Portugal – Out of the ruins

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As Portugal considers the implications of its recent €78bn bailout, LB assesses the impact it will have on the legal market and how Portuguese law firms can survive in an economy stuck in limbo

By the time that this issue of Legal Business hits desks, Portugal will be on the brink of electing its new government. What form that government takes remains to be seen, although a majority coalition involving one of the two largest parties (the Socialist Party and the Social Democratic Party) looks almost certain. Continue reading “Portugal – Out of the ruins”

Cyprus – Notes From A Small Island

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Improved relations with Russia and accession to the European Union are helping to transform Cyprus as a financial hub. LB looks at the impact on the local legal community.

Cyprus is fast approaching a tipping point in its international development. It may be an island of less than one million people, with a total of 2,000 lawyers, but its strengthening trade ties with Russia and the emerging markets, not to mention its accession to the European Union and some shrewd domestic legislative developments, have helped the country grow its profile in the international financial arena.

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Switzerland – On The Rise

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While several leading Swiss law firms contemplate their new lives as corporations, LB finds out what a series of high-profile partner exits means for Switzerland’s famously conservative legal market

This year, Zürich-based law firm Pestalozzi celebrates its 100th birthday. Just ten years ago, it joined forces with Geneva practice Lachenal Brechbuhl Cottier & Roguet to become Pestalozzi Lachenal Patry. But in late 2010, the two factions parted company, shutting down the Brussels office along the way.

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Eine kleine Nachtmusik

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With litigation from the banking crisis now starting to filter through in Austria, most commentators believe that disputes work will be a firm feature of the legal market for the next few years. LB explores some of the biggest trends to emerge from the banking crisis

There have been a few late nights at many of Austria’s top law firms in the past year. At the end of 2009, the government was dealing with the emergency nationalisation of the country’s sixth largest lender, Hypo Group Alpe Adria (HGAA), and Austria’s top lawyers had been called in to help clear up the mess.

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Going solo

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Equity partners from a number of big Austrian firms have decided to go it alone, setting up boutiques over the past 12 months. Legal Business explores the impact these moves are having on the market.

In the final days of last summer in downtown Vienna, a small law firm opened its doors for the first time. Nothing unusual there, except that this firm, Benn-Ibler Rechtsanwälte, was opened by five well-respected former DLA Piper Weiss-Tessbach partners who quit in January 2010. When the partners left their old firm, they walked out with a fifth of the firm’s revenue and 40% of its equity partners.

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System failure

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The Advocates General of the European Court of Justice have argued that more work needs to be done before a single European patents court replaces national jurisdiction in the EU. More than 20 years after it was mooted, a unified patent litigation system is still being debated.

If you thought patent lawyers were mild-mannered boffins, think again. You could almost hear the collective wailing and gnashing of teeth throughout the EU this summer when a leaked opinion appeared to shatter any hope of a unified patent litigation system being introduced in Europe. Continue reading “System failure”

A breath of fresh air

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Over the course of the past decade renewable energy has become a mainstream part of the energy sector. With investment flooding into projects across Europe, domestic and international firms are connecting with a new revenue stream

In renewable energy the emphasis is on thinking big. From the chain of offshore wind farms forming around Britain’s coast, to the solar plants strung out across southern Spain, to an ambitious proposal to cover parts of the Sahara with solar panels, billions are being poured into myriad projects. As national governments scramble to meet the targets agreed by the EU — to produce 20% less carbon dioxide, improve energy efficiency by 20% and increase renewable energy to 20% of the energy mix — investors and their advisers are getting to grips with a rapidly evolving sector.

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Home rule: Romania

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International firms in Romania don’t just face a weakened economy, they also face stiff competition from a host of major domestic rivals. Legal Business analyses a market in flux

Entering a new jurisdiction is never easy. On top of the start-up costs, the need to establish a strong team of local lawyers and a solid client base, there is also the tricky matter of timing. It can take up to two or three years of planning before you are finally able to put that new city onto your law firm’s website. By which time, the market that so attracted you in the first place might have altered drastically.

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Voyage of discovery: Portugal

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The downturn in Portugal’s economy means that overseas markets, including Africa and Brazil, have become an even more valuable source of work for the country’s law firms

Since Portuguese sailors began exploring the West Coast of Africa almost 600 years ago, the country has forged a reputation for venturing into new, overseas territories. Today, the countries of lusophone Africa and Brazil provide manifold investment opportunities for Portugal’s major corporates and their advisers.

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Nordic rivals

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As Finnish firm Roschier hires yet another partner in Stockholm, Legal Business reports on how world events and regional rivalries have transformed the approach and strategies of the Nordic legal profession

Rivalries are rarely more intense than the enmity between the Finland and Sweden ice hockey sides. Sweden took the plaudits in the recent Winter Olympics with a straightforward 3-0 win, but when it comes to legal market superiority, the Finnish have clearly roughed up the Swedes.

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