An active and ambitious firm, PotamitisVekris cemented its growing reputation for banking work last year and moved up to tier one.

The firm holds its position in other areas again this year. "PotamitisVekris are doing well. They have a young and dynamic team," comments one competitor, while a client speaks to their legal strength: "The team has a high degree of technical knowledge and ability. They help you to see things from different angles."

Another client values the team's commerciality: "That's what makes them different to others; they take the time to understand the commercial issues and parameters of our actions and activities in order to advise us correctly."
The banking and capital markets teams at the firm have been particularly busy this year acting on a handful of landmark deals.

Leading lawyer George Bersis was active on most of these, advising the National Bank of Greece on a €5 billion MTN update and supplement, as well as closing a deal in July 2010 for leading food production company Vivartia, which needed significant renegotiation and refinancing of its group debt, through spin-offs and sales totalling €900 million.

Bersis was also present on the team that advised the underwriters on the 2011 Piraeus rights issue, a sizeable issuance of €805 million. The underwriters included Barclays, Credit Suisse, Goldman Sachs International and Morgan Stanley, and the rights became available in February 2011.

The team is also acting on some other interesting restructurings as Greek companies try and adapt to face the new circumstances. For example, Stathis Potamitis is acting for legacy engineering company Neorion as to a restructuring of loans for a subsidiary shipbuilding company of theirs. Total liabilities reach the €550 million mark, and it is hoped this work will be completed this year.

PotamitisVekris also maintains a more than serviceable corporate capability too. Its biggest mandate in this area over the last 12 months or so is undoubtedly its advisory role to SunEdison, a solar energy company, which was looking to establish joint ventures with interested Greek parties to develop large photovoltaic parks. These parks are set up to generate solar power using special photovoltaic panels, and the estimated value of this ongoing work is said to be up to and above €1 billion.

Its project finance work also reflects the general market sentiment toward renewable energy, and the firm advised on the €30 million financing for a 9.99MW photovoltaic plant for Selected Volt in March 2011; the plant will become the largest photovoltaic plant in Greece.

Leading lawyers:
George Bersis, Euripides Ioannou, Evangelia Kounenou and Stathis Potamitis

Banking & Finance
The Firm: Clients speak highly of this prominent firm’s banking and finance practice, noting in particular its expertise in capital markets transactions. Giorgos Bersis, who conducts a great deal of the firm’s banking work, is highlighted as a “problem solver who finds the best solutions.” The “extremely knowledgeable” Euripides Ioannou, who exemplifies the firm’s proactive manner, lends considerable support to the team and is highly regarded for his work on energy finance. Stathis Potamitis, a lawyer whose impressive reputation cultivates “international exposure,” is also praised by clients for his accessibility and vast expertise in private equity matters. Clients include Piraeus Bank, Alpha Bank and Bank of Cyprus. The team recently acted on behalf of Vivartia, the largest food company in Greece, on the refinancing and renegotiation of loans worth EUR900 million.

For more information on our Banking, Finance and Capital Markets Practice, please click here.

Competition/European Law
The Firm: Market commentators appreciate the diligent and hard-working approach of this firm’s competition team and particularly highlight its prompt and effective communication. University professor Xenophon Paparrigopoulos regularly represents clients before the Hellenic Competition Commission and impresses interviewees with his intellect and business acumen. Clients include ELTA, ITOCHU and Mitsubishi Heavy Industries. Dakos recently instructed the team on a complaint against its supplier, Brother International. The team also represented Procter & Gamble in the Hellenic Competition Commission’s investigation into the detergents market.

For more information on our EU, Antitrust & Competition Practice, please click here.

Corporate/Commercial
The Firm: This firm enjoys a growing reputation in the market, and is "making all the right moves" to increase its presence even more, observers say. It is particularly recommended for media and energy work. The group recently worked with US law firm Jones Day on an international tender process for the sale of WIND Hellas though a prepackaged reorganisation. It also advised Imperio Argo on its merger with two transport companies. Stathis Potamitis is admired for his broad practice, which includes insolvency and corporate law. George Bersis is equally highly regarded, in particular for capital markets and finance work. Sources praise the “business-minded" Ioannis Vekris for his fine deal-making skills.

For more information on our Corporate and Mergers & Acquisitions Practice, please click here.

Dispute Resolution
The Firm: This "well-organised" team has a “growing and diverse practice,” observe commentators. Areas of expertise include cross-border commercial disputes, administrative law, white-collar crime, IP and employment. The lawyers recently acted for Aegean Motorways on issues arising from a PPP motorway project; other clients include Procter & Gamble, LIDL, Microsoft and Vivartia. Konstantinos Papadiamantis has experience in a broad range of areas, including regulatory disputes and white-collar crime. Ioannis Vekris is a “smart litigator” who is “swift to react and respond.” He has a strong reputation in shipping litigation and arbitration.

For more information on our Dispute Resolution Practice, please click here.

Employment
The Firm: This large and accomplished firm has made an “incredibly dynamic impact on the market” following its recent merger with D. J. Papastavrou and Associates, and it is anticipated that the practice will go from strength to strength. Alexios Papastavrou brings with him an “inspiring track record in handling court cases” and is valued by clients for his “fantastic communication abilities.” He recently represented Athens Metro Operations, defending it against requests for injunctions and lawsuits filed by 285 employees in a case that amounted to a yearly payroll cost of EUR10 million. In addition, the firm drafted the employment law provisions on the restructuring of the Hellenic Railways Group, in which 2,500 employees were transferred to other areas of the public sector. Other clients include Athens International Airport, American Express and RBS.

For more information on our Employment & Social Security Practice, please click here.

Real Estate
The Firm: This dynamic firm continues to impress in the sector, offering a comprehensive service to its clients. Partner Ioannis Vekris enhances his sterling reputation in shipping with strong real estate knowledge and is particularly appreciated for his expertise in property transactions within the tourist industry. The team is currently advising Cintra-ACS and TERNA regarding the construction of two motorways, collectively valued at EUR2.6 billion. Minerva Maritime instructed the group in connection with the EUR20 million purchase of a large property in the Greek islands. Other clients include Aktor Concessions, Eikon Real Estate and the J & P Avax Group.

For more information on our Real Estate Practice, please click here.

Energy
The Firm: Clients appreciate the “strong internal organisation” of this large and experienced outfit. This “sensitive and responsible” firm is renowned for prompt service and, according to clients, “reacts as if it was part of our company.” Euripides Ioannou is regarded as amongst the leading energy experts in Greece and offers concise advice and "remarkable negotiation skills." The team recently advised Enel on all aspects of its renewable investments, covering 127 MW of wind and hydroelectric plants. ITOCHU, the Japanese multinational, instructed the team as regards its participation in photovoltaic projects of 4.5 MW.

For more information on our Energy Practice, please click here.

Shipping
The Firm: Formerly associated with Ernst & Young, this now independent firm is commended for its knowledge of the shipping industry and solution-focused approach. It offers litigation, arbitration and commercial services to clients, many of which are ship management companies such as Primebulk, Oceanbulk Maritime and Euroseas. Ioannis Vekris leads the shipping practice and impresses clients with his broad experience in commercial and litigious work.

For more information on our Shipping Practice, please click here.

Within Banking, finance and capital markets, Potamitisvekris is excellent for capital markets matters, while refinancing and debt restructuring has been a key theme for 2010; it advised Vivartia on the €1bn refinancing of its corporate loans. The team also advised the underwriters on Alapis’ €450m rights offering. George Bersis, Stathis Potamitis and Euripides Ioannou are highly recommended.

For more information on our Banking, Finance and Capital Markets Practice, please click here.

Within Corporate and M&A, Potamitisvekris' Stathis Potamitis and George Bersis acted on the international tender process for the sale of Wind Hellas in 2010. The firm is also active across eastern and southeastern Europe, with Johnny Vekris advising Sarantis on the sale of businesses in Czech Republic and Hungary.

For more information on our Corporate and Mergers & Acquisitions Practice, please click here. 

Within Dispute resolution, Potamitisvekris' clients include financial institutions such as Alpha Finance, state-owned entities such as Hellenic Petroleum, and multinationals including Procter & Gamble and LIDL. Xenophon Paparrigopoulos heads the team, while Konstantinos Papadiamantis has been advising Aegean Motorways on arbitration against the Greek state.

For more information on our Civil & Criminal Litigation and Arbitration Practice, please click here. 

Within EU and competition, Potamitisvekris’ competition team ‘possesses a deep knowledge and provides prompt, precise advice’ to its appreciative multinational clients. It continued to advise longstanding client Procter & Gamble on the GCC’s investigation into the detergents market. Lead partner Xenophon Paparrigopoulos has ‘outstanding academic knowledge’.

For more information on our EU, Antitrust & Competition Practice, please click here. 

Within Employment, Potamitisvekris advanced its employment law profile in 2010, bringing on board the specialist employment law practice of Alexis Papastavrou and DJ Papastavrou & Associates. The practice has picked up a raft of new clients following the move, notably advising Hellenic Railways on drafting employment provisions following the company’s restructuring.

For more information on our Employment Practice, please click here.

Within Energy, Potamitisvekris offers ‘specialist project finance knowledge, prompt responses and a high level of quality across the team’. It has attracted numerous new clients including Piraeus Bank and SunEdison, advising the former on photovoltaic power plant financings. The ‘skilled and experienced’ Euripides Ioannou heads the practice.

For more information on our Energy Practice, please click here.

Within Projects and privatization, Potamitisvekris’ considerable construction and energy sector expertise and ‘precise, timely advice’ means it is a constant fixture on the country’s key infrastructure projects. Led by Euripides Ioannou, the team continued to advise the concessionaires on the construction and maintenance of the Ionian Motorway.

For more information on our Project Finance Practice, please click here.

Within Real estate and construction, Potamitisvekris’ construction expert Euripides Ioannou has been advising on two of Greece’s largest motorway construction projects, while the real estate regulatory expertise of Johnny Vekris has been in high demand among real estate owners.

For more information on our Real Estate Practice, please click here. 

Within Shipping finance, Potamitisvekris’ ‘business-oriented, efficient’ practice ‘knows the maritime industry well and delivers pointed advice’. ‘Top-quality shipping expert’ Johnny Vekris heads the practice, which represents shipowners and managers such as Minerva Marine and Primal Shipmanagement Inc.

Within Shipping litigation, Potamitisvekris’ litigation expertise covers everything from international trade disputes to LMAA arbitrations, thanks to Johnny Vekris and Konstantinos Papadiamantis. In 2010, the practice acted for PL Shipping in a dispute over a shipbuilding contract.

For more information on our Shipping Practice, please click here.

Within TMT, Potamitisvekris’ transactional media practice has been highly active in 2010. It advised Antenna TV on several acquisitions and provides ongoing advice to Pegasus Publications on matters including trade mark registration and disputes over publication rights.

For more information on our IP Practice, please click here. 

Please click here to view PLC’s rankings of PotamitisVekris.