“While the Greek government has responded well to the COVID-19 crisis, shutting down a lot of social hotspots very early on, there are some areas which remain troubled,“ says Virginia Murray, a Partner at Watson Farley & Williams in Athens. “Tourism is a massive part of the Greek economy and the crisis stands to leave a huge impact, which is a real shame given that Greece has started to turn a corner, economically speaking, particularly since the start of the year."
In The Corner Office feature of CEE Legal Matters we ask Managing Partners at leading law firms across Central and Eastern Europe about their unique roles and responsibilities. In light of current events, the question for this online occurrence of the feature is: "How are you managing your team working remotely during this challenging period?"
White & Case and Zepos & Yannopoulos have advised Centerbridge Partners, L.P. and Elliott Advisors UK Limited on the acquisition of a EUR 900 million portfolio of secured non-performing small business lending and SME loans secured by Greek real estate from the National Bank of Greece. Karatzas & Partners reportedly advised the NBG on the deal.
There's a high level of activity in the Greek energy sector, says Dimitris Assimakis, Partner at Norton Rose Fulbright in Athens. “Renewables are going to be huge in the near future,” he says, “mostly due to the fact that Greek authorities have put forward an ambitious plan to have the share of renewables in the final gross electricity consumption at 60% by 2030.“ According to Assimakis this doubling of the current 29% share will require “a very aggressive investment program – mostly from the private sector.”