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“Things are pretty steady,” says Drakopoulos Senior Partner Panagiotis Drakopoulos, speaking about the current political climate of Greece. “The past few months have seen no major changes or updates, so there is nothing special to report on.” He says that, as most efforts have been focused on the pandemic, little room is left for anything else. 

White & Case and Zepos & Yannopoulos have advised the EIF and the EBRD on a EUR 130 million securitization of automotive leases originated by Olympic Commercial and Tourist Enterprises S.A., a car leasing company in Greece and master franchisee of the Avis Budget Group. Avis was advised by Norton Rose Fulbright and, reportedly, Kyriakides Georgopoulos, while Hogan Lovells and, reportedly, M&P Bernitsas, advised lead manager and sole arranger Citi and co-lead manager Piraeus Bank.

The novel coronavirus has sent markets into a tailspin and forced the scrapping of many plans for this business year. Commercial law firms, their businesses closely tied to the way economies ebb and flow, have been forced to adapt. This global phenomenon is in some ways particularly poignant in Greece, which was finally, after a decade of darkness, showing signs of returning to the light. Commercial Greek law firms, excited about the prospects of a highly-anticipated economic recovery, have discovered they’ll have to wait just a little bit longer. Still, they insist, good times are just around the corner.

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