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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.
Legal Business: country analysis
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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.
Bär & Karrer was elected Switzerland M&A Legal Adviser of the Year at yesterday's annual Mergermarket M&A Awards. Based on a comprehensive analysis of Mergermarket's league tables, the judging panel chose Bär & Karrer from among seven shortlisted Swiss and international law firms that were particularly active in the Swiss M&A market in 2014.
Alexander Lavrentyev, head of the VEGAS LEX Fuel and Energy Group, has spoken at the XI Professional Energy Forum, Generation, Networks and Sales , about default supplier's breach of contract without disruption of supplies
The patent attorneys at Boult Wade Tennant are well known for their expertise and advocacy skills for both contentious and non-contentious matters before the European Patent Office. In November 2014 alone, Boult Wade Tennant attorneys attended over 29 oral proceedings in Munich or The Hague.
The VEGAS LEX law firm and First Infrastructure Company InfraONE are performing comprehensive consultancy and support services for the concession grantor at the financial close phase of the project to introduce fees for 12-plus ton vehicles.
VEGAS LEX, InfraONE take part in meeting of Transport Ministry Taskforce on Extending Moscow Air HubOn November 27, 2014, the Transport Ministry Investment Coordination Council's** Taskforce on Extending the Moscow Air Hub (MAH) Experience to Regional Airports* led by VEGAS LEX Partner Albert Eganyan , chairman of the InfraONE Board of Directors, held its first meeting.
Russian rating of law firms Pravo.Ru-300 recognizes VEGAS LEX as one of Russia's leading law firms, ranking us among top-tier law firms in various categories.
The VEGAS LEX Volga Directorate has organized a roundtable on important theoretical and practical aspects of challenging transactions during bankruptcy proceedings.
VEGAS LEX experts have discussed personal and corporate fraud risk management with business executives