“At the beginning of 2008 we were expecting a 25-30 percent growth rate in 2009, a natural estimate considering the upward trend in the past few years. Because of the current economic context, we revised our estimate and expect to maintain turnover at its 2008 level,” Ioana Racoti, one of the law firm’s Managing Partners, told Business Standard.
The company is expecting the merger and acquisition (M&A) business to increase in a few months, a normal effect of the economic crisis. Business law firms are currently facing a dramatic drop in fields of activity, such as real estate, equity markets, banking&finance, and M&A. However, segments such as litigation, arbitration, bankruptcy, and restructuring are expected to grow in the near future.
The local business law market is dominated by Romanian companies such as Nestor Nestor Dinculescu Kingston Petersen (NNDKP), Musat&Asociatii, Tuca Zbarcea&Asociatii, Popovici Nitu&Asociatii, and Bostina&Associates.
