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DLA Piper has advised Kerzner International Holdings Limited, an international developer and operator of ultra-luxury resorts and residences, on its joint venture with private equity firm Dolphin Capital Partners and Dolphin Capital Investors for the development and management of the One&Only Kea Island, Greece, a luxury tourism project on the Cycladic island of Kea. Local input was provided by AP Legal in Greece and L Papaphilippou & Co LLC in Cyprus.

The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures. 

In The Corner Office, we invite Senior and Managing Partners at law firms from across the region to share information about their careers, management styles, and strategies. For this issue, we asked them to describe their least favorite part of their jobs. 

Things seem to be picking up a bit in Greece, according to Drakopoulos Managing Partner Panagiotis Drakopoulos — but he knows better than to relax. "I’m much more hopeful than I was last year,” he says, “but you have to adapt to the environment. You can only hear so many times that 'now things are changing.’ We’ve heard this for three or four years, but things don’t, in fact, change. The same thing happened in 2014 — things picked up a lot, and then the crisis hit again.” He sighs. “We definitely have more work than last year, but I don’t see a clear path to the light at the end of the tunnel, so it’s hard to be too confident about how things will develop.” 

Zepos & Yannopoulos, working alongside Shearman Sterling, has acted as Greek legal counsel to Attica Bank SA, a Greek medium size bank, on the securitization of non-performing loans and future receivables from the EUR 1.3 billion sale of real estate. The portfolio was sold to a Luxembourg SPV against issuance of EUR 525 million senior notes and EUR 806.2 million junior notes. All the notes were initially subscribed by Attica Bank, which will also act as interim servicer of the portfolio.

A.S. Papadimitriou & Partners has acted as local counsel to EXIN Financial Services Holding B.V. on its EUR 718 million acquisition of a 75% stake in insurer Ethniki Hellenic General Insurance S.A. from the National Bank of Greece. Bernitsas Law and Freshfields advised the NBG on the transaction, which remains subject to customary approvals.

Kyriakides Georgopoulos has advised the National Bank of Greece on a Public Private Partnership project for the development, design, financing, construction, and operation of a solid waste treatment plant at Serres, in Northern Greece, awarded to the consortium of Archirodon Group NV, Intrakat Constructions S.A., and Envitec S.A. The consortium was advised by Bernitsas.

Prior to building up or transplanting their advertising campaigns in Greece, businesses wishing to acquire a share in the local media market, besides familiarizing themselves with their industry sector through review and analysis of the industry economics, participants, and main competitors, should immerse themselves into the regulatory framework for advertising that will enable them to develop their business plan and marketing strategies most efficiently.