Tuca Zbarcea & Asociatii has advised Morgan Stanley Real Estate Investing on the EUR 10 million technical and aesthetic refurbishment and modernization process of the America House office building in Bucharest.

Contributed by Tuca Zbarcea & Asociatii.

Law No. 129/2019 on preventing and combating money laundering and terrorist financing and amending and supplementing certain legislative acts (“Law 129/2019”) has been amended by the Government Emergency Ordinance No. 53/2022 published in the Official Gazette, Part I, No. 394 of 21 April 2022 (“GEO 53/2002”).

Emergency Ordinance No. 58/2022 amending and supplementing consumer protection acts (“GEO No. 58/2022”) was published in the Official Gazette, Part I, No. 456 of 6 May 2022. The act entered into force on 28 May 2022.

Tuca Zbarcea & Asociatii, working with Freshfields Bruckhaus Deringer, has successfully represented the Romanian Rugby Federation before an independent panel appointed by World Rugby in proceedings regarding player eligibility rules for the 2023 Rugby World Cup qualifiers.

Tuca Zbarcea & Asociatii has successfully represented WTE Wassertechnik before Romania's National Council for Solving Complaints and a court of appeal in several disputes related to awarding the works contracts for the Cluj-Salaj water pipeline.

Law No. 69/2022 amending and supplementing Law No. 8/1996 on copyright and related rights (“Law No. 69/2022”) was published in the Official Journal of Romania, Part I No. 321 of 1 April 2022 and, with the exception of a few provisions which will become applicable 30 days or 6 months after publication, entered into force on 4 April 2022.

The Court of Justice of the European Union (CJEU) released its judgement in Case C-333/20 Berlin Chemie on 7 April 2022. This extremely important ruling might mark the turning point in the controversial VAT fixed establishment topic. Although numerous European courts had already passed decisions on this issue, the approach taken by tax authorities in many EU Member States, including Romania, have been aggressive and inconsistent, with significant tax assessments made against companies mainly due to uncertainties in the existing legislation.

Tuca Zbarcea & Asociatii has advised a club of local banks, led by arranger, facility agent, and security agent OTP Bank Romania S.A., on a RON 431 million syndicated facility agreement for the financing of Aaylex One group. Nestor Nestor Diculescu Kingston Petersen advised Aaylex One on the deal.

This review was prepared for Ukrainian refugees by the law firm Tuca Zbarcea & Asociatii upon request and in coordination with the international legal network Multilaw and Ukrainian law firm Arzinger. The review is as of March 11, 2022. The review is not a legal advice and is for informational purposes only. For updates, please follow www.multilaw.com and/or www.arzinger.ua

Emergency Ordinance No. 20/2022 for amending and supplementing certain normative acts, as well as for regulating humanitarian and assistance measures (“GEO 20/2022”) was published in the Official Gazette No. 231/2022.

Ijdelea & Associates has advised the Splend Group on a project financing transaction of over EUR 25 million with US-based Partners for Growth VI. Tuca Zbarcea & Asociatii and, reportedly, Australia-based Hamilton Locke advised Partners for Growth.

Ordinance No. 11/2022 for the amendment and completion of certain normative acts, as well as for the amendment of several deadlines (“GO 11/2022”) was published In the Official Gazette No. 96/2022. This ordinance brings amendments and completions to both Law No. 227/2015 regarding the Fiscal Code (“Fiscal Code”) as well as to Law No. 207/2015 regarding the Fiscal Procedure Code (“Fiscal Procedure Code”).

Tuca Zbarcea & Asociatii has advised Revetas Capital on its disposal of the Vitantis Shopping Center to Praktiker Real Estate Romania. Moldovan & Partners reportedly advised Praktiker.

The National Recovery and Resilience Plan (PNRR), the pandemic’s legal implications, and energy are the hottest topics in Romania right now, with public procurement being a common thread, according to Tuca Zbarcea & Asociatii Litigation Partner Dan Cristea.

Tuca Zbarcea & Asociatii has advised the AYA Properties Fund on its acquisition of Record Park Offices from Speedwell and Baltisse for EUR 35 million.

Radu Taracila Padurari Retevoescu has advised Meridiam on its acquisition of a shareholding stake in Netcity Telecom from E-Infra. Tuca Zbarcea & Asociatii advised the seller.

Tuca Zbarcea & Asociatii has announced six new partners in its most recent promotion round. As of January 1, 2022, the firm’s new Partners are Mihai Anghel, Oana Gavril, Catalina Mihailescu, Andreea Oprisan, Alexandra Peres, and Alina Ungureanu.