Bucharest, November 6th, 2015 – Muşat & Asociaţii successfully initiated the insolvency proceedings of Asesoft International, one of the most important companies in the IT sector, with a turnover of over RON 100 million, for a debt resulting from a contract between professionals.
Within this litigation, pending before the court ever since August 2014, Muşat & Asociaţii represented Transas Marine International, a Swedish top company specialized in the delivery and installation of high-tech technology, software applications, integrated solutions and services for the maritime industry. The litigation involved an extensive analysis of the contractual relations existing between the parties and the request of complex evidence.
“One of the challenges in this file was to prove that Asesoft was in a state of insolvency, whereby Transas paid including a significant security in order to eliminate any possible suspicions of unreasonably filing the motion for initiating the proceedings. After approximately one year and a half of representation before the syndic judge, Muşat & Asociaţii team obtained a favourable decision for the client, establishing that the conditions imposed by Law no. 85/2014 are met for ordering the initiation of the insolvency proceedings of Asesoft International”, stated Mihai Popa, Partner.
Muşat & Asociaţii team was coordinated by Mihai Popa, Partner involved in a large number of restructuring, reorganization or liquidation proceedings regarding trading companies in different business sectors such as the pharmaceutical industry, real estate, maritime technology, transport or constructions, and included other 3 lawyers with experience in litigation, insolvency proceedings and debt recovery.
About MUŞAT & ASOCIAŢII
MUŞAT & ASOCIAŢII is one of the first law firms established in Romania after January 1, 1990. With 19 partners and over 100 attorneys and advisors, MUŞAT & ASOCIAŢII provides legal advisory services in all areas of business law, including Mergers & Acquisitions, Privatization, Banking, Energy & Natural Resources, Competition, Corporate, Telecommunications & IT, Labor, Fiscal, Capital Markets, Real Estate, Environmental, Litigations & Commercial Arbitrations.
Renowned as one of the pillars of business law practice in Romania, MUŞAT & ASOCIAŢII is constantly recommended by the international legal guides and publications (such as Chambers & Partners, International Financial Law Review, Legal 500, etc.) as a leading law firm in Romania, many of its attorneys being, in their turn, nominated by these publications among the elite of business law in Romania.
In 2015, MUŞAT & ASOCIAŢII won the prestigious “Law Firm of the Year in Romania” award, a distinction handed out annually by the reputed British publisher “The Lawyer” to European law firms with outstanding achievements in the reference year.
In april 2013, MUŞAT & ASOCIAŢII won the „The Law Firm of the Year in Romania” award granted by the International Financial Law Review (IFLR) during the IFLR European Awards ceremony, held in London, in the presence of more than 200 representatives of the leading European law firms. This is the second time in the past three years that Muşat & Asociaţii is granted this prestigious award, after the distinction received in 2011, when Romania was included for the first time on the list of countries nominated for the International Financial Law Review (IFLR) awards.
In 2012, MUŞAT & ASOCIAŢII won the Gold Award for “Best Law Firm in Central and Eastern Europe”, an accolade awarded by the 2012 International Legal Alliance Summit & Awards, for excellent results obtained on the Romanian market by the MUŞAT & ASOCIAŢII team, both with regard to the mandates portfolio in the Mergers & Acquisitions area of practice, and to the management strategy adopted.
Furthermore, the renowned publication Chambers Europe awarded the trophy “Romanian Law Firm of the Year” to MUŞAT & ASOCIAŢII for being the law firm with the best performance in the course of last year in Romania, in the ceremony “Chambers Europe Awards for Excellence 2011”.
MUSAT & ASOCIATII regularly provides legal advisory services to many of the most renowned and valued corporations in Romania, including a third of the Top 100 and half of the Top 500 largest companies, as well as to local public and financial institutions in intricate corporate and financial transactions and complex dispute resolution procedures. The company’s portfolio comprises over 2,500 clients, most of which are foreign investors.