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Editorial

Legal market overview

Italy experienced the arrival of yet another new government during 2014, led by the country’s youngest ever prime minister, Matteo Renzi, who promised sweeping political, economic and labour law reforms. Such promise attracted the interest of international investors but Italy, nonetheless, dipped back into recession during the first two quarters of 2014 and, in September, the Organisation for Economic Co-operation and Development predicted that Italy’s GDP would grow by only 0.1% in 2015.

Unsurprisingly, the country’s restructuring lawyers remained busy with high-profile work, while Italy’s debt capital markets specialists tapped into a mini-bond boom, following reforms that allow Italian unlisted small and medium-sized enterprises (SMEs) to issue debt securities and bonds for trading on the professional segment of Italy’s stock exchange.

As always, Italy’s legal market was fluid. Among these changes, Latham & Watkins LLP endured the departure of a six-strong finance team – including former local banking and finance department chair Riccardo Agostinelli, Lorenzo Vernetti and Marco Leonardi – which moved to Gattai Minoli Agostinelli & Partners; Paolo Daviddi joined Grimaldi Studio Legale’s Milan office from Norton Rose Fulbright; and a team of five finance lawyers led by partner Giancarlo Castorino left d’Urso Gatti e Bianchi Studio Legale Associato to join King & Wood Mallesons.

Italy’s leading tax law firms also experienced change: Di Tanno e Associati lost Stefano Petrecca and Eugenio Romita to Macchi di Cellere Gangemi’s Rome and Milan offices, together with several associates; and ex-Maisto e Associati partner Paolo Ludovici founded Ludovici & Partners.

Meanwhile, NCTM Studio Legale Associato merged Studio Panetta & Associati into its Rome office, comprising equity partner Rocco Panetta and seven other professionals, including salary partners Giorgio Telarico and Domenico Rinaldi.

Firms in the spotlight

Toffoletto De Luca Tamajo e Soci
www.toffolettodeluca.it

Toffoletto De Luca Tamajo e Soci is one of the largest specialist employment law firms in Italy. Its dedicated team operates from the firm’s offices in Milan, Naples, Rome, Bergamo and Brescia...

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  • Pepeliaev Group tops the Best Lawyers 2015 ranking

    The authoritative international ranking of law firms Best Lawyers 2015 has hailed Pepeliaev Group as Top Listed in Tax. This means that Pepeliaev is recognised as the top firm in Russian tax law. The award is handed to firms whose lawyers occupy the highest positions in the rankings within a certain region and practice area.
  • PP -“TOP-TIER FIRM” & “ELITE LEADING LAWYER” rankings by The Legal 500 EMEA 2015 guide

    Patrikios Pavlou & Associates LLC achieves FIRST TIER recommendations in Cyprus by The Legal 500 Europe, Middle East and Africa 2015 guide in April 2015.
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    Aleksandra Vasyukhnova, Head of Technology and Investment Group at VEGAS LEX, has spoken at the Eighth International Forum on Intellectual Property – 21st Century, one of the leading industry platforms.
  • Austria: Schoenherr advises Cimpress on its acquisition of Austria's Druck.at

    Schoenherr advised Cimpress N.V., a world leader in mass customization, on its acquisition of Druck.at, one of the leading web-to-print businesses in Austria. The transaction, which was announced on 18 March 2015, closed on 17 April 2015 following the successful achievement of various closing conditions including Austrian antitrust clearance. The acquisition supports Cimpress’ strategy of building a software-enabled operational platform that aggregates and optimizes the supply chain and production of mass customized products such as signage, printing, apparel and promotional products. read more...
  • CEE: Schoenherr named Leading Law Firm in South East Europe by Chambers

    Schoenherr has been recognized as " South East Europe Law Firm of the Year " (2015) by the renowned legal publisher Chambers and Partners . Schoenherr lawyers Monica Cojocaru (partner; Bucharest), Miloš Laković (partner, Moravčević, Vojnović & partneri OAD in cooperation with Schoenherr; Belgrade) and Marko Prušnik (partner; Ljubljana) accepted the award on behalf of the firm at the Chambers Europe Awards event held this past Friday evening at Amsterdam’s Hotel Okura. read more...
  • Russian industrialists and VEGAS LEX discuss development of procedural law with Supreme Court

    VEGAS LEX and the Russian Union of Industrialists and Entrepreneurs and chaired by Mikhail Fridman have discussed improvement of judicial procedure in Russia, also in the context of the new unified Civil Procedure Code Concept and the Code of Administrative Court Procedure now in the works. The event convened representatives of the Supreme Court, the Presidential State-Legal Directorate, the State Duma Committee on Civil, Criminal and Commercial Legislation, major industrial companies and legal experts.
  • Patrikios Pavlou & Associates LLC co-sponsored the CFA first seminar of the year, 6th & 9th March 20

    The Cyprus Fiduciary Association organized two (2) full-day seminars on the Role and Liabilities of Directors which were co-sponsored by Patrikios Pavlou & Associates LLC. The seminars took place at Cleopatra Hotel in Nicosia on March, 6 and at St. Raphael Hotel in Limassol on March 9 and were hailed with great success.
  • Baker & Partners Drive Best Practice for Local Trust Firms

    Baker & Partners have issued a Guidance Note covering the retirement, replacement and removal of trustees, with information of great relevance to Jersey’s legal community and the broader legal and financial sectors. 
  • Popov & Partners admitted as a member of Bulgarian Water Association

    At the beginning of April 2015 Popov & Partners was admitted as a corporate member of the Bulgarian Water Association (BWA) . BWA is the largest organization in Bulgaria that combines all WSS operators, trade companies and business consultants with focus on the management of the water resources and the development of the water-supply services in the country. In international aspect BWA has parnership relations with European Water Association and International Water Association and other international water organizations, whose activity reflects directly over the development of the water sector in global aspect.
  • Slovenia: Schoenherr advises Laško shareholders on a majority stake in Slovenian brewer to Heineken

    Schoenherr advised a consortium of owners of Pivovarna Laško, d.d. ("Laško"), Slovenia's leading brewery group, in the sale of their combined holdings of over 51% in Laško to Heineken International B.V., part of the Netherlands-based brewing group. The opening of final offers took place on 13 April 2015, with Heineken offering EUR 25.56 per share in Laško (translating into a total purchase price of approx. EUR 114 million for the 51.11% stake on sale). Following the selection of Heineken as best bidder, the respective share purchase agreement was signed in Ljubljana the same day. read more...