Firm Profile > BBA//Fjeldco > Reykjavik, Iceland

BBA//Fjeldco
HÖFÐATORGI
19 FLOOR
105 REYKJAVÍK
Iceland

Banking, finance and capital markets Tier 1

Following its merger in late 2019, the newly incorporated BBA//Fjeldco fields a broad banking, finance and capital markets team which leverages offices in Iceland, England, France and New York to act for a range of international clients including major investment banks. The group's banking and finance work encompasses cross-border debt issuances, financings and refinancing instructions, while recent capital markets mandates include private placements and major IPOs on Nasdaq OMX. Halldór Karl Halldórsson is a key name for noteworthy transactions: he recently advised Arion Bank on its ISK49bn private placement, which was the first private placement by a large financial institution followed by a public offering of shares. Bjarki Diego's recent work includes assisting Asian Development Bank with its $250m loan to Arctic Green Energy and Sinipec Green Energy Geothermal Company to finance a major project in China. Dual-qualified (Iceland and New York) Ásgeir Ragnarsson has a wealth of experience in M&A, project financing and various commercial and company law matters. Gunnar Thor Thorainsson, who is qualified to practice in Iceland and England, is recognised for advising international investors engaged in Iceland and domestic investors exploring commercial opportunities abroad.

Key clients

Kvika bank hf.

Íslandsbanki hf.

Asian Development Bank

RPC Group PLC

Alvogen and Alvotech

Barclays Bank plc

Arion Bank hf.

JP Morgan

Citibank

HSBC

Nordic Investment bank

Japan Bank

BNP PARIPAS

Stefnir hf.

TBJ Group

Danske Bank A/S and Nordea Bank AB

RW Baird Nasdaq

Microsoft

Shanghai International Exchange

Commercial, corporate and M&A Tier 1

BBA//Fjeldco's 'solution oriented' practice has recently benefited from notable team growth with five lawyers joining the group in mid-2019 and a new London office, which was added following the merger between BBA and Fjeldsted & Blöndal. With a high-profile client roster, which includes major international banks and corporations, the team regularly handles acquisitions in the telecoms, energy and real estate sectors, and has notable expertise in refinancing and restructuring mandates. Einar Baldvin Árnason, who is praised as 'the best in his field', routinely acts for Icelandic companies and investment funds on corporate and commercial law matters. Qualified to practice in Iceland and France, co-head Baldvin Björn Haraldsson has a strong track record in M&A transactions and winding-up proceedings, and Ásgeir Ragnarsson, who is qualified in Iceland and New York, handles M&A, capital markets transactions and regulatory matters. Co-head Halldór Karl Halldórsson is also a key name to note.

Key clients

Macquarie (MIRA)

Norsk Hydro

Turkish Development Bank

Diversis Capital

Alvogen and Alvotech.

Arctic Green Energy

Kvika bank hf.

Íslandsbanki hf.

Stefnir hf.

RPC Group PLC

Arion Bank hf.

JP Morgan

Citibank

Goldman Sachs

Boeing Company

Nordic Investment bank

Japan Bank

Swiss Life

Glitnir hf.

Landsvirkjun hf.

Danske Bank A/S and Nordea Bank AB

ABN Amro bank

Expedia

Cisco

Microsoft

SJÓKLÆÐAGERÐIN HF. – 66°N

Restructuring and insolvency Tier 1

Following its 2019 merger, BBA//Fjeldco's practice is instructed on some of Iceland's leading restructuring and insolvency mandates spanning takeovers, private equity investments and refinancings. On the contentious side, the group has recently acted in D&O cases and disputes over share purchase agreements. In a recent non-contentious highlight, Ásgeir Ragnarsson advised Arion Bank on its takeover of the Nordic company Travelco following its default on loans owed to the client, representing one of few successful enforcements of a share pledge agreement of this type to take place in a Nordic country. Group co-head Einar Baldvin Árnason stands out for his active role in mandates emerging from the financial crash, and fellow co-head Gunnar Thor Thorarinsson assisted bondholders of Iceland's failed banks with restructuring issues and high-value settlement negotiations.

Key clients

Eaton Vance Management

Alvotech and Alvogen

TBJ Group

Turkish Development Bank, World Bank

Nox Holding ehf.

Diversis Capital

Kvika bank hf.

Íslandsbanki hf.

ODDEG 

SportsDirect.com Retail

The Collectivié de Strasbourg Metropole

Glitnir hf.

Arion Bank hf.

LBI ehf.

Kaupthing ehf.

Byr savings bank

Dispute resolution Tier 2

Following its recent merger, BBA//Fjeldco fields offices in Reykjavik, London and France, and also has New York qualified lawyers. The practice has been notably active in a wide range of damages claims including tort proceedings, construction disputes and cross-border mandates. In addition, the team also has a strong track record in cases arising from the 2008 financial collapse, and expertise in real estate and shareholder disputes. 'Strong diplomat' and group co-head Thorir Júlíusson, who is praised for his 'good commercial understanding', is acting for LBI in three separate tort proceedings relating to compensatory damages issues. Co-head Hafliði Kristján Lárusson, who is qualified in Iceland and England, specialises in disputes relating to IP, technology issues and data protection.

Testimonials

‘The team’s commercial understanding is sound, and they strike a good balance between flexibility and firmness when providing advice.’

‘Partners are generally engaged themselves on matters and provide very constructive advice.’

‘Halldór Karl Halldórsson has a pragmatic yet very professional approach to dealing with legal issues.’

‘Kári Ólafsson is highly proactive and very efficient in managing disputes.’

Key clients

LBI ehf.

Eik fasteignafélag hf.

Securitas hf.

LÍN

WOW air ehf.

Mannverk

CRI ehf.

The Arbitration Institute of the Finland Chamber of Commerce

FSCS (Financial Services Compensation Scheme)

Harpa Concert Hall

Axis Capital

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.

Since 1998 the merged firms have 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.

Practice areas
M&A: Mergers and acquisitions are an important part of BBA//FJELDCO’s legal services. We have played a major role in the majority of the largest 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 and commercial: BBA//FJELDCO is constantly ranked as leading in Iceland in the market for 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.

PFI/PPP: 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 and 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 baldvin@bbafjeldco.is +354 550 0503
Mergers and Acquisitions Halldór Karl Halldórsson halldor@bbafjeldco.is +354 550 0504
Corporate & Commercial Baldvin Björn Haraldsson baldvin@bbafjeldco.is +354 550 0503
Corporate & Commercial Halldór Karl Halldórsson halldor@bbafjeldco.is +354 550 0504
Competition Law Einar Baldvin Árnason einarbaldvin@bbafjeldco.is +354 550 0518
Banking and Finance Ásgeir Árni Ragnarsson asgeir@bbafjeldco.is +354 550 0501
Employment and Labour Law Haflidi Kristján Lárusson haflidi@bbafjeldco.is +354 550 0502
Energy Law Baldvin Björn Haraldsson baldvin@bbafjeldco.is +354 5500503
PFI/PPP Baldvin Björn Haraldsson baldvin@bbafjeldco.is +354 5500503
Capital Markets Ásgeir Árni Ragnarsson asgeir@bbafjeldco.is +354 550 0501
Capital Markets Gunnar Thor Thorarinsson gunnar@bbafjeldco.is +44 (0) 7595 057460
Financial Services/Fintech Haflidi Kristján Lárusson haflidi@bbafjeldco.is +354 550 0502
Restructuring and Insolvency Einar Baldvin Árnason einarbaldvin@bbafjeldco.is +354 550 0518
Dispute Resolution Thorir Júlíusson thorir@bbafjeleco.is +354 550 0507
Data Protection/Privacy Haflidi Kristján Lárusson haflidi@bbafjeldco.is +354 550 0502
Aviation Law and Aircraft Financing Haflidi Kristján Lárusson haflidi@bbafjeldco.is +354 550 0502
IP & Technology Law Haflidi Kristján Lárusson haflidi@bbafjeldco.is +354 550 0502
Photo Name Position Profile
Mr Einar Baldvin Árnason  photo Mr Einar Baldvin Árnason Partner
Mr Baldvin Bjorn Haraldsson  photo Mr Baldvin Bjorn Haraldsson Partner
Mr Bjarki Diego  photo Mr Bjarki Diego Counsel
Mr Halldór Karl Halldórsson  photo Mr Halldór Karl Halldórsson Managing Partner
Mr Thorir Júlíusson  photo Mr Thorir Júlíusson Partner
Mr Haflidi Kristján Lárusson  photo Mr Haflidi Kristján Lárusson Partner
Mr Ásgeir Ragnarsson  photo Mr Ásgeir Ragnarsson Partner
Number of lawyers : 25
Danish
English
French
German
Swedish
Norwegian
Icelandic
New York Bar Association
IBA (International Bar Association)
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