Rokas Law Firm

Senior Partner: Prof. Dr. Ioannis Rokas

Managing Partner: Alkistis Christofilou

Number of partners: 9

Number of lawyers: 67 (Athens Office: 25)

International offices: Greece, Belgrade, Bucharest, Podgorica, Prague, Sarajevo, Skopje, Sofia, Tirana

Firm Overview:

Rokas was established in early 1977 and has developed into one of the largest law and consulting firms in Southeastern Europe, with a presence in ten (9) European jurisdictions. The firm’s expert legal team has a long tradition of participating in the rosters of academic institutions, while it has been accumulating a significant volume of practical expertise in managing complex legal and institutional issues. We mainly focus on regulated markets, concerning the establishment, operation, and regulatory compliance, transformation and M&A transactions, dissolution and winding-up of undertakings and legal entities of all forms, both in the course of their operation and in the framework of liquidation and/or insolvency proceedings. In this framework, we are actively engaged in the ongoing transformation of the insurance market, occurring through the change of insurance and corporate regulation as well as via the concentration of market players through M&As and transactions of all kinds, including the acquisition of fintech. Our services include advice, legal planning and project management, litigation, M&As and privatizations, and participation in law or regulation drafting projects, including EU and World Bank projects. Apart from providing legal advice and support, more than half of the firm’s activity includes court litigation and ADR in a wide range of cases of commercial, civil and and administrative law.

Main Areas of Practice:

M&A / Privatisations / Corporate and Commercial:

5 partners; 6 associates

■ Advised H Hotels Collection, a provider of world-class holiday experiences in luxury resorts, in its acquisition of Titania Hotel Athens.

■ Advised H Hotels Collection, a provider of world-class holiday experiences in luxury resorts in Rhodos in its acquisition of Rhodes Bay Hotel & SpaκαιElite Suites Rhodes Bay

■ Acted as the legal advisor to Howden Hellas SA, the largest insurance broker in Greece and Cyprus and a key member of the Global Howden Group, in the acquisition of Primary Link S.A.Insurance Brokersand NIKI LLC. Insurance Brokers

■ Hellenic Republic Asset Development Fund: privatisation of the Mykonos Port Tourlos

■ Hellenic Republic Asset Development Fund: development of an underwater gas storage tank located in South Kavala

■ Acted for sellers in the electricity supplier’s NRG shares sale to the Motor Oil group

■ Represented the electricity incumbent in the divestiture of the power grid company via the sale of shares to China’s SGID and to a state owned SPV and indirect listing of the rest of stock

■ Acquisition of a hotel and residential complex in the center of Sofia, Bulgaria and hotel management agreements

■ Divestiture of a Greek systemic bank’s subsidiary in North Macedonia

■ Advising and representing clients on several business law and regulatory issues, e.g. company transformations, commercial agency and distribution, business transactions, et.al.

Contacts: Alkistis Christofilou, Mira Todorovic Symeonides, Dr. Harris Synodinos, Dr. Antonios Tsavdaridis, Nick Boutsikos

Energy:

2 partners, 5 associates

■ Energy related privatisations and M&As as listed in the M&As section

■ Hellenic Republic Asset Development Fund: concession on development of an underwater gas storage tank located in South Kavala

■ Legal support to several RES developers in their business activities in Greece: acquisition of a Project of strategic interest for development of over 250 MW of solar PV and further support in licensing and other procedures; green field development of: 250 MWp PV solar with storage system of 250 MWh, 250 MWp PV solar and 300 MWp solar with storage system; developing a project of above 200 MW of wind farms; legal support regarding the EPC agreement negotiations for an above 200 MW PV park

■ Legal support to an electricity supplier regarding the procedures and obligations of suppliers in compliance with EMIR, REMIT, MFiD II, and Energy exchange regulation

■ Support to a gas distribution operator regarding gas distribution tariffs

■ Representation of the incumbent’s RES subsidiary in a dispute before the Supreme Administrative Court re the legality of the generation license of a wind farm

■ Representation of a private electricity and gas supplier in numerous cases before the Supreme Administrative Court regarding the legality of the terms of electronic auctions of electricity futures

■ Representation of a gas supplier in disputes with the gas TSO regarding booking capacities

■ Representation of major Greek energy-intensive industrial client in a dispute against the Greek electricity TSO regarding charges imposed to auto-producers with high efficiency cogeneration of heat and power (CHP)

■ Support of DSO acting as Market Operator of the non-interconnected islands in regard to drafting a proposal of a Ministerial Decision regulating two pilot projects for clean islands

Contacts: Mira Todorovic Symeonides, Dr. Harris Synodinos

Dispute Resolution & ADR:

5 partners; 7 associates

The Dispute Resolution department comprises the Litigation Department and the Arbitration Department.

Rokas Law Firm is considered as a top choice for arbitration (domestic and international) as well as for complex litigation (before Greek courts) in all areas of commercial law. The department's expertise, apart from insurance and general commercial and corporate law, includes cases in energy, construction, pharmaceuticals, travel & leisure, public concessions, privatisations, M&As, maritime, professional liability, pollution, international trade.

■ Arbitration for the French, Italian and Greek Guarantee Funds against the Motor Insurance Bureau of the UK, in the first ever international arbitration between Motor Insurance Bureaus, in a dispute related to the insolvency of a Gibraltar insurer

■ Representing Generali and QBE in a series of claims litigation originating from the closure of the main Greek Motorway connecting Athens and Thessaloniki owing to rock fall

■ Representing the incumbent gas distribution company in two ad hoc international arbitrations against a Greek insurer for claims originating from non consumption of agreed gas quantities by incumbent’s clients (electricity producers)

■ Represented the Greek subsidiary of the world leading cement producer in a unique dispute before the Administrative Supreme Court, involving the recovery of state aid

■ Advisor to one of the world’s leading batteries’ manufacturer in the largest ever casualty (fire) insurance claim in Greece

■ Representing several insurers in claims against the Hellenic Republic due to unlawful conduct of the police during the December 2008 riots

Contacts: Dr. Antonios Tsavdaridis, Nick Boutsikos, Christos Theodorou

Insurance:

5 partners; 5 associates

Rokas Law Firm is a one-stop shop for the full suite of insurance law matters. Our insurance practice is characterised by:

• Leading practice in insurance law
• Combination of academia on highest local and international level with practitioner’s agility
• Participation in innovation in insurance services (InsurTech, RegTech, e-resolution of disputes, design of new insurance products)
• Key clientele in the insurance and insurance distribution industry in Greece, the EU and the USA
• Experience in complex M&As of a broad range from privatizations to business portfolio transfers, and corporate transformations in regulated markets, mainly cross-border
• Experience in cross-sectoral JV’s, including insurance with services companies, distribution and financial / insurance services, cross border formations as a result of Brexit
• Flexibility in providing legal services ranging from major litigation/ arbitration and transactions to day-to-day legal support
• Department with volume litigation for smaller claims
• Membership in the Interlaw global network of law firms
• Active participation in the works of AIDA (International Association of Insurance Law)
• Alkistis Christofilou is elected Co-Chair of AIDA Europe
• Emer. Prof. Dr. Ioannis Rokas is honorary President of the AIDA World organisation

■ Rokas represents the insurer in a 25 million EUR fire loss dispute, regarding a factory complex, against the real estate owner. The core of the dispute revolves around the insurer’s allegation, that the fire was caused intentionally by the tenant - operator of the factory

■ Battery manufacturer – the firm represented the insured in an out-of-court settlement, by which he received the largest ever insurance indemnity paid in Greece

■ The firm maintains a recognised leading practice in insurance, reinsurance and insurance mediation law. It supports Greek and international clients in all related aspects including establishment, licensing and run-off, M&As and portfolio transfers, passporting of services, regulatory and compliance issues, the Brexit

Contacts: Prof. Dr. Ioannis Rokas, Alkistis Christofilou, Christos Theodorou

Pharmaceuticals and Diagnostics:

3 partners; 3 associates

■ Recorded the first winning decisions in clawback litigation in Greece, annulling the obligation of client to pay clawback

■ Representing three global leader pharmaceutical companies and diagnostics company against the HR in litigation over clawback disputes and over the collection of public hospitals debt

■ Provision of day-to-day legal support to major pharmaceutical companies with regard to various regulatory issues

■ Preparation and review of clinical trial agreements for various arrangers

Contacts: Christos Theodorou, Nick Boutsikos, Dr. Harris Synodinos, Alkistis Christofilou

Employment:

1 partner; 2 associates

■ Representation of a major insurance company as employer and as insurer concerning the calculation of the pension benefit (lump-sum) that is provided to its employees who exit for full or early retirement.

■ First Instance Courts rejected several ex-employees lawsuits against the client

■ Advised a MNC pharmaceutical company on reorganization/voluntary exit scheme

■ On-going support to companies of a wide range of sectors

■ Representation of a major insurance company on a pilot case concerning the existence or not of obligation on the part of the employer, deriving from a Group insurance contract, for the payment of a lump sum benefit to its employees during their exit, in view of the fact that the relevant reserves are not sufficient

Contact: Christos Theodorou