Schoenherr has advised the Catalyst Romania Fund II on a EUR 2 million transaction involving a sports subscription start-up by ESX.
On 26 April 2023, the Court of Justice of the European Union ("CJEU" or the "Court") rendered an interesting new judgment that reopens the discussion about the problems posed by the legal protection of pseudonymized data. The Eighth Chamber, Extended Composition, of the General Court issued a judgment in case T-557/20 which involved the Single Resolution Board, as the central resolution authority within the European Banking Union ("Single Resolution Board" or "SRB") and the European Data Protection Supervisor ("EDPS").
Cryptocurrency, fiat currency exchange services and digital wallet providers could soon become authorised in Romania. This comes on the heels of the Ministry of Finance publishing a draft government decision that seeks to create the legal framework for the authorisation and operation of these service providers.
Stratulat Albulescu has advised Undelucram.ro on its EUR 1 million late-seed funding round led by Sofia Angels Ventures.
Schoenherr has advised BlackPeak Capital portfolio company euShipments.com on its acquisition of a majority stake in Romanian e-fulfillment provider Helpship.
Contributed by Filip & Company
Recognizing the pressing need to rectify certain conflicting provisions within the existing legal framework applicable to the permitting process of renewable energy projects (as previously reported in the Wolf Theiss Client Alert dated January 12th, 2023 available here), Romanian lawmakers have been working since the start of 2023 to introduce legislative amendments to Urbanism Law 350/2001 and Construction Law 50/1991.
The Romanian FDI regime has formally shifted to a stricter approach, with EU (including Romanian) investors now being specifically covered. We refer to Law No. 164/2023 (the "FDI Law") aimed at implementing and amending Emergency Government Ordinance No. 46/2022 ("EGO 46"), which was published in the Official Gazette of Romania on 7 June 2023.
On June 6, 2023, Buzescu Ca announced that Danfoss' absorption of Sondex Holding's Romanian operations and subsidiaries (reported by CEE Legal Matters on February 14, 2019) had closed.