About

What geographical area do you cover and what challenges have you faced in covering these jurisdictions?

We, as a group, are operating mainly in the Middle East and Balkans. Yet since our core area of operation is iron-steel, we are making purchases either raw material or auxiliary products from almost all corners of the world. Therefore, one of the most challenging issues that we have faced is to determine the applicable law and jurisdiction for our contracts.

Secondly, guaranty periods and conditions for each material to be purchased vary from country to country, as well as the type of product. Conducting research and finding the right conclusion on that subject can be quite challenging as well. It is also quite challenging finding the right outside counsel to be work with within these different jurisdictions.

What are the most important transactions and litigation that you have been involved in during the last two years?

By far the most important litigations that we have been involved in are during applications to the courts of each jurisdiction that our group is operating in order to restructuring the company’s debts. Reason why we have applied in each jurisdiction not only to protect the group company that resides within this country but also there were cross-guaranties between such group companies. We have managed successfully have protection from the courts for to continue our operations and meanwhile executed restructuring contracts with our debtors. We also managed to execute restricting contracts with most of our debtors. I basically say that these litigations saved the company go bankrupt. The reasons of this negative business environment have been stated under below questions.

What have been the major external trends that have impacted your team’s work over the past two years (market developments, changing regulatory environment, political events etc.)?

I think political instability in the countries that we have operations is the one of the most negatively impacting factor since it makes very difficult to have contracts with the state where you cannot see the predictable future. We have come across a number of examples of these unforeseen situation yet luckily managed to survive without going international investment arbitration so far. We have still two pending problems with two different states that might be end up with the international investment arbitration.

Market wise, aggressive price policies of the Chinese iron-steel producers made very hard to compete in that sector for the small-middle size producers where almost every producer in Middle East and Balkans could be deemed small-middle size producer when they be compared to giant Chinese producers. Especially at this sector namely iron-steel, European and Middle Eastern governments should make more productive and effective competition laws in order for these small-middle size producers shall survive.

What techniques do you use to provide commercially-focused and optimal business advice to your company? If so, how do you get these across to more junior lawyers in the team?

Legal advice to be rendered to our company must be clear, understandable and business-oriented. Yet, it varies from jurisdiction to jurisdiction, sector to sector, even customer to costumer. Even it changes when you make sale or when you make purchase. So, each case requires its own legal and business oriented analyses. Which means, there is no one and definitive answer or technique that could be applied to each and entire cases where I believe case-based approach is the key. It might be challenging for the general counsel and also for the legal team, I think it is a must taking the future of the company into consideration.

I think junior lawyers could understand this case-based approach easily while they are having experiences during their career. Yet understanding and doing is something is quite different from each other. Therefore, monitoring these junior lawyers work in each phase by general counsel and make sure that they are performing their duties accordingly is very important not only for the company, but also for the professional progress of each of this junior lawyer.

What is currently missing from law firm services that would benefit their corporate clients?

Forgetting it is a team work and trying to make their one-man show. Also being honest when they are trying to get the job about the due process of the case at the stake and acting exaggeratedly knowledgeable on the topic that they are being hired. It might impress the Board or the management of the company in the first place but it will quite be damaging on the future outcomes both for the company and for the reputation of such law firm. Instead of this law firms and outside counsel should bear in mind that we are not looking for the lawyers that know everything on the legal problem at stake which is impossible anyway. We are basically looking for hardworking and easy to work with legal partner.

If you had to give advice to an aspiring in-house lawyer or general counsel what would it be and why?

Outside counsels could never have business oriented approach and view as general counsels. If you want to be a lawyer and also a business person, it is the only job you can practice. Position of general counsel is equivalent to CFO or COO in a company. That could easily indicate the importance of this position.

FOCUS ON

We have limited sources to impact the legal conditions within the country but it is in our hands to apply what we have to our business.  What we except from the outside counsels is to be a solid bridge between the GC of the company and the courts and/or the new legislations that they are expert on. Rendering short and up to the point answers/advices is the key to build a successful relationships with the GC.