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Friday, May 06, 2005

Romania's biggest law firm splits

Romania's largest law firm, Musat & Asociatii, has split following the departure of its deputy managing partner, Florentin Tuca, along with a team of 30 lawyers.

The leading Bucharest firm split last month when Tuca and a team of eight partners and 22 associates launched a new practice Tuca & Asociatti, citing "differences in strategy".

Musat, which, alongside Linklaters and Nestor Nestor Diculescu Kingston Peterson, is regarded as a local leader, will be left with five partners and around half of its associates.

One Tuca partner told Legal Week the defecting group of lawyers had "taken a sizeable chunk of its client base from Musat", adding: "Bucharest is an emerging market and we are expecting a lot of business and investment and are confident about our prospects."

Tuca, which focuses on M&A, privatisations, corporate, banking and energy, has a string of high-profile clients including fixed-line operator RomTelecom, metals giant Mittal Steel and French construction group Vinci.

Salans Bucharest head Obie Moore commented: "This is the biggest break-up in Romanian law firm history — but it provides another credible Romanian law firm and increases competition, with fewer conflicts in a growing market."

Posted by Mihai : 5/06/2005 05:39:00 pm