ADVEL is the brand new face of Fulltingi Legal Services, and despite being a relative newcomer to the market the firm is working hard to carve itself a niche within it.
"ADVEL is a newish firm....
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ADVEL is the brand new face of Fulltingi Legal Services, and despite being a relative newcomer to the market the firm is working hard to carve itself a niche within it.
"ADVEL is a newish firm. It is still trying to demonstrate its capabilities in this field. It is trying to establish itself and probably will," comments a competitor.
Clients are more than satisfied with the service they are receiving, as one says: "They have their eye on the ball and the advice given is based on in-depth knowledge of the industry and our requirements. We find their employees to have diverse expertise, which complements each other, in providing comprehensive legal services."
The firm is also continuing to grow, with partners Sigurdur Valgeir Gudjonsson and Dora Sif Tynes joining the team this year from Capacent Glacial and Teymi respectively.
A key deal saw the firm advising on one of the largest oil competition cases ever seen in Iceland. They are advising Esso Iceland with regards to a cartel dispute, which also involves two other large oil companies, Skeljungur (Shell) and Olís. This work is still ongoing to date.
In finance, Sigurdur Valgeir Gudjonsson was instructed to act for Reykjaneshafnir, owners and operators of five harbours around Iceland. In this case it wished to refinance the harbour at Reykjanes, a transaction that will be worth €35 million on completion.
The firm also showed its corporate capabilities, advising the controlling and minority shareholders, Kjalar and Benson respectively, in the sale of Iceland Seafood International (ISI) to the Luxembourgian company International Seafood Holdings. ISI is a sales and marketing company with a record dating back to the 1930s, and while the completion figure is being kept confidential it is expected this deal will go through sometime in May 2011.
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