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Overview

Everything has changed in the Icelandic legal market. Following the credit crunch-induced economic implosion in late 2008, the jurisdiction’s small corporate legal community have been forced to shift their focus almost overnight from supporting rapid, heady economic growth, built primarily on the perceived success of Iceland’s banking and financial sector, to becoming what one lawyer termed ‘firemen’, providing urgent advice to a crisis-stricken banking and business community. What had been a market increasingly dominated by a wave of sophisticated financing and optimistic outbound M&A transactions has become one where lawyers have quickly become experts on emergency bankruptcy law rushed through in response to the nationalisation of three of Iceland’s largest banks. In the short-term, Icelandic firms have thrived on advising the myriad of parties tied up in Iceland’s failed banking system, with smaller full-service practices finding themselves as heavily involved as dominant market players LOGOS legal services, BBA // Legal and Lex Law Offices. However, behind the frantic activity is an underlying uncertainty over how the legal market is likely to adapt in the long-term, to what is sure to be a vastly different, post-crisis environment.

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  • The Restructuring Review

    OVERVIEW OF 2008/2009 RESTRUCTURING AND INSOLVENCY
    - Afridi & Angell
  • Labour & Employment

    1 What are the main statutes and regulations relating to employment? The main statutes relating to employment are the Portuguese Employment Code (approved by Law 7/2009 of 12 February 2009) and the Regulation of the Employment Code (Law 35/2004 of 29 July 2004) which is still in force notwithstanding the fact that parts have been revoked with the entry into force of the new Employment Code. Within the Employment Code, the vast majority of the rules are mandatory and, therefore, can only be modified by agreement of the parties and only if such amendment is intended to improve the position or rights of the employees.
    - F. Castelo Branco & Associados
  • Real Estate/ Property/ Infrastructure

    Norms for highway projects pact changed
    - Seth Dua & Associates
  • Projects, Energy & Natural Resources

    Power
    - Seth Dua & Associates
  • Litigation and Dispute Resolution

    Case Laws
    - Seth Dua & Associates
  • Intellectual Property Rights

    Amendments in Information Technology Act, 2000 The Information Technology (Amendment) Act, 2008 has come into force from October 27, 2009. Some key amendments in the Information Technology Act, 2000 (“IT Act”) are highlighted below:
    - Seth Dua & Associates
  • Cross Border Investments & Transactions

     
    - Seth Dua & Associates
  • Capital Markets/ Securities

    Amendments in (Substantial Acquisition of Shares and Takeovers) Regulations, 1997
    - Seth Dua & Associates
  • Trade Laws and WTO Matters

    Certain important and recent legal developments in this area are set out below.
    - Seth Dua & Associates
  • Taxation – Direct Taxes

    Income-tax (Dispute Resolution Panel) Rules, 2009
    - Seth Dua & Associates

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to