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2019 Romania - Call for Petroleum Blocks Tender. A Breath of Fresh Air?
Nestor Nestor Diculescu Kingston Petersen, August 2019

In a country with a significant number of mature fields and few discoveries made and/or developed in the last years, the Romanian National Authority for Mineral Resources has recently launched a public call for tender for the concession of 28 exploration, development and exploitation petroleum blocks, both onshore and offshore (Licensing Round XI/2019)...

A GDPR Perspective on Scientific Research in Times of a Pandemic
Nestor Nestor Diculescu Kingston Petersen, April 2020

The current global climate has changed the manner in which we socialize, work and engage even in the simplest activities. We had to quickly adapt to speaking with our friends over video calls, working primarily from home and going out of the house to the most limited extent possible, generally only to conduct essential activities, as defined by the public authorities...

A Growing Practice for Leveraged Acquisition and Certain Related Corporate Constraints
Nestor Nestor Diculescu Kingston Petersen, May 2007

Romania¡¦s yearly economic growth has triggered in the past few years an increased interest for investment in the existing domestic companies. Most of the financial investors seek to leverage their acquisitions and expect the possibility to use the target companies¡¦ assets to such purpose. This article will briefly review corporate limits and prevailing interpretation.Prohibition of financial assistanceRomania has implemented the provisions of art...

A New Wave of Insolvencies? Possible Preventive Restructuring Measures in the Implementation of the European Directive on Preventive Restructuring
Nestor Nestor Diculescu Kingston Petersen, April 2020

This legal analysis focuses on the typical case of a company that although it is not directly targeted by the measures established in order to prevent the spreading of the novel coronavirus, it still registers a decrease of demand, of the level of proceeds and of the production of goods and services...

Amendments in the Field of Construction and Infrastructure Projects in Romania
Nestor Nestor Diculescu Kingston Petersen, September 2018

The beginning of 2018 has brought certain amendments in the field of construction and infrastructure projects in Romania, by means of a new enactment which shivered the contractors' professional life who were used to the FIDIC provisions until this moment. The Government Decision no. 1/10.01.2018 (the “GD no...

An analysis of certain atypical, but predictable situations in the field of contractual liability. When can a framework agreement give rise to contractual liability?
Nestor Nestor Diculescu Kingston Petersen, May 2018

“The framework agreement is an agreement whereby the contracting parties define and establish the main rules and conditions that will govern future agreements that will be concluded between them and that are called agreements “for the application” or “for the enforcement” of the framework agreement.” (High Court of Cassation and Justice Decision n0...

Arbitration in the Time of COVID-19. The Romanian Perspective
Nestor Nestor Diculescu Kingston Petersen, March 2020

Amid the spread of COVID-19, the Romanian President decreed a state of national emergency in Romania, with express measures to be taken in the justice system. Although the Decree does not refer to arbitration, the state of national emergency and the need of social distancing inevitably impact it as well...

Aspects of Immediate Interest Concerning the Adjudication of Civil Lawsuits During the State of Emergency
Nestor Nestor Diculescu Kingston Petersen, March 2020

We have already entered a state of emergency pursuant to the Decree issued by the President of Romania imposing a state of emergency on the territory of Romania, published in the Official Gazette Part I no. 212 on March 16th, 2020 (the “Decree”), and we can already see the changes and reactions triggered by this situation. The state of emergency proclaimed for a period of 30 days starting from March 16th, 2020 has a far-reaching impact in all domains...

Building Permit in Romania
Nestor Nestor Diculescu Kingston Petersen, January 2007

1 When Do We Need a Building Permit?As a rule, the construction of or any structural alterations to any building situated on theRomanian territory requires a building permit. Few are the contexts where this rule is notapplicable. These situations usually refer to the repairing and maintenance works to the existingbuildings, which do not involve changes in the initial features of the buildings...

Cartels Regulation – Romania Chapter
Nestor Nestor Diculescu Kingston Petersen, January 2007

Legislation and jurisdiction1. What is the relevant legislation and who enforces it?Competition is regulated under Competition Law no. 21/1996, as subsequently amended andsupplemented (the Competition Law), and under Competition Council regulations andguidelines. The Romanian competition legislation generally follows the provisions of EuropeanCommunity legislation...

Certificates for Emergency Situations
Nestor Nestor Diculescu Kingston Petersen, March 2020

The awaited regulation by the Ministry of Economy, Energy and Business Environment on issuance of the Certificate for emergency situations (“CES”) has been adopted through Order 791/2020 relating to the granting of emergency certificates to the economic operators whose activity is affected in the context of SARS-CoV-2 pandemic published on 25 March...

CJEU Guidance in Merger Cases: Qualification of a Measure as Gun-Jumping Requires Contribution to a Lasting Change in Control of the Target
Nestor Nestor Diculescu Kingston Petersen, June 2018

How to strike the right balance between (i) the business need to take preparatory steps in view of integrating the target in M&A deals and (ii) the legal requirement to comply with the standstill obligation under merger control rules?...

Comments on the Envisaged Measures Regarding Companies Corporate Governance
Nestor Nestor Diculescu Kingston Petersen, April 2020

On 14 April 2020 the Romanian Ministry of Justice published a new draft emergency government ordinance on certain measures regarding the holding of general meetings of shareholders and meetings of the management bodies (the “EGO”). Such EGO is intended to ease the holding of such meetings in the context of the restrictions applicable during the state of emergency...

Consider Getting an Electronic Signature if You Do Not Already Have One
Nestor Nestor Diculescu Kingston Petersen, March 2020

As Coronavirus SARS-CoV-2 continues to spread, the general advice from Governments around the world is to avoid any contact with others as much as possible. In this context, we feel that organizations would most benefit from implementing electronic signatures in order to keep their activity going during this unfortunate state of play. Electronic signatures in Romania are mainly governed by the EU Regulation no...

Continuing the business under State of Emergency – interacting with the Trade Registry
Nestor Nestor Diculescu Kingston Petersen, March 2020

The 30-day state of emergency was proclaimed by the President of Romania, in the context of the COVID – 19 outbreak in Romania. The Decree no. 195/2020 (the “Decree”) instituting such state of emergency is effective as of 16 March 2020 and substantially impacts not only the day-to-day life, but the businesses too...

Coronavirus: Stay Healthy and be GDPR Compliant
Nestor Nestor Diculescu Kingston Petersen, March 2020

In the past months, coronavirus disease (COVID-19) outbreak has been a major topic of interest worldwide and continues to be a source of concern for all businesses across industries. Among the significant disruptions brought to the global economy, COVID-19 has a direct impact on the workplace. Various companies have already struggled to find out solutions to mitigate risks related to COVID-19 and to ensure business continuity...

Corporate Governance and Registration with the Romanian Trade Registry During COVID – 19 – Emergency Kit Required
Nestor Nestor Diculescu Kingston Petersen, April 2020

As of 16 March, the day when the state of emergency was declared in Romania, the Government has adopted an impressive number of pieces of legislation aimed at preventing and limiting the spread of the new coronavirus, on one hand, and at reducing the negative impact on economy of the implemented solutions, on the other hand. To be specific, we are talking about 75 acts (primary and secondary legislation) adopted in the course of approximately 1 month...

Data Security Matters, Even When Working from Home! – Potential Risks and Key Tips
Nestor Nestor Diculescu Kingston Petersen, March 2020

The COVID-19 pandemic is determining more and more businesses to “put the lock” on their offices. This means that a large number of employees all over the world have already been forced to set their homes as comfortable as possible to ensure an appropriate work environment...

Doing Business In Romania 2008
Nestor Nestor Diculescu Kingston Petersen, February 2008

Legal system1. What is the legal system (civil law, common law or a mixture of both)?Romania has a civil law system.Foreign investment2. Are there any restrictions on foreign investment (including authorisations required by central or local government)? There are only a few restrictions on foreign investment. For example, foreign persons cannot acquire land, subject to a limited number of conditional exceptions. 3...

Draft Order of ANRE for the Application of GEO 114/2018
Nestor Nestor Diculescu Kingston Petersen, February 2019

On December 29, 2018, Government Emergency Ordinance No. 114/2018 on the establishment of measures in the field of public investments and of fiscal – budgetary measures, the amendment and completion of certain normative acts and the extension of certain deadlines (“GEO 114/2018”) was published in the Official Gazette...

Emission Trading Scheme in the Times of COVID-19 Lockdown
Nestor Nestor Diculescu Kingston Petersen, April 2020

In the midst of the COVID-19 waves, the EU Commission rejected the delay proposals on the Emission Trading Scheme (ETS)’s mandatory annual deadlines...

Financial Relief for Media and Telecom Players
Nestor Nestor Diculescu Kingston Petersen, May 2020

As a result of the evolution of the international epidemiological situation determined by the spread of SARS-CoV-2 coronavirus and considering the state of emergency declared by Decree no. 195/2020 on the establishment of the state of emergency on the territory of Romania, as well as its extension by Decree no. 240/2020 regarding the extension of the state of emergency on the territory of Romania, the Romanian Government recently issued the Emergency Ordinance no...

Foreign Investments from Third Countries. A Change in the European Optics?
Nestor Nestor Diculescu Kingston Petersen, April 2020

The Covid-19 pandemic situation has emerged as more than just a healthcare crisis. Accordingly, the focus is to address and anticipate at the same time the economic and social implications which are still at an early stage. What we are rapidly starting to acknowledge is that the circumstances created by the pandemic have revealed legislative gaps and vulnerabilities, which need to be addressed in order to avoid further negative impacts to the extent possible...

Gambling - An Industry of Adrenaline
Nestor Nestor Diculescu Kingston Petersen, June 2016

Since at the end of this month, specifically on 30 June 2016, the first interim rights to operate remote gambling, granted by NGO, will expire, we expect to see the first licenses (Class I) and the authorizations to operate and exploit remote gambling in Romania entering into force on 1st of July 2016...

Highlights of the Upcoming Company Law Amendments
Nestor Nestor Diculescu Kingston Petersen, November 2006

The article was first published in Invest Romania, November 2006 issue.The Bill for amending Company Law no. 31/1990 as subsequently modified,supplemented and republished (the “Company Law Bill”) was approved by the Senate on 30August 2006 and is currently at the Chamber of Deputies commissions undergoing a fast-trackapproval process...

 

 

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