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Spanish firm Garrigues is pulling out of Romania and will make Poland the centre of its Central and Eastern European practice.
The firm will exit Romania by the end of the year, with the lawyers from its office there spinning out into a standalone firm. Garrigues will maintain a best friends agreement with the lawyers in the Bucharest office.
The firm will now handle all CEE matters out of its Warsaw office.
“These decisions are part of our current strategy in the CEE whereby the firm will centralise all its functions and services through its Warsaw office, an efficient gateway to all our clients’ needs in this region”, said Alejandro Miquel, head of Garrigues’ CEE operations.
Garrigues opened in Bucharest in July 2008 via a merger with Romanian law firm Mares & Asociatii. The firm entered the market on the back of a boom in real estate and construction that dried up as the financial crisis took hold (12 January 2009).