Banking and Finance


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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