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Tuca Zbarcea & Asociatii, named a "Highly Commended" firm at The Lawyer European Awards Last night, top European independent law firms, global law firms and in-house legal teams received praise for their achievements in the legal sector which impressed the judging panel of The Lawyer European Awards 2020 edition. Now in its eleventh year, the awards celebrate excellence in the legal sector, with the winners of the 27 categories across a wide range of jurisdictions and practice areas being revealed in a virtual ceremony. Tuca Zbarcea & Asociatii was named a "Highly Commended" firm (runner-up) in the "Eastern Europe and The Balkans" category, after having made it to the shortlist alongside five other independent and international law firms. Last night, top European independent law firms, global law firms and in-house legal teams received praise for their achievements in the legal sector which impressed the judging panel of The Lawyer European Awards 2020 edition. Now in its eleventh year, the awards celebrate excellence in the legal sector, with the winners of the 27 categories across a wide range of jurisdictions and practice areas being revealed in a virtual ceremony. Tuca Zbarcea & Asociatii was named a "Highly Commended" firm (runner-up) in the "Eastern Europe and The Balkans" category, after having made it to the shortlist alongside five other independent and international law firms. According to The Lawyer, "the 2020 winners are a force to be reckoned with, having been highly commended by our elite judging panel for implementing bold initiatives ranging from internal innovation to daring international strategies". "This is a real accomplishment, and we are extremely honoured to have made it to the shortlist and also hugely proud of the "Highly Commended" distinction received in the Eastern Europe and the Balkans awards category! The very fact that the judging panel named us runner-up in such a hotly-contested competition is a remarkable recognition of our team's hard work and dedication over the past year", said Florentin Tuca, Managing Partner of Tuca Zbarcea & Asociatii. The Lawyer European Awards was the first initiative of its kind to reward and celebrate excellence across the European legal market. The awards scheme attracts entries from over 120 independent law firms headquartered in Europe and global firms across the Continent. Each year The Lawyer European Awards showcase the impressive achievements of Europe's finest within the legal industry. The competition was particularly fierce this year, with a record-breaking amount of submissions from in-house counsel and law firms making the shortlist. The full list of winners and finalists is available here: https://www.thelawyer.com/event/european-awards/2020-winners
December 2, 2020
Țuca Zbârcea & Asociații, named a "Highly Commended" firm at The Lawyer European Awards

Last night, top European independent law firms, global law firms and in-house legal teams received praise for their achievements in the legal sector which impressed the judging panel of The Lawyer European Awards 2020 edition. Now in its eleventh year, the awards celebrate excellence in the legal sector, with the winners of the 27 categories across a wide range of jurisdictions and practice areas being revealed in a virtual ceremony. 

Țuca Zbârcea & Asociații was named a "Highly Commended" firm (runner-up) in the "Eastern Europe and The Balkans" category, after having made it to the shortlist alongside five other independent and international law firms. [+]

Last night, top European independent law firms, global law firms and in-house legal teams received praise for their achievements in the legal sector which impressed the judging panel of The Lawyer European Awards 2020 edition. Now in its eleventh year, the awards celebrate excellence in the legal sector, with the winners of the 27 categories across a wide range of jurisdictions and practice areas being revealed in a virtual ceremony. 

Țuca Zbârcea & Asociații was named a "Highly Commended" firm (runner-up) in the "Eastern Europe and The Balkans" category, after having made it to the shortlist alongside five other independent and international law firms.

According to The Lawyer, "the 2020 winners are a force to be reckoned with, having been highly commended by our elite judging panel for implementing bold initiatives ranging from internal innovation to daring international strategies".

"This is a real accomplishment, and we are extremely honoured to have made it to the shortlist and also hugely proud of the "Highly Commended" distinction received in the Eastern Europe and the Balkans awards category! The very fact that the judging panel named us runner-up in such a hotly-contested competition is a remarkable recognition of our team's hard work and dedication over the past year", said Florentin Țuca, Managing Partner of Țuca Zbârcea & Asociații.

The Lawyer European Awards was the first initiative of its kind to reward and celebrate excellence across the European legal market. The awards scheme attracts entries from over 120 independent law firms headquartered in Europe and global firms across the Continent. Each year The Lawyer European Awards showcase the impressive achievements of Europe's finest within the legal industry. The competition was particularly fierce this year, with a record-breaking amount of submissions from in-house counsel and law firms making the shortlist.

The full list of winners and finalists is available here: https://www.thelawyer.com/event/european-awards/2020-winners 

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Tuca Zbarcea & Asociatii wins the "Law Firm of the Year" Award at the 2020 Financial Intelligence Awards Gala Last night, more than 20 prizes were awarded at the annual Financial Intelligence Hall of Fame Awards Gala to individuals and companies in recognition of their accomplishments in what has been a very unusual year. Given the current epidemiological context, the winners were revealed virtually. This year, the Law Firm of the Year Award went to Tuca Zbarcea & Asociatii for having successfully adapted its business strategy to respond to the challenges raised by the pandemic. Last night, more than 20 prizes were awarded at the annual Financial Intelligence Hall of Fame Awards Gala to individuals and companies in recognition of their accomplishments in what has been a very unusual year. Given the current epidemiological context, the winners were revealed virtually. This year, the Law Firm of the Year Award went to Tuca Zbarcea & Asociatii for having successfully adapted its business strategy to respond to the challenges raised by the pandemic. "As 2020 draws to a close, we recognise it has been an incredibly challenging year for us all. A year which forced us to adapt, to be more flexible and agile, to be supportive and, perhaps, behave more responsibly than ever before. Thank you, Financial Intelligence, for this award! This goes to the entire Tuca Zbarcea & Asociatii team! And at the next Financial Intelligence Gala, hopefully we will stand next to each other, look each other in the eye and shake hands", said Gabriel Zbarcea, Managing Partner. The Financial Intelligence award rounds up a successful year for Tuca Zbarcea & Asociatii, as the firm is also a recipient of a Chambers Europe award "Law Firm of the Year: Romania" (Chambers Europe Awards 2020), of a Business Review award "Law Firm of the Year" (BR Awards Gala 2020), as well as of other practice area awards, such as "The Dispute Resolution Law Firm of the Year: Romania" (Benchmark Litigation Europe Awards, Euromoney Legal Media Group). For more information about the Financial Intelligence Hall of Fame Awards Gala, please go to: https://financialintelligence.ro/financial-intelligence-hall-of-fame-awards-gala-2020/
November 26, 2020
Țuca Zbârcea & Asociații wins the "Law Firm of the Year" Award at the 2020 Financial Intelligence Awards Gala

Last night, more than 20 prizes were awarded at the annual Financial Intelligence Hall of Fame Awards Gala to individuals and companies in recognition of their accomplishments in what has been a very unusual year. Given the current epidemiological context, the winners were revealed virtually. This year, the Law Firm of the Year Award went to Țuca Zbârcea & Asociații for having successfully adapted its business strategy to respond to the challenges raised by the pandemic. [+]

Last night, more than 20 prizes were awarded at the annual Financial Intelligence Hall of Fame Awards Gala to individuals and companies in recognition of their accomplishments in what has been a very unusual year. Given the current epidemiological context, the winners were revealed virtually. 

This year, the Law Firm of the Year Award went to Țuca Zbârcea & Asociații for having successfully adapted its business strategy to respond to the challenges raised by the pandemic.

"As 2020 draws to a close, we recognise it has been an incredibly challenging year for us all. A year which forced us to adapt, to be more flexible and agile, to be supportive and, perhaps, behave more responsibly than ever before. Thank you, Financial Intelligence, for this award! This goes to the entire Țuca Zbârcea & Asociații team! And at the next Financial Intelligence Gala, hopefully we will stand next to each other, look each other in the eye and shake hands", said Gabriel Zbârcea, Managing Partner.

The Financial Intelligence award rounds up a successful year for Țuca Zbârcea & Asociații, as the firm is also a recipient of a Chambers Europe award "Law Firm of the Year: Romania" (Chambers Europe Awards 2020), of a Business Review award "Law Firm of the Year" (BR Awards Gala 2020), as well as of other practice area awards, such as "The Dispute Resolution Law Firm of the Year: Romania" (Benchmark Litigation Europe Awards, Euromoney Legal Media Group).

For more information about the Financial Intelligence Hall of Fame Awards Gala, please go to: https://financialintelligence.ro/financial-intelligence-hall-of-fame-awards-gala-2020/

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Tax+Legal Videoconference: Sailing Tailwind, Through the New Normal Tuca Zbarcea & Asociatii and Tuca Zbarcea & Asociatii Tax are pleased to present the second edition of their flagship event TAX + LEGAL VIDEOCONFERENCE: SAILING TAILWIND THROUGH THE NEW NORMAL. This will be a virtual event hosted on the Wolters Kluwer - Sintact.ro platform, taking place on 18 November, from 9:30 a.m. to 1:00 p.m. (EET). Tuca Zbarcea & Asociatii and Tuca Zbarcea & Asociatii Tax are pleased to present the second edition of their flagship event TAX + LEGAL VIDEOCONFERENCE: SAILING TAILWIND THROUGH THE NEW NORMAL. This will be a virtual event hosted on the Wolters Kluwer - Sintact.ro platform, taking place on 18 November, from 9:30 a.m. to 1:00 p.m. (EET). In these challenging times, businesses are searching for opportunities, and in particular for solutions to keep operations running or at least to stay afloat. Clearly, 2021 will be a complex year, a genuine turning point for many industries or companies. On the one hand, due to the huge pressure of an excessive budget deficit, we may expect a repositioning of public and tax policies, and intensified and targeted controls and inspections by the fiscal authority, as well as the competition and the employment, labour safety & security authorities. On the other hand, the domestic business environment will face higher internal pressures, generated in many cases by the current uncertainty in relation to consumption and investments, and the potential cost accumulation against the backdrop of the relief measures accessed in 2020 (such as payment deferral for budgetary obligations, bank loans, rents and utilities, etc.). At present, the unanimous opinion is that there is still money in the market, the banking system is stable (in the spring of 2020, the average rate of non-performing loans was at its lowest since 2009), the stock exchange is operating and offers some opportunities, while grants from the Romanian Government and substantial EU funds are becoming available. With a growing need for capitalization so as to become bankable and an increasing pressure on the budgets, including investment budgets, local entrepreneurs should promptly find solutions to secure the continuity of their business plan in the years to come. In general, the business community will have to take quick decisions on finance and cashflow, cost control and business model efficiency. In this context, it becomes necessary for businesses to accurately identify and assess their legal or tax exposure areas, and to avail themselves of the financing opportunities and fiscal facilities which become available. TAX + LEGAL VIDEOCONFERENCE: SAILING TAILWIND THROUGH THE NEW NORMAL, 2nd edition is part of a set of multi-disciplinary debates on some of the hottest topics with an impact on the business environment. The conference topics will be covered by speakers with extensive expertise in their areas of practice, both from Tuca Zbarcea & Asociatii and from Tuca Zbarcea & Asociatii Tax, as well as by prominent guests from the Romanian and international business community, including representatives of Andersen. As of March 2019, Tuca Zbarcea & Asociatii and Tuca Zbarcea & Asociatii Tax cooperate with Andersen in Romania. Event speakers: Gabriel Zbarcea, Managing Partner at Tuca Zbarcea & Asociatii Violeta Luca, CEO Microsoft Iulian Stanciu, CEO eMAG Maricla Pennesi, European Tax Coordinator, Andersen Karoly Radnai, Managing Partner, Andersen Hungary Alexandru Cristea, Tax Partner at Tuca Zbarcea & Asociatii Tax Serban Paslaru, Partner at Tuca Zbarcea & Asociatii Ciprian Timofte, Partner at Tuca Zbarcea & Asociatii Cristian Velcu, Director at Tuca Zbarcea & Asociatii Tax Event moderator: Dan Cristea, Partner at Tuca Zbarcea & Asociatii The event is designed exclusively for the business community, i.e. entrepreneurs, CEOs and other C-level executives, Chief Finance and Accounting Officers, as well as Chief Legal and HR Officers. Participation in the videoconference is free of charge, subject to prior registration and confirmation from the organisers. The conference is organised with the support of Wolters Kluwer Romania, as well as the Belgian-Luxembourg-Romanian-Moldovan Chamber of Commerce (BEROCC), the British-Romanian Chamber of Commerce (BRCC), Hotnews, Juridice.ro, LegalMarketing, Newsweek, Universul Juridic. For further details about the agenda and the registration procedure, please go to: https://info.wolterskluwer.ro/tza-tax-legal-ed-2/
November 10, 2020
Tax+Legal Videoconference: Sailing Tailwind, Through the New Normal

Țuca Zbârcea & Asociații and Țuca Zbârcea & Asociații Tax are pleased to present the second edition of their flagship event TAX + LEGAL VIDEOCONFERENCE: SAILING TAILWIND THROUGH THE NEW NORMAL. This will be a virtual event hosted on the Wolters Kluwer - Sintact.ro platform, taking place on 18 November, from 9:30 a.m. to 1:00 p.m. (EET).

[+]

Țuca Zbârcea & Asociații and Țuca Zbârcea & Asociații Tax are pleased to present the second edition of their flagship event TAX + LEGAL VIDEOCONFERENCE: SAILING TAILWIND THROUGH THE NEW NORMAL. This will be a virtual event hosted on the Wolters Kluwer - Sintact.ro platform, taking place on 18 November, from 9:30 a.m. to 1:00 p.m. (EET).

In these challenging times, businesses are searching for opportunities, and in particular for solutions to keep operations running or at least to stay afloat. Clearly, 2021 will be a complex year, a genuine turning point for many industries or companies. On the one hand, due to the huge pressure of an excessive budget deficit, we may expect a repositioning of public and tax policies, and intensified and targeted controls and inspections by the fiscal authority, as well as the competition and the employment, labour safety & security authorities. On the other hand, the domestic business environment will face higher internal pressures, generated in many cases by the current uncertainty in relation to consumption and investments, and the potential cost accumulation against the backdrop of the relief measures accessed in 2020 (such as payment deferral for budgetary obligations, bank loans, rents and utilities, etc.).

At present, the unanimous opinion is that there is still money in the market, the banking system is stable (in the spring of 2020, the average rate of non-performing loans was at its lowest since 2009), the stock exchange is operating and offers some opportunities, while grants from the Romanian Government and substantial EU funds are becoming available.

With a growing need for capitalization so as to become bankable and an increasing pressure on the budgets, including investment budgets, local entrepreneurs should promptly find solutions to secure the continuity of their business plan in the years to come. In general, the business community will have to take quick decisions on finance and cashflow, cost control and business model efficiency.

In this context, it becomes necessary for businesses to accurately identify and assess their legal or tax exposure areas, and to avail themselves of the financing opportunities and fiscal facilities which become available.

TAX + LEGAL VIDEOCONFERENCE: SAILING TAILWIND THROUGH THE NEW NORMAL, 2nd edition is part of a set of multi-disciplinary debates on some of the hottest topics with an impact on the business environment.

The conference topics will be covered by speakers with extensive expertise in their areas of practice, both from Țuca Zbârcea & Asociații and from Țuca Zbârcea & Asociații Tax, as well as by prominent guests from the Romanian and international business community, including representatives of Andersen. As of March 2019, Țuca Zbârcea & Asociații and Țuca Zbârcea & Asociații Tax cooperate with Andersen in Romania. 

Event speakers:

  • Gabriel Zbârcea, Managing Partner at Țuca Zbârcea & Asociații
  • Violeta Luca, CEO Microsoft
  • Iulian Stanciu, CEO eMAG
  • Maricla Pennesi, European Tax Coordinator, Andersen
  • Karoly Radnai, Managing Partner, Andersen Hungary
  • Alexandru Cristea, Tax Partner at Țuca Zbârcea & Asociații Tax
  • Șerban Pâslaru, Partner at Țuca Zbârcea & Asociații
  • Ciprian Timofte, Partner at Țuca Zbârcea & Asociații
  • Cristian Velcu, Director at Țuca Zbârcea & Asociații Tax

Event moderator:

  • Dan Cristea, Partner at Țuca Zbârcea & Asociații

The event is designed exclusively for the business community, i.e. entrepreneurs, CEOs and other C-level executives, Chief Finance and Accounting Officers, as well as Chief Legal and HR Officers. Participation in the videoconference is free of charge, subject to prior registration and confirmation from the organisers.

The conference is organised with the support of Wolters Kluwer Romania, as well as the Belgian-Luxembourg-Romanian-Moldovan Chamber of Commerce (BEROCC), the British-Romanian Chamber of Commerce (BRCC), Hotnews, Juridice.ro, LegalMarketing, Newsweek, Universul Juridic.

For further details about the agenda and the registration procedure, please go to: https://info.wolterskluwer.ro/tza-tax-legal-ed-2/

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Tuca Zbarcea & Asociatii acted for the newly created start-up - Comarket, a B2B marketplace for the Romanian hospitality industry Tuca Zbarcea & Asociatii acted for the newly created start-up - Comarket, a B2B marketplace for the Romanian hospitality industry. Comarket is a digital tool connecting professionals and suppliers in the HoReCa community. By increasing the efficiency and further development of the procurement market, the platform is helping players from the hospitality industry (restaurants, cafes and hotels) in the day-to-day management of their business operations. Lawyers from Tuca Zbarcea & Asociatii helped launch Comarket, a B2B marketplace for the Romanian hospitality industry that had already benefitted from a pre-seed investment of EUR 100,000 followed by an EUR 250,000 strategic investment of Infinite IT Solutions. Comarket is a digital tool connecting professionals and suppliers in the HoReCa community. By increasing the efficiency and further development of the procurement market, the platform is helping players from the hospitality industry (restaurants, cafes and hotels) in the day-to-day management of their business operations. Tuca Zbarcea & Asociatii advised three Romanian entrepreneurs who became founders of Comarket - Florin Maxim, Eugen Zbircea and Daniel Nanboe - on their path from idea inception to a functional product, and as such, the Romanian law firm provided legal assistance services throughout all the development stages of Comarket, from contract drafting and negotiation with the external partners to preparing the platform for launch. In so doing, an interdisciplinary approach was required, with Partner Razvan Gheorghiu-Testa and Managing Associate Bogdan Halcu leading the legal team that covered, inter alia, matters of corporate law, data privacy and intellectual property. Tuca Zbarcea & Asociatii remains the legal partner of Comarket for the next development stages. "From the outset, we were quite enthusiastic about the idea of a B2B marketplace for the hospitality industry. Clearly, HoReCa players need to leave behind the somehow archaic model of procurement and supply that they currently use, in favor of a fully digital one that would allow for a more efficient management of business flows and, in general, of the business itself. The sector is in dire need of digitization and this is why an initiative such as Comarket, backed up by similar actions supported by our law firm, such as the first business accelerator program for start-ups called the "HoReCa Business Accelerator", is a valuable tool for an already battered industry", said Razvan Gheorghiu-Testa, Partner at Tuca Zbarcea & Asociatii. Comarket platform is a quick, efficient and modern alternative to the daily procurement operations carried out by HoReCa players and more specifically to traditional procurement methods (i.e., site visits of a dedicated field agent, or placing orders by SMS, WhatsApp or phone etc.). More so, the platform successfully automates repetitive daily processes, providing inputs on the history of orders, centralization and other logistic details. All wrapped up in a 100% paperless product.
October 13, 2020
Țuca Zbârcea & Asociații acted for the newly created start-up - Comarket, a B2B marketplace for the Romanian hospitality industry

Țuca Zbârcea & Asociații acted for the newly created start-up - Comarket, a B2B marketplace for the Romanian hospitality industry. Comarket is a digital tool connecting professionals and suppliers in the HoReCa community. By increasing the efficiency and further development of the procurement market, the platform is helping players from the hospitality industry (restaurants, cafes and hotels) in the day-to-day management of their business operations. [+]

Lawyers from Țuca Zbârcea & Asociații helped launch Comarket, a B2B marketplace for the Romanian hospitality industry that had already benefitted from a pre-seed investment of EUR 100,000 followed by an EUR 250,000 strategic investment of Infinite IT Solutions. Comarket is a digital tool connecting professionals and suppliers in the HoReCa community. By increasing the efficiency and further development of the procurement market, the platform is helping players from the hospitality industry (restaurants, cafes and hotels) in the day-to-day management of their business operations.

Țuca Zbârcea & Asociații advised three Romanian entrepreneurs who became founders of Comarket - Florin Maxim, Eugen Zbîrcea and Daniel Nanboe - on their path from idea inception to a functional product, and as such, the Romanian law firm provided legal assistance services throughout all the development stages of Comarket, from contract drafting and negotiation with the external partners to preparing the platform for launch. In so doing, an interdisciplinary approach was required, with Partner Răzvan Gheorghiu-Testa and Managing Associate Bogdan Halcu leading the legal team that covered, inter alia, matters of corporate law, data privacy and intellectual property. Țuca Zbârcea & Asociații remains the legal partner of Comarket for the next development stages. 

"From the outset, we were quite enthusiastic about the idea of a B2B marketplace for the hospitality industry. Clearly, HoReCa players need to leave behind the somehow archaic model of procurement and supply that they currently use, in favor of a fully digital one that would allow for a more efficient management of business flows and, in general, of the business itself. The sector is in dire need of digitization and this is why an initiative such as Comarket, backed up by similar actions supported by our law firm, such as the first business accelerator program for start-ups called the "HoReCa Business Accelerator", is a valuable tool for an already battered industry", said Răzvan Gheorghiu-Testa, Partner at Țuca Zbârcea & Asociații.

Comarket platform is a quick, efficient and modern alternative to the daily procurement operations carried out by HoReCa players and more specifically to traditional procurement methods (i.e., site visits of a dedicated field agent, or placing orders by SMS, WhatsApp or phone etc.). More so, the platform successfully automates repetitive daily processes, providing inputs on the history of orders, centralization and other logistic details. All wrapped up in a 100% paperless product.

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Tuca Zbarcea & Asociatii acted for Clever Business Transilvania on acquiring Prima TV Clever Business Transilvania, an important independent media group in the Romanian market, owner of a number of TV stations (Look TV, Look Plus, Look Medica, Agro TV, Profit.ro), has recently announced it had completed the takeover of Prima TV, one of the most important TV stations in Romania. Clever Business Transilvania which is owned by a Romanian entrepreneur, Mr. Adrian Tomsa, turned out to Tuca Zbarcea & Asociatii for legal assistance services. The Romanian law firm fielded a team of lawyers led by Corporate/M&A and TMT partner - Catalin Baiculescu who advised the client throughout the entire acquisition process. Clever Business Transilvania, an important independent media group in the Romanian market, owner of a number of TV stations (Look TV, Look Plus, Look Medica, Agro TV, Profit.ro), has recently announced it had completed the takeover of Prima TV, one of the most important TV stations in Romania. Clever Business Transilvania which is owned by a Romanian entrepreneur, Mr. Adrian Tomsa, turned out to Tuca Zbarcea & Asociatii for legal assistance services. The Romanian law firm fielded a team of lawyers led by Corporate/M&A and TMT partner - Catalin Baiculescu who advised the client throughout the entire acquisition process. The deal was particularly complex given the fact that the seller of Prima TV was undergoing judicial reorganization. Our firm assisted during the negotiation of the sale and purchase agreement, as well as in front of the National Audiovisual Council and Romania's Competition Council for obtaining clearance on the deal. As such, Managing Associate Andreea Oprisan from the firm's Competition and Antitrust practice group was part of the multidisciplinary team acting in respect thereof. Tuca Zbarcea & Asociatii regularly advises companies active in the advertising, media/broadcasting and entertainment industry, as well as telecommunications and technology companies, suppliers of IT services etc, on legal matters pertaining to their operations on the Romanian market (i.e. transactional and litigation, as well as regulatory/compliance issues affecting these companies, including interconnection agreements, licensing, procurement, competition and regulatory investigations). Corporate/M&A and TMT star partner Catalin Baiculescu has extensive experience in the entertainment and media sector, providing services to radio and television broadcasters and production companies on regulatory issues and commercial contracts relating to television shows, advertising, and internet exploitation of audio-visual content. He has also advised on telecommunications service agreements, interconnection agreements, software development agreements and licenses, outsourcing agreements, as well as data privacy related issues. Catalin is ranked in the top echelon of the profession for his expertise in these areas by reputed international legal directories such as Chambers Europe, Legal 500, Media Law International (MLI) etc. According to the Chambers Europe's editors: "The "responsive and problem-solving" Catalin Baiculescu is highly praised by clients for his "outstanding negotiation skills." One interviewee also appreciates that he "can translate the specific legal jargon, so that his advice is always clear, objective and instructive." He actively handles transactions in the media and entertainment industry and advises on sensitive regulatory mandates" (Chambers Europe 2020 edition). For more information on the deal, please refer to: https://clever-media.ro/clever-business-transilvania-anunta-finalizarea-cu-succes-a-tranzactiei-prin-care-a-preluat-postul-de-televiziune-prima-tv/
September 21, 2020
Țuca Zbârcea & Asociații acted for Clever Business Transilvania on acquiring Prima TV

Clever Business Transilvania, an important independent media group in the Romanian market, owner of a number of TV stations (Look TV, Look Plus, Look Medica, Agro TV, Profit.ro), has recently announced it had completed the takeover of Prima TV, one of the most important TV stations in Romania.

Clever Business Transilvania which is owned by a Romanian entrepreneur, Mr. Adrian Tomșa, turned out to Țuca Zbârcea & Asociații for legal assistance services. The Romanian law firm fielded a team of lawyers led by Corporate/M&A and TMT partner - Cătălin Băiculescu who advised the client throughout the entire acquisition process. [+]

Clever Business Transilvania, an important independent media group in the Romanian market, owner of a number of TV stations (Look TV, Look Plus, Look Medica, Agro TV, Profit.ro), has recently announced it had completed the takeover of Prima TV, one of the most important TV stations in Romania.

Clever Business Transilvania which is owned by a Romanian entrepreneur, Mr. Adrian Tomșa, turned out to Țuca Zbârcea & Asociații for legal assistance services. The Romanian law firm fielded a team of lawyers led by Corporate/M&A and TMT partner - Cătălin Băiculescu who advised the client throughout the entire acquisition process. The deal was particularly complex given the fact that the seller of Prima TV was undergoing judicial reorganization. Our firm assisted during the negotiation of the sale and purchase agreement, as well as in front of the National Audiovisual Council and Romania's Competition Council for obtaining clearance on the deal. As such, Managing Associate Andreea Oprișan from the firm's Competition and Antitrust practice group was part of the multidisciplinary team acting in respect thereof.

Țuca Zbârcea & Asociații regularly advises companies active in the advertising, media/broadcasting and entertainment industry, as well as telecommunications and technology companies, suppliers of IT services etc, on legal matters pertaining to their operations on the Romanian market (i.e. transactional and litigation, as well as regulatory/compliance issues affecting these companies, including interconnection agreements, licensing, procurement, competition and regulatory investigations).

Corporate/M&A and TMT star partner Cătălin Băiculescu has extensive experience in the entertainment and media sector, providing services to radio and television broadcasters and production companies on regulatory issues and commercial contracts relating to television shows, advertising, and internet exploitation of audio-visual content. He has also advised on telecommunications service agreements, interconnection agreements, software development agreements and licenses, outsourcing agreements, as well as data privacy related issues. Cătălin is ranked in the top echelon of the profession for his expertise in these areas by reputed international legal directories such as Chambers Europe, Legal 500, Media Law International (MLI) etc. According to the Chambers Europe's editors: "The "responsive and problem-solving" Cătălin Băiculescu is highly praised by clients for his "outstanding negotiation skills." One interviewee also appreciates that he "can translate the specific legal jargon, so that his advice is always clear, objective and instructive." He actively handles transactions in the media and entertainment industry and advises on sensitive regulatory mandates" (Chambers Europe 2020 edition).

For more information on the deal, please refer to: https://clever-media.ro/clever-business-transilvania-anunta-finalizarea-cu-succes-a-tranzactiei-prin-care-a-preluat-postul-de-televiziune-prima-tv/  

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Tuca Zbarcea & Asociatii acted on a EUR 20 million deal whereas EBRD had acquired 25% in Vestmoldtransgaz, the Moldovan subsidiary of Transgaz The European Bank for Reconstruction and Development (EBRD) has recently acquired a 25% stake in Vestmoldtransgaz, the gas transmission company that is operating the newly built Ungheni-Chisinau gas pipeline. Tuca Zbarcea & Asociatii advised Eurotransgaz, a subsidiary of SNTGN Transgaz and owner of Vestmoldtransgaz, with a team of lawyers led by Partner Sorin Vladescu and Managing Associate Nisa Jecu. The Romanian law firm worked closely with the team of lawyers from Turcan Cazac (Republic of Moldova) on the Moldovan law aspects impacting on the transaction. The European Bank for Reconstruction and Development (EBRD) has recently acquired a 25% stake in Vestmoldtransgaz, the gas transmission company that is operating the newly built Ungheni-Chisinau gas pipeline. The EBRD has invested EUR 20 million as part of a capital increase in Vestmoldtransgaz. Tuca Zbarcea & Asociatii advised Eurotransgaz, a subsidiary of SNTGN Transgaz and owner of Vestmoldtransgaz, with a team of lawyers led by Partner Sorin Vladescu and Managing Associate Nisa Jecu. The Romanian law firm worked closely with the team of lawyers from Turcan Cazac (Republic of Moldova) on the Moldovan law aspects impacting on the transaction. According to the press release issued by the EBRD, Vestmoldtransgaz owns and manages a gas pipeline network in western Moldova and provides natural gas transport services. In 2018 it was taken over by Eurotransgaz, a subsidiary of SNTGN Transgaz, the company operating the Romanian natural gas transmission system. The 120 km Ungheni-Chisinau gas pipeline will soon become operational and complete the connection of the gas transmission systems of Romania and Moldova by linking the capital Chisinau to the Iasi-Ungheni interconnector between the eastern Romanian city of Iasi and Ungheni, a Moldovan town on the Romanian border. The Ungheni-Chisinau gas pipeline will enable Moldova - a country more than 90 per cent dependent on energy imports - to diversify its energy sources. For further information on the deal, please refer to: https://www.ebrd.com/news/2020/ebrd-invests-in-unghenichisinau-gas-pipeline.html
September 10, 2020
Țuca Zbârcea & Asociații acted on a EUR 20 million deal whereas EBRD had acquired 25% in Vestmoldtransgaz, the Moldovan subsidiary of Transgaz

The European Bank for Reconstruction and Development (EBRD) has recently acquired a 25% stake in Vestmoldtransgaz, the gas transmission company that is operating the newly built Ungheni-Chisinau gas pipeline.

Țuca Zbârcea & Asociații advised Eurotransgaz, a subsidiary of SNTGN Transgaz and owner of Vestmoldtransgaz, with a team of lawyers led by Partner Sorin Vlădescu and Managing Associate Nisa Jecu. The Romanian law firm worked closely with the team of lawyers from Țurcan Cazac (Republic of Moldova) on the Moldovan law aspects impacting on the transaction. [+]

The European Bank for Reconstruction and Development (EBRD) has recently acquired a 25% stake in Vestmoldtransgaz, the gas transmission company that is operating the newly built Ungheni-Chisinau gas pipeline.

The EBRD has invested EUR 20 million as part of a capital increase in Vestmoldtransgaz.

Țuca Zbârcea & Asociații advised Eurotransgaz, a subsidiary of SNTGN Transgaz and owner of Vestmoldtransgaz, with a team of lawyers led by Partner Sorin Vlădescu and Managing Associate Nisa Jecu. The Romanian law firm worked closely with the team of lawyers from Țurcan Cazac (Republic of Moldova) on the Moldovan law aspects impacting on the transaction.

According to the press release issued by the EBRD, Vestmoldtransgaz owns and manages a gas pipeline network in western Moldova and provides natural gas transport services. In 2018 it was taken over by Eurotransgaz, a subsidiary of SNTGN Transgaz, the company operating the Romanian natural gas transmission system.

The 120 km Ungheni-Chisinau gas pipeline will soon become operational and complete the connection of the gas transmission systems of Romania and Moldova by linking the capital Chisinau to the Iasi-Ungheni interconnector between the eastern Romanian city of Iasi and Ungheni, a Moldovan town on the Romanian border.

The Ungheni-Chisinau gas pipeline will enable Moldova - a country more than 90 per cent dependent on energy imports - to diversify its energy sources.

For further information on the deal, please refer to: https://www.ebrd.com/news/2020/ebrd-invests-in-unghenichisinau-gas-pipeline.html

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Tuca Zbarcea & Asociatii obtains a final ruling from the High Court of Cassation and Justice regarding the former HQ of the Bucharest Municipality Tuca Zbarcea & Asociatii has successfully persuaded the High Court of Cassation and Justice to reject Bucharest Municipality's legal action filed against the owner of the former headquarters of the City Hall, whereby the Bucharest Municipality claimed ownership right over the building worth approximately EUR 30 million. The dispute was filed in 2014 by the Bucharest Municipality against the owner of the building located on Splaiul Independentei, which used to be the headquarters of the City Hall until January 2017. Tuca Zbarcea & Asociatii has successfully persuaded the High Court of Cassation and Justice to reject Bucharest Municipality's legal action filed against the owner of the former headquarters of the City Hall, whereby the Bucharest Municipality claimed ownership right over the building worth approximately EUR 30 million. The dispute was filed in 2014 by the Bucharest Municipality against the owner of the building located on Splaiul Independentei, which used to be the headquarters of the City Hall until January 2017. By this legal action, the Bucharest Municipality asked the court to render a judgment in lieu of sale-purchase agreement, claiming to be the beneficiary of a sale promise which allegedly entitled it to ask the owner of the building, evaluated at approximately EUR 30 million, to transfer the ownership right. The Bucharest Tribunal, as court of first instance, rejected in full the action of the Bucharest Municipality. Thereafter, the Court of Appeal maintained this ruling and upheld that there was no valid promise to sell because the legal requirement of stipulating a determined or determinable price had not been observed. However, the Court of Appeal also held that the building owner had undertaken an obligation to sell at the request of the Bucharest Municipality. A final appeal was lodged against this judgment both by the Bucharest Municipality (against the rejection of the action) and by the building owner, who argued that he did not undertake such obligation. Under a final civil decision rendered on 14 July 2020, the High Court of Cassation and Justice rejected the final appeal of the Bucharest Municipality, it admitted the final appeal of the building owner and it ordered the replacement of the refuted considerations. "This dispute had a material stake, given the substantial value of the building, multiple civil ramifications, presented by dozens of arguments that the parties debated over 6 years, and required complex evidence that resulted in two specialized expert reports being submitted to the case file. The supreme court's ruling acknowledges that the owner had the right point of view, and it is a fine recognition of the many arguments that we brought with respect to the rules applicable to sale promises, the criteria for the interpretation of agreements, the status of private arrangements, and key concepts of civil procedure", said Ioana Gelepu, a Partner in the Litigation and Arbitration Department of Tuca Zbarcea & Asociatii, who coordinated the legal team representing the building owner. Irina Raileanu, Managing Associate, was also a member of the team. Tuca Zbarcea & Asociatii has a leading practice in Dispute Resolution, the firm's pre-eminence in this area being already acknowledged by renowned international publications, such as Chambers & Partners, Legal 500 and the Global Arbitration Review. More so, the firm has recently received the "Law Firm of the Year in Romania for Dispute Resolution" Award by Benchmark Litigation Europe (a publication of Euromoney Legal Media Group), one the most coveted and prestigious international accolades for law firms specialising in litigation and arbitration.
July 22, 2020
Țuca Zbârcea & Asociații obtains a final ruling from the High Court of Cassation and Justice regarding the former HQ of the Bucharest Municipality

Țuca Zbârcea & Asociații has successfully persuaded the High Court of Cassation and Justice to reject Bucharest Municipality's legal action filed against the owner of the former headquarters of the City Hall, whereby the Bucharest Municipality claimed ownership right over the building worth approximately EUR 30 million. The dispute was filed in 2014 by the Bucharest Municipality against the owner of the building located on Splaiul Independenței, which used to be the headquarters of the City Hall until January 2017. [+]

Țuca Zbârcea & Asociații has successfully persuaded the High Court of Cassation and Justice to reject Bucharest Municipality's legal action filed against the owner of the former headquarters of the City Hall, whereby the Bucharest Municipality claimed ownership right over the building worth approximately EUR 30 million.

The dispute was filed in 2014 by the Bucharest Municipality against the owner of the building located on Splaiul Independenței, which used to be the headquarters of the City Hall until January 2017. By this legal action, the Bucharest Municipality asked the court to render a judgment in lieu of sale-purchase agreement, claiming to be the beneficiary of a sale promise which allegedly entitled it to ask the owner of the building, evaluated at approximately EUR 30 million, to transfer the ownership right.

The Bucharest Tribunal, as court of first instance, rejected in full the action of the Bucharest Municipality. Thereafter, the Court of Appeal maintained this ruling and upheld that there was no valid promise to sell because the legal requirement of stipulating a determined or determinable price had not been observed. However, the Court of Appeal also held that the building owner had undertaken an obligation to sell at the request of the Bucharest Municipality. A final appeal was lodged against this judgment both by the Bucharest Municipality (against the rejection of the action) and by the building owner, who argued that he did not undertake such obligation.

Under a final civil decision rendered on 14 July 2020, the High Court of Cassation and Justice rejected the final appeal of the Bucharest Municipality, it admitted the final appeal of the building owner and it ordered the replacement of the refuted considerations.

"This dispute had a material stake, given the substantial value of the building, multiple civil ramifications, presented by dozens of arguments that the parties debated over 6 years, and required complex evidence that resulted in two specialized expert reports being submitted to the case file. The supreme court's ruling acknowledges that the owner had the right point of view, and it is a fine recognition of the many arguments that we brought with respect to the rules applicable to sale promises, the criteria for the interpretation of agreements, the status of private arrangements, and key concepts of civil procedure", said Ioana Gelepu, a Partner in the Litigation and Arbitration Department of Țuca Zbârcea & Asociații, who coordinated the legal team representing the building owner. Irina Răileanu, Managing Associate, was also a member of the team.

Țuca Zbârcea & Asociații has a leading practice in Dispute Resolution, the firm's pre-eminence in this area being already acknowledged by renowned international publications, such as Chambers & Partners, Legal 500 and the Global Arbitration Review.

More so, the firm has recently received the "Law Firm of the Year in Romania for Dispute Resolution" Award by Benchmark Litigation Europe (a publication of Euromoney Legal Media Group), one the most coveted and prestigious international accolades for law firms specialising in litigation and arbitration.

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Tuca Zbarcea & Asociatii obtains a final ruling from the High Court of Cassation and Justice on wind turbine taxation The High Court of Cassation and Justice maintained, by its decision of 17 June 2020, the judgment under which several wind power companies had been granted by the court of first instance the annulment of Minister of Public Finance's Order No. 1210/2014 and of the Central Fiscal Committee's Decision No. 5/2014. This is a major decision of the High Court of Cassation and Justice, with a significant impact on the relevant companies, considering that the local authorities charged such companies with material amounts as building tax for the wind turbine towers under the aforementioned administrative acts which have now been annulled under a final decision. Five of the most important companies active in the renewable energy sector, legally represented by Tuca Zbarcea & Asociatii, have submitted a motion for the annulment of Minister of Public Finance's Order No. 1210/2014 and of the Central Fiscal Committee's Decision No. 5/2014. Subsequently, other wind farm companies joined in these legal proceedings. The High Court of Cassation and Justice maintained, by its decision of 17 June 2020, the judgment under which several wind power companies had been granted by the court of first instance the annulment of Minister of Public Finance's Order No. 1210/2014 and of the Central Fiscal Committee's Decision No. 5/2014. Five of the most important companies active in the renewable energy sector, legally represented by Tuca Zbarcea & Asociatii, have submitted a motion for the annulment of Minister of Public Finance's Order No. 1210/2014 and of the Central Fiscal Committee's Decision No. 5/2014. Subsequently, other wind farm companies joined in these legal proceedings. The Central Fiscal Committee's Decision provided that "the tower supporting wind turbines falls within the category of buildings", which practically supplemented the law (i.e., the provisions of Article 249(5) of the former Tax Code) and thus paved the way for the issuance by the local authorities of notices of assessment for taxes on buildings. Further to the adoption of Order No. 1210/2014 and Decision No. 5/2014, the local public authorities taxed renewable energy companies by material amounts, both retroactively and for current periods, further to the classification of wind turbine towers as buildings. After a first favourable solution in front of the Bucharest Court of Appeal in September 2017, the case file moved to the High Court of Cassation and Justice. A team of lawyers led by Christina Vladescu, Partner at Tuca Zbarcea & Asociatii, provided legal assistance and representation to the five companies from the renewables sector in all the proceedings before the court. The High Court of Cassation and Justice rejected the final appeal lodged by the Ministry of Public Finance and two municipalities which acted as intervenors in this case. The decision of the High Court of Cassation and Justice handed down in Case No. 2872/2/2015* is final. "We welcome the decision of the High Court, which confirms the ruling of the court of first instance. As a result of this decision, things got back to normal in the hierarchy of legal instruments, which is likely to strengthen investors' trust both in the legislative system and in the judicial power", said Christina Vladescu. This is a major decision of the High Court of Cassation and Justice, with a significant impact on the relevant companies, considering that the local authorities charged such companies with material amounts as building tax for the wind turbine towers under the aforementioned administrative acts which have now been annulled under a final decision. Tuca Zbarcea & Asociatii has a leading practice in Dispute Resolution, the firm's pre-eminence in this area being already acknowledged by renowned international publications, such as Chambers & Partners, Legal 500 and the Global Arbitration Review. More so, the firm has recently received the "Law Firm of the Year in Romania for Dispute Resolution" Award by Benchmark Litigation Europe (a publication of Euromoney Legal Media Group), one the most coveted and prestigious international accolades for law firms specialising in litigation and arbitration.
June 18, 2020
Țuca Zbârcea & Asociații obtains a final ruling from the High Court of Cassation and Justice on wind turbine taxation

The High Court of Cassation and Justice maintained, by its decision of 17 June 2020, the judgment under which several wind power companies had been granted by the court of first instance the annulment of Minister of Public Finance's Order No. 1210/2014 and of the Central Fiscal Committee's Decision No. 5/2014. This is a major decision of the High Court of Cassation and Justice, with a significant impact on the relevant companies, considering that the local authorities charged such companies with material amounts as building tax for the wind turbine towers under the aforementioned administrative acts which have now been annulled under a final decision.

Five of the most important companies active in the renewable energy sector, legally represented by Țuca Zbârcea & Asociații, have submitted a motion for the annulment of Minister of Public Finance's Order No. 1210/2014 and of the Central Fiscal Committee's Decision No. 5/2014. Subsequently, other wind farm companies joined in these legal proceedings. [+]

The High Court of Cassation and Justice maintained, by its decision of 17 June 2020, the judgment under which several wind power companies had been granted by the court of first instance the annulment of Minister of Public Finance's Order No. 1210/2014 and of the Central Fiscal Committee's Decision No. 5/2014.

Five of the most important companies active in the renewable energy sector, legally represented by Țuca Zbârcea & Asociații, have submitted a motion for the annulment of Minister of Public Finance's Order No. 1210/2014 and of the Central Fiscal Committee's Decision No. 5/2014. Subsequently, other wind farm companies joined in these legal proceedings.

The Central Fiscal Committee's Decision provided that "the tower supporting wind turbines falls within the category of buildings", which practically supplemented the law (i.e., the provisions of Article 249(5) of the former Tax Code) and thus paved the way for the issuance by the local authorities of notices of assessment for taxes on buildings.

Further to the adoption of Order No. 1210/2014 and Decision No. 5/2014, the local public authorities taxed renewable energy companies by material amounts, both retroactively and for current periods, further to the classification of wind turbine towers as buildings.

After a first favourable solution in front of the Bucharest Court of Appeal in September 2017, the case file moved to the High Court of Cassation and Justice. A team of lawyers led by Christina Vlădescu, Partner at Țuca Zbârcea & Asociații, provided legal assistance and representation to the five companies from the renewables sector in all the proceedings before the court. 

The High Court of Cassation and Justice rejected the final appeal lodged by the Ministry of Public Finance and two municipalities which acted as intervenors in this case. The decision of the High Court of Cassation and Justice handed down in Case No. 2872/2/2015* is final.

"We welcome the decision of the High Court, which confirms the ruling of the court of first instance. As a result of this decision, things got back to normal in the hierarchy of legal instruments, which is likely to strengthen investors' trust both in the legislative system and in the judicial power", said Christina Vlădescu.

This is a major decision of the High Court of Cassation and Justice, with a significant impact on the relevant companies, considering that the local authorities charged such companies with material amounts as building tax for the wind turbine towers under the aforementioned administrative acts which have now been annulled under a final decision.

Țuca Zbârcea & Asociații has a leading practice in Dispute Resolution, the firm's pre-eminence in this area being already acknowledged by renowned international publications, such as Chambers & Partners, Legal 500 and the Global Arbitration Review. More so, the firm has recently received the "Law Firm of the Year in Romania for Dispute Resolution" Award by Benchmark Litigation Europe (a publication of Euromoney Legal Media Group), one the most coveted and prestigious international accolades for law firms specialising in litigation and arbitration.

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