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Unlocking Corporate Deadlock: Controlling the Gamble

In the intricate tapestry of corporate governance, conflicts and disagreements are inevitable. However, when these tensions escalate to the point of impeding decision-making and paralysing the functioning of a company, they give rise to what is known as corporate deadlock. Our colleagues, Delia Dumitrescu and Carmen Peli, have published an extensive article on the causes and consequences of deadlock, as well as strategies to overcome it, on the IBA website.

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Carmen Peli at ZF Bankers 2024

Our colleague, Carmen Peli, Partner PeliPartners, successfully represented our firm at the ZF Bankers 2024 conference. Carmen was a panel speaker and she addressed key topics on the development of the insurance market with a focus on boosting bank lending.

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PeliPartners Assisted Mitiska REIM with Financing Its Newest Retail Park in Pitesti

PeliPartners assisted Mitiska REIM with financing its newest retail park in Pitesti in a EUR 19,000,000 development loan granted by Erste Group Bank AG, with Banca Comercială Română S.A. acting as security agent.

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Romanian Q&A Chapter for The Legal 500: Lending & Secured Finance Country Comparative Guide

PeliPartners is the exclusive contributor of the Romanian Q&A chapter for The Legal 500: Lending & Secured Finance Country Comparative Guide, which aims to provide a comprehensive overview of the lending and secured finance regulations across a variety of jurisdictions.

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Competition in Public Procurement Procedures and What Should Economic Operators Pay Attention To When Forming a Consortium

Our colleagues, Ionelia Anton and Catalina Burca-Andonie, explored the dynamics of public procurement strategies. They highlight the vital role of business collaboration in optimizing bidding processes from the competition rules perspective.

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Behavioural Advertising Used by Online Platforms under Scrutiny by the European Data Protection Board

Our colleague, Marc Barabas, has authored an insightful article shedding light on the latest guidelines from the European Data Protection Board regarding behavioural advertising.

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PeliPartners Assisted Hidroelectrica at the Closing of the Transaction with UCM Reșița

PeliPartners assisted Societatea de Producere a Energiei Electrice în Hidrocentrale Hidroelectrica at the closing of the transaction with respect to the business lines related to the ABC platform and Câlnicel platform, previously owned by UCM Reșița.

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Lessons for 2024

Francisc Peli Accepted Forbes Romania’s challenge to talk about lessons learnt in 2023 and the challenges of 2024 in the editorial project #lecțiipentru2024.

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PeliPartners Assisted Gymboland in the Divestment of a Majority Stake to Black Sed Fund

PeliPartners assisted Gymboland Group in relation to the divestment of a majority stake to Black Sea Fund, as well as in relation to the simultaneous implementation of a substantial investment from the fund.

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PeliPartners Assisted Hidroelectrica in the Acquisition of UCM Reșița

PeliPartners assisted Societatea de Producere a Energiei Electrice în Hidrocentrale Hidroelectrica in the acquisition process of the business lines related to the ABC platform and Câlnicel platform owned by UCM Reșița.

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PeliPartners Assisted Mitiska REIM in the Largest Real Estate Transaction of 2023 in Romania

PeliPartners assisted Mitiska REIM in the largest real estate transaction of 2023 in Romania and one of the largest in the CEE – the sale of its 25 retail parks in Romania to LCP Group, part of M Core.

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PeliPartners Assisted Mitsubishi Chemical Group in the Transfer of Shares of Qualicaps to Roquette Frères

PeliPartners assisted Mitsubishi Chemical Group in the transfer of shares of Qualicaps, a company in the pharmaceutical industry that supplies capsules and pharmaceutical manufacturing equipment, to Roquette Frères, a world leader in the field of plant ingredients.

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Transparency, a Key Element for Protecting Consumer Rights

Our colleague Catalina Burca-Andonie looked into the particular attention economic operators should pay to the transparency requirements laid down in the consumer protection legislation.

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ZF Bankers Summit 2023

Carmen Peli attended the first day of debates at the ZF Bankers Summit 2023, in a discussion on the corporate financing market.

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Impact of Algorithms on Competition

Our colleague Oana Bucsa talked about the impact of algorithms on competition in the newest PeliPartners analysis.

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Urbanism Code Draft: New Rules for Initiating Zonal Urban Plans (PUZs) by Private Investors

Our colleague Ioana Waszkiewicz has analysed the proposed procedure for initiating zonal urban plans (PUZs) by private investors, whether individuals or legal entities. The procedure is subject to a major reform in the draft Urbanism Code currently under parliamentary debate.

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The draft Urbanism Code – the Major Reforms regarding the Building Permits Require Legislative Accuracy

The proposed reforms regarding the Code of land planning, urbanism, and constructions – the Urbanism Code – are substantial and potentially useful. However, for successfully implementing such reforms, additional legal accuracy is required, according to an analysis by the law firm PeliPartners.

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Key Amendments to the Legal Framework related to the Construction Works for Renewable Energy Projects

Our colleague Madalina Fildan (Senior Associate) analysed the key amendments to the legal framework related to the construction works for renewable energy projects, as per the Constructions Law no. 50/1991 and the Land Law no. 18/1991.

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Key Changes in 2022 on the Legal Conditions for Extending the Validity Period of Building Permits

Our colleague Ioana Waszkiewicz (Senior Associate) looked into the key changes in 2022 on the legal conditions for extending the validity period of building permits, as per the Construction Law no. 50/1991.

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Three 2022 Key Legislative Changes for Companies on Competition Responsibilities

Our colleagues, Oana Bucsa (Senior Associate) and Catalina Burca-Andonie (Associate), tackle the 2022 key legislative changes in a new article on competition law compliance and additional responsibilities for companies.

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PeliPartners Analysis: 2022, Romania and the Opportunity of Investment in Green Energy

Our colleague Madalina Fildan has published in Financial Intelligence a comprehensive analysis on the 2022 Romanian renewable energy market.

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Lessons for 2023

Forbes Romania has invited Francisc Peli to discuss about the lessons learned and the experiences 2022 brought, as well as about the challenges in 2023, as part of the #lecțiipentru2023 programe.

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PeliPartners Assisted Forte Partners Group in the Sale of U Center 1 to Pavăl Holding

PeliPartners assisted Forte Partners Group in the sale of U Center 1, one of the most important real estate transactions of 2022 in Romania, towards Pavăl Holding, the investment vehicle owned by Dedeman's founders.

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The Ultimate Beneficial Owner – Between Business and the Legal Constrains

Our colleagues Carmen Peli and Adelina Iordache explain the rules regarding the identification of the beneficial owner which are meant to help prevent and fight against money laundering and terrorism financing, in an opinion article published by Ziarul Financiar.

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PeliPartners Lawyers on Competition Rules in Sustainability-Related Projects

Our colleagues Oana Bucsa and Veronica Bulmez explained why competition rules should be considered even when we talk about sustainability-related projects.

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Squeeze-out of Dormant Shareholders

Founding shareholders should consider squeeze-out mechanisms from the set-up of the company, in order to prevent further activity deadlock situations, explain PeliPartners lawyers Carmen Peli, Partner and Head of Corporate M&A, and Adelina Iordache, Corporate M&A Associate.

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PeliPartners Assisted WDP in the Acquisition of Arad Business Park

PeliPartners assisted WDP in the acquisition of Arad Business Park, with an area of 42,000 sqm logistics centre in Arad, in a business transfer deal. The law firm provided legal assistance throughout the entire process, including in the due diligence analysis and in the negotiation and execution of the transaction documents.

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PeliPartners Assisted GTC in the Sale of Cascade Office Building to Crown Holding

PeliPartners assisted GTC, one of the leading commercial real estate companies in CEE region developing high standard, modern office and retails properties, in the process of selling the A-class Cascade Office Building, one of the landmark office buildings in central Bucharest, previously acquired by GTC in 2017. The divestment was implemented through a share deal concluded with Hungarian Crown Holding Kft., a real estate investment company active on the Hungarian and Romanian real estate market.

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Office with a View

Our Managing Partner Francisc Peli talks about the importance of the office for the wellbeing of a team spending many hours together and the influence of the view on the efficiency and inspiration of the lawyers.

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Urbanism in Bucharest – Three Legal Points

Our colleague Oana Badarau points out three legal aspects to be considered in the context of the recent statements of the Mayor of Bucharest Nicusor Dan in an interview with HotNews. He states that the reason none of the Zonal Urban Plans (PUZ) promoted by investors have been submitted for debate with the General Council is to protect public interest.

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Carmen Peli at ZF Bankers Summit 2022

Carmen Peli was a speaker at the 11th edition of ZF Bankers Summit, discussing about banking institutions facing a new challenge: the explosive rise of prices for raw materials, inflation increase, booming interest rates, major economical tensions, stressed business and higher risks.

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PeliPartners assisted UNSAR in annulment of RCC sanctioning decision

PeliPartners assisted UNSAR, the National Association of Insurance and Reinsurance Companies in Romania, in the court proceedings resulting in the annulment of the decision of Romanian Competition Council sanctioning the association for an alleged participation as facilitator in a concerted practice on the insurance market.

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PeliPartners assisted Portland Trust in the sale of Expo Business Park to S Immo

PeliPartners assisted Portland Trust, the investment fund having ARES Management and Bluehouse as equity partners, in the process of selling the Expo Business Park to S Immo. The divestment of the office buildings complex summing 41,500 square meters leasable area was completed at the end of May.

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Prospects for the Romanian Real Estate Market

Our colleague, Francisc Peli, presents the latest evolution and prospects for the Romanian real estate market, with a glimpse of the extended regional framework.

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Regulations Regarding Energy Storage Are Essential, Even for the Incipient Projects

Our colleague, Madalina Fildan, talked in an interview for Ziarul Financiar about the difficulties faced by the renewable energy sector in Romania, and explained what solutions the energy field may have to properly develop in our country.

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Crowdfunding Requires Internal Regulation in Romania to Become Available

Our colleague, Andreea Carare, explains the legal difficulties that the investors and businesses looking for financing may face and how they may be handled.

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Dealing with Issues Regarding Bucharest Building Permits. Material Adverse Effect on Business

The suspension of several Zonal Urban Plans in Bucharest has had a major impact on new developments. Our colleague, Oana Badarau, has identified three possible solutions to solve building permitting in Bucharest.

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PeliPartners Advises Anchor Grup on Receiving EUR 80 Million Loan from Banca Transilvania

PeliPartners has advised Anchor Grup, a company specialized in retail, residential, and office developments, active since 1997 in real estate development in Eastern Europe, on receiving an EUR 80 million loan from Banca Transilvania.

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Relocation of Activity – The Path from Fleeing the War to Saving Your Business

Food for thought: Our colleague Adelina Iordache points out some of the challenges companies might face when relocating an Ukrainian business to Romania.

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PeliPartners assisted Portland Trust in relation to the Sale of the Largest Photovoltaic Park under Development in Romania

PeliPartners assisted Portland Trust in the sale process of the largest park of photovoltaic panels under development in Romania, with an authorised production capacity of over 153 MW and an estimated total area of over 165 ha, located in Rătești, Argeș County, to Econergy and Nofar Energy. The process is structured as a share deal transaction, and the closing is envisaged to occur by the end of October 2021.

„We are very much looking forward to working with Econergy and Nofar Energy to bring this project to fruition and make a significant contribution to renewable energy generation in Romania” said Timothy Duffill, the representative of Portland Trust.

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PeliPartners Assisted Scallier with the Acquisition of a New Retail Park in Timișoara

PeliPartners assisted the Polish developer Scallier with respect to the acquisition of a retail project in Timisoara by means of a business transfer from Oasis group, to be further operated under the brand "FunShop Park".

"We are glad that we were involved in this transaction and that we are assisting Scallier with the extension of its retail parks portfolio in Romania. The retail sector is constantly growing and developing.” said Francisc Peli, Managing Partner at PeliPartners.

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PeliPartners assisted Skanska in the Sale of Campus 6.2 and Campus 6.3 Office Buildings to S IMMO in a Transaction of EUR 97 Million

PeliPartners assisted Skanska in the process of selling the office buildings 6.2 and 6.3 in Campus 6 Bucharest to S IMMO AG, the Swedish developer's largest transaction on the local market, amounting to EUR 97 million.

The sale agreement for the two 11-storey A Class buildings with a total area of 38,000 square meters was signed in December 2020, but the deal was closed in June 2021.

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PeliPartners contributes the Romanian chapter to the international Merger Filing Guide at Mergerfiles.com

The Romanian chapter of Mergerfilers.com provides an up-to-date merger control guide covering the 50 most central topics. Mergerfilers.com provides an up-to-date merger control guide, including a "traffic light system" indicating any pending changes of regulations.

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PeliPartners Assisted Skanska in the Sale of Two More Buildings within the Campus 6 Complex in Bucharest, in a 97 Million Euros Transaction

PeliPartners assisted the Swedish real estate developer Skanska in the sale of buildings 6.2 and 6.3 within the Campus 6 office complex near the Bucharest Polytechnic, to the Austrian real estate fund S Immo AG, in a EUR 97 million transaction. Campus 6.2 and 6.3 have an aggregate leasable area of approximately 38,000 sqm.

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PeliPartners Assisted Jupiter Group in the Sale of Jupiter City Shopping Center to Supernova

PeliPartners assisted Jupiter Group, an international developer, active on the Romanian real estate market for over a decade, in the sale to Supernova Group, an Austrian private real estate company, focused on the CEE retail sector, of Jupiter City Shopping Center, by way of a business transfer. Opened in 2008, Jupiter City Shopping Center is a landmark retail center in Pitesti, having a gross leasable area of approx. 45,000 sq. m, developed on over 17 hectares.

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New Regulations on Remote Working and Personnel Scheduling

On 6 November 2020, two new regulations impacting employment relationships in the context of the state of alert were published in the Official Gazette: Government Emergency Ordinance no. 192/2020 amending and supplementing Law no. 55/2020 on certain measures for preventing and combating the effects of the COVID-19 pandemic, as well as for amending letter a) of article 7 of Law no. 81/2018 on the regulation of teleworking (“GEO 192/2020”); and Government Decision no. 935/2020 on amending and supplementing annexes no. 2 and 3 to Government Decision no. 856/2020 on the extension of the state of alert on the Romanian territory starting with 15 October 2020, as well as for establishing the applicable measures for preventing and combating the effects of the COVID-19 pandemic during the state of alert period (“GD 935/2020”).

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New Rules for Online Intermediation Services

On 12 July 2020 a new piece of legislation came into force, respectively Regulation (EU) 2019/1150 on promoting fairness and transparency for business users of online intermediation services (Regulation 2019/1150). The aim of the Regulation is to ensure the fair and transparent treatment of business users by online platforms.

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Legal Alert - Changes regarding the Fire and Civil Protection Endorsements and Permits

New rules regarding the issuance of fire and civil protection endorsements and permits will be applicable from 7 June 2020. The new provisions were enacted under Order no. 66/2020 of the Ministry of Internal Affairs, published in Official Gazette no. 370 of 8 May 2020, which amends the Methodological norms regarding the fire and civil protection endorsements and permits, approved by Order no. 129/2016 of the Ministry of Internal Affairs. The amendments will enter into force 30 days after the order is published with the Official Gazette.

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Pricing Algorithms

Companies are increasingly using algorithms to improve their price structures, to size their production or distribution at market demand or to forecast its trends. Their use often occurs in markets where:

• the costs of providing services to consumers vary considerably (for example, in terms of loans or insurance),

• demand fluctuates much faster than the supply (for example, for hotel or ridesharing services), or

• companies have a wide range of products for which they need to determine prices, and price algorithms bring significant cost advantages (for example, in retail).

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Rescue and Restructuring Aid for Companies in Financial Difficulty: Case Studies

Two recent decisions announced by the European Commission on February 24, place Romania in the position to recover over EUR 583 million plus interest as incompatible state aid granted to CFR Marfa, respectively to the National Uranium Company.

The European Commission found that the railway transport operator CFR Marfă received at least EUR 570 million incompatible state aid from Romania, through a debt write-off and failure to collect debts from the company.

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