Globalaw in the news.
Dec 2024Member Spotlight: ADVEL, Reykjavik
As one of Iceland’s leading corporate advisory law firms, ADVEL Attorneys at Law has earned a reputation for international expertise, a strong network, and exceptional services tailored to clients' needs.
In a recent interview, Stefán Þór Ingimarsson, LL.M., partner and associate at ADVEL since 1999, shed light on the firm’s evolution, specialization, and commitment to nurturing talent.
The Firm’s Evolution
Based in Reykjavik, the firm traces its roots back to 1966 with the creation of Logvisi Law Firm, which in 1999 formed the backbone of Fulltingi Legal Services. Fulltingi split into two specialized entities in 2008, creating ADVEL, a pivotal moment that allowed ADVEL to sharpen its focus on corporate advisory services.
Despite its smaller size post-split, the firm thrived. Its dedication to excellence has been recognized repeatedly, earning high rankings in prestigious legal directories like Legal 500 and Chambers and Partners.
Diversity Across Sectors
ADVEL offers services in company law, commercial law, financing and banking law, mergers and acquisitions, securities market law, (re) insurance, European law, competition law, tax law, restructuring and bankruptcy law, maritime law, and litigation.
Its litigation team provides specialized advice on EU law from partners with firsthand experience in Brussels. The firm also plays a vital role in Iceland’s high-energy sector, advising companies engaged in hydro and geothermal energy projects—two cornerstones of the nation’s renewable energy landscape.
International Expertise
One of the firm’s most defining traits is its international expertise. Many of its partners and associates have studied or gained professional experience abroad, bringing their clients a wealth of knowledge and a global perspective. This international acumen proved invaluable during Iceland’s 2008 economic collapse when the firm was critical in restructuring and relisting companies on the Stock Exchange.
The Globalaw Advantage: Facilitating Success for Global Clients
ADVEL stands out for its robust cross-border work. The firm’s ability to navigate the complexities of multinational operations stems from its long-standing connection to the Globalaw network. Stefán, who forged this relationship with the association in 2007 during his PhD studies in the Netherlands, emphasized the association's importance in quickly providing high-quality information, support, and connections to clients. The firm frequently collaborates with Globalaw members, particularly in Denmark and the Netherlands, as well as Luxembourg and the UK, to offer seamless, comprehensive legal support to companies with multinational operations.
One example is ADVEl’s work with Hampidjan Group, a NASDAQ Nordic-listed company and global supplier of fishing gear, aquaculture equipment, and super towing ropes. In collaboration with Globalaw members, the firm has facilitated several multinational M&A transactions and advisory for Hampidjan, including the acquisition of an 80% controlling stake in two Scottish companies. Globalaw advice has been sought in several jurisdictions for Hampidjan Group, including in Denmark, Faroe Islands, Lithuania, Spain, and the Netherlands.
A Culture of Growth and Inclusion
Perhaps ADVEL’s most significant differentiator is its commitment to cultivating talent from within. Many partners began their careers as associates and have been with the firm for 10 to 20 years, with several professionals returning after gaining experience elsewhere. This dedication to internal growth has fostered a loyal, close-knit team and built a culture of inclusion and organic development that has become central to its success and longevity.
Visit https://advel.is/ to learn more.
Nov 2024October Recap
The October Month at a Glance features a special member spotlight on Simpson Western, a recap of Globalaw Talks... insights on the Corporate Transparency Act, and more
Read the Month at a Glance here.
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Oct 2024Member Spotlight: Simpson Western, New Zealand
Our member spotlight for October is Simpson Western, from
Auckland, New Zealand.
Read the full article here.
Oct 2024Personal Data Law
After seven years of processing, last August 26, the Congress approved the bill that regulates the protection and processing of Personal Data, creating the Agency for the Protection of Personal Data, corresponding to bulletins No. 11,092-07 and 11,144-07 (hereinafter, the“Bill”). This initiative implies a profound reform of Law No. 19,628, previously known as the “Law on the Protection of Private Life”. Therefore, preventive constitutional review by the Constitutional Court is still pending, as well as its subsequent promulgation and publication for it to enter into force.
Read more here.
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Sep 2024September 2024
The September Month at a Glance features a recap of Globalaw Talks... International Deals, a Member Spotlight on Costa Rica and the latest updates from our Members.
Read it here.
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Jul 2024Progressions in Philippine Maritime Law – Opening the Gates Via the Amended Public Service Act
The Philippines has long been considered the sick man of Asia. With repeated moves to open up its economy and liberalize industries in the name of development and foreign investments, the Public Service Act has finally been amended. This is the breakthrough that supposedly a lot of industries have been waiting for, the shipping industry included. This article aims to give a glimpse into what may lie ahead for shipping and its related businesses.
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May 2024May 2024
The May Month at a Glance features a special member spotlight on PCV, Globalaw Talks... AI, and the latest updates on our network!
Read our Month at a Glance.
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Jan 2024Take aways on the government of Florida's prohibitions on acquisition of real property in Florida by foreign principals
Florida’s new law, the Conveyances to Foreign Entities Act (the "Act"), Sections 692.201 – 205, Florida Statutes, went into effect on July 1, 2023, and redefined the Florida real estate market for foreign purchasers from seven “countries of concern.” The Act requires those foreign purchasers to determine whether they are Foreign Principals prohibited from acquiring or owning real property in Florida, whether they are subject to registration requirements, or whether they are required to dispose of such real estate. Non-compliance renders the real property subject to forfeiture and sale of such real property (subject only to the rights and interests of bona fide lienholders) and risks daily fines of $1,000 and criminal penalties.