Rodica Manea | Lawyers Week

CMS assists National Bank of Greece with disposal of Romanian non-performing corporate loan portfolio (Project Danube)

27/05/202101/07/2021 JURIDICE.ro

International law firm CMS has assisted the National Bank of Greece (NBG) on completing the disposal of a Romanian-risk portfolio of non-performing and underperforming corporate loans (NPLs), with a total gross book value of approximately €174 million (€102 million of allocated… Read moreCMS assists National Bank of Greece with disposal of Romanian non-performing corporate loan portfolio (Project Danube)

Romania changes the conditions for submission of ultimate beneficial owner statement

04/05/202130/06/2021 Rodica Manea

On 27 April 2021, Law no. 101/2021 approving and amending Government Emergency Ordinance no. 111/2020 was published in the Romanian Official Gazette, amending Law no. 129/2019 on money laundering and terrorist financing and other specific legislation. Law 101/2020 came into… Read moreRomania changes the conditions for submission of ultimate beneficial owner statement

CMS: European M&A environment flips to ‘buyer-friendly’ in response to COVID-19

25/03/202102/07/2021 JURIDICE.ro

Europe has returned to a ‘buyer-friendly’ environment, after the COVID-19 pandemic created more risk-averse attitudes. As a result, CMS’ latest annual M&A study identified significant increase in liability caps, longer limitation periods and fewer locked box deals. The multi-year analysis… Read moreCMS: European M&A environment flips to ‘buyer-friendly’ in response to COVID-19

Romania government prohibited from selling shares in Romanian companies for two years

17/08/202017/08/2020 Rodica Manea

The Romanian parliament approved a law that stops any sale of shares owned by the Romanian state for the next two years. Given the current volatile economic outlook and in an effort to provide safety measures to keep the national… Read moreRomania government prohibited from selling shares in Romanian companies for two years

Romania simplifies registration formalities for ultimate beneficial owners

09/07/2020 Rodica Manea

In order to reduce the bureaucracy involved in the submission of the ultimate beneficial owner (UBO) statement with the Romanian Trade Registry pursuant to Law no 129/2019, transposing the 4th AML Directive (Directive (EU) 2015/849) of the European Parliament, the… Read moreRomania simplifies registration formalities for ultimate beneficial owners

Simplified requirements for incorporation of Romanian companies

06/07/202006/07/2020 Rodica Manea

On 2 July 2020, Romania published Law no. 102/2020 (“Law”), which removes certain barriers hindering the incorporation of Romanian companies. Aimed at improving the rating of Romania’s business in international directories, the Law eases incorporation requirements for Romanian limited liability… Read moreSimplified requirements for incorporation of Romanian companies

Romania amends insolvency law with start of state of alert

21/05/2020 Ana Radnev

On 18 May 2020, the same date that Romania switched to a state of alert that will expire on 17 June 2020, Law no. 55/2020 entered into force, which contains amendments to legal provisions for regular insolvency during the state… Read moreRomania amends insolvency law with start of state of alert

Romanian government adopts new Trade Registry rules

20/05/2020 Rodica Manea

With the 15 May end of the state of emergency and the switch to a 30-day state of alert, the Romanian government has released a new guidance that attempts to ease the effects of economic restrictions through measures that include… Read moreRomanian government adopts new Trade Registry rules

Romania adopts measures to allow shareholders and management meetings during COVID-19

13/05/2020 Rodica Manea

On 7 May 2020, the Romanian Government adopted Emergency Ordinance No. 62/2020 (“EO 62/2020”) which regulates certain measures on calling and holding general shareholders’ meetings (“GMS”) and management and supervisory board meetings during the COVID-19 pandemic. EO 62/2020 applies to… Read moreRomania adopts measures to allow shareholders and management meetings during COVID-19

4th Anti-Money Laundering Directive results in amendments to Romanian Companies Law

17/07/201917/07/2019 Rodica Manea

On 11 July 2019, the Law for preventing and combating money laundering and terrorist financing (the “Law”), which transposes the 4th Anti-Money Laundering Directive, Directive (EU) 2015/849, was promulgated by the Romanian President. The Law will come into force three… Read more4th Anti-Money Laundering Directive results in amendments to Romanian Companies Law