- How do the awards work?
- The Legal 500 United Kingdom Awards 2013
- 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
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- Shipping litigation
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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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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.
As of 1 st February 2014, both Criminal and Criminal Procedure Codes were implemented, replacing regulations that have been in force since 1968, drafted at a time when the political status quo in Romania not only discouraged but even forbade private initiative.
The Government of Albania has issued the final version of the draft law on Value Added Tax. According to the Minister of Finance, once approved by the Parliament, the new VAT law is expected to enter into force on January 1, 2015 and replace the current law on VAT, as well as all respective regulations. The draft law has been prepared with the support of the European Union, setting as its principal aim to harmonize legislation on VAT with the acquis communautaire , in compliance with the Stabilisation and Association Agreement.
Since the beginning of the crisis, a heated debate is going on among politicians and scholars, inside and outside the country, on who's responsible and whether the austerity measures, adopted as a condition for the financial assistance by international lenders, has been successful, proportionate and fair.
The sovereign debt crisis in Greece has resulted in an unprecedented plunge of the GDP by 25%, whereas prices in the local real estate market have fallen as much as 50% since the crisis hit the country at the end of 2008. As a result, huge investment opportunities have arisen, as both the Greek State and the private sector are trying to liquidate as many assets as possible in order to repay their debts.
2012 was the Hellenic Competition Commission's (‘HCC') fourth year of operation since its reform and one year after the enactment of a new competition law, Law 3959/2011.
The Hellenic Republic Asset Development Fund (the Fund) launches a tender for the sale of the shares of the HELLENIC COMPANY FOR ROLLING STOCK MAINTENANCE S.A. (ROSCO)
It is widely accepted that the proper implementation of transfer pricing regulation is subject to a clear and unambiguous definition of "affiliated" undertakings.
Studio Legale Villata, Degli Esposti, Perfetti e Associati is pleased to announce the forthcoming publication of the sixth edition of Professor Villata's monograph entitled " Pubblici Servizi. Discussioni e Problemi " (Public Services. Issues and Debates) and issued by the law publishing house Giuffrè. The volume consists of an in-depth analysis of the much-discussed subject of public services and provides a remarkable intake on the matter from an exceedingly knowledgeable scholar, in light of recent developments in legislation and jurisprudence.
Budidjaja & Associates becomes the Indonesian law firm member of TAGLaw, an international alliance of independent law firms
AstapovLawyers has been recognized TOP-3 band in corporate/M&A and tax in Ukraine according to the latest survey 2014 by KyivPost, a well-known English speaking edition. The survey findings are based on a peer review conducted by the Kyiv Post in August of 90 law firms.
The Administrative Court of Hamburg decided on 27 August 2014 that Uber, a provider for a smartphone-app for on-demand transportation services, may continue providing its services in Hamburg. With its decision, the Administrative Court ordered the suspensive effect of the objection against the prohibition order of the city of Hamburg. The decision of the Hamburg authorities were formally unlawful as the traffic authorities were not the responsible authority and the prohibition order could not be based on the Passenger Transportation Act (Personenbeförderungsgesetz).
The Companies (Guernsey) Law, 2008 (" Companies Law ") provides for companies, protected cell companies (" PCCs "), incorporated cell companies (" ICCs ") and cells of PCCs and ICCs to be placed into administration and for an administrator to be appointed to manage that entity's affairs whilst the administration order remains in force.- Ogier
A company incorporated and existing in one jurisdiction may consider it desirable to continue as a company existing elsewhere for a variety of reasons including, for example: to be in a time zone closer to investors; to conduct its affairs in a manner more familiar to its stakeholders; to benefit from a more modern and/or flexible statutory or regulatory environment and/or a more appropriate tax framework.- Ogier
Kim & Chang has been named as the "Best Law Firm for Asset Management" from AsianInvestor Korea Fund Awards 2014 , hosted by AsianInvestor affiliated with Haymarket Media Ltd, a global media company. It is the fourth consecutive year that the firm has been honored for this award.
Kim & Chang has been selected for the "Legal Innovation in Real Estate Finance" award for providing exceptional legal advice in connection with the case involving KHFC's issuance of two different types of covered bonds in the first-ever Financial Times (FT) Asia-Pacific Innovative Lawyers Awards 2014 .
Kim & Chang has been recognized as one of the world's top 150 law firms in the Who's Who Legal 100 (2014 edition, 3rd edition) , published by Who's Who Legal that is an international publication affiliated with London-based publishing group, Law Business Research. Kim & Chang has been the only law firm in Korea to be included in the list for three consecutive years.