How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?

The pandemic increased the responsibilities of the legal department and shifted attention to some topics such as social responsibility and employee’s wellbeing. Contract management and ligation were still relevant, especially because of increasing disputes over blame for losses that resulted from breach of contracts due to the Covid-19 outbreak. Risk management and restructuring have also been in the spotlight stemming from the pandemic. All the above somehow accelerated a trend towards an increased role of in-house counsel, becoming a strategic and trusted advisory partner to the boards.

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

The Trussardi legal team was involved in a relevant financing operation in the last year. We were able to secure a debt restructuring agreement that involves several banks. The first was issued by the group of the PFIs aimed at financing its relaunch – worth several million euros.

What do you feel are the pros and cons of an in-house legal role compared to a private practice one?

In-house teams have the chance to advise on various matters, being exposed to many areas of law, making the job remarkably interesting and ever changing. Being integrated into the company’s organisation, provides effective skills in targeting and preventing specific issues from occurring. In-house counsel can participate in the decision-making processes, feeling as an integral part of the company rather than just a hired gun. On the other hand, private practice lawyers have more time to analyse and solve complex matters, which is not always the case when working in-house. Private practice lawyers have greater access to resources for legal research, publications, and training.