The market is estimated to decline by 10-30 percent this year. The difference compared to other years is the change in the mentality of lawyers: more work for the same or even lower tariffs, and struggling to attract and hold on to clients.
“In consultancy, revenues come mainly from loan restructuring, staff restructuring, corporate reorganization, and regular assistance. In the field of litigation, the largest share is made up of commercial litigation, receivable recoveries, bankruptcies, and work litigation. Intellectual property litigation, the right of competition, and arbitrage continue to increase, and these have a significant share,” said Ioana Racoti, Managing Partner of Zamfirescu Racoti Predoiu, a company whose turnover amounted to €2.6 million at the end of August, up 15 percent year-on-year.
“2009 was a year in which [people] worked hard, during which “spectacular” projects were very, very rare, and in which the “no job too small” mentality appeared in Romania,” Doru Bostina, Managing Partner of the Bostina&Asociatii law firm told Business Standard. The official estimates that the firm’s net sales will rise by an annual 10-12 percent this year.
