Musat: Receipts Rose 20% in the First 4 Months

05.09.2011 ZF English

Lawyer Gheorghe Musat, founder of Musat & Asociatii law firm, one of the strongest players on the market, is speaking about improving receipts after two years in which the crisis cut the company's turnover by one third, from EUR15.3 million in 2008 to EUR10.1 million in 2010.

Recession has hurt business lawyers as well, as a lot of investment projects have been blocked and companies have curbed their budgets, inclusively for legal consultancy, but lawyers are in their turn starting to speak about a pick-up in demand and not necessarily on the litigation or restructuring area, but in production as well.

"2011 is a year of transition, of leaving the crisis behind in the world of business. The private sector is registering a rebound and I'm referring to large players in industrial production, firms that put projects on hold, investments that were halted and are now being reactivated," Musat, 61, told ZF.

The rising investment appetite can be seen in the work volume of Musat & Asociaţii, a firm that includes around 100 lawyers and that ranked third in terms of receipts in 2010, with EUR10.1 million. "In the first four months there was a 15%-20% increase and the upward trend will undoubtedly continue. (…)," said Musat.