Press Room

The New Civil Code

Bucharest, October 18, 2011 – Zamfirescu Racoti Predoiu (ZRP), together with Saptamâna Financiara and Fin.ro Magazin, organized yesterday, October 17, 2011, the conference:

“How Will the New Civil Code Change Business Rules?”


”We are in the presence of an important normative act regulating private law legal relations, are of practice circumscribing to general law. The authors of the new Romanian Civil Code managed to incorporate in its contents areas of practice that were unjustifiably eliminated, such as family law, natural or legal entity, extinctive prescription etc., as well as of European and international institutions, unprecedented in our law, such as movable mortgage, fiducia, administration of another entity’s estate”, said Calin-Andrei Zamfirescu, Senior Partner ZRP at the conference opening.


In his speech, The Minister of Justice, Catalin Predoiu, was a supporter of the monism of the current Civil Code, proving that the civil law-commercial law dualism has not found proponents in the Romanian law, in this sense quoting doctrine opinions expressed even since the beginning of the 20th Century. The recovering by the Civil Code of the trait to quasi-unanimously regulate the private law legal relations happily connects to its new contents, capable of answering the challenges of an emerging economy and financial market permanently subduing globalization and abrading. His Excellency also underlined the importance of modification and restructuring of the entire Romanian positive law, which process has already established the areas of corporate law and the insolvency law, following important regulations, such as the insurance law, securities law, freelancing and liberal profession law etc.

 

The event was a professional debate supported by the intervention of well-known personalities of the Romanian academic environment. Professor Lucian Mihai, the Chairman of the Commission for the Drafting of the New Civil Code presented the theme “Ephemeral and Perennial in the Law for Application of The New Civil Code”, and Associate Professor Marian Nicolae, in his turn member of the Commission for the Drafting of The New Civil Code approached the topic “Extinctive Prescription Civil Conventions”, explaining the importance of reintroduction in civil law of this new regulation.


ZRP attorneys presented topics of great interest for the business environment, such as Financing Structure Guarantees - Elena Iacob, Managing Associate ZRP, Civil Conventions on Extinctive Prescription - Laura Retegan, Senior Associate ZRP, Public Property Regime Regulated by The New Civil Code - Catalin Micu, Senior Associate ZRP.

The event reunited over 180 law specialists from large corporations, public institutions, notaries and attorneys at law.


On this occasion, Saptamâna Financiara and Fin.ro Magazin launched the two volumes of The Civil Code, annotated by Zamfirescu Racoti Predoiu attorneys at law together with experts of prestigious law firms.