On 17 September 2021, the Romanian Financial Supervisory Authority (FSA) rejected the short-term financing and redress plan of City Insurance SA, leading to the withdrawal of the insurer’s authorisation. The FSA further found that City Insurance is insolvent and filed… Read moreRomanian authority withdraws authorisation for City Insurance SA
Dealmakers say PE best placed to flourish in the next 12 months • A brighter outlook: 53% of respondents expect European M&A activity to increase over the next 12 months (compared to only 2% last year) • Low valuations and… Read moreThe Road to Recovery: European M&A Outlook 2022
On 7 September 2021, the Romanian parliament adopted the Law on establishing social protection measures for vulnerable energy consumers. This Law will go into effect upon its promulgation by the Romanian President and publication in the Official Gazette. The enforcement term… Read moreRomania passes law on protection of vulnerable energy consumers
At the end of August after a delay of almost two months, Romania transposed EU Directive 2019/904 of the European Parliament and of the Council of 5 June 2019 on the reduction of the impact of certain plastic products on… Read moreRomania bans plastic products following transposition of EU Directive 2019/904
International law firm CMS has advised the bank syndicate led by BRD – Groupe Société Générale S.A. and Garanti BBVA Romania on a EUR 120 million sustainability-related loan to a company in the NEPI Rockcastle, NE Property BV Group. The… Read moreCMS advises BRD – Groupe Société Générale S.A. and Garanti BBVA on EUR 120m ESG loan to NE Property BV
During the Esports Summit held in Bucharest on July 20, a Romanian government official announced that a draft of the law on Esports (electronic sports) is ready to be introduced to parliament for examination during the Fall 2021 parliamentary session…. Read moreRomanian parliament to receive Esports law as early as September 2021
Real estate developer One United Properties announces that CMS Romania will be among the companies based in the One Tower office building. One Tower is a class A office building which is part of the multifunctional project One Floreasca City,… Read moreLaw firm CMS Romania to relocate to One Tower office building
Throughout July 2021, Romania initiated important developments in the employment field, mainly concerning the content of certain documents relevant for the sector, such as the standard model of the individual employment contract and the declaration and notification templates required in… Read moreRomania issues employment law updates
The Romanian Government recently adopted Emergency Ordinance no. 54/2021 that amends Law 95/2006 on health reform. According to the new legislation, which came into force on 25 June 2021, patients may opt for private health services from private providers that… Read moreRomania adopts law on personal contributions for private medical services
CMS Romania is pleased to announce that five members of the firm’s legal and tax team have been promoted to Counsel, Senior Associate and Tax Assistant Manager as of 1 July 2021. Claudia Nagy (Corporate M&A, Competition) and Mircea Moraru (Corporate M&A)… Read morePromotions in the CMS Romania team
