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New legislative changes promote flexicurity in employment relations in Romania
The first part of 2023 continued last year's trend of substantial changes to Romanian labour legislation, which is of real interest to both employers and employees. As such, both Law no. 53/2003 on the Labour Code (“Labour Code”) and Law no. 367/2022 on social dialogue (“Law on Social Dialogue”) have undergone several changes, some aimed at clarifying legal issues identified in practice and others at promoting flexibility at work and work-life balance. In this article, we present the latest legislative changes, as well as our recommendations for their implementation. I. Amendments to the Labour Code The latest legislative amendments continue the European and national policies implemented in recent
Kinstellar advises SFC Solutions on the sale-and-leaseback of its industrial facilities to WDP Romania
Kinstellar is delighted to announce that it has advised SFC Solutions Automotive Romania, a leading automotive-parts producer, on the sale-and-leaseback transaction of an industrial site, to the Belgian logistics property developer, WDP Romania. The facility is situated in Arges county, in an established automotive production cluster centered around Dacia Renault’s production facilities. The facility has a gross lettable area of ca. 20,000 sqm and will be rented by the seller under a long-term lease. Our team’s work on the matter included assistance on all due diligence matters, negotiations and finalization of all transaction documents. Victor Constantinescu, Managing Partner of the Bucharest office