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Financial Times: Tuca Zbarcea & Asociatii tops this year’s FT Continental European table on innovation Tuca Zbarcea & Asociatii is the sole Eastern European law firm included in the Financial Times` Innovative Lawyers report and takes top ranking as the most innovative Continental European law firm in 2009. It is for the first time that an East European law firm holds a top slot in these prestigious awards, alongside the traditional leaders of the law league tables, including the Magic Circle ones. Tuca Zbarcea & Asociatii received a total of 288 points for all entries submitted and ranked 1st in the FT Continental European table, followed by Garrigues (Spain), Portolano Colella Cavallo (Italy), Arthur Cox (Ireland), Cuatrecasas (Spain). Also, the firm ranked 7th in the general FT Law 50 index, as it surpassed a range of notable players in the European legal industry. Tuca Zbarcea & Asociatii is the sole Eastern European law firm included in the Financial Times` Innovative Lawyers report and takes top ranking as the most innovative Continental European law firm in 2009. On October 22nd, the Financial Times launched its fourth edition of the Financial Times Innovative Lawyers report, in the presence of more than 400 lawyers and in-house counsels from law firms and leading companies across Europe. The content of the 2009 report reflects the shift of focus onto lawyers’ activities in the light of the credit crisis and economic recession. It is an in-depth research into the ways lawyers have helped their clients adapt to changing market conditions and, implicitly, how the lawyers have adapted. For the third year running, Romania has been represented among the elite of the European legal industry, alongside well-known firms such as Clifford Chance, Freshfields, Allen & Overy, Eversheds, DLA Piper, Linklaters, Slaughter and May etc. Tuca Zbarcea & Asociatii received a total of 288 points for all entries submitted and secured the top slot in the FT Continental European table, followed by Garrigues (Spain), Portolano Colella Cavallo (Italy), Arthur Cox (Ireland), Cuatrecasas (Spain). A total of 18 law firms were ranked in the FT Continental European table from countries such as France, Germany, Turkey, Netherlands, Austria, Portugal, Sweden, with scores ranging from 18 to 240 points. „Tuca Zbarcea & Asociatii, the Romanian firm, moved quickly to develop and implement a firm-wide anti-crisis programme at a time when Romania was yet to be affected by the economic downturn”, stated the journalists from the Financial Times. In the FT Law 50 index which listed the top 50 performers in Europe (including the London-based international law firms), Tuca Zbarcea & Asociatii ranked 7th as it surpassed a range of notable players such as CMS, Ashurst, Garrigues, DLA Piper, Simmons and Simmons, Norton Rose, Cuatrecasas, White & Case, Shearman & Sterling, Noerr Stiefenhofer Lutz, Wolf Theiss. It is for the first time that an East European law firm holds a top slot in these prestigious awards, alongside the traditional leaders of the law league tables, including the Magic Circle ones. “The negative effects of the financial crisis and resulting world-wide recession forced lawyers to rethink their client service and management models. With no exception, all of the players in the European legal market have reacted to the tougher market conditions. For many, innovation became the key to weather the crisis”, said Florentin Tuca, Managing Partner at Tuca Zbarcea & Asociatii. The efforts and the creativity of the Romanian law firm were recognised in various categories of the report, thus confirming its unequivocal commitment to apply robust and long-lasting principles of professional business conduct. Tuca Zbarcea & Asociatii was ranked in the following areas of the report: Standout in Law Firm Management, for having assembled a range of measures to address the economic crisis, from discounting fees to setting-up an insolvency practice and a Crisis Knowledge Center www.ckc.tuca.ro; Standout in Billing and Fees and Highly Commended in the same category of the report, for implementing a risk-sharing billing method with banking clients and, respectively, for offering fixed-fees in Romanian Lei in time of currency fluctuations; Commended in Financial Crisis and the Downturn, for setting-up TZA Insolventa S.P.R.L., a separate specialist insolvency unit; Commended in Financial Services, for having successfully managed and implemented the reshaping process of Erste’s Romanian asset management company; Commended in Changing the Rules, for putting together Romania's most complex memorandum of understanding to facilitate the country's largest foreign direct investment to be undertaken by Austrian company Voestalpine AG; Commended in Government, for successfully defending, on a pro bono basis, the Romanian Government in a file before the Constitutional Court of Romania initiated by a local party that challenged the uninominal Parliamentary elections of November 2008. According to the Financial Times’ representatives, a number of 600 submissions were received from law firms across Europe and the top 50 performers were presented in the FT Law 50 index. Each submission is then thoroughly assessed by the Financial Times’ journalists for its originality, rationale and impact of the innovation. More than 500 telephone and face-to-face, qualitative, in-depth interviews with lawyers, referees and expert commentators were conducted.
October 25, 2009
Financial Times: Ţuca Zbârcea & Asociaţii tops this year’s FT Continental European table on innovation

Ţuca Zbârcea & Asociaţii is the sole Eastern European law firm included in the Financial Times` Innovative Lawyers report and takes top ranking as the most innovative Continental European law firm in 2009. It is for the first time that an East European law firm holds a top slot in these prestigious awards, alongside the traditional leaders of the law league tables, including the Magic Circle ones.     

Ţuca Zbârcea & Asociaţii received a total of 288 points for all entries submitted and ranked 1st in the FT Continental European table, followed by Garrigues (Spain), Portolano Colella Cavallo (Italy), Arthur Cox (Ireland), Cuatrecasas (Spain). Also, the firm ranked 7th in the general FT Law 50 index, as it surpassed a range of notable players in the European legal industry. [+]

Ţuca Zbârcea & Asociaţii is the sole Eastern European law firm included in the Financial Times` Innovative Lawyers report and takes top ranking as the most innovative Continental European law firm in 2009.

On October 22nd, the Financial Times launched its fourth edition of the Financial Times Innovative Lawyers report, in the presence of more than 400 lawyers and in-house counsels from law firms and leading companies across Europe.

The content of the 2009 report reflects the shift of focus onto lawyers’ activities in the light of the credit crisis and economic recession. It is an in-depth research into the ways lawyers have helped their clients adapt to changing market conditions and, implicitly, how the lawyers have adapted.

For the third year running, Romania has been represented among the elite of the European legal industry, alongside well-known firms such as Clifford Chance, Freshfields, Allen & Overy, Eversheds, DLA Piper, Linklaters, Slaughter and May etc.

Ţuca Zbârcea & Asociaţii received a total of 288 points for all entries submitted and secured the top slot in the FT Continental European table, followed by Garrigues (Spain), Portolano Colella Cavallo (Italy), Arthur Cox (Ireland), Cuatrecasas (Spain). A total of 18 law firms were ranked in the FT Continental European table from countries such as France, Germany, Turkey, Netherlands, Austria, Portugal, Sweden, with scores ranging from 18 to 240 points.

„Ţuca Zbârcea & Asociaţii, the Romanian firm, moved quickly to develop and implement a firm-wide anti-crisis programme at a time when Romania was yet to be affected by the economic downturn”, stated the journalists from the Financial Times.

In the FT Law 50 index which listed the top 50 performers in Europe (including the London-based international law firms), Ţuca Zbârcea & Asociaţii ranked 7th as it surpassed a range of notable players such as CMS, Ashurst, Garrigues, DLA Piper, Simmons and Simmons, Norton Rose, Cuatrecasas, White & Case, Shearman & Sterling, Noerr Stiefenhofer Lutz, Wolf Theiss. It is for the first time that an East European law firm holds a top slot in these prestigious awards, alongside the traditional leaders of the law league tables, including the Magic Circle ones.     

“The negative effects of the financial crisis and resulting world-wide recession forced lawyers to rethink their client service and management models. With no exception, all of the players in the European legal market have reacted to the tougher market conditions. For many, innovation became the key to weather the crisis”, said Florentin Ţuca, Managing Partner at Ţuca Zbârcea & Asociaţii.

The efforts and the creativity of the Romanian law firm were recognised in various categories of the report, thus confirming its unequivocal commitment to apply robust and long-lasting principles of professional business conduct.

Ţuca Zbârcea & Asociaţii was ranked in the following areas of the report:

  • Standout in Law Firm Management, for having assembled a range of measures to address the economic crisis, from discounting fees to setting-up an insolvency practice and a Crisis Knowledge Center www.ckc.tuca.ro;
  • Standout in Billing and Fees and Highly Commended in the same category of the report, for implementing a risk-sharing billing method with banking clients and, respectively, for offering fixed-fees in Romanian Lei in time of currency fluctuations;
  • Commended in Financial Crisis and the Downturn, for setting-up TZA Insolvenţă S.P.R.L., a separate specialist insolvency unit;
  • Commended in Financial Services, for having successfully managed and implemented the reshaping process of Erste’s Romanian asset management company;
  • Commended in Changing the Rules, for putting together Romania's most complex memorandum of understanding to facilitate the country's largest foreign direct investment to be undertaken by Austrian company Voestalpine AG;
  • Commended in Government, for successfully defending, on a pro bono basis, the Romanian Government in a file before the Constitutional Court of Romania initiated by a local party that challenged the uninominal Parliamentary elections of November 2008.

According to the Financial Times’ representatives, a number of 600 submissions were received from law firms across Europe and the top 50 performers were presented in the FT Law 50 index. Each submission is then thoroughly assessed by the Financial Times’ journalists for its originality, rationale and impact of the innovation. More than 500 telephone and face-to-face, qualitative, in-depth interviews with lawyers, referees and expert commentators were conducted.

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Lawyers from Tuca Zbarcea & Asociatii and White & Case (US) win second ICSID arbitration for Romania Tuca Zbarcea & Asociatii and White & Case (US) scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington D.C. In the proceeding between Eastern Duty Free (EDF) Services Ltd. and Romania, the arbitration tribunal fully dismissed the action and claims for compensation requested by EDF Services Ltd. Tuca Zbarcea & Asociatii and White & Case (US) scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington D.C. In the proceeding between Eastern Duty Free (EDF) Services Ltd. and Romania, the arbitration tribunal fully dismissed the action and claims for compensation requested by EDF Services Ltd. EDF Services Ltd. claimed as much as USD 110,000,000 in damages from Romania, challenging Romania’s treatment of EDF Services Ltd. and its investment in Otopeni International Airport, under the terms of a concession with the Ministry of Transportation as public assets regulated by public law. The constitution of the tribunal dated December 20, 2005 included an Italian arbitrator, Mr. Piero Bernardini, chairman, a U.S. arbitrator, Mr. Arthur W. Rovine, and a French arbitrator, Mr. Yves Derains. EDF Services Ltd. submitted its claim under the bilateral investment treaty signed between the Government of Great Britain and Northern Ireland and the Government of Romania for the Promotion and Reciprocal Protection of Investments to arbitration under the ICSID Convention in July 2005. The ICSID award was dispatched to both sides on Thursday, October 08, 2009 in Washington D.c., at 17:48 hours. A three-member ICSID arbitration tribunal unanimously decided that Romania did not breach its obligations under the bilateral investment treaty and that the claims of EDF Services Ltd were to be dismissed with prejudice. Whilst noting that the traditional position in investment arbitration, in contrast to commercial arbitration, has been to follow the public international rule which does not apply the principle that the loser pays the costs of the arbitration and the costs of the prevailing party, in the instant case the arbitration tribunal held that parties should share equally the costs of the arbitration and, by majority, that EDF Services Ltd. should pay the sum of USD 6,000,000 on account of legal fees and other costs borne by Romania. The successful outcome of the arbitration in Washington D.C. comes after four years of extensive work undertaken by lawyers, legal experts, accounting experts etc. The defense strategy was revealed by a team made up of more than 20 Romanian and American lawyers who used fourteen witnesses from among the Romanian authorities, four Romanian legal experts, as well as other experts specialising in accounting, fiscal expertise and translators. The case file involved approximately 60,000 pages and covered a 12-year history of the Otopeni International Airport, addressing numerous corporate and contract law, public procurement issues, standard of fair and equitable treatment and investment protection, as well as bribery accusations against Romanian authorities. “It is the second victory obtained by our team before the international arbitration court in Washington D.C. A complex trial that raised numerous Romanian and international public legal issues, and which, after four years and more than 12,000 hours spent by our lawyers on the case, ended with an award favorable to Romania”, said Levana Zigmund, Partner in Tuca Zbarcea & Asociatii and coordinator of the Romanian team of lawyers representing Romania. Romania was represented by a team of lawyers from Tuca Zbarcea & Asociatii in Bucharest and White & Case in Washington D.c., respectively the same lawyers who defended Romania in a similar case won against Noble Ventures Inc., including inter alia: from Tuca Zbarcea & Asociatii - Florentin Tuca, Managing Partner, Levana Zigmund, Partner, Cristina Metea, Partner, Cornel Popa, Partner and Anca Puscasu, Managing Associate and from White & Case (US) - Abby Cohen Smutny, Partner and Darryl Lew, Partner. *** Tuca Zbarcea & Asociatii now boasts 82 lawyers, including 15 partners and 42 support staff. The Dispute Resolution Practice Group is one of the largest departments within the firm, comprising over 27 lawyers dedicating 100% of their time to handling all aspects of litigation and arbitration procedures. Our lawyers have an in-depth working knowledge of various arbitration procedural rules, such as ICC, UNCITRAL and ICSID and have dealt with complex substantive law issues in specific litigation circumstances. They have represented clients at all levels of the local judicial system, from the lower courts to the High Court of Justice, as well as in special proceedings in the Constitutional Court. The group also acts successfully in public international law arbitration, having assisted both investors and state bodies in disputes flowing from breaches of bilateral investment protection treaties.
October 13, 2009
Lawyers from Ţuca Zbârcea & Asociaţii and White & Case (US) win second ICSID arbitration for Romania

Ţuca Zbârcea & Asociaţii and White & Case (US) scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington D.C. 

In the proceeding between Eastern Duty Free (EDF) Services Ltd. and Romania, the arbitration tribunal fully dismissed the action and claims for compensation requested by EDF Services Ltd. [+]

Ţuca Zbârcea & Asociaţii and White & Case (US) scored a major arbitration victory before the International Center for Settlement of Investment Disputes (ICSID) within the World Bank in Washington D.C. 

In the proceeding between Eastern Duty Free (EDF) Services Ltd. and Romania, the arbitration tribunal fully dismissed the action and claims for compensation requested by EDF Services Ltd.

EDF Services Ltd. claimed as much as USD 110,000,000 in damages from Romania, challenging Romania’s treatment of EDF Services Ltd. and its investment in Otopeni International Airport, under the terms of a concession with the Ministry of Transportation as public assets regulated by public law. The constitution of the tribunal dated December 20, 2005 included an Italian arbitrator, Mr. Piero Bernardini, chairman, a U.S. arbitrator, Mr. Arthur W. Rovine, and a French arbitrator, Mr. Yves Derains.

EDF Services Ltd. submitted its claim under the bilateral investment treaty signed between the Government of Great Britain and Northern Ireland and the Government of Romania for the Promotion and Reciprocal Protection of Investments to arbitration under the ICSID Convention in July 2005.

The ICSID award was dispatched to both sides on Thursday, October 08, 2009 in Washington D.c., at 17:48 hours. A three-member ICSID arbitration tribunal unanimously decided that Romania did not breach its obligations under the bilateral investment treaty and that the claims of EDF Services Ltd were to be dismissed with prejudice. Whilst noting that the traditional position in investment arbitration, in contrast to commercial arbitration, has been to follow the public international rule which does not apply the principle that the loser pays the costs of the arbitration and the costs of the prevailing party, in the instant case the arbitration tribunal held that parties should share equally the costs of the arbitration and, by majority, that EDF Services Ltd. should pay the sum of USD 6,000,000 on account of legal fees and other costs borne by Romania.

The successful outcome of the arbitration in Washington D.C. comes after four years of extensive work undertaken by lawyers, legal experts, accounting experts etc. The defense strategy was revealed by a team made up of more than 20 Romanian and American lawyers who used fourteen witnesses from among the Romanian authorities, four Romanian legal experts, as well as other experts specialising in accounting, fiscal expertise and translators.

The case file involved approximately 60,000 pages and covered a 12-year history of the Otopeni International Airport, addressing numerous corporate and contract law, public procurement issues, standard of fair and equitable treatment and investment protection, as well as bribery accusations against Romanian authorities.

“It is the second victory obtained by our team before the international arbitration court in Washington D.C. A complex trial that raised numerous Romanian and international public legal issues, and which, after four years and more than 12,000 hours spent by our lawyers on the case, ended with an award favorable to Romania”
, said Levana Zigmund, Partner in Ţuca Zbârcea & Asociaţii and coordinator of the Romanian team of lawyers representing Romania.

Romania was represented by a team of lawyers from Ţuca Zbârcea & Asociaţii in Bucharest and White & Case in Washington D.c., respectively the same lawyers who defended Romania in a similar case won against Noble Ventures Inc., including inter alia: from Ţuca Zbârcea & Asociaţii - Florentin Ţuca, Managing Partner, Levana Zigmund, Partner, Cristina Metea, Partner, Cornel Popa, Partner and Anca Puşcaşu, Managing Associate and from White & Case (US) - Abby Cohen Smutny, Partner and Darryl Lew, Partner.

***
Ţuca Zbârcea & Asociaţii now boasts 82 lawyers, including 15 partners and 42 support staff.

The Dispute Resolution Practice Group is one of the largest departments within the firm, comprising over 27 lawyers dedicating 100% of their time to handling all aspects of litigation and arbitration procedures. Our lawyers have an in-depth working knowledge of various arbitration procedural rules, such as ICC, UNCITRAL and ICSID and have dealt with complex substantive law issues in specific litigation circumstances. They have represented clients at all levels of the local judicial system, from the lower courts to the High Court of Justice, as well as in special proceedings in the Constitutional Court. The group also acts successfully in public international law arbitration, having assisted both investors and state bodies in disputes flowing from breaches of bilateral investment protection treaties.

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Lawyers from Ţuca Zbârcea & Asociaţii and White & Case (US) obtain favorable result for Romania in third ICSID arbitration case [...]
Lawyers from Tuca Zbarcea & Asociatii and White & Case (US) obtain favorable result for Romania in third ICSID arbitration case


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