Legal 500


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Our Firm

Diana Neagu is recommended for M&A work and advised new client Roca on post-merger issues relating to its entry into Romania. [Corporate and M&A section]
Legal 500
2007 Edition

[…] Clients describe managing partner and finance expert Charles Vernon as ‘charismatic and charming’, he always gets the job done’. [Banking, finance and capital markets section]
Legal 500
2008 Edition

Clients enthuse about the firm’s ‘ability to deliver swift responses every time’. [Dispute resolution section]
Legal 500
2008 Edition

Banking and Finance

David & Associates SCA acted as borrower’s counsel to their client, shopping mall and real estate developer Iulius Group, on several financing deals in 2007. These included the financing of the Palas project, a €250m redevelopment of the city centre of Iasi, the refinancing of the group and two loans of €20m and €50m. Also in 2007, the firm began acting for major regional banking network, UniCredit Bank, advising on new product development, bankruptcy matters, banking regulation and real estate issues. The firm also acts for Citibank, predominantly on real estate and corporate matters. Clients describe managing partner and finance expert Charles Vernon as ‘charismatic and charming’, ‘he always gets the job done’. [Banking, finance and capital markets section]
Legal 500
2008 Edition

Building on its appointment as Iulius Group’s general counsel in 2006, David & Associates SCA advised the giant real estate developer on its €175m refinancing in 2007 as well as acting on the financing of the Palas project, a €250m redevelopment of Iasi city centre. The firm acted for Egnatia Bank in relation to a series of real estate financings. Additionally, the firm was engaged during the year by the government of the Republic of Moldova to redraft the young republic’s leasing law and all related fiscal and corporate legislation as part of an EBRD-sponsored project. [Project finance section]
Legal 500
2008 Edition

In 2006, David began acting for UniCredit Bank, on bankruptcy, regulatory and standard documentation matters. Also in 2006, the firm advised on a €20m loan for Dubai World – the Dubai Port Authority – and two multimillion-euro loans for Romanian developer Iulius Group. Historic clients include major financial institutions such as Citibank, American Express Bank and Egnatia Bank. [Banking & finance section]
Legal 500
2007 Edition

David & Associates SCA acted for Dubai Port authority, the world’s largest port operator, in relation to €20m of financing. Also in 2006, the firm became general counsel to Romania’s largest developer Iulius Group and has worked on in excess of €500m-worth of transactions for the company, including two major projects valued at €20m and €50m. Other clients include Egnatia Bank, Impress and TMK. [Project finance section]
Legal 500
2007 Edition

Charles Vernon, the US qualified managing partner is described as ‘affable, with a big legal brain’.  An important client for the firm is UniCredit Tiriac Bank, whom the firm advised in 2008 on a new cash-pooling product for the Romanian market and on real estate lending documentation.  The firm also acted for Citibank Romania on new product development and assisted in the bankruptcy reorganization of one of the bank’s clients.  Additionally, the firm advised Iulius Group on a €250m restructuring, and advised on a series of real estate financings with an aggregate value of €30m for the year.

Legal 500
2009 Edition

In 2008, it acted for its leading client, real estate developer Iulius Group, on a raft of projects including a €175m refinancing and the €250m financing of the Palas project redevelopment of the city centre of Iasi. The practice also acted on €20m of financing for Dubai Ports Authority, and assisted a large Italian company on the financing for a €50m Greenfield site. ‘Dedication and an ear for our concerns’ mark the team out from others.

Legal 500
2009 Edition

Clients say the service offered by the banking and finance team at Vernon | David is ‘exceptional’. The practice was strengthened in 2009 by the arrival of Dorina Dumitrescu from Wolf Theiss. On the lending side, the firm acts for some of the region’s leading banks including BancaTransilvania, Banca Comerciala Romana, Bank of Cyrus, Egnatia Bank, Moldova Agroindbank and American Express Bank. On the borrower side, the firm’s key client is the Iulius Group, Romania’s largest real estate developer, which has instructed the firm on one of the largest ever property financing deals in Romania. Charles Vernon is well-regarded in the market.

Legal 500
2010 Edition

Iulius Group, one of Romania’s largest developers, is an important client of Vernon | David, making the firm a distinguished player in real estate projects work. The firm acted on the Palas project (the redevelopment of the city centre of Iasi, a €250m transaction).

Legal 500
2010 Edition

Mergers & Acquisitions

David & Associates SCA’s practice is headed by ‘charismatic and quick-thinking’ partner Charles Vernon. In 2007, the firm advised BP and Castrol Oil on the merger of their lubricant businesses. The firm continued to provide a range of corporate and day-to-day services to major client Iulius Group, as well as key financial clients Citibank and UniCredit. The firm has a blossoming environmental law practice, headed by Diana Neagu, advising clients such as Hoeganaes, TMK, SAB Miller and Tarmac. [Corporate and M&A section]
Legal 500
2008 Edition

In 2007, David & Associates SCA advised steel producer TMK on the privatisation of CSR Resita and the successful closing of the privatisation contract. [Privatisation and PPP section]
Legal 500
2008 Edition

David & Associates SCA’s client list of major multinational companies grew in 2006 with the firm advising UniCredit Bank, Roca and BP. The firm also continued to act as Romanian counsel for Ericsson, American Express Bank and Raycap. In particular, the firm has attracted major corporate clients on the strength of its competition law practice and during 2006 advised SAB Miller, Cosmorom and Michelin. David & Associates SCA is headed by US-qualified lawyer Charles Vernon. … Diana Neagu is recommended for M&A work and advised new client Roca on post-merger issues relating to its entry into Romania. [Corporate and M&A section]
Legal 500
2007 Edition

David & Associates SCA acts for a range of blue-chip clients from the IT, telecoms, pharmaceutical, automotive, energy and banking sectors. U.S. lawyer Charles Vernon and heads a team of 14 associates. In 2005, the firm advised on several major competition law matters. [Corporate and M&A section]
Legal 500
2006 Edition

2008 saw the firm open two new offices, in Iasi, Romania and Chisinau, Moldova. In M&A, the firm advised Polish construction company Polimex-Mostostal on the €25m acquisition of the Coifer Group, and acted for Bluecrest Capital Fund on the acquisition of an IT company for €10m. On the corporate side, the practice acts for Tarmac on a range of corporate and commercial issues. According one client, ‘the service was fantastic, with friendly intelligent lawyers you can actually reach on the phone’.

Legal 500
2009 Edition

Vernon | David strengthened its corporate capability this year with the arrival of Dorina Dumitrescu, formerly a partner at Wolf Theiss, part of an expansion drive which has seen the firm’s headcount rise to 23 lawyers. M&A transactions involving both public and private concerns are the practice’s key strength, and its client list includes Coca-Cola, Egnatia Bank, Dubai World, American Express Bank, Vitol, Unilever and Impress. The firm advised Total Eurobusiness on the sale of the company to GED, a large Spanish fund – Total Eurobusiness is the leading Romanian provider of small co-generators and is a partner of GE Electric. It has also advised Tarmac on a variety of complex corporate and acquisition issues, including concession agreements, environmental issues and major labour matters. Clients praise the firm’s ‘commercial awareness’ and describe service levels as ‘very good’. Managing partner Charles Vernon is held in high regard by clients

Legal 500
2010 Edition

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Competition (Antitrust)

In 2007, Vernon│David advised steel producer TMK on the privatization of CSR Resita and the successful closing of the privatization contract.

Legal 500
2008 Edition

Clients are impressed by the ‘good depth and expertise’ at Vernon | David. The firm advised Tarmac on a series of real estate and regulatory matters, including several joint ventures/association agreements with local government authorities. Charles Vernon is recommended.

Legal 500
2010 Edition

Environment

In 2007, David & Associates SCA continued to represent BP on competition matters and acted for the multinational on the merger of its lubricants business with Aral. The practice also acted for oil trader Vitol in the recovery of a multimillion-euro debt against a Romanian oil processor. The firm has continued to grow its environmental law practice servicing clients such as steel producer TMK and asphalt company Tarmac. [Energy and natural resources section]
Legal 500
2008 Edition

In 2006, David & Associates SCA began to act for global company BP, as well as continuing to advise leading oil trader Vitol. [Energy and natural resources section]
Legal 500
2007 Edition

Energy & Natural Resources

In 2006, Vernon│David began to act for global company BP, as well as continuing to advise leading oil trader Vitol.

Legal 500
2007 Edition

In 2007, Vernon│David continued to represent BP on competition matters and acted for the multinational on the merger of its lubricants business with Aral.  The practice also acted for oil trader Vitol in the recovery of a multimillion-euro debt against a Romanian oil processor.  The firm has continued to grow its environmental law practice servicing clients such as steel producer TMK and asphalt company Tarmac.

Legal 500
2008 Edition

Vernon│David’s energy practice assisted ALS in its acquisition of a Romanian laboratory for testing natural resources and continued to act for petrol giant BP on competition matters, as well as assisting on general corporate and M&A work. Other clients include Vitol and the Public Power Company of Greece.

Legal 500
2009 Edition

Vernon | Davids clients in the energy field include some of the largest international oil companies. The firm acts for BP on competition, labour and general commercial matters and also represented BP/Castrol in relation to the merger of its lubricants business with Aral. In addition, it has represented Vitol, one of world’s largest oil traders. On the natural resources side Tarmac is an important client and, in a noteworthy development, the firm has established an environmental practice as the Romanian authorities begin to take a more rigorous approach to enforcement matters. Charles Vernon is the principle figure.

Legal 500
2010 Edition

Recommended/Recognized Areas of Law

The Legal 500 recommends Vernon | David for Romania in:

  • Moldova: Legal market overview (First tier)
  • IT, telecoms and media (Second tier)
  • Banking, finance and capital markets (Third tier)
  • Corporate and M&A (Third tier)
  • Real estate and construction (Third tier)
  • Energy and natural resources (Third tier)
  • Privatization and PPP (Third tier)
  • Dispute resolution (Fourth tier)
  • Project finance (Fourth tier)

Legal 500
2010 Edition

Real Estate and Construction

David & Associates SCA is general counsel to leading Romanian real estate developer Iulius Group. In addition to advising the group through its €175m refinancing and arranging both financing and refinancing for its three active malls, the firm had responsibility for advising on all aspects of the Palas Project, a major redevelopment of Iasi city centre with an estimated value in excess of €250m. The firm also acted for Russian steel company TMK on the multimillion-euro acquisitions of two office buildings and advised Impress and a large Italian company on two separate greenfield site investments. [Real estate and construction section]
Legal 500
2008 Edition

In 2006, David & Associates SCA began advising the Iulius Group, one of the leading Romanian real estate developers. The firm acted as general counsel, covering site assembly, construction, design, leasing and finance on several multimillion-euro deals for the company. Other major clients include the Dubai Port Authority and Russian steel company TMK. [Real estate & construction section]
Legal 500

2007 Edition

In 2008, Vernon│David is a ‘top-notch boutique firm’ according to clients, with partner Charles Vernon in particular praised for his ‘customer care skills’. The team has great strength in real estate financing, as well as acquisitions and development expertise. A major client is the Iulius Group, Romania’s largest shopping mall developer. Other important instructions have come from steel producer TMK, whom the firm advised on the €50m acquisition of several land plots and global manufacturer of metal packaging Impress.

Legal 500
2009 Edition

Clients of Vernon | Davidwould recommend it to others without a second thought’. The real estate practice encompasses the entire range of transactions, including financing, acquisition, regulatory, construction and litigation, largely because the firm represents some of the country’s largest developers. The firm acts as general counsel to Iulius Group and in the past 12 months has worked on over €700m worth of projects. Key matters included advising on the financing/refinancing of its three active malls in Iasi, Timisoara and Cluj, as well as with its newest mall project in Suceava. The Iulius Mall in Timisoara is the largest mall in Romania. The firm is also advising on all aspects of the Palas Project – the redevelopment of the city centre of Iasi – including financing, joint venture issues, construction, design and site assembly. This is the largest project of its kind in south-east Europe with a value well in excess of €250m.

Legal 500
2010 Edition

Dispute Resolution

Partner Daniela David leads the litigation practice at David & Associates SCA. In 2007, the firm acted for Romtelecom in contesting a fine levied by the Romanian competition authorities. The firm also acted for major Russian steel producer TMK, successfully representing the company before the Romanian High Court of Justice on litigation with a waste management company. Additionally, the firm advised oil trader Vitol in relation to major litigation related to an oil transaction. The firm has provided tax litigation advice to Coca-Cola, Ericsson and Rigips and environmental litigation advice to Impress, Hoeganaes and Tarmac amongst others. Clients enthuse about the firm’s ‘ability to deliver swift responses every time’. [Dispute resolution section]
Legal 500
2008 Edition

David & Associates SCA advised a Belgian beverage company on a multi-million euro dispute with the Romanian financial authorities relating to the company’s right to receive financial incentives. The firm also represented a telecoms company in a competition case. Dana David is recommended. [Dispute resolution section]
Legal 500
2006 Edition

Vernon│David partner Daniela David is a ‘talented litigation lawyer and someone you definitely want arguing on your side, not against you’. In addition to pure dispute resolution, the firm has very strong litigation practices for tax, competition and environmental law. The client base of the firm consists of several major global corporates including Coca-Cola, Citibank, American Express and Ericsson.

Legal 500
2009 Edition

Daniela David leads the litigation team at Vernon | David which has particular expertise in tax, competition and environmental work. Clients say the practice ‘shows creativity, a deep knowledge of the market and outstanding litigation skills’. Clients include BP, Michelin, SAB Miller and Cosmorom.

Legal 500
2010 Edition

Communications, Media and Technology

In 2007, David & Associates SCA advised global drinks company SAB Miller on an IT dispute and acted on a series of telecoms supply deals for longstanding client Romtelecom, which included a large build-out agreement for Romanian subway stations. The backbone of the practice is its ongoing work advising major Greek telecoms operator Cosmorom, Cosmorom’s logistics managers Reycap and global mobile phone company Ericsson. [IT, telecoms and media section]
Legal 500
2008 Edition

David & Associates SCA is one of the market leaders in this area, representing two major mobile companies: Ericsson and Raycap. In 2006, the firm also advised leading Greek telecoms operator Cosmorom on competition issues related to Cosmote. Additionally, the firm advised national telecoms company Romtelecom on several financial transactions and M&A, linked to the divestment of its cable television subsidiary. [IT and telecommunication section]
Legal 500
2007 Edition

David & Associates SCA represents several major clients from the telecoms sector from Scandinavia, southeastern Europe and Romania. [IT, telecoms and media section]
Legal 500
2006 Edition

In 2008, Vernon│David acted for Ericsson on a range of general corporate issues, and also for Raycap – the logistic managers for Cosmorom – on the countrywide development of the company’s mobile phone network. Additionally, the firm has acted for Cosmorom on competition matters and advised Romtelecom on the divestment of its cable television subsidiary, Cablevision. According to clients, the team ‘understood our needs and managed the process up to completion with great skill’.

Legal 500
2009 Edition

Vernon | David’s clients praise the firm’s ‘very good level of service’ in the technology sector. Managing partner Charles Vernon leads the TMT team, which has particular expertise in telco work. Ericsson, Raycap, Cosmorom and Romtelecom are among the firm’s clients. On the contentious side, the firm acted for SAB Miller in a significant IT dispute.

Legal 500
2010 Edition

Moldova

Originally based in Romania Vernon | David opened a four-lawyer Moldovan office in mid-2008 and has quickly made a good name for itself. The advice is ‘excellent’ and the office’s managing partner George Teodorescu is ‘very hard working, conscientious and reliable,’ while corporate finance partner Diana Neagu ‘is a very good person to have on your side in negotiations and for complex banking and lending matters.’ One client adds, ‘although the office is newly established, we have found the local team to be very good.’ UniCredit Bank is a major client for the firm, which it advised on the establishment of its presence in the country, the first major Western bank to have retail operations in Moldova.

Legal 500
2010 Edition