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Legal market overview

The Greek legal market had hoped that the worst of the sovereign debt crisis was behind it, but its economy is still somewhat beholden to the country’s unpredictable political climate and, with new national elections having occurred in January 2015, it remains to be seen how this will affect workflow for Greece’s main commercial firms. However, the past year has been relatively stable, driven by state-led work: this included a major programme of privatisations led by the Hellenic Republic Asset Development Fund (HRADF), as well as the recapitalisation of Greece’s four main banks, which was led by the Hellenic Financial Stability Fund (HFSF). A good portion of this work has now been finished, which raises the questions of how and whether the private sector can fill the gap.

Bargain investments, however, can be found and there has been plenty of activity in the wind energy and tourism sectors. This value can also be found when it comes to legal advice, and clients often marvel at the comparably low fee rates of Greece’s leading law firms. Most of the full-service firms in the top tiers – including M & P Bernitsas, Potamitisvekris, Karatzas & Partners Law Firm, Koutalidis Law Firm, and Kyriakides Georgopoulos Law Firm (KG Law Firm) – have a broad array of highly qualified lawyers of international calibre, but charging services at a fraction of the price of international law firms.

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Legal Developments in Greece

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Press Releases worldwide

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  • Nairobi International Convention on the Removal of Wrecks, 2007

    On the 18th January 2015, Malta ratified the Nairobi International Convention on the Removal of Wrecks 2007, (hereinafter referred to as ‘the Nairobi Convention' or ‘the Convention').
  • Penkov, Markov & Partners welcome to Sofia colleagues from 19 countries

    On May 31 st and June 1 st 2015 Penkov, Markov & Partners hosted 38 colleagues – lawyers from most reputable law firms from 19 countries, including many European countries – Austria CHSH CerhaHempel Spiegelfeld Hlawati , Belgium Liedekerke Wolters Waelbroeck Kirkpatrick , Germany Noerr LLP , Portugal MLGTS , Switzerland ( Pestalozzi ), Liechtenstein ( Marxer & Partner ), Poland ( Wardynski & Partners ), the Czech Republic ( PRK Partners ), Hungary ( Nagy és Trócsányi ), Serbia ( JPM Jankovic, Popovic & Mitic ), Cyprus ( Dr. K. Chrysostomides & Co LLC ), Sweden ( Advokatfirman Vinge KB ), Lithuania ( Valiunas Ellex ), Scotland ( Maclay Murray & Spens LLP ), Slovenia ( Odvetniki Selih & partnerji ), as well as the US ( Butzel Long ; Bass, Berry Sims PLC ; Baker Botts LLP ; Steptoe & Johnson LLP ), Canada ( Farris, Vaughan, Wills & Murphy LLP ) and Singapore ( Rajah & Tann Singapore LLP .
  • Avellum strengthens its Dispute Resolution practice with hire of new partner, Dmytro Marchukov

    Avellum Partners welcomes Dmytro Marchukov as the new Partner and the Head of Dispute Resolution Practice.

    Avellum Partners welcomes Dmytro Marchukov as the new Partner and the Head of Dispute Resolution Practice.
  • Stephen Baker Ranked as the Only Jersey Lawyer to Make Top Legal List

    Stephen Baker , Senior Partner at Jersey based law firm  Baker & Partners , has been ranked as one of the top lawyers in the field of asset tracing and recovery by  Who’s Who Legal .   
  • Penkov, Markov and Partners Law Office and AmCham Organized Their First Joint Art Cocktail

    The law firm “Penkov, Markov & Partners” together with AmCham fulfilled their long planned idea to organize the first of its kind Art Cocktail in the office premises of PM&P. The event presented both modern Bulgarian Painters and Sculptors and as it happened, brought business and people together.
  • Dataquest Business Technology Awards 2015

    Anand and Anand has been awarded for excellence in the category of “Big Data/Analytics” at Dataquest Business Technology Awards  held on August 19, 2015 at The Hyatt, Mumbai. 
  • "The Practice of International Arbitration"

    Christos Georgiades & Associates LLC, the ICC Young Arbitrators Forum (YAF), the International Centre for Dispute Resolution (ICDR) Young & International, the International Council for Commercial Arbitration (ICCA), and Young ICCA are pleased to announce that an international arbitration conference will take place in Cyprus -Paphos on 18 September 2015, entitled "The Practice of International Arbitration".
  • Bär & Karrer: 3 August 2015 - Tiwel Holding Announces Public Tender Offer

    Tiwel Holding AG, Switzerland, a company controlled by the Renova group, today announced a mandatory public tender offer for all publicly held shares of Sulzer AG, which is listed on SIX Swiss Exchange and headquartered in Winterthur, Switzerland.  Sulzer AG holds interests in technology companies and other enterprises specializing in pump solutions, rotating equipment maintenance and services as well as separation, reaction and mixing technology. Tiwel offers CHF 99.20 per Sulzer share. Before launching the mandatory offer, Tiwel purchased a certain number of shares in Sulzer and thereby crossed the threshold of 33 1 /3 %, triggering the obligation to launch a mandatory offer. When launching the offer, Tiwel, together with the parties acting in concert with it, owned 33.36% of the shares in Sulzer. Currently, Sulzer has 34,262,370 issued registered shares.
  • Bär & Karrer: 7 August 2015 - PKB Privatbank Reaches Agreement With the US Department of Justice

    Within the framework of the US program in which it participated voluntarily, PKB Privatbank reached a non-prosecution agreement with the US Department of Justice. PKB Privatbank agreed to pay USD 6.3 million and to further cooperate with US authorities. In return, the US Department of Justice will abstain from criminal prosecution. The penalty amounts to approx. 1.9 percent of the total assets held by PKB Privatbank's US clients.