KG Law Firm Participated in a Conference organised by SDEE and the Association of Greek Commercialists

On 30 January 2019, Apostolos Georgantas, Senior Associate at Kyriakides Georgopoulos (KG) Law Firm, spoke at a conference organized by SDEE and the Association of Greek Commercialists, which focused on the new legislation (L.4548/2018) on Sociétés Anonymes. Apostolos’ speech dealt with conflicts of interests arising on the one hand between the company and the members of the Board of Directors and on the other hand between the company and its shareholders. Introductory remarks were made by Senior Partner of KG Law Firm, and Chairman of SDEE, Leonidas Georgopoulos.

KG Law Firm Advised the Consortium of Snam, Enagás and Fluxys

Kyriakides Georgopoulos Law Firm is pleased to announce that it advised the consortium composed by Snam, Enagás and Fluxys on over 10-year non-recourse acquisition financing corresponding to approximately 65% of the enterprise value to fund the acquisition, through Senfluga Energy Infrastructure Holdings, of a 66% stake of the Hellenic Gas Transmission System Operator S.A.

Significant Reform to the Legislative Framework Regulating the Sociétés Anonymes in Greece

Corporate/M&A Partner Claire Pavlou and Senior Associate Theodore Lappas recently contributed an article to the latest edition of Greek Law Digest describing the general provisions on administration, governance and supervision on Sociétés Anonymes (Companies Limited by Shares) in Greece under the new legislative framework of Law 4548/2018. The Law, which repeals almost in its entirety the existing Law 2190/1920 on SAs, came into effect on 1 January 2019. To download the article, please click here.

The Clawback of the ‘New Generation’ Growth Share Criterion and Case Law

The clawback mechanism has been initially established as an emergency measure but as indicated by the Greek case law, it is here to stay. In their article available for download, KG Law Firm talks about the Council of the State ruling on the clawback mechanism and the addition of the growth share criterion.  

Panorama of Shareholders’ Rights under the New Greek Company Law

SEE Legal's Greek member, KG Law Firm, has prepared an overview of shareholders' rights under the new Greek Company Law  - please download the document here.

Recent Greek Tax Highlights

In their December newsletter, KG Law Firm introduces the recent Greek tax highlights: Reduction of Corporate Income Tax rate On 30 November 2018, the Greek Parliament, by virtue of the article 23 of Law 4679/2018, amended the article 58 of the Greek Income Tax Code (Law 4172/2013) with regards to the statutory corporate income tax (“CIT”) rate. Such amendment provides for the gradual reduction of the Greek statutory CIT rate from 29% today to 25% for the fiscal year 2022 onwards. In particular, all legal persons and legal entities, apart from credit institutions (still subject to a 29% CIT…

Drug Distribution: Recent Greek Court Developments

Representative rulings: Single Member Court of Athens 2837/2018 & 6001/2018 The highlights of the recent Greek jurisprudence in relation to drug distribution:Marketing Authorization Holders ("MAH") can freely organize/restructure their distribution network. The nature of medicinal products does not dictate an obligation of the MAH to cooperate with every active wholesaler in the region. The public service obligation entrusted with the MAH and drug wholesalers is considered fulfilled, as long as the market as sufficiently supplied. A drug distribution contract, once terminated, cannot…

Medicinal Cannabis in Greece

The cannabis revolution, worldwide spread, has recently reached Greece, the latter introducing Law 4523/2018 pertaining to the authorization of the cultivation, production and trade of medicinal cannabis in Greece. Nine months upon publication of the said Law in the Governmental Gazette,  first two licenses for growing of medicinal cannabis were granted. The growing investing interest, emanating mainly from Canada and Israel, is expected to amount approximately to EUR 200 million  and has been welcomed by the Greek Government which strives to create a more flexible and attractive entrepreneurial…

Gus J. Papamichalopoulos at the 23rd National Conference "Energy & Development 2018"

Gus J. Papamichalopoulos, Head of KG Law Firm’s Energy Infrastructure team and Deputy Chairman of IENE - Institute of Energy for South-East Europe, acted as a coordinator of the first session "Energy Markets in Transition" at the 23rd National Conference "Energy & Development 2018" on 22 November 2018. For more information, click here.

KG at the 10th Annual Thessaloniki Tax Forum

Panagiotis Pothos, Head of KG Law Firm's Tax Practice, moderated the very interesting panel on “Justice: a powerful institutional obstacle on tax arbitrariness" at the Thessaloniki Tax Forum on 12 November 2018. The event was organised by the American Hellenic Chamber of Commerce.  For more information, click here.  

KG Supported the 3rd SE Europe Hydrocarbons Upstream Workshop

The 3rd SE Europe Hydrocarbons Upstream was the topic of the successful workshop held on 30 – 31 October 2018 by the Institute of Energy for South-East Europe (IENE). The event was attended by professionals and dignitaries from all over the world. For more information, please click here.

Second Call by RAE for RES Tenders

Kyriakides Georgopoulos Law Firm discuss the Second Call by RAE for RES Tenders in their latest Energy newsletter. Three months after the conduct of the first round of the RES Tenders, RAE, by virtue of its draft for the Second Call for Tenders, proposed the terms and conditions for three Competitive Procedures for the submission of proposals by renewable power stations. To read the energy newsletter, please click here.