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Landslög Law Offices

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Contact: Mr Vidar Ludviksson, LL.M. (Stanford Law School), Supreme Court Attorney, Partner
Number of partners: 13
Number of lawyers: 20
Languages: Danish, English, German, Icelandic, Norwegian, Swedish

Firm Overview:
The origins of Landslög – Law Offices can be traced back to 1971. It has an extremely strong presence in Iceland and is among the largest and most respected firms in Iceland. The firm’s ambition is to provide cutting edge legal services in a boutique fashion while working personally and closely with the clients, placing emphasis on providing its clientele with high level ‘one-stop’ legal services.

Main Areas of Practice:

Banking & Finance
Capital Markets
Mergers & Acquisitions
Data Protection
IT Law – Data Protection
Competition/Antitrust & State Aid
Dispute Resolution - Litigation - Arbitration
Restructuring & Insolvency
Real Estate
Zoning & Planning

Banking, Finance & Capital Markets:

Landslög currently works for all major Icelandic banks:
■ Vidar Ludviksson is currently working for Hagar hf. (Iceland’s largest retail chain and one of Iceland’s largest companies), a listed company, on the prospectus and legal issues in relation to the company’s bond issue in the amount of 8 bn ISK, i.e. around 53 million GBP
■ Advises Kaupthing bank hf. on issues relating to the bank’s winding-up, regarding bankruptcy law, derivatives, set-off and other issues
■ Advises the Financial Supervisory Authority
■ Partner Johannes Karl Sveinsson was outside counsel to Islandsbanki on a regular basis on regulatory measures and litigation strategies
Key Clients: Islandsbanki, Kaupthing Bank, Financial Supervisory Authority

Commercial, Corporate & M&A:
■ Vidar Ludviksson was sole legal advisor to FAST-1 slhf. in the signing of a purchase agreement on the sale to Reginn hf. (a listed company) of two realestate companies with an enterprise value of EUR 185m. The transaction was finalised in September 2018. This is the single largest real-estate transaction in Iceland in 2018. Landslog also handled the vendor’s due diligence review
■ In 2017 Vidar Ludviksson advised Vodafone Iceland (i.e. Fjarskipti hf., listed on the Icelandic Nasdaq stock exchange) on the purchase of telecom, internet, TV and radio broadcasting operations from 365 midlar hf. The largest telecom and broadcasting asset purchase transaction ever in Iceland, with a value of around EUR 69m
■ In April 2017 Vidar Ludviksson advised Hagar hf. (Iceland’s largest retailer, listed on the Icelandic Nasdaq) on the purchase of all shares in the oil company Oliuverzlun Islands hf. The value of the deal is around EUR 133m ■ In 2017 Jona Bjork Helgadottir advised Hagar hf. on the purchase of Lyfja hf., one of Iceland’s largest retailers in pharmaceuticals and beauty care
■ In February 2017 Hordur Helgason advised the Central Bank of Iceland on a deal which furnished Iceland with a new payment settlement system (RTGS system)
Key Clients: Hagar hf. (the largest retailer in Iceland, in groceries, household items and clothing), IPC (Iceland Prime Contractors), SMI ehf., Vodafone, Norvik Group, Lyfja hf., various ministries in Iceland, The National Power Company in Iceland (Landsvirkjun), Bauhaus, HB Grandi and various municipalities in Iceland, including Reykjavik

Dispute Resolution:
■ Hired by HS Orka power company to handle arbitration proceedings before the Arbitration Institute of the Stockholm Chamber of Commerce. The case was ranked among the largest and most complex ever litigated in Iceland
■ UK based insurers hired Vidar Ludviksson to handle claims against them under D&O policies purchased by Landsbanki Íslands hf. These landmark cases are among the largest and most complex in Icelandic civil procedure
■ Grimur Sigurdsson represented Kaupthing’s Winding-Up Committee in more than 30 rescission cases against numerous international financial corporations
■ Johannes Karl Sveinsson was legal counsel in 14 cases decided by the Supreme Court of Iceland in addition to several representations for the Icelandic Government in the EFTA Court (advisory opinions and direct action cases)
■ On behalf of Kaupthing’s Winding-up Committee, Grimur Sigurdsson litigated a rescission case against the Swiss bank UBS, pertaining to a bond buy-back scheme initiated by Kaupthing prior to the 2008 crisis

■ Vidar Ludviksson represents UK based insurers under D&O policies purchased by Landsbanki Islands hf.
■ Advises a large number of entities and individuals on all issues pertaining to insurance and tort

EEA, Competition & State Aid:
■ Advises a number of large corporations, institutions and municipalities in competitionrelated cases: Lyfja, Iceland’s leading pharmaceutical and health shop retailer; Hagar, the largest retailer in Iceland; several municipalities in Iceland; Gámaþjónustan — one of the largest firms in Iceland in waste management; Kortaþjónustan — an Icelandic card acquirer
■ Jona Bjork Helgadottir is a leading competition attorney in Iceland and former board-member of the Icelandic Competition Authority
■ In the M&A deals referred to above, Landslög handled all notifications and communications with the competition authorities
■ Partner Johannes Karl Sveinsson, Chair of the Appeals Committee of Competition Matters, has advised the subsidiaries of Reykjavik Energy and governmental institutes on State Aid matters
■ Represents Gagnaveita Reykjavikur (a telecom company owned by the Reykjavik Power Company) in a state aid case before the EFTA Surveillance Authority
■ Hlynur Halldorsson advises ISAVIA ohf. (a public undertaking operating all air navigation systems and airports in Iceland) on a large scale competition case regarding investigation of the Icelandic Competition Authority into allocation of airport slots at Keflavík International Airport

TMT & IP - Data Protection & IT:
The leading Icelandic law firm on issues relating to processing of personal data and the EU Data Protection Directive. The firm is one of few that specialises in the field of IT related legal issues, IP, telecommunications, software procurement contracts, electronic forensics, etc. Partner Hordur Helgi Helgason, (and Commissioner of the Icelandic Data Protection Authority 2013-14) is one of the leading experts in Iceland on data protection.
Accomplishments Include:
■ Directs to EU General Data Protection Regulation (GDPR) compliance efforts of one of Iceland’s three major banks, one of the largest current GDPR compliance effort undertaken in Iceland
■ Guides many of the country’s largest companies and governmental institutions in ongoing GDPR compliance efforts, including the country’s largest retailer, premier IT services supplier, leading insurance companies, municipalities, the National Registry and the National Hospital
■ Advised the Ministry of Justice on implementation of the new EU data protection regime
■ Assisted foreign client, e.g. by performing privacy reviews, including a review for a major American health sector company
■ Drafted several privacy policies and similar documents for Icelandic companies, in compliance with EU and US privacy requirements
■ The number one leading law firm in Iceland providing advice on compliance with the GDPR, which will enter into force in May 2018
Key Clients: Advania, Iceland Post, Icelandic Data Protection Authority

Real Estate & Construction:
Advises the municipality Nordurthing in relation to the development of heavy industry in the area, including a silicon metal production plant in the Industrial zone of Bakki. The cost for the first phase of the plant is estimated to be close to USD 300m. Production is expected to begin at the end of 2017.

Restructuring & Insolvency:
Specialises in bankruptcy and reconstruction law. After the collapse of the Icelandic financial system in 2008 the Icelandic courts have repeatedly appointed the attorneys to manage many of the largest bankruptcy and reconstruction cases:
■ Legal counsel for Kaupthing in a dispute rising out of Credit Suisse’s claim towards Kaupthing (around EUR 200m)
■ Legal counsel for the Central Bank of Iceland’s Holding Company
■ Receiver of the bankruptcy estate of Milestone ehf., one of Iceland’s largest holding companies