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 and Tuca Zbarcea & Asociatii Advise on Splend Group's EUR 25 Million Financing
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.
Romania: New Series of Tax Amendments
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 Advises Revetas Capital on Sale of Shopping Center to Praktiker
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 Buzz in Romania: Interview with Dan Cristea of Tuca Zbarcea & Asociatii
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 Advises on Speedwell and Baltisse Sale of Record Park Offices to AYA
Tuca Zbarcea & Asociatii has advised the AYA Properties Fund on its acquisition of Record Park Offices from Speedwell and Baltisse for EUR 35 million.
RTPR and Tuca Zbarcea & Asociatii Advise on Meridiam’s Acquisition of Stake in Netcity
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.
Six New Partners at Tuca Zbarcea & Asociatii
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.
Tuca Zbarcea & Asociatii and Dentons Advise on BT and OTP Financing for AIG's Acquisition of Thames Farming
Tuca Zbarcea & Asociatii has advised Banca Transilvania on a EUR 49.5 million syndicated loan to the African Industries Group financing the acquisition of Thames Farming Enterprises. Dentons advised AIG on financing and the English law-governed acquisition, with Deloitte Legal's Reff & Associates also reportedly advising on the transaction.
Tuca Zbarcea & Asociatii and Berechet Rusu Hirit Advise on Electrica's Acquisition of Foton Power Energy from Monsson
Tuca Zbarcea & Asociatii has advised Romanian company Electrica on its EUR 4.2 million acquisition of Foton Power Energy from Monsson. Berechet Rusu Hirit advised the seller.
Tuca Zbarcea & Asociatii Advises BMC Truck&Bus on Public Transport Tenders
Tuca Zbarcea & Asociatii has advised BMC Truck&Bus on EUR 60 million tender procedures regarding the supply of 151 electric buses for public transport in 11 municipalities in Romania.
Tuca Zbarcea & Asociatii Provides Pro Bono Legal Support to Enescu Festival Organizer in Dispute with Historic Auction House
Tuca Zbarcea & Asociatii has provided pro bono legal assistance to George Enescu International Festival organizer Artexim in a dispute with the Historic Auction House in connection with the auctioning of manuscripts and a violin that had presumably belonged to Romanian composer George Enescu.
Tuca Zbarcea & Asociatii and Popovici Nitu Stoica & Asociatii Advise on Autonet’s Acquisition of Augsburg
Tuca Zbarcea & Asociatii, working with Swiss law firm Kellerhals Carrard, has advised Autonet Group Holding on its acquisition of a 51% stake in Augsburg International. Popovici Nitu Stoica & Asociatii advised the shareholders of Augsburg International.
Tuca Zbarcea & Asociatii, Biris Goran, and the Law Chamber Advise on Zacaria Industrial’s Sale of Industrial Parks Portfolio to CTP
Tuca Zbarcea & Asociatii has advised Zacaria Industrial on the sale of its industrial parks’ portfolio to industrial and logistics parks developer CTP. Biris Goran and the Law Chamber advised the buyer on the transaction.
Reff & Associates and Tuca Zbarcea & Asociatii Advise on Speedwell's Refinancing of Record Park Offices
Deloitte Legal's Reff & Associates has advised Belgian developer Speedwell in refinancing the loan granted by BRD Groupe Societe Generale for the development of the Record Park Offices project in Cluj-Napoca. Tuca Zbarcea & Asociatii advised the bank.
Tuca Zbarcea & Asociatii and Berechet Rusu Hirit Advise on Electrica's Acquisition of Wind and Solar Projects from Monsson
Tuca Zbarcea & Asociatii has advised Electrica on its acquisition of a 207-megawatt wind and solar project portfolio from Monsson. Berechet Rusu Hirit advised the seller.
Romanian Company Law Restrictions For Intra-group Guarantees or Intra-group Lending
Intra-group loans and guarantees are frequently encountered in the activity of group companies, especially when centralized capital and liquidity management systems are in place. Intra-group loans are often used as tools to maximize liquidity at the group level while reducing the cost of funds, while the guarantees provide group companies with better access to external financing or high-value commercial contracts.