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Costin Teodorovici

Partner

Costin brings 15 years of expertise in the field of banking and finance to our clients. His recruitment consolidates our outstanding banking and finance services and our ability to offer a complete and holistic range of legal services to our clients.

Beginning with his early years at Nestor Nestor Diculescu Kingston Petersen, and then with Bulboaca & Associates, Costin has worked with some of the most prestigious financial institutions and businesses on a wide spectrum of regulatory and finance projects. He was involved with financers and developers in several prominent finance projects during the golden age of the Romanian real estate market before the financial crisis.

Costin’s clients have always been extremely fond of his friendly and efficient way of working and his insights into the economic and legal factors that drive each transaction. During 2013 and 2014, Mondelez International (a spin-off company from Kraft Foods) headhunted him to temporarily take over the position of Legal Director, and coordinate their legal departments in eight jurisdictions for almost 18 months. He successfully completed his secondment and, in the process, honed his skills further and gained invaluable experience as the legal adviser to the CEO and top management.

Costin also has a second area of focus and expertise in competition law. He has participated in several well-known cases, achieving positive outcomes for clients such as Allianz and British-American Tobacco.

In 2004, Costin graduated from Bucharest University’s Faculty of Law and immediately went to work.  At the same time, he attended the French-Romanian European Law College and obtained his “maitrise en droit” from the prestigious Université Paris I – Panthéon-Sorbonne. Outside work, Costin is a passionate photographer who supports young talent.

 

LANGUAGES

Romanian - English - French

 

EDUCATION

2004 – Bachelor of Laws (LL.B.)

Faculty of Law, University of Bucharest

2004 - Maitrise, Droit

Université Paris 1 Panthéon-Sorbonne

 

PROJECTS

I. Banking & Finance

  • Advising a multi-billion family owned group in what was considered to be one of the most complex acquisitions of non-performing mortgage and corporate loan portfolios from Piraeus Bank Romania, with a value of hundreds of millions of euros. Costin played a significant role in structuring the transaction. He drafted all the documentation and led the successful negotiations on all legal matters. Following the deal’s completion in October 2015, he continued to assist the client in negotiating various related deals, from debtor settlements to hostile sales to third parties, that have involved more than half the assets in the portfolio.
  • Assisting one of the top Italian banks in a very demanding project to establish a joint venture between the bank and the Romanian Post, at the latter’s initiative, aimed at pooling the bank’s expertise and resources and the Romanian Post’s presence of more than 6,000 offices, to offer basic banking services in most rural areas.
  • Advising a top French bank on the regulatory regime under the EU Payment Services Directive.
  • Assisting Piraeus Bank Greece regarding the security structure for a financing arrangement with a group of companies specialising in metallurgy, worth more than EUR 100,000,000, including a mortgage over shares in a public company.
  • Advising a top Austrian bank on the structuring, preparing and negotiation of transaction documents for a credit facility of EUR 22,000,000 for the development of an aluminum plant in Arad county. After the initial closing, Costin continued to assist the client with several changes to the original transaction.
  • Advising a top Romanian bank on the  structuring, preparing and negotiation of transaction documents for a credit facility of EUR 24,000,000 to one of the major companies in the food market for the development of state-of-the-art cold storage facilities.
  • Advising a top Romanian bank on the structuring, preparing and negotiation of the transaction documents for a credit offer for the development of a wind farm.
  • Advising a top Greek bank in relation a credit facility of EUR 75,000,000 to finance the acquisition of a 50% stake in the capital of a local developer of several large retail centres and shopping malls.
  • Advising a top Greek bank on the restructuring of a credit facility of more than EUR 80,000,000 for the development of one of the largest residential projects in Bucharest, and the subsequent adjudication of the project and transfer to an off-shore SPV.
  • Advising an Austrian bank about restructuring a EUR 27,000,000 loan granted for the development of an industrial park near Bucharest.
  • Advising an Austrian bank on the structuring, preparing and negotiaton of  the transaction documents for a credit facility of EUR 19,000,000 for a developer based in Israel for the construction of a shopping mall.
  • Advising a top Greek bank and its Romanian subsidiary on the structuring, preparing and negotiation of the transaction documents for a credit facility of EUR 48,000,000 for a developer based in Israel for the construction of a shopping mall in Constanta. The transaction was structured as a club deal that also involved two other banks.
  • Assisting an international financial corporation in relation to a credit facility of EUR 10,000,000 for  a Romanian company in the glass market.
  • Advising a multi-national group involved in the production of refrigerators about a highly complex financing and refinancing transaction of several hundred million euros, secured with a full set of corporate guarantees and real security interests.
  • Assisting n developer based in Israel about a credit offer of more than EUR 60,000,000 for the development of a residential project in Bucharest.
  • Assisting a real estate group about financing transactions for the development of several office buildings in Bucharest, each in the range of tens of millions of euros.

II. Competition law

  • Costin has conducted competition law training sessions with senior management and sales executives, giving them an increased awareness of the importance and challenges of competition law. His efforts prompted several of his clients to request more detailed training sessions in this area.
  • Costin  assisted and represented Allianz Ţiriac Asigurări de Viaţa in the Competition Council’s cartel case. He was responsible for analysing, preparing and conducting the company’s defence at the official hearings. This was one of the very few cartel cases in Romania where no fine was applied, contrary to recommendations set out in the statement of objections.
  • Assisting one of the largest tobacco companies in its dealings with the Competition Council’s cartel and price fixing investigation by providing a “devil’s advocate” exercise to objectively assess the merits of the case, and build an effective defence to the Competition Council’s allegations. After significant efforts over 5 years, the investigation was closed without any charges against the company.
  • Assisting the client, Dafora, in the Competition Council’s cartel case. Costin helped construct the client’s defence in record time, due to his last minute engagement, and he also conducted the company’s defence during the official hearings. His efforts resulted in a significant fine reduction to less than 30% of the initial amount proposed in the statement of objections.
  • Assisting a telecoms company by directing a mock dawn-raid at their premises to assess how company personnel would react to an unannounced inspection by the Competition Council and to identify potential areas of risk. Following the mock raid, he conducted a training and Q&A session for the company.

Latest deals

Deals per practice area
Show allBanking & Finance
World Class Romania - Polish investment (BF)
Banking & Finance

Advising World Class, the largest fitness clubs operator in Romania during the initial due-diligence process in relation with, and negotiation of, an alternative financing structure from a Polish closed-end investment fund.

VTB Bank Europe (BF)
Banking & Finance

As co-counsel with the office of White & Case, SAA has assisted VTB Bank (Europe) SE on a financing in the amount of EUR 124 mil granted to Chimcomplex S.A. Borzesti for the acquisition of several asset bundles from Oltchim SA. The team, led by Costin Teodorovici provided legal assistance on matters of Romanian Law in relation to transaction structuring and the Romanian security package, as well as in relation to certain other relevant matters including insolvency, real estate and environmental law issues.

World Class “Stay Fit Gym Oltenitei” (BF)
Banking & Finance

Stratulat Albulescu Attorneys at Law assisted World Class Romania, the leader in the fitness industry in Romania, with the acquisition of a new fitness club, an area of more than 1300 sq. From the outset of this project, and throughout the entire process, our lawyers were actively involved, the successful team being led by Partner Ramona Iancu.

First Property / MAESTRO (BF)
Banking & Finance

Stratulat Albulescu Attorneys at Law assisted First Property Group PLC, an award winning property fund manager and investor with operations in the UK, Poland and Romania, in conjunction with a club of investors, on the acquisition of the MAESTRO BUSINESS CENTER Office Building located in Cluj -Napoca, Romania. The assistance provided covered all legal aspects of the transaction from the outset to the financing of the acquisition.

Assurant (BF)
Banking & Finance

Assisting Assurant and the UK based insurance intermediary by providing an in-depth analysis of the stage of implementation of the Insurance Distribution Directive in Romania.

World Class Romania (BF)
Banking & Finance

We assisted World Class, the largest fitness clubs operator in Romania, in the process of amending existing facilities and obtaining new financing facilities from Raiffeisen Bank Romania, funds that were meant for financing further acquisitions of fitness clubs in Romania.

EDS Group (BF)
Banking & Finance

Advising EDS Group during a complex process of securing EUR 4 million financing facilities from Piraeus Bank Romania to partially finance the acquisition price payable by EDS Group in an M&A deal concerning an important print business in Romania.

Willis Towers Watson (BF)

Assisting Willis Towers Watson, a leading global advisory, broking and solutions company, on a continual basis, reviewing company’s general and AML policies.

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