Clifford Chance merges with Romanian ally
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Clifford Chance has merged with its Romanian ally Badea & Asociatii.
The firm first launched an office in Bucharest in June 2006 via an alliance with Badea.
The office now has four partners and 50 fee earners, including London capital markets partner David Eatough (pictured) who was transferred to Bucharest last year (The Lawyer, 27 June 2007).
Eatough said that further growth in the office would depend on the state of the Romanian economy going forward, which was uncertain. “The fundamentals of this country and this region are still very strong but the credit crunch will work its way through.”
He said that risk factors remained in the Romania and that the election did not
produce the clear results people would have liked.
However, Eatough added: “We are still extremely busy - our utilisation here is still around the 100% mark, which is amazing.”
He said that he would likely return to London in June 2009 at the contractual end of his two-year secondment.
Badea & Asociatii was founded in 2002 by Daniel and Nadia Badea.
The full merger with Clifford Chance will take effect from 1 May 2009.
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