The practice of the Romanian Competition Council (RCC) over the last few years can be summed up in a rather simple headline: many (more) cases and substantial fines.
Building upon the key principles set out in the UN 2030 Agenda for Sustainable Development, which included 17 sustainable development goals and 169 associated targets to be met by 2030, as well as on the provisions of the Paris Agreement, regulators in the EU have published the plan for sustainable finance (Renewed Strategy on Sustainable Finance, published in 2021 and based on the action plan originally published in March 2018). Achieving the economic transformation envisaged under the above instruments requires extensive funding, estimated by the UN at about USD 2.5-3 trillion per year.
Romania is a key player in the European oil and gas market, being the largest natural gas producer in Central and Eastern Europe. Romania has one of the largest processing capacities in Eastern Europe and recently progressed with the development of the Black Sea reserves, currently estimated anywhere between 42 to 84 billion cubic meters of natural gas.
The draft Code of Territorial Planning, Urbanism, and Construction (the Urbanism Code) has recently been approved by the General Secretariat of the Government, on March 29, 2023. Of course, the government’s approval is just one of the steps in implementing the new rules, as the Urbanism Code must also be approved by parliament, promulgated by the president, and then published in the Official Gazette.
With most of Europe facing turbulent times, Romanian markets are experiencing vibrant PE fund activity across a wide plethora of sectors. Popovici Nitu Stoica and Asociatii Managing Partner Florian Nitu, Wolf Theiss Partner Ileana Glodeanu, and Schoenherr Partner Madalina Neagu take a deep dive into the markets and their drivers.
The Romanian legal market seems to indicate a substantial downturn in law firm spin-offs, of late. Musat & Asociatii Managing Partner Paul Buta, Popescu & Asociatii Senior Partner Gheorghe Buta, and Simion & Baciu Managing Partner Cosmina Maria Simion share their thoughts on this trend, the reasons behind it, and the likelihood of it continuing.
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With the first quarter of 2023 wrapped up, we turned to the future and asked: In which practice area do you expect the most growth – in terms of work volume – in the next 12 months?
Where: Why in Istanbul, of course. The size of a couple of New Yorks, Istanbul is one metropolis that made the right decision on urban wildlife. Mice and rats can be unseemly and dangerous, and dogs tend to leave a mess in the middle of the street. Cats, on the other hand, are clean, take care of the rat problem, are reasonably well-behaved, and are just exceedingly cute. Well done, Istanbul!
Setting the stage at the recently held CEE Legal Matters GC Summit in Istanbul, top-tier legal professionals at prominent companies and law firms alike – from across CEE and beyond – shared their insights on what General Counsels must have in their toolbox to guarantee the delivery of high-quality work. Specifically, the experts considered the importance of the GC role as a trusted advisor, getting the most out of negotiations, and the specifics of client service from a GC perspective.