Deloitte Legal ehf. > Kópavogur, Iceland > Firm Profile

Deloitte Legal ehf. Offices

Deloitte Legal ehf.
Dalvegi 30
201 Smaratorgi
Iceland
Visit website 354 580 3000 354 580 3001

Deloitte Legal ehf. > The Legal 500 Rankings

Iceland > Tax Tier 1

Deloitte Legal ehf. is a leading name for the full gamut of tax matters in Iceland, spanning business taxes, indirect tax issues, transfer pricing work, and tax issues related to M&A and other transactions. Benefiting from the broad expertise and international network of the firm, the department caters to a prestige client base of domestic and international groups. Guðbjörg Þorsteinsdóttir is highly experienced in tax matters across a diverse range of industries; she co-leads the department alongside Haraldur Birgisson, who is managing partner and leads on transfer pricing matters. Arnor Hallson handles both corporate and individual tax matters.

Practice head(s):

Guðbjörg Þorsteinsdóttir; Haraldur Birgisson

Other key lawyers:

Arnor Hallsson

Testimonials

‘The team is very good within Deloitte. Knowledge of individual projects is good within the company. There is a high level of service and the follow-up on projects is exemplary.’

‘It is professionalism and professional knowledge of the subject that is most important to me. Haraldur Birgisson has provided me with good service over the past few years, not least of all his comprehensive knowledge of the projects he has undertaken. I give him my best recommendation.’

‘Deloitte offers strategic thinking and structured storylines, and provides the right support within appropriate timelines.’

‘Good overall work, really put their effort and time into the projects.’

‘Good skills and good knowledge of the nature of our business. Knowledge of tax practices. Connection with Deloitte in other countries.’

‘The co-operation is comfortable and communication open and honest. My contact is solution-oriented.’

Key clients

LBI ehf.

Bláa Lónið hf.

Festi hf.

Samherji hf.

Rotovia hf.

Verne Global hf.

Kerecis hf.

Hampiðjan hf.

Ísfélagið hf.

Steypustöðin hf.

deCode (Íslensk erfðagreining) ehf.

Vinnslustöðin hf.

Matorka ehf.

SSP Iceland ehf.

Work highlights

  • Provided Kerecis with various tax services in relation to Coloplast’s $1.2bn acquisition of Kerecis.
  • Provided tax vendor due diligence advice to the Blue Lagoon, Iceland‘s biggest tourist destination, in relation to its plan to list on the Nasdaq OMX Iceland exchange.
  • Provided buy side tax due diligence advice to Festi, one of Iceland’s largest retailers, on its approx. ISK8bn acquisition of Lyfju.

Iceland > Dispute resolution Tier 2

Deloitte Iceland works within the firm's global network to represent prominent clients in a range of commercial disputes. The department covers the real estate, energy, and financial sectors, with key strength in tax litigation. Competition specialist Hallmundur Albertsson leads the team alongside tax expert Guðbjörg Thorsteinsdottir and managing partner Haraldur Birgisson, a leading name for transfer pricing disputes.

Practice head(s):

Hallmundur Albertsson; Guðbjörg Thorsteinsdottir; Haraldur Birgisson

Key clients

Síminn hf.

Reiknistofa bankanna hf.

HS Orka hf.

Mannvit hf.

Gourmet ehf.

G2A ehf.

Hopp Leigubílar ehf.

Bru II Venture Capital Fund S.C.A., SICAR

Auðhumla svf.

Work highlights

  • Represented an industrial entity in defending its case before the tax tribunal in one of the first large transfer pricing cases in Iceland, which has now been appealed to the district courts.
  • Represented HS Orka hf. in a case, which ended with an out of court settlement, of a claim towards the Icelandic Government in relation to the legal basis of an electricity supply charge, which benefitted the whole sector.
  • Assisted a LUX creditor of Bru Venture capital in relation to a substantial claim in the estate of the fund Bru II Island hf.

Iceland > EEA and competition Tier 2

Deloitte Legal ehf.‘s growing team has leading expertise in cross-border matters, and advises a diverse range of Icelandic clients on all competition law matters. Hallmundur Albertsson, who is highly experienced in EEA, competition and telecoms law, co-leads the group alongside Thordis Bjarnadottir, who is experienced in the fishing, real estate and retail industries, among others.

Practice head(s):

Hallmundur Albertsson; Thordis Bjarnadottir

Key clients

Hopp Leigubílar ehf.

Síminn hf.

Mannvit hf.

Olíudreifing hf.

Íslandssjóðir hf.

Reiknistofa bankanna hf.

Reykjafell hf.

Búseti svf.

HS Orka hf.

Gleðipinnar shareholders

Work highlights

  • Represented Hopp Leigubílar before the Competition Authority in relation to the company’s motion towards anticompetitive practices of one of its market dominant competitors in the taxi market.
  • Advising Mannvit, one of the largest consulting engineering firms in Iceland, regarding its co-operation with another large company in the same sector, in relation to designing Hvammsvirkjun, a major hydropower plant.
  • Advised Oliudreifing, stock keeping and liquid fuel distributor, jointly owned by two of the largest oil companies in Iceland, on several competition matters, and the implementation of its Competition Compliance Program.

Iceland > Commercial, corporate and M&A Tier 3

Deloitte Legal ehf. works within the global network of the firm, and advises clients on a broad range of corporate transactions, including M&A, investments, and IPOs; the group benefits from the firm's expertise in tax issues. Þórdís Bjarnadóttir has experience working across a number of sectors, including the fisheries, real estate, and retail industries, and regularly advises clients on M&A and financing projects. Bjarnadóttir co-leads the department alongside Hallmundur Albertsson, who has a significant background in EEA and competition law.

Practice head(s):

Þórdís Bjarnadóttir; Hallmundur Albertsson

Other key lawyers:

Þorvarður Arnar Ágústsson

Testimonials

‘Very broad knowledge of commercial and tax laws and regulations and related government practices. Good “street smart” advice when dealing with complex regulatory issues.’

‘The individuals are knowledgeable, on top of things and always available.’

‘Excellent team.’

Key clients

Gleðipinnar

HS Orka hf.

Solid Clouds hf.

Askja hf.

Hopp ehf.

Ísey Export ehf.

Mannvit hf.

IS HAF fjárfestingar slhf.

Landsbréf hf.

Work highlights

  • Advising the selling shareholders on the sale of Gleðipinnar hf., a large-scale player in entertainment and restaurant market in Iceland, and acting as legal adviser on the restructuring of the sellers’ co-ownerships with the relevant investors.
  • Provided legal and tax due diligence, and various legal advice to IS HAF fjárfestingar, a fund managed by Íslandssjóðir hf., a new $70m investment fund focusing on ocean related opportunities.
  • Advising HS Orka hf., one of Iceland’s largest energy companies, on its investment in a hydropower plant entity.

Deloitte Legal ehf. > Firm Profile

The firm: Deloitte Legal member firms* have a long standing reputation for helping clients to address complex, cross-border issues. Skilled and experienced Deloitte Legal lawyers work together with other Deloitte professionals in tax, consulting and financial advisory to guide their clients through projects in a co-ordinated way around the world.

Operating in more than 75 countries, Deloitte Legal practitioners work closely across borders, providing a strategic perspective to help companies meet local responsibilities and thrive in the global marketplace.

The interplay between the firm’s services offerings and of other Deloitte advisors enables it to provide clients with comprehensive solutions, setting the practice apart from other firms in Iceland. Its membership in the Deloitte Legal Network also provides the practice with access to extensive resources and has increased the knowledge and capability of its employees. Its membership also places obligations on the firm to fulfill numerous quality requirements and adhere to disciplined procedures, for the benefit of its clients.

Core areas of practice
Commercial law solutions: As experienced advisers with a practical focus Deloitte Legal* can help clients meet challenges relating to more rigorous regulations and enforcement by local authorities. Its experience and global reach allow Deloitte Legal to provide businesses facing complex legal regulations and challenges with tailor-made services.

Corporate and mergers and acquisitions services: Deloitte Legal provides a full range of corporate law services from complex advisory services related to major business life events (including advising in restructuring and mergers and acquisitions processes) through to post-merger integration and general secretarial services.

Competition Law: Deloitte Legal’s experienced team of advisors provide holistic services and support to clients throughout the full cycle of competition matters – from providing in-house support and awareness to diligent advocacy before competition authorities and courts.

Tax advisory and compliance: Tax is at the core of Deloitte Legal’s services, supporting clients in all key sectors and areas such as M&A tax, business tax, indirect taxes, international tax and transfer pricing.  Wide-ranging experience and global reach enable the firm to support its clients in complex cross-border advisory and compliance engagements.

*Deloitte Legal means the legal practices of Deloitte Touche Tohmatsu Limited member firm affiliates that provide legal services. For legal and regulatory reasons, not all member firms provide legal services.

Main Contacts

Department Name Email Telephone
Commercial Haraldur I. Birgisson haraldur.ingi.birgisson@deloitte.is +354 580 3305
Commercial Hallmundur Albertsson halbertsson@deloitte.is +354 580 3050
Corporate/M&A Gudbjorg Thorsteinsdottir gudbjorg.thorsteinsdottir@deloitte.is +354 580 3082
Corporate/M&A Thordis Bjarnadottir tbjarnadottir@deloitte.is +354 580 3454
Tax controversy Gudbjorg Thorsteinsdottir gudbjorg.thorsteinsdottir@deloitte.is +354 580 3082
Tax controversy Petur Steinn Gudmundsson petur.steinn.gudmundsson@deloitte.is +354 580 3147
Restructuring and insolvency Gudbjorg Thorsteinsdottir gudbjorg.thorsteinsdottir@deloitte.is +354 580 3082
Employment and pensions Petur Steinn Gudmundsson petur.steinn.gudmundsson@deloitte.is +354 580 3147
Employment and pensions Arnor Egill Hallsson ahallsson@deloitte.is +354 580 3115
Banking, finance and capital markets Gudbjorg Thorsteinsdottir gudbjorg.thorsteinsdottir@deloitte.is +354 580 3082
Projects and energy Haraldur Ingi Birgisson haraldur.ingi.birgisson@deloitte.is +354 580 3305
Telecommunications Hallmundur Albertsson halbertsson@deloitte.is +354 580 3050

Staff Figures

Number of lawyers : 2,000+
at this office : 13

Languages

English
Icelandic

Memberships

Deloitte Legal worldwide network

Other

:

Diversity


 

At Deloitte, we understand that our diversity is a key driver of our effectiveness in the market. That’s why, in FY2018, we re-committed to progressing our already strong culture of inclusion and increasing gender representation at all levels across Deloitte.
Our deeply embedded, ongoing initiatives to promote diversity and inclusion at Deloitte have proven effective.

  • Deloitte member firms have adopted progressively advanced talent initiatives—including workplace flexibility, and family leave and return-to-work policies—that attract women, parents and employees of all generations.
  • Many Deloitte member firms offer their people opportunities through global business resource groups (BRGs) to connect and build networks with others who share affinity indicators such as gender, race, religion and sexual orientation. Some member firms have also established councils that bridge gaps between single-identity workplace groups.
  • Deloitte leaders in Australia, Canada, UK, US and other countries have been recognized externally for inclusion efforts and/or serve on boards of organizations that promote inclusion.
  • Globally, Deloitte creates a safe work environment for all people through its strong policies against misconduct, inappropriate behavior or sexual harassment.

These are some of the significant reasons why Deloitte is recognized as a desirable workplace by organizations that include
Great Place to Work, LinkedIn, National Association of Female Executives (US), The Times (UK), Glassdoor.

While we are proud of the accolades we have earned and the policies and programs we have implemented, we understand that we must change as the market and world around us change. To lead in the areas of inclusion and diversity, we must achieve more. That is why we are focusing many of our current efforts on gender representation and why we will continue to seek and hire qualified women, provide ample developmental and promotional and leadership opportunities, and remain committed to fair pay for all.

 

Interviews

Haraldur I. Birgisson, Managing Partner

Haraldur I. Birgisson, managing partner at Deloitte Legal in Iceland discusses the firm’s focus and future ambition.

What do you see as the main points that differentiate Deloitte Legal from your competitors?

There are three factors which differentiate Deloitte Legal in the market. First is the Deloitte Legal global network which extends to over 80 countries and entails over 2.000 lawyers and attorneys, who collaborate across countries in serving our clients. Second is our wide-ranging experience in tax, which is interconnected with all legal aspects of business and investment decisions both locally and globally. Lastly it is our collaboration with other Deloitte businesses, which include financial advisory, consulting, risk advisory and audit. Our local Deloitte Legal capabilities coupled global multidisciplinary service allows us to offer clients of all sizes a single point of contact with wide-ranging and in-depth advisory experience and pragmatic solutions which suits their market and strategy.

Which practices do you see growing in the next 12 months? What are the drivers behind that?

We will continue to grow in international tax and M&A legal related services. We are also building up new capabilities within EEA, competition and TMT, which suit well given the market dynamics in Iceland and supplement our current offerings within legal M&A. An emphasis on technology law furthermore fits well with increased capabilities within Deloitte’s Consulting tech offerings where subject matter experts are amongst others supporting companies in their digital transformation journey. Those journeys have a wide-range of touch points with various legislative aspects. Another driver behind this approach is the current positive economic outlook which has expedited various investments locally and across borders.

What’s the main change you’ve made in the firm that will benefit clients?

Broadening our service offerings into EEA, competition and TMT is a significant change which will benefit our clients, both in stand-alone competition related challenges in a small market such as Iceland and coupled with legal M&A services, whereas competition aspects are always interconnected. The other notable change is our emphasis on technology, which Deloitte Legal Globally has invested substantially in recent years. We are looking into implementing a few of these solutions which we believe will benefit our clients in the long-run.

Is technology changing the way you interact with your clients, and the services you can provide them?

We definitely see an increased focus from clients on LegalTech solutions, where the objective is to optimize processes, mitigate risk factors and increase efficiency. One tech solution which we are looking into implementing is an artificial intelligence tool which aims to change the way lawyers do legal research. That would definitely provide us with value-adding insights to share with clients and leverage in client cases. We have also created a free fully automated tax and legal newsletter where a robot gathers intel from around 40 public pages on proposed bills, committee motions, new law and court rulings and shares with clients and all those who have signed up. In this age of massive information flow, sometimes easy solutions are the best.

Can you give us a practical example of how you have helped a client to add value to their business?

I want to mention two examples. One being a resent listing of our client at the First North Growth Market here in Iceland where we supported them with a wide range of services leading up to the IPO, being the first gaming company in Iceland to go public with a quadruple oversubscription of shares. Second would be a client of ours in the high-tech manufacturing sector, which for a number of years we have supported with corporate structuring and various other elements in order to align the group up for sale, which recently took place.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

Definitely, law firms are expected to bring stability and direction to the table, as well as solutions, where they utilize their expertise and insights on the legislative framework along with their clients’ circumstances and ambitions. Business and law are interconnected as neither essentially thrives without the other. Sound, long-term business decisions are not made in a legal vacuum and lawyers wouldn’t have much to do if there were no entrepreneurs and executives to make those decisions. Deloitte Legal reflects this interplay and we will slowly but steady continue to grow within the fields of corporate law.



Comparative Guides

    Top Tier Firm Rankings

  • Tax