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August 1, 2021

Hammond, Minciu & Associates involved in the sale of 19th C. Romanian Castle

Hammond, Minciu & Associates have assisted London-based OMC Investments Ltd. in the acquisition of the Salbek Castle from the village of Petris, in the northwest Romanian county of Arad.

OMC will use the Salbek Castle to develop the activities of the Botnar Foundation, vreating 60 jobs in the village. Marcel Botnar, who left Romania in 1960, was a well-known business man who at one stage was rated as the third wealthiest man in Europe.

 The transaction for the 19th century castle and its 17 hectares domain, was completed over a period of three months.  As well as assisting in negotiating the purchase price and auction contract, the Firm advised throughout the transaction on ownership structuring, finance structuring taxation matters as well as advice on property issues and general Romanian law.  The Firm carried out a detailed due diligence in respect of the title which involved looking at documents prior to 1920. Alina Minciu advised on Romanian real estate law and Civil law aspects of the transaction.  The transaction also raised a number of issues regarding purchase by a foreign trust of real estate assets in Romania.

The Firm worked closely with the international advisors of OMCI to close the transaction.

The team was led by Nicholas Hammond and partner Alina Minciu, assisted by Ana-Maria Alexandru..

Hammond, Minciu and Associates (http://www.hammond-minciu.com)  is a full-service solicitors’ Firm headquartered in Bucharest. The company is the unique representative in Romania of Globalaw, an international organization which includes solicitors’ firms from around the world.

HM&A offer specialised expertise on financial issues, as well as assistance in litigations and family law. The Firm concentrates on insurance, aviation, M&A, Oil and Gas, PPP, as well as in other fields. It also works with any type of litigations, from the simple debt collection to international procedures concerning the implementation of trans-border decisions.

hammondNicholas Hammond is a highly experienced qualified English Solicitor who has been practising and working in Romania since 1990.  He is a registered foreign lawyer with the Bucharest Bar.  His area of expertise is in relation to all types of commercial matters particularly IT and IP,   insurance M&A and aviation, as well as general corporate matters.

Alina Minciu is a Romanian lawyer with particularminciu expertise in finance and corporate matters.  She has worked for well-known financial institutions, as well as large corporate practises.  Her particular areas of interest are real estate and finance, as well as IP, environment and associated fields.

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