26September2017

Banking, Finance and Capital Markets - Practice Highlights

I. What the market says about us

  • “‘Totally reliable and very responsive. Working with them is a real pleasure.’” (IFLR 1000, 2014)
  • “Paraskevas Law Firm’s ‘excellent’ practice is popular with international law firms and has ‘an excellent relationship with all the key international financial institutions operating in Athens.’ Dimitris Paraskevas is ‘a responsive and “out-of-the-box” thinker’, who provides ‘pragmatic and commercially minded advice.’” (Legal 500, 2014)
  • “This firm has long been a robust presence in the market, winning acclaim for its efficient, thorough and well-prepared service. The team also has excellent working relationships with several leading international law firms.” (Chambers Europe, 2013)
  • “Paraskevas Law Firm ‘provides a level of commercially minded, user-friendly service comparable with that of the leading international law firms.’” (Legal 500, 2012)
  • Elias Paraskevas represents a solid presence in the banking market.” (IFLR 1000, 2012)
  • “Overseas clients laud it as ‘a first-rate firm with international expertise, which is not often the case in Greece.’” (Chambers and Partners Global, 2011)
  • “This firm sets the bar high,’ say interviewees, who also laud its ‘reliable, timely service.’” (Chambers Europe, 2011)
  • “Respected for its domestic and cross-border expertise in banking, credit and capital markets, the team includes the ‘utterly professional and prompt’ Dimitris Paraskevas.” “This group is widely recognised for its impressive corporate and banking strength.” (Chambers Europe, 2010)
  • “This firm is ‘impressively responsive’ and ‘knows the banks inside-out.’” (Chambers Europe, 2009)

II. Our practice

Our Banking, Finance & Capital Markets practice is one of the leading in the country. We have advised many of the world’s leading financial institutions, often in the largest or first-in-its-kind transaction in our jurisdiction. In a time marked by a steep decline in the local banking sector, we have been busy advising on finance and refinance transactions as well as helping clients navigate through the regulatory straits of Greek debt and equity markets.

III. Indicative recent experience

  • Advising key institutional investors on the over EUR 200 bn Greek PSI;
  • Advising one of the largest US investment management companies on its participations in two out of the four Greek systemic banks, the latest one connected with an over EUR 2.8 bn capital increase, approximately half of which was covered by the relevant consortium; ongoing assistance to this yearlong client has focussed on all aspects of reporting requirements and investment restrictions in the local market;
  • Acting for one of the top 10 shipping groups worldwide in the context of the biggest money laundering case in Greece involving the group’s restructuring, working together with local counsel in several jurisdictions; focus was on an  array of German and Greek banking regulatory issues (including matters relative to the intervention by the German financial services regulator);
  • Acting as Greek law experts to a European Government in litigation before the country’s supreme court related to the recapitalisation of its banking sector;
  • Advising for three consecutive years the European leader in risk financing, with respect to the deployment of structural funds in Greece amounting to EUR 250 mn by means of facility agreements with many of the top local credit institutions;
  • Advising a major local player in the fossil fuel sector on a EUR 65 mn bond loan issuance in the context of restructuring of a portfolio of loans given by almost all locally operating banks;
  • Acting as local counsel to the German office of a US law firm on a EUR 55 mn term facility agreement for the refinancing of a major household hardware German group by a top German investment bank, performing work on behalf of the arranger, a leading Austrian bank;
  • Advising a major German clearing house on an extensive array of matters (including complex regulatory, conflict-of-laws and insolvency issues) in connection with the application of specific clearing models to the offering of clearing services to Greek and non-Greek clearing members;
  • Advising one of the leading European clearing houses in connection with an overhaul in the complex proxy voting system employed for the purposes of voting intermediary held securities of Greek listed corporations;
  • Advising a pioneering SEC-registered alternative investment manager, through the London office of a leading US law firm, with regard to marketing its funds in Greece;
  • Advising a US-based Fortune 100 investment fund manager on reporting requirements with regard to holdings in one of the four Greek systemic banks;
  • Advising the creditor of the Greek branch of a Cypriot bank in connection with the resolution measures adopted both in Greece and in Cyprus following the bank’s collapse;
  • Advising one of the leading Swiss banks in connection with the provision of custody services to a Greek investment firm;
  • Advising an Asian government owned wealth fund, one of the leading sovereign funds in the world, with regard to the local framework on insider trading and the treatment of Chinese walls in such context by the local regulator;
  • Advising a leading aircraft manufacturer in connection with the lease financing for the sale of a new aircraft and the registration of the aircraft and security locally;
  • Advising on an ongoing basis leading US investment banks with regard to securities held through intermediaries, including repos and securities lending, collateral holding arrangements and perfection requirements, enforceability in insolvency, conflict of laws and recharacterisation risks;
  • Advising on an ongoing basis a major European fund management company, affiliated with one of the largest Swiss banks, on all aspects of distributing fund units in the local market;
  • Advising a US investment bank together with a UK magic circle law firm in relation to claims brought against it before the UK courts by a local credit institution seeking damages on, among other things, Greek law causes of action in connection with derivatives transactions;
  • Advising a leading global insurance company with respect to the potential impact of the local legislative framework governing an array of sectors (including insurance, data privacy, consumer protection) on the implementation of FATCA rules;
  • Advising one of the top 10 insurance brokerage groups worldwide with regard to local law requirements in the context of provision of insurance mediation services, as well as a global insurance and reinsurance services provider with regard to non-admitted local provision of insurance and reinsurance services.

Other notable recent experience includes:

  • Acting as local counsel to a UK magic circle law firm advising a leading US investment and advisory firm as note holder of a major telecommunications company in the context of one of Europe’s biggest debt restructurings (EUR 3.2 bn);
  • Acting as local counsel to a magic circle law firm advising two leading financial institutions (based in the US and Switzerland respectively) as mandated lead arrangers in connection with a USD 1.3 bn loan to various borrowers;
  • Representing a leading UK bank with respect to the offering of notes in the context of securitisation of a portfolio of commercial mortgage loans, in a transaction valued at EUR 1.2 bn;
  • Acting as local counsel to a major US law firm advising a consortium of a leading US investment bank and a major German bank as mandated lead arrangers of a senior revolving credit facility and a bond issue amounting to EUR 265 mn;
  • Advising a US brokerage and trading service provider, together with the leading high-yield bond US law firm, on its proposal to the Greek government with regard to the refinancing of the Greek sovereign debt;
  • Acting as local counsel to a leading US law firm advising one of the leading US investment banks on aspects pertaining to the establishment of a worldwide prime brokerage infrastructure;
  • Advising a major investment fund on the likely consequences of a Greek sovereign debt restructuring, especially as regards the triggering of CDS and the likely ramifications of a Euro exit;
  •  Advising two major Swiss banks on matters pertaining to client identity disclosure, the local treatment of omnibus accounts and trust structures, as well as on the tax treatment of Greek government debt and of Swiss savings income of Greek tax residents and fund repatriation.

 



The only Greek Law Firm ever listed in the Financial Times Law 50 Report

Banking & Finance, Corporate/Commercial, Restructuring/Insolvency Leading Firm 2013 (Chambers Europe)

Mergers & Acquisitions Law Firm of the Year 2013 (ACQ Global Awards) 

Labour & Employment Law Firm of the Year 2012 (Global Law Experts)