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 has successfully represented Iris-Aly Explorer in a dispute related to the concession of public property goods.

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 has advised Wirtualna Polska on its acquisition of the Szallas Group from Portfolion Capital Partners and private individuals. Baker McKenzie advised Portfolion.

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.

Contributed by Domokos Partners.

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.

Nestor Nestor Diculescu Kingston Petersen, working with Wachtell Lipton Rosen & Katz, has advised International Game Technology on the acquisition of iSoftBet. Firon Bar-Nir advised the sellers.

Former Veolia Energie Romania Head of Legal Department & Data Protection Officer Georgeta Szabo has joined CWP Global in Bucharest as Legal Manager.

PeliPartners has advised WDP on the acquisition of the Arad Business Park logistics center.

Wolf Theiss, working with Aird & Berliss, has advised Jade Power Trust on the sale of its portfolio of six renewable energy projects to Enery Power Holding. Schoenherr advised the buyer.

Romania has recently launched a State aid scheme for the purpose of encouraging investments in the manufacturing industry, with view, on the one hand, to overcome current extensive labour shortages and the diminished trade flows to and from Ukraine caused by the armed conflict therein, and, on the other hand, to facilitate access to new international markets.

Some of our day-to-day activities involve conducting legitimate interest assessments. In this context, we have repeatedly dealt with the question “What makes an interest ‘legitimate’?”.

Former Noerr Associate Partner in Romania Anca Mihailescu has left the firm and founded Mihailescu Legal.

Romanian firm Stratulat Albulescu has opened a new office in Chisinau, Republic of Moldova, with Sabina Cerbu joining as a Partner.

Roxana Dudau has joined Wolf Theiss' Bucharest office as Partner and head of Real Estate & Construction practice in Romania and other jurisdictions of the firm. 

PeliPartners has advised Global Trade Center on the sale of Bucharest's Cascade Office Building to Hungarian Crown Holding Kft.

Law 216 of 14 July 2022 amends and supplements Law 85/2014 on insolvency prevention and insolvency proceedings and other legislation. The new law transposes the business prevention mechanisms introduced at European level by Directive 2019/1023.