Romania and the New Insurance Directive

miercuri, 09 martie 2016 / Published in European Union case law, Intellectual Property, Romanian Business, Romanian Law
After much debate and discussion, the European Parliament and the Council have issued the recast Directive on Insurance Distribution. EU Directive 2016/97 (“Directive”) was issued on the 20th January 2016 and was published in the Official Journal of the European 2nd February 2016. The provisions of the Directive coming into effect 20 days after its publication.

Romanian Business Angels to Appear

miercuri, 22 iulie 2015 / Published in Intellectual Property, News, Romanian Law
The Business Angel law has now been introduced into the Romanian legal system. Whether it will stimulate investment in new ventures is a question which still has to be answered. It is a step taken by the Government to try and bring new investment into the market. Law no. 120/2015 regarding fiscal facilities granted to

2014 and Onwards

marți, 19 noiembrie 2013 / Published in Romanian Business, Romanian Law, Romanian Social Issues, Romanian Taxes
In 2014 Romania will celebrate seven years as a member of the EU. At this stage I am not sure what celebrations the Romanian Government has planned, but they will sure do something. Many of the restrictions that were imposed in the Accession Treaty when Romania joined the EU will be lifted. These restrictions were

Bribery Act and Due Diligence

marți, 05 noiembrie 2013 / Published in Romanian Business, Romanian Law
An area of concern in carrying out a due diligence on a company or business now in Romania for a UK, and in some cases US investors, is the question of how deep to go into a company or business to ensure that there has not been a breach of the Bribery Act or the

Enhanced debt recovery in Romania

marți, 15 octombrie 2013 / Published in Romanian Business, Romanian Law, Romanian Taxes
Debt recovery in Romania has caused problems for foreign investors over many years.  I would estimate that questions concerning debt recovery are the third most common request that we receive.  Recoveries of debts in Central Europe including Romania were a byword for Byzantium thinking.  One hears of cases that have been running for at least