Musat si Asociatii law firm last year disbursed net profits worth 500,000 euros to each of its nine partners, while senior lawyers billed fees worth above 200,000 euros, stated Gheorghe Musat, the company's managing partner.
Musat, 57, chose not to disclose the value of revenues generated in 2006, but specified he would reveal the financial results as soon as he had filed the financial statement with the fiscal authorities.
The beginning of business law services in Romania, in the '90s, is linked to the names of Ion Nestor and Gheorghe Musat, who are still running two of the strongest law firms on the market.
Musat si Asociatii currently has over 75 lawyers providing legal assistance in a wide range of domains, with the company being most active in the domain of acquisitions.
"The M&A department had a significant contribution to turnover, of more than 30%, banking brought more than 20%, real estate and litigations over 15% each and the corporate/commercial department around 10%, though the private acquisitions field has been and still is our strong point," stated Musat.
The company has been involved in most deals on the domestic market, advising some international companies such as Enel, Occidental Oil & Gas or KBC, in the privatisation of Electrica Muntenia, Petrom or BCR.
"For over 10 years, Musat si Asociatii has been involved in almost all the major deals sealed in Romania, mostly on the side of private investors. As a matter of fact, during all these years, more than 80% of the firm's revenues have come from foreign clients, around 15% from Romanian private clients and just 2-3% from state-owned firms. From this point of view, we can say we are foreign investors' lawyers," says Musat.
A number of international law firms, such as Linklaters or Clifford Chance, have arrived on the market in recent years and the rising dyna
