The Legal 500

Norway

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Editorial

Legal market overview

The Norwegian legal market has been affected by the fall in oil prices, with oil services companies hit especially hard. As a result, firms have witnessed an increase in restructurings and insolvency matters and reduced transactional activity but there are promising signs of a recovery. Oil and gas and offshore industries are substantial sectors for most law firms, despite the setbacks, and the renewable energy sector is becoming more prominent. Instructions on real estate and construction work have also increased for many firms, both in the context of disputes and increased foreign investment into real estate projects.

The market is dominated by local full-service law firms, with Advokatfirmaet BA-HR DA, Advokatfirmaet Thommessen AS, Advokatfirmaet Schjødt AS, Wiersholm and Wikborg Rein being especially prominent and highly ranked in most practice areas. DLA Piper is the key foreign firm in the market, with Deloitte Advokatfirma AS being another notable presence.

Key changes in the legal market were Torkildsen & co. Advokatfirma merging with Føyen Advokatfirma in early 2015 to create Advokatfirmaet Føyen Torkildsen and, in late 2015, the creation of oil and gas and offshore boutique Michelet & Co Advokatfirma AS.

Firms in the spotlight

Kvale Advokatfirma DA
www.kvale.no

Kvale is a business law firm that since 1988 has advised the local and international business community. Stable organic growth over a quarter of a century has led the firm past a number of important milestones. Not least growing from one to 50 employees and past that, towards 100 and beyond.

Advokatfirmaet Haavind AS
www.haavind.no

Haavind is one of Norway’s leading law firms with more than 100 lawyers. The firm is located in central Oslo and provides legal services to businesses, covering all aspects of commercial law. Haavind specialises in corporate law and M&A, real estate, construction, employment, dispute resolution, energy, telecommunications, media and technology (TMT) and intellectual property rights (IPR).

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  • Gender Pay Gaps: The Latest Reporting Requirements

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    It has been announced last week that the European Commission (EC) has published a report on the EU crowdfunding sector, as part of its Capital Markets Union Action Plan. In doing so, the EC has recognised the growing importance of crowdfunding platforms – websites that allow fundraisers to interact with investors and donors – for the improved economic growth and job creation in Europe. Despite being acknowledged as relatively small at this moment in time, its rapid development has been noted, and for that reason, efforts are being made for crowdfunding to be appropriately regulated en route to becoming one of the key sources of financing for small & medium sized enterprises in the future.
  • Pitmans acts on Westcoast’s acquisition of Art Systems Holdings Ltd

    Pitmans LLP has acted on behalf of its longstanding client, Westcoast (Holdings) Limited on its acquisition of Art Systems Holdings Limited.
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    One of the biggest news reports in the region last week was the acquisition of Porto Montenegro , the luxury yacht marina located in Tivat, by the Investment Corporation of Dubai (ICD). The marina was handed over to the new owners during a press conference at the Regent Hotel, where the accompanying protocol was signed by ICD's Executive Director, Sheikh Mohammed Al Shaibani, and the CEO of the marina's previous owner – Adriatic Marinas, Oliver Corlette. The conference was also attended by the Montenegrin Prime Minister, Milo Đukanović, and the Minister of Sustainable Development and Tourism, Branimir Gvozdenović.
  • Insolvency Update: Changes that take effect from April 2016

    The Department of Justice has issued a practice direction in connection with the new insolvency express trials pilot.
  • The Apprenticeship Levy

    Following last year’s autumn statement, HMRC has now published draft legislation which introduces the proposed new apprenticeship levy. The levy will have effect from 6 April 2017.
  • https://www.karanovic-nikolic.com/knnews/Pages/2016/04/28/Competition-Commission-Joins-Forces-with-t

    Another piece of news related to our competition team in Serbia are the recent signings of a Memorandum of Understanding and Agreement of Cooperation in the field of forensics between the Commission for the Protection of Competition and the Ministry of Internal Affairs (MIA).
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    The Sarajevo Business Forum 2016 (SBF) was, among hosting a number of lectures and discussions, a platform for one of the largest post-war investments in the energy sector in Bosnia & Herzegovina (BiH). The reason for this can be found in the latest reports that an agreement was reached for the EUR 722 million construction of Thermal Power Plant Tuzla's Block 7 between Elektroprivreda BiH and the China Gezhouba Group Corporation , with the official MoU signing taking place on the first day of the SBF 2016. The project financier for the deal in question will be the Export Import Bank of China (EXIM), and the repayment period – together with a five-year grace period, is reported to be 15 years.
  • Karanović & Nikolić Attends Commission’s Anniversary

    ​Karanović & Nikolić attorneys were among the guests at the Republic of Serbia's Commission for the Protection of Competition's 10 year anniversary celebration, which also included an international conference on the topic of the law and policy of competition protection. The conference was opened by Deputy Prime Minister, Prof. Dr Kori Udovički, President of the Commission for Protection of Competition, Dr Miloje Obradović, President of the National Assembly's Committee for Economy, Regional Development, Trade, Tourism and Energy, Dr Aleksandra Tomić, and European Union Delegate, Steffen Hudolin.