The top ten law firms on the Romanian market collected 87.6million euros in revenues last year, down by merely 1% comparedwith the previous year. This was one of the markets with the lowestdeclines in the economy in 2009, the hardest year of the lastdecade, reveals a ZF analysis based on the annual revenuestatements filed with the Financial Administration.
Lawyers continued to make money, even though the traditionalmarkets, such as mergers and acquisitions, real estate or bankloans collapsed, as did the business of the retail and constructioncompanies.
The market leader in terms of revenues was the team of lawyersat Tuca, Zbarcea & Asociatii again last year, followed byNNDKP, Musat & Asociatii, Bostina & Asociatii and Popovici,Nitu & Asociatii. Tuca Zbarcea collected 27.8 million euroslast year, according to the annual revenue statements, but theamount the firm actually made stood at 22.7 million euros, with therest of the amount collected via other companies with which theyworked on legal advice projects.
Tuca Zbarcea managed to grow last year because of its shift infocus towards fields such as energy, arbitration, litigation andrestructuring, of the fact that it collected a series of debts fromprevious years, as well as because of success fees from energy,international arbitration, real estate projects andlitigations.
Ion Nestor and Gheorghe Musat's firms which had vied over thetop two positions for fifteen years are now second and third on themarket.
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