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The firms of the SEE Legal network are reporting that they worked alongside Skadden Arps in advising BA Glass I – Servicos de Gestao e Investimentos S.A. (the parent company of BA Vidro S.A.) on its acquisition of substantially all of the Yioula Glassworks SA glass container business from Yioula Glassworks SA and its subsidiary Yalos Holdings (Overseas) Limited. Yioula Glassworks was supported on all legal issues by Winston & Strawn.

Ince & Co has advised longstanding client GasLog Ltd., an international owner, operator, and manager of liquefied natural gas (LNG) carriers, on a sale and purchase agreement to acquire a 20% shareholding in Gastrade S.A. A.S. Papadimitriou in Athens provided Greek law advice to GasLog, and Norton Rose Fulbright advised Gastrade.

Potamitis Vekris has advised the Hellenic Republic Asset Develoment Fund on the EUR 400 million sale of the Astir Palace hotel complex in Athens by it and the National Bank of Greece to Apollo Investment ΗoldCo, a subsidiary of Jermyn Street Real Estate Fund IV LP. The National Bank of Greece was advised by the Alexiou-Kosmopoulos Law Firm, while M&P Bernitsas advised Apollo Investment HoldCo.

Since the onset of the Greek sovereign debt crisis and in the midst of non-stop negotiations with the European Commission, the European Central Bank, and the IMF, Greece has been instructed to apply tight fiscal consolidation measures and implement a series of structural reforms to improve its competitiveness and boost its growth in return for desperately needed financial assistance and securitization of its bail out.

"Non-performing loans (NPLs) in Greece are of tremendous size," says Stathis Potamitis, the Managing Partner of Potamitis Vekris in Athens. "Perhaps up to 120 billion euros are tied up in NPLs — maybe as much as 50% of the total loan portfolio, with another 70 to 80 million euros due to the state." These assets are generating significant international interest, of course, and many funds are coming to Greece to explore the possibility of investing. As a result, the Greek government is working to create a manageable and attractive legislative and regulatory environment for their transfer.

In The Corner Office, we invite Managing Partners at law firms from across the region to share information about the strategies they employ to keep their teams motivated, effective, and focused. For this issue, we asked them to reveal what sorts of firm retreats and activities they host and/or organize for their lawyers.

In “The Buzz” we interview experts on the legal industry living and working in Central and Eastern Europe to find out what’s happening in the region and what legislative/professional/cultural trends and developments they’re following closely. Because the interviews are carried out and published on the CEE Legal Matters website on a rolling basis, we’ve marked the dates on which the interviews were originally published.

The critical value of Intellectual Property Rights (“IPR”) to the global economy has been much discussed and analyzed in a series of published EU and national economic studies and reports, quantifying both the contribution of IPR-intensive industries to economic performance and trade and the significant economic impact of counterfeiting. Corporate and government budgets, allocation of human and other resources, integrity of public administration, investments, and criminal activities are all affected by the unauthorized use of IPR, which includes trademarks, patent, copyright, and designs.

Drakopoulos and the React anti-counterfeiting network, working in cooperation with the Greek police, are reporting a seizure of 25,000 fake clothing items in a warehouse in an Athenian suburb on April 26, 2016, and describing it as "marking the symbolic character of the World Intellectual Property Day."

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Greek Knowledge Partner

Drakopoulos Law Firm has been providing consulting and legal advice to businesses since 1992. The Firm possesses extensive resources and know-how to cover a wide range of services and handle substantial and complex transactions. Our highly skilled lawyers provide professional services and legal expertise, highly prioritising the interests of both our domestic and international clientele and being dedicated to their successful operation. With an offering of legal services across 11 countries out of three main offices, Drakopoulos Law Firm is strategically positioned to serve clients with presence or interests in the entire Southeast Europe region.

Firm's website: www.drakopoulos-law.com

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