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	<title>Crisis Knowledge Center - Ţuca Zbârcea &#38; Asociaţii</title>
	<atom:link href="http://ckc.tuca.ro/feed/" rel="self" type="application/rss+xml" />
	<link>http://ckc.tuca.ro</link>
	<description>Crisis Knowledge Center</description>
	<pubDate>Mon, 21 Mar 2011 20:03:19 +0000</pubDate>
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	<language>en</language>
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			<item>
		<title>Can the New PPP Law Help Generate Private Investment in Public Projects?</title>
		<link>http://ckc.tuca.ro/2011/02/can-the-new-ppp-law-help-generate-private-investment-in-public-projects/</link>
		<comments>http://ckc.tuca.ro/2011/02/can-the-new-ppp-law-help-generate-private-investment-in-public-projects/#comments</comments>
		<pubDate>Mon, 21 Feb 2011 12:37:26 +0000</pubDate>
		<dc:creator>serban.paslaru</dc:creator>
		
		<category><![CDATA[Real Estate]]></category>

		<category><![CDATA[concessions]]></category>

		<category><![CDATA[PPP]]></category>

		<category><![CDATA[public procurement]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=644</guid>
		<description><![CDATA[The end of 2010 saw the introduction of a new law to regulate public-private partnerships (PPP) in Romania.
PPP has been seen as an alternative means of financing public projects, especially in areas such as transport and public utilities, at a time when the authorities were facing a shortfall in public funding, and the lack of necessary skills and commitment formed serious obstacles to accessing EU money.

A PPP model should offer a suitable alternative not only to the traditional framework of public financing, but also to the public management of projects and, in particular, of project-related risks.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2011/02/can-the-new-ppp-law-help-generate-private-investment-in-public-projects/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Complaints: Where Are They Headed?</title>
		<link>http://ckc.tuca.ro/2011/01/complaints-where-are-they-headed/</link>
		<comments>http://ckc.tuca.ro/2011/01/complaints-where-are-they-headed/#comments</comments>
		<pubDate>Mon, 17 Jan 2011 12:54:11 +0000</pubDate>
		<dc:creator>dan.cristea</dc:creator>
		
		<category><![CDATA[Litigation & Arbitration]]></category>

		<category><![CDATA[complaints]]></category>

		<category><![CDATA[disputes]]></category>

		<category><![CDATA[public procurement]]></category>

		<category><![CDATA[Tuca Zbarcea]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=639</guid>
		<description><![CDATA[The amendments brought by the Implementation Law of Government Emergency Ordinance No. 76/2010, according to which complaints against public procurement procedures are to be lodged exclusively with the National Council for Solving Complaints (CNSC), seem to emerge from the lawmaker’s constant desire to provide the necessary leverage for expediting the resolution of disputes that hold back the public procurement system. Although an acceleration of dispute settlement is to follow, the focus should be placed on the balance between such measures and the need to ensure fundamental guarantees of a fair trial. ]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2011/01/complaints-where-are-they-headed/feed/</wfw:commentRss>
		</item>
		<item>
		<title>I Know an Abuse When I See One</title>
		<link>http://ckc.tuca.ro/2010/12/i-know-an-abuse-when-i-see-one/</link>
		<comments>http://ckc.tuca.ro/2010/12/i-know-an-abuse-when-i-see-one/#comments</comments>
		<pubDate>Wed, 22 Dec 2010 09:34:30 +0000</pubDate>
		<dc:creator>anca.jurcovan</dc:creator>
		
		<category><![CDATA[Legal Alerts]]></category>

		<category><![CDATA[abuse]]></category>

		<category><![CDATA[breach]]></category>

		<category><![CDATA[Competition]]></category>

		<category><![CDATA[contracts]]></category>

		<category><![CDATA[court]]></category>

		<category><![CDATA[dominant position]]></category>

		<category><![CDATA[Romania]]></category>

		<category><![CDATA[tariffs]]></category>

		<category><![CDATA[Tuca Zbarcea]]></category>

		<category><![CDATA[TV cable]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=630</guid>
		<description><![CDATA[The competition authority argued that UPC had breached its contractual commitment with subscribers according to which tariffs were to be adjusted in line with cost increases. The authority investigated the monthly tariffs and costs registered by UPC during a 4—year period and characterized as “unfair” the price increases not accompanied by a simultaneous cost raise.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/12/i-know-an-abuse-when-i-see-one/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Not So Fine with a Fine: Romanian Courts` Approach on Suspension of Financial Penalties Imposed by the Competition Council</title>
		<link>http://ckc.tuca.ro/2010/11/not-so-fine-with-a-fine-romanian-courts-approach-on-suspension-of-financial-penalties-imposed-by-the-competition-council/</link>
		<comments>http://ckc.tuca.ro/2010/11/not-so-fine-with-a-fine-romanian-courts-approach-on-suspension-of-financial-penalties-imposed-by-the-competition-council/#comments</comments>
		<pubDate>Mon, 15 Nov 2010 09:01:43 +0000</pubDate>
		<dc:creator>ioana.hrisafi</dc:creator>
		
		<category><![CDATA[Litigation & Arbitration]]></category>

		<category><![CDATA[Competition Council]]></category>

		<category><![CDATA[court]]></category>

		<category><![CDATA[decision]]></category>

		<category><![CDATA[litigation]]></category>

		<category><![CDATA[penalities]]></category>

		<category><![CDATA[Tuca Zbarcea]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=626</guid>
		<description><![CDATA[Often times, fines are taken lightly by Romanian companies: misdemeanor fines are considered to be at the lowest level in Europe, labor fines cause barely a stir, but let the Competition Council show up for applying a penalty, and the entire management board will be on alert.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/11/not-so-fine-with-a-fine-romanian-courts-approach-on-suspension-of-financial-penalties-imposed-by-the-competition-council/feed/</wfw:commentRss>
		</item>
		<item>
		<title>The Crisis: Aroused Competitiveness or Increased Collusion?</title>
		<link>http://ckc.tuca.ro/2010/10/the-crisis-aroused-competitiveness-or-increased-collusion/</link>
		<comments>http://ckc.tuca.ro/2010/10/the-crisis-aroused-competitiveness-or-increased-collusion/#comments</comments>
		<pubDate>Tue, 05 Oct 2010 08:49:00 +0000</pubDate>
		<dc:creator>raluca.vasilache</dc:creator>
		
		<category><![CDATA[Competition]]></category>

		<category><![CDATA[anticompetitive]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[Romania]]></category>

		<category><![CDATA[Tuca Zbarcea]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=622</guid>
		<description><![CDATA[Towards the end of 2008, signs that a major and imminent financial and economic crisis will shake the world became increasingly visible in Romania’s economic environment. It became clear that we were about to experience first hand what we only knew from books: exactly how an economic disaster affects the market economy as a whole and more particularly what its impact on the conduct of undertakings at various levels looks like. If 2009 was a difficult year, 2010 proved things can get worse, especially for the corporate sector.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/10/the-crisis-aroused-competitiveness-or-increased-collusion/feed/</wfw:commentRss>
		</item>
		<item>
		<title>September 28th: &#8220;Dispute Resolution After Global Financial Crisis&#8221;</title>
		<link>http://ckc.tuca.ro/2010/09/september-28th-dispute-resolution-after-global-financial-crisis/</link>
		<comments>http://ckc.tuca.ro/2010/09/september-28th-dispute-resolution-after-global-financial-crisis/#comments</comments>
		<pubDate>Tue, 28 Sep 2010 09:56:28 +0000</pubDate>
		<dc:creator>CKT</dc:creator>
		
		<category><![CDATA[News & Events]]></category>

		<category><![CDATA[arbitrability of disputes]]></category>

		<category><![CDATA[civil law]]></category>

		<category><![CDATA[common law]]></category>

		<category><![CDATA[dispute boards]]></category>

		<category><![CDATA[dispute resolution]]></category>

		<category><![CDATA[ICC Court of Arbitration]]></category>

		<category><![CDATA[international law]]></category>

		<category><![CDATA[Romania]]></category>

		<category><![CDATA[Tuca Zbarcea]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=635</guid>
		<description><![CDATA[The first ICC International Court of Arbitration conference held in Romania revealed the new challenges dispute resolution practitioners are facing in the post-crisis age. The conference took place against the backdrop of the proliferation of international commercial disputes.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/09/september-28th-dispute-resolution-after-global-financial-crisis/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Do We Have Enough Rich People to Tax Them Out?</title>
		<link>http://ckc.tuca.ro/2010/06/do-we-have-enough-rich-people-to-tax-them-out/</link>
		<comments>http://ckc.tuca.ro/2010/06/do-we-have-enough-rich-people-to-tax-them-out/#comments</comments>
		<pubDate>Thu, 17 Jun 2010 18:01:22 +0000</pubDate>
		<dc:creator>cornel.popa</dc:creator>
		
		<category><![CDATA[Finance]]></category>

		<category><![CDATA[economic crisis]]></category>

		<category><![CDATA[fiscal system]]></category>

		<category><![CDATA[flat tax]]></category>

		<category><![CDATA[income tax]]></category>

		<category><![CDATA[progressive taxation]]></category>

		<category><![CDATA[tax deductions]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=602</guid>
		<description><![CDATA[The de facto insolvency of Romania’s budget pushes politicians to propose the reinstatement of progressive taxation on individuals’ income.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/06/do-we-have-enough-rich-people-to-tax-them-out/feed/</wfw:commentRss>
		</item>
		<item>
		<title>June 16th: &#8220;The Flat Tax Helps Us Attract Foreign Capital Investment and It Should Be Kept As Such&#8221;</title>
		<link>http://ckc.tuca.ro/2010/06/june-16th-the-flat-tax-helps-us-attract-foreign-capital-investment-and-it-should-be-kept-as-such/</link>
		<comments>http://ckc.tuca.ro/2010/06/june-16th-the-flat-tax-helps-us-attract-foreign-capital-investment-and-it-should-be-kept-as-such/#comments</comments>
		<pubDate>Wed, 16 Jun 2010 14:13:00 +0000</pubDate>
		<dc:creator>CKT</dc:creator>
		
		<category><![CDATA[News & Events]]></category>

		<category><![CDATA[doing business]]></category>

		<category><![CDATA[flat tax]]></category>

		<category><![CDATA[HotNews]]></category>

		<category><![CDATA[investment]]></category>

		<category><![CDATA[Romania]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=607</guid>
		<description><![CDATA[On the 16th of June, Cornel Popa, Partner at Ţuca Zbârcea &#038; Asociaţii discussed about the pros and cons of doing business in Romania during an on-line debate organised by HotNews.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/06/june-16th-the-flat-tax-helps-us-attract-foreign-capital-investment-and-it-should-be-kept-as-such/feed/</wfw:commentRss>
		</item>
		<item>
		<title>At a Glance: Labour and Employment Issues in a Downturn</title>
		<link>http://ckc.tuca.ro/2010/06/at-a-glance-labour-and-employment-issues-in-a-downturn/</link>
		<comments>http://ckc.tuca.ro/2010/06/at-a-glance-labour-and-employment-issues-in-a-downturn/#comments</comments>
		<pubDate>Thu, 03 Jun 2010 15:32:05 +0000</pubDate>
		<dc:creator>CKT</dc:creator>
		
		<category><![CDATA[Employment]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[dismissals]]></category>

		<category><![CDATA[legislation]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=597</guid>
		<description><![CDATA[On the 3rd of June 2010, Şerban Pâslaru, Partner at Ţuca Zbârcea &#038; Asociaţii and Head of the firm’s labor and employment practice group expressed some of his opinions regarding the problems associated with the current labor and employment legislation, in an interview given to Hotnews. Also, he answered to queries addressed in relation to employment topics of general interest.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/06/at-a-glance-labour-and-employment-issues-in-a-downturn/feed/</wfw:commentRss>
		</item>
		<item>
		<title>The Law in Crisis?</title>
		<link>http://ckc.tuca.ro/2010/05/the-law-in-crisis/</link>
		<comments>http://ckc.tuca.ro/2010/05/the-law-in-crisis/#comments</comments>
		<pubDate>Wed, 05 May 2010 12:21:58 +0000</pubDate>
		<dc:creator>florentin.tuca</dc:creator>
		
		<category><![CDATA[Law Firm General]]></category>

		<category><![CDATA[bank]]></category>

		<category><![CDATA[contracts]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[interest]]></category>

		<category><![CDATA[law]]></category>

		<category><![CDATA[Romania]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=618</guid>
		<description><![CDATA[Last summer, John Doe took out a bank loan in order to buy his house, worth millions, many millions of dreams and many millions in lei. He then puts a 15% down-payment on the house and today, based on the contractual agreement signed with the seller, he must pay the difference. However, his house worthy of millions isn’t worth millions anymore; some say it is worth half, but most unsure just how much. Yet,  John Doe is forced to pay the agreed price as stated in the contract: legal conventions have the power of the law between the agreed parts, isn’t that so? ... Pacta sunt servanda (n. red.: the contract has to be respected).]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/05/the-law-in-crisis/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Legal Considerations on the Wider Implications of the Volcanic Eruptions in Iceland</title>
		<link>http://ckc.tuca.ro/2010/04/legal-considerations-on-the-wider-implications-of-the-volcanic-eruptions-in-iceland/</link>
		<comments>http://ckc.tuca.ro/2010/04/legal-considerations-on-the-wider-implications-of-the-volcanic-eruptions-in-iceland/#comments</comments>
		<pubDate>Fri, 23 Apr 2010 12:34:41 +0000</pubDate>
		<dc:creator>dan.cristea</dc:creator>
		
		<category><![CDATA[Corporate / M&A]]></category>

		<category><![CDATA[Employment]]></category>

		<category><![CDATA[air traffic]]></category>

		<category><![CDATA[consumer protection]]></category>

		<category><![CDATA[eruption]]></category>

		<category><![CDATA[exceptional circumstances]]></category>

		<category><![CDATA[force majeure]]></category>

		<category><![CDATA[lawyer]]></category>

		<category><![CDATA[rights]]></category>

		<category><![CDATA[volcano]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=587</guid>
		<description><![CDATA[Further to the disruptions of air traffic across Romania caused by the eruptions of an Icelandic volcano, a series of practical issues resurfaced and seem to escalate due to the persistency of this natural phenomenon.

It has become more and more obvious that the array of persons injured by the events from Iceland is not confined to the passengers trapped in the worlds’ airports, but also encompasses many companies whose businesses relied on free and regular flights. ]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/04/legal-considerations-on-the-wider-implications-of-the-volcanic-eruptions-in-iceland/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Legal Considerations on Romania`s New Bankruptcy Law</title>
		<link>http://ckc.tuca.ro/2010/04/legal-considerations-on-romanias-new-bankruptcy-law/</link>
		<comments>http://ckc.tuca.ro/2010/04/legal-considerations-on-romanias-new-bankruptcy-law/#comments</comments>
		<pubDate>Tue, 20 Apr 2010 08:59:11 +0000</pubDate>
		<dc:creator>mihai.dudoiu</dc:creator>
		
		<category><![CDATA[Finance]]></category>

		<category><![CDATA[Insolvency / Debt Recovery]]></category>

		<category><![CDATA[bank]]></category>

		<category><![CDATA[bankruptcy law]]></category>

		<category><![CDATA[debt]]></category>

		<category><![CDATA[enactment]]></category>

		<category><![CDATA[insolvency]]></category>

		<category><![CDATA[lawyer]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=574</guid>
		<description><![CDATA[At present, the Law has been approved by the Senate but is still to be discussed by the Chamber of Deputies. If approved by the deputies, the Law would have to be promulgated by the Romanian President.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/04/legal-considerations-on-romanias-new-bankruptcy-law/feed/</wfw:commentRss>
		</item>
		<item>
		<title>April 1st: &#8220;Your Career Is Not In Crisis This Summer&#8221;</title>
		<link>http://ckc.tuca.ro/2010/04/your-career-is-not-in-crisis-this-summer/</link>
		<comments>http://ckc.tuca.ro/2010/04/your-career-is-not-in-crisis-this-summer/#comments</comments>
		<pubDate>Thu, 01 Apr 2010 07:02:17 +0000</pubDate>
		<dc:creator>CKT</dc:creator>
		
		<category><![CDATA[News & Events]]></category>

		<category><![CDATA[graduate]]></category>

		<category><![CDATA[internship]]></category>

		<category><![CDATA[lawyer]]></category>

		<category><![CDATA[recruitment]]></category>

		<category><![CDATA[student]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=577</guid>
		<description><![CDATA[Ţuca Zbârcea &#038; Asociaţii continues the summer internship program for 3rd and 4th year students and graduates of the Faculty of Law.

Launched under the "Your Career Is Not In Crisis This Summer" label, the firm`s annual student recruitment program is coordinated by Cornel Popa, Partner at Ţuca Zbârcea &#038; Asociaţii.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/04/your-career-is-not-in-crisis-this-summer/feed/</wfw:commentRss>
		</item>
		<item>
		<title>February 25th: &#8220;Significant Amendments to the Current Labour Law Have to Be Implemented&#8221;</title>
		<link>http://ckc.tuca.ro/2010/02/february-25th-significant-amendments-to-the-current-labour-law-have-to-be-implemented/</link>
		<comments>http://ckc.tuca.ro/2010/02/february-25th-significant-amendments-to-the-current-labour-law-have-to-be-implemented/#comments</comments>
		<pubDate>Thu, 25 Feb 2010 16:24:51 +0000</pubDate>
		<dc:creator>CKT</dc:creator>
		
		<category><![CDATA[News & Events]]></category>

		<category><![CDATA[anti-crisis measures]]></category>

		<category><![CDATA[business]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[Employment]]></category>

		<category><![CDATA[labour]]></category>

		<category><![CDATA[lawyers]]></category>

		<category><![CDATA[legislation]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=581</guid>
		<description><![CDATA[On the 25th of February, Şerban Pâslaru, Partner at Ţuca Zbârcea &#038; Asociaţii and head of the firm's labour and employment practice group delivered a speech during the "Labour Force Market: Current Challenges and Opportunities" event, organised by Ţuca Zbârcea &#038; Asociaţii and FinMedia.

He has stated that the current labour and employment legislation no longer responds to the economic realities any more and urged the Romanian legislators to undertake the necessary steps to amend parts of the regulations in force as to adapt the general framework to the new market realities following the international financial and economic crisis. ]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/02/february-25th-significant-amendments-to-the-current-labour-law-have-to-be-implemented/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Crossing Spain: a Business Card from Madrid</title>
		<link>http://ckc.tuca.ro/2010/02/crossing-spain-a-business-card-from-madrid/</link>
		<comments>http://ckc.tuca.ro/2010/02/crossing-spain-a-business-card-from-madrid/#comments</comments>
		<pubDate>Thu, 04 Feb 2010 09:05:46 +0000</pubDate>
		<dc:creator>FGB</dc:creator>
		
		<category><![CDATA[Law Firm General]]></category>

		<category><![CDATA[European Union]]></category>

		<category><![CDATA[invest]]></category>

		<category><![CDATA[law firm]]></category>

		<category><![CDATA[management]]></category>

		<category><![CDATA[Romania]]></category>

		<category><![CDATA[Spain]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=567</guid>
		<description><![CDATA[Spain welcomed 2010 under a new institutional framework, taking over the European Union`s rotating presidency, after only one month since the Lisbon Treaty came into force. This would be Spain`s fourth term in the European Union Presidency after 1989, 1995 and 2002]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/02/crossing-spain-a-business-card-from-madrid/feed/</wfw:commentRss>
		</item>
		<item>
		<title>New Year`s Resolutions</title>
		<link>http://ckc.tuca.ro/2010/01/new-years-resolutions/</link>
		<comments>http://ckc.tuca.ro/2010/01/new-years-resolutions/#comments</comments>
		<pubDate>Mon, 25 Jan 2010 08:33:06 +0000</pubDate>
		<dc:creator>florentin.tuca</dc:creator>
		
		<category><![CDATA[Law Firm General]]></category>

		<category><![CDATA[financial crisis]]></category>

		<category><![CDATA[law firm]]></category>

		<category><![CDATA[management]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=561</guid>
		<description><![CDATA[Each January I say to myself: this new year is going to be a very special one, and this premonition came true about all the years Ţuca Zbârcea &#038; Asociaţii has lived so far. Our debut year, the year in which the brand was consolidated, the year our position at the top was confirmed… – great memories and important achievements that we also dedicate to our beloved Andreea whom we hold dear in our hearts and so sadly miss to this day... and always will.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2010/01/new-years-resolutions/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Perspectives: From Real Estate Financing to Energy and Infrastructure</title>
		<link>http://ckc.tuca.ro/2009/10/perspectives-from-real-estate-financing-to-energy-and-infrastructure/</link>
		<comments>http://ckc.tuca.ro/2009/10/perspectives-from-real-estate-financing-to-energy-and-infrastructure/#comments</comments>
		<pubDate>Thu, 15 Oct 2009 15:52:50 +0000</pubDate>
		<dc:creator>mihai.dudoiu</dc:creator>
		
		<category><![CDATA[Finance]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[financing]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=553</guid>
		<description><![CDATA[Troubled real estate market
The change that has occurred on the Romanian real estate financing market in the aftermath of the crisis could not have been more radical. Some of the bigger players (such as the German mortgage banks), which in 2007 were willing to take exposures in excess of EUR 100,000,000 per project, ceased committing [...]]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/10/perspectives-from-real-estate-financing-to-energy-and-infrastructure/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Legal Concerns during the Economic Crisis with regard to Project Finance and Syndicated Lending</title>
		<link>http://ckc.tuca.ro/2009/10/legal-concerns-during-the-economic-crisis-with-regard-to-project-finance-and-syndicated-lending/</link>
		<comments>http://ckc.tuca.ro/2009/10/legal-concerns-during-the-economic-crisis-with-regard-to-project-finance-and-syndicated-lending/#comments</comments>
		<pubDate>Thu, 15 Oct 2009 15:30:06 +0000</pubDate>
		<dc:creator>mihai.dudoiu</dc:creator>
		
		<category><![CDATA[Finance]]></category>

		<category><![CDATA[financial crisis]]></category>

		<category><![CDATA[project finance]]></category>

		<category><![CDATA[Real Estate]]></category>

		<category><![CDATA[Romania]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=544</guid>
		<description><![CDATA[Imported from abroad, the financial crisis radically changed the perspectives of the Romanian financing market, as liquidity dried up. Projects that were undergoing stopped. Investors sustaining a speculative market, walked away. Both the financial and the real estate markets froze.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/10/legal-concerns-during-the-economic-crisis-with-regard-to-project-finance-and-syndicated-lending/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Economic Crisis, Financial Crisis, Trust Crisis</title>
		<link>http://ckc.tuca.ro/2009/10/economic-crisis-financial-crisis-trust-crisis/</link>
		<comments>http://ckc.tuca.ro/2009/10/economic-crisis-financial-crisis-trust-crisis/#comments</comments>
		<pubDate>Thu, 15 Oct 2009 14:51:55 +0000</pubDate>
		<dc:creator>florentin.tuca</dc:creator>
		
		<category><![CDATA[Law Firm General]]></category>

		<category><![CDATA[cris]]></category>

		<category><![CDATA[Romania]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=536</guid>
		<description><![CDATA[That Romanian economy gives no sign of redress, to the contrary, anyone can see. While for this year’s first 9 months Romania was still relatively remote from the epicenter of the global hurricane, the local market entered fall like a sick man in dire need of perfusion. In our market’s particular case, the vital injection means money from the IMF, credit flows, infrastructure and energy investment, foreign capital. But, before any of these could nourish to the economy’s drained body, we need stability and trust in the political, judiciary and administrative systems. Of such trust, the authorities – the state, in general – seem to be less and less worthy.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/10/economic-crisis-financial-crisis-trust-crisis/feed/</wfw:commentRss>
		</item>
		<item>
		<title>The Challenges of Restructuring</title>
		<link>http://ckc.tuca.ro/2009/08/the-challenges-of-restructuring/</link>
		<comments>http://ckc.tuca.ro/2009/08/the-challenges-of-restructuring/#comments</comments>
		<pubDate>Fri, 07 Aug 2009 10:02:49 +0000</pubDate>
		<dc:creator>serban.paslaru</dc:creator>
		
		<category><![CDATA[Employment]]></category>

		<category><![CDATA[cutting costs]]></category>

		<category><![CDATA[restructuring]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=506</guid>
		<description><![CDATA[With the world in its deepest recession since the 1930s and the global economy shrinking fast, companies are facing the challenges of restructuring. 

While in normal times restructuring is usually aimed at improving the business efficiency, in the current context restructuring has become critically important for company survival. And given that employment costs represent in many cases a significant part of the total costs, restructuring is often accompanied by jobs cutting. Unfortunately, however well designed programs are implemented by governments to support people keeping their jobs, unemployment is rising sharply.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/08/the-challenges-of-restructuring/feed/</wfw:commentRss>
		</item>
		<item>
		<title>A Few Thoughts on the Legal Market and the Economic Environment</title>
		<link>http://ckc.tuca.ro/2009/07/a-few-thoughts-on-the-legal-market-and-the-economic-environment/</link>
		<comments>http://ckc.tuca.ro/2009/07/a-few-thoughts-on-the-legal-market-and-the-economic-environment/#comments</comments>
		<pubDate>Tue, 14 Jul 2009 11:29:04 +0000</pubDate>
		<dc:creator>CKT</dc:creator>
		
		<category><![CDATA[Law Firm General]]></category>

		<category><![CDATA[downturn]]></category>

		<category><![CDATA[legal market]]></category>

		<category><![CDATA[recession]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=534</guid>
		<description><![CDATA[Within the current economic downturn, the legal landscape changed with a shift in focus from the glamorous real estate, finance and capital markets services to infrastructure, energy, restructuring (corporate-finance-employment), litigation, insolvency/bankruptcy, these being probably the drivers that will help law firms get through this period of low gearing. ]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/07/a-few-thoughts-on-the-legal-market-and-the-economic-environment/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Can the Labour Courts Handle the Economic Reality?</title>
		<link>http://ckc.tuca.ro/2009/06/can-the-labour-courts-handle-the-economic-reality/</link>
		<comments>http://ckc.tuca.ro/2009/06/can-the-labour-courts-handle-the-economic-reality/#comments</comments>
		<pubDate>Thu, 25 Jun 2009 10:21:15 +0000</pubDate>
		<dc:creator>cornel.popa</dc:creator>
		
		<category><![CDATA[Litigation & Arbitration]]></category>

		<category><![CDATA[bonus]]></category>

		<category><![CDATA[labour]]></category>

		<category><![CDATA[litigation]]></category>

		<category><![CDATA[salary]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=521</guid>
		<description><![CDATA[Almost anyone would recall Jack Nicholson, while sitting in the witness stand for crossexamination by an inexperienced defense attorney, impersonated by an emotional Tom Cruise, throwing one of his most intense lines ever: “You can’t handle the truth!”

I often think about this moment when I am faced with the oddities of the Romanian courts and the bizarre decisions which they from time to time issue.

One of the particular projects in which we are currently involved relates to one of the most important commercial companies of Romania, to its employees and their union.

Even though the case has become somehow public and has been already presented in the media, I shall refrain from giving any names, as the purpose of this brief analysis is to discuss matters rather than persons. Therefore, in the good tradition of legal drafting I will just say for the moment that the large Romanian commercial company shall be hereinafter referred to as the “Company”, whereas the relevant union of workers (of course one of the strongest in Romania, not only by headcount, but also by the ability of its leaders to pursue the rights and interests of the union members) shall be named, without any metaphor, the “Union”.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/06/can-the-labour-courts-handle-the-economic-reality/feed/</wfw:commentRss>
		</item>
		<item>
		<title>À l`amiable</title>
		<link>http://ckc.tuca.ro/2009/04/a-lamiable/</link>
		<comments>http://ckc.tuca.ro/2009/04/a-lamiable/#comments</comments>
		<pubDate>Mon, 27 Apr 2009 17:49:09 +0000</pubDate>
		<dc:creator>florentin.tuca</dc:creator>
		
		<category><![CDATA[Law Firm General]]></category>

		<category><![CDATA[agreement]]></category>

		<category><![CDATA[contracts]]></category>

		<category><![CDATA[hardship]]></category>

		<category><![CDATA[renegotiation]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=429</guid>
		<description><![CDATA[Motto: "The same day, Moromete added up what he owed and, towards the evening, paid a visit to Tudor Balosu, to whom he agreed to sell some of the family plot. […] With the money from that, Moromete bought two horses, paid the land tax, paid that year’s due to the bank, paid his debt to Aristide and Niculae’s boarding-school but how would he solve these problems in the future was left unknown: yet again the bank, yet again the land tax, yet again Niculae..." (Free translation from Marin Preda, Moromeţii)]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/04/a-lamiable/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Saving The World</title>
		<link>http://ckc.tuca.ro/2009/04/saving-the-world/</link>
		<comments>http://ckc.tuca.ro/2009/04/saving-the-world/#comments</comments>
		<pubDate>Mon, 27 Apr 2009 17:00:51 +0000</pubDate>
		<dc:creator>florentin.tuca</dc:creator>
		
		<category><![CDATA[Law Firm General]]></category>

		<category><![CDATA[creditor]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[debtor]]></category>

		<category><![CDATA[subprime]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=416</guid>
		<description><![CDATA[Hernando de Soto is one of the world’s economic geniuses, according to the Times magazine, the most famous innovator of Latin America. 

Last year, I attended one of his conferences on the current economic crisis. His message, addressed to the numerous lawyers present at the international congress of their profession, was focused on the idea that today’s international crisis is caused not by lack of money, nor by lack of property, but by lack of information. More precisely, by the lack of key information on realities and basic legal relations. "Who owns what?" – asked the scholar, rhetorically, pointing out that in his home country, Peru, more that 65% of the population does not hold title on its possessions. Similarly, in the case of the subprime crisis, the virus that entered the system and crashed it, is uncertainty. Lack of basic inf0rmation about the amount of the debt, about the reality of the guarantees and about who owns a certain property is, according to de Soto, what made today’s collapse possible. ]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/04/saving-the-world/feed/</wfw:commentRss>
		</item>
		<item>
		<title>April 9th, 2009: &#8220;The Economic Crisis Increased The Number of Contract Renegotiations&#8221;</title>
		<link>http://ckc.tuca.ro/2009/04/april-9th-2009-the-economic-crisis-increased-the-number-of-contract-renegotiations/</link>
		<comments>http://ckc.tuca.ro/2009/04/april-9th-2009-the-economic-crisis-increased-the-number-of-contract-renegotiations/#comments</comments>
		<pubDate>Mon, 27 Apr 2009 16:50:47 +0000</pubDate>
		<dc:creator>CKT</dc:creator>
		
		<category><![CDATA[News & Events]]></category>

		<category><![CDATA[contracts]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[renegotiation]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=414</guid>
		<description><![CDATA[In a recent interview for the Romanian news agency NewsIn, Cornel Popa recognised that law firms face, since the commencement of the economic crisis, a steep increase in the cases of renegotiation of the contracts which were executed before October 2008.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/04/april-9th-2009-the-economic-crisis-increased-the-number-of-contract-renegotiations/feed/</wfw:commentRss>
		</item>
		<item>
		<title>April 8th, 2009: “Economic and Financial Crisis. Its Effects on the Legal World”, Bucharest Crowne Plaza Hotel</title>
		<link>http://ckc.tuca.ro/2009/04/april-8th-2009-%e2%80%9ceconomic-and-financial-crisis-its-effects-on-the-legal-world%e2%80%9d-bucharest-crowne-plaza-hotel/</link>
		<comments>http://ckc.tuca.ro/2009/04/april-8th-2009-%e2%80%9ceconomic-and-financial-crisis-its-effects-on-the-legal-world%e2%80%9d-bucharest-crowne-plaza-hotel/#comments</comments>
		<pubDate>Fri, 24 Apr 2009 13:27:12 +0000</pubDate>
		<dc:creator>CKT</dc:creator>
		
		<category><![CDATA[News & Events]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=403</guid>
		<description><![CDATA[The current economic crisis creates new opportunities for those who will know to turn them to good account. The business environment is now strongly affected, and many of the plans for this year are affected by the typhoons troubling the world economy. For a business, the timely and efficient management of the dysfunctions generated by the crisis may make the difference between survival and bankruptcy.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/04/april-8th-2009-%e2%80%9ceconomic-and-financial-crisis-its-effects-on-the-legal-world%e2%80%9d-bucharest-crowne-plaza-hotel/feed/</wfw:commentRss>
		</item>
		<item>
		<title>State Support For Companies Facing Financial Distress</title>
		<link>http://ckc.tuca.ro/2009/04/state-support-for-companies-facing-financial-distress/</link>
		<comments>http://ckc.tuca.ro/2009/04/state-support-for-companies-facing-financial-distress/#comments</comments>
		<pubDate>Wed, 22 Apr 2009 10:23:05 +0000</pubDate>
		<dc:creator>raluca.vasilache</dc:creator>
		
		<category><![CDATA[Competition]]></category>

		<category><![CDATA[financial distress]]></category>

		<category><![CDATA[State support]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=321</guid>
		<description><![CDATA[While the financial and economic crisis is a current subject on everyone’s agenda for some time, the impact of the crisis on the real economy is now being felt all-around Europe including Romania. Banks are much more risk-aware, thus leading to credit squeeze and companies experiencing difficulties with credit access. 

In this context, although the European Union (EU) insists on its objective of a less and better targeted State aid, the European Commission (the relevant authority in handling State aid matters at EU level – the Commission) has recognised that, subject to certain conditions, there is need for State aid in order to tackle the crisis. Consequently, while companies are focused on identifying the most suitable funding option(s) for their business in the current context, Member States are undertaking State aid actions to support companies facing financial distress.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/04/state-support-for-companies-facing-financial-distress/feed/</wfw:commentRss>
		</item>
		<item>
		<title>New Means To A Fast Redress Of Commercial Receivables – The Payment Ordinance</title>
		<link>http://ckc.tuca.ro/2009/04/new-means-to-a-fast-redress-of-commercial-receivables-%e2%80%93-the-payment-ordinance/</link>
		<comments>http://ckc.tuca.ro/2009/04/new-means-to-a-fast-redress-of-commercial-receivables-%e2%80%93-the-payment-ordinance/#comments</comments>
		<pubDate>Sat, 04 Apr 2009 10:48:34 +0000</pubDate>
		<dc:creator>robert.rosu</dc:creator>
		
		<category><![CDATA[Insolvency / Debt Recovery]]></category>

		<category><![CDATA[agreement]]></category>

		<category><![CDATA[creditor]]></category>

		<category><![CDATA[debt]]></category>

		<category><![CDATA[financial distress]]></category>

		<category><![CDATA[ordinance]]></category>

		<category><![CDATA[payment]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=283</guid>
		<description><![CDATA[In these times of economic and financial distress, one of the first steps that any diligent businessman should take is inventorying the company’s receivables with special focus on those with actual chances of being recovered. One of the easiest ways to recover your debts is through an emergency legal proceeding: the payment ordinance. We shall emphasize the advantages that, under certain circumstances, the payment ordinance proceedings may offer to creditors.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/04/new-means-to-a-fast-redress-of-commercial-receivables-%e2%80%93-the-payment-ordinance/feed/</wfw:commentRss>
		</item>
		<item>
		<title>How The Financial Crisis Could Reshape Your Contracts</title>
		<link>http://ckc.tuca.ro/2009/04/how-the-financial-crisis-could-reshape-your-contracts/</link>
		<comments>http://ckc.tuca.ro/2009/04/how-the-financial-crisis-could-reshape-your-contracts/#comments</comments>
		<pubDate>Sat, 04 Apr 2009 10:40:33 +0000</pubDate>
		<dc:creator>cornel.popa</dc:creator>
		
		<category><![CDATA[Corporate / M&A]]></category>

		<category><![CDATA[agreement]]></category>

		<category><![CDATA[clause]]></category>

		<category><![CDATA[contracts]]></category>

		<category><![CDATA[renegotiate]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=280</guid>
		<description><![CDATA[<strong>Hard Times... Hardship</strong>

The legally parlance to describe the possibility to adjust a contract to a changing environment is the Latin expression <em>rebus sic stantibus</em>, which in three words attempts to convey the meaning that a contract should be maintained in its original form and substance while the circumstances prevailing at its conclusion still stand. <!--more-->]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/04/how-the-financial-crisis-could-reshape-your-contracts/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Cutting Labour Costs During Downturn</title>
		<link>http://ckc.tuca.ro/2009/04/cutting-labour-costs-during-downturn/</link>
		<comments>http://ckc.tuca.ro/2009/04/cutting-labour-costs-during-downturn/#comments</comments>
		<pubDate>Sat, 04 Apr 2009 10:22:56 +0000</pubDate>
		<dc:creator>serban.paslaru</dc:creator>
		
		<category><![CDATA[Employment]]></category>

		<category><![CDATA[bonus]]></category>

		<category><![CDATA[costs]]></category>

		<category><![CDATA[downturn]]></category>

		<category><![CDATA[overtime]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=265</guid>
		<description><![CDATA[<strong>Freezing Salaries Is Possible</strong>

Pursuant to the Labour Code, salary may be defined as representing the consideration received by the employee for the work he/she performs based upon an individual employment agreement.

At the same time, salary is one of the essential elements of the employment relationships entered into between the employee and the company, which are regulated by the individual employment agreement. Consequently, changing the salary amount shall imply the amendment of the employment agreement which can be done only if the consent of the employee is obtained. Freezing salaries but not decreasing would be therefore, in principle, possible. ]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/04/cutting-labour-costs-during-downturn/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Restructuring: Old Remedies In The New Crisis Context</title>
		<link>http://ckc.tuca.ro/2009/03/restructuring-old-remedies-in-the-new-crisis-context/</link>
		<comments>http://ckc.tuca.ro/2009/03/restructuring-old-remedies-in-the-new-crisis-context/#comments</comments>
		<pubDate>Mon, 23 Mar 2009 15:54:08 +0000</pubDate>
		<dc:creator>serban.paslaru</dc:creator>
		
		<category><![CDATA[Employment]]></category>

		<category><![CDATA[agreement]]></category>

		<category><![CDATA[costs]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[dismissals]]></category>

		<category><![CDATA[restructuring]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=236</guid>
		<description><![CDATA[The outcome of an economic and financial crisis is always painful in terms of employment. In the current context, it is likely that joblessness will grow fast in Romania, as construction boom has begun to crash and global trade, which emerging markets depend of, shrinks.

Many companies have already announced restructuring and other measures aimed to cut employment costs. Any such measures have to observe the legal constrains deriving from the Romanian legislation. Like many other EU countries, Romania has an overregulated employment market and "benefits" from an excessive employee protective framework.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/03/restructuring-old-remedies-in-the-new-crisis-context/feed/</wfw:commentRss>
		</item>
		<item>
		<title>The Seniority Bonus</title>
		<link>http://ckc.tuca.ro/2009/01/the-seniority-bonus/</link>
		<comments>http://ckc.tuca.ro/2009/01/the-seniority-bonus/#comments</comments>
		<pubDate>Sat, 24 Jan 2009 09:46:02 +0000</pubDate>
		<dc:creator>serban.paslaru</dc:creator>
		
		<category><![CDATA[Employment]]></category>

		<category><![CDATA[agreement]]></category>

		<category><![CDATA[bonus]]></category>

		<category><![CDATA[crisis]]></category>

		<category><![CDATA[cutting costs]]></category>

		<category><![CDATA[labour]]></category>

		<category><![CDATA[seniority]]></category>

		<guid isPermaLink="false">http://ckc.tuca.ro/?p=10</guid>
		<description><![CDATA[As businesses continue to deal with the effects of the global financial and economic crisis into 2009, many are now looking at alternative solutions to managing employment related costs.

While the current post may seem out of topic, the issue of the seniority bonus should be carefully dealt with, especially in these times of uncertainty and transformation. 

Our experience taught us that a significant number of employers fail to comply with the relevant provisions on the matter set forth by the employment legislation and the collective bargaining agreements. We met numerous cases where trade unions and employees raised this issue or where it even turned into disputes.]]></description>
		<wfw:commentRss>http://ckc.tuca.ro/2009/01/the-seniority-bonus/feed/</wfw:commentRss>
		</item>
	</channel>
</rss>

