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Have You forgotten About Your Romanian Investment?

During the last period we have received enquiries concerning property transactions and property led transactions all of which arose out of property purchases prior to 2009. Many investors both foreign and local made purchases during those times which they now regret.  The reasons for this regret are many but they now have to deal with [...]

Contract Negotiating Conclusion

As will have been seen from the previous articles the involvement of the lawyers can cause further delays in negotiating and closing the transaction. In many companies they do not employ lawyers.  They have a person who is defined as a legal advisor.  The legal advisor will have a law degree but is not usually [...]

By | June 22nd, 2015|Categories: Uncategorized|0 Comments

Contract Negotiating Romanian Style Part 3

Whilst not specifically part of the initial contract negotiations the introduction of lawyers into the negotiations will add a further dynamic.  Depending on the size of the company the legal department may have been part of the original negotiating team and this can be both a hindrance and a help. The majority of larger companies [...]

Contract Negotiating Romanian Style Part 1

I was recently reading about negotiations in China and how you need to have great patience and understanding.  I brought to mind the situation in Romania when I first came here in 1990.  The situation was not very different then to the Chinese experience.  But what has changed, or has indeed anything changed since those [...]

AERO a re-birth of the Romanian Stock Market ?

Since the beginning of the year we have had a number of enquiries about the AERO stock market in Romania.  These enquiries have come from companies who wanted to know about trading as well as those who were considering going to the market either for a capital raising or a future IPO. AERO came into being because [...]

By | April 27th, 2015|Categories: Uncategorized|0 Comments

Employers Liability

Employment issues are always an interesting topic in Romania.  As Romania has moved to a market economy there has been a revolution in employer/employee relationships.  Depending on the political persuasion of the Government the rules are either relaxed or tightened. Recently we have been asked to advise on employer liability in relation to the acts of employees.  Because of [...]

By | April 21st, 2015|Categories: Uncategorized|0 Comments

Clarity in Representations and Warranties in Share Transactions

Since the beginning of the year we have seen an increase in the number of share transactions, either in the terms of M&A transactions or intercompany transactions following re-organization. I thought that this week it would be a good idea to consider some of the potential pitfall in an M&A transaction especially regarding some popular misconceptions.  [...]

By | March 31st, 2015|Categories: Uncategorized|0 Comments

Hope Springs Eternal

I am writing the blog today on the second day of spring according to the Romanian historical calendar.  Those of you familiar with the date will realise that it is Martsisor when men give small tokens to women and bring a smile to their faces.  Not Valentine’s Day but a more Romanian festival. Today has [...]

By | March 2nd, 2015|Categories: Uncategorized|0 Comments

Once Step Forward Two Steps Back

I have written in the past about the stability of the law and the constant changes which can be experienced.  One of the areas of taxation where this is sometimes apparent is in the realm of Value Added Tax.  Because the law is more governed by the European Union directives and case law there is [...]

By | February 24th, 2015|Categories: Uncategorized|0 Comments

Has Romania moved forward?

Following the financial crisis of 2007/8 Romania entered into a number of arrangements with international financial institutions. This led to financial discipline which meant that Romania was one of the countries in which internal borrowing was reduced.  As major economies have not reduced there borrowings and world indebtedness has increased one can ask what was the benefit [...]

By | February 9th, 2015|Categories: Uncategorized|0 Comments