Cryptocurrency, fiat currency exchange services and digital wallet providers could soon become authorised in Romania. This comes on the heels of the Ministry of Finance publishing a draft government decision that seeks to create the legal framework for the authorisation and operation of these service providers.
Stratulat Albulescu Advises Undelucram.ro on EUR 1 Million Late-Seed Funding Round
Stratulat Albulescu has advised Undelucram.ro on its EUR 1 million late-seed funding round led by Sofia Angels Ventures.
CEE Attorneys Advises Shareholders of Expert Cleaning on Sale to Green Group
CEE Attorneys Boanta Gidei si Asociatii has advised the shareholders of Expert Cleaning on its sale to Green Group.
Schoenherr Advises euShipments.com on Helpship Acquisition in Romania
Schoenherr has advised BlackPeak Capital portfolio company euShipments.com on its acquisition of a majority stake in Romanian e-fulfillment provider Helpship.
Arbitration Association of Central and Eastern Europe Launches in Bratislava
On June 7, 2023, the Arbitration Association of Central and Eastern Europe – ArbCEE – was officially launched in Bratislava.
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.
Romania: Draft Law Amending Terms of Challenging Building Permits and Urban Planning Documentation
On November 11, 2022, the Romanian Senate (as decisional chamber) passed a draft law that includes certain amendments with respect to the terms applicable to administrative and court challenges brought against construction and urbanism documentation.
CEE Real Estate Keeps It Real
Following a tumultuous year marked by the ongoing conflict in the region and rising financing expenses, we reached out to experts across CEE to gain a deeper understanding of the real estate landscape, including key factors driving the industry and the primary obstacles it faces.
Guest Editorial: Adaptability in Times of Change
Adaptability in times of change is one of the most needed qualities in individuals, but societies at large also need to have it, to better take advantage of shifting times. Are the CEE region and its legal profession able to adapt to the changes it is facing?
Renewables in Romania
Contributed by Filip & Company
Romania Passes New Law Regarding Urbanism Requirements for Renewable Energy Projects
Recognizing the pressing need to rectify certain conflicting provisions within the existing legal framework applicable to the permitting process of renewable energy projects (as previously reported in the Wolf Theiss Client Alert dated January 12th, 2023 available here), Romanian lawmakers have been working since the start of 2023 to introduce legislative amendments to Urbanism Law 350/2001 and Construction Law 50/1991.
Hot off the Press: Romanian FDI Regime Formally Extended to EU Investors
The Romanian FDI regime has formally shifted to a stricter approach, with EU (including Romanian) investors now being specifically covered. We refer to Law No. 164/2023 (the "FDI Law") aimed at implementing and amending Emergency Government Ordinance No. 46/2022 ("EGO 46"), which was published in the Official Gazette of Romania on 7 June 2023.
Closing: Danfoss' Absorption of Sondex in Romania Now Closed
On June 6, 2023, Buzescu Ca announced that Danfoss' absorption of Sondex Holding's Romanian operations and subsidiaries (reported by CEE Legal Matters on February 14, 2019) had closed.
Dentons Advises Dawn Capital on Leading USD 35 Million Flowx.AI Series A Round
Dentons has advised London-based venture capital fund Dawn Capital on leading the USD 35 million Series A round for Flowx.AI joined by Day One Capital, PortfoLion, and SeedBlink.
Procurement Principles to Obtain Project Funding under the PNRR
Romania's National Recovery and Resilience Plan (PNRR), designed to ensure an optimal balance between EU priorities and Romania's development needs, provides significant opportunities for the private sector to benefit from financing to build and/or consolidate infrastructure capacity.
Romanian Government Publishes Draft Technical Procedures for the Establishment of Crypto-Currency Exchange and Custodian Wallet Providers
Following two (2) years of uncertainty, at the behest of the Romanian Government, the Ministry for Finance published the draft Government Decision for the approval of procedures for the authorisation and/or registration of providers engaged in exchange services between virtual currencies and fiat currencies, as well as custodian wallet providers, on 12 May 2023. The Decision also included procedures for granting and withdrawing technical endorsements (the "Draft Decision").
Stratulat Albulescu and Tuca Zbarcea & Asociatii Advise on Walden Acquisition of Alex Transport
Stratulat Albulescu has advised the Walden Group on its acquisition of Alex International Transport 94 from Alexandru Constantinescu. Tuca Zbarcea & Asociatii advised the seller.
Banking & Finance in Romania
Contributed by Popescu & Asociatii.