Karatzas and Partners Law Firm


Wednesday, 18 December 2019

Karatzas & Partners advises Ellaktor S.A

Karatzas & Partners advised the initial purchasers in connection with the high yield bond offering of €600 million 6,375% senior unsecured notes due 2024 issued by Ellaktor Value PLC, a wholly-owned subsidiary of Ellaktor S.A. It is the biggest high-yield offering for Greece, following the Greek sovereign debt crisis. The gross proceeds of the notes will be used to prepay certain indebtedness of Ellaktor S.A., Aktor Concessions S.A. and AKTOR S.A., to pay related fees and expenses and for general corporate purposes, while an amount equal to the net proceeds from this notes will be allocated to Eligible Green Projects, making it the biggest high yield green-bond offering in Europe for the year 2019.

Our firm shows once again that innovation and excellence are two core values that define its corporate culture. In that context, our firm is the first law firm in Greece to deploy an artificial intelligence platform by Luminance, which assists significantly during the due diligence process. We are always committed to providing our clients with high-quality legal services, by adopting new technology trends and by remaining at the fore-front of Greek legal developments. For more information please visit the following link: https://bit.ly/35oPHfy
Karatzas & Partners is pleased to announce that our firm advised National Bank of Greece with regards to the disposal of the first secured non-performing portfolio of small Business Lending and Small & Medium Enterprises loans with total principal amount of c. €0.9 billion (Project Symbol) to Symbol Investment NPLCO DAC (a company jointly owned by funds managed by Centerbridge Partners, LLP and Elliott Advisors (UK) Limited). The consideration of the transaction is equivalent to c. 28% of the principal amount of the portfolio and is capital accretive to NBG (based on Q3 2019 CET 1 ratio). The disposal was completed on Friday, December 6th. For more information please visit the following link: https://bit.ly/34tbkd8

Karatzas & Partners is proud to announce that it participated as Greek legal expert in the preparation of the EBRD study on the legal framework for the enforcement of creditors' claims in Albania, Croatia, Cyprus, Greece and Ukraine.

More specifically, our team, led by the managing partner Dr. Alexander Metallinos, prepared following the instructions of EBRD and under the coordination of DLA Piper, the Greek part of the relevant report with a view to assessing the overall effectiveness and expediency of the procedures for the satisfaction of creditor claims in our jurisdiction. The report provided inter alia a comprehensive review and analysis of the legal framework governing creditor enforcement (both outside and inside insolvency) in Greece, identified issues and practices which have or might have an adverse effect on the prompt satisfaction of creditors and realization of security and provided legal reform recommendations for ways of improving existing national legislation in order to improve the overall effectiveness and expediency of the procedures for the satisfaction of creditor claims in light of international best practices.

The full report will be presented in a conference in London on Friday, December 6. The aim of the report is to facilitate law reform in an area that is crucial for the efficient operation of the economy.

For more information: http://www.ebrd.com/news/events/d-enforcement-06122019

Karatzas & Partners is the exclusive contributor to The Legal 500 (Legalease): Merger Control 4th Edition Country Comparative Guide- Greek chapter. Anna Manda, Partner, Katerina Stringari, Senior Associate, Marina- Sofia Chronaki, Associate and Angela Boletsi, Associate provide- through a country specific Q&A- an overview to merger control laws and regulations in Greece. The sub-chapter on Greece covers jurisdictional thresholds, the substantive test, process, remedies, penalties, appeals, as well as recent case law in the merger control sector. You may read the chapter by clicking here: KP_Greece_ Merger_Control_(4th edition).pdf
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