Banking & Finance – Band 3
THE FIRM This correspondent firm of PwC is praised by clients for its network support and tax expertise. Sources also highlight its members’ skills, experience and stability, and appreciate the team’s proactive and high-quality service. The team recently advised EOS KSI on a finance restructuring, and acted for BRD Finance IFN on its settlement process.
Sources say: “In the last part of the project, one of D&B’s team was located in our headquarters, which brought a big improvement in the project team’s efficiency.”
KEY INDIVIDUALS Laura Toncescu heads the practice and is widely praised by clients for her technical background and customer-oriented approach.
Competition/Antitrust – Band 1
THE FIRM This six-strong team remains one of the leading competition practices in Romania, representing several prominent multinationals in a broad range of competition issues. The firm assisted key client Orange with several files before the Competition Council, in addition to various internal projects. It has also been advising leading domestic food producer Caroli Food Group on issues pertaining to a strategic joint venture.
Sources say: “This firm manages situations very smoothly.”
KEY INDIVIDUALS Sources unanimously praise practice head Sorin David, describing him as a “star” and highlighting his “tremendous experience.” He is also a renowned professor at the University of Bucharest.
Manuela Guia handles both state aid and antitrust issues, and is admired for her robust knowledge of both Romanian and European law.
Up-and-comer Catalin Suliman wins plaudits for his expert competition advice. Observers see him as “knowledgeable on competition law and very promising for the future.”
Corporate/M&A – Band 3
THE FIRM As the partner firm of PwC in Romania, this group has an important international link. It is renowned for its competition and antitrust law expertise, which sources confirm feeds a healthy corporate practice. A significant recent transaction was the firm’s work for Caroli Foods in its strategic joint venture with Campofrio Food Group. Additionally, it advised Turkven Private Equity on its sale of 96% of Provus. The firm also provides ongoing corporate governance support to Samson International Holding.
Sources say: “The advice is practical and realistic. The firm is constructive, flexible and open to discussing different ways to approach a subject. The team knows our business well and anticipates our needs, even when we forget them ourselves.”
KEY INDIVIDUALS Sorin David is the firm’s managing partner, whose long experience of corporate law gives him gravitas, and whose expertise in the field of competition and antitrust is well known. Anda Rojanschi is the corporate/M&A partner managing the department, who clients note “always finds time to provide a quick, detailed response, no matter how short-notice.” Carmen Medar is a managing associate with a particular expertise in labour and employment matters, which makes her a valuable addition to the corporate/M&A team.
Employment – Band 2
THE FIRM Recently, the group assisted AXA Life Insurance with its restructuring and litigation procedures, and was instructed by Panasonic on a Europe-wide transfer of activity. Other clients include Banca Comercială Română, JT International and Actavis.
Sources say: “The opinions are well elaborated and structured, professional and accurate.” “The approach is very personal and friendly, and the team is flexible.”
KEY INDIVIDUALS Dan Dascalu is widely praised for his experience in helping employers deal with disputes, especially relating to unions. Clients appreciate his client-focused service.
Carmen Medar’s practice centres on social security law, and she frequently assists clients with corporate restructurings and transactions.
Restructuring/Insolvency – Band 3
THE FIRM This PricewaterhouseCoopers-associated firm is noted for its expertise in tax, and maintains an important restructuring and insolvency practice. A total of 16 fee earners drawn from the tax support and corporate and M&A departments undertake the firm’s mandates in this field. Recent highlights include handling the restructuring of Panasonic’s Romanian operations as part of a process taking place with the assistance of PwC across Europe. The firm also performed a business reorganisation for Philips.
Sources say: “D&B is very fast in its reaction, and really helps to keep the costs down.”
KEY INDIVIDUALS Managing partner Sorin David and corporate partner Anda Rojanschi share responsibility for the restructuring and insolvency department.
Tax – Band 2
THE FIRM This firm is widely regarded as a strong choice for tax issues, helped by its status as a correspondent law firm of PricewaterhouseCoopers. The department is divided into two separate teams, covering litigation and advisory matters, which enables it to direct its resources with great precision. It successfully represented Steaua Romana in challenging a state tax bill, and is now representing the client as it pursues compensation for the late payment of the reimbursement. The team has also been assisting Gallaher Romania, part of the Japan Tobacco Group, with lawsuits linked to exercise duties and penalties.
KEY INDIVIDUALS Dan Dascalu earns peer praise for his knowledge of tax litigation and tax law, particularly fiscal judicial procedure.
TIER 3: ‘Real experts in tax litigation and competition matters’, D&B David si Baias advised Orange Romania during three complex investigations by the Competition Council. It also represented Steaua Romana Oil Refinery in challenging the validity of two offset notes issued by the tax authorities. Dan Dascalu heads the team.
BANKING, FINANCE AND CAPITAL MARKETS
TIER 4: D&B David si Baias advised EOS KSI on revisions to a €20m financing arrangement, as well as Turkiye Garanti Bankasi on the reorganisation of three of its Dutch entities. Sorin David and practice head Laura Toncescu are recommended.
CORPORATE AND M&A
TIER 3: D&B David si Baias’ ‘client-oriented’ team advised Medlife, a leading provider of private medical services in Romania, on its purchase of a 55% stake in Genesys Medical Clinic Group Arad. It also advised Mega Image on the acquisition of two Primavara stores held by Can Serv. Other clients include Caroli Foods and Keyence International Belgium. Team head Anda Rojanschi and managing partner Sorin David are recommended.
Within Dispute resolution, PricewaterhouseCoopers Legal LLP is a third tier firm,
‘Real experts in tax litigation and competition matters’, D&B David si Baias advised Orange Romania during three complex investigations by the Competition Council. It also represented Steaua Romana Oil Refinery in challenging the validity of two offset notes issued by the tax authorities. Dan Dascalu heads the team.
ENERGY AND NATURAL RESOURCES
TIER 4: D&B David si Baias advised Socar Petroleum, the state oil company of Azerbaijan, on the €7m acquisition of Romtranspetrol. It also acted for Duro Felguera on the development of certain electric power station projects in Romania. Anda Rojanschi is recommended.
IT, TELECOMS AND MEDIA
TIER 3: D&B David si Baias represented Orange Romania in three investigations by the Competition Council, and provides ongoing regulatory advice. Sorin David heads the team.
TIER 4: D&B David si Baias advised Mivan regarding the purchase of a number of apartments in Bucharest New Town. It also advised Valad Property private equity fund on investments in Romania. The ‘brilliant’ Sorin David and Emanuel Bancila are recommended.