Our latest news are shown below.

We regularly organise legal training sessions for our clients, covering multiple topics.
We also produce newsletters, briefings and articles covering a broad range of legal services. 

Please visit this section regularly in order to get a full update on our activity as a law firm or subscribe to our communications and legal newsletters here.


State guarantees for SMEs and large enterprises

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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The extension of state support measures for employees and employers in the context of the epidemiological situation caused by the spread of SARS-COV-2

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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Legislative changes regarding transfer of shares to third parties

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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New measures to prevent the spread of COVID-19 applicable as of November 9

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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Telework and work from home. News and challenges in the context of COVID-19

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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Competition legal updates

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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New legislative changes that have an impact on the labor legislation

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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Applicable measures during the state of alert as of 15 October

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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Law no. 213/2020 on the amendment of Law no. 53/2003 – Labour Code

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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Grants for businesses affected by the COVID-19 pandemic

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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Measures on supporting and stimulating the work force – legal context

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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The IMM Leasing Program for Equipment and Machinery

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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The law regarding the quarantine and isolation measures

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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Main amendments to the Insolvency Law

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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Economic recovery plan - July 2020

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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Post alert state support measures for employees

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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Measures in the field of labour and social protection during the state of alert

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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COVID-19: Special rules regarding general meetings of shareholders

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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Military Ordinance no. 10 from 27 April 2020

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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COVID-19: Strategies for preserving company liquidity

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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COVID-19: UPDATE – Electronically signed documents

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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Decree no. 240 from 15 April 2020

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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Military Ordinance no. 8 from 10 April 2020

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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COVID-19: State aid scheme for SMEs and microenterprises

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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The application guidelines for the GEO regarding the postponement of loan instalments: clarification or confusion?

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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Military Ordinance No. 7 from 04 April 2020

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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Technical unemployment – conditions and procedure

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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Military Ordinance No. 5 & 6 from 31 March 2020

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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Opinion regarding the payment of credit instalments in the C-19 context

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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Military Ordinance No. 4 from 29 march 2020

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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M&A – New approaches in the context of the COVID-19 pandemic

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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Opinion regarding the payment of credit instalments in the C-19 context

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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Order no. 791/2020 regarding the issuance of the state of emergency certificates for economic operators with activities that have been affected in the context of SARS-CoV-2 pandemic

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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What risks are incurred by the breach of prevention measures against the spread of the coronavirus?

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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Measures adopted by the Military Ordinance no. 3 from 24 March 2020

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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Special fiscal measures, technical unemployment and financing of the SME segment

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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Measures adopted by the Romanian Government within the current economic context

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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COVID-19: Employers, choices and obligations

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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State of emergency to fight the coronavirus in Romania

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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Bulboacă și Asociații team advised D Moonshots

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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Bulboacă & Asociații to the third power

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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Advised by Bulboacă & Asociaţii law firm, EximBank acquires Banca Românească

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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B&A Event: Fire protection, essential for the safety of financial and real estate investments

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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Fire Protection - An Essential Asset For Our Safety

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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Lobbying in Romania: where to?

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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Receptionist Wanted

May 2017

For our office located in Bucharest, we are looking for a hands-on Receptionist, with main responsibilities:


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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B&A launches “The Romanian Matrix” Cultural Association

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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Legal Assistant Wanted

March 2017


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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Billing Coordinator Wanted

February 2017


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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Bulboacă & Asociații keeps its place in IFLR1000’s Tops

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.

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Bulboacă și Asociații to launch The Romanian Matrix

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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„How the fox fooled a bear” – performance supported by B&A

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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Bulboacă & Asociații to consolidate its tax consultancy practice

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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Bulboacă & Asociații to host the Re>patriot Gala

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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Adrian-Cătălin Bulboacă, at the 2016 Financial Year Conference

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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140 Years since Constantin Brâncuși's Birth

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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Ennoblement at Bulboacă & Asociații

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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166 Years Since Mihai Eminescu's Birth

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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Burning Issues - Dialogues by the Fireplace

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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Adrian-Cătălin Bulboacă spoke to young Romanians

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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Summer Music Academy Sinaia

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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Parsifal at The Bucharest Philharmonic

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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The new identity of Bulboacă & Asociații

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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The 4th AML Directive was transposed in Romania

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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Classification of a contract concluded between a company and its director – in light of the CJEU case-law

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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New rules on the establishment, organization and operation of pharmaceutical units

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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Crypto-assets and ICOs and the future EU Regulation

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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State aid: European Commission adopts Best Practices Code to streamline State aid control

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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Law for the application of the Regulation regarding data protection

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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Amendments to Law no 7/1996 regarding the Cadastre and Real Estate Publicity

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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Dividends can now be distributed also quarterly

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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Amendments for private services for emergency situations

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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Amendments to the urbanism law

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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Proposed changes to the legal regime of Romanian companies

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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Law on food waste reduction

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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Latest amendments to the construction and urbanism legislation

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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New amendments to the support scheme for renewables

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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Major amendments to the construction and urbanism legislation

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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Datio in solutum - novelty aspects

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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New impact regulations of the electricity market

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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Food waste reduction – the latest legal obligation of economic agents

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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Transforming NACP in an institution similar to the Competition

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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Draft Ordinance amending and supplementing Government Emergency Ordinance no. 77/1999 on measures to prevent payment default

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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Newly proposed procedure for works completion acceptance – highlights

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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New regulations on food marketing

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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Changes in the Form 088 "Affidavit for assessing intention and ability to carry out economic activities involving VAT taxable operations"

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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Suspending the employment contract, upon the employer’s initiative, throughout the disciplinary inquiry – declared unconstitutional

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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The European Account Preservation Order – what is it and how does it work?

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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Overview of the consumer litigation files

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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Recent Changes to Romania’s Competition Law

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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Future of ISDS in TTIP and beyond. Is now the time for reform?

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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