Sponsored briefing: Legal trends in Greece

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Sponsored briefing: Legal trends in Greece

After overcoming a decade-long financial recession, Greece is currently going through a period of political stability and economic growth. During this period, the Greek government has taken a proactive role in charting a determined course for Greece that is friendly to investment, promotes growth and welcomes new business, primarily by enacting legislation that provides considerable incentives to investors.

In particular, during the year 2021, the Greek economy manifested a GDP growth of 8.3% and welcomed an increase of 90.2% in Foreign Direct Investment (FDI), in accordance with the data provided by the Hellenic Statistical Authority and Bank of Greece respectively. Continue reading “Sponsored briefing: Legal trends in Greece”

Sponsored briefing: Green bonds: the future of equity financing?

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Sponsored briefing: Green bonds: the future of equity financing?

1. A BURGEONING INDUSTRY
Green bond issuance is expected to balloon over the next few years. On a global scale, predictions for 2023 alone estimate up to $600bn will be raised from green bonds, with Europe playing a leading role in this. The European Commission will fund up to €250bn over the next few years by issuing NextGenerationEU green bonds, making the EC the largest green bonds issuer in the world. Greece is expected to raise substantial amounts through green bonds in order to reduce greenhouse gas emissions by 55% by 2030 and achieve net-zero by 2050. Continue reading “Sponsored briefing: Green bonds: the future of equity financing?”

Sponsored briefing: The importance of the Greek jurisdiction and Greek law in international shipping disputes

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Sponsored briefing: The importance of the Greek jurisdiction and Greek law in international shipping disputes

Alexander C Dovles, partner at Saplegal – A.S. Papadimitriou & Partners Law Firm, outlines why knowledge of the Greek jurisdiction and law is often crucial in shipping disputes

Historically, Greece has always been a maritime nation, which is distinctly reflected in the modern Greek economy. Undoubtedly, Greece remains today the top ship-owning nation in the world, since the Greek shipowners with their 5,514 ships currently control approximately 21% of the global fleet. Continue reading “Sponsored briefing: The importance of the Greek jurisdiction and Greek law in international shipping disputes”

Sponsored briefing: A guide to NFT and metaverse-related trade marks

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Sponsored briefing: A guide to NFT and metaverse-related trade marks

Over the past year, each of us started to become more familiar with the terms such as non-fungible tokens (NFT), blockchain, digital assets or metaverse and it is obvious that we will be using these terms even more. Despite the growing popularity of the matter, there are either no or limited regulations available on the same while the virtual world will be a host of numerous legal issues.

Although it is interpreted as possible to obtain legal protections in other legal remedies, considering the advantages of trade mark registration, it is advisable to file a trade mark application which will also be able to provide protection in the metaverse based on Article 7 of the Turkish Industrial Property Code (IPC), which prescribes as follows: ‘Trade mark protection provided by this Code shall be acquired by registration.’ Continue reading “Sponsored briefing: A guide to NFT and metaverse-related trade marks”

Caribbean Offshore Report: Light behind the cloud

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Caribbean Offshore Report: Light behind the cloud

While 2022 began with renewed hope as the world began to bounce back after two unprecedented years of upheaval, it took just a few short weeks for that bubble to burst, with Russia’s invasion of Ukraine shaking the markets and raising the spectre of a global recession.

However, law firms throughout the Cayman Islands (Cayman), the British Virgin Islands (BVI) and Bermuda have risen to the challenge, enjoying a year of growth and landmark transactions. Continue reading “Caribbean Offshore Report: Light behind the cloud”

UK Offshore Report: Weatherproof

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UK Offshore Report: Weatherproof

In our 2022 offshore feature, firm leaders were relatively sanguine when scanning the horizon for the upcoming year’s challenges. Having ridden out almost two years of Covid-19 lockdowns, global economies – with the notable exception of China – had largely reopened, including the Crown Dependencies themselves, which had ended travel restrictions at the same time as their key clients in London.

Then, almost to the day, as readers removed the cellophane from their copies of the January/February 2022 issue of Legal Business, Russia invaded Ukraine – and the world’s economic prospects changed immeasurably. However, as material as these challenges undoubtedly are, they have yet to fully arrive on the desks of the lawyers of Jersey, Guernsey and the Isle of Man. Continue reading “UK Offshore Report: Weatherproof”

Euro Elite 2023: Baltics – Covering all bases

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Euro Elite 2023: Baltics – Covering all bases

‘The future is Pan-Baltic!’ says Vilius Bernatonis, managing partner of TGS Baltic’s Lithuania branch. He is referring to the integration goals of Baltic states’ major firms, which aim to ensure that legal expertise from a firm’s office in one Baltic nation will be readily available to its client in another. But his words have a broader resonance. Though distinct, Estonia, Latvia and Lithuania co-operate at nearly every economic level, investing in the infrastructure, energy and technology of one another to foster shared growth and development. They do so because in numbers there is strength. In numbers, there is safety.

Looking at the structure of the Baltic legal market in general terms, at the top is the pan-Baltic bracket comprising Ellex, TGS Baltic, Cobalt and Sorainen, all of which offer full-service, cross-border practices covering all areas of law in Estonia, Lithuania and Latvia. According to Liga Merwin, managing partner at Ellex [Latvia], ‘the pan-Baltic firms remain largely unchallenged’. Continue reading “Euro Elite 2023: Baltics – Covering all bases”

Euro Elite 2023: Benelux – Hitting the buffers

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Euro Elite 2023: Benelux – Hitting the buffers

In last year’s overview, we predicted full steam ahead for the Benelux market – a reflection of the buoyant sentiments swirling in the region as Europe emerged from the Covid-19 pandemic. But the road turned out to be rockier than expected as the outbreak of the largest land war in Europe combined with the after-effects of the pandemic to send inflation soaring and rupture supply chains.

Nonetheless, there were times throughout 2022 when dealmaking thrived across the Benelux region. Hans Witteveen, managing partner in Stibbe’s Amsterdam office, observed ‘a remarkable level of activity, certainly involving large-cap deals’. However, this didn’t last. As the year progressed, the foreboding economic climate dashed hopes of a continued M&A surge. This tapered growth was felt strongly in capital market hotspots, including the Netherlands, as financings struggled to gain a foothold in the face of increasing inflation and reactive interest rate hikes. Continue reading “Euro Elite 2023: Benelux – Hitting the buffers”

Euro Elite 2023: CEE – Looking ahead

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Euro Elite 2023: CEE – Looking ahead

Across the CEE region, uncertainty was the watchword throughout 2022, and the pattern looks set to continue. Although independent firms remain well placed to make the most of booming practice areas, the ongoing conflict in the region, coupled with the lingering effects of the Covid-19 pandemic, has resulted in a volatile market.

In the Czech Republic, exorbitant oil and gas prices have hit businesses hard, and, although this did not cause an immediate drop in regular financing transactions, state and EU intervention is anticipated in 2023. Despite the strong start to 2022 and hopes of post-pandemic recovery across the board, the macro-economic challenges in the second half of the year have left a much emptier pipeline for law firms, with many major stakeholders waiting to see what unfolds. The domestic real estate market, meanwhile, is seeing stagnation following the overheating of real estate prices in the last few years, while current inflation means there are cumbersome restrictions on mortgages. Continue reading “Euro Elite 2023: CEE – Looking ahead”