Musat & Asociatii advised tech giant Google LLC (Google) on all Romanian legal aspects of its acquisition of Fitbit for a total equity value of approximately USD 2.1 billion. Founded 13 years ago, Fitbit is currently one of the leading producers of smart health and fitness wearable devices, with more than 29 million active users…
Musat & Asociații’s Partner Monia Dobrescu has been named as one of 2021’s IFLR1000 Women Leaders, IFLR1000’s yearly guide to the leading women lawyers in the world, working in financial and corporate law. This year’s edition features an elite group of more than 750 women lawyers across EMEA, Asia-Pacific and the Americas. According to IFLR, this is…
Banking Partner Monia Dobrescu writes about concepts of “Credit Institution” and “Bank”— Credit institution and the general procedure for the authorization of banks in Romania, in Thomson Reuters’ April 2020 edition of International Banking Law and Regulation, Romanian law chapter. You can read more HERE Reprinted from International Banking Law and Regulation (April 2020 update) with permission. Copyright…
Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Ordonanța de urgență nr. 69/2020 prin care Guvernul acordă bonificații pentru plata unor obligații fiscale, prorogă unele termene, precum și alte măsuri…
Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Autori: Mihai Popa, Deputy Managing Partener și Cristi Tudor, Managing Consultant Nu este o noutate faptul că pandemia COVID-19 își face resimțit…
Starting with 15th of May 2020, the state of emergency was replaced with the state of alert in Romania. Therefore, while the legislative context in continuous change is still imposing protective measures, the Romanian Government is looking to gradually relax the lockdown measures. 1. Measures impacting employment relationships (i) Employees must consent for telework.…
In the Official Gazette no. 319 dated 16 April 2020, the Emergency Government Ordinance no. 48/2020 on certain fiscal and financial measures was published, which provides new clarifications and tax facilities. In the following, we will present a short summary of the most important measures implemented through the legislative act: I. Extension of the deadline…
Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Autori: Mihai Popa, Deputy Managing Partner și Diana Dobromir, Senior Associate Epidemia cauzată de coronavirus a provocat tulburări majore pentru economia…
On 21 April, within its Plenary Session, the European Data Protection Board (EDPB) adopted two essential guidelines on the major data processing activities performed in the context of the Covid-19 pandemic: Guidelines 04/2020 on the use of location data and contact tracing tools in the context of the COVID-19 outbreak (Guidelines 04/2020) and Guidelines 03/2020…
On 14 April, the European Data Protection Board (EDPB) published a letter providing advice on the draft Guidance on apps supporting the fight against COVID-19 pandemic, released by the European Commission. Contact tracing apps aim to keep track of the spread of the virus and inform users when they came in contact with a person…
Covid-19: Economic measures covering the banking and financial sector. Facilities in relation to loans granted by credit institutions and non-banking financial institutions to certain categories of borrowers The National Bank of Romania (the “NBR”) issued a press release on 24 March 2020, pursuant to which the current regulations allow the borrowers, banking and non-banking institutions,…
According to Law no. 129/2019 for the prevention and combating of money laundering and terrorism financing, as well as for the amendment and completion of some normative acts (“Law 129/2019“), companies have the obligation to submit, at the moment of registration, annually or whenever a change occurs, a statement regarding the actual beneficial owner of…
Through the Military Ordinance no. 8/2020 published in the Official Gazette no. 301 on 10th of April, 2020, there were instituted a new series of measures to prevent the spread of COVID-19, which directly envisage certain categories of workers and/or professionals, as presented below. (i) Exceptions from the circulation restriction during the emergency state…
In the context of the COVID-19 epidemic, the Government of Romania has come to support its citizens and public institutions, through the Authority for Digitalization of Romania, in partnership with Aurachain, the Association for Advanced Technologies – ATA, BitHat Solutions and Telekom Romania by launching a digital platform, namely “https://aici.gov.ro/”. The objective of the newly…
As the new Coronavirus continues to threaten our lives, the nation-wide heavy restrictions continue to disrupt our livelihoods and businesses need to address the economic challenges they face: significant pressure on their workforce, business partners, supply chains, revenues. As part of the Romanian’s Government plan to aid heavily hit businesses during the economic near shutdown,…
Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. În Monitorul Oficial nr. 285/06.04.2020, Guvernul a publicat H.G. nr. 270/02.04.2020 prin care a aprobat normele de aplicare a prevederilor OUG nr.…
In order to stimulate the payment of the outstanding fiscal obligations and taking into account the need to provide medicines, protective equipment, other medical devices or equipment and sanitary materials that can be used to prevent, limit, treat and combat COVID-19, the Romanian Government has adopted the Government Emergency Ordinance no. 33 from 26.03.2020 regarding…
Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Guvernul a adoptat Ordonanta de Urgență nr. 37/2020, publicată în Monitorul Oficial, Partea I nr. 261 din 30 martie 2020, aceasta intrând…
Consumer protection authorities are on high alert: Companies under intense scrutiny on pricing issues As consumer demand for various products increases, fueled by the Coronavirus outbreak, so could prices. The National Authority for Consumer Protection stressed that they are closely monitoring the Romanian market and that they created special teams to prevent any actions that…
1. Urgent legal measures requiring enforcement in the construction field Having in view the constraints and economic implications expected to affect the construction field as a result of the current COVID-19 pandemic crisis, the Employers’ Federation of Building Companies – FPSC – has requested the Romanian Government to undertake urgent legal measures for the benefit…
CORONAVIRUS: CERTIFICATES REGARDING THE STATE OF EMERGENCY. HOW CAN COMPANIES OBTAIN THEM? In these unprecedented, difficult times, the Romanian Government and businesses are working together to address the economic challenges of the strict containment restrictions put in place to limit the spread of the Coronavirus. As part of the Government plan, the Ministry of…
Coronavirus: Government aids small and medium enterprises (SMEs) with multiannual program According to the Government Emergency Ordinance no. 29/2020 regarding certain economic and fiscal-budgetary measures, the Ministry of Public Finance will implement a multi-annual program for supporting the SMEs in order to mitigate the effects of the COVID – 19 spread, by guaranteeing loans and…
In the context of the crisis generated by the COVID-19 global widespread, the European Data Protection Board (EDPB) has published a Statement on the processing of personal data in the context of the COVID-19 outbreak, which may be accessed here. The main guidelines the Board established refer to the following aspects: data controllers shall continue…
Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Activitatea multor operatori economici este afectată în contextul pandemiei SARS-CoV-2. Conform prevederilor unei noi Hotarari de Guvern, acestora li se pot elibera,…
Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. București, 12 martie 2020 Dată fiind rapiditatea răspândirii virusului COVID-19 inclusiv în România, este important ca profesioniștii locali să aibă în vedere…
Leading Romanian law firm Mușat & Asociații acted as legal counsel to the European Bank for Reconstruction and Development (EBRD) on a Euro 16 million facility granted to TeraPlast Group, one of the leading Romanian producers of materials for installation, construction and design markets. The senior loans granted by EBRD will finance the implementation of…
Bucharest, 21 January 2020 Mușat & Asociații announces the promotion of nine lawyers across the firm’s Mergers & Acquisitions, Healthcare & Pharma, Taxation and Litigation & Arbitration practice areas, effective as of January 2020. The promotions come as a recognition of their constant contribution to the success of the projects they advised on and of…
Iulian Popescu, Deputy Managing Partner and head of Musat & Asociatii’s Energy & Natural Resources practice, spoke at the Power & Energy Tech Exhibition and Conference Vision 2030 – PETEC 2019 on 2 December 2019. The role of natural gas and renewables in a fast-evolving energy market towards achieving the 2030 Agenda and the Sustainable Development Goals was the main theme…