Greece

Reviews

Practice area

IFLR1000 Reviews

Overview

Solicitors governing body: Local bar aassociations

Competition authority: The Hellenic Competition Commission

Financial regulator: Bank of Greece

IFLR1000 ranking categories for this jurisdiction: 

Banking, Capital markets, M&A, Project development

Jurisdiction overview

Greece is a civil law jurisdiction backed by the country’s constitution, the latest version of which was adopted in 1974. The technical origins of the system can be found in the city states of ancient Greece.

Foreign law firms can open an office in Greece relatively freely. There are few restrictions and as long as registration is achieved firms can operate under their own name, hire Greek lawyers and practice local law. There is also no requirement for Greek qualified lawyers to have Greek citizenship.

The country’s economic woes have impacted the legal profession directly in that as part of the economic reforms agreed as part of the country’s financial bailout agreement, some previous restrictive measure have been abolished. Most notably the rule that lawyers could only practice within the geographical area of the local bar to which they were registered was abolished in 2011.

Despite the relative ease of setting up an office, few foreign law firms have made the step, even before the economic issues that have troubled the country since 2008. The majority of those firms that have tend to be focused on the country’s thriving shipping industry. Norton Rose Fulbright, Reed Smith and Watson Farley & Williams are the most prominent foreign law firms present in the country at present.

Lawyers often act across a range of practice areas, but within the financial and corporate areas tend to focus either on finance matters or capital markets and corporate deals.

IFLR1000 2019: Greece market trends and developments

Financial and corporate
Alexiou-Kosmopoulos Law Firm

Alexiou-Kosmopoulos Law Firm is a strong banking firm and is often mandated by leading Greek banks and financial institutions on corporate and project finance transactions. 

The firm’s work on syndicated finance and acquisition finance is highly regarded, and it advises clients across refinancing mandates too. It is also very active in the real estate sector, advising lenders on the development financing of resorts, hotels and residential buildings. 

The firm also has NPL experience, working for loan servicers and international funds on a mix restructuring and acquisition mandates, and advises banks on capital markets deals, often as arrangers and bookrunners on bond issues. 

Recent M&A work has largely related to the privatisation of Greek companies that own national infrastructure.

The firm's project work often sees it advise foreign and local funds, corporations and state bodies on joint ventures for motorway projects.

Recent Deal Data highlights

•Hellinikon Project

•IKOS Aria €83.7 million financing

•OLTH €231.9 million privatisation

•Pangea REIC €190 million financing

•Sani €295 million financing

Bahas Gramatidis & Partners

Bahas Gramatidis & Associates is notable for its work in asset finance.

In banking and finance the firm is often active on asset finance transactions advising investment banks and aircraft operators on leasing and aircraft sale transactions under Greek law. 

In capital markets during the research period the firm advised a Chinese solar technology company on its potential IPO in the Shanghai Stock Exchange.

In M&A the firm advised a Greek railway company on the privatisation of the state's train maintenance company.

Recent Deal Data highlights

•ROSCO privatisation

Bernitsas Law

Bernitsas Law is among the strongest firms in Greece with across all practice area.

Its banking and finance practice has recently focussed on loan transactions and NPL mandates and secured borrower and lender side work on syndicated loans, acquisition finance and project finance deals. The firm also advises corporations and international and local banks on bond loan transactions. It has worked on several NPL mandates advising NPL servicers, acquirers and sellers. It has also advised the servicing platform, investors and noteholders on securitisations of loan portfolios. 

In capital markets work the firm acts for issuers bond issues, securitisations and listing in stock exchanges. 

The firm's M&A team advises a mix of publicly listed companies, funds and private corporations on a mix of domestic and cross border acquisitions, sales and mergers. During the research period the firm advised private equity firms on acquisitions in the healthcare sector and acted for a state-owned fund on a privatisation mandate. 

In the projects space the firm is very active in the oil and gas and transport sectors, advising on a mix of development, financing and procurement. It advises a mix of international financial institutions, project developers and joint ventures on some of the most notable projects in the region. 

During the research period projects lawyer Yannis Kourniotis left the firm.

Recent Deal Data highlights

•Alexandroupolis LNG Project

•APS Holding €2.38 billion acquisition financing

•CVC Capital Partners acquisition of Ygeia 

•IGB gas pipeline

•Project Jupiter - Apollo Global Management €337.1 million acquisition of Alpha Bank NPL portfolio

Client feedback

"Absolutely outstanding for the Greek market. Very professional in providing the services and very responsive with a wide range of expertise in the legal field." – Banking 

"Very good overall - quick turn of the documents and very good knowledge of the regulatory framework." – Banking

"Very high quality work under challenging deadlines." – Capital markets: equity

"I was very impressed with their work. They were very responsive and provided detailed comments on the documentation and the legal issues. There was a high level of partner involvement. I would definitely use them again." – Capital markets: structured finance and securitisation

"Very knowledgeable and reputable in the local market." – Capital markets: structured finance and securitisation

"Bernitsas are very responsive and knowledgeable about the areas of insurance regulation in Greece." – M&A

"As always, excellent service and quality of advice. Very responsive to our requests, thoughtful and commercial in their response." – M&A

"The collaboration with Bernitsas law firm was excellent. Their staff is well experienced and qualified. They focus on the business needs of the clients and they productively consult them. They also have the ability to overcome and resolve any difficulties that an acquisition entails without abating client's interests." – M&A

"High quality advice within strict deadlines. Client oriented, well organized with expert lawyers on several areas and reasonable rates." – M&A

"Deep knowledge, committed, value for money, hardworking and able to meet deadlines." – Project development

"Law firm with an excellent track record and experience in concession projects in Greece. Good knowledge of the legal framework together with the political context & local stakeholders." – Project finance

"Business oriented, accurate on time and concise." – Project finance

"Very competent and attentive; high quality commercial and pragmatic advice." – Project finance

"Very experience with the legal framework of concession projects and public works in Greece." – Restructuring and insolvency

Athanasia Tsene

"A powerhouse of knowledge and experience."

"She is great. She has a working knowledge of the relevant regulations and provides very practical advice. A pleasure to interact with and very responsive." 

"Athanasia did an excellent job on our securitisation transaction."  

"Very good cooperation overall. Clear and definitive opinions, experienced and well structured."

Dimitris Roussis

"Meticulous, knowledgeable, available, punctual, polite and nice to work with."  

Dionysis Flambouras

"Excellent. Strengths include legal skills, availability, responsiveness and service to the client."

"Very knowledgeable, spends time with their client and keep following up until the accomplishment of the project."

Evi Kitsou

"Evi is extremely responsive and explains points in a clear and concise manner. We were very happy with the assistance provided by Evi and Lambros."

Fotodotis Malamas

"Quality legal advice combining legal and finance expertise."

Lambros Belessis

"Mr Belessis was of great help for us for the whole period of the acquisition, and he was also responsible for the Bernitsas team. He is a very highly skilled professional, experienced, trustworthy and focused on the result. His contribution for the finalization of the deal was high." 

Nikos Papachristopoulos

"Nikos is an outstanding corporate/M&A lawyer. He is very personable and technically excellent."

"Excellent professional, with sound judgment, commercial acumen and attention to detail. Very responsive and pleasant to work with."

"Very high level of work, extremely efficient turnaround of deliverables and very experienced in providing solid advice."

Yannis Seiradakis

"Good knowledge and experienced in motorway concession project. Yannis is a good technical/legal support during negotiation."

"Excellent lawyer – responsive, business oriented and deep legal knowledge."

"Excellent technical and commercial lawyer."

Dracopoulos & Vassalakis

Dracopoulos & Vassalakis is a strong corporate firm with reputation for advising on privatisation mandates, acting for the state as seller.

The firm has a notable debt capital markets practice and advised two commercial Greek banks on covered bond issues – a rarity since the Greek debt crisis – during the research period. It is also experienced in the NPL related work, having advised a loan servicer on a portfolio securitisation. 

In M&A the firm typically advises Greek state funds and private companies on selling to foreign entities. On the buy side, the firm recently advised American on acquisitions of Greek companies.

During the research period the firm formed a strategic alliance with local Greek law firm Your Legal Partners.

Recent Deal Data highlights

•Alpha Bank €500 million 2.75% covered bond issue

•Hellenic Republic Asset Development Fund privatisation of 30% stake in Athens International Airport

•Hellenic Republic Asset Development Fund Privatisation of Alimos Marina

•National Bank of Greece €750 million 2.9% covered bond issue

•Piraeus Bank €500 million covered bond issue

Client feedback

"Responsive and deep knowledge of the legal framework." – Capital markets: debt

"Dracopoulos & Vassalakis provided excellent work. They were fast and efficient and they were able to solve any problem that appeared during the due diligence. Furthermore, they were always available to discuss our concerns and queries." – Capital markets: structured finance and securitisation  

"We are extremely satisfied with their work due to their expertise in securitization and covered bonds and their professionalism and efficiency in delivering demanding projects. It has acted for the banks on some landmark transactions in the country. The deep knowledge and easy availability of their team is greatly appreciated." – Capital markets: structured finance and securitisation  

"Excellent work. Very professional and extremely knowledgeable firm adding a lot of value to our Venture Capital firm." – Investment funds

"Very good overall cooperation with solid and prompt responses to our legal issues/questions." – M&A

George Vassalakis

"Excellent knowledge of our company, industry and always available for us. Never had any problems with keeping up with new regulations and laws."

Georgia Afrati

"Mrs Afrati was excellent at her work. She was always available when needed and provided us with solutions to our every problems."

Irene Anyfanti

"Very hardworking lawyer with an excellent attention to details and very focused on problem solving. Highly appreciate her input in our dealings."

Irene Stefanopoulou

"Highly experienced professional, very aware of business in addition to legal issues and going the extra mile to provide support."

Yiannis Palassakis

"Mr Yiannis Palassakis has been our legal partner for almost 10 years. He has deep knowledge of our bank, industry and the country. He is very approachable, effective and efficient in delivering all kinds of demanding projects. We feel that we can always count on him and his team. Furthermore, Mr. Palassakis takes great consideration of the financial situation happening in the country in the past few years and we always feel great value for money in the service and work he's provided to us."

"Responsive and deep Knowledge of the legal framework."

Dryllerakis & Associates

Dryllerakis & Associates is a full service firm with expertise across the board.

In banking and finance work the firm mostly acts on the borrower side advising domestic and international hospitality and real estate corporates, and investment firms on a mix of acquisition finance, refinancing and restructuring mandates. It also represents Greek banks on financing transactions. 

Recent capital markets work has included issuer side roles on bond issues and loan securitisation transactions. 

M&A is the firm's strongest practices of the areas covered by the IFLR1000. The firm work on local and cross border deals and on some involving distressed or state-owned assets. It has advised international investment funds, private equities, publicly listed companies and private corporations from various sectors including gaming, real estate, oil and gas among others.

In the project space the firm is active on energy and infrastructure projects, advising project developers and tender bidders.

Recent Deal Data highlights

•Aegean Airline €200 million 3.6% bond issue

•OPAP Group €95 million acquisition of Stoiximan

•Thessaloniki Port Authority €230 million privatisation

•Lampsa Hellenic Hotels €80 million refinancing

Client feedback

"High level of professionalism, quick response times, excellent knowledge of legal issues and ability to provide effective solutions in difficult and complex legal matters." – M&A

"Excellent analysis of complex legal issues, very good response time, positive input at negotiations with the airports concessionaire, reasonable hourly rates and very good value for money." – M&A

"Integrity and professionalism." – M&A

Cleomenis Yannikas

"Cleomenis has excellent legal knowledge and an ability to resolve complex legal matters. He is very well organised and able to effectively handle the workload."

Emmanuel Dryllerakis

"Emmanuel is an excellent lawyer, with a very good knowledge of corporate law issues. He is very practical and able to provide and implement innovative solutions to complex legal matters."

Georgia Danatsopoulou

"There are no material weaknesses."

John Dryllerakis

"John is a phenomenal lawyer. A very experienced practitioner combining his in-depth knowledge in almost all aspects of commercial and tax law with a unique business acumen."  

Karatzas & Partners

Karatzas & partners is one of strongest firms across all transactional work practice areas in Greece and is known for its cross border work.

The firm’s banking and finance practice has varied experience and is a strong offering. During the research period it picked up several NPL deals, advising international funds and servicing platforms on acquisitions and securitisations of NPLs. It also acted as lender’s counsel to international banks and financial institutions on cross border financings. 

Its capital markets offering has focused on bond issues for domestic banks recently. It is generally counsel to the state on its sovereign bond issues. 

Securitisation is one of the firm's core strengths, and during the research period it advised on the first non-bank originator ABS transaction in Greece. 

In M&A the firm has been active across several sectors recently and in general advises Greek entities and private equity funds on transactions in Greece and Cyprus. 

In the projects space the firm is strong in the renewable energy sector and advises banks on the project financing mandates. It is also active in the infrastructure sector where it is acts for project developers on large regional projects.

Recent Deal Data highlights

•Athens International Airport €665.6 million bond loan

•Autohellas €101 million auto lease asset backed securitisation

•B2 Holding acquisition of Alpha Bank under-performing and non-performing portfolio

•Hellenic Republic €5 billion dual tranche sovereign bond issue

•Trans Adriatic Pipeline

KLC Law Firm

KLC Law Firm is a full service firm active in banking and finance, M&A and projects. 

In the banking and finance space it advises a mix of international and large local banks on regulatory and transactional mandates. Active for both lenders and borrowers, it acts across a range of work including fund, project and acquisition financing, and debt restructuring. During the research period it provided due diligence support to large international funds on the acquisition of NPL portfolios by local systemic banks. 

The firm has notable M&A expertise and is legal counsel to HRADF on privatisation of Hellenic Petroleum and other upcoming projects. It has also represented potential investors on privatisation mandates. 

In projects space the firm advises local banks on project financing of renewable energy plants. In Greece the firm advises governing bodies on international tenders for infrastructure. It also has experience working for sponsors on PPP projects. 

Recent Deal Data highlights

•Hellenic Petroleum 50.1% stake privatisation

•Hellenic Republic Asset Development Fund privatisation of 10 regional ports

•IGI Poseidon gas pipeline

•North Heaven Private Equity Asia acquisition of majority stake in Korres

Client feedback

"Very responsive lawyers, excellent drafting including in English language and knowledge on a variety of legal matters." – Banking 

"Outstanding cooperation in terms of availability, initiative, speed of delivery and quality of deliverables." – Banking 

"Direct, to the point customer care and high quality consultancy services." – Banking 

"Excellent work. Thorough legal analysis of critical issues, providing the client with solutions and detailed risk assessment to overcome legal obstacles leading to a successful outcome within very tight timeframes." – Capital markets: equity

"Highly satisfied. Very responsive, meticulous in reviewing documents, very good support and trustworthy during negotiations and flexible in overall cooperation." – Investment funds

"Great partner to work with. Problem solvers, mediation mentality, very good with timelines, dedicated project managers and excellent knowledge of legal framework." – M&A

"Very responsive, very professional, concise, understands our needs and provides tailor made advices." – M&A

"The firm offers a significantly high level of service in terms of response time, business acumen/industry knowledge, appropriateness of advice, strength-in-depth of team and value for money. Its depth and breadth of its knowledge ensures that the firm is able to support every client's business needs successfully and provide high quality, innovative legal solutions in the increasingly complex area of legislation and practice." – M&A

"KLC has been very efficient in its services. It possesses a team of well-qualified professionals with expertise covering various aspects of law, which is of great significance in complex transactions. The team members have shown remarkable capacity to understand the client's needs and provide creative solutions, always responding timely and effectively to the requests for service. They have also shown very good negotiation skills and high perception in identifying the key issues for each party involved in the transaction." – M&A

"During our cooperation, the team was led by Alexandros Tsirigos, who is very capable in Greek energy M&A transactions. Alex was able to draw on his experience from past transactions and provide concise and practical advice. I am very impressed with his services." – M&A

"Complete understanding of the particularities of the case and the client's needs and quick responses." Project finance

"Very diligent and professional team. Ability to understand the various stakeholders' objectives and translate them into legal action." – Restructuring and insolvency

Alexandros Tsirigos

"Very responsive, thorough and concise providing tailor made solutions addressing our needs."  

"A very capable and experienced M&A lawyer."

Aristides Chiotellis

"Excellent problem solving."

"He is an excellent legal advisor with numerous strengths and qualities such as correct judgement, analytical skills, creativity, perseverance and commitment."

Panagiotis Tzioumas

"Diligent, very responsive, flexible in meetings and negotiations, proposing innovative solutions during meetings and very good attitude towards counterpart."

"Demonstrates outstanding dedication to the work assigned to the law firm. Maintains a valuable balance between ensuring high quality legal work and achievement of business objectives."

"Panagiotis provided us with great counsel for our various business entities undergoing restructuring, as we determined the legal impacts of our strategic directions. We were especially pleased with how accessible he was when we had any questions. He provides a great value for businesses looking for legal advice with a profound knowledge of banking & insolvency regulatory framework."

"Sharp legal knowledge with in-depth business understanding providing solutions for very complex problems and simultaneously mitigating any risk. Excellent client relationship management."

Theodore Loukopoulos

"Very knowledgeable professional, always respondent and eager to find a solution. Manages his team very well and provides support in any occasion, even after working hours."

"Theo is a great attorney and a great manager of people. His goal to act as a business partner in order to help the most makes him quite effective. Apart from his legal expertise, he has a consulting charisma, a strategic mind as well as excellent communications skills."

Vassilis Karagiannis

"Qualified, experienced and good understanding of the client's needs."

Xenofon Papayiannis

"Xenofon is very efficient in his work with significant expertise in complex transactions. He is very good at understanding the client's needs and providing creative solutions, always responding timely and effectively to the requests for legal advice. He also has very good negotiation skills and high perception in identifying the key issues for each party involved."

Koutalidis

Koutalidis has strong reputation across all practice areas and often advises on large, notable transactions in the market.

The firm's banking and finance reputation stems from its work for systemic banks on large financing, bond loan and debt restructuring mandates. It also advises banks on large NPL portfolio sales. 

In M&A the firm often advises on large transactions that include the privatisation of Greek assets, with experience on both the sell and buy side. It also advises Greek subsidiaries of leading international corporations on acquisitions of Greek companies. 

In the projects space the firm is active on both financing and development mandates advising a mix of international sponsors, local banks, domestic project developer and concessionaires in social infrastructure projects.  

During the research period the firm hired senior counsel Martha Pylioti from National Bank of Greece to join the banking and finance team. In 2019, the firm had an internal restructuring following the departure of the head of banking Nikos Salakas to join Alpha Bank.

Recent Deal Data highlights

•Athens International Airport €665.6 million bond loan

•Deutsche Telekom €284 million acquisition of 5% stake in Hellenic Telecommunications Organization

•Golden Hall €91.3 million refinancing

•Hellinikon Project

•Hellenic Republic Asset Development Fund €535 million privatisation of DESFA

Kyriakides Georgopoulos

Kyriakides Georgopoulos is strong across the board but it is notable for its work in the project development area.

The banking and finance team acts on complex transactions for both institutional lenders and corporate borrowers. Acquisition financing via bond issues, refinancings, project financings, syndicated loans and debt restructurings fall within the teams experience. 

In M&A the firm has varied sector experience. Active for both international and domestic client,s the firm advises on a range of local and high value global deals. Its M&A expertise also extends to publicly-listed companies and has acted on mergers, takeovers and buyouts. 

On major infrastructure projects the firm advises on EPC, concession agreements, PPPs, exploration contracts and licensing. Recently it has advised a mix of international and domestic concessionaires, project developers, operators and sponsors on oil and gas interconnector and renewable energy power plants. It also advises on privatisation mandates for both buyers and sellers. 

During the research period the firm hired counsel Victoria Mertikopoulou from Hellenic Competition Commission to join the M&A team. Project finance lawyer Stamatis Kotsiras joined the firm as counsel from Eurobank.

Recent Deal Data highlights

•BASF €7.6 billion acquisition of Bayer's assets

•Black Sea Trade and Development Bank €1 billion EMTN update

•EuroAsia 1000MW electricity interconnector

•INGS Greece-North Macedonia gas interconnector

•Senfluga Energy Infrastructure Holding €357 million acquisition financing

Client feedback

"KG is able to provide concise business-oriented legal advice. It is very swift in responding and provides top quality deliverables." – Banking 

"We were overall satisfied with the service provided and the times of delivery of the requested services. The law firm has expertise on banking, corporate financing and operations and provided relevant advice and guidance." – Banking 

"Very good law firm overall. All associates seem to be of high quality." – Banking

"Very supportive and deep knowledge of the sector and the Greek market." – Capital markets: debt

"Overall we are very satisfied." – Capital markets: equity

"Clear and comprehensive guidance with timely turnaround and associated Greek translation services. Would highly recommend." – Capital markets: equity

"The overall assessment is very positive since the proactive approach and the experience of the law firm resulted in the conclusion of the delisting process in an orderly and timely fashion with minimal costs." – Capital markets: equity

"Very good knowledge of Greek stock exchange and banking regulations. They also provided challenging international opinions in Great Britain and The Netherlands. Excellent attitude, commitment, quality/accuracy of work, communication skills and punctual." – Capital markets: structured finance and securitisation

"Very professional approach. Looking at the bigger picture while also taking care of the minor details." – M&A

"Great responsiveness, attention to detail, concise advice and broad range of expertise." – M&A 

"Professionalism, customer centricity and business focus." – M&A

"Very high quality work and professional team. Always available and responsive. Knowledgeable and highly credible local partner." – M&A

"Great experience. Very knowledgeable, very responsive, and great value for money." – Project development

"Very good cooperation. Immediate reaction and involved team with knowledge of the specific practice areas." – Project development

"Broad range of expertise covering all relevant areas and proactive matter management." – Project finance

"Strengths include responsive to our needs, knowledge on the subject matter, commercial approach to legal issues, able to pressure the opposing lawyers to timely agreements and implementation of the transactions." – Project finance

"Excellent co-operation, high level of respect for confidentiality rules and code of lawyers and results oriented." – Restructuring and insolvency

Elisabeth Eleftheriades

"Proactive, diplomatic and always a pleasure to work with."

Evangelia Dimitropoulou

"She is a fantastic corporate lawyer, who is very supportive with a deep knowledge of the sector and the market."

Gus Papamichalopoulos

"Deep knowledge and great client service."

"Deep knowledge of the sector and very good communication."

Irene Kyriakides

"Very responsive, attentive to detail, concise advice, pragmatic and practical and involves relevant expertise where needed swiftly."

Konstantinos Vouterako

"Excellent co-worker, professional, deep knowledge of the client's business needs and problem solver." 

"Mr. Vouterakos performance was excellent, showing exceptional professionalism, effectiveness and high ethical standards."

"Open to take care of our matters himself or sending us to the colleagues in the best position to help us."

Theodore Rakintzis

"Very solid support with responsiveness and flexibility."

"Very Satisfied with Theodore's quick and diligent responsiveness."

"Excellent grasp of latest developments in legislation and knowledge of market trends, offering solutions to problems before they even arise."

"Excellent understanding of any subject on which we have worked together. Innovative solutions, quality, accuracy of deliverables and on time. Creates and develops people below him. Very good communication skills. No weaknesses"

"Theodore is always very responsive. Extremely professional, knowledgeable, willing to listen and work around the clock to provide solutions. He is a safe pair of hands and a very strong corporate lawyer."

Zaphirenia Theodoraki

"Junior lawyer who, although joined in the middle of the transaction, managed to catch up, undertake serious responsibilities and assist with the project. Very good communication skills, willingness to assist and follow instructions."

Evangelia Dimitropoulou and Gus Papamichalopoulos

"Very highly skilled lawyers with excellent respect of business rules and excellent degree of responses."

Lambadarios Law Firm

Lambadarios Law firm is strong across the board especially in M&A. 

In recent banking and finance work the firm advises international financial institutions on providing financing to Greek corporates making acquisitions. It is also active in the real estate sector where it advises Greek systemic banks on development financing. It notably acted on the first real-estate owned (REO) sale transaction involving a Greek systemic bank. 

In the projects space the firm advises a mix of lenders and project developers on the financing of PPP, renewable and road infrastructure projects. 

Its M&A expertise covers both buy and sell side advisory work for private and publicly listed companies across range of sectors. Leading international corporations and funds often mandate the firm as Greek counsel on inbound investments. In privatisation mandates the firm has acted for state owned companies on sale transactions. It also acts as Greek law counsel on large global transactions and is very active in deals involving the acquisition of Greek listed companies. 

During the research period the firm hired project finance lawyer Yannis Kourniotis from KKLegal.

Recent Deal Data highlights

•Brooklane Capital €95 million acquisition of Alpha Bank office portfolio

•CVC capital partners €30 million acquisition financing

•DEPA €150 million acquisition of Attiki Natural Gas Distribution Company

•El Swewedy €55 million acquisition of windfarm portfolio

•Greek Motorway electronic tolling system

Client feedback

"Highly skilled and supportive on negotiations. Fully operative in a very short time, giving the impression that they are part of the corporation. Very prompt in a tight timeframe and always on our side." – Capital markets: equity

"Good knowledge, quick to respond and good team work." – M&A

"Very helpful personnel dedicated to its clients. Always willing to go the extra mile to respond to our queries." – M&A

"Lambadarios is an exceptional firm which is extremely client focused and goes the extra mile. In the past I felt that they were bit top-heavy, but in the last year they have built up the junior support as well." – M&A

"High quality level of service, proactive client interface and high level of advice." – Project development

"Lambadarios Law Firm shows extreme professionalism and dedication to the client, finding optimized solutions to our problems." – Project development

"Excellent leadership of diverse legal team with practical advice and ability to complete complex analyses quickly and effectively." – Project development

"The practice is exercised with strict professionalism, consistency and effectiveness." – Project development

"Very efficient and concise. They are good value for money." – Project development

"Excellent throughout, business acumen and solutions focused." – Project development

"Highly professional, very responsive, client focused and good knowledge of the task in hand. Excellent value for money." – Project finance

"They acted in a highly professional manner, being very responsive, accurate and diligent in the delivery of the services required. They even exceeded their scope of work in certain aspects, by taking the initiative and thinking ahead of the client's need and requests." – Project finance 

"Responsive, attentive, business acumen and focused on details when needed but without losing focus." – Project finance

"Strong and deep knowledge of the energy and financial market" – Project finance

Constantinos Lambadarios

"Very focused on understanding our business and has an excellent commercial perspective. He is solution oriented and is an integral part of the Hines team in Greece." 

"Focused, problem solver and diplomatic."

"Very good commercial approach in understanding the client's needs and appointing the most suitable person in delivering the most suitable solution. Excellent communication skills."

George Panopoulos

"Hard working, to the point and excellent negotiator."

"Very professional, accurate in the advice provided, hardworking, meeting the client's needs with high standards and in depth knowledge of the legal framework necessary for the industry."

"Highly professional with prompt responsiveness and anticipating the client's needs, providing timely and accurate advice."

"Mr. Panopoulos is an excellent partner. He has a firm knowledge on all law aspects especially B2B contracts and joint ventures in the energy sector. He finds optimized solutions and his support always protects our company's interests."

"Deep and most effective knowledge of the energy sector."

"Friendly, straight to the point, solution oriented and worked well under pressure."

"Very fast, efficient and excellent knowledge of the energy sector."

Melina Katsimi

"Good knowledge of the industry, keen to listen and implement feedback and quick to respond."

Prokopis Dimitriadis

"Prokopis is extremely knowledgeable and can dive into detail without losing the bigger picture. He can successfully filter the noise and focus in on the real issues. He is extremely efficient and balances the needs of multiple projects running at the same time."

"Highly equipped in banking and finance advisory, very responsive and high standards of drafting skills."

Yannis Kourniotis

"Very experienced and creative, proactive interaction, hardworking and always available."

"Excellent work and commitment to delivering on time."  

"Excellent partner to work with. He is efficient and has complete understanding his clients' needs. Excellent legal knowledge and problem solving ability."

George Panopoulos and Prokopis Dimitriadis

"Competent, focused, meticulous, quick to respond and very accommodating." Accommodating."

PotamitisVekris

PotamitisVekris is one of the leading domestic firms in Greece and strong across all practice areas. It has a reputation for work in the alternative investment funds (AIF) space where it was counsel to the first Greek AIF manager. It also advised EOS Capital Partners on the establishment of an AIF focused on investments in the local market. 

In the banking and finance area the firm acts for leading Greek banks and financial institutions on acquisition and project financing, refinancing and debt restructuring. It also has expertise in distressed loan transactions advising investment funds and European banks on acquisitions of large NPL portfolios. 

During the research period the firm's capital markets work included work for publicly listed companies on delisting and public bond issues. 

The firm's M&A on both domestic and cross border transactions. With  both buy and sell side work, its recent high value transactions include work for state funds on privatisation mandates and global transactions in the pharmaceutical sector. 

In the projects space the firm is strong in project financing mandates and has advised systemic banks as lenders in PPPs, wind farms and gas interconnector projects.

Recent Deal Data highlights

•Aegean Airline €200 million 3.6% bond issue

•Athens International Airport

•China Energy Group acquisition of 75% stake in Copelouzos’ wind farms 

•EuroAsia 1000MW electricity interconnector

•Motor Oil Hellas €33.5 million acquisition of Alpha TV, Alpha Radio and Alpha Kronos

Client feedback

"Always to the point with the ability to provide solutions and deliver on tight deadlines." – Banking

"We had a very efficient and productive cooperation. The lawyers had very good negotiating skills and deep knowledge of the market." – Capital markets: debt

"Consistently outstanding service with exceptional attention to detail and an unusually creative and commercial approach. We consider PotamitisVekris as one of our very best global structuring and advisory counsels." – Capital markets: debt

"Overall all aspects of acquisition activities requested at local level were met successfully." – M&A

"Very good professional team and timely response." – M&A

"The firm has the ability to serve any legal issues given its diverse expertise. It is extremely prompt in its service, very innovative and solutions oriented." – M&A

"They have enforced practices in which they were not strong. Regarding M&A and corporate they are considered tier 1 which it has proved through the deals they are involved in - almost all the deal this last year. They are very powerful and well connected with the banking sector. They are very innovative and fast and close to the clients." – M&A

"Since 2018, PotamatisVekris in Greece has given us excellent legal representation and legal advisement for the proper implementation of European Commission Regulations and best practices." – Project development

"Very Good, professional and knowledge of the industry practices." – Project finance  

"Excellent due diligence, excellent understanding of commercial issues and appropriate treatment in documentation. Excellent support in negotiation of finance terms and commercial issues with the client." – Project finance

Euripides Ioannou

"Provided us with excellent counselling and advisement with full knowledge of the country and sector matters."

"Excellent – Professional and very good knowledge of the industry." 

"Very competent, dealing with professionalism and diligence in all issues."

"Euripides and his team have a deep knowledge of Greek public and company law, and they were key to the success of the transaction."

"Euripides is an all-around exceptional, forward-thinking, thorough, and creative lawyer. We have repeatedly entrusted him with some of our most complex issues and have been consistently impressed with his advice and the solutions. His legal expertise, commercial acumen and commitment to client service are exemplary."

"Euripides and his team are excellent. They communicate well in English; they are excellent lawyers and understand the energy industry well. This last point is rare among local counsel in any country."

George Bersis

"The level of knowledge of local capital markets in combination with the familiarity with UK law practises along with the business perspective (something unusual for most lawyers) make George Bersis quite unique for local standards. His deal expertise is also quite long & wide, which is also one of his & his law firm's strengths."

"Very efficient, knowledgeable and strong negotiation skills."

Stathis Potamitis

"Can only say he is the best."

Theologos Mintzas

"Excellent character and professional."

Alexandros Kortesis and Stathis Potamitis

"They are both extremely professional."

Tsibanoulis & Partners

Tsibanoulis & partners has been active in the market for over 20 years and has built up strength in regulatory work across all practice areas. It is especially active advising banks and investment firms on Greek law.

In banking and finance the firm advises both domestic and foreign banks on regulatory matters in relation to newer directives and compliance with existing Greek laws. During the research period it advised the government on the establishment of Greece's development bank.

In capital markets, aside from regulatory work, the firm was also engaged by a Greek cooperative bank to provide due diligence support and legal advice on corporate governance issues in relation to its capital increase.

In M&A the firm has acted for a mix of buyers and sellers recentlty, providing due diligence support and drafting share purchase agreements in sectors including banking, fintech and insurance. It is typically active on the sale of Greek entities to foreign investors.

In the projects space the firm was active in the tender for concession contracts and extension of concession in the transport infrastructure sector. In the concession tender, the firm advised foreign state-owned investment group, while the firm acted for domestic entity on the latter mandate.

Recent Deal Data highlights

•Cooperative Bank of Epirus €12 million capital increase

•Pancretan Cooperative Bank €13 million capital increase

Client feedback

"The firm is expert in cooperative banking legal framework in Greece. The main strength is the immediate response to queries by all members and especially by the main partner Mr. Dimitris Tsibanoulis." – Banking 

"Our overall assessment of the law firm's work is excellent." – Banking 

"Efficient and very professional in their work, good communication with the customer and deep knowledge of the banking and payment services sector." – Banking 

"We view Tsibanoulis & Partners as a very professional and reliable partner. Their key strengths include the seriousness with which they approach every subject and the commitment and dedication to us as their client." – Banking 

"Very professional and good response time." – Banking 

"Excellent and timely work with very strong business acumen." – Banking 

"Comprehensive Analysis and hands on approach." – Banking 

"Tsibanoulis & Partners' industry knowledge and breadth of legal expertise is a valuable asset for rendering high quality legal services, as well as business oriented and creative solutions. The team has continuously delivered analytical and concise answers to our questions, been highly responsive and efficient in the course of our cooperation." – Banking 

"Strengths: fast, accurate and experienced." – Banking 

"The firm offers a significantly high level of service in terms of response time, business acumen/industry knowledge, appropriateness of advice, team depth and value for money." – Banking 

"Superb. Very responsive, very quick to offer advice to provide successful outcomes." – Banking 

"They completed the task professionally through analysis of the case, proposal of appropriate mitigation measures and existence of qualified staff answering questions." – Banking 

"Always up to date with new financial regulations and is willing to proactively highlight changes that are needed." – Banking 

"Very highly skilled lawyers who cooperated closely with the In-house legal department and delivered a very complex report under tight deadlines." – Banking 

 "The cooperation with this particular law firm is very satisfactory and it gave me the guarantee to trust its work and results." – Banking 

Aristeidis Goulandris

"Excellent, very responsive and very knowledgeable."

Dimitris Tsibanoulis

"Apart from being a very capable and professional legal counsel, Mr. Tsibanoulis enjoys the respect and approval of many market participants and institutional bodies in Greece and in Frankfurt."

"Outstanding, always provides in-depth and all around analysis while proposing thoughtful solutions every time." 

"Excellent expert and pleasure to cooperate with."

"The firm's managing partner, Dr. Dimitris Tsibanoulis, is highly knowledgeable and extremely professional in his approach to working with us. His demonstrated work ethics, excellent communication skills and effective project management were invaluable in the course of our cooperation."

"He is an excellent legal advisor with numerous of strengths and qualities such as correct judgement, analytical skills, creativity, perseverance and commitment."

"Mr. Tsibanoulis is a very experienced lawyer with perfect communication skills. He tries to understand the case, the surrounding environment and the business logic behind one or another decision. These are the key factors for the high quality of his work."

"An excellent lawyer with knowledge of the subject and highly cooperative."

Emmanouil Komis

"Emmanouil Komis is an exceptional lawyer who understands his subject very well and who has always catered to all our needs professionally."

Sofia Kizantidi

"Very professional and very good response time." 

"Immediate response, knowledge and accuracy." 

"Able to recognize and identify core issues and solutions. Team Player. Can efficiently adjust to company's needs."

Dimitris Tsibanoulis and Emmanouil Komis

"They are excellent."

Dimitris Tsibanoulis and Marina Perraki

"Both of them are excellent professionals with a deep knowledge of their sector. They have excellent communication skills and work with their customers' best interest in mind."

Aristeidis Goulandris, Anna Apostolaki and Dimitris Tsibanoulis

"Excellent cooperation, highly skilled lawyers with many years of experience and results oriented."

Your Legal Partners

The year 2018 was a busy one for Your Legal Partners. The firm celebrated its tenth anniversary and formed a strategic alliance with Dracopoulos & Vassalakis, boosting its commercial and corporate services. 

Your Legal Partners is very active in the project finance area and often advises Greek bank on the financing of wind and photovoltaic power plants. It recently also worked alongside its strategic partner to advise a real estate investment firm on the acquisition of non-performing secured loans from a Greek bank. 

In M&A the firm has recently advised a mix of buyers or sellers – local and international corporations, private equity firms and real estate developers – on the sale or acquisition of Greek entities across sectors including real estate and energy. It also has experience in local mergers and joint ventures.

Recent Deal Data highlights

•Alimos Marina concession

•Dimand / EBRD joint venture

•Eurobank / Grivalia merger

•Evergolf Tourist Investments €93.5 million acquisition of 70% in Golf Residences

•Hellenic Republic Asset Development Fund privatisation of 30% stake in Athens International Airport

Client feedback

"Overall an excellent, commercially focused and responsive firm." – Banking 

"Excellent support and intimate knowledge of the business, coupled with a commercial and practical approach." – Banking

"Business-oriented, prompt, team spirit, good knowledge of the issues arising and reliable." – M&A

"Strong legal support on the tender process. A solid contribution to the team of advisors to the fund throughout the process. Excellent team players." – Project development

"Valuable insight and consultation, time efficient and results yielding course of action." – Restructuring and insolvency

Katerina Christodoulou

"Mrs. Christodoulou has been fast and accurate and with a high sense of ownership of the issues she is called to advise on."

"Very knowledgeable and experienced partner who has maintained client relationship extremely well. Has a deep understanding of our business and consistently delivers excellent practical and commercial advice across all areas of our business in Greece."

"Very helpful and immediate response."  

"Clear-cut thinking, excellent knowledge and valuable advice."

"An excellent client relationship partner, who leads and manages the team dealing with Ford Credit exceptionally well. She has a very solid knowledge of the law, an intimate knowledge of our business and highly experienced in business practice in Greece."

Zepos & Yannopoulos

Zepos & Yannopoulos is a full service firm that focuses on providing local law advice for foreign investors. Strong across the board, the firm is known for its strength in structured finance.

The firm's banking and finance and capital markets practices have developed a reputation for NPL work. Advisors to Greek systemic banks and international investors the firm has acted on several high value NPL portfolio sales and acquisitions. 

The firm’s NPL work extends to securitisations, where has advised sellers and investors on innovative transactions. The firm also advises international investors and originators on more standard loan securitisations. 

During the research period other capital markets work saw firm provide issuer-side counsel on the establishment of an EMTN programme and a subsequent covered bond issue. 

Its corporate team is active in both private and public M&A. The firm has focus on cross border transactions and often advises international corporations, and investment management and private equity firms on acquisitions in Greece. 

In the projects space the firm advises foreign investors and consortiums on developments of social, road and renewable energy infrastructure. The firm has also advised on concession projects in relation to the privatisation of Greek state assets.

During the research period M&A partner Takis Kakouris left the firm. Counsel Kitty Fragalexi joined the banking and capital markets team from Piraeus Bank.

Recent Deal Data highlights

•Autohellas €101 million auto lease asset backed securitisation

•Bain Capital acquisition of Piraeus Bank €1.45 billion NPE portfolio

•CarVal Investors and Intrum acquisition of NGB €2 billion NPL portfolio

•Eurobank €5 billion ETMN covered bond programme

•Hellinikon Project

Client feedback

"It is rightfully in the top 5 Greek Law firms for similar transactions. Strengths include expertise and the understanding and addressing of business needs and complexities of transactions." – Banking

"Absolutely committed to getting the deal done. Responsive, pragmatic and provides clear and commercial advice." – Banking 

"Very responsive, detail-oriented and organised." – M&A

"Good understanding of the law and good responsiveness." – M&A

"Z&Y's work was outstanding." – M&A

"Excellent legal advice, very deep knowledge of respective field, perfect project management and time and cost effective work." – M&A

"The firm is very responsive, practical and business-minded and easy to work with." – M&A

"Detailed and concise feedback on time." – M&A