Firm Profile > BBA//Fjeldco > Reykjavik, Iceland


Banking, finance and capital markets Tier 1

BBA//Fjeldco focuses on cross-border financing and local loan transactions. Ásgeir Ragnarsson, who heads the team alongside Baldvin Björn Haraldsson, and Antoine Lochet, who is based in France, acted for Nordea Bank and Danske Bank on a $180m multicurrency term and revolving facilities agreement. Bjarki Diego and senior associate Stefán Reykjalín advised biopharmaceutical company Alvotech on credit agreements amounting to $146.5m. Other notable clients include Arion Bank, Nordic Investment Bank and Íslandsbanki.

Commercial, corporate and M&A Tier 1

Having achieved ‘a good balance between senior and junior people’, BBA//Fjeldco has ‘extensive experience in working with international clients’ on a full range of corporate issues. Ásgeir Ragnarsson jointly heads the department with Baldvin Björn Haraldsson, who is ‘extremely capable’ in providing M&A advice. Ragnarsson acts for major clients including Boeing, Microsoft, Dell and JP Morgan. The ‘very detailed, but highly commercial at the same time’ and ‘incredibly hardworking’ Bjarki Diego assisted Kvika banki with its €20bn merger with Virðing. Following the firm's merger with Fjeldsted & Blöndal in 2019, Halldór Karl Halldórsson is also an active member of the practice.

Restructuring and insolvency Tier 1

Headed by Einar Baldvin Árnason and Atli B. Þorbjörnsson, the 'very competent' corporate restructuring team at BBA//Fjeldco is involved in various ongoing claims that arose in the aftermath of the Icelandic banking collapse. Baldvin Björn Haraldsson led on advising the International Geothermal Association (IGA) on amendments brought to the IGA’s internal documents. Ásgeir Ragnarsson acted for Mastercard in bringing claims against Kortaþjónustan regarding issues arising from the bankruptcy of Monarch Airlines. Recently promoted senior associate Tómas Þórhallsson is also noted.

Dispute resolution Tier 2

Headed by Baldvin Björn Haraldsson and Atli B. Þorbjörnsson, the team at BBA//Fjeldco specialises in dispute resolution matters related to the banking and insurance sectors. The firm is handling multiple ongoing issues related to the 2008 banking collapse for clients including Swiss Life, Financial Services Compensation Scheme and Axis Specialty Europe Underwriters. Following its 2019 merger with Fjeldsted & Blöndal, Þórir Júlíusson and Hafliði Kristján Lárusson also contribute to the practice.

TMT and IP Tier 3

The IP practice at BBA//Fjeldco is headed by the ‘fantasticHafliði Kristján Lárusson. The firm advises a wide variety of clients on general TMT, IP and data protection issues arising in the fields of online banking, biotech investment and online travel services.

BBA//FJELDCO is the result of a merger of two leading corporate law firms in Iceland, BBA and Fjeldco. The merger creates a first-class, full-spectrum corporate law firm, being the obvious choice when complex and demanding corporate legal services are needed, whether local or international.
The merged firms have since 1998 been leading in the field of mergers and acquisitions, capital markets, banking and corporate finance, energy and PFI projects, as well as general corporate and commercial law.
We have been entrusted by our local and international clients to provide advice on many of Iceland’s biggest and most complicated financing and M&A deals, as well as the country’s most important PFI and energy projects. Our reputation in these areas of legal practice has resulted in a continuous top-tier ranking by all of the major ranking firms during the last decade.

The firm has over 25 specialized corporate lawyers, with qualifications in Iceland, England, France and New York.

BBA//FJELDCO has offices in Reykjavik and London, together with operations in France.

Practis Areas

Mergers and Acquisitions are an important part of BBA//FJELDCO’s legal services. We have played a major role in majority of the biggest and most important M&A deals in Iceland in recent years, whether acting for buyers, sellers or financing parties. BBA //FJELDCO is a key player in M&A legal services in Iceland and is confirmed as leading in that field by all the major ranking firms.

Corporate & Commercial
BBA//FJELDCO is constantly ranked as leading in Iceland on the market of corporate and commercial law. We have advised the vast majority of the largest companies in Iceland on their various corporate and commercial issues. Our corporate activities represent the core of our focus and of our services to the businesses operating on the Icelandic market. Our key focus remains on the international aspects of our clients’ operations.

Competition Law
BBA//FJELDCO advises its clients on all aspects of competition law, whether such issues arise in relation to M&A transactions or more generally regarding commercial agreements and market conduct, which may have competition-law relevance. Further, we regularly act for both Icelandic and international clients in their mandatory communication and notices to the Icelandic Competition Authority.

Banking and Finance
BBA//FJELDCO has vast experience in advising financial institutions and borrowers on all aspects of banking and finance. The firm has an excellent track-record with complex financing structures and we are as a result regularly trusted by all the local banks to handle their more complex, multi-jurisdictional financing deals. Our reputable performance in banking and finance has secured BBA//FJELDCO with a top-tier ranking in this field with all major ranking firms.

Employment and Labour Law
BBA//FJELDCO advises its corporate clients on all employment law related matters, both contentious and non-contentious, such as negotiating employment contracts, set-up of options and bonus schemes, implementation of remuneration policies and assisting companies when redundancies are required. Also, BBA//FJELDCO has an extensive experience in handling complex negotiations and drafting of employment contracts and termination agreements with senior managers.

Energy Law
BBA //FJELDCO has in recent years been active in the field of Energy Law. The firm has advised Icelandic companies in geothermal ventures in countries around the world, including the Philippines, Indonesia, China, Abu Dhabi, Nepal and Ethiopia. Furthermore, BBA//FJELDCO has advised Icelandic energy companies in securing terrain for geothermal research as well as advising on Power Purchase Agreements and Project Agreements. As a result of this, we have also gained substantive experience in dealing with foreign governments and energy authorities in matters concerning licenses, such as for feasibility studies, exploration drilling, construction of facilities and operations.

BBA//FJELDCO has in recent years been heavily involved in advice to Icelandic authorities in PFI/PPP matters. We have advised the Icelandic government and the City of Reykjavik since 2005 in all matters concerning the design, construction and operations of Harpa, the Concert and Conference Hall on the Reykavik harbour. We have furthermore been active in matters concerning public procurement, advising among others the Icelandic State Trading Centre, as well as the Icelandic Government and the City of Reykjavik concerning a public procurement of land.

Capital markets
BBA//FJELDCO regularly advises its clients on capital-raising (including public listings) and financing strategies in relation to acquisitions, take-overs and reorganisation projects. BBA//FJELDCO has advised on many of the public listings in Iceland during the last decade, both on the Nasdaq Iceland main market and the Nasdaq First North Growth Market.

Financial Services/Fintech
BBA//FJELDCO provides its clients with in-depth advice and assistance in relation to their regulatory issues and internal organisation. BBA//FJELDCO has advised its financial clients on obtaining operating licenses, handled communications with the Icelandic Financial Supervisory Authority, and assisted companies with structuring and set-up of internal rules and standardized terms and conditions. Also, BBA//FJELDCO has substantive expertise in fintech projects.

Restructuring and Insolvency
BBA//FJELDCO regularly advises on corporate restructuring, workouts and insolvency matters, both transactional and contentious. We strive to find commercially sound and efficient solutions to complex issues arising in this context and our approach is strategic and problem-solving in order to reach the ultimate outcome for our clients.

Dispute Resolution
BBA//FJELDCO has an experienced team in litigation and local/international arbitration and mediation, including ICC, LCIA and WIPO arbitration and mediation. Our partners can be found on the panel of arbitrators at international arbitral institutions, they have served as members of the International Court or Arbitration of the ICC and on the board of the Nordic Arbitration Centre, Iceland.

Data Protection/Privacy
BBA//FJELDCO advises its clients on all aspects of data protection/privacy matters, including data protection audits, data mapping, appropriate data protection policies, procedures and assessments both in relation to employee and client data, adequate responses and action in the event of data breach, communication with the Icelandic Data Protection Authority and contentious matters under Icelandic data protection law and the GDPR.

Aviation Law and Aircraft Financing
BBA//FJELDCO has an in-depth expertise in relation to aviation and aircraft financing matters. We advise airlines, lenders and lessors on complex regulatory and transactional matters and most of our work in this field is international in nature.

IP & Technology Law
BBA//FJELDCO has in-depth expertise in intellectual property and technology matters, both local and cross-border. Our practice covers all aspects of complex IP & Technology matters, for instance in relation to FMCG, virtual reality, biotech, fintech, renewable energy and cloud computing projects.

Department Name Email Telephone
Mergers and Acquisitions Baldvin Björn Haraldsson +354 550 0503
Mergers and Acquisitions Halldór Karl Halldórsson +354 550 0504
Corporate & Commercial Baldvin Björn Haraldsson +354 550 0503
Corporate & Commercial Halldór Karl Halldórsson +354 550 0504
Competition Law Einar Baldvin Árnason +354 550 0518
Banking and Finance Ásgeir Árni Ragnarsson +354 550 0501
Employment and Labour Law Haflidi Kristján Lárusson +354 550 0502
Energy Law Baldvin Björn Haraldsson +354 5500503
PFI/PPP Baldvin Björn Haraldsson +354 5500503
Capital Markets Ásgeir Árni Ragnarsson +354 550 0501
Capital Markets Gunnar Thor Thorarinsson +44 (0) 7595 057460
Financial Services/Fintech Haflidi Kristján Lárusson +354 550 0502
Restructuring and Insolvency Einar Baldvin Árnason +354 550 0518
Dispute Resolution Thorir Júlíusson +354 550 0507
Data Protection/Privacy Haflidi Kristján Lárusson +354 550 0502
Aviation Law and Aircraft Financing Haflidi Kristján Lárusson +354 550 0502
IP & Technology Law Haflidi Kristján Lárusson +354 550 0502
Photo Name Position Profile
Mr Einar Baldvin Árnason  photo Mr Einar Baldvin Árnason
Mr Baldvin Bjorn Haraldsson  photo Mr Baldvin Bjorn Haraldsson
Mr Bjarki Diego  photo Mr Bjarki Diego
Mr Halldór Karl Halldórsson  photo Mr Halldór Karl Halldórsson
Mr Thorir Júlíusson  photo Mr Thorir Júlíusson
Mr Haflidi Kristján Lárusson  photo Mr Haflidi Kristján Lárusson
Mr Ásgeir Ragnarsson  photo Mr Ásgeir Ragnarsson
Number of lawyers : 25
New York Bar Association
IBA (International Bar Association)