţuca Zbârcea & Asociaţii is well regarded for both domestic and international arbitration. It represents Gabriel Resources (Canada) and Gabriel Resources (Jersey) in proceedings initiated against the Romanian state regarding a proposed breach by the Romanian government of the Agreement for the Promotion and Reciprocal Protection of Investments made with Canada, Great Britain and Northern Ireland. The team also represents Alstom Transport in a dispute with CFR in relation to public acquisition contracts totalling €290m. Robert Roşu, Cornel Popa, Ioana Hrisafi-Josan and Levana Zigmund are the names to note.

Employment Tier 1

Ţuca Zbârcea & Asociaţii handles employment projects, corporate restructuring programmes, acquisitions, employee incentive programmes, social security matters and labour disputes. Serban Pâslaru heads the practice, which has been bolstered by the arrival of Codruta Maxim from Muşat & Asociaţii. Key client Telekom Romania received advice in relation to a restructuring process, including on mechanisms for a unified labour framework and assisting in negotiations with employee representatives. In another highlight, Pâslaru advised Tenaris Group on a range of day-to-day employment issues including union negotiations and harmonisation of internal procedures. Managing associate Mihai Anghel is also singled out.

Energy and natural resources Tier 1

Ţuca Zbârcea & Asociaţii handles a wide range of matters including M&A, regulatory work, financing, employment issues as well as energy sector disputes. China General Nuclear Power Group receives advice on investment plans to develop two additional nuclear units at the Cernavodă nuclear power plant. Sorin Vlădescu assists CEZ with various energy market issues. He heads the practice alongside Cornel Popa, Irina Moinescu and Cristian Radu. The team has particular expertise in the renewables, energy and power, nuclear, oil and gas and natural resources industries.

EU and competition Tier 1

Ţuca Zbârcea & Asociaţii’s practice, led by Raluca Vasilache, covers a broad range of competition-related matters, namely antitrust, merger control and state aid procedures. It represents Carrefour Group in a Romanian Competition Council investigation and acted for Energy Financing Team in a successful Court of Appeal annulment of a Competition Council sanctioning. Industries of expertise include the technology, telecoms, retail, electricity and gas, motor oil distribution and pharmaceutical sectors.

Intellectual property Tier 1

Ţuca Zbârcea & Asociaţii represented Philip Morris in seeking damages from individuals and companies who had introduced counterfeit goods into the market. It also assisted Overseas Group Impex with the sale of a business line as well as the brands attached to it. Ioana Hrisafi-Josan and Ciprian Dragomir jointly head the practice and are adept at handling counterfeiting issues, IP-related disputes and advisory work. Managing associate Bogdan Halcu is also singled out.

PPP and procurement Tier 1

Infrastructure, construction, transportation, public utilities and energy and natural resources projects form the recent caseload at Ţuca Zbârcea & Asociaţii. A notable instruction on the transportation front came from Alstom Transport Romania and Alstom Transport France in connection with a successful bid for a public procedure project financed by Programul Operational Infrastructura Mare. Serban Pâslaru led on the matter; he co-heads the practice alongside Vlad Cercel and Florentin Tuca. Cercel acted for China General Nuclear Power Corporation on its €7.2bn development of units three and four at the Cernavodă nuclear power plant.

Real estate and construction Tier 1

Ţuca Zbârcea & Asociaţii's client roster includes real estate developers, institutional and energy-sector investors, construction and infrastructure companies, public authorities and retailers. It assisted Speedwell with the acquisition of two plots of land, totalling 12,000sqm and 50,000sqm respectively. In another highlight, it carried out the due diligence on 500 locations in Romania on behalf of Vodafone in view of its acquisition of Liberty Global. Razvan Gheorghiu-TestaDan Borbely, Amalia Dumitru and Dragos Apostol are the names to note.

Restructuring and insolvency Tier 1

Ţuca Zbârcea & Asociaţii specialises in insolvency litigation, liquidations, corporate restructuring and reorganisation and debt restructuring. Ciprian Dragomir is advising Omilos Oradea, owner of the Era Park Oradea shopping mall, on its request for insolvency law protection against its creditors; the team supervised the debtor’s administration procedure. Christina Vladescu represents creditor Bancpost in relation to Creativ Proprietati Imobiliare's insolvency.

Tax Tier 1

Ţuca Zbârcea & Asociaţii fields a team of ‘highly specialised professionals’ who ‘provide the full range of legal and tax services, showing an integrated approach’. Transactional tax is a cornerstone of the practice; it advised Carrefour Romania on the tax implications of its takeover of IT application platform Bringo. Key client Deutsche Bank instructed the team in relation to tax issues pertaining to the client’s activities on the financial services market, most notably its acquisition of an NPL portfolio from Alpha Bank. Alexandru Cristea and Razvan Gheorghiu-Testa jointly head the team.

TMT Tier 1

Cătălin Băiculescu and Vlad Cercel head the practice at Ţuca Zbârcea & Asociaţii. It covers a wide range of TMT work including sector-specific agreements and litigation, compliance and regulatory work and insourcing and outsourcing agreements. A notable instruction came from Telekom Romania and Telekom Romania Mobile in relation to concession agreements for the construction and operation of the backhaul elements of an electronic communications network. On the M&A front, it formed part of a global team advising Vodafone on its €18.4bn acquisition of Liberty Global’s European operations.

Banking and finance Tier 2

Ţuca Zbârcea & Asociaţii handles the full spectrum of banking and finance matters. On the NPL front, the team assisted Deutsche Bank, AnaCap Financial Europe and APS Holding with the takeover of a NPLs from Alpha Bank Romania and Alpha Bank. The team had an active year in the financing sphere, advising Unicredit Bank on a €50m financing granted to Forte Partners. Mihai Dudoiu, Gabriela Anton, Catalin Baiculescu and Stefan Damian are key members of the team and jointly lead the practice.

TMT: gambling law Tier 2

Cristian Radu leads the practice at Ţuca Zbârcea & Asociaţii, which represents online gambling operators, casinos, gaming organisations and gaming vendors. PokerStars is a notable client who sought the team's advice on a range of compliance and regulatory issues specific to its online gambling operations. In another highlight, it advised Fortuna Romania on the regulatory implications of its acquisitions of Public Slots and Hattrick Bet. Other instructions include license applications, IP and tax issues, commercial and data protection matters and disputes.

White-collar crime Tier 2

Ţuca Zbârcea & Asociaţii is notably representing the Romanian Football Federation, a civilly liable party, in a criminal dispute concerning allegations of official misconduct. Ioana Hrisafi-Josan and Robert Roşu head the practice, which is reputed for its work on corruption matters, occupational and IP crime, money laundering, tax evasion and financial fraud.

Capital markets Tier 3

Ţuca Zbârcea & Asociaţii acts for clients such as Erste Bank, Banca Comercială Română and BRD – Groupe Société Générale on debt and equity capital market matters in addition to regulatory compliance matters. Silvana Ivan leads the team jointly with Stefan Damian and provided regulatory advice to Patria Bank on its attempted acquisition of Piraeus Bank Romania.


The firm

Tuca Zbârcea & Asociatii is one of the leading law firms in Romania and in its region, both in terms of the high-quality services it provides to its clients and the magnitude of the projects the firm has been involved in during recent years. The firm boasts a talented team of more than 110 lawyers in its Bucharest office. It also operates a secondary office in Cluj-Napoca (one of the most important cities in Romania), and has excellent national coverage based on correspondent law offices in major cities, including Iasi, Timisoara, Constanta etc. The firm employs a multidisciplinary approach to the legal practice including dedicated specialised divisions. Its specialised network of professionals in insolvency (TZA Insolventa S.P.R.L.), certified tax advisors (Tuca Zbârcea & Asociatii Tax S.R.L.), certified intellectual property counsellors (Tuca Zbârcea & Asociatii IP S.R.L.) provide comprehensive services to effectively meet clients’ needs. In addition, Tuca Zbârcea & Asociatii have set up foreign desks – China desk, Israel desk, Moldovan desk – to address the growing needs of foreign investors looking to enter the Romanian market.

The firm’s client portfolio includes international corporations, financial institutions, as well as ‘Fortune 500’ category companies. It also works with local public authorities and bodies.

In addition, in a highly innovative move for the Romanian market, Tuca Zbârcea & Asociatii and Tuca Zbârcea & Asociatii Tax team entered into a formal cooperation agreement with Andersen Global in March 2019. This is the first collaboration agreement in Romania, and continues Andersen Global’s expansion in Eastern Europe. “Tuca Zbârcea & Asociatii is one of the highest quality law firms in Romania, with an outstanding team and best-in-class service. They are Tier One in Chambers in almost all categories and we can see why the firm has grown so significantly since they launched in 2005,” said Mark Vorsatz, Andersen Global Chairman and Andersen Tax LLC CEO. “We’re proud to bring them into the Andersen Global family.” Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has more than 4,000 professionals worldwide and a presence in over 133 locations through its member firms and collaborating firms.

Tuca Zbârcea & Asociatii undertakes a strong commitment to applying quality management principles, regarding information security, having obtained certifications in accordance with ISO 9001:2008 and ISO/IEC 27001:2013 standards. In addition, the firm has been pursuing a broad range of social responsibility activities throughout the years, with its initiatives mainly focusing on the following areas: education, culture, sports and charity. Several of the firm’s CSR and pro bono programs address the needs of the younger generations while engaging with the wider community of experts in various disciplines, including mathematics, physics and informatics, as well as architecture, medicine etc. From educational programmes designed for law school students, to programmes addressing the special needs of exceptional children, such as maths geniuses, we demonstrate our conviction that education is invaluable to individuals and societies. In addition, in line with Tuca Zbârcea and Asociatii’s ambition to nurture future generations by encouraging, supporting and promoting talent, the firm has deployed a range of initiatives aimed at establishing higher standards in arts/culture and sports.

Areas of practice

Tuca Zbârcea & Asociatii provide legal services in every aspect of business, covering all major areas of practice: aviation and aerospace; banking and finance; capital markets and securities; competition; corporate and commercial; criminal law and corporate crime; data protection; electronic communications and IT; employment; energy and natural resources; environmental law and permitting; gambling; healthcare and medical services; insolvency and liquidation; insurance and private pensions; intellectual property; litigation and arbitration; media and advertising; mergers, acquisitions and privatisation; oil and gas; pharmaceutical law; PPP, PFI and concessions; real estate; regulatory legal services; shipping and transport; and tax.

Department Name Email Telephone
Arbitration Florentin Tuca 004021 204 88 91
Arbitration Cornel Popa 004021 204 88 94
Arbitration Levana Zigmund 004021 204 76 32
Arbitration Anca Puscasu 0040374 136 307
Taxation Razvan Gheorghiu-Testa 004021 204 88 96
Taxation Alexandru Cristea 004037 413 61 15
Banking and finance Stefan Damian 004021 204 88 93
Banking and finance Mihai Dudoiu 004021 204 76 36
Banking and finance Gabriela Anton 004037 413 63 42
Capital markets and securities Stefan Damian 004021 204 88 93
Capital markets and securities Silvana Ivan 004021 204 76 40
Competition Raluca Vasilache 004021 204 76 33
Corporate and commercial Florentin Tuca 004021 204 88 91
Corporate and commercial Stefan Damian 004021 204 88 93
Corporate and commercial Catalin Baiculescu 004021 204 76 34
Corporate and commercial Horia Ispas 0040374 136 316
Electronic communications and IT Catalin Baiculescu 004021 204 76 34
Electronic communications and IT Vlad Cercel 004037 413 63 40
Employment and pensions Serban Pâslaru 004021 204 88 97
Energy and natural resources Gabriel Zbârcea 004021 204 88 92
Energy and natural resources Sorin Vladescu 004021 204 88 95
Energy and natural resources Irina Moinescu 004021 204 76 41
Energy and natural resources Cornel Popa 004021 204 88 94
Energy and natural resources Cristian Radu 004037 413 62 22
Environmental law and permitting Ciprian Dragomir 004021 204 88 90
PPP, PFI and concessions Florentin Tuca 004021 204 88 91
PPP, PFI and concessions Serban Pâslaru 004021 204 88 97
PPP, PFI and concessions Vlad Cercel 004037 413 63 40
Intellectual property Ciprian Dragomir 004021 204 88 90
Litigation Robert Rosu 004021 204 76 30
Litigation Ioana Hrisafi 004021 204 76 31
Litigation Ionut Serban 004021 204 76 37
Litigation Christina Vladescu 004021 204 76 38
Litigation Ioana Gelepu 004021 204 76 39
Litigation Oana Gavrila 0040374 136 323
Real estate Dan Borbely 004021 204 88 98
Real estate Razvan Gheorghiu-Testa 004021 204 88 96
Real estate Oana Ureche 004021 204 76 35
Real estate Dragos Apostol 004037 413 62 42
Mergers, acquisitions, privatisation Gabriel Zbârcea 004021 204 88 92
Mergers, acquisitions, privatisation Stefan Damian 004021 204 88 93
Mergers, acquisitions, privatisation Cornel Popa 004021 204 88 94
Photo Name Position Profile
Mrs Gabriela Anton  photo Mrs Gabriela Anton
Mr Dragos Apostol  photo Mr Dragos Apostol
Mr Catalin Baiculescu  photo Mr Catalin Baiculescu
Mr Dan Borbely  photo Mr Dan Borbely
Mr Vlad Cercel  photo Mr Vlad Cercel
Mr Alexandru Cristea  photo Mr Alexandru Cristea
Mr Stefan Damian  photo Mr Stefan Damian
Mr Ciprian Dragomir  photo Mr Ciprian Dragomir
Mr Mihai Dudoiu  photo Mr Mihai Dudoiu
Mrs Oana Gavrila  photo Mrs Oana Gavrila
Mrs Ioana Gelepu  photo Mrs Ioana Gelepu
Mr Razvan Gheorghiu-Testa  photo Mr Razvan Gheorghiu-Testa
Mrs Ioana Hrisafi-Josan  photo Mrs Ioana Hrisafi-Josan
Mr Horia Ispas  photo Mr Horia Ispas
Mrs Silvana Ivan  photo Mrs Silvana Ivan
Mrs Irina Moinescu  photo Mrs Irina Moinescu
Mr Serban Pâslaru  photo Mr Serban Pâslaru
Mr Cornel Popa  photo Mr Cornel Popa
Mrs Anca Puscasu  photo Mrs Anca Puscasu
Mr Cristian Radu  photo Mr Cristian Radu
Mr Robert Rosu  photo Mr Robert Rosu
Mr Ionut Serban  photo Mr Ionut Serban
Dr Florentin Tuca  photo Dr Florentin Tuca
Mrs Oana Ureche  photo Mrs Oana Ureche
Mrs Raluca Vasilache  photo Mrs Raluca Vasilache
Mrs Christina Vladescu  photo Mrs Christina Vladescu
Mr Sorin Vladescu  photo Mr Sorin Vladescu
Mr Gabriel Zbarcea  photo Mr Gabriel Zbarcea
Mrs Levana Zigmund  photo Mrs Levana Zigmund
Number of lawyers : 110
International Bar Association
European Employment Lawyers Association
Managing Partner : Florentin Tuca,
Managing Partner : Gabriel Zbârcea,
Deputy Managing Partner : Stefan Damian,

  • A global aerospace and defence company headquartered in the US – assistance in signing a $1 billion contract with the National Defense Ministry to deliver up to 227 PIRANHA 5 wheeled armored vehicles in six different configurations to the Romanian Armed Forces.
  • Advising a private equity and venture capital firm on both Series A and Series B investments totalling $183 million in a Romanian start-up company – UiPath, the largest capital raise of its kind.
  • An American company – assistance in a €12.3 billion acquisition transaction involving the Power and Grid businesses of Alstom, as well as in connection with the transfer of its Romanian water treatment business to an entity owned by Suez, as part of a cross-border transaction worth €3.2 billion.
  • A consortium of international financial institutions – assistance in high-profile acquisitions in the financial services sector, including the largest acquisition of a single corporate non-performing loan package worth €1.2 billion ($1.31 billion).
  • A well-known supplier for the aerospace industry – assistance in acquiring Fokker Technologies Group B.V, from Arle Capital, for an enterprise value of €706 million (£499 million).
  • America’s most successful fast food chains – assistance in relation to various corporate and commercial issues arising out from its operations in Romania, including advice on the sale of its Romanian subsidiary to Premier Capital.
  • A Chinese company – advising on its bid for the construction of two reactors (Units 1 and 2) at the Romanian nuclear power plant in Cernavoda subject to investments worth €6.45 billion.
  • A packaged meats manufacturer – assistance as regards the sale of a 100 percent stake to Smithfield Foods Inc.
  • One of the fastest growing gambling operator in Romania – assistance in various gambling regulatory aspects, as well as on corporate, IP and insolvency laws matters further to client’s acquisitions of Bet Active Concept, Bet Zone, Public Slots and Slot Arena.
  • A Czech pharmacy chain – assistance with respect to its entry on the Romanian market further to the acquisition of Fastpharm, Iezer Farm, Panpharma Med and York Farm chains.
  • An electricity producer from the Czech Republic – advice on regulatory issues, employment, environmental law and permitting, litigation, corporate, mergers & acquisitions, real estate, as well as post-privatisation issues entailed by its subsidiary, Electrica Oltenia.
  • A French hypermarket operator – assistance in all its operations in Romania and in the expansion if its retail sale network, including M&A, real estate, corporate, competition, labour, litigation, regulatory issues.
  • A member company of Rompetrol Group, owned by KazMunaiGaz – advising on the largest Chinese investment in Romania following the partial takeover of KazMunayGas International by CEFC, a Chinese strategic investor (a complex deal of multi-billion $USD).
  • Assistance to the leading financial services provider in Central and Eastern Europe and also the majority shareholder in Banca Comerciala Româna – in a wide range of legal issues ranging from complex banking and finance, capital markets, M&A and post-privatisation issues, corporate, insurance and private pensions, insolvency and liquidation, competition, capital markets, litigation.
  • One of the main telecom operators in Romania – assistance in various corporate/commercial, regulatory, competition, labour, tax related issues relating to client’s operations on the Romanian telecom market, including in concluding the first network sharing agreement in Romania with one of its competitors.

Diversity lies at the heart of Tuca Zbârcea & Asociatii’s brand. Our diversity policy is about ensuring that work is evenly distributed or that career-making opportunities are afforded to a diverse group of attorneys and staff. Our diversity policy is also about recruitment and retention of diverse talent, understanding and responding to the needs of our diverse clients, promotion of women and minorities, commitment to offer equal employment opportunities and to foster an atmosphere conducive to open and safe discussion of diversity topics, enforcement of anti-discrimination and harassment policies, including gender discrimination and sexual harassment.

According to our Pro Bono program, we commit to contribute up to 3% of the firm’s billable hours to Pro Bono work. In line with our commitment to help make a difference to the profession, as well as the wider community, Tuca Zbârcea & Asociatii has been pursuing a broad range of social responsibility activities throughout the years. As per our CSR policy, the firm’s initiatives are mainly focused on the following areas: education, culture, sports and charity. What’s more, the firm set up a dedicated non-profit organisation – called “Noctilucent” – to implement social responsibility projects. Tuca Zbârcea & Asociatii is a socially responsible company that takes a strong, real interest in the future of the legal profession and is willing to shape that future by investing in talented people, improving education and enabling access to meaningful, quality sources of information. Several of the firm’s CSR and pro bono programs address the needs of the younger generations and our focus is not exclusively on law students and law graduates. Instead, Tuca Zbârcea & Asociatii engages with the wider community of experts in various disciplines, including mathematics, physics, informatics, as well as architecture, medicine etc. From educational programmes designed for law school students, to programmes addressing the special needs of exceptional children, such as maths geniuses, we demonstrate our conviction that education is invaluable to individuals and societies. In addition, in line with Tuca Zbarcea & Asociatii’s ambition to nurture future generations by encouraging, supporting and promoting talent, the firm has deployed a range of initiatives aimed at establishing higher standards in arts/culture and sports.

Thanks to the firm’s constant involvement in Pro Bono, CSR and sponsorships, Tuca Zbarcea & Asocia?ii has received various accolades from prestigious publications, including The Financial Times in its annual FT Innovative Lawyers report. The firm is also a past recipient of the Award for CSR and Pro Bono commitment (Legal Magazin, Gala Profesiilor Liberale, 2013) and Brand Culture Award for devising a one-of-a-kind internship in public speaking for law students in Romania (Legal Marketing, The Times/Legal Innovation Awards, 2017).

Gabriel Zbârcea, Alexandru Cristea (Țuca Zbârcea & Asociații) and Mark Vorsatz (Andersen Global)

Mr Gabriel Zbârcea, why did you want to become an Andersen Global collaborating firm in Romania? What are the benefits and what do you put on the table?

First of all, we are very proud that Andersen Global chose us as their collaborating firm in Romania. From our side, such collaboration was a natural decision, as we are convinced of the power of Andersen Global’s leadership and worldwide association of member firms. This will give us access to global know-how and breadth, together with cross-border projects and clients. I think this is a perfect addition to our capabilities, as Țuca Zbârcea & Asociații is already recognized for its quality and innovation on the business law market in Romania as proven by the various local and international awards that our law firm has received and also by the top tier rankings of our law firm in all top legal directories. We have a solid team of professionals with diverse backgrounds, as well as a network of certified insolvency and IP professionals. In addition, our Tax division is best placed to provide the required consultancy services in the fiscal area. We are basically a “one stop shop” whereas our clients benefit from integrated legal, tax, insolvency services etc.

Mr Alexandru Cristea, how do you think the local and international tax professional market will be shaped in the near future? How do you think your tax practice will be enhanced by the collaboration with Andersen Global?

I think there are challenging times ahead for the legal and tax markets, both at international and local levels, driven by the economic context and the changing needs of our clients. On the tax side, there are the global directions imposed by the BEPS, anti-avoidance rules and initiatives, envisaged changes in the EU VAT system, just to name a few, which will make the companies to reconsider, more and more, their tax position from a strategic point of view. On the other hand, there is a need to manage the increasing complexity of tax and transfer pricing compliance in a fluid and transparent way, by means of efficient flows and technology. The best positioned service providers will be the ones who can bring a mix of scale (which enables know-how and specialization) and flexibility, being close to their clients. In this context, I think that companies will be more and more attracted to work with independent legal and tax advisors, free from the restrictions imposed to the traditional audit firms. The presence of Andersen Global in the Romanian market will bring all the above.

Mr Mark Vorsatz, what are the roots of Andersen Global and where it is presently standing?

Andersen Global was established as the international entity surrounding the development of a seamless professional services model providing best in class tax and legal services around the world. Andersen Global was formed in 2013 but our connection to the Andersen legacy extends much further. Many of our Partners came from Arthur Andersen and many did not, but we all share the same core values including providing best-in-class, seamless service, transparency, and stewardship.
Currently, the global organization has more than 4,000 professionals worldwide, over 500 global Partners, and a worldwide presence through its member and collaborating firms.

Mr Mark Vorsatz, what are the Andersen values and differentiators in the global legal and tax market?

The integrated services, comprehensive geographic coverage, seamlessness, combined tax and legal services, and common vision and culture through the member and collaborating firms of Andersen Global have been differentiators for us. We are continuing to chip away at the global platform in terms of the number of countries in which we have legal services. Currently we have close to 1200 lawyers globally, 41 countries with legal services and tax in 50. I expect us to continue to make systematic progress.

Mr Vorsatz, what do you look for specifically when selecting a new partner in Europe? How did you finally choose Tuca Zbarcea & Asociatii in Romania?

First and foremost, we look for the best quality firm, not necessarily the biggest in size. Additionally, we look for like-mindedness, as well as a common vision. There also needs to be a cultural fit. We felt Tuca was a high-quality firm with an outstanding team, great quality, and a high level of confidence.