News
15 December 2020
Against the backdrop of a shortfall in liquidity caused by the COVID-19 pandemic, the deadline for submitting applications to access the State Aid Scheme "EximBank Guarantees under the COVID-19 State Aid Scheme" has been extended until the 31st of December.
The procedure of the two state aid schemes consisting of, on the one hand, state guarantees...
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11 December 2020
During this week, three normative acts of interest for employers and employees were published, respectively:
Emergency Ordinance no. 211/2020 regarding the extension of the application of some social protection measures adopted in the context of the spread of the SARS-CoV-2 coronavirus, as well as the amendment of the G.E.O. no. 132/2020 on state support me...
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02 December 2020
1.1. Introduction
By way of the Judgment of the Court of November of the 25th of November 2020 in Case C-269/19 (hereinafter the “Judgment”), the Court of Justice of the European Union (hereinafter “CJEU”) ruled:
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24 November 2020
On 5 November 2020, Law 223/2020 on simplification and debureaucratisation of formalities in the case of transfer of shares and of the payment of the share capital by amending Company Law 31/1190 (”Law 223/2020”) has entered into force.
The main amendment brought by Law 223/2020, as it can be seen from its title, is the simplificat...
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11 November 2020
At the end of last week, new restrictions were made official in order to prevent the spread of the SARS-CoV-2 virus, by means of Government Decision no. 935/2020 for the amendment and completion of annexes no. 2 and 3 to the Government Decision no. 856/2020 regarding the extension of the state of alert on the Romanian territory starting with October 15, 2020, as well as the establishment of the measur...
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10 November 2020
On November 6, 2020, two normative acts were published in the Official Gazette, Part I, no. 1042, with important implications for employers, respectively:
The Government Decision no. 935/2020 on the amendment and completion of annexes no. 2 and 3 to the Government Decision no. 856/2020 on the extension of the status of alert on Romanian territory, starting with...
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06 November 2020
The competition legislation has been recently amended following the enactment of the Government Emergency Ordinance no. 170/2020 on actions for damages in the case of infringements of competition law, as well as for amending and supplementing Competition Law no. 21/1996 (“GEO no. 170/2020”).
At the same time, the enactment of a...
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04 November 2020
The Government Emergency Ordinance no. 182/2020 for completing the Government Emergency Ordinance no. 147/2020 on granting parents days off to supervise children when in-person teaching activities are limited or suspended by schools and early childhood education units, following the spread of the SARS-CoV-2 coronavirus (“GEO 147”), as well as the Government Emergency Ordinance n...
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21 October 2020
The number of confirmed cases with the SARS-CoV-2 virus has alarmingly increased not only in Romania but also in the European states and other states as well, leading to the necessity of drafting and adopting of more restrictive measures in order to prevent the spread of the coronavirus.
In Romania, due to the registration of a large number of cases, the Government has...
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09 October 2020
On 3 October 2020, the aforementioned law has entered into force and it brings substantial changes to the Labour Code, from more than one perspective. More specifically, the aspects that have been amended regard:
Human resources activity
The novelty element brought by the Law no. 213/2020 in thi...
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12 August 2020
On the 7th of August, 2020, the Law no. 167/2020 was published in the Official Gazette, part. I, no 713 (hereinafter the “Law no. 167/2020”), having as object the amendment and completion of the Government Ordinance no. 137/2000 on the prevention and sanctioning of all forms of discrimination, as well as for the completion of art. 6 of the Law no. 202/2002 on the eq...
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12 August 2020
Emergency Ordinance no. 130/2020 regarding measures for financial support from non-reimbursable external funds, related to the Operational Program Competitiveness 2014-2020 (POC 2014-2020), in the context of the crisis caused by COVID-19 (hereinafter “GEO 130/2020”) entered into force on August 6th 2020.
GEO 130/2020 provides the...
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11 August 2020
G.E.O. no. 132/2020 which regulates multiple aid measures in favor of employees and employers, among which the long awaited Kurzarbeit, we previously discussed about, entered into force yesterday, August 10th, 2020.
The current situation of the labor market
This concept is launched in a labor market where...
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27 July 2020
The Emergency Ordinance no. 118/2020 regarding the Program supporting small and medium enterprises named “SME Leasing Program for Equipment and Machinery” (hereinafter “GEO 118/2020”) entered into force on the 24th of July 2020.
The SME Leasing Program for Equipment and Machinery (hereinafter referred to as “
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20 July 2020
The law regarding the quarantine and isolation measures
After the Romanian Constitutional Court declared as unconstitutional certain provisions of the law on healthcare reform regulating the quarantine and the compulsory isolation measures, the legislative vacuum in this area was covered by Law no. 136/2020 on the establishment of measures in the field of...
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16 July 2020
Law no./ 113/2020 regarding the approval of the Government Emergency Ordinance no. 88/2018 (hereinafter “Law 113”) has entered into force starting 11 July, with a series of important amendments of Law no. 85/2014 regarding the procedures for preventing insolvency and insolvency procedures (hereinafter “Law 85/2014”) and other normative acts, as fol...
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07 July 2020
On Wednesday, the 1st of July 2020, the Romanian government announced an economic recovery plan designed to help society overcome the current crisis caused by the COVID-19 pandemic. The proposed plan aims to support Romania's key areas for growth and proposes a new model of economic growth based on the stimulation and development of the capital and the competitiveness of Romanian companies. The plan p...
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02 June 2020
Measures subsequent to the reactivation of employment contracts
As already known, during the state of emergency, as decreed by the Presidential Decree no. 195/2020 and extended according to the Presidential Decree no. 240/2020, as well as subsequently, until 31 May 2020, employers whose activity was affected due...
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26 May 2020
Pursuant to article 71 paragraph (2) of Law no. 55/2020 establishes the obligation of public institutions and authorities, economic operators and professionals (the persons concerned by the legal provisions) to ensure on entering the worksite, the epidemiological screening and mandatory disinfection of hands, both for personnel and visitors
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26 May 2020
By means of the Government Decision no. 394/2020, on May 18, on the entire territory of Romania, the state of alert has been established, for a period of 30 days. Thus, employers are forced to take certain measures to ensure that they safely perform their activities, measures which will be further detailed in subsequent orders.
Moreover, article 71 parag...
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14 May 2020
Recently it was published in the Official Gazette of Romania the Government emergency ordinance no. 62 regarding the adoption of certain measures concerning companies regarding the organisation of meetings of their corporate bodies (”GEO 62” ), applicable starting with 8 May 2020.
GEO 62 contains provisions on the convening and holding of t...
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27 April 2020
On April 27, 2020, the Military Ordinance no. 10 regarding the measures to prevent the spread of COVID-19 was published in the Official Monitor of Romania.
According to the Military Ordinance, people over 65 can leave their domicile regardless the time frame, only for the following purposes (i) professional activity; (ii) for healthcare purposes; (iii) carrying out agr...
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24 April 2020
Among the most powerful economic effects of the crisis generated by the COVID-19 pandemic and with immediate impact are impairment of the liquidity levels of companies, especially for those companies active in sectors where activity has been interrupted, such as tourism, restaurants or aviation. However, the economic crisis is just in the early stages and its implications are not yet fully known. Therefor...
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23 April 2020
The Government Emergency Ordinance no. 38/2020 regarding the use of electronically signed documents by public authorities and institutions
In the context of the COVID-19 pandemic, public authorities need to issue measures which prevent, as much as possible, the direct contact between individuals. On the 7th of April 2020, the Government Emergency...
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15 April 2020
On 14 April 2020 the Presidential Decree no. 240 regarding the extension of the state emergency in Romania was published in the Official Monitor of Romania, applicable as of today, 15 April 2020.
According to the Decree the state of emergency is extended for an additional 30 day-period starting with 15 April 2020.
Moreover, the Decr...
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10 April 2020
Today was published in the Official Monitor of Romania the Military Ordinance no. 8 establishing new measures to prevent the spread of COVID-19.
According to Military Ordinance no. 8, the following categories of persons can leave their domicile:
holders of commercial fishing authorizations...
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09 April 2020
The Romanian Government has recently adopted through Government Emergency Ordinance no. 42/2020 a series of measures aimed to support SMEs and microenterprises whose businesses have been affected as a result of the COVID-19 crisis. It is estimated that the state aid detailed below will be granted to a maximum number of 40.000 beneficiaries, against a total budget of EUR 161 million.
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07 April 2020
The Law adopted by the Parliament on 4 April, regarding the suspension of payment of credit instalment (the “Law”) overlaps with the EOG no. 37/2020 regarding granting certain facilities for credits (the “EGO”), whdile in the same time presenting a number of essential differences.
The Law has been sent for promu...
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07 April 2020
Both creditors and debtors were keenly anticipating the entry into force of the application guidelines for the GEO no. 37/2020 regarding the facilities granted for loans (the “GEO”) in order for them to bring clarifications and guidance on the application of the deferral of payments of loan instalments (the “Guidelines”). The premise of the regulat...
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05 April 2020
On April 4, 2020 the Military Ordinance no. 7 establishing new measures to prevent the spread of COVID-19 was published in the Official Monitor of Romania.
Military Ordinance no. 7 stipulates that, during the state of emergency the quarantine measure is established in Țăndărei village, Ialomița county.
Therefore, in the quarantine a...
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03 April 2020
The conditions for granting the technical unemployment allowance, as initially consecrated by the Government Emergency Ordinance no. 30/2020 on the amendment and completion of a series of normative acts and establishing some measures in the field of social protection in the context of the current epidemic situation determined by the spreading of the coronavirus (”GEO 30”...
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03 April 2020
On March 31, 2020 two new military ordinance, Military Ordinance no. 5 and Military Ordinance no. 6, were published in the Official Monitor of Romania; they stipulate new measures to prevent the spread of COVID-19.
Military Ordinance no. 5/2020
According to the provisions of Military Ordinance no. 5 th...
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02 April 2020
The much-anticipated Emergency Government Ordinance no. 37/2020 regarding the facilities granted to certain categories of creditors by credit institutions and non-banking financial institutions (“GEO”), has been adopted by the Romanian Government in the 26th of March meeting and published on 30 March. The measures anticipate that economic agents will be confron...
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30 March 2020
On March 29, 2020 a new Military Ordinance was published in the Official Monitor of Romania which stipulates new measures to prevent the spread of COVID-19.
Therefore, the Military Ordinance no. 4 stipulates that people over 65 can leave their domicile apart for the time frame previously set from 11:00hrs to 13:00hrs only for medical purposes by presenting to the compe...
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31 March 2020
During the last years, the Romanian M&A market was characterized by an upward trend of profile transactions, the year 2019 registering the highest level in the last ten years. Although the negative impact of the 2008 global economic crisis has had long-term repercussions, the M&A market has gradually experienced a significant comeback with essential and significant transactions both in terms of va...
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27 March 2020
The much anticipated emergency government ordinance (GEO) regarding the facilities granted to certain categories of creditors by credit institutions and non-banking financial institutions, has been adopted by the Romanian Government in the 26th of March meeting. The measures anticipate that ONLY certain SMEs will be confronted with severe liquidity shortages, as well as individuals that wi...
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26 March 2020
The rapid and large-scale spread of the COVID-19 virus economically affects all types of companies. The restrictive measures undertaken recently by the public authorities have a major impact on the economy, therefore protective instruments for the business environment should also be considered in such context. As a consequence, the Ministry of Economy, Energy and the Business Environment...
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26 March 2020
This article aims to conduct a brief analysis of the measures adopted in the criminal law field by the Romanian Government at a national level, following the World Health Organizations’ assessment of the COVID-19 spread as a pandemic, by focusing on the content of said measures, their grounds, as well as their potential effects. The article also refers to the potential applicability of specific pree...
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24 March 2020
On March 24, 2020, the Military Ordinance no. 3 regarding the measures to prevent the spread of COVID-19 was published in the The Official Monitor of Romania; the measures applied as of today, starting at 12 pm.
Among its most important provisions, we mention that the text prohibits any outdoor activities, including during the daytime, except for the following purposes...
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24 March 2020
Special fiscal measures implemented at national level through the adoption of Government Emergency Ordinance no. 29/2020 in the context of the COVID-19 pandemic
Given that the spread of COVID-19 virus has created circumstances with major negative impact on both global and national economies, the Romanian Government has aligned with the practice of other EU member states and has adopted a series of measures, o...
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20 March 2020
The Decree of the President of Romania no. 195 / 16.03.2020 regarding the establishment of the state of emergency on the territory of Romania followed the legislative process and on March 19, 2020 it has been unanimously adopted by the Romanian Parliament.
In this respect, we hereby remind the fact that starting with March 16, 2020, the state of emergency has been esta...
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18 March 2020
In times when the major concern of private companies is the minimization of material damage, at least as much emphasis should be placed on the human factor. The financial uncertainty faced by the employees comes with the uncertainty of their health.
Although, regarding both elements, there are no absolute guarantees, some employers may, with the existing legislative instruments, contribute to a greater degree to the comfort a...
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17 March 200
In a strongly economic context unbalanced by the COVID-19 pandemic, Romania aligns itself with the measures taken by other EU member states and declares a state of emergency to allow the authorities to implement the most appropriate strategies for managing and preventing the spread of coronavirus.
In short, the state of emergency represents the set of exceptional measures of political, economic and public order applicable thr...
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16 December, 2019
Bulboacă și Asociații team advised D. Moonshots, an investment fund created by Sacha Dragic, founder of the Superbet group, through legal advice based on preparing and assisting in negotiations, execution of documents, assistance in due dilligence process and assistance in structuring, signing and implementing the transaction. Congratulations to the entrepreneur Mircea Popa, founder of Medicai, for innovation and business growth.
...
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3 October 2019
Bulboaca & Asociatii’ s experienced team, with an exceptional legal training in the field, was awarded at the 10th edition of the Lawyers' Gala, an event organized by the Ziarul Financiar.
Were applauded three projects to the success of which Bulboaca and Asociaţii’s specialists contributed, through the legal advice offered in structuring the transactions.
Eximbank, Chimcomplex and Superbet, three...
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21 June 2019
Bulboacă & Asociaţii law firm assisted Banca de Export Import a României EximBank S.A. (The Export-Import Bank of Romania – EximBank S.A.) in the acquisition of the share package held by the National Bank of Greece Group within Banca Românească S.A. (Romanian Bank S.A.). As a result of the transaction, EximBank becomes the major shareholder of Banca Românească, holding 99.28% of its share...
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15 October 2018
Bulboacă & Asociații organized on Wednesday, October 10, 2018, the conference "Fire protection, essential for the safety of financial and real estate investments", an event addressed to banks and asset management companies.
The representatives of the most important financial and banking institutions in Romania as well as the asset management companies attended an interactive debate, the main topics approached be...
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25 July 2018
The tragedy of the Russian mall fire that left more than 60 victims in March this year is, regretfully, not a singular occurrence. Such unfortunate events happen year after year. Fire safety, therefore, remains an important topic for companies and the authorities involved.
Several observations and trends in this area will be commented below. Our analysis is based on the official information provided by the General Inspectorat...
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03 November 2017
On November 2nd, 2017, Bulboacă & Asociații organized the “Lobbying in Romania: where to?” debate. The theme and purpose of the event was to engage key actors from the public decision-influencing domain in an open dialogue concerning the status of lobbying activities in Romania and to offer new approaches for a proper development of the same in line with European policies and good practices...
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30 August 2017
During the 4th session of scientific presentations "International Multidisciplinary Scientific Conference on Social Sciences & Arts SGEM 2017" (Albena, Bulgaria), our colleague Lidia Lupu contributed as a speaker with the presentation titled "Teleworking and its benefits on work-life balance".
The developed the...
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21 June 2017
Bulboacă & Asociații continues the ennoblements and promotes Andrada Bulgaru (Head of General Business Law) to the position of Partner, starting 19 June 2017, and Claudiu Damian (litigation, corporate, commercial, insolvency) – prom...
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May 2017
For our office located in Bucharest, we are looking for a hands-on Receptionist, with main responsibilities:
JOB DESCRIPTION:
Perform front-office duties, including directing incoming calls and taking accurate messages;
Monitor and process incoming and outgoing mail, faxes and packages;
Arrange meetings and greet visitors;
Protocol related activities;
Boo...
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April 2017
“Bulboacă şi Asociaţii” Law Firm announces the launch of “The Romanian Matrix” Cultural Association, a non-legal project designed to complement, in the local social – cultural space, the legal services of high quality and pronounced identity that the Law Firm provides to its clients.
Meant as a pole of rediscovery and revaluation of our na...
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March 2017
JOB DESCRIPTION:
Working hours: from 3 p.m. (15:00) to 9 p.m. (21:00);
Secretarial Support;
Handling incoming telephone calls, incoming and outgoing fax messages and e-mails;
Making travel arrangements, hotel reservations, organizing meetings;
Organizing and maintaining office files and records;
Follow-up of hearings on portal just website;
Pr...
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February 2017
CANDIDATE PROFILE:
Provide accurate advice on billing queries and procedures;
Handle a specialised program in order to fill out invoices promptly;
Arrange, prepare for and attend revenue reviews with designated partners and associates;
Prepare and deliver pre-bills to partners and others nominated to assist the process, including narratives and other analyses as required;
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November 2016
Our colleague, Costin Teodorovici, attended the International Conference “Fraud & Compliance – the way from Prevention to Deterrence”, where he held a presentation regarding “Dynamics of control functions / prevention and business functions”.
Organized by Association for Preventing and Combating Fraud (APCF) &...
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November 2016
Bulboacă & Asociații is mentioned, this year also, in the tops of the Legal Directory International Financial Law Review - IFLR1000, 2017 edition, thus keeping alive the tradition started 9 years ago. The business law firm, Bulboacă & Asociații, was ranked in the top tiers of all 5 practice areas, analysed in Romania: Banking, Energy and Infrastructure, Finance, Capital Markets and M&A.
Likewise,
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14 September 2016
As part of the implementation of our new identity, which reflects the firm's vision, Bulboacă & Asociații has launched on Wednesday, September 14th 2016, the national cultural project „Matricea Românească” (The Romanian Matrix).
The Romanian Matrix is our honest effort of retrieval, rediscovery and reassertion of the Romanian identity, a project that will help us revive the past, capitaliz...
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September 2016
“I do not know how others are, but when I think of (...) toys and games full of the childlike humour and charm, I seem to exult with joy, even now!” (Ion Creangă)
This year, Bulboacă & Asociații carried out its team building exercise during September 8-11 in Sf. Gheorghe, Tulcea. Aside from the activities scheduled for this...
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11 April 2016
Bulboacă & Asociații SCA is consolidating its tax consultancy practice by bringing in Adriana Stoian as Tax Partner. Adriana will coordinate Bulboacă & Asociații Tax, an entity operating as an affiliate of the law firm since 2013.
With a professional experience spanning more than 16 years in the tax consultancy sector, Adriana oversaw an impressive nu...
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17 March 2016
Bulboacă & Asociații has the honour of hosting the Re>patriot Gala, an event organised by the Romanian Business Leaders Foundation on 17 March 2016. The Re>patriot Gala is a fundraising event and a reason to spend an interesting evening together with the members of the Foundation and their special guests.
The Gala organisers will also hold an auction whose funds will be used to promote and develop...
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2 March 2016
Adrian-Cătălin Bulboacă was one of the speakers of the ”2016 Financial Year” Conference, organised by Finmedia. Together with representatives of the National Bank of Romania, of the Financial Supervision Authority, of the Parliament, financial analysts, bankers, investment and insurance specialists, consultancy companies, and representatives of the business environment, the panel discusses current events affecting Romania...
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19 February 2016
On the 19th February 2016 we celebrated the 140th anniversary of Constantin Brâncuși, the Romanian sculptor. In November 2015, the Romanian Government officially declared 19 February as Brâncuși Day – National Day.
Considered a pioneer of modernism, one of the most influential sculptors of the 20th-century, Brâncuși - (born Feb. 19, 1876, Hobița, Gorj – died Mar. 16, 1957, Paris) - is called the...
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15 February 2016
On 15 February 2016, the “Bulboacă și Asociații” law firm promoted Andrada Bulgaru - the coordinator of the insolvency practice -, and Simona Pirtea - the coordinator of the criminal law practice -, to the position of Managing Associates. These promotions are the result of an organic growth within the firm, visible since the end of...
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15 ianuarie 2016
On the 15th January 2016 we celebrated the 166th anniversary of Mihai Eminescu, Romania's National Poet. The Romanian Academy, an institution that will also celebrate this same year 2016, 150 years since its foundation in 1866, had the initiative in establishing Mihai Eminescu's day of birth as Romania's National Culture Day.
Born in Ipotesti, Mihai Eminescu (15 January 1850 - 15 June 1889) was the poet whos...
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14 December 2015
Bulboacă & Asociații is pleased to host Burning Issues - Dialogues by the Fireplace - a monthly series of debates of Export Club.
Distinguished invited speakers, as well as a select audience of professionals - academics, business leaders, public intellectuals, politicians, diplomats, media personalities etc. - will get together once a month and engage in an informal dialogue on the forc...
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1 December 2015
To celebrate Romania's National Day, Adrian-Cătălin Bulboacă spoke about national values with 6th grade students of the "St. Constantin and Elena" School in Bucharest.
More details, including Adrian-Cătălin Bulboacă's speech (in Romanian only) here.
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16 - 29 July 2015
Bulboacă & Asociații have had the pleasure of supporting two young Romanian musicians at the Sinaia Summer Music Academy, an international instrumental training stage at the highest standards, with a 10-year tradition, focusing on violin, viola, cello and flute. Mr. Remus Azoiței – a violin professor at the Royal Academy of Music, London was...
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14 - 15 May 2015
Bulboaca & Asociații carries on the tradition of supporting cultural events of great value, thus backing the organisation of one of the greatest concerts held at The Bucharest Philharmonic (The "Oldest" Orchestra in Eastern Europe - 1868) on the 14th and 15th of May 2015, conducted by Christian Badea.
Act III of "Parsifal&qu...
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1 May 2015
After a long, thorough and complex process of evaluation of the firm's long term strategy, we are pleased to inform that Bulboacă & Asociații has begun the implementation of its new identity, reflecting the firm's new vision.
As part of our rebranding, we have, as of 27 April 2015, moved to a new location....
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Publications
July 2019
Law No. 129/2019 on the prevention and sanctioning of money laundering and terrorism financing was published in the Official Gazette of Romania No. 589 of 18 July 2019. The Law No. 129/2019 entered into force on 21 July 2019 repelling the former Law No. 656/2002 on the prevention of money laundering and terrorism financing.
Please find
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May 2019
On April 11, 2019, the Court of Justice of the European Union decided, in Case C-603/17, Peter Bosworth and Colin Hurley v. Arcadia Petroleum Limited and Others, having as object a request for a preliminary ruling concerning the interpretation of the provisions of Section 5 of Title II (Articles 18 to 21) of the Convention on jurisdiction and the recognition and enforcement of judgments in civi...
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May 2019
On March 25, 2019, the Ministry of Health issued Order no. 444/2019 for the approval of the Rules on the Establishment, Organization and Operation of Pharmaceutical Units (the "Rules"). The Rules were published in the Official Gazette no. 270bis of 9 April 2019 and entered into force on 24 April 2019. Order no. 444/2019 repeals the Order of the Minister of Health no....
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January 2019
A week ago the European Securities and Markets Authority (ESMA) published a report on crypto-assets and initial coin offerings (ICOs). Also, on the same date of 9 January 2019 another EU supervisory authority, i.e. the European Banking Authority (EBA) released the results of its own assessment of the applicability and suitability of EU law to crypto-assets.
This is a summary on ES...
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August 2018
On 16 July 2018, the Code of Best Practices for the conduct of State aid control procedures was adopted by the European Commission. The Best Practices Code was published in the Official Journal of the European Union no. C 253, on 19 July 2018, and the European Commission will apply this Code to measures which were brought to its attention 30 days after publishing date.
The Best Practice...
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August 2018
Law no. 190/2018 for the application of Regulation (EU) no. 2016/679 regarding data protection has been published in the Official Gazette no. 651 from 26 July 2018 and has entered into force starting with August 1st.
The GDPR is already applicable in the EU member states since 25 May 2018. Romania was also expected to show how it will regulate in the fields where the GDPR permits d...
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July 2018
On July 18, 2018 Law no 185/2018 was adopted for the approval of Government Emergency Ordinance no 31/2018 on the amendment and completion of the Law regarding cadastre and real estate publicity no 7/1996.
Law no 185/2018 was published in the Official Gazette, Part I no 638 on July 23, 2018 entering into force on July 26...
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July 2018
The Law no. 164/2018 amending Government Emergency Ordinance no. 99/2006 on Credit Institutions and Capital Adequacy has been published in the Official Gazette no. 626 of July 19, 2018.
The new law will unblock the saving-lending system for housing purposes in Romania. The main amendments brought by the legislation are
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July 2018
On 12 July 2018 Law no. 163/2018 for the amendment and supplement of the Accounting Law no. 82/1991, for the amendment and supplement of the Companies Law no. 31/1990 and also for the amendment and supplement of Law no. 1/2005 for the organization and functioning of a cooperative society (“Law 163”) was published in the Official Gazette of Romania no. 595 and shall enter into force...
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July 2018
On June 29, 2018 Order no 71/2018 (“Order 71/2018”) was approved concerning the prorogation of the term provided in Article 2 paragraph (2) of Order no 96/2016 of the Minister of Internal Affairs (“Order 96/2016”) on the approval of the Performance criteria regarding the establishment of the voluntary and private services for e...
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June 2018
On 21 June 2018 the Government Emergency Ordinance no 51/2018 (“GEO 51”) for amending Law no 350/2001 regarding land planning and urbanism and prolonging several deadlines was approved. GEO 51 was published with the Official Gazette no 520 of 25 June 2018 and brought the following main changes which are available in the below pdf document.
This article...
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June 2017
On 27 June 2017, the legislative initiative (the “Draft Law”) amending and supplementing the Law on companies no. 31/1990 (the “Companies Law“”), the Law on accounting no. 82/1991 (the “Accounting Law”) and the Law on the organization and operation of cooperatives no.1 / 2005 (the “Coopera...
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May 2017
Law no. 217/2016 on food waste reduction (the “Law”) has entered into force on 21 May 2017.
The Government has yet to approve the methodological norms to the Law (Romanian language: normele metodologice de aplicare) which are indispensable for the application of its provisions. A draft of suc...
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May 2017
Although the end of 2016 came with major amendments to the legal framework concerning the construction and urbanism legislation by enactment of the Emergency Government Ordinance no. 100/2016 (the "Ordinance"), the Ordinance ceased its effects as of 5 May 2017 when Law no. 86/2017 on the rejection of the Ordinance (the “Rejection Law&rdqu...
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April 2017
On 31 March 2017, it was published in the Romanian Official Gazette the Ordinance no. 24/2017 amending and supplementing Law no. 220/2008 establishing the support scheme for renewable energy (the "Ordinance").
The Ordinance intends to protect the existing investment environment and to maintain into function the cu...
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January 2017
The end of 2016 brought with itself important amendments and supplements to the legal framework concerning the construction and urbanism legislation, by the entering into force of the Emergency Ordinance no. 100/2016 (the "Ordinance").
The explanatory memora...
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December 2016
Recitals
The biggest legislative news of 2016 is by far the entrance into force of the Law regarding datio in solutum. Intended as a social policy mean, the sole aim of the bill was to create a legal mechanism applicable to consumers unable to reimburse their mortgaged loans.
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October 2016
On 18 October 2016, the Chamber of Deputies has adopted the Law amending and supplementing (the “Amending Law") the Law on electricity and natural gas no.123/2012 (“Law no. 123/2012”).
The Amending Law was previously sent back to the Parliament by the President for a...
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October 2016
In order to limit to a minimum the quantity of food products that are destroyed, the Chamber of Deputies adopted, on the 18 October this year, the law on reducing of food waste (the ”Law").
The approved version of the Law contains only general provisions, following that in 6 months from its publication in the Of...
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October 2016
In April 2016, the Parliament has initiated a draft law amending the statute of the National Authority for Consumer Protection (“NAPC”). The draft law was adopted by the Chamber of Deputies and is currently under the review of the permanent commissions of the Senate (the “Draft Law”).
The Draft Law...
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September 2016
The Romanian Competition Council (the “RCC”) released recently for public consultation a Draft law on actions for damages for infringements of the Competition Law (the "Draft law").
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September 2016
On September 20th, 2016, Emergency Ordinance no. 52/2016 on credit agreements for consumers regarding immovable assets and amending and supplementing Government Emergency Ordinance no. 50/2010 on consumer credit has been published in the Official Gazette (the ”Ordinance”), which will enter into force on September 30th, 2016.
...
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August 2016
Recently, on the website of the Ministry of Economy, Trade and Relations with Business Environment, it has been launched for public debate a draft Ordinance amending and supplementing Government Emergency Ordinance no. 77/1999 on measures to prevent payment default, approved with amendments by Law no. 211/200, as subsequently amended (the “Draft Ordinance”).
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July 2016
The Ministry for Regional Development and Public Administration has published a draft of a new Regulation concerning the reception (i.e., works completion acceptance) of buildings (the “Draft Reception Regulation”) which, if approved, will replace the current Regulation for the reception of construction works and related installations approved through the Government Decision no....
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July 2016
On 15 July 2016, it was published in the Official Gazette Law no. 150/2016 ( "Law no. 150/2016") amending and supplementing Law no. 321/2009 on food marketing ("Law no. 321/2009") The amendments brought by Law no. 150/2016 aim, among others, as further detailed below, to stimulate the increase of the demand of food products of Romanian o...
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July 2016
Order no. 2048/2016 amending the Order of the National Agency for Fiscal Administration no. 3841/2015 approving the model and content of form (088) "Affidavit for assessing intention and ability to carry out economic activities involving VAT taxable operations ", has been published In the Official Gazette 533/15 July 2016.
The main changes concern:
1.Submiss...
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July 2016
In the Official Gazette 488/30 June 2016 it was published Government Emergency Ordinance 32/2016 amending Law 27/2015 regarding the fiscal code and regulation of certain financial - tax measures ( "GEO 32/2016").
The main changes to the Law 227/2015 regarding the fiscal code, aimed at:
1. The exemption from income tax of income from wages and salaries fo...
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June 2016
As a result of a legislative effort of 13 months, the Romanian Parliament adopted Law No. 88/2016 regarding additional requirements for labelling fresh milk for consumption and dairy products (“Law No. 88/2016”).
The draft law was initiated by 5 deputies and senators, who grounded their proposal on the following 3 arguments¹:
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May 2016
Romanian Constitutional Court ruled that the measure of having an employment contract suspended, upon the employer’s initiative, throughout the disciplinary inquiry, is a disproportionate containment of the right to work, guaranteed by Article 41 paragraph (1) of the Romanian Constitution.
1. Employers’ decisions to suspend employment – susceptible of subj...
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May 2016
EU Regulation 655/2014 of the European Parliament and of the Council shall come into force 18 January 2017, setting forth the procedure to be followed for the freezing of bank accounts of counterparties for the purpose of recovering cross-border receivables.
The Regulation establishes the legal institution of the EAPO, whose main role is to confer upon the creditor a guarantee that the...
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April 2016
Even though the legal core of the consumer protection issue has been existing for the last 15 -20 years both at national and European levels, the number of litigations in the field has grown significantly only in the last 5 years (2010 – 2015). This situation has been generated by the entrance into force of certain legal enactments (e.g. EGO no. 50/2010 regarding on cre...
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March 2016
Enforcement over shares – controversial topic
Throughout time, the enforcement of mortgages established over shares generated many debates resulting from the lack of correlation of Company Law no. 31/1990 (the „Company Law”), on one hand, with the economic context, respectively the legal nature of limited liability companies regulated...
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January 2016
Competition Law No. 21/1996 (the “Competition Law”) was recently amended and supplemented by Law No. 347/2015 approving Government Emergency Ordinance No. 31/2015, and these amendments are applicable as of January 1, 2016.
In essence, the new changes may be briefly described as follows:
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October 2015
Please see below the article written by Cosmin Stăvaru, Partner with B&A, published in October 2015 in Debizz magazine. (Article available only in German language)
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18 June 2015
Investment arbitration is perhaps one of the least explored subjects in the legal world, mostly because of the highly specialized legal training that is required to understand the complex framework in which it takes place. Due to this, investment arbitration has developed and grown at its own pace, critics would say...
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