Year 8, Issue 5 CEE June 2021 Legal Matters In-Depth Analysis of the News and Newsmakers That Shape Europe’s Emerging Legal Markets Editorial by Boris Savoric of Savoric & Partners Across the Wire: Deals and Cases in CEE Featured Deals On the Move: New Firms and Practices A Firm Grasp on the Subject A Year Unlike Any Other: The 2020 CEE Legal Matters Deals of the Year Award Winners The Corner Office: Childhood Dreams Market Spotlight: Romania Guest Editorial by Mihaela Bondoc of Bondoc si Asociatii Expat on the Market: Interview with Gianluca Carlesso of the Carlesso Law Firm Romania Rebounding: A CEELM Round Table Market Spotlight: Moldova Guest Editorial by Roger Gladei of Gladei & Partners Inside Out: Fintur’s Sale of Moldcell to CG Cell Technologies The Wood Anniversary – Five Years of BizLaw.md Experts Review: Life Sciences/Pharma DEALER’S CHOICE LAW FIRM SUMMIT & 2021 CEE DEAL OF THE YEAR AWARDS SAVE THE DATE SEPTEMBER 16, 2021, LONDON DEALER’S CHOICE CO-HOSTED BY: SPONSORED BY: REGIONAL SPONSOR BULGARIA SPONSOR CROATIA SPONSOR HUNGARY SPONSOR POLAND SPONSOR ROMANIA SPONSOR TURKEY SPONSOR UKRAINE SPONSOR doty.ceelegalmatters.com PRELIMINARY MATTERS JUNE 2021 EDITORIAL: TIME TO GO By David Stuckey With this issue of the CEE Legal Matters magazine I conclude and Key Account Managers Zvikom- my day-to-day connection to the company I co-founded seven borero Galufu and Emma Oreg are and a half years, some 80 issues of the CEE Legal Matters super-strong and effective. I’ll miss magazine, untold thousands of articles on the CEELM web- working with you guys. And although I site, four GC Summits, and so much more ago. have only worked with new Editor Radu Neag for a few short weeks, his ready Oh, it’s not a complete severance – I’ll still be around. I will intelligence and enthusiasm makes my continue to spearhead the CEE Deals of the Year Awards vot- departure easier, as I know the editorial ing, and I will continue to manage the annual Dealer’s Choice reins are in good hands. International Law Firm Summit held in conjunction with the annual DOTY awards banquet (this year on September 16, Ultimately, of course: Radu. It is perhaps not unprecedented, 2021, in London!). In addition, I will continue as co-owner but it is certainly rare, for two friends to go into business, in of the unique and exciting (and long-in-development) CEE such a fraught industry as this, and come out the other side Lawyers online directory, the launch of which is now excruci- with that friendship not just intact, but – from my perspective, atingly close. at least – stronger than ever. I know I have thrown challenges at him he could not have expected when we started, including But my day-to-day connection to the CEE Legal Matters moving first to another country, and then to another conti- organization, and my responsibilities as both Director and nent. In addition, we have radically different working styles Executive Editor, conclude with this issue. and abilities, making the long-term prospects for this venture On my way out the door, however, I need to acknowledge especially unlikely. Be those different styles turned out to some of the wonderful people I’ve worked with over these complement each other, happily, and our shared commitment seven and a half years. Among the lawyers, I have genuine- to our common goal allowed us to buck the odds. ly appreciated working with lawyers Christian Blatchford at Radu will, going forward, take CEE Legal Matters to exciting Energo-Pro, Mykola Stetsenko at Avellum, Bora Kaya at Gama new places and achieve far greater things than I can even begin Holding, Alexandra Doytchinova at Schoenherr, and Ron to predict. His vision, commitment, relentless work ethic, and Given at first Wolf Theiss and then Deloitte Legal, and with simple professionalism are remarkable. My gratitude to him, marketing experts Jelena Bosnjak and Erik Werkman at CMS, like my trust in his vision for the future, knows no bounds. All Biliana Tzvetkova at Schoenherr, Natalia Blotskaya at Avellum, of this from a guy with a wit that makes you groan, even as it and Renata Vrzakova at JSK. All of them have engaged, over makes you laugh. That’s the best kind. the years, with patience, enthusiasm, professionalism. And, of- ten, with a consistent good humor. There are of course dozens So ok. As I said, I’m not completely leaving – I’m still around, of others whose assistance and support was also critical and I in one way or another, and you will continue to see my name apologize for not being able to name everyone here. on occasional bylines and, probably, emails. If you need me, you can find me. But it’s time to move on from this particular The staff at CEE Legal Matters has been remarkably strong, part of my adventure. Thanks, everyone. and our current team, including Operations Manager Dajana Jajcevic, Staff Writers Andrija Djonovic and Djordje Vesic, And thanks, Radu. Kick ass. The Editors: Letters to the Editors: CEE David Stuckey If you like what you read in these pages (or even if you don’t) [email protected] we really do want to hear from you. Please send any com- Radu Cotarcea ments, criticisms, questions, or ideas to us at: [email protected] [email protected] CEE LEGAL MATTERS 3 JUNE 2021 PRELIMINARY MATTERS GUEST EDITORIAL: REFLECTIONS ON THE CHANGING NATURE OF THE PROFESSION IN CROATIA AND CEE By Boris Savoric, Senior and Managing Partner, Savoric & Partners “What do you call 10,000 lawyers before. From legal document clerks to virtual law offices and at the bottom of the sea? A good self-help legal chats and websites, today’s lawyers face competi- start.” This popular joke underlines tion from many different kinds of non-lawyer sources. Clients the low public perception of lawyers will no longer pay expensive lawyers to perform work that can that remains common in today’s be accomplished more quickly, cheaply, and efficiently by tech- society. Although distrust toward nology or by some other non-lawyer professionals. How did lawyers has always existed, frivolous we get from shouting “Why there is no paper in the fax machine?!” lawsuits, rising billing rates, and in the office in the early nineties to artificial intelligence?! thrilling reports of lawyers behaving Comparing today’s practice to that in the 90s is like night and badly in the news do little to im- day. The profession had a much more intimate feel when I prove the public image of attorneys, started practicing. There was a large degree of fellowship and especially in CEE. pride in being an attorney back then, and a much more genteel I will turn 50 this year, and I have interconnection. We had limited discovery and paper submis- been practicing law since 1994. A sions, and not all lawyers had computers, mobile phones, and career in law is one of the most-coveted professions, and it other gadgets, so we did not always know what the other side certainly can bring many rewards and benefits to those who on a deal would do or would present like we do now. pursue and love it. However, working as an attorney has some Before, dactylography and touch-typing had a huge part in the shortcomings as well, especially in Croatia and the CEE re- legal profession. However, sometimes you could not under- gion. It is not all exciting billion-euro deals, grateful clients, and stand anything in the minutes, because the recording secretary telenovela courtroom drama. Becoming a lawyer – or, better was a bit tipsy, so her fingers were not placed on the “asdf ” to say, a practicing attorney – requires traveling down a long keys on the keyboard, but instead on “sdfg,” so you needed to educational road. decode it once you returned to the office. Deadlines, billing pressures, deadlines, client demands, long Of course, technology has changed the entire world – and, in hours, more deadlines, changing practice areas, and other re- my opinion, in a positive way. Findings are now much more quests combine to made being a practicing attorney one of the feasible, legal research that previously took days now can be most stressful jobs in the world. Today is not so different from accomplished in a smaller amount of time, often measurable when I began my career 26 years ago. Lawyers work longer in hours. Before, only the largest firms had funds for some and harder – 60-plus-hour weeks are not at all uncommon. research projects, but now even the smallest firms do. The competitive environment has forced lawyers to spend time on client satisfaction and business management activities, After 1995, the legal market began to be regulated completely in addition to billing hours. The lack of work-life balance is a differently, and a market economy, corporate law, competi- common result (and it should actually be “life-work balance”). tion regulations, and capital markets appeared in Croatia. My generation was the pioneer of that change, as Socialism and In my opinion, today’s law students are entering the bleakest state ownership really had their hands on the law before. That economy in decades, and they face one of the bleakest job change was challenging – but beautiful. markets in history. Public universities in Croatia are free of To conclude, being a lawyer still means being a part of the charge, but a large number of jobs have been cut and colleges practice that continues to be a great profession with many and law schools are not dialling back on enrollment.