VASS Lawyers ended the year 2012 with a slight increase, in line with the trend of the past four years. However, cyclical workload was reflected both in the evolution of monthly revenues, and in a greater pressure on fees, deadlines and, hence, on the team of lawyers.
Public procurement prevailed within VASS Lawyers portfolio, but with a pronounced emphasis on EU-funded projects. Thus, VASS Lawyers helped many beneficiaries of EU funds in the process of awarding public procurement contracts. In addition, the fact that a large number of beneficiaries were applied financial corrections generated a new niche of interest for the law firm that participates in such projects with values up to 52 million lei. Last but not least, the success rate of the claims submitted before the NCSC and complaints filed with the courts of appeal in the country increased in 2012 to over 90%.
Public-private partnerships will enjoy at least as much attention from VASS Lawyers, the efforts in this direction being started since last May together with the launch of the first blog dedicated to PPPs in English, www.ppp -romania.eu.
“In January 2013, ESPP published the section dedicated to selection notices and awarding notices for PPP contracts, without which their launching was not possible. Therefore, given the green light to initiate complex projects, especially for construction and infrastructure sector, VASS Lawyers is prepared with a top team in this area. For us, it is the ace up our sleeve, together with EU funded projects “, Iulia Vass, VASS Lawyers Managing Partner.
Amid an uncertain and difficult economic situation, 2012 brought a significant increase both in the segment of litigation relating to contracts with European financing or debt collection, and in the segment of commercial arbitration. These large projects played a decisive role in the evolution of VASS Lawyers’ turnover for 2012, including the earned success fees. An example in this respect is the representation before the Court of International Commercial Arbitration next to the Chamber of Commerce and Industry of Romania of several construction and infrastructure companies, in disputes with stakes of up to 3 million Euro.
“2012 raised the bar on the law market and the fact that in such a competitive year we were awarded the distinction “Team of the Year in Public Procurement, Concessions and PPP” can only encourage us to take on ambitious plans for 2013. For this reason, we will increase our team of lawyers specialized in public procurement, PPPs, corporate, litigation and arbitration. In addition, given the success of the last year VASS Lawyers Academy program, we have already begun preparing a new edition, in collaboration with Achieve Global and ELSA Bucharest“ Iulia Vass, VASS Lawyers Managing Partner.