- What is the Corporate Counsel 100?
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- Top 100: Africa
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- Top 100: United Kingdom - Rising Stars
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- Top 100: United States - Rising Stars
- How do the awards work?
- The Legal 500 United Kingdom Awards 2014
- The Legal 500 United States Awards 2014 - In-house winners
- The Legal 500 United States Awards 2014 - Law firm winners
- The Legal 500 Latin America Awards (coming soon)
- The Legal 500 Germany Awards (coming soon)
- Frequently asked questions
- Legal market overview
- Banking, finance and capital markets
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Legal market overview
The Greek economy may remain in turmoil, but for the country’s largest law firms business has been relatively buoyant. Foreign investors are seeking bargains in the market, which has spurred corporate activity. Meanwhile the government’s privatisation programme, as conducted by the Hellenic Republic Assets Development Fund (HRADF), and the recapitalisation and consolidation of the banking sector, as overseen by the Hellenic Financial Stability Fund (HFSF), have generated considerable activity. The shipping market has also responded to the improved global economic climate, and shipping lawyers report a revival in ship financings and newbuilds, adding to the refinancings and disputes which have dominated the practice area in recent years. This uptick in maritime work has been good news for several of the UK law firms in the market, such as Norton Rose Fulbright, Watson, Farley & Williams – Greek Branch, Ince & Co and Stephenson Harwood.
Whether this overall increase in activity represents a genuine turnaround in the economy, or is simply an artificial market pumped up by government intervention, remains to be seen. Nevertheless, the ‘flight to quality’ that such deal activity entails has meant that the largest firms, including Karatzas & Partners Law Firm, Koutalidis Law Firm, Kyriakides Georgopoulos Law Firm (KG Law Firm), M & P Bernitsas, and PotamitisVekris, have been relatively busy.
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Overview of the main recent developments addressing issues of abuse of dominance in Greece. Latest application of article 2 of Law 3959/2011 (equivalent to 102 TFEU) by the Hellenic Competition Commission and the Greek courts. dominance_2014_greece
Presentation of the Greek legal framework on the protection of free competition (L.3959/2011), which generally follows articles 101, 102 TFEU and the framework of EU Regulation 1/2003. The chapter presents recent law changes, as well as the trends in Greek antitrust practice, together with an overview of the most significant cases brought before the Hellenic Competition Commission and the Greek Courts. ear_greece_2014
Presentation of last year's enforcement by the Hellenic Competition Commission (‘HCC'). A brief overview of the most interesting developments in the area of Greek competition law, including recent antitrust cases examined by the HCC and the Greek courts. greece_2014
In Galaktoviomichania Larisis AE v I Kesioglou & Sia OE (Opposition No B 2 107 822, December 18 2013), the Opposition Division of the Office for Harmonisation in the Internal Market has upheld in part an opposition against the registration of the trademark OLYMPOS FOODS-OLYMPOS COMMODITIESOLYMPOS MEDITERRANIAN-OLYMPOS ORGANICS-K&K FINANCE.
In LOGO AE v CISA SpA (Decision No 249/2014, January 30 2014, notified only recently), the Greek
The special IP law chamber of the Athens Multi-Member Court of First Instance has issued its decision in a case involving the famous 'Vara' buckle device, an internationally renowned symbol that has been closely associated with shoe designer Salvatore Ferragamo for more than 30 years.
Over the last six years, Greece has been under an austerity restructuring and adjustment programme, receiving extended support from European financial institutions and international creditors, in an attempt to tackle its structural weaknesses, overly high deficits and incessant market stagnation.
M&As in Greece: Stellar opportunities for profits of emerging markets in the most mature market in..Lately, domestic and international financial and corporate players are looking closely on the Athens Exchange seeking for safe yet high return investment opportunities in Greece and the wider South East Europe through takeover bids on securities of companies established in Greece and listed on the local exchange with significant presence in the wider region. It is common knowledge that M&As consist the most transparent and efficient way to gain control of the desired "target" company, following a public offer on all or a part of the target's capital. However, this does not seem to be their unique advantage in Greek legal order. The speed of their conclusion, with an average duration of two months, allows the investor to begin with his businesses without considerable waste of time and resources. As of this, he is in position to choose a board of his own preference almost the very following day of the expiry of the public offer's time and to focus on what he primarily intended and is good at - making business.
Kyiv, 11 August 2014 - Avellum Partners announced that it has acted as the Ukrainian legal counsel to Ferrexpo in connection with the following three export financing credits:
Avellum Partners announced that it has acted as the Ukrainian legal counsel to Ferrexpo in connection with the acquisition of an electrified railway of over two kilometers long and a power line.
Avellum Partners acted as the legal counsel to the owners of a leading Ukrainian FMCG producer in connection with its sale to a private investor.
KKR, a leading global investment firm, announced an investment in arago AG ("arago"). arago is a German-based high-tech company specialised in IT automation. KKR will acquire a minority stake in arago and support the global roll-out of arago's product portfolio with growth equity.
Funds Legal and Regulatory Update- Ogier
In early August 2014 „Popov & Partners" Law office was selected by the Ministry of Justice of the Republic of Bulgaria to perform public procurement named „Research and analysis of existing systems for enforcement in the EU Member States, research and exchange of the European good practices related to the construction of electronic system/portal for enforcement". The research is in the framework of „Effective and transparent enforcement, integrated with national and European electronic legal systems" implemented with the grant of the Operational Programme „Administrative Capacity", co-financed by the European Union through the European Social Fund.
In the middle of July 2014 "Popov and Partners" law office was awarded a public procurement, announced by the Ministry of Finance, with subject matter "Analysis of the structure of the Managing Authority of Operational Programme "Administrative Capacity" (OPAC) and development of an offer for structure of the Managing Authority of Operational Programme "Good Governance" (OPGG) in relation to the 2014-2020 programming period". The public procurement is part of a project for analysis of the structure of the Ministry of Finance and Operational Programme "Administrative Capacity" Directorate, realized with the financial support of Operational Programme "Administrative Capacity" (OPAC), co-funded by the European Union through the European Social Fund. The most fundamental aim of all project activities is to guarantee the effective execution of Operational Programme "Administrative Capacity" Directorate at the Ministry of Finance, in its capacity of Managing authority of the new Operational Programme "Good Governance" 2014 - 2020, which will replace Operational Programme "Administrative Capacity" and Operational Programme "Technical Assistance", implemented during the past programming period.
The international media company Bertelsmann is increasing its ownership of Gruner + Jahr to 100 percent by acquiring Jahr Holding's 25.1 percent shareholding. The transaction was agreed among Gruner + Jahr's shareholders. Bertelsmann's acquisition of the remaining shares in Gruner + Jahr will become effective on November 1, 2014. The purchase price is being paid in cash, and the parties have agreed not to disclose the amount.
Hengeler Mueller advises LEG Immobilien AG on acquisition of portfolio of around 9,600 residential uA subsidiary of LEG Immobilien AG ("LEG"), acting as the buyer, and Deutsche Annington Immobilien SE ("Deutsche Annington"), acting as the seller, yesterday signed an agreement for a portfolio transaction for around 9,600 residential units and related employees in North Rhine-Westphalia by way of share deal. The total transaction volume amounts to €484m. Following antitrust approval, the closing of the transaction is expected by the end of October 2014.