Jones Day and Musat & Asociatii have advised the Geely Holding Group and Geely Automobile Holdings on their binding 50/50 joint venture agreement with the Renault Group to launch a new powertrain technology company. Freshfields Bruckhaus Deringer advised Renault on the JV and the carve-out of its internal combustion and hybrid engines business.
Spin-Off City No More
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.
Musat & Asociatii Advises Magna on Acquisition of Veoneer's Active Safety Business from SSW Partners
Musat & Asociatii has advised Magna International Inc. on its acquisition of Veoneer's active safety business from private equity firm SSW Partners.
Closing: Sika’s Acquisition of MBCC Group from Lone Star Funds Now Closed
Baker McKenzie and Musat & Asociatii have announced that Sika’s EUR 5.3 billion acquisition of Master Builder Construction Chemicals from Lone Star Funds (reported by CEE Legal Matters on February 23, 2022) had closed.
Musat & Asociatii Advises Adesgo on Sale of Business to Tefron Europe
Musat & Asociatii has advised Adesgo on the sale of its seamless apparel manufacturing, marketing, and distribution business to Tefron Europe.
Recruiting Staff in Romania and Background Checks: What Employers Need to Know
Recruiting staff in Romania may seem daunting to employers, specifically to those foreign-owned, unfamiliar with Romanian employment legislation. Nevertheless, if certain basic rules are determined and further observed, the recruiting procedure should run smooth and clean from a legal perspective.
Popovici Nitu Stoica & Asociatii Advises Redport Capital on Land Acquisition from Havi Logistics
Popovici Nitu Stoica & Asociatii has advised Redport Capital on its EUR 3.2 million acquisition of over one hectare of land in the Petrom City area from Havi Logistics. Musat & Asociatii reportedly advised Havi.
Crypto-Assets: Ephemeral Trend or Key-Elements for Digital Market’s Growth?
After years of anticipation and waiting, 2023 appears to be the year in which crypto-assets, as major applications of blockchain technology in finance, will be finally regulated by the European Union („EU”) legislation, namely, by the Regulation on Markets in Crypto Assets (“MiCA Regulation”), which is susceptible to affect the rights, obligations and interests of many existing and future generation of businesses and investors across the globe.
Romania’s Disaster Movie: The Film Industry Cash Rebate Scheme that Wasn’t
2018 saw the introduction of the Romanian movie production cash rebate system and a subsequent uptick in movie productions seeking to develop in Romania. The ambitiously outlined rebate system seemed quite appealing, initially. However, over the past three years, it failed to live up to its original goals.
Tuca Zbarcea & Asociatii and Musat & Asociatii Advise on Speedwell’s Sale of Miro Office Building to Hili Properties
Tuca Zbarcea & Asociatii has advised Speedwell on the EUR 60 million sale of a 75% stake in the Miro office building to Hili Properties. Musat & Asociatii advised the buyer.
Challenging the Ascertaining Document – Recent Developments
A key institution enshrined by the Romanian legal provisions governing public procurement, the ascertaining document is issued by contracting authorities upon the finalization of a public contract and indicates whether contractors failed to fulfill their contractual obligations or have fulfilled them in a defective manner.
Musat & Asociatii Advises Catted Group on Financing from Libra Internet Bank
Musat & Asociatii has advised the Catted Group on the financing provided by Libra Internet Bank for the development of the Catted Family residential project.
Musat & Asociatii Advises Bank Syndicate on BFG Packaging Acquisition Financing
Musat & Asociatii has advised a syndicate of banks including Jefferies Finance LLC, J. P. Morgan, and Danske Bank A/S on financing for the EUR 650 million acquisition of four B2B distribution companies by FSN Capital.
Musat & Asociatii Announces Paul Buta as Managing Partner and Makes Three New Partners
Paul Buta has been appointed to Managing Partner, while Alexandru Terta, Iuliana Iacob, and Andrei Ormenean made Partner at Musat & Asociatii.
An Update on the Curious Case of the Romanian Thematic Tax Audit Campaign Related to Gift Vouchers
In a previous article we have analysed the dilemmas resulting from the thematic tax audit campaign aimed at auditing the tax treatment of purchased gift vouchers, in terms of income tax and social security charges. A very sought after extra-salary employee benefit, companies bought and offered gift vouchers amounting to over RON 1 billion (approx. EUR 200 million) in 2018 alone and we can only assume that these figures have only risen since then.
Data Confidentiality in the Management of a Case File
The writs of summons and all proceedings handled by the courts of law are recorded in an online system. The case file number, the names of the parties, the object of the file and other information are published on the Ministry of Justice’s online portal www.portal.just.ro and are also disseminated through the electronic dossier applications implemented by several courts of law.
The Buzz in Romania: Interview with Paul Buta of Musat & Asociatii
Uncertainty is the key word in Romania of late, according to Musat & Asociatii Deputy Managing Partner Paul Buta, with the Government recently succumbing to a vote of no confidence in Parliament impacting both businesses and law firms.
Numerous Fraud Cases on Cryptocurrencies and Non-cash Payment Methods Lead to Significant Changes to National Criminal Legislation
In the context that more and more people and companies are investing in cryptocurrencies and given the fact that non-cash payments are becoming the new standard in business transactions, the national legislator has intervened in order to offer a larger protection to these types of transactions, the legislative amendments being necessary in order to cover the full spectrum of electronic criminality.