ADVEL Attorneys at Law > Reykjavik, Iceland > Firm Profile

ADVEL Attorneys at Law
SUDURLANDSBRAUT 18
108 REYKJAVIK
Iceland

Iceland > Real estate and construction Tier 1

ADVEL Attorneys at Law counts domestic and international companies across the real estate and energy sectors, including Mannvit Engineering and Kolufell, on its key roster of clients. The team successfully represented real estate developer Reitir before the appeals court in a case involving the correction of an encumbrance error by the public registrar, regarding a property in Hallarmuli, Reykjavik. Guðmundur Siemsen leads the practice and is noted for his experience in projects and disputes relating to landmarks, contractor issues, planning and construction cases, and public procurement work.

Practice head(s):

Guðmundur Siemsen

Key clients

Mannvit hf.

Balcke-Dürr

SPX Corporation

Reitir Real Estate

Kolufell

Arion Bank

Vatnaskil

Work highlights

  • Representing SMI ehf. in defence of a claim for an alleged pre-emptive right of the plaintiff, under a lease agreement.
  • Representing Reitir Real Estate before the appeals court, Landsréttur, in a case involving the correction of an encumbrance error by the public registrar.

Iceland > Banking, finance and capital markets Tier 2

Counting Arion Bank as one of its key clients, ADVEL Attorneys at Law continues to collaborate with international law firm Allen & Overy LLP and provides ongoing advice as local counsel to Arion Bank on its EMTN and covered bond programmes. The team, which is led by corporate partner Stefán Þór Ingimarsson, advises insurance companies and other financial institutions on reorganisations, loan agreements and financing matters. Other key members of the team include Ragnar Guðmundsson, Dóra Sif Tynes and Bjarni Þór Bjarnason, who joined the firm in mid-2021 from Deloitte Legal ehf..

Practice head(s):

Stefán Þór Ingimarsson

Testimonials

‘Highly capable and thorough. Great market insight.’

‘I mostly rely on Dóra Sif Tynes in issues relating to capital markets. Given her extensive experience in EU/EEA regulations and compliance systems she can provide a service and advice built on deep understanding and skill. Ragnar Guðmundsson has advised us on banking and finance work. He has extensive overall experience in the field, which is very well complemented with his expertise in tax legislation. Stefán Þór Ingimarsson is also exceptionally knowledgeable, efficient, and thorough in drafting and advising on financing contracts and documentation.’

‘Every person at the firm has outstanding capabilities in their field and they seamlessly involve the best lawyer in each issue at hand, making sure that you always get the best possible service.’

Key clients

Arion bank

Hampidjan

Advania Group

Klappir Green Soulutions

VÍS

N1 hf.

Oryggismidstodin

atNorth: Sustainable Nordic Data Centers

Samskip

Reitir Real Estate

Work highlights

  • Providing ongoing advice to Arion Bank on its EMTN programme.
  • Providing ongoing advice to Arion Bank on its €1.5bn covered bond programme.
  • Providing ongoing advice to Arion Bank in relation to issuances under the EMTN programme, as local advisers to the issuer.

Iceland > Commercial, corporate and M&A Tier 2

ADVEL Attorneys at Law has notable experience in high-end transactions and recently advised leading Nordic IT company Advania on the sale of a majority stake to Goldman Sachs. Stefán Þór Ingimarsson leads the practice group and is praised for ‘understanding the complexities of international matters’, particularly in relation to the refinancing and reorganisation of Icelandic companies. Bjarni Þór Bjarnason joined the firm from Deloitte Legal ehf. in mid-2021, following the departure of Kristinn Hallgrimsson to an in-house position at Arta in early 2021.

Practice head(s):

Stefán Þór Ingimarsson

Testimonials

‘Stefán Þór Ingimarsson is capable and also very well connected in Iceland. Thanks to his international experience, he quickly understands the complexity of international matters and easily collaborates with lawyers from different jurisdictions.’

‘Highly knowledgeable and insightful. Very responsive and a pleasure to work with.’

‘Excellent communication. Good people with very a professional presence. Ragnar Guðmundsson is resourceful, very capable and has very good communication skills. Stefán Þór Ingimarsson is very experienced and is a rock in difficult situations.’

Key clients

Arion Bank

Hampidjan

Advania Group

Reitir Real Estate

VÍS

Klappir Green Solutions

Oryggismidstodin

Brim hf.

Valitor hf.

N1 hf.

Work highlights

  • Advising Advania in relation to the disinvestment of the company where funds managed by Goldman Sachs Merchant Banking Division acquired a majority stake.
  • Advising Hampidjan Group regarding the group’s various M&A transactions, including its acquisition of Jackson Trawls, Scotland.
  • Acting as Arion’s counsel in a state aid complaint case lodged with the EFTA Surveillance Authority.

Iceland > Dispute resolution Tier 2

ADVEL Attorneys at Law has experience representing a roster of domestic and international clients in high-end disputes before the district, EU and EFTA courts, and is noted for its experience in handling cases involving major financial institutions. Key clients include the Icelandic Government and Vodafone; the team is representing the latter in an appeal to the EFTA Court regarding a state aid decision adopted by the EFTA Surveillance Authority. Guðmundur Siemsen leads the group and is supported by EEA and EU law specialist Dóra Sif Tynes. Kristinn Hallgrímsson left the firm in 2021 to join Arta.

Practice head(s):

Guðmundur Siemsen

Other key lawyers:

Testimonials

‘The team has many years’ experience and very internationally orientated.’

‘Guðmundur Siemsen is very experienced and convincing in the court room. You feel reassured when he is on your team.’

Key clients

The Icelandic Government

Arion bank

Advania Group

SMI ehf.

N1 hf.

Mannvit Engineering

Stræto bs.

Air Atlanta

Vodafone

Askja

Work highlights

  • Representing Vodafone in an appeal to the EFTA Court of a state aid decision adopted by the EFTA Surveillance Authority.
  • Acted for Álfasaga ehf. in a case filed by Eldum rétt ehf., in relation to a dispute over trade marks.
  • Representing Brim in a number of employment disputes before the District Court and the Appeals Court.

Iceland > EEA and competition Tier 2

ADVEL Attorneys at Law’s EEA and competition team counts domestic and multinational companies, including Vodafone, as well as employees and public institutions among its key list of clients. The team has experience before the Icelandic Competition Authority, Icelandic courts and the EFTA Surveillance authority, and handles a range of matters, notably state aid issues and competition disputes. Praised for her ‘intimate knowledge of EU law’, Dóra Sif Tynes leads the practice.

Practice head(s):

Dóra Sif Tynes

Testimonials

‘Very strong Icelandic practice with a good understanding of international aspects.’

‘Dóra Sif Tynes is very knowledgeable and responsive with intimate knowledge of EU law.’

Key clients

The Icelandic Government

Arion bank

Advania Group

Reitir Real Estate

N1 hf.

Mannvit Engineering

Stræto bs.

City of Reykjavik

Vodafone

Work highlights

  • Engaged as counsel by Sýn hf. (Vodafone Iceland) to appeal a decision of the EFTA Surveillance Authority concerning state aid to Farice for the roll-out of a third submarine cable for international connectivity in electronic communications.
  • Acting as counsel to Arion Bank in a state aid complaint case, related to debated bank tax, lodged with the EFTA Surveillance Authority.
  • Assisted numerous clients, including the insurance company VÍS and the First North listed Klappir Grænar Lausnir, in preparations for the implementation of MiFID II and MAR in Iceland.

Iceland > Employment Tier 2

ADVEL Attorneys at Law handles a range of employment and labour law matters, often involving a cross-border element, including redundancies, transfer of employee issues share options plans. The team counts Icelandic companies across the energy, banking, fishing and IT sectors, as well as public authorities, on its key roster of clients. Following the departure of Óskar Norðmann in February 2021 to Arta, Stefán Þór Ingimarsson leads the practice group and is supported by Guðmundur Siemsen.

Practice head(s):

Stefán Þór Ingimarsson

Other key lawyers:

Testimonials

‘Knowledgable team, very responsive and quick to complete all requests in an outstanding manner.’

Key clients

Mannvit hf.

The Icelandic Government

Hatch Technologies

Hampidjan

Advania

Arion bank

Rio Tinto

Iceland > Restructuring and insolvency Tier 2

ADVEL Attorneys at Law handles company reorganisations, distressed funding issues and financial restructuring matters, in addition to bankruptcy proceedings, and acts a key adviser to Arion Bank. The team also counts Festi and leading Nordic IT company Advania on its key roster of clients. Litigator Guðmundur Siemsen jointly leads the practice group alongside attorney-at-law Svanhildur Anna Magnúsdóttir.

Practice head(s):

Guðmundur Siemsen; Svanhildur Anna Magnúsdóttir

Testimonials

‘Experience and ability to think outside of the box.’

Key clients

Festi hf.

Advania Ísland ehf.

Festing hf.

Arion Bank hf.

Iceland > TMT and IP Tier 3

ADVEL Attorneys at Law’s workload includes handling the registration of trade marks and domains, in addition to license agreements, often involving a cross-border element, and IP protection matters. The TMT and IP team acts for technology and development companies, including the Advania Group and Hampidjan, as well as food and beverage sector clients. Stefán Þór Ingimarsson leads the practice, while Kristinn Hallgrímsson departed in mid-2021 to Arta.

Practice head(s):

Stefán Þór Ingimarsson

Key clients

Advania Group

Hampidjan

Calor ehf.

Polyhudun ehf.

Bayer Corporation

Vatnaskil ehf.

Lactol ehf.

CoPeerRight Agency

The firm: ADVEL Attorneys at Law is a leading Icelandic law firm, providing a full range of legal services for individuals, corporations and institutions alike, both foreign and domestic. The law firm traces its roots back to 1966 to the formation of Logvisi. From the very beginning Logvisi, and later ADVEL, has first and foremost been a corporate and commercial law firm with a strong standing in dispute resolution, providing legal services to several of Iceland’s largest companies, government authorities and pension funds, advising its clientele both locally and abroad. Over the years it has also provided substantial advice to foreign clients seeking business in Iceland.

ADVEL Attorneys at Law has been extensively relied upon during the ongoing financial crisis, with its lawyers advising various financial institutions, companies, local and foreign creditors and official authorities, including the FME. This involves advice on the new emergency legislation, foreign currency restrictions, financial restructuring, redundancies, composition with creditors, sale of assets and advice on insolvency and bankruptcy procedures applicable within the Icelandic jurisdiction.

ADVEL Attorneys at Law has a long history of serving international clients, as well as local clients abroad, pioneered by one of its early founders, attorney Jon Finnsson, who attended both Universität Hamburg and Johan-Wolfgang-Goethe-Universität in Frankfurt am Main. He counselled numerous foreign clients and all of the firm’s major local clients abroad, from 1966 until he retired in 2004. The law firm’s attorneys have maintained this tradition. It currently counts 20 attorneys, with legal education from nine different countries and substantive work and litigation experience in Europe and the US. Its attorneys are proficient in English, German, Danish, Norwegian, Swedish and Spanish. ADVEL takes pride in an exceptionally strong international team and can safely say that it is unmatched by other Icelandic law firms. Through ADVEL’s membership of Globalaw, a leading global law firm network, it is linked to 116 law firms with over 5,000 lawyers, enabling it to provide clients with an international legal resource and providing assistance in cross-border dealings.

Areas of practice: ADVEL Attorneys at Law is one of Iceland’s leading law firms. ADVEL represents many of Iceland’s most prominent companies, public authorities and individuals, as well as having served numerous foreign clients in this time. Its practise currently consists of 20 attorneys, and fundamental clients include N1 (Esso/Exxon), Vodafone, Arion Bank, Advania, HB Grandi, Alfesca, Reykjavik City Hall, local municipal governments, Iceland Seafood International, Mannvit Engineering, Alcoa and Frumherji, to name a few.

Corporate and M&A is one of the firm’s primary practices, based on a decade-long experience, and includes consultation for all its major clients. The firm’s other areas of practice include: banking, finance and tax; dispute resolution; EEA, EU and competition; employment and labour; maritime, aviation and transport; projects and PFI; energy and environmental, restructuring and insolvency; trademarks and intellectual property.

Reference is made to the firm’s online submissions for further work highlights.

DepartmentNameEmailTelephone
Banking, finance and tax Sigurdur V Gudjonsson
Banking, finance and tax Sigrun H Johannsdottir
Banking, finance and tax Stefan Thor Ingimarsson
Corporation and commercial Kristinn Hallgrimsson
Corporation and commercial Stefan Thor Ingimarsson
Corporation and commercial
M&A Sigurdur V Gudjonsson
M&A Stefan Thor Ingimarsson
Foreign investments, contracts Dora Sif Tynes
Foreign investments, contracts Stefan Thor Ingimarsson
EU, EEA and competition Dora Sif Tynes
Administrative and local government Gudmundur Siemsen
Administrative and local government Oskar Nordmann
Bankruptcy, insolvency Gudmundur Siemsen
Bankruptcy, insolvency Kristin Hallgrimsson
Maritime, aviation and transport Jon Ogmundsson
Maritime, aviation and transport Kristinn Hallgrimsson
Litigation Gudmundur Siemsen
Trade marks, intellectual property Sigurdur Valgeir Gudjonsson
Employment and labour Oskar Nordmann
Employment and labour
Energy and environmental Gudmundur Siemsen
PhotoNamePositionProfile
Kristinn Hallgrimsson  photo Kristinn Hallgrimsson Mr. Hallgrimsson is a respected professional with over two decades of extensive…
Stefan Thor Ingimarsson  photo Stefan Thor Ingimarsson Mr. Ingimarsson holds an LL.M. In International Economic and Business law from…
Gudmundur Siemsen  photo Gudmundur Siemsen Mr. Siemsen has extensive experience in litigation, in particular disputes concerning landmarks, planning…
David Orn Sveinbjornsson  photo David Orn Sveinbjornsson Mr. Sveinbjornsson’s field of expertise is international business law, in particular legal…
Dora Sif Tynes  photo Dora Sif Tynes Ms Tynes is an expert in the field of EU and EEA Law…
Number of lawyers : 16
Danish
English
German
Icelandic
Spanish
Swedish
Globalaw - the international law group (www.globalaw.net)
Iceland Chamber of Commerce
Contact : Ragnheidur Thorkelsdottir (managing partner)