Țuca Zbârcea & Asociații has joined the initiative of the EcoAssist Association - “Planting good deeds in Romania!” which aims to grow and protect forests around the country. Funds donated by the law firm will facilitate the completion of research in Mureș county into the chemical components of the soil and climatic conditions, which will determine which tree species will be planted.

Țuca Zbârcea & Asociații’s lawyers have been advising Erste Bank for the past months on reaching an agreement in principle with four of the bank’s five minority shareholders regarding the takeover of a 24.12% stake in Romania’s largest commercial bank, Banca Comercială Română (BCR). The firm fielded a team led by Deputy Managing Partner Ștefan Damian, also co-head of the firm’s Banking and Finance practice group. The agreement was reached after several months of discussions and negotiations with five SIF minority shareholders in BCR and it will mark the largest transaction concluded in Romania since the beginning of 2011 and also one of the most important in the financial services sector since the advent of the crisis.

The consortium consisting of law firms Țuca Zbârcea & Asociații and Freshfields Bruckhaus Deringer has won AVAS’s bid selection procedure and will represent Romania in arbitration case no. ARB/10/22 before the International Center for Settlement of Investment Disputes (ICSID). The request for arbitration registered with the ICSID on November 19, 2010, was filed by the Turkish businessmen Ömer Dede and Serdar Elhüseyni, further to the alleged failure by the Romanian authorities to comply with the privatization agreement regarding SC IMUM SA Medgidia.

The High Court of Cassation and Justice has awarded the Property Fund the right to collect 15% of the dividends of SNGN Romgaz Mediaș S.A. for 2005, when the fund became a shareholder in the gas company. On June 7, the High Court of Cassation and Justice granted the final appeal of the Property Fund, represented by Țuca Zbârcea & Asociații, ordering SNGN Romgaz Mediaș to pay the fund RON 18,510,458 worth of dividends, corresponding to the 2005 net profit distribution. Legal interest, calculated as of 2007, will be added to the principal debt. Țuca Zbârcea & Asociații’s legal team was coordinated by partners Robert Roșu and Ioana Hrisafi-Josan.

The law firms Țuca Zbârcea & Asociații and Turcan Cazac held the conference “Romanian Investments in the Republic of Moldova – Challenges and Perspectives” at the Intercontinental Hotel in Bucharest on Thursday, June 2, 2011. The event was organized in cooperation with the consulting and audit company Grant Thornton and with the support of Finmedia.