Banking and Finance
Based on a vast expertise in banking and finance, built over 70 years by M. Firon & Co Advocates, the practice of Firon Bar-Nir in this more and more specialized industry continues to grow on an extremely difficult Romanian market, even after the burst of the economic crisis generated by the COVID 19 pandemic.
The lawyers specializing in this field are constantly facing a wide range of complex legal issues as they represent banks and other fund providers, as well as large groups of investors, beneficiaries of bank funding etc.
In this respect, our team was entrusted with the structuring, negotiation and conclusion of agreements or arrangements on syndicated loans, project finance andconstruction finance, intra-group loan restructuring, securities enforcement etc.
Some of these large-scale projects are presented below:
- Representing and assisting the Bucharest Municipality in its negotiations with the European Investment Bank intended to sign a Euro 75,000,000 financing project for Bucuresti Glina II;
- Representing and assisting Leumi Bank in its negotiations with two real estate developers for the financing of the residential projects they developed in Bucharest and assistance on various issues, in particular related to the crossborder securities issued by the bank’s clients;
- Representing and assisting First Bank and Libra Bank in various court and out-ofcourt procedures, either as judicial liquidator in insolvency proceedings or as legal counsel on various legal matters related to the ongoing agreements, or with the sale of assets in the banks’ portfolio after takeover from debtors etc.;
- Representing Credit Europe Bank in proceedings regarding the giving-in payment, abusive clauses or claims recovery by enforcement, throughout Romania;
- Representing the oldest commercial platform of Brasov hosting numerous retail units and the most state of the art agro-food market of Romania in the contracting of a 16,000,000 Euro credit facility from a foreign bank.
- In many cases, Firon Bar-Nir represented financial institutions in proceedings for enforcement of real estate, personal and corporate guarantees, in Romania and in particular in Israel, successfully overcoming multiple practical challenges of forced execution in a foreign jurisdiction with which Romanian has no treaty on recognition and enforcement of court decisions or other writs of execution.
Furthermore, Firon Bar-Nir handled transactions whose object was the sale of nonperforming assets and bank loans portfolios.
The current clients of Firon Bar-Nir include the Romanian branches of some well reputed worldwide financial and banking groups from Italy, Austria or Greece, as well as investment funds widely present and active on the international market.
Firon Bar-Nir is proud to count among its clients banks such as former Volksbank, Leumi Bank, Credit Europe Bank, First Bank, Libra Bank.