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Romanian Energy Regulator vs. Romanian Gas Producers: Indirect Regulation of the Wholesale Prices for Romanian Gas
Nestor Nestor Diculescu Kingston Petersen, May 2020

Setting natural gas prices, directly or indirectly, is already a tradition in Romania and 2020 is not an exception to the rule...

Impact of COVID-19 on Holding the General Shareholders Meetings: New Temporary Measures for Non-Listed Companies Only
Nestor Nestor Diculescu Kingston Petersen, May 2020

The long-awaited government enactment on the holding of the general meeting of shareholders in the context of COVID-19 outbreak was finally passed in the form of the Government Emergency Ordinance No. 62/2020 that entered into force on May 8 (Ordinance 62)...

Is the Future of the European Green Deal Threatened by the COVID-19 Pandemic? Focus on the National Energy Sector
Nestor Nestor Diculescu Kingston Petersen, May 2020

In their attempt to reduce the spread of the new coronavirus pandemic of COVID-19 caused by the SARS-CoV-2 virus, governments throughout the European Union have imposed unparalleled measures with a strong impact on travel and economic activity. As the rate of new coronavirus infections started dropping across the European Union, governments and EU officials are looking for lockdown exit strategies and methods for boosting the currently stagnant economy...

Powerful Business Response to Global Health Challenge
Nestor Nestor Diculescu Kingston Petersen, May 2020

Humanity needs from each of us unprecedented contributions to support and enhance healthcare systems’ response to the coronavirus threat. Money, good citizenship values, personal time, individual limitations and privations and brain waves, in any proportion, never amount for too much. Equally urgently needed is to contain irreversible disruptions in businesses and, thus, to protect communities and employees from shortages in food, health and education resources...

Financial Relief for Media and Telecom Players
Nestor Nestor Diculescu Kingston Petersen, May 2020

As a result of the evolution of the international epidemiological situation determined by the spread of SARS-CoV-2 coronavirus and considering the state of emergency declared by Decree no. 195/2020 on the establishment of the state of emergency on the territory of Romania, as well as its extension by Decree no. 240/2020 regarding the extension of the state of emergency on the territory of Romania, the Romanian Government recently issued the Emergency Ordinance no...

If the Economic Relief Measures Implemented by the Romanian State do not Suffice, What to do Next?
Nestor Nestor Diculescu Kingston Petersen, May 2020

Same as most of the states where SARS-CoV-2 crisis emerged, Romania has adopted a quite extensive package of measures meant to sustain the shaken economy pending the cease of the emergency state. In this context, the Romanian Government regulated and is still implementing certain specific measures for easing the economic burden on companies during the state of emergency...

Package Travel Directive – COVID-19 Adjustments Strongly Needed
Nestor Nestor Diculescu Kingston Petersen, May 2020

COVID-19 hit worldwide tourism at unprecedented level...

Foreign Investments from Third Countries. A Change in the European Optics?
Nestor Nestor Diculescu Kingston Petersen, April 2020

The Covid-19 pandemic situation has emerged as more than just a healthcare crisis. Accordingly, the focus is to address and anticipate at the same time the economic and social implications which are still at an early stage. What we are rapidly starting to acknowledge is that the circumstances created by the pandemic have revealed legislative gaps and vulnerabilities, which need to be addressed in order to avoid further negative impacts to the extent possible...

Corporate Governance and Registration with the Romanian Trade Registry During COVID – 19 – Emergency Kit Required
Nestor Nestor Diculescu Kingston Petersen, April 2020

As of 16 March, the day when the state of emergency was declared in Romania, the Government has adopted an impressive number of pieces of legislation aimed at preventing and limiting the spread of the new coronavirus, on one hand, and at reducing the negative impact on economy of the implemented solutions, on the other hand. To be specific, we are talking about 75 acts (primary and secondary legislation) adopted in the course of approximately 1 month...

Emission Trading Scheme in the Times of COVID-19 Lockdown
Nestor Nestor Diculescu Kingston Petersen, April 2020

In the midst of the COVID-19 waves, the EU Commission rejected the delay proposals on the Emission Trading Scheme (ETS)’s mandatory annual deadlines...

Comments on the Envisaged Measures Regarding Companies Corporate Governance
Nestor Nestor Diculescu Kingston Petersen, April 2020

On 14 April 2020 the Romanian Ministry of Justice published a new draft emergency government ordinance on certain measures regarding the holding of general meetings of shareholders and meetings of the management bodies (the “EGO”). Such EGO is intended to ease the holding of such meetings in the context of the restrictions applicable during the state of emergency...

The COVID-19 Pandemic over FIDC Agreements
Nestor Nestor Diculescu Kingston Petersen, April 2020

The extensive global COVID-19 pandemic determined the states to impose restrictive measures with impact over the free movement of people and usual course of business of the economic operators. Due to the recent development of the outbreak in Romania, the Presidential Decree no. 195/16.03...

The Ordinance Proving a Moratorium on Loan Installments has been Enacted by the Government
Nestor Nestor Diculescu Kingston Petersen, April 2020

The ordinance proving a moratorium on loan installments has been enacted by the Government, and so has been competing legislation by Parliament, causing more instability. There are many uncertainties, the biggest being whether the Ordinance will remain in force at all – the Parliament has already adopted its replacement which is currently in its promulgation stage...

A GDPR Perspective on Scientific Research in Times of a Pandemic
Nestor Nestor Diculescu Kingston Petersen, April 2020

The current global climate has changed the manner in which we socialize, work and engage even in the simplest activities. We had to quickly adapt to speaking with our friends over video calls, working primarily from home and going out of the house to the most limited extent possible, generally only to conduct essential activities, as defined by the public authorities...

I Know Where You Are. Does Anyone Else Know?
Nestor Nestor Diculescu Kingston Petersen, April 2020

Since public health has been affected by the spread of COVID-19, Member States’ governments have adopted several measures to contain its diffusion and reduce the risk of exposure. Some Member States recommend social distancing measures, while others have also declared state of emergencies and lockdowns. This is also the case for Romania, where a lock-down is in place starting from 25 March 2020...

A New Wave of Insolvencies? Possible Preventive Restructuring Measures in the Implementation of the European Directive on Preventive Restructuring
Nestor Nestor Diculescu Kingston Petersen, April 2020

This legal analysis focuses on the typical case of a company that although it is not directly targeted by the measures established in order to prevent the spreading of the novel coronavirus, it still registers a decrease of demand, of the level of proceeds and of the production of goods and services...

Let's Talk About Insurance: Are we Covered in COVID-19 Situation?
Nestor Nestor Diculescu Kingston Petersen, April 2020

COVID-19 brought a tremendous disruption of normal daily life/business affecting personal life and businesses alike. People and companies/ institutions alike are in continuous assessment of solutions and compromises to mitigate the impact of the COVID – 19 pandemic. In the context of a continuously evolving environment, we all need to adapt and try to keep control on negative impact...

Recent Changes to the Legislative Framework Relating to the Emergency State
Nestor Nestor Diculescu Kingston Petersen, April 2020

On 27th March 2020, the Ministry of Internal Affairs has posted for public consultation a draft emergency government ordinance envisaged to amend the Emergency Government Ordinance no. 1/1999 relating to the emergency state (“EGO 1/1999”). EGO 1/1999 is the basis on which the presidential decree approving the emergency state was issued on 16thMarch 2020...

While Courts have Suspended Activity, the High Court of Cassation and Justice, Supreme Court of justice, in Romania, Continues its Deliberations and Determinations on Procedural Points of Law
Nestor Nestor Diculescu Kingston Petersen, March 2020

Note on how the national courts will reason upon the requests for additional evidences in appeal when the Suspension of civil procedures due to COVID-19 crisis will cease and the activity in courts will be resumed. Good news from the High Court of Romania! Even though most of the civil cases are suspendedex officiothroughout the state of emergency instated by the Decree no. 195/16.03...

Data Security Matters, Even When Working from Home! – Potential Risks and Key Tips
Nestor Nestor Diculescu Kingston Petersen, March 2020

The COVID-19 pandemic is determining more and more businesses to “put the lock” on their offices. This means that a large number of employees all over the world have already been forced to set their homes as comfortable as possible to ensure an appropriate work environment...

Arbitration in the Time of COVID-19. The Romanian Perspective
Nestor Nestor Diculescu Kingston Petersen, March 2020

Amid the spread of COVID-19, the Romanian President decreed a state of national emergency in Romania, with express measures to be taken in the justice system. Although the Decree does not refer to arbitration, the state of national emergency and the need of social distancing inevitably impact it as well...

Certificates for Emergency Situations
Nestor Nestor Diculescu Kingston Petersen, March 2020

The awaited regulation by the Ministry of Economy, Energy and Business Environment on issuance of the Certificate for emergency situations (“CES”) has been adopted through Order 791/2020 relating to the granting of emergency certificates to the economic operators whose activity is affected in the context of SARS-CoV-2 pandemic published on 25 March...

Summary of the Provisions of Military Ordinance no. 2 /21 March 2020
Nestor Nestor Diculescu Kingston Petersen, March 2020

Note: the complete text of the Military Ordinance no. 2/2020 can be found here. Following the increase of number of persons infected with Covid-19 and in an effort to strengthen the measures for preventing the spread of the virus, by keeping the social distance avioding unnecessary travel, in the evening of 21 March 2020, Military Ordinance no. 2/21.03.2020 was published in the Official Gazette no. 230/21.03.2020...

Consider Getting an Electronic Signature if You Do Not Already Have One
Nestor Nestor Diculescu Kingston Petersen, March 2020

As Coronavirus SARS-CoV-2 continues to spread, the general advice from Governments around the world is to avoid any contact with others as much as possible. In this context, we feel that organizations would most benefit from implementing electronic signatures in order to keep their activity going during this unfortunate state of play. Electronic signatures in Romania are mainly governed by the EU Regulation no...

Telecom Industry Under the State of Emergency - Measures and Effects
Nestor Nestor Diculescu Kingston Petersen, March 2020

In the current context of COVID-19 epidemic, President of Romania issued Decree No. 195/2020 on the declaration of the state of emergency on the territory of Romania,published in the Official Journal of Romania, Part I, No. 212/16.03.2020 (the “Decree”), with effect for a period of 30 days as of its publication, which can be further extended...

 

 

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