Musat: Only five law firms exceeded €10 mln in business in 2007

Gheorghe Musat, the company’s founder and Musat&Asociatii Senior Partner, said only four other law firms exceeded the €10 mln threshold in 2007, namely Nestor Nestor Diculescu Kingston Petersen (NNDKP), Tuca, Zbarcea&Asociaţii, Linklaters and CMS Cameron McKenna.

“We advanced on the market growth rate, and most of our competitors had high annual growth rates compared to the year before,” Musat said.

Another five law firms - Popovici Nitu&Asociatii, Stoica, Salans, Badea Clifford Chance and Bostina si Asociatii - posted €5-7.7 mln in turnover. “This is proof that local law firms leader, as opposed to other former communist countries, where the market is dominated by foreign law firms,” Musat added.
Musat and Ion Nestor, the founder of NNDKP, are seen as the pioneers of business law in Romania.

NNDKP, Linklaters and CMS Cameron McKenna did not publish 2007 financial results. Tuca, Zbarcea&Asociaţii posted €12.1 mln worth of business, while NNDKP confirmed it exceeded the €10 mln threshold. Bostina si Asociatii’s turnover amounted to €14.4 mln.