Musat & Asociatii invoices fees worth 15.7m euros

Law firm Musat & Asociatii (Musat & Partners), one of the largest players on the local legal market, invoiced fees worth 15.7 million euros in 2007, after revenues amounted to 12.8 million euros (VAT included), announced company representatives, who estimate the top ten firms on the market posted cumulated revenues worth over 80 million euros. VAT-less fees invoiced by Musat & Asociatii amounted to 14.3 million euros, while actual sums collected stood at 11.6 million euros, company representatives specified. “Up until now, as far as we could see from the media, financial results were reported differently by each particular law firm, in a less than transparent manner: the revenues announced were sometimes higher than the actual revenues, or included sums derived from other activities, not necessarily connected with the legal practice,” says Catalin Baiculescu, co-managing partner of the firm.