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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
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Iceland > Restructuring and insolvency > Law firm and leading lawyer rankings

Editorial

Index of tables

  1. Restructuring and insolvency
  2. Hall of Fame
  3. Leading individuals

Who Represents Who

Find out which law firms are representing which Restructuring and insolvency clients in Iceland using The Legal 500's new comprehensive database of law firm/client relationships. Instantly search over 925,000 relationships, including over 83,000 Fortune 500, 46,000 FTSE350 and 13,000 DAX 30 relationships globally. Access is free for in-house lawyers, and by subscription for law firms. For more information, contact david.burgess@legal500.com.

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The team at BBA, headed by Einar Baldvin Árnason, is experienced in complex insolvency and restructuring matters for international and domestic clients. Baldvin Björn Haraldsson continues to provide lead representation to Swiss Life in claims against the former Icelandic banks. The firm also advised shareholders of Strax in refinancing and restructuring of debt valued at ISK1.1bn.

Juris’ restructuring and insolvency practice represents Íslandsbanki in damages claims – totalling approximately ISK8bn – against the estate of former savings bank Byr and the Icelandic state in relation to the purchase of parts of the fallen bank. Stefán A. Svensson is a key contact for contentious restructuring and insolvency issues and continues to defend Kaupthing in claims brought by AB 76 totalling more than ISK1bn. Andri Árnason is also recommended.

Lex Law Offices’ practice successfully represented Lfsverk Pension Fund against the former directors and their liability insurer in receiving a settlement of ISK836m for losses resulting from alleged illegal investments. Helgi Jóhannesson heads the team, which includes the highly regarded Guðmundur Sigurðsson and Óskar Sigurðsson, who recently joined following a merger with JP Law Firm. Clients include Landsbankinn, Reykjavík Energy and Arion Bank.

The ‘highly responsive and client-orientedLOGOS is ‘impressive in terms of value, proactivity and knowledge of the inside track’. The team represents Akin, acting for several bondholders in the restructuring of, and claims on, the estate of the collapsed Icelandic banks. In addition, Ólafur Arinbjörn Sigurðsson led advice to the Municipality of Reykjanesbaer on its financial restructuring. Key contacts also include ‘clear market leaderÓttar Pálsson and practice head Heiðar Ásberg Atlason.

ADVEL Attorneys at Law was instructed by Frumherji in refinancing and restructuring matters relating to the takeover of Íslandsbanki, and the later sale of all shares to SKR1. Practice head Kristinn Hallgrímsson advised on the restructuring of Advania and N1. Clients include Dentons, Gámaþjónustan and Hypothekenbank Frankfurt AG.

Landslog – Law Offices has a well-regarded and highly experienced restructuring and insolvency team. Grimur Sigurdsson defends Kaupthing in a ISK30bn claim from Credit Suisse regarding credit-linked note contracts. The practice acts as the receiver of the bankruptcy estate of Milestone. It also advises Central Bank of Iceland Holding Company and Eimskip.

Réttur – Adalsteinsson & Partners defended several foreign banks, including BNP Paribas and Raiffeisen Bank International, in rescission claims from winding-up committees of Icelandic banks with an aggregate value of €220m. The practice also represents Commerzbank in two disputes against LBI valued at €40m. The ‘outstanding, extremely bright and very commercial’ Kári Hólmar Ragnarsson heads the team alongside Sigurður Örn Hilmarsson.

The team at Atlantik Legal Services advised Merking and Format-Akron on their merger under the name Merking and represented the company in several disputes with creditors, including Íslandsbanki. Clients also include the estate of Guðmundur A Birgisson and Kaupthing.

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