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The chain of general contractor and subcontractors behind large-scale construction and the occasional failure of certain subcontractors to obtain proper payment gave birth to the institution of construction payment agent, a form of collateral management. It was typical in the construction industry that subcontractors were exposed to circle debt. The construction payment agent is a unique statutory solution to eliminate such debts.

“Finally, there has been some positive movement on the political scene,” says Gladei & Partners Managing Partner Roger Gladei, referring to Moldova’s Presidential elections last November. “President Maia Sandu’s win marked the beginning of a new political era for Moldova,” he says. “At least that’s the sentiment in the streets.” As the presidency is expected to make a dramatic 180 degree turn towards the West, President Sandu presents a strong contrast to the previous, more Russia-friendly administration.

“The most important news right now in Moldova relates to the results of the recent presidential elections,” says Cobzac & Partners Managing Partner Daniel Cobzac, from Chisinau, referring to the November 15 victory of former World Bank economist Maia Sandu over incumbent Igor Dodon, the leader of the pro-Russian “Party of Socialists of the Republic of Moldova,” which holds a parliamentary majority.

Romania's Mares & Mares law firm and Moldova's Dolea & Co have entered into a strategic alliance aimed at, according to Mares & Mares, “providing integrated legal services in Romania and the Republic of Moldova in the field of white-collar crime, investigations, international disputes, as well as commercial and investment arbitration."

The new version of the Moldovan Civil Code, which came into force pursuant to the Law to Modernize the Civil Code and to Amend Certain Legislative Acts 133/2018 (the “Law”), reformed several features of the private law and turned out to be a real challenge for all kind of individuals and organizations, from natural persons and entrepreneurs to public authorities.

The COVID-19 pandemic has revealed a certain degree of inflexibility and lack of vision with regard to employment regulations and rules, especially in Eastern Europe, where countries which were slower to adjust than their Western European counterparts. Unfortunately, Moldova was no exception, and Moldovan businesses have frequently found themselves in positions where there were no obvious legal and commercial options available to their specific situation during this pandemic. 

The time is gone forever when our lawyers would sit down in a physical data room to dig through tons of documents provided by the target’s head of legal or corporate secretary. We will miss the personal contact, but it’s fair to say that the due diligence process has become more streamlined and efficient in Moldova, making it possible to shrink the timing of M&As and close deals in weeks rather than months.

I was born in Moldova and obtained my first degree in law from a Moldovan university 20 years ago. Since its independence in 1991, Moldova – a small landlocked country located between Ukraine in the East and Romania in the West – has struggled to survive, being torn apart by various geopolitical interests, political havoc, corruption, and economic fluidity. The legal industry has struggled as well. Although a lot has changed in my time as a lawyer, I cannot confidently say that the legal industry in Moldova has witnessed tremendous growth.

Over the past few years CMS advised the OTP Bank Group on an extensive series of acquisitions across Bulgaria, Moldova, and former Yugoslavia. This series of separate deals was shortlisted for CEE Legal Matters’ CEE Deal of the Year in each of the countries involved, actually winning the 2018 Deal of the Year for Bulgaria and the 2019 Deal of the Year Award for Montenegro. We reached out to Eva Talmacsi, who led CMS’s multi-jurisdictional team, to learn more about the firm’s impressive work on OTP’s behalf.

The Spring of 2020 brought the pandemic to CEE, with its “perfect storm” of ingredients – including significant legal ramifications. Whether you are an individual, a business, or a governmental official, the storm made you ask at least one of these questions: “What are my rights in pre-existing contract?”, “Am I still bound to pay?”, “Can I get my money back?”, “Will I be liable for this?”, and “What legislation is needed to help ease the impact on the public?” 

Moldovan Knowledge Partner

ACI Partners is a leading law firm in Moldova with an expanding network of partners throughout Europe. ACI Partners was established in 2006 and since then has managed to build a very strong and competitive legal practice. Our business strategy strives to deliver a solid and reliable service, going beyond merely grasping the law, which the clients may turn to whenever they need. In reaching this goal, ACI Partners employs a personalized approach to each client, showing a genuine respect for their values and unqualified commitment to their interests and needs, steadily investing in knowledge and data management and ensuring a working environment consistent with our clients’ quality demands and high expectations.

ACI Partners is a one-stop shop law firm proficient in all possible legal matters a business might come across in Moldova, starting with incorporation of a business, and obtaining of all the necessary regulatory permits, continuing with various daily matters, such as contracts, labor, and migration, and finishing with dispute settlement, insolvencies, and criminal investigations. But we pride ourselves especially for our unmatched expertise in most innovative and complex areas for Moldova, as Modern Financial Products, Data Protection, Renewable Energy, Competition, Clinical Studies, Public Procurement, and Regulatory. In our work, we always involve a team of professionals with the relevant skill-mix, which enables us to provide our clients with an integrated and comprehensive advice, superior to our competitors.

ACI Partners has advised the Government of the Republic of Moldova, businesses, international organizations, and other institutions on most challenging transactions, assignments and projects.

ACI Partners is not just another law firm. Over the course of our existence and working in Moldova, and on the international stage for our non-Moldovan clients, we have developed a strong set of core values which, we believe, guide us in everything that we do and, moreover, gives us a competitive advantage – differentiating us from other firms on the market.

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