The Legal 500

Within Banking and finance, LOGOS legal services is a first tier firm,

LOGOS legal services’ ‘highly recommended’ banking practice acts for banks, insurance companies and other financial institutions, as well as borrowers. It advised Icelandair Group on its $164m refinancing, and also Landsbanki Islands on the financing of NBI bank’s $2.5bn acquisition of its assets. Erlendur Gislason heads the team.

Within Corporate and M&A, LOGOS legal services is a first tier firm,

LOGOS legal services’ ‘very good’ practice is praised for its ‘excellent response times’ and ‘robust advice’. It has been involved in several major restructurings involving large M&A components, and advised Icelandic Group on the sale of its German and French seafood operations to Pacific Andes. The corporate finance practice was also significantly boosted by the recruitment of Ottar Palsson, a former CEO of the investment bank Straumur Burdaras. Additionally, the firm’s dual-qualified London office head Gudmundur Oddsson is ‘clearly a rising star in the field’.

Within Dispute resolution, LOGOS legal services is a first tier firm,

LOGOS legal services is ‘clearly a very strong commercial firm’ and is regularly involved in major litigations, including insolvency-related cases, white-collar crime and tort claims. The firm has been advising numerous creditors against collapsed Icelandic banks, such as local UK authorities that had money in Icelandic deposit accounts. Group head Olafur Eiriksson is extremely experienced.

Within EEA and competition, LOGOS legal services is a first tier firm,

LOGOS legal services is ‘extremely responsive and understands the legal and political landscape well’. It successfully represented Icelandair in several appeals against fines for alleged abuse of dominance, which the ICA has since taken to the Supreme Court. Helga Melkorka Ottarsdottir heads the practice.

Within Legal market overview,

The small size of the Icelandic legal market has ensured that the level of demand for work has kept most firms busy despite ongoing turbulent local and global financial conditions. Much of this work has related to the collapse of several of Iceland’s largest banks, including bankruptcy-related proceedings such as refinancings, restructurings or insolvency litigation and related M&A. The high volume of creditors and debtors has meant that many firms have been afforded a seat at the table in some capacity. Iceland’s largest law firms, including BBA // Legal, Lex Law Offices and LOGOS legal services, have benefited most.

Within Maritime and transport, LOGOS legal services is a first tier firm,

LOGOS legal services has a superb record in maritime matters, and it handles all contentious and non-contentious maritime and transport matters for Eimskip. The firm is also highly experienced on the aviation side, and advised Icelandair on the purchase of two used Boeing 757-200s. Group head Einar Baldvin Axelsson and Eriendur Gislason are the main figures.

Within Projects and PFI, LOGOS legal services is a first tier firm,

LOGOS legal services has one of the best construction practices in the country, and it regularly represents the Government Construction Contracting Agency. The firm also recently advised Verne Holdings on financing of the construction of a data centre. Einar Baldvin Axelsson heads the team.

Within Restructuring and insolvency, LOGOS legal services is a first tier firm,

LOGOS legal services’ ‘extremely responsive’ team is ‘particularly alert to the political landscape, which is invaluable to any restructuring in Iceland’. It is advising Icelandair Group on restructuring, and is acting for major creditors of all three failed Icelandic commercial banks. Olafur Arinbjorn Sigurdsson has ‘a good track record on complex restructuring deals and gives good, to-the-point advice’. New arrival Ottar Palsson is also highly experienced in Icelandic restructurings.

Within TMT and IP, LOGOS legal services is a first tier firm,

LOGOS legal services’ comprehensive IT and media practice has been advising several major clients in the TV and music industries recently. Highlights included advising The Icelandic Banks Data Centre on restructuring of its services to the financial sector. The firm also acted for Turner Broadcasting during its acquisition of media company LazyTown. Arni Vilhjalmsson and practice head Hjordis Halldorsdottir are recommended.