Tapping into experts from banking, capital markets and project finance, the multidisciplinary team at Koutalidis Law Firm has considerable experience handling distressed finance mandates, from balance sheet restructurings and liability management exercises, through to processes under the Greek Insolvency Code. Leveraging its strong ties with Greek banks, much of the work is on the creditor front, often where the firm has handled the original financing. The banking head Nikos Salakas plays a central role, drawing upon knowledge of the underlying finance documents and with deep expertise across a myriad finance products. Corporate finance head Effie Papoutsi is also pivotal to the firm’s restructuring prowess, regularly advising on bank refinancing loans and bonds for corporates, as well as advising Greek banks and investors in relation to the sale and purchase of NPL portfolios.

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Key clients

  • Alpha Bank S.A.
  • Eurobank S.A.
  • National Bank of Greece S.A.
  • Piraeus Bank S.A.
  • Attica Bank S.A.
  • Optima Bank S.A.
  • Waterwheel Capital Management LLP

Work highlights

  • Advised a syndicate of the Greek systemic banks in connection with the refinancing of the existing indebtedness to such banks of Athens International Airport S.A.
  • Advising Waterwheel Capital Management LLP on its potential investment in Project Solar. The project comprises the sale by Alpha Bank S.A., Eurobank S.A., National Bank of Greece S.A. and Piraeus Bank S.A. of 95% of class B and class C notes to be issued by a securitisation SPV for the financing of the acquisition of a portfolio of common, predominantly non-performing exposures of corporate, small and medium enterprise loans and small business loans with an on-balance sheet amount of c.€1.2bn as of 30 September 2021.
  • Advising the United States International Development Finance Corporation (DFC), a US State-owned development finance institution on the financing of ONEX Elefsis Shipyards and Industries SA, organised and existing under the laws of the Hellenic Republic of Greece for the acquisition, rehabilitation, and upgrades to the Elefsina Shipyards in Athens, Greece.

Practice head

The lawyer(s) leading their teams.

Nikos Salakas, Nikos Koritsas, Ioannis D. Kaptanis, Effie Th. Papoutsi

Other key lawyers

Chrysanthi Karlou, Dimitris Kalyvas, Georgia Koutsoukou