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Tuca Zbarcea & Asociatii: Over EUR 23 M turnover in 2008

Tuca Zbarcea & Asociatii solicitors invoiced their clients for total fees amounting to EUR 23.572 M in 2008 and report receipts of more than EUR 21.449 M, all amounts being VAT-inclusive, according to a company press release. ‘Overall, in 2008 we issued 45 per cent more invoices than we had in 2007, thanks to the larger workload and client portfolio', said Gabriel Zbarcea, Managing Partner with Tuca Zbarcea & Asociatii.

The law firm notes its announced financial results do not include the revenue made by its secondary, Cluj Napoca-based office operating in partnership with Nistorescu, Somlea & Asociatii.

The main contributing areas to the law firm's turnover were mergers and acquisitions, corporate, litigation and international arbitrage, as well as real estate. ‘We have budgeted zero per cent growth rate in 2009 as we are all living quite uncertain times. We do expect litigation, concessions and infrastructure, labour law, energy and international arbitrate to hold a major share of our general revenue in 2009', said Florentin Tuca, Managing Partner with Tuca Zbarcea & Asociatii.

The law firm representatives also said some of their immediate objectives were to consolidate expertise in the area of insolvency and strengthen the firm's finance and banking department by recruitment of relevant professionals. Some of the most representative accounts managed by Tuca Zbarcea & Asociatii in 2008 were Erste Bank / BCR, BRD - Groupe Societe Generale, and Banca Transilvania - assistance with the selling of stocks in Asiban S.A. The transaction value was EUR 350 M and was the most prominent completed project in the Romanian insurance sector in 2008. Tuca Zbarcea & Asociatii assisted CEZ Romania throughout a EUR 250 M transaction for the acquisition of two wind-power projects in Dobrogea- Fantanele and Cogealac.

 

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