New rules on the procedure of arbitration

New rules on the procedure of arbitration: The Official Gazette of Romania, part I, no. 97 dated 7th of February 2012 published the Resolution of the Chamber of Commerce and Industry of Romania no. 17/2012 for the approval of the Rules of arbitration procedure of the International Commercial Arbitration Court. The new rules of the arbitrational procedure regulates, in detail, both the institutionalized arbitration organization as well as the ad-hoc one. Beginning with the approval date of these rules, the other contrary provisions will be repealed. Therefore the persons who have full capacity to exercise their rights may agree to solve through arbitration the litigations between them, except those related to the civil status and the persons capacity, family relationships, as well as the rights which the parties cannot possess. Through an arbitrational convention, the parties will be able to provide that their litigations can be submitted to a permanent arbitration institution or to a ad-hoc arbitration. * * * Major blockage of the new codes: The impact studies regarding the new codes, published on the Ministry of Justice website, show that in the absence of the back-up and effective employment of the staff, as well as without a back-up financing of the juridical system and in the absence of a logistical support, the entry of the New Civil Code is impossible, of the New Civil Procedure code, of the New Criminal code and of the New Criminal Procedure code. It is necessary a period of three years for recruiting the needed magistrates and clerks in the first year of application of the new codes. * * * Support for the project beneficiaries financed from European funds: On Tuesday, 13thof March 2012, the Government established up to 300 million euro the ceiling of guarantees which may be issued in 2012 under the Program of support for the investment project beneficiaries in priority areas for the Romanian economy financed by the structural instruments of the European Union. The guarantees for the agreements of principle granted in 2011 which had no result in guarantee contracts will be issued after the completion necessary legal formalities, so that the beneficiary territorial administrative units can access the banking financing for pre-financing the projects. * * * The change of the EGO on the enforcement of the irregularities in the use of the European funds | Project: The Ministry of Finances announced the launch of the Governement Ordinance in the public debate that took place  Monday, the 12thof March 2012, the project of the Government Ordinance for modifying and completing the GO no. 875/2011 on the approval of methodological rules of application of the provisions of the EGO no. 66/2011 on the prevention, the finding and the enforcement of the irregularities encountered in obtaining and using the European funds and/or the national public funds of those. * * * NNDKP – the leading firm in the top of Chambers Global: The law firm Nestor Nestor Diculescu Kingston Petersen was ranked number one, for the ninth time in the last 9 years, in all areas of practice researched in Romania by the juridical publication Chambers and Partners, the Global Edition. NNDKP, the only law firm which has succeeded this performance, is on the first position in the areas of banking and financing Law; Corporate, fusion and acquisitions Law; Insolvency/Reorganization and Litigations. * * * TUCA ZBARCEA & ASSOCIATES TAX, a new player on the fiscal consulting market: Tuca Zbarcea & Associates Tax S.R.L is announcing the establishment of a fiscal consulting division with specialists from Big 4 and from the Ministry of Finances. Tuca Zbarcea & Associates Tax S.R.L is the specialized division in providing services of fiscal consulting which will operate as an entity affiliated to the law firm Tuca Zbarcea & Associates. * * * BOSTINA and ASSOCIATES has registered a record turnover in 2011, exceeding the 30 million euro: The law firm Bostina and Associates has registered in 2011 a turnover of 33,47 million euro, a record amount on the law market in Romania. Most of the cashing was made by the practice area named “Litigation and Forced Executions – Territorial Offices”, with 30,06%. The other practice areas have made the following percentage: Communications, IT, Gambling – 5,43%; Infrastructure – 10,48%; Real Estate – 1,47%; M&A, Privatization, Competition – 16,19%; Energy, Oil, Gas – 9,20%; Banking, Capital Market – 9,21%; Utilities, Environment – 9,78%, Fiscal – 6,84%, Intellectual Property – 1,34%.

Andreea Roxana TUDOROIU

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