Press Room

Zamfirescu Racoti Predoiu wins two disputes in the favor of The National Bank of Romania

Bucharest, February 28, 2012 - In the context in which the activity of the courts of law is extremely loaded by the large number of trials in which the commercial banks and other non-banking financial institutions are parties, the disputes regarding the activity of The National Bank of Romania, of authorization and prudential supervision of the credit institutions, are extremely rare. Zamfirescu Raco?i Predoiu Attorneys at Law successfully represented its client, The National Bank of Romania in two such disputes, solved favorably, irrevocably, by The High Court of Cassation and Justice, fiscal and administrative contentious section.

In both cases, The High Court of Cassation and Justice rejected the appeals filed by the natural persons who occupied management positions in the banking system, means of appeal filed against the decisions of the Board of Directors of The National Bank of Romania regarding the withdrawal, as to these, as sanction, of the approval to exercise management responsibilities in a commercial bank. The Supreme Court, analyzing the conditions of application of such sanctions, eliminated the criticisms against the decisions of The National Bank of Romania, by irrevocable court decisions.

“I can say, without being wrong, that such cases raised multiple and interesting law issues, successfully managed by our team specialized in the banking and financial area, which team is presently working with a portfolio of over 1,500 disputes for clients representing credit institutions and non-banking financial institutions”, Calin-Andrei Zamfirescu, Senior Partner of Zamfirescu Racoti Predoiu, declared.

The team dedicated to this project was formed of Calin- Andrei Zamfirescu, Senior Partner, and Laura Retegan, Senior Associate.