Team size:Four

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?

In my previous position as head of the legal and compliance department of a financial institution, I was required to oversee a large number of litigation cases, from the termination of leases to the recovery of leased assets, and to coordinate many in-house and external counsel. I came up with the idea to internally develop, in collaboration with the IT department, a case tracking software solution that monitored all phases of the court process, generated alerts for the timely filing of lawsuits and initiation of other out-of-court actions as well as produced informative reports. This software model was developed in-house, at a low cost, and custom made to fully meet the needs of the company and especially those of the legal department.

What are the most significant cases and/or transactions that your legal team has recently been involved in?

Prodea Investments is a very active real estate company, with a diversified property portfolio in various jurisdictions. Over the past year, my team has actively participated in various significant business transactions, including the acquisition of a hospitality company and a hotel situated on a Greek island, the sale and purchase of a sizable hotel and serviced apartments complex located in Italy. We have also been involved in the merger of two Luxembourg and two Italian real estate funds as well as the consolidation of multiple subsidiary companies within the Prodea Group. My team has facilitated the listing process of one of our joint hospitality ventures on the Cyprus Stock Exchange and modified one of our company’s major leasing agreements with a key tenant. We have also engaged in the sale and purchase of numerous real estate assets and collaborated on the development of a new legislative proposal to amend Greek real estate laws.

How important is choosing to work with external lawyers who align with your company’s values? Are you likely to reconsider what firms you work with based on this? 

Working with external lawyers who share our values ensures that the legal advice they provide is consistent with our ethical principles and code of conduct. This can allow the company to make decisions that are not only legally sound, but also aligned with its values, so that the company’s reputation is protected.  

My experience has proven that external lawyers who understand and respect a company’s values tend to work better with the in-house legal team and integrate seamlessly into its corporate culture. This leads to better communication, collaboration, and overall efficiency.

Furthermore, in my view, external counsel who understand a company’s values are better equipped to help the general counsel anticipate and manage legal risks that could arise from actions inconsistent with its code of conduct and ethics thus allowing the company to proactively face potential legal challenges.

We have established long-standing relationships with law firms and external counsel who have proven their competence and reliability and share a strong value-based culture. Value alignment with external counsel is an important consideration for their selection, along with their legal expertise of course.