Welcome to this month’s edition of our newsletter. In this issue, we’re happy to once again welcome another all-star performer to our team, real estate specialist Mihaela Dulceata. Also, Cristina Fernbach has moved-up within our organization to become a partner. These two individuals, along with the other members of our team, are what set us apart. Regular readers of our newsletter have undoubtedly noticed the many additions of our team that we’ve made over the last 18 months. These changes represent the growing demands put upon our firm by our clients and our commitment to meet those demands with experienced, first-class lawyers. It’s still an exciting time here!
And after reviewing the recent changes in the law that we report on, take a look at our report (in the “Beyond the Law” section at the end of our newsletter) about the outstanding performance of the young Romanians who participated in the 2018 NASA competition. The intelligence, hard work, and ingenuity of these students bodes well for all of us. Congratulations to these outstanding students!
Stratulat Albulescu Attorneys at Law
Cristiana Fernbach promoted to Partner and entrusted with the co-heading of the TMT practice at Stratulat-Albulescu
Stratulat-Albulescu is pleased to announce that Counsel Cristiana Fernbach was promoted to Partner with the firm and has been entrusted with the Co-Heading of the TMT practice together with Partner Ana Kusak, starting April 1st.
Stratulat Albulescu Attorneys at Law represented UPC Romania in connection to the leasing of its future headquarters, totalling approximately 6,000 square meters
Stratulat Albulescu Attorneys at Law assisted UPC Romania on the lease of a 6,000 square meter premises in the The Bridge 2 Class A building, currently under construction in the Orhideea area of Bucharest. The new UPC Romania office will be the headquarters of the company, thus consolidating operations from two locations, the offices from the North Side and Sema Park, starting with 2019.
In March we were at MIPIM!
Our Real Estate Team, led by Managing Partner Silviu Stratulat, attended “MIPIM – The world's leading property market 2018” Conference, that was held in Palais des Festivals, Cannes, France, 13th – 16th of March 2018.
MIPIM is the premier real estate event, gathering the most influential players from all sectors of the international property industry for four days of networking, premium events, conferences and dedicated exhibition zones.
Attendance at the conference allowed our firm members to exchange views on the latest insights and updates in this complex and competitive field.
Stratulat Albulescu adds Real Estate Counsel Mihaela Dulceata
Stratulat Albulescu Attorneys at Law is pleased to announce that Mihaela Dulceata has joined the firm, as Counsel in the Real Estate Group. Mihaela brings additional expertise to the firm in the fields of Real Estate and Construction law. Managing partner Silviu Stratulat remarked, "We've been concentrating on expanding our firm to create a "deep bench" of legal expertise, and the addition of Mihaela fits exactly with this plan.
EMPLOYMENT AND LABOUR
|New reporting requirements & deadlines for employers using state programs for the unemployed|
The Government has adopted amendments to the applicable legislation governing the unemployment insurance system and for the stimulation of employment, the completion of internships for higher education graduates, and related to the fund that guarantee the payment of the wages.
LIFE SCIENCES AND PHARMA
|The Norm and the health care framework agreement are due to enter into force as of 1 April 2018|
The Contract contains a series of provisions aimed at increasing the access of insured persons to medicines and medical services. It also intends to reduce bureaucratic impediments and to make the services of medical care providers more transparent. These changes include:
|Changes made to post award controls performed by the National Agency for Public Procurement|
National Agency for Public Procurement (“NAPP”) adopted standards that establish the rules for the post-award controls over the public procurement contracts and framework agreements, sectorial contracts and framework agreements, and concession contracts for works and services.
BANKING AND FINANCE
|Operational Risk Management related IT Software used by entities regulated by the Financial Supervisory Authority|
On 16 March 2018 was published in the Official Gazette of Romania, the Norm No. 4/2018 regarding the management of operational risks generated by IT software used by the entities authorized / approved / registered, regulated and / or supervised by the Financial Supervisory Authority (“Norm”).
|Amendments to copyright & other intellectual property laws|
Recently adopted Law no. 74/2018 aims to comply with the requirements of Directive no. 2014/26 / EU on the collective management of copyright and related rights and the granting of multi-territory licenses for music rights for online use in the internal market (“Directive”). The objective of the Directive is to regulate the legal aspects that govern the organization, functioning, and operation of copyright management organizations and related rights and to regulate how to obtain and use multi-territory licenses for musical works for online use in the internal market.
PROJECTS AND ENERGY
|Law no. 63/2018 for amending and completing the Law no. 111/1996 on the safe conduct, regulation, authorization and control of nuclear activities|
We are following up on the news from March, whereby we have mentioned that a new piece of nuclear energy related legislation has been passed: this law regulates the authorization and control of nuclear activities conducted exclusively for peaceful purposes.
|Order no. 40/2018 regarding the modification of the Methodology for establishing the unitary income related to the regulated supply activity in a regulatory year and approving the regulated prices in the natural gas sector starting with 2016|
Recently there was issued the methodology for establishing the unitary income related to the regulated supply activity, in a regulatory year, and approving the regulated prices in the natural gas sector starting with 2016.
The Minister's order settles the price-calculation formulas depending on the gas suppliers, the gas categories and their extraction methods.
BEYOND THE LAW
|Romanian students win grand prize at NASA competition|
Cosma Bianca-Maria and Constantinescu Mihaela, students at the Ovidius High School in Constanta, won the grand prize of the NASA Ames Space Settlement Design Contest 2018. The won for their project “Cicada.”
Ovidius High School becomes the only high school in the world to win the Grand Prix twice in the history of the competition. The presentation of the "NSS Bruce M. Clark, the Jr. Memorial Space Settlement Award" to the winners will occur at the international conference that will take place between May 24-27 in Los Angeles, California, USA.
Stratulat Albulescu Attorneys At Law
Stratulat Albulescu Attorneys at Law is a young and dynamic Romanian law firm, providing legal advice in all business sectors and in all areas of Business Law and Dispute Resolution in Romania. Our team is comprised of lawyers who are leaders in their disciplines. The firm works in close co-operation with highly-respected law firms throughout Europe and elsewhere and has significant experience in cross-border transactions, with its lawyers providing legal advice in the English, German, French, Italian, Romanian and Spanish.
This is a newsletter from Stratulat Albulescu Attorneys at Law. This document provides a general summary only and is not intended to be comprehensive nor legal advice. Specific legal advice should always be sought in relation to the particular facts of a given situation.