🚀We are very proud to announce a sweeping victory on behalf of one of the main infrastructure contractors in Romania in a complex multi-million EUR dispute against CNAIR stemming from a construction public procurement contract. Our team successfully represented the client in an intricate international arbitration case concerning the adjustment mechanism related to major road infrastructure works, bringing together complex commercial, technical and legal issues in the context of our client’s fundamental right to fair compensation. Following an intense 2 years process, the Arbitral Tribunal issued its final award ruling in favor of our client on all counts and all claims. The Tribunal decisively validated our client's position and awarded not only the outstanding principal amount but also material delay penalties and further damages to cover monetary devaluation. Full recovery of arbitration costs and legal fees was also secured. This landmark win reinforces the critical imp...
Understanding M&A Concepts – Reps and Warranties: Worth the Hype? Author: Roxana Sandulescu In the complex world of mergers and acquisitions (M&A), whether you are an M&A consultant, corporate lawyer, business executive, founder, or investor, one of the crucial concepts you inevitably encounter is representations and warranties – often referred to as reps and warranties . In the shares sale-purchase agreements (“ SPAs ”), representations and warranties define the expected state of both the buyer and the target company at the time the contract is signed and upon closing. They serve as an assurance to the buyer that the company being acquired is in a certain state, as represented by the seller. These clauses outline the seller's guarantees and provide a mechanism for the buyer to seek remedies if those representations turn out to be false or incomplete. While reps and warranties are fundamental in M&A transactions globally, the way they are treated can vary signific...