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Tuca & Asociatii participated in the Romanian Banking Forum This year's meeting of the Romanian Banking Forum took place at the JW Marriott Grand Hotel with the main topic: What will Romania look like after 2007? This year's meeting of the Romanian Banking Forum took place at the JW Marriott Grand Hotel with the main topic: What will Romania look like after 2007? The event was organized by FinMedia, with a special contribution made by the National Bank of Romania, the Romanian Banking Association and the Romanian Banking Institute on November 3rd, 2005. During the Forum, Government representatives, bankers, important business leaders, financial consultants and lawyers examined the impact on the Romanian banking system of EU enlargement, with special focus on the monetary policy of the Central Bank and commercial banks, the electronic payment system and privatization within the banking sector. Florentin Tuca, Managing Partner of Tuca & Asociatii addressed the audience with a talk about privatization within the banking sector. He identified several similarities and differences in privatizations that took place in 2000 and 2005. According to Florentin Tuca, back in 2000, the banking sector was boosted by the successful privatization of several important banks, such as Banc Post, Banca Agricola and Banca Romana pentru Dezvoltare. Also, in 2005, two major privatizations are expected to be concluded – Banca Comerciala Romana, the largest Romanian bank, and CEC – the oldest Romanian bank. As far as BCR is concerned, "once the majority stake in BCR is finally sold to a foreign investor, the Authority for State Assets Recovery (AVAS) will conclude its mandate with what is likely to be Eastern Europe's "Privatization of the Year 2005" and, at any rate, the most resounding privatization deal ever concluded in Romania", pointed out Florentin Tuca. Other key-note speakers were Mr. Mugur Isarescu, Governor of the National Bank of Romania, Mr. Daniel Daianu, economics professor and former Minister of Finance, Mr. Radu Gratian Ghetea, President of the Romanian Banking Association, Mr. Valentin Lazea, Chief-economist of the National Bank of Romania, Mr. Patrick Gelin, President of BRD – Groupe Societe Generale, Mr. Steven van Groningen, President of Raiffeisen Bank, Mr. Petre Tulin, President of HVB – Banca pentru Locuinte and many more. Having practiced for over 14 years, Florentin Tuca is experienced in project finance, concessions and other forms of PPP/PFI projects, notably in the fields of infrastructure and energy. He has also handled, as co-ordinator, several privatization processes in the banking sector, such as the privatization of Banca Agricola, Banc Post, Banca Comerciala Romana, Casa Romana de Economii si Consemnatiuni (CEC) and has also assisted various international financial institutions, investment funds, financial investment companies, investment management companies, as well as insurance companies.
November 23, 2005
Ţuca & Asociaţii participated in the Romanian Banking Forum

This year's meeting of the Romanian Banking Forum took place at the JW Marriott Grand Hotel with the main topic: What will Romania look like after 2007? [+]

This year's meeting of the Romanian Banking Forum took place at the JW Marriott Grand Hotel with the main topic: What will Romania look like after 2007?

The event was organized by FinMedia, with a special contribution made by the National Bank of Romania, the Romanian Banking Association and the Romanian Banking Institute on November 3rd, 2005. During the Forum, Government representatives, bankers, important business leaders, financial consultants and lawyers examined the impact on the Romanian banking system of EU enlargement, with special focus on the monetary policy of the Central Bank and commercial banks, the electronic payment system and privatization within the banking sector.

Florentin Ţuca, Managing Partner of Ţuca & Asociaţii addressed the audience with a talk about privatization within the banking sector. He identified several similarities and differences in privatizations that took place in 2000 and 2005. According to Florentin Ţuca, back in 2000, the banking sector was boosted by the successful privatization of several important banks, such as Banc Post, Banca Agricola and Banca Romana pentru Dezvoltare. Also, in 2005, two major privatizations are expected to be concluded – Banca Comerciala Romana, the largest Romanian bank, and CEC – the oldest Romanian bank. As far as BCR is concerned, "once the majority stake in BCR is finally sold to a foreign investor, the Authority for State Assets Recovery (AVAS) will conclude its mandate with what is likely to be Eastern Europe's "Privatization of the Year 2005" and, at any rate, the most resounding privatization deal ever concluded in Romania", pointed out Florentin Ţuca.

Other key-note speakers were Mr. Mugur Isarescu, Governor of the National Bank of Romania, Mr. Daniel Daianu, economics professor and former Minister of Finance, Mr. Radu Gratian Ghetea, President of the Romanian Banking Association, Mr. Valentin Lazea, Chief-economist of the National Bank of Romania, Mr. Patrick Gelin, President of BRD – Groupe Societe Generale, Mr. Steven van Groningen, President of Raiffeisen Bank, Mr. Petre Tulin, President of HVB – Banca pentru Locuinte and many more.

Having practiced for over 14 years, Florentin Ţuca is experienced in project finance, concessions and other forms of PPP/PFI projects, notably in the fields of infrastructure and energy. He has also handled, as co-ordinator, several privatization processes in the banking sector, such as the privatization of Banca Agricola, Banc Post, Banca Comerciala Romana, Casa Romana de Economii si Consemnatiuni (CEC) and has also assisted various international financial institutions, investment funds, financial investment companies, investment management companies, as well as insurance companies.

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The firm formerly known as Tuca & Asociatii was granted the Special Award for Best Legal Achievement in 2005 The Romania Top 100 Gala Award, the annual celebration of the best companies' achievements organized by FinMedia, saw some 60 top representatives from private companies, state-owned companies, Government officials and media delegates gathering together. Several awards were given to outstanding companies in Romania, ranked in the top 10 according to turnover and stock market capitalization. The Romania Top 100 Gala Award, the annual celebration of the best companies' achievements organized by FinMedia, saw some 60 top representatives from private companies, state-owned companies, Government officials and media delegates gathering together. Several awards were given to outstanding companies in Romania, ranked in the top 10 according to turnover and stock market capitalization. This year, the organizers granted a Special Award for "Best Legal Achievement" to the formerly known Tuca & Asociatii law firm. According to the FinMedia representatives, "in just a few months since its establishment, Tuca & Asociatii have made a spectacular ascent to the top echelon of the Romanian legal market." "Receiving the Special Award for "Best Legal Achievement" came as a pleasant surprise and we would like to thank FinMedia for awarding us this special prize", said Stefan Damian, Deputy Managing Partner of Tuca & Asociatii. "At the same time, this award comes with the obligation and responsibility to maintain our high standards in the legal field and it renews our commitment to the future. Unable to find anything to say off the cuff, I'll simply quote Dan - one of our Partners - who once said that "the challenge is not simply to get into the top tier of any business, it's to stay there", concluded Tuca & Asociatii's representative.
November 21, 2005
The firm formerly known as Tuca & Asociatii was granted the Special Award for Best Legal Achievement in 2005

The Romania Top 100 Gala Award, the annual celebration of the best companies' achievements organized by FinMedia, saw some 60 top representatives from private companies, state-owned companies, Government officials and media delegates gathering together. Several awards were given to outstanding companies in Romania, ranked in the top 10 according to turnover and stock market capitalization. [+]

The Romania Top 100 Gala Award, the annual celebration of the best companies' achievements organized by FinMedia, saw some 60 top representatives from private companies, state-owned companies, Government officials and media delegates gathering together. Several awards were given to outstanding companies in Romania, ranked in the top 10 according to turnover and stock market capitalization.

This year, the organizers granted a Special Award for "Best Legal Achievement" to the formerly known Ţuca & Asociaţii law firm. According to the FinMedia representatives, "in just a few months since its establishment, Ţuca & Asociaţii have made a spectacular ascent to the top echelon of the Romanian legal market."

"Receiving the Special Award for "Best Legal Achievement" came as a pleasant surprise and we would like to thank FinMedia for awarding us this special prize", said Ştefan Damian, Deputy Managing Partner of Ţuca & Asociaţii. "At the same time, this award comes with the obligation and responsibility to maintain our high standards in the legal field and it renews our commitment to the future. Unable to find anything to say off the cuff, I'll simply quote Dan - one of our Partners - who once said that "the challenge is not simply to get into the top tier of any business, it's to stay there", concluded Ţuca & Asociaţii's representative.

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Lawyers from the firm formerly known as Tuca & Asociatii contributed to Romania winning a multi-million dollar international dispute against Noble Ventures, Inc. Lawyers from the firm formerly known as Tuca & Asociatii scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington. Lawyers from the firm formerly known as Tuca & Asociatii scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington. The legal team was conducted by Florentin Tuca, Managing Partner and Cornel Popa, Partner; other members of the legal team included Cristina Metea, Senior Associate and Levana Zigmund, Senior Associate. Noble Ventures, Inc. submitted its claim under the bilateral investment treaty between the United States and Romania to arbitration under the ICSID Convention in August 2001. Noble Ventures` claimed as much as USD 447 million in damages from Romania, challenging Romania's treatment of Noble Ventures and its investment in Combinatul Siderurgic Resita S.A. (CSR) following the steel company's privatization. The constitution of the tribunal dated January 16, 2003, included a German arbitrator, Mr. Karl-Heinz Böckstiegel, chairman, a British arbitrator, Mr. Jeremy Lever, and a French arbitrator, Pierre-Marie Dupuy. The ICSID award was communicated to both sides on Wednesday, October 12, 2005 in Washington, at 15.00 hours (22.00 hours, Bucharest time). A three-member ICSID arbitration tribunal unanimously dismissed Noble Ventures` claims in their entirety. The Romanian State shall only bear the expenses for taxes, fees and other court-related costs, according to the order for splitting the cost of arbitration. The successful outcome of the arbitration in Washington comes after four years of extensive work undertaken by lawyers, legal experts, accounting experts and other experts in the steel industry. The defense strategy was revealed in Washington by a team made up of more than fifteen Romanian and American lawyers who used about thirty witnesses from among the Romanian authorities, four Romanian legal experts and one English legal expert, a British company expert in the steel industry and an American company specialising in accounting expertise. The case involved tens of thousands of pages and covered very complex international law matters (particularly issues related to expropriation, standard of fair and equitable treatment, investment protection etc.) as well as relevant Romanian legal matters (privatization, fiscal law, bankruptcy and insolvency, contract law, companies' law, employment etc.).
November 11, 2005
Lawyers from the firm formerly known as Ţuca & Asociaţii contributed to Romania winning a multi-million dollar international dispute against Noble Ventures, Inc.

Lawyers from the firm formerly known as Ţuca & Asociatii scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington. [+]

Lawyers from the firm formerly known as Ţuca & Asociaţii scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington.

The legal team was conducted by Florentin Ţuca, Managing Partner and Cornel Popa, Partner; other members of the legal team included Cristina Metea, Senior Associate and Levana Zigmund, Senior Associate.

Noble Ventures, Inc. submitted its claim under the bilateral investment treaty between the United States and Romania to arbitration under the ICSID Convention in August 2001.

Noble Ventures` claimed as much as USD 447 million in damages from Romania, challenging Romania's treatment of Noble Ventures and its investment in Combinatul Siderurgic Resita S.A. (CSR) following the steel company's privatization. The constitution of the tribunal dated January 16, 2003, included a German arbitrator, Mr. Karl-Heinz Böckstiegel, chairman, a British arbitrator, Mr. Jeremy Lever, and a French arbitrator, Pierre-Marie Dupuy.

The ICSID award was communicated to both sides on Wednesday, October 12, 2005 in Washington, at 15.00 hours (22.00 hours, Bucharest time). A three-member ICSID arbitration tribunal unanimously dismissed Noble Ventures` claims in their entirety. The Romanian State shall only bear the expenses for taxes, fees and other court-related costs, according to the order for splitting the cost of arbitration.

The successful outcome of the arbitration in Washington comes after four years of extensive work undertaken by lawyers, legal experts, accounting experts and other experts in the steel industry. The defense strategy was revealed in Washington by a team made up of more than fifteen Romanian and American lawyers who used about thirty witnesses from among the Romanian authorities, four Romanian legal experts and one English legal expert, a British company expert in the steel industry and an American company specialising in accounting expertise.

The case involved tens of thousands of pages and covered very complex international law matters (particularly issues related to expropriation, standard of fair and equitable treatment, investment protection etc.) as well as relevant Romanian legal matters (privatization, fiscal law, bankruptcy and insolvency, contract law, companies' law, employment etc.).

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