Radu Taracila Padurari Retevoescu has advised Qualitance founders Radu Constantinescu and Ioan Iacob on the sale of the company to Alten. CMS reportedly advised Alten on the acquisition.
Glodeanu & Partners Advises INVL on Acquisition of Another Solar Portfolio in Romania
Glodeanu & Partners has advised the INVL Renewable Energy Fund I on its acquisition of a 102.7-megawatt portfolio of solar projects in Romania.
Dentons and Dimitrijevic & Partners Advise on Financing for Mtel in Bosnia and Herzegovina
Dentons and Dimitrijevic & Partners have advised coordinator, bookrunner, and mandated lead arranger UniCredit on a EUR 90 million term loan facility for Mtel Banja Luka. Solo practitioner Loren Richards reportedly advised the borrower.
ZRVP Successful for OMV Petrom in ICC Arbitration
Zamfirescu Racoti Vasile & Partners has successfully represented OMV Petrom in ICC arbitration proceedings regarding a dispute with a contractor.
Ana-Maria Filip and Bogdan Toma Make Partner at Dragne & Asociatii
Former Managing Associates Ana-Maria Filip and Bogdan Toma have been appointed as Partners with Dragne & Asociatii as of September 1, 2022.
Romania: HR Challenges and the New Whistleblowing Act
The Whistleblowing Act in Romania (currently in the form of a revised bill, again waiting for a final vote in the Parliament) has been hotly debated over and over again during the past year: authorities, consultants, lawyers, employers and anti-fraud specialists have been going through the bill in detail and working out the challenges it will raise, both for public entities and private companies.
Romania: Changes to Income Tax on Salaries - Maximum Benefit at Minimum Cost
According to the latest figures from the National Institute for Statistics and other public information, the annual inflation rate has continued to rise and, at 15.32% in August, reached its highest rate in 20 years. Inflation has been rising at a galloping rate over the past year, both globally and nationally.
Daiana Ichimescu Joins Adesman & Asociatii as Partner
Former Suciu Popa Senior Associate Daiana Ichimescu has joined Adesman & Asociatii as a Partner.
RTPR Advises EBRD on EUR 25 Million Deal with Banca Transilvania
Radu Taracila Padurari Retevoescu has advised the European Bank for Reconstruction and Development on its EUR 25 million loan granted to Banca Transilvania.
Oana Voda Joins Dentons as Head of Public Procurement
Former Filip & Company Of Counsel Oana Voda has joined Dentons’ Bucharest office as Head of Public Procurement.
Clifford Chance Advises Actis on Romanian Wind Project Acquisition
Clifford Chance has advised Actis on the launch of its portfolio business Rezolv Energy and on Rezolv's acquisition of the Romanian Vis Viva onshore wind project from Low Carbon.
Romania: State Aid Call for Submission of Applications under Government Decision 959/2022 Will Open on 1 November
The Ministry of Economy has officially announced the opening of the call for submission of applications under the state aid scheme regulated by Government Decision no. GD 959/2022 for financing assets and/or salary costs. The period for submitting financing requests is scheduled between 1 November 2022 to 16 December 2022, when investors may file the relevant documentation.
Suciu Popa Successful for Iris-Aly Explorer on Public Property Goods Concession Dispute
Suciu Popa has successfully represented Iris-Aly Explorer in a dispute related to the concession of public property goods.
Important Changes to the Romanian Energy Bills Support Scheme
On 1 September 2022, Emergency Ordinance No. 119/2022 (“GEO 119/2022”) amending Emergency Ordinance No. 27/2022 on measures applicable to final customers in the electricity and natural gas market in the period between 1 April 2022 and 31 March 2023, as well as for amending certain regulatory acts in the energy field (“GEO 27/2022”) was published in the Official Gazette of Romania no. 864 and entered into force on the same date. Below is a selection of the provisions set forth under GEO 119/2022.
DLA Piper and Baker McKenzie Advise on Wirtualna Polska’s Acquisition of Szallas Group
DLA Piper has advised Wirtualna Polska on its acquisition of the Szallas Group from Portfolion Capital Partners and private individuals. Baker McKenzie advised Portfolion.
Significant Amendments to the Fiscal Code with an Impact in the Field of Real Estate Transactions
By Government Ordinance no. 16/2022 for amending and supplementing Law no. 227/2015 regarding the Fiscal Code, the abrogation of some normative acts and other financial-fiscal measures, published in the Official Gazette no. 716 of July 15, 2022 (Ordinance 16/2022), a series of amendments and additions to the fiscal regime have been made that concern, among others, the regime of micro-enterprises, excise duties, hospitality sector, part-time labour agreements, VAT etc.
Restructuring Laws and Regulations in Romania
Contributed by Domokos Partners.
Wolf Theiss Advises Banks on EUR 410 Million Credit Facility for Iulius Group
Wolf Theiss has advised a syndicate of Erste Group Bank, Banca Comerciala Romana, OTP Bank Nyrt, OTP Bank Romania, and Raiffeisenlandesbank Niederoesterreich-Wien on a EUR 410 million credit facility granted to the Iulius Group.