Firm Profile > Landslog – Law Offices > Reykjavik, Iceland

Landslog – Law Offices
BORGARTÚN 26
105 REYKJAVIK
Iceland

Commercial, corporate and M&A Tier 2

With particular expertise in the retail and real estate sectors, Landslog – Law Offices advises domestic companies on all elements of acquisitions and sales, including due diligence, transaction structuring and regulatory approvals before the Competition Authority. Grimur Sigurdsson covers contentious and non-contentious work in the corporate sector: he recently acted for HS Orka on the sale of its entire shareholding to power company Macquarie Infrastructure and Real Assets for $305m. Vidar Ludviksson focuses primarily on M&A and equity deals.

Practice head(s):

Testimonials

Comprehensive team with varied fields of expertise.

Key clients

Hagar hf.

Islandsbanki hf.

The Icelandic Government

HS Orka

Hekla

Lyfja hf.

ISAVIA

Syn hf.

The Icelandic Financial Supervisory Authority

IAV hf.

The firm: Landslog – Law Offices has an extremely strong presence in Iceland and comes highly recommended. The firm provides clients with high-level one-stop legal services. The firm’s lawyers are well recognised in the Icelandic market for their fine-tuned expertise and personal services. Landslog has one of the strongest presences in Iceland in dispute resolution and has recently handled many of the largest transactions in Iceland over the past years.

The legal landscape in Iceland has slowly been emerging over the past years, shifting from legal work pertaining to insolvency, restructuring, insurance, creditor composition and other “clean-up work” following the banking crisis in 2008, over major transactions, M&A work, banking advice, industry specific transactions and corporate work.

Areas of practice: Banking and finance:  In August 2019 Hagar hf. (Iceland´s largest retail chain and one of Iceland’s largest companies), a listed company, retained Vidar Ludviksson, partner at Landslog, to handle the prospectus and legal issues in relation to the company’s bond issue in the amount of 8 bn ISK, i.e. around 53 million GBP. The issue, which was completed in February 2020, was the first asset-backed bond issue in Iceland since the crash in 2008.

Landslog currently does work for all the major banks in Iceland on various assignments and the Icelandic Financial Supervisory Authority. Landslog has advised Kaupthing bank hf. on various issues relating to the bank’s winding-up, regarding bankruptcy law, derivatives, set-off and other issues. The firm represented Islandsbanki in a case regarding the legality of indexation provisions on consumer loans and numerous other cases. Landslog advised Landsbankinn in its negotiations with the ‘old’ Landsbanki Íslands hf. and on drafting the necessary agreements in relation to the compensation instruments for the assets which were transferred to Landsbankinn following the collapse of the ‘old’ Landsbanki Íslands hf. in 2008.

M&A: Grimur Sigurdsson, partner at Landslog, acted as a legal advisor for HS Orka when its largest shareholder, Innergex Renewable Energy Inc. sold its entire shareholding to Macquarie Infrastructure and Real Assets for approx. 305 million USD in March 2019.

Partner Aslaug Arnadottir worked for Iceland’s third biggest retail chain Samkaup on their merger with parts of the retail chain Basko. The deal involved Samkaup buying 14 stores from Basko, all “Iceland” stores in Iceland and 7 10-11 stores. The Icelandic Competition Authority was notified of the merger in June 2018. The Icelandic Competition Authority approved Samkaup’s acquisition of 12 stores in the Reykjavik area from Basko verslanir in late 2018. In May 2019, however, the Icelandic Competition Authority annulled a merger, which concerns Samkaup’s acquisition of two stores owned by Basko verslanir in Akureyri and Reykjanesbær.  Landslog also performed a Due Dilligence review in relation to the merger.

Vidar Ludviksson was sole legal advisor to FAST-1 slhf. in the signing of heads of terms for the sale to Reginn hf. (a listed company) of two real-estate companies with an enterprise value of €185m. This was the single largest real estate transaction since the banking crisis in 2008.

Vidar Ludviksson advised Vodafone Iceland (i.e. Fjarskipti hf., listed on the Icelandic Nasdaq stock exchange) on the purchase of almost all assets and operations (including TV content agreements with foreign providers) from 365 midlar hf. This is the largest telecom and broadcasting asset purchase transaction ever in Iceland, with a value of around €69m.

Vidar Ludviksson and Jona Bjork Helgadottir advised Hagar hf. (Iceland’s largest retailer – listed on the Icelandic Nasdaq stock exchange) on the purchase of all shares in the oil company Oliuverzlun Islands hf. – a landmark in M&A deals in Iceland. The value of the deal is around €133m.

Vidar Ludviksson advised SMI ehf. on the purchase of all shares in Korputorg ehf. (the owner of the 45,000m sq Korputorg Shopping Center in Reykjavík).

Bankruptcy, reconstruction, receivership and more: Landslog specialises in bankruptcy and reconstruction and the courts have repeatedly appointed Landslog’s attorneys as receivers to manage many of the largest bankruptcy and reconstruction cases in Iceland, such as Milestone, Mosaic Fashion, V&Þ and numerous others. Furthermore, one of the largest bankruptcy estates in the world, Kaupthing bank hf., hired Landslog to take around 50 rescission cases to court on behalf of the estate.

Corporate and commercial: Landslog has acted for the largest companies in Iceland. Clients include Hagar, Iceland Prime Contractors, various ministries in Iceland, the National Power Company in Iceland, the Reykjavik Power Company, Bauhaus, Norvik Group, HB Grandi and various municipalities in Iceland, including Reykjavik.

Dispute resolution: the Icelandic government instructed partner Johannes Karl Sveinsson to represent it in various disputes in the wake of the Icelandic banking crises.

English insurers hired Vidar Ludviksson to handle claims made against them under D&O policies purchased by Landsbanki Islands hf., which entered under winding-up proceedings following the banking crash in 2008.  The ongoing cases (which were lodged in 2011 and 2012) are landmark cases with regard to D&O insurance practice in Iceland and are among the largest and most complex in Icelandic civil procedure. They have been followed closely by the U.K. insurance market.

Landslog successfully defended the insurance company Tryggingamidstodin hf. in several legal proceedings pertaining to D&O policies.

Landslog handles a 250-participant class action, lodged in October 2015, the first of its kind in Iceland, against the former largest owner of the Landsbanki Islands bank.

EEA, competition and state aid: Landslog represented the Icelandic government in state aid cases before the EFTA Surveillance Authority regarding the restructuring of the Icelandic banks.

Landslog represented Kortathjonustan (a card acquirer in Iceland) in the largest civil settlement relating to competition in Iceland which was reached on the payment of damages to Kortathjonustan due to Valitor‘s (VISA Iceland) and Borgun‘s (MasterCard Iceland) breaches against the Icelandic competition/antitrust rules.

Data protection and IT law: Landslog is the leading Icelandic law firm on issues pertaining to processing of personal data and the EU Data Protection Directive. One of Landslog’s partners was Iceland’s Data Protection Commissioner from 2013 to 2014. Landslog specialises in IT-related issues, including IP, telecommunications, software procurement contracts and electronic forensics. Among Landslog’s clients are Advania, Iceland Post and The Icelandic Data Protection Authority.

Department Name Email Telephone
Banking and finance Johannes Karl Sveinsson jks@landslog.is (+354)5202900
Restructuring Grimur Sigurdsson grimur@landslog.is (+354)5202900
Corporate and commercial Johannes B Bjornsson jbb@landslog.is (+354)5202900
M&A, Insurance, Dispute resolution Vidar Ludviksson vidar@landslog.is (+354)5202900
EEA, competition and state aid Aslaug Arnadottir aslaug@landslog.is (+354)5202900
EEA, competition and state aid Jona Björk Helgadottir jonabjork@landslog.is (+354)5202900
Data protection and IT Hordur Helgi Helgason hhh@landslog.is (+354)5202900
Construction, Development, Fisheries Gardar Gardarsson gardar@landslog.is (+354)5202900
Corporate, Competition Hlynur Halldorsson hlh@landslog.is (+354)5202900
Administrative, Zoning and Planning Ivar Palsson ivar@landslog.is (+354)5202900
Photo Name Position Profile
Mrs Aslaug Arnadottir  photo Mrs Aslaug Arnadottir Partner.
Mr Johannes Bjarni Bjornsson  photo Mr Johannes Bjarni Bjornsson Partner.
Mr Gardar Gardarsson  photo Mr Gardar Gardarsson Partner.
Mr Hlynur Halldorsson  photo Mr Hlynur Halldorsson Partner.
Mrs Jona Bjork Helgadottir  photo Mrs Jona Bjork Helgadottir Partner.
Mr Hordur Helgi Helgason  photo Mr Hordur Helgi Helgason Partner. Recent work: Hörður Helgi was the Data Protection Authority’s (DPA’s) first…
Mr Vidar Ludviksson  photo Mr Vidar Ludviksson Partner at Landslog Law Offices.  Main focus on Corporate and Commercial Law,…
Mr Ivar Palsson  photo Mr Ivar Palsson Partner.
Mr Grimur Sigurdsson  photo Mr Grimur Sigurdsson Partner. Recent work: Grimur acted as a legal advisor for HS Orka…
Mr Johannes Karl Sveinsson  photo Mr Johannes Karl Sveinsson Partner.
Number of lawyers : 20
Danish
English
German
Icelandic
Norwegian
Swedish
Contact : Vidar Ludviksson