On 30 October 2018, the Bucharest Court of Appeal handed down a first-instance judgment to stay the execution of Order No. 1960/06.08.2018 issued by the National Agency for Fiscal Administration (ANAF). According to such Order, as of 10 November 2018 the market players trading wholesale energy products (i.e., oil, diesel oil, kerosene, liquefied petroleum gas and biofuel) are now bound to hold storage areas.
Given the major impact - first of all economic - of the aforementioned Order, this ruling is very important for such natural gas/oil company and is enforceable de jure with immediate effect.
According to ANAF Order No. 1960/2018, the wholesale of energy products can only be conducted under a certificate issued in accordance with the new requirements, which involves holding storage areas. The old certificates cease to be valid on 9 November 2018, i.e. after expiry of the 90-day term provided by the Order.
The legal team of Țuca Zbârcea & Asociații represented a leading natural gas/oil company trading wholesale energy products.
The legal team of Țuca Zbârcea & Asociații representing the client in court consisted of Christina Vlădescu (Partner), Diana Agafiței (Managing Associate) and Radu Chiran (Associate).