{"id":2431,"date":"2020-04-14T06:46:09","date_gmt":"2020-04-14T06:46:09","guid":{"rendered":"https:\/\/www.rtpr.ro\/uncategorized-ro\/ma-adapting-to-the-covid-19-outbreak-food-for-thought-episode-5\/"},"modified":"2022-06-27T13:21:04","modified_gmt":"2022-06-27T13:21:04","slug":"ma-adapting-to-the-covid-19-outbreak-food-for-thought-episode-5","status":"publish","type":"post","link":"https:\/\/www.rtpr.ro\/ro\/rtpr-emergency-journal\/ma-adapting-to-the-covid-19-outbreak-food-for-thought-episode-5\/","title":{"rendered":"Adaptarea pie\u021bei de M&#038;A la r\u0103sp\u00e2ndirea Covid-19. C\u00e2teva aspecte de avut \u00een vedere (Episodul 5)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2431\" class=\"elementor elementor-2431 elementor-1541\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-64ee15af elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"64ee15af\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6767e312\" data-id=\"6767e312\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0ab5dc9 elementor-tabs-view-horizontal elementor-widget elementor-widget-tabs\" data-id=\"0ab5dc9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-tabs\">\n\t\t\t<div class=\"elementor-tabs-wrapper\" role=\"tablist\" >\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-1121\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-1121\" aria-expanded=\"false\">Rom\u00e2n\u0103<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<div class=\"elementor-tabs-content-wrapper\" role=\"tablist\" aria-orientation=\"vertical\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-1121\" aria-expanded=\"false\">Rom\u00e2n\u0103<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-1121\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-1121\" tabindex=\"0\" hidden=\"false\"><p><span style=\"color: #b23400;\"><strong>Episodul 5: Documentele tranzac\u021bionale \u2013 cu sau f\u0103r\u0103 clauza privind schimb\u0103rile adverse semnificative (MAC)? Ar putea for\u021ba major\u0103\/ impreviziunea s\u0103 fie considerate un \u00eenlocuitor pentru clauza MAC \u00een dreptul rom\u00e2nesc?<\/strong><\/span><\/p>\n<p>Dup\u0103 cum am anticipat \u00een episoadele precedente, \u00een acest episod vom aborda clauzele privind schimb\u0103rile adverse semnificative (clauzele <strong>MAC<\/strong>) \u0219i poten\u021bialii \u00eenlocuitori ai acestora prev\u0103zu\u021bi de legea rom\u00e2n\u0103.<\/p>\n<p><span style=\"color: #b23400;\"><strong><em>Clauzele MAC.<\/em><\/strong><\/span> Clauzele MAC generale legate de evolu\u021bia pie\u021bei nu reprezentau o practic\u0103 constant\u0103 \u00een pia\u021ba local\u0103 de M&amp;A din ultimii ani \u0219i ne-am a\u0219tepta ca pia\u021ba s\u0103 fie ezitant\u0103 \u00een ce prive\u0219te o schimbare rapid\u0103 din aceast\u0103 perspectiv\u0103. Pe de alt\u0103 parte, este de a\u0219teptat ca clauza MAC mai uzual\u0103 legat\u0103 de evolu\u021bia activit\u0103\u021bii societ\u0103\u021bii s\u0103 fie negociat\u0103 intens, v\u00e2nz\u0103torii dorind s\u0103 asigure certitudinea tranzac\u021biei de M&amp;A pe care au semnat-o, iar cump\u0103r\u0103torii dorind s\u0103 \u00ee\u0219i garanteze posibilitatea de a \u00eenceta contractul \u00een cazul \u00een care situa\u021bia se \u00eenr\u0103ut\u0103\u021be\u0219te \u00een mod semnificativ. Rezultatul unor asemenea negocieri va depinde, desigur, de diverse aspecte specifice tranzac\u021biei, inclusiv puterea de negociere a p\u0103r\u021bilor \u0219i implementarea altor mecanisme menite s\u0103 adreseze alocarea riscurilor \u00eentre p\u0103r\u021bi.<\/p>\n<p>\u00cen tranzac\u021biile \u00een care o clauz\u0103 MAC va fi inclus\u0103, printre aspectele care ne-am a\u0219tepta s\u0103 fie avute \u00een vedere \u00een negocierea clauzelor MAC se num\u0103r\u0103 (i) dac\u0103 o asemenea clauz\u0103 va trebui activat\u0103 de un singur eveniment specific sau dac\u0103 efectele globale ale r\u0103sp\u00e2ndirii Covid-19 vor fi avute \u00een vedere pentru atingerea pragului pentru aplicarea clauzei MAC \u0219i (ii) dac\u0103 vor fi avute \u00een vedere doar efectele actuale ale evenimentului invocat sau va fi luat \u00een calcul \u0219i poten\u021bialul impact viitor asupra activit\u0103\u021bii societ\u0103\u021bii.\u00a0<\/p>\n<p><span style=\"color: #b23400;\"><strong><em>For\u021ba major\u0103 \u0219i impreviziunea.<\/em><\/strong><\/span> Figurile juridice alternative, specifice dreptului rom\u00e2nesc, care ar putea aborda preocup\u0103rile adresate, de regul\u0103, printr-o clauz\u0103 MAC \u00eentr-o tranzac\u021bie de M&amp;A sunt deja arhicunoscutele for\u021ba major\u0103 \u0219i impreviziunea, analizate \u00een detaliu \u00een foarte multe articole publicate \u00een ultimele s\u0103pt\u0103m\u00e2ni. Pentru a invoca for\u021ba major\u0103, trebuie s\u0103 se fi produs un eveniment imprevizibil. R\u0103sp\u00e2ndirea Covid-19 ne-a luat prin suprindere pe majoritatea dintre noi, \u00eens\u0103 \u0219i-a pierdut deja caracterul de noutate, astfel c\u0103 ar putea exista a\u0219tept\u0103ri \u00een sensul c\u0103 invocarea r\u0103sp\u00e2ndirii Covid-19 ca un eveniment de for\u021b\u0103 major\u0103 \u00een leg\u0103tur\u0103 cu o tranzac\u021bie de M&amp;A care va fi semnat\u0103 \u00een viitor va avea \u0219anse de succes foarte reduse. \u00cen ce prive\u0219te impreviziunea, una dintre condi\u021biile ce trebuie \u00eendeplinite pentru a putea fi invocat\u0103 este aceea ca condi\u021biile de pia\u021b\u0103 s\u0103 se fi schimbat \u00eentr-un mod imprevizibil ulterior \u00eencheierii contractului cu for\u021b\u0103 juridic\u0103 obligatorie. Chiar dac\u0103 poten\u021biala lips\u0103 a caracterului de noutate a r\u0103sp\u00e2ndirii Covid-19 ar putea \u00eempiedica, de asemenea, invocarea cu succes a impreviziunii, \u00een func\u021bie de evolu\u021bia ulterioar\u0103 a pandemiei, nu putem exclude posibilitatea de a construi un argument pertinent privitor la lipsa oric\u0103ror mijloace de a prevedea un efect viitor specific.<\/p>\n<p>\u00cen orice caz, legea rom\u00e2n\u0103 prevede \u00een mod clar faptul c\u0103 impreviziunea \u0219i for\u021ba major\u0103 pot fi invocate doar dac\u0103 p\u0103r\u021bile nu au agreat contractual s\u0103 exclud\u0103 aplicarea lor. Av\u00e2nd \u00een vedere mediul de business actual, ne-am a\u0219tepta ca orice tranzac\u021bie sofisticat\u0103 de M&amp;A s\u0103 exclud\u0103 \u00een mod expres aplicarea acestor figuri juridice, iar p\u0103r\u021bile s\u0103 abordeze incertitudinea prin negocierea unor mecanisme de alocare a riscurilor clare \u0219i configurate pentru tranzac\u021bia avut\u0103 \u00een vedere \u00een loc s\u0103 recurg\u0103 la remediile generale de drept rom\u00e2nesc men\u021bionate mai sus.<\/p>\n<p>V\u0103 rug\u0103m s\u0103 ave\u021bi \u00een vedere faptul c\u0103 aceast\u0103 serie de articole vizeaz\u0103 doar poten\u021bialul impact al consecin\u021belor r\u0103sp\u00e2ndirii Covid-19 asupra tranzac\u021biilor de M&amp;A care vor fi semnate \u00een viitor \u0219i nu este menit a aborda \u00een vreun fel poten\u021bialele consecin\u021be asupra tranzac\u021biilor de M&amp;A deja semnate, cu privire la care ar fi necesar\u0103 o analiz\u0103 minu\u021bioas\u0103 \u0219i semnificativ mai complex\u0103 care s\u0103 aib\u0103 \u00een vedere particularit\u0103\u021bile fiec\u0103rei asemenea tranzac\u021bii.<\/p>\n<p>\u00cen urm\u0103torul episod, vom vorbi despre impactul pe care ne-am a\u0219tepta s\u0103 \u00eel aib\u0103 r\u0103sp\u00e2ndirea Covid-19 asupra garan\u021biilor \u0219i a asigur\u0103rilor de tip W&amp;I. <span style=\"color: #b23400;\"><strong>R\u0103m\u00e2ne\u021bi aproape.<\/strong><\/span><\/p>\n<p>\u00a0<\/p>\n<p><em>*Aceast\u0103 ePublica\u021bie este furnizat\u0103 de Radu T\u0103r\u0103cil\u0103 P\u0103durari Retevoescu SCA \u00een scop exclusiv de informare \u0219i nu reprezint\u0103 asisten\u021b\u0103 juridic\u0103 sau o ofert\u0103 pentru acordarea de asisten\u021b\u0103 juridic\u0103. Distribuirea acestui document nu d\u0103 na\u0219tere unei rela\u021bii avocat-client. \u00cen cazul \u00een care dori\u021bi s\u0103 solicita\u021bi asisten\u021b\u0103 juridic\u0103 cu privire la oricare dintre aspectele analizate \u00een acest document, v\u0103 rug\u0103m s\u0103 v\u0103 adresa\u021bi persoanei obi\u0219nuite de contact \u00een cadrul Radu T\u0103r\u0103cil\u0103 P\u0103durari Retevoescu SCA la +40 31 405 7777.<\/em><\/p>\n<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Episodul 5: Documentele tranzac\u021bionale \u2013 cu sau f\u0103r\u0103 clauza privind schimb\u0103rile adverse semnificative (MAC)? Ar putea for\u021ba major\u0103\/ impreviziunea s\u0103 fie considerate un \u00eenlocuitor pentru clauza MAC \u00een dreptul rom\u00e2nesc?\u2026<\/p>\n","protected":false},"author":3,"featured_media":2290,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[76],"tags":[],"class_list":["post-2431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rtpr-emergency-journal"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/posts\/2431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/comments?post=2431"}],"version-history":[{"count":7,"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/posts\/2431\/revisions"}],"predecessor-version":[{"id":3822,"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/posts\/2431\/revisions\/3822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/media\/2290"}],"wp:attachment":[{"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/media?parent=2431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/categories?post=2431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rtpr.ro\/ro\/wp-json\/wp\/v2\/tags?post=2431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}