There are several means for acquisition of companies, among which also with leverage buy-out combined with merger that is quite rare in practice, but not impossible. Therefore, a good knowledge of how leveraged buy-out works, how you select a target company, which are the stages of the acquisition and the possibility to use merger to facilitate the acquisition, are elements necessary for a better understanding of such operation in order to use...

The judgement of the Court of Justice in Kone represents another case of private enforcement of competition law in EU. This time the Court has gone too far in its attempt of creating an indirect harmonization of civil procedural rules by virtue of an ample reading of the principle of effectiveness. In Kone judgement, the Court ruled that umbrella pricing theory enters the scope of the protective provisions of Article 101 TFE...

The legal-jurisdictional chain drive in our country has shown a series of controversial issues regarding the review procedures against the decisions issued by the National Councils for Solving Complaints, issues that are of common knowledge to the public procurement experts. Despite of these facts, which were subject matter to a series of amendments, brought to the G.E.O. no. 34/2006, the aim of this article is not to summarize or resume the ...

In the second part of the study, I have tried to highlight, depending on the purpose of which it was created, the applicability of this legal operation.In this sense, in order to outline the legal construct of the trust, it is essential to compare and contrast this operation and other legal institutions with which is share similarities.The trust regulation do not reveal the practical utility. Therefore I tried, by analizing various ...

The coming into force of the new Romanian Civil Procedure Code, on February 15th 2013, has resulted in new rules on the civil trial with a foreign element, repealing the last remaining articles of Law no. 105/1992. This paper is the seventh of a series which aims to provide a general analisys of the new legal provisions, correlating them with the former regulation and relevant jurisprudence, as well as the European legislation with which it mig...

The objectiveness of the insolvency procedures can be ensured primarily through a balanced distribution of roles of the interested parties, without granting a decisive influence to any participant who is not under the obligation to give reasons for its decisions.The second factor (derived from the first) for the purposes of maintaining the objectivity is the appointment of independent specialists in order to perform the economic analysis...

The article provides an overview of doctrinal opinions regarding the name and legal nature of the class action, as well as a comparison between Law no. 85/2006 and Government Emergency Ordinance no. 91/2013, both regulating the class action. The author’s conclusions state that the actions aiming to restore the debtors’ patrimony and the balance between creditors will be more difficult to bring under the new regulations.

As a an insolvency practitioner named to apply the reglementation of the Gouvernement Emergency Ordonance regarding the finacial crisis, I have tried to set an coherent chain coupling of decisions and activities meant to accomplish my purpose on an imaginary task. Making this exercise, made me realise that the GEO‘s main aim as it is declared in its preambule is almost impossible to aplly. In my opinion this conclusions are only the answer of t...

The article is aimed to analyse, through the eyes of a practitioner, the mechanism and legal effects of hardship, a legal concept which was for the first time explicitly regulated under the Romanian law by the new Civil code, which became effective as of October 2011. One particular pragmatic objective of the author was to outline the potential practical issues which may arise due to the large variety of possible situations, correlated to the...

A relatively new, compromise-based form of justice in the Romanian legislation, mediation has increasingly been subject to debate within the framework of the entry into force of the new Code of Civil Procedure, because, while changing the common procedural rules relating to non-criminal litigations, a new preliminary, pre-trial procedure was introduced, namely the mandatory information on the benefits of mediation. As a new institut...