Greece > Legal market overview
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As Greece’s sovereign debt crisis reached a head in 2011, transactional activity dipped significantly, banks’ appetite to provide capital diminished further, and foreign investors either reassessed their positions or adopted a wait-and-see approach as to their entry into the market. As a result, Greek law firms have retrenched to traditionally counter-cyclical staples such as restructuring and insolvency advice, employment law and dispute resolution. The renewable energy sector continues to be a notable bright spot, particularly photovoltaic projects, while an increase in privatisation mandates is also expected now that the Greek state is being forced to raise capital by selling off assets. Shipping litigation also remains strong.
The legal market has ridden the economic turmoil better than most sectors, partly because lawyers are less specialised than counterparts in larger jurisdictions and have maintained a flexible and robust approach to the changing demands of the market. Karatzas & Partners Law Firm, Koutalidis Law Firm, M & P Bernitsas Law Offices, Potamitisvekris and KGDI Law Firm are the most prominent Greek firms, with the latter the largest by size with around 100 lawyers. UK shipping law firms represent the bulk of international operations in Greece, and the majority have kept to the confines of this practice, with the exceptions of Norton Rose LLP with a full-service offering; Watson, Farley & Williams – Greek Branch for energy matters; and Reed Smith.
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Press releases
Legal Developments in Greece
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Greek Société Anonymes: An introduction to the key rules
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Greek electricity and natural gas legislation following the recent legislative overhaul
Introduced in August 2011, Statute 4001/2011 on the Electricity and Natural Gas Markets has set de novo Greek energy legislation. In this chapter, Kelemenis & Co., which acted as the legal advisor to the Greek Ministry of Energy in drafting the new energy law, sets out, in a Q&A format, all key provisions for both the electricity and gas sectors. -
An outline of Greek corporate tax legislation
The sovereign debt crisis has caused successive revisions of Greek tax legislation. In this chapter, Kelemenis & Co. deals with the key provisions of Greek corporate tax legislation as currently in force whilst focusing on themes which are of high importance to both foreign and domestic investors. -
Employment Newsletter - Information on recent employment law developments in Greece
In this newsleer A. Reduction of minimum salaries and wages B. Amendment of framework on Collective Labour Agreements C. Changes in the Mediation and Arbitration System D. Suspension of salary increases based on seniority E. Qualification of employment contracts due to expire upon a certain age or upon completion of pension requirements as indefinite- term contracts. -
Labour Law developments in Greece increase flexibility of employment
Recent labour law reforms in Greece significantly modify the labour scene regarding the employees working hours, their salaries and severance payment and other employment matters. All changes have been made in the spirit of preserving employment, increasing cost reduction and boosting competitiveness. -
Banking Newsletter March 2012
Informa+on on Greek Memorandum of Understanding and PSI -
The Ultimate Legal Guide to Investing in Greece
1) minority shareholders rights and shareholders agreements, 2) S.A. taxation, 3) antitrust regulations, cartels and abuse of dominance, 4) state aid, 5) environment & industry, 6) spatial & urban planning, land uses, 7) personal data protection. -
Employment Law amendments boosts Foreign Direct Investments (F.D.I.)
Pistiolis-Triantafyllos & Associates law firm has one of the most dynamic and business-oriented corporate employment & labour law practices in Greece. We represent national and international corporations and we make it our business to keep up with the ever-changing complexities of employment law, so corporations can focus on running their business. Employment law is one of the most rapidly changing areas of our legal system. Against a backdrop of new legislation, regulations and reported cases, maintaining best practice is a real challenge. -
Competition Alert Hellenic Competition Commission adopts a new Leniency Program
The Hellenic Competition Commission (HCC) recently issued decision 526/VI/2011, by virtue of which it adopted a “second generation” leniency program, which is fully aligned with the relevant EU provisions and practices. -
P&P Newsletter - PV Energy
Update on the regulative framework of PV development following the recent enactment of Law 4001/2011 and the revised Regulation of Electricity Generation Licences for RES plants in Greece.
Press Releases worldwide
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Börje Leidhammar appointed expert to the committee on due process in tax proceedings
Börje Leidhammar, partner at Wistrand, and chairman of the Institute of Taxes and The Rule of Law (Institutet Skatter & Rättssäkerhet, ISR), was appointed on 27 April 2012 as expert to the committee tasked with examining ways to strengthen due process in tax proceedings.- Wistrand -
Robert Moldén contributes to new book on international antitrust litigation
Robert Moldén at Gärde Wesslaus Gothenburg office has authored a chapter in the book "International Antitrust Litigation – Conflict of Laws and Coordination", which recently has been published by Hart Publishing. -
John S. Gulbrandsen ranked Media “Lawyer of the Year” in Norway
We are proud to inform that John S. Gulbrandsen in May 2012 was selected by his peers for inclusion in the new edition of Best Lawyers in Norway in the practice areas Intellectual Property and Media. He was named the Best Lawyers' 2012 Media "Lawyer of the Year". -
Asters Advises EBRD on a Pioneering Loan to Finance Construction of a Wind Power Plant
Asters acted as a legal counsel to the European Bank for Reconstruction and Development (EBRD) in connection with financing arranged by EBRD for Eco-Optima to finance construction of a 12.5 megawatt wind power plant in Starosambirskyi district of Lviv region.- Asters -
INTEGRITES’ SUCCESS AND ACHIEVEMENTS IN BANKING AND FINANCE PRACTICE ARE...
RECOGNIZED BY CHAMBERS EUROPE 2012 -
Hogan Lovells supports International Legal Forum hosted by the Office of the President of Mongolia
ULAANBAATAR, 18 May 2012 – Hogan Lovells is delighted to be the lead international legal partner at the forthcoming International Legal Forum hosted by The Office of the President of Mongolia and held at the Ikh Tenger State residence on May 29 and 30, 2012. -
EAC tendering process
Our Client APR Energy has successfully completed the tendering process of the Electricity Authority of Cyprus and executed a contract with the EAC for the generation and provision of 120Mw commencing in June 2012. -
Road Show on Promoting Investment Climate in Kazakhstan in 4 USA cities: Chicago, New York City,...
San Francisco, Washington D.C. and Canada (Vancouver), 10-12 April 2012 -
HOT-TUBBING IN INTERNATIONAL ARBITRATION
In this issue Hot-tubbing in International Arbitration…1 By Chia Voon Jiet Upcoming Amendments to the International Arbitration Act …………….. 3 By Chew Kiat Jinn & Mahesh Rai -
Record result for Fiebinger Polak Leon Attorneys-at-Law in FORMAT Lawyer Ranking 2012
It’s not the size that counts! In this year’s ranking of the top Austrian lawyers, conducted by the magazine FORMAT, Fiebinger Polak Leon were able to better last year’s result with no fewer than five nominations. As a result more than one third of the registered lawyers at the law firm rank among the most recognised specialists in Austria.