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

Urbanova manages three businesses: office buildings, shopping centres, and hotels. Among the most important transactions we have been recently involved in, there is the syndicated loan of $190m under New York state law to refinance offices and shopping centres’ debts and the legal integration of business hotels into the real estate business.

In parallel, we have negotiated hotel management agreements in order to deliver the operation of six hotels to an international company.

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 has forced legal teams to make quicker decisions in response to unprecedented situations. We had to find the right balance between risk mitigation and the continuity of business operations.

Lawyers had to take on a more strategic and preventive role in managing legal aspects and risks, with greater proactivity in mitigating risks. Due to a new way of conducting work, in-house lawyers will have an important focus on the management of human resources in order to maintain a high degree of collaboration within the team to preserve the value generated by face-to-face interactions. At the same time, it will be necessary to perfect management systems that allow us to keep working smoothly while maintaining the integral vision of the business.

What are some of the key developments – legal, geopolitical or otherwise – that have affected your business over the past year?

Remote work has meant that companies re-evaluated how to manage their office spaces. Companies now demand greater flexibility in contracts and less leasable area in the workplace, as they are returning to work in hybrid schemes. For the retail business, the online sales channel grew to the detriment of face-to-face shopping. Finally, the business hotel was significantly affected by the closure of borders. In all three businesses, constant legal advice has been required.

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most?

Due to the pandemic, technology has become even more important, and with it the need for legal teams to seek the advantage of new technologies which would make their work more efficient, especially in the eye of their internal customers. I believe that technological advancements that automatise bureaucratic processes such as document and contract management will also optimise the role of lawyers.