Cobzac & Partners
Cobzac & Partners is a full-service law firm with an office in Chisinau, Moldova. The firm has a track-record advising mostly local clients across all areas of corporate law and project development. The
team is led by Daniel Cobzac
Highlights
The firm, led by Daniel Cobzac and Ana Iovu, advised one of Moldova's biggest banks - CB Moldindconbank - in recouping outstanding loans to borrower SA Liga-2. The projects was complicated by the involvment of a third party legal services entity, Legaltriumf LLC, which had filed insolvency proceedings against SA Liga-2 on behalf of the bank.
The firm also represented Reinvest24 in its capacity as lender to several real estate companies within the Kirsan Group. The companies filed for an accelerated restructuring, and in response the firm advised Reinvest24 through its challenge to the insolvency process. This is a relatively untested course of action within the Moldovan legal market.
Key clients
CB Eximbank, Reinvest24 OU CB, Moldindconbank, Moldova-Agroindbank and OCN Iute Credit LLC
Crowe
Crowe Global, the global professional services network, operates in Moldova through
Crowe Turcan Mikhailenko. The team is led by managing partner Ivan Turcan.
Highlights
The firm advised a Moldovan subsdiary on its divestment of over 100 plots of land as part of a cross-border sale and purchase agreement. The firm acted in another cross-border transaction where it took the lead in a complex due diligence process, wihch spanned governanc issues, finance facilities, asset ownership, contractual obligations and regulatory compliance.
Key clients
CC Aquatrade, System Capital Management, Gvura, Slavena Lux and OZKA Construction
Dolea & Co
Dolea & Co is a Moldovan law firm based in Chișinău.
The firm has a particular focus on financial and corporate deals and is led by managing partner
Sorin Dolea.
Highlights
The firm was advising EcoBase, a developer of forestry carbon projects in Europe, on a partnership agreement with Moldova's state forestry agency, Moldsilva. The projects envisages the largest forestation project in Moldovan history, with a project value over EUR30 million.
The firm was also working with international counsel to advise Moldovan gas supplier and distributor Rotalin Gaz Trading on a cross-border gas sales agreements with traders including Vitol, Energy Resources of Ukraine and Glencore.
Elsewhere, the firm acted for French real estate company VAR Inno-Invest on its establishment of a Moldovan subsidirary and the purchase of real estate in Chisinau.
Key clients
Rotalin Gas Trading, Park Avenue Capital LLC, Habitat AS, Agroalliance and Moldova Stock Exchange
Gladei & Partners
Established in 2007, Gladei & Partners is a
full-service corporate law firm with an office in Chisinau.
The firm
is active in
financial and corporate and is led by Roger Gladei, who works alongside partners Iulian Pasatii and Valeriu Cernei.
Highlights
The firm advised Trans-Oil Group, and its 15 Moldovan subsidiaries, in relation to a USD550 million eurobond issuance in November 2024. The team worked alongside international counsel Baker McKenzie. The deal involved six jurisdictions, regulatory scrutiny in the EU and US, and a parallel refinancing transaction. The deal helped narrow the gap between EU and Moldovan financial markets practice and set a benchmark for the country's capital markets.
In September 2024 the team also advised Moldova's largest bank, MAIB, complete a buyback of 3% of its own shares, marking the first ever buyback by a Moldovan issuer.
The firm also represented the European Investment Bank in a EUR94 million loan to MAIB. The facility consist in a EUR50 million loan to fund green investments by SMEs, and a EUR44 million portfolio guarantee, backed by the European Commission, to MSMEs.
EBRD, MAIB, Google, Apple, Victoriabank and Moldindconbank
Schoenherr Moldova
Schoenherr Moldova is the Moldovan presence of the international law firm Schoenherr.
Schoenherr is an international law firm established in 1950 which is based in Central and Eastern Europe, operating in 14 countries.
The firm in Moldova was established in Chisinau in 2009 and is led by managing partner Vladimir
Iurkovski. The team has a strong practice in financial and corporate work achieving top tier status for Moldova in this area.
Highlights
The firm, supported by its regional network, advised Banca Comerciala Romana on the sale of its local subsidiary in Moldova. The firm was involved in drafting the SPA and managing the regulatory aspects of the deal, which included securing authorisation from the national banks of Moldova and Romania, the European Central Bank, the Competition Council of Moldova and Moldova's National Commission for Financial Markets. The deal represents one of the few banking deals in the market.
Banca Comerciala Romana, Vetropack Holding Austria, Karpoweship Global, Farmasi Cosmetics and iO Digital.
Turcan Cazac
Turcan Cazac is a Moldovan law firm established in 1999 and based in Chisinau.
The firm has a strong practice in financial and corporate work and is well established in the market's top tier. The firm is led by founding partners Alexander Turcan and Octavian Cazac.
Highlights
The firm worked alongside global international counsel to advise ING Bank on a $178 million facility to TOI Commodities - part of the Trans-Oil Group. The transaction was a working capital loan which will fund the purchase, processing, storage and export of agricultural commodities from Moldova. The firm supported on the structuring of the English-law governed facility and drafted the security instruments.
The team acted for the joint bookrunners and joint lead managers on a EUR550 million bond issue by Aragvi Finance International. The deal was led by Vadim Taigorba and involved a large group of international counsel and foreign jurisdiction coordination. The bonds were listed on the Vienna Stock Exchange and represented only the third and the largest eurobond issuance by a group of companies with its core business in Moldova.
Elsewhere, the firm advised the EBRD on a Portfolio Risk Sharing (PRS) transaction, consisting in an unfunded portfolio guarantee provided by EBRD in favour of MAIB and OTP Bank. Working alongside internaitonal counsel, th deal was one of the first pilot implementations of the PSR product by the EBRD in Moldova.
Key clients
ING Bank, EBRD, TransGaz SA, IFC and Citigroup Global Markets
Vernon David
Vernon David is a law firm established in 2001 which is based in Romania and Moldova. In Moldova, the firm's financial and corporate practice is led by
Sergiu Bivol, corporate and M&A, and Roman Ivanov, banking and regulatory. The firm has a strong practice in financial and corporate work achieving top tier status for Moldova in this area. The firm stands out for having both domestic and international (including New York-qualified) lawyers.
Highlights
The firm was advising Horizon Capital Fund on the negotiation and extension of a $140 million facility to one of the largest Moldovan agri-businesses. In one corporate deal, a team acted for Ukraine's TB Fruit in relation to a restructuring in Moldova, including the negotiation of a lease agreement with local municipalities and matters relating to the construction of one of the largest juice facilities in the country.
Elsewhere, the firm was advising one of the country's largest banks, Victoriabank,on a series of projects, including an effort to recover outstanding debt against a large Moldovan commercial group.
The firm was also advising Moldovan clothing company Uniform (Tasci Group) on its acquisition of several production facilities.
Key clients
Royal Danish Embassy, Lafarge Holcim, EBRD, Energbank, BNP Paribas Polska and AIG Europe.
