Sponsored firm focus: Focus on Matouk Bassiouny UAE

Sponsored firm focus: Focus on Matouk Bassiouny UAE

Office 601, Maze Tower, Sheik Zayed Road, Dubai, UAE

T: +(971) 4289 2195 | E: dubaiinfo@matoukbassiouny.com | W: www.matoukbassiouny.com

Practice areas: Corporate and M&A, capital markets, dispute resolution, and finance and projects

Firm profile

Matouk Bassiouny is a leading, full-service MENA law firm with offices in Algiers, Algeria (Matouk Bassiouny in association with SH-Avocats), Cairo, Egypt (Matouk Bassiouny & Hennawy), Abu Dhabi and Dubai, UAE (Matouk Bassiouny) and Khartoum, Sudan (Matouk Bassiouny in association with AIH Law Firm), as well as a country desk covering our Libya practice. Our four offices are strategically located to better serve our clients’ business interests across the entire MENA region.

Our team of over 200 lawyers specialises in advising multinationals, corporations, financial institutions and governmental entities on all legal aspects of investing and doing business in the MENA region.

Trained both locally and internationally in civil and common law systems, our lawyers are deeply ingrained with international best practices and are fully conversant in English, Arabic and French.

Our firm collectively has access to a vast amount of knowledge and experience. We harness this knowledge via our 16 sector-focused groups that support our practice groups. We are therefore able to deliver legal services catered to the industry-specific needs of our clients. Our mission is to find the most innovative and cost-effective solutions for our clients, as we understand that our clients need to drive maximum value from their legal spending. We do this by maintaining a proactive commercial approach to all our legal services.

Team profile

Matouk Bassiouny established its Dubai location in 2018, and since then has quickly established itself as one of the leading local law firms in the UAE. Led by our UAE office managing partner, Jirayr Habibian, our lawyers are experts in advising on all aspects of UAE law. Our Dubai and Abu Dhabi offices are well placed to provide local legal support across the GCC.

We advise both local and international companies on a full range of issues from contentious and non-contentious corporate and commercial matters.

At a glance: Matouk Bassiouny UAE

Headcount: 200+ lawyers, 24 partners, 100+ support staff

Offices: Algiers, Algeria; Abu Dhabi, UAE; Cairo, Egypt; Dubai, UAE; Khartoum, Sudan

Key clients: CDC Group, Uber, Etisalat Misr, Pfizer, LafargeHolcim, Lekela Power, First Abu Dhabi Bank, Development Partners International, Hassan Allam, Hilton

Sponsored briefing: Alternative dispute resolution in Cyprus

Sponsored briefing: Alternative dispute resolution in Cyprus

Stavros Pavlou and Athina Patsalidou on how Cyprus has embraced alternative dispute resolution, becoming an increasingly attractive venue for arbitration proceedings

As Cyprus has emerged as an international business centre it requires an efficient and effective dispute resolution mechanism that will allow stakeholders to move on from disputes and concentrate on their core business. Given the long delays experienced within the traditional court system, arbitration as an alternative dispute resolution method, provides such an efficient system for dispute resolution and promotes economic activity in Cyprus. The main areas in which arbitration is used in Cyprus are commercial disputes, shareholder disputes, construction disputes and banking disputes between debtors and financial institutions. Continue reading “Sponsored briefing: Alternative dispute resolution in Cyprus”

Bulgaria – M&A and energy boom

Bulgaria – M&A and energy boom

Bulgaria has, to say the least, performed commendably at shielding its economy from the significant disruption seen in many other European markets. GDP sank 4.2% in 2020, one of the lowest figures in the EU, and was partly supported by an extensive wage subsidy scheme that saw the government cover 60% of wages for employees who would otherwise have been made redundant.

Unsurprisingly, the relatively stable economic climate has allowed larger law firms, both international and local, to continue undisrupted throughout the pandemic period. Veronika Hadjieva of Kambourov & Partners reports that ‘2020 was arguably one of the strongest years the firm has ever had’ as it ‘managed to complete a large number of M&A, even some that were initially put on hold or pending’. Continue reading “Bulgaria – M&A and energy boom”

Sponsored briefing: Family offices: current challenges and trends

Sponsored briefing: Family offices: current challenges and trends

The outbreak of the Covid-19 pandemic has affected not only public health and the well-being of humanity, but also a number of economies, businesses and industries worldwide. Family offices have not remained unaffected; not only by coronavirus but also by the ever-shifting global economic environment. New trends that have arisen during the Covid era, including remote working and the demand for greater connectivity, as well as novel strategic and operational risks, are forcing family offices to rethink the way they have been traditionally doing business.

New trends and challenges

The majority of family offices were until recently relying on a more traditional model for their operation; having a few loyal employees and depending on the decision-making power of the head of the family. Currently, however, family offices are faced with a number of new matters that need to be addressed. Namely, have priorities shifted? Is the existing structure and location of the family office fit for purpose? Can the IT infrastructure in place support the electronic requirements of this new era? What about the younger generation – is it willing to step up and adapt to the new conditions? Continue reading “Sponsored briefing: Family offices: current challenges and trends”

Sponsored briefing: Interview: Mr Nikolay Cvetanov – managing partner, Penkov, Markov & Partners

Sponsored briefing: Interview: Mr Nikolay Cvetanov – managing partner, Penkov, Markov & Partners

Can you give our Legal Business readers an overview of Penkov, Markov & Partners?

Penkov, Markov & Partners ( PM&P) was one of the first law offices established in Bulgaria immediately after the democratic changes in the country in 1990. During all these years we have been pioneers in various legal spheres. Currently, our law firm provides to its clients a full scope legal assistance in practically all areas of civil and administrative law, eg corporate and commercial law, real estate, banking and financial regulations, energy, competition, personal data protection, pharmaceuticals, litigation, etc. Our clients include a variety of domestic and international companies of varying sizes. Our team of experts is engaged on a daily basis with the provision of legal assistance to some of the primary Bulgarian businesses operating in various spheres of economy. PM&P is part of some of the leading international law organisations, including Lex Mundi, LexAdria, etc, as our office, as well as individual experts, are also regularly ranked in the most prestigious European lawyer’s ranking editions (The Legal 500, Chambers and Partners, etc). As a matter of principle, our professionals strive to help our clients and partners to find the best practical solution to any legal challenges lying ahead from a business perspective, as well as to understand and realise their projects in the best way possible. Continue reading “Sponsored briefing: Interview: Mr Nikolay Cvetanov – managing partner, Penkov, Markov & Partners”

Sponsored focus: Penkov, Markov & Partners

Sponsored focus: Penkov, Markov & Partners

Iztok Dstr., 13B, Tintyava Str., Floor 6, 1113 Sofia, Bulgaria

T: +359 (0) 2 971 39 35 | E: lawyers@penkov-markov.eu | W: www.penkov-markov.eu/en

Practice areas: Commercial and company law; state regulations; tax law; real estate; banking, finance and capital markets; litigation and arbitration; IT, media and telecoms; energy and environment; personal data protection; patents and trade marks

Firm profile

Established in 1990, Penkov, Markov & Partners is one of the first law firms in Bulgaria, having nowadays the biggest and most significant client portfolios and being respected both domestically and internationally.

The firm currently has approximately 40 partners and associated members, several external legal consultants, 12 trainees, 12 assistants and staff members. The firm publishes its own newspaper PMP Legal News, circulation 2,200 (published in Bulgarian, English and German languages) which is also available on its website.

Since 1996 PM&P is the exclusive member firm for the jurisdiction of Bulgaria of Lex Mundi – the world’s leading association of independent law firms. PM&P is a member of Lex Mundi and FLI Net and is the first law firm in Bulgaria certified under the ISO 9001:2000 and later re-certified under ISO 9001:2008 and ISO 9001:2015 standards by Bureau Veritas Certification.

For their professionalism the experts from PM&P are frequently engaged not only in legal advice and procedural representation but also in the legislative process (eg, the Commercial Register Act and the New Renewable Energy Sources Act, as well as competition regulations).

In 2019 PM&P was awarded Superbrand of the Year for a fourth time (2007, 2015, 2017) as recognition for exceptional reputation of the trade mark Penkov, Markov & Partners among its current and potential clients, partners and investors.

The team


Vladimir Penkov, chairman and senior partner (vladimir.penkov@penkov-markov.eu)
Mr Penkov has extensive experience in negotiations, research, drafting of legal documents and representation of clients in various areas of commercial law, such as banking and finance, corporate law and commercial contracts, competition, privatisation and foreign investments, investment management, M&A, project finance, public procurement, licensing and know-how agreements, tax law, telecoms, media and IT, energy law and renewable energy sources.


Ivan Markov, partner (ivan.markov@penkov-markov.eu)
Mr Markov has longstanding practical expertise in legal searches, elaboration of legal instruments and representation of clients in different areas of business law such as company law, commercial agreements, banking and finance law, regulatory permissions, insurance law, M&A, concessions, project finance and the securities related thereto.


Nikolay Cvetanov, managing partner (nikolay.cvetanov@penkov-markov.eu)
Mr Cvetanov has significant experience in research, drafting legal documents and representation of clients in the fields of commercial law and banking and finance law, litigation, corporate law, commercial contracts, financial projects and tax law.


Milena Gaidarska, partner (milena.gaidarska@penkov-markov.eu)
Mrs Gaidarska has longstanding practical expertise in legal searches, elaboration of legal instruments and representation of clients in different areas of business law such as: real estate transactions, development and construction, commercialisation of retail, residential and office space, financing and securitisation of real estate projects, M&A, public procurement.


Roman Stoyanov, partner (roman.stoyanov@penkov-markov.eu)
Mr Stoyanov disposes with long-term practical experience in research, preparation of legal documents and representation of clients in different spheres of business law, such as administrative law, commercial and corporate law, pharmaceutical law, customs law, litigation and arbitration, and M&A.

At a glance: Penkov, Markov & Partners

Headcount: 50+ lawyers

Offices: Sofia, Bourgas, Varna, Pleven, Rousse, Stara Zafora

Key clients: ARTEKS Engineering Group; Booking.com; Cable Internet Systems; Coca-Cola; EMCO; EBRD; Heineken; Klett Bulgaria; InnoPharma International BG; Markan Holding

Sponsored briefing: Q&A with LEX Law Offices managing partner Örn Gunnarsson

Sponsored briefing: Q&A with LEX Law Offices managing partner Örn Gunnarsson

How would you describe the Nordic legal market generally regarding the last 12 months?

I am only able to speak for the Icelandic market, but over the last 12 months, the only significant change we have experienced is related to the more flexible working environment implemented because of restrictions put in place because of Covid-19. Business has been good although because of the restrictions we experienced delays in dispute resolution cases, but that has been offset by an increase in M&A activity.

What would you say has been the primary impact of the pandemic on the market?

Iceland was probably the country that felt the least impact of the pandemic. From time to time though limitations on the number of people in the workplace were put in force which resulted in the implementation of a flexible working environment supporting employees to work from home. Although the technology was already in place, the pandemic ensured that video conferences and meetings became the name of the game and every employee in the industry optimised those sources to keep the business running without interruption. On the business side Iceland, as with most other countries, has experienced increased M&A activity. In many cases the pandemic caused certain industries to struggle or particular firms, which has led to frantic exploration to increase efficiency. In many cases downsizing and restructuring has been the way forward while in other instances a merger has been deemed the best option. M&A activity has therefore been at an all-time high for the latter period of the pandemic.

How was 2020 and early 2021 for the firm? Would you say it was a successful year? If so, why? If not, why?

The year 2020 and the first half of 2021 have been successful. Turnover has increased marginally, but a lot of costs have been saved and significant gains have been made through alternative billing methods, which promoted efficiency for the benefit of all stakeholders, the firm, the client and the employee.

Have you noticed any noticeable new trends for the firm in the last 12 months? Have any practice areas increased/decreased in prominence?

As stated, before there has been a remarkable uplift in the M&A sector. Other sectors on the rise are the IT sector, although it has probably more to do with increased start-up activity than the pandemic. We do not see any notable downturn in any sector, but as stated before litigation has slowed during the pandemic, but in our opinion that has more to do with Covid restrictions than a poorer inflow of assignments.

What does all of this mean for the future of independent firms in your country? What elements separate out the firms that are ‘thriving’ and those that are not?

All major law firms in Iceland are independent. The big accounting firms have been increasing their presence, but only in limited sectors. Iceland has not experienced the threat of international law firms. The outlook for independent law is therefore positive.

The question of why some firms are thriving and some not is always difficult to answer. In our opinion at LEX Law Offices, the most important element of legal industry is to really understand the needs of the clients. Why is he asking for advice and how can we, the lawyers, deliver as much value as possible as efficiently as possible. If one loses sight of that he is subject to become dispensable.

Are there any particular mandates that you have handled since the pandemic began that have been particularly noteworthy or have ‘bucked the trend’?

LEX was mandated by international investors to advise on the acquisition of the passive telecoms infrastructure of two of the major telecoms companies in Iceland. This has led to other owners of passive telecoms infrastructure exploring opportunities of disposal and it seems that it has created a lot of attention from both domestic and international investors.

Has anything unexpected (particularly positive) come from the pandemic? What do you envisage will be the long-term impact/changes?

Overall, from the company perspective the pandemic has not caused as many problems as one would have expected. The pandemic has tested the resolve of the employees and the management to figure out new ways of processing and delivering advice to our clients. Not unexpectedly, the whole of the firm has walked hand in hand to figure out and implement new methods. This whole process has led to more and better communication between management and employees and in general a better working environment.

Although never neglected I suspect the long-term impact will be on a better working environment and increased efficiency in processing end delivery of service.

For more information, please contact:


Örn Gunnarsson, managing partner, LEX Law Offices
E: orn@lex.is

www.lex.is/en

Sponsored firm focus: Focus on LEX Law Offices

Sponsored firm focus: Focus on LEX Law Offices

Borgartún 26, 105 Reykjavík, Iceland | T: +354 590 2600 | E: lex@lex.is | W: www.lex.is/en

Practice areas: Banking, finance and capital markets; competition law; constitution and human rights; construction, public procurement and tendering law; corporate and commercial law; corporate finance and project finance; data protection and information technology; employment and labour law; energy, natural resources and environmental law; European law; insolvency, bankruptcy and financial restructuring; insurance and tort; intellectual property and technology transactions; litigation, arbitration and dispute resolution; mergers and acquisition; property law; public administration, public parties and urban planning; real estate; shipping, transportation and maritime law; telecommunication law

Firm profile

Tracing its roots back to 1959, LEX is one of the leading full-service law firms in Iceland. Based on a traditional legal practice of litigation, real estate law, bankruptcy law and corporate and commercial law, LEX has been a pioneer in the Icelandic legal environment when it comes to innovation based on new market trends. LEX’s intellectual property practice is second to none, offering its clients full service in that sector. Furthermore, LEX is at the forefront in the space of IT and technology transactions, which has become a trivial component in its advisory across different practice areas. Our team has deep industry experience in various sectors, making it possible to provide practical advice and innovative solutions.

In an ever-changing landscape, foreseeability about project development and project expenses has become a major factor in the operation of any law firm. For years LEX has applied a project management approach in most of its practice areas with great success. All lawyers at the firm have received training in project management and with collaboration with universities, further steps have been taken with certain practice areas, in order to maximise efficiency and implement new processes.

This project management effort has awarded LEX with increased efficiency for the benefit of all stakeholders, the firm, its clients and employees.

Furthermore, it has allowed LEX to introduce alternative billing mechanism in a more focused way than before which has been taken by open arms by its clients.

Team profile

The M&A team at LEX consists of 12 experts on the subject. The strength of the team does not only derive from the experts within the M&A sector but its capability to draw on other expertise within the firm. In the last few years, the team has been working very notably along with the IP, IT and the technology transactions teams at the firm. In today’s world the IP and technology sectors play an ever-important role and being able to draw on the expertise of top-ranked partners within those practice areas has considerably strengthened LEX’s position in this competitive market. Core areas include complex technology transactions, strategic licensing, e-commerce, cloud computing, IP development, outsourcing and open source.

LEX has been blessed in being at the advisory table in most of the largest cross-border transactions that have taken place in this field over the last few years.

L-R: Erla S Árnadóttir, Eyvindur Sólnes, Fanney Frímannsdóttir, Garðar Víðir Gunnarsson, Guðmundur Ingvi Sigurðsson, Lára Herborg Ólafsdóttir, Ólafur Haraldsson, Stefán Orri Ólafsson, Örn Gunnarsson

At a glance: LEX Law Offices

Headcount: partners 18, assistants 4, associates 16, paralegals 4

Offices: Reykjavík (Iceland), Selfoss (Iceland)

Key clients: Arion Bank hf.; Sjóvá-Almennt tryggingar hf.; Síldarvinnslan hf.; Sjávarsýn ehf.; Samskip hf.; Reykjavík Energy; Mjólkursamsalan hf.; Olíuverslun Íslands hf.; Iceland Seafood International hf.; Toyota Iceland

Sponsored briefing: Q&A with Eversheds Sutherland El Heni

Sponsored briefing: Q&A with Eversheds Sutherland El Heni

Can you give our readers an overview of Eversheds Sutherland El Heni Law Firm’s legal practice in Tunisia?

We have five main legal practices in our law firm:

  • Corporate/ M&A: One of the strongest team in the Tunisian market (an average of 20 deals per year) mainly focusing on international investments or very high-profile projects in Tunisia.
  • Business law including IP/IT, labour, civil, commercial and contract: The team is fully dedicated to foreign clients who use, fully or partially depending on their internal legal team, our legal outsourcing service enabling them to focus efforts on their core business.
  • Infrastructure, energy, transport: The work is mostly centred around renewable energy, customs and real estate.
  • Banking and finance: The team is used to assisting the biggest DFIs in Tunisia such as IFC, EBRD, and AFD. In addition, we have a strong insurance activity including the main ones in the Tunisian market (Maghrebia Assurance, Star Assurance, Biat Assurance), and act in project finance.
  • Dispute resolution: We offer market-leading pre-contentious, and contentious assistance with day-to-day complex matters. We play a key role in shaping the law and adapting it to the needs of our international clients. For instance, our multilingual team is able to report in French, English and Arabic. We also manage and lead high-profile arbitration.

What do you see as the main points that rank Eversheds Sutherland El Heni Law Firm as a leading firm in the Tunisian legal business market?

We operate under international standards, which means that we respect our deadlines, we have a sophisticated billing system, and our flexible team is always available to respond to a client in need. Furthermore, we are a full-service law firm, so we are able to assist our clients in every aspect of their projects. Our large law firm of 20 (in comparison to the Tunisian market) and its organisation in several practice areas, enable us to work on several projects simultaneously and different aspects of the same projects at the same time. Finally, being part of a global network of 70 Eversheds Sutherland international offices across 36 countries, we can offer our international clients, multi-jurisdictional advice across the five continents.

Given the problems created by the Covid-19 pandemic, how did you successfully manage your firm?

Our first two goals were the safety of the team and establishing a strong internal organisation in order to maintain a high quality of deliverables. When the above conditions have been filled, it allowed us to nurture our clients and to fully support them by focusing on their needs. As an example, during the first phase of the pandemic, we sent weekly newsletters informing the clients of the measures taken by the government, as it was constantly changing, making it easier for them to take decisions.

Which sectors are/will be of most interest to foreign investors, and why?

From our knowledge and experience, the promising sectors for investments are the new technology, renewable energy, healthcare and diversified industries.

We are currently drafting the digital and telecoms legislation, as well as assisting many successful startups, and we’ve noticed that new tech is still new but very attractive for foreign investors as regulations are moving towards a more digitalised economy.

As far as the renewable energy sector goes, Tunisia has a good positioning and significant projects are currently ongoing. On the other hand, the healthcare and diversified industry sectors are still stable for the moment despite the current situation, but they should be expanding soon.

Are there any main changes which you have personally made within the firm that will benefit clients?

As a business-oriented law firm, we recognise our clients’ needs and risks. We understand urgent matters may arise at any time in a business, especially during a global pandemic, so we took the decision to organise the team in total flexibility. This way, our team is available at any time, which was truly appreciated and very beneficial to our clients. In addition, we put significant financial efforts into supporting our clients economically, which means that we accept to postpone payment deadlines, split/reduce our fees etc.

What is the main added value of Eversheds Sutherland El Heni as a corporate law firm in Tunisia?

We are able to offer our clients the high-level of service and thoroughness that our international clients are used to receiving in mature markets (US, EU, Middle East) adapted to the Tunisian market.

For more information, please contact:


Fares Koussay El Heni
Deputy head Africa (Paris) and managing partner (Tunis)

T: + 216 71 116 720 (Paris)
F: + 216 98 337 117 (Paris)

T: + 33 1 55 73 41 08 (Tunisia)
F: + 33 6 68 20 65 33 (Tunisia)

E: fareselheni@eversheds-sutherland.com

Israel focus: Land of milk and honey

Israel focus: Land of milk and honey

Few, if any, national economies escaped 2020 with a clean bill of health, and Israel was no exception. As per the Central Bureau of Statistics, the country’s economy contracted by 2.4% across the year, the most severe decline since the state was established in 1948. It is a testament to the unprecedented nature of the past year that Israel’s performance can be considered a relative success story – the average across the OECD countries was a 5.5% decline.

Though economically speaking Israel has fared comparatively well, more generally the region’s handling of the Covid-19 pandemic is a mixed story. When the first wave of the pandemic hit, Israel was still being overseen by a caretaker government following the inconclusive result of the legislative election in March 2020. A state of emergency was declared and legally enforceable restrictions were introduced, preventing citizens from leaving their homes except for a short list of specified reasons. To ease the economic strain, the government introduced a $22bn economic rescue package to bolster the healthcare system, assist the unemployed and support struggling businesses. These restrictions proved largely effective and by the end of May most restrictions had been lifted, allowing most Israelis to enjoy a relatively free early summer. Continue reading “Israel focus: Land of milk and honey”