Although it only entered the rankings last time out, PWC Legal hangs on to its tier two position as market opinion reflects the firm being active and visible over the past year.Having said this, the legal arm of the global professional services behemoth has had to deal with the departure of their ambitious leading lawyer Adrian Candu, who left to become a member of parliament....
[more]
Although it only entered the rankings last time out, PWC Legal hangs on to its tier two position as market opinion reflects the firm being active and visible over the past year.
Having said this, the legal arm of the global professional services behemoth has had to deal with the departure of their ambitious leading lawyer Adrian Candu, who left to become a member of parliament.
As you might expect, PWC Legal have a specific focus on the finance and banking side of the market, and the vast majority of its deal flow emanates from that area. The established double act of Marin Moraru and Alexandru Munteanu acted on all the significant mandates the firm received and both are lawyers very much respected in Moldova.
The most interesting deal undertaken by the firm was probably its advising of ICS Genesis International with regard to a public tender for road repair services. Genesis International won this tender eventually and PWC Legal also advised on putting into place a system for using bills of exchange as payment in this, a new procedure for contracts of this kind in Moldova. The deal eventually completed in November 2010 for a figure of approximately €10 million.
The team is also aiding Gilat Satellite Networks, an American-based hybrid networking company, as it looks to start a Moldovan operation. This has included all manner of advice, from incorporation documentation to work to increase the share capital of the new outfit, and is still ongoing to date.
PWC Legal doesn't completely disregard corporate work however and this year rendered legal advice to a confidential client regarding the acquisition of a prominent Moldovan insurance company. The work entailed preliminary preparatory work, which finished in February 2011, while the overall deal is still under consideration.
[hide]