Team size: 20

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?  

Who says “innovation” must be something completely unprecedented? Sometimes, it can be there, right in front of your eyes, and be nothing more than the effective application of common sense. In our case, having to respond to the rapidly growing need for legal advice from other departments, we had to find a way to manage the request for legal advice on contractual matters.

Our innovation was to create a library of standardised templates for different types of legal contracts. These templates were formally sent to other corporate officials with predefined formatting, and appropriate contractual clauses were added for our benefit. Thus, we relieved each contract handler of the obligation to consult the legal department, leaving them just needing to insert the missing information into the placeholders.

What are the most significant cases or transactions that your legal team has recently been involved in?  

Lamda has been at the centre of attention for our achievements in recent years as a result of our business successes. We are proud to be able to demonstrate a record of accomplishment in a range of endeavours, from real estate and energy to start-ups and corporate restructuring. If I had to pick one, the acquisition of Ellinikon would be the standout.

On June 25, 2021, Hellinikon Global I, a subsidiary of Lamda Development, signed an agreement to acquire 100% of Ellinikon’s share capital, as stipulated in the Share Purchase Agreement from November 14, 2014. Ellinikon holds development rights for the former Elliniko airport and the Agios Kosmas coastal front.

Lamda Development aims to create a sustainable and smart city at the former Elliniko airport and Agios Kosmas coastal front. This transformation, initiated by the Public Private Property Development Fund (DAIPED) in the last decade, officially began on June 25, 2021, with a development budget of €8 billion, marking a new era for Greece. In this context, “HELLENIC GLOBAL I S.A.” made the first payment of EUR 300 million as part of the Share Acquisition Price, supported by a Letter of Guarantee for EUR 347 million from “Eurobank S.A.” and Piraeus Bank S.A. The total purchase price is EUR 915 million, payable over ten (10) years. We acknowledge our achievements to date with humility, recognising that success results from collaboration, support, and the lessons learned from both successes and failures.

How important is choosing to work with external lawyers who align with your company’s values? Are you likely to reconsider what firms you work with based on this?

It is crucial. External counsels provide expertise on specific issues that are outside the company’s day-to-day business. This feature of their working ability guarantees smoother collaboration and flexible cooperation. We screen our external counsel by applying extremely strict criteria and have forged strong professional ties with them and consider ourselves fortunate that we share a common goal. Considering the rapid growth of our company and the distinct areas where specialised counsel may be required, we are open to exploring new partnerships.