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“Naturally, nobody in Moldova was prepared for this situation,” says Roger Gladei, Managing Partner of Gladei & Partners in Chisinau. “Still, even though the first reaction of the Government was sporadic, in the end, they were able to put resources together and come up with an articulated response to the crisis."

“The end of 2019 has marked the end of the Sandu Cabinet — led by former Prime Minister Maia Sandu — and the takeover of the Prime Minister position by Ion Chicu,” says Daniel Cobzac, Managing Partner at Cobzac & Partners in Chisinau. “The Socialist Party now has its largest representation ever, and it was able to appoint one of their own to the Prime Minister’s position.”

Filip & Company, Freshfields Bruckhaus Deringer, and Vernon David & Associates have advised Banca Transilvania on the acquisition of 100% of the share capital of Microinvest. Osborne Clarke and Turcan Cazac advised the sellers on the transaction, which remains contingent on regulatory approval.

Former Wolf Theiss Poland Co-Managing Partner Ron Given has joined Deloitte Legal as its CE Senior Legal Counsel, responsible for all of the firm’s offices in 19 Central and Eastern European countries.

Major developments in 2018 and 2019 have affected the growth of the agricultural industry and agribusiness in Moldova. Key among these developments was the March 1, 2019 adoption of the restated Moldovan Civil Code, which significantly affected the parts of the Moldovan legal framework relevant to businesses.

The landlocked former Soviet republic struggles to move beyond political division and geopolitical pressures to find a steady and reliable path to prosperity.

Turcan Cazac has advised Victoriabank and Banca Transilvania on a club deal loan in Moldova to Lemi Invest S.A. to finance the construction of the first A+ class office building in Chisinau, and a 4-star Courtyard Marriott Hotel. Volciuc Ionescu reportedly advised Victoriabank and Banca Transilvania on matters of Romanian law.

Efrim, Rosca & Associates has advised the Moldovan Government, acting through the Agency for Public Property, on its sale of 63.8865% of the authorized capital of Moldindconbank to Bulgaria's Doverie United-Holding AD. Gladei & Partners and Cobzac & Partners advised Doverie-Invest on the deal, which had received preliminary approval on January 22 from the National Bank of Moldova.

According to Oleg Efrim, the Managing Partner at Moldova’s Efrim Rosca Asociatii law firm, the primary topic of interest at the moment in the Moldovan legal community is the country’s newly modernized Civil Code which will become effective on March 1, 2019. According to Efrim, the new Code will be a significant upgrade to the existing law, which entered into force in 2003 as the country’s first following the fall of the Soviet Union. “It’s a substantial amendment,” Efrim reports, pointing out that the number of articles is increasing from the existing 1624 to 2671, and he says that "it is, indeed, a modernization of the Code.”

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