News

Increased interest in investment opportunities in Iceland

Gunnar Thorarinsson, Head of London Office, discusses the increased interest in investment opportunities in Iceland in an interview with Morgunblaðið. Gunnar notes that Brexit has created opportunities that are beneficial for the Icelandic market particularly in the renewable energy sector. Further, Gunnar points out that there are several opportunities resulting from the financial crisis as many financial institutions developed knowledge about the Icelandic market that is now being used for new investment opportunities. Gunnar considers the presence of the BBA//Fjeldco team, which now consists of four lawyers in London, essential as it serves the purpose of engaging with investors interested in Iceland, promoting exciting investment opportunities in Iceland, and enabling Icelandic parties to invest in London. As the goal of BBA//Fjeldco is to use its specialized knowledge for the benefit of its clients and provide exclusive and outstanding services.

Gunnar Thorarinsson, Head of London Office, discusses the increased interest in investment opportunities in Iceland in an interview with Morgunblaðið. Gunnar notes that Brexit has created opportunities that are beneficial for the Icelandic market particularly in the renewable energy sector. Further, Gunnar points out that there are several opportunities resulting from the financial crisis as many financial institutions developed knowledge about the Icelandic market that is now being used for new investment opportunities. Gunnar considers the presence of the BBA//Fjeldco team, which now consists of four lawyers in London, essential as it serves the purpose of engaging with investors interested in Iceland, promoting exciting investment opportunities in Iceland, and enabling Icelandic parties to invest in London. As the goal of BBA//Fjeldco is to use its specialized knowledge for the benefit of its clients and provide exclusive and outstanding services.

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BBA//Fjeldco provides legal advice to the United Nations Development Program (UNDP) in creating laws and regulations relating to the harnessing of geothermal reservoirs in the Comoros Islands.

BBA//Fjeldco has been retained by the UNDP in Comoros and supported by the Ministry for Foreign Affairs of Iceland to create a regulatory framework for the research and utilization of renewable energy resources in the Comoros Islands, in cooperation with Iceland GeoSurvey (ÍSOR), Verkís Consulting Engineers and Intellecon economic consultancy.

The project is highly innovative, as Icelandic knowledge, experience and ingenuityis used to create a framework to increase the use of renewable resources toenhance the energy sustainability of the Comoros Islands.

Baldvin Björn Haraldsson and Antoine Lochet are heading the project on behalf of BBA//Fjeldco.

BBA//Fjeldco has been retained by the UNDP in Comoros and supported by the Ministry for Foreign Affairs of Iceland to create a regulatory framework for the research and utilization of renewable energy resources in the Comoros Islands, in cooperation with Iceland GeoSurvey (ÍSOR), Verkís Consulting Engineers and Intellecon economic consultancy.

The project is highly innovative, as Icelandic knowledge, experience and ingenuityis used to create a framework to increase the use of renewable resources toenhance the energy sustainability of the Comoros Islands.

Baldvin Björn Haraldsson and Antoine Lochet are heading the project on behalf of BBA//Fjeldco.

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BBA//Fjeldco provided legal advice to Vauban Infrastructure Partners

BBA//Fjeldco provided legal advice to Vauban Infrastructure Partners in relation to Vauban´s acquisition of the majority of shareholding in Borealis Data Center, previously known as Etix Everywhere Borealis. BBA//Fjeldco provided legal advice on the Icelandic legal framework of the target undertaking, performed a legal due diligence, and provided legal advice on the transaction documents, from an Icelandic law perspective.

 

Vauban Infrastructure Partners is one of Europe’s leading asset management companies that is focused on infrastructure equity investments that contribute to the sustainable development of local communities and their environments. Borealis Data Center operates two data centers in Iceland that are located in Blönduós and Fitjar in Reykjanesbær. Borealis emphasises on sustainable data centers using renewable clean and carbon-free energy.

BBA//Fjeldco provided legal advice to Vauban Infrastructure Partners in relation to Vauban´s acquisition of the majority of shareholding in Borealis Data Center, previously known as Etix Everywhere Borealis. BBA//Fjeldco provided legal advice on the Icelandic legal framework of the target undertaking, performed a legal due diligence, and provided legal advice on the transaction documents, from an Icelandic law perspective.

 

Vauban Infrastructure Partners is one of Europe’s leading asset management companies that is focused on infrastructure equity investments that contribute to the sustainable development of local communities and their environments. Borealis Data Center operates two data centers in Iceland that are located in Blönduós and Fitjar in Reykjanesbær. Borealis emphasises on sustainable data centers using renewable clean and carbon-free energy.

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BBA//Fjeldco gets an impressive ranking as a Top Tier Firm

In the latest Edition of IFLR1000 – The Guide of the World´s Leading Financial Law Firms, BBA//Fjeldco gets an impressive ranking as a Top Tier Firm. We feel honored and grateful for our impressive ranking and remain committed to making continuous improvements to our services and maintaining our position as a market leader.

Here you can read more about their impressive ranking.

In the latest Edition of IFLR1000 – The Guide of the World´s Leading Financial Law Firms, BBA//Fjeldco gets an impressive ranking as a Top Tier Firm. We feel honored and grateful for our impressive ranking and remain committed to making continuous improvements to our services and maintaining our position as a market leader.

Here you can read more about their impressive ranking.

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Trading has now commenced with shares of Íslandsbanki hf. following a successful IPO!

BBA//Fjeldco advised Icelandic State Financial Investments (ISFI) and Íslandsbanki hf. relating to the IPO, which is the largest IPO in history of Iceland and the largest European bank IPO since 2018.

Prior to the IPO Íslandsbanki was wholly owned by ISFI, on behalf of the Treasury of Iceland. ISFI will hold 65% of the share capital of Íslandsbanki hf. following the offering, assuming full exercise of the overallotment option.

The team was led by partner Einar Baldvin Árnason, partner Bjarney Anna Bjarnadottir, senior associate Sara Rut Sigurjónsdóttir, associate Sigvaldi Fannar Jónsson and partner Kári Ólafsson.



BBA//Fjeldco congratulates everyone involved.

BBA//Fjeldco advised Icelandic State Financial Investments (ISFI) and Íslandsbanki hf. relating to the IPO, which is the largest IPO in history of Iceland and the largest European bank IPO since 2018.

Prior to the IPO Íslandsbanki was wholly owned by ISFI, on behalf of the Treasury of Iceland. ISFI will hold 65% of the share capital of Íslandsbanki hf. following the offering, assuming full exercise of the overallotment option.

The team was led by partner Einar Baldvin Árnason, partner Bjarney Anna Bjarnadottir, senior associate Sara Rut Sigurjónsdóttir, associate Sigvaldi Fannar Jónsson and partner Kári Ólafsson.



BBA//Fjeldco congratulates everyone involved.


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Recognition and enforcement of judgments after Brexit

Following Brexit there has been uncertainty concerning the enforcement of judgments between the UK and Iceland, as the UK is no longer a party to the Lugano Convention. Recently, BBA//Fjeldco has been advising its clients on this issue in relation to commercial agreements and enforcement and consequently brought this to the attention of the Icelandic Ministry of Justice with proposed solutions. As a result, the Ministry is now considering putting in place a bilateral agreement between the UK and Iceland in relation to the reciprocal enforcement of judgments.

An article written by Gunnar Thor Thorinsson and Hafliði K. Lárusson on recognition and enforcement of judgement after Brexit was published in Morgunblaðið and can be found here on Morgunblaðið webside

Following Brexit there has been uncertainty concerning the enforcement of judgments between the UK and Iceland, as the UK is no longer a party to the Lugano Convention. Recently, BBA//Fjeldco has been advising its clients on this issue in relation to commercial agreements and enforcement and consequently brought this to the attention of the Icelandic Ministry of Justice with proposed solutions. As a result, the Ministry is now considering putting in place a bilateral agreement between the UK and Iceland in relation to the reciprocal enforcement of judgments.

An article written by Gunnar Thor Thorinsson and Hafliði K. Lárusson on recognition and enforcement of judgement after Brexit was published in Morgunblaðið and can be found here on Morgunblaðið webside.

See English version of the article here below

Recognition and Enforcement of Judgments after Brexit – A Solution is Needed

One of the consequences of Brexit is that there currently exists considerable uncertainty regarding the reciprocal recognition and enforcement of judgments between the UK and Iceland.  This uncertainty has caught some by surprise and it may lead to difficulties for Icelandic companies involved in international business.

The Lugano Convention

Before Brexit, both the UK (as an EU Member State) and Iceland (as an EEA Member State) were parties to the Lugano Convention on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters. After Brexit, the UK is no longer a party to the Lugano Convention, which means that currently there exists considerable uncertainty as to whether Icelandic courts will recognise and enforce UK judgments, and vice versa.

Current Uncertainty

This uncertainty is damaging in light of the large volume of business between the UK and Iceland and also having in mind the large number of commercial and finance agreements between Icelandic and international parties and where the parties have agreed to the jurisdiction of the English courts.

As matters currently stand, it is difficult to predict how Icelandic courts would deal with questions regarding the enforcement of English judgments, but it can be concluded with certainty that nothing in Icelandic law or on the basis of international treaties means that Icelandic courts are obligated to grant English judgments recognition and enforcement in the same way as under the Lugano Convention regarding judgments originating from other EEA countries and Switzerland.

Potential Solutions

There may be a number of solutions to the current position. First, the UK has applied to accede to the Lugano Convention, but until now (as part of the continuing negotiations between the EU and the UK) the EU has been reluctant to agree to such accession by the UK.

In some instances, the UK and individual EU/EEA Member States may be able rely on earlier bilateral treaties regarding the recognition and enforcement of judgments and which were entered into prior to the UK’s entry into the EU.  To give an example, the UK and Norway have recently “revitalised” such bilateral treaty from 1961 between the two countries. However, no such treaty exists between Iceland and the UK.  

In this context, it is also worth noting that both the EU and the UK (now individually after Brexit) are parties to the 2005 Hague Convention on choice of court agreements, which sets out reciprocal recognition and enforcement of judgments where the underlying agreement contains an exclusive jurisdiction clause. However, Iceland is not a party to the Hague Convention, which means that it does not apply between the UK and Iceland.

A Permanent Solution for Iceland?

In order to avoid the current uncertainty, the only permanent solution would be for Iceland and the UK to enter into a bilateral treaty regarding the mutual recognition and enforcement of judgments.  Such mutual recognition and enforcement was in place between the two countries under the Lugano Convention between 1994 (when Iceland became a EEA Member State) and until 31 December 2020 (when the UK left the EU). Therefore, the effects of such bilateral treaty would not present a material change but rather be a continuation of an arrangement which has been in place between the two countries for almost three decades and which is independent of the common EEA regulatory framework as such, as there is no common EEA contract law, law of sale of goods and services or law of obligations and, therefore, the substantive governing law of the agreement is question is rarely some common EEA law in any event.  Further, such bilateral treaty could follow the wording of the Lugano Convention or, e.g., of the 1961 treaty between the UK and Norway, along with any appropriate amendments.

By entering into a bilateral treaty regarding the recognition and enforcement of judgments, Iceland and the UK would resolve the current uncertainty in a straight-forward manner and also strengthen the relationship between the two countries in the post-Brexit era.

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The city of Reykjavík must tender it purchases of electricity

The Public Procurement Complaints Commission has ruled that the city of Reykjavík must tender its purchases of electricity and was fined a total of ISK 8.000.000,- for breaching the Act on Public Procurement.

The Commission came to this conclusion following Íslensk orkumiðlun ehf.’s complaint in early 2020 whereby Íslensk orkumiðlun ehf. demanded that the electricity purchase agreements between the city and Orka náttúrunnar ohf. would be nullified and the city would be required to tender its electricity purchases.

BBA//Fjeldco represented Íslensk orkumiðlun ehf.

The Public Procurement Complaints Commission has ruled that the city of Reykjavík must tender its purchases of electricity and was fined a total of ISK 8.000.000,- for breaching the Act on Public Procurement.

The Commission came to this conclusion following Íslensk orkumiðlun ehf.’s complaint in early 2020 whereby Íslensk orkumiðlun ehf. demanded that the electricity purchase agreements between the city and Orka náttúrunnar ohf. would be nullified and the city would be required to tender its electricity purchases.

BBA//Fjeldco represented Íslensk orkumiðlun ehf.

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Geymslur acquitted in the Supreme Court

The Supreme Court of Iceland has ruled that the storage company Geymslur ehf., that leased storage spaces in Miðhraun Garðabær, is not liable for damages caused by a fire outbreak in the year 2018.

BBA//Fjeldco represented Geymslur ehf. on all judicial levels. The company was acquitted by the district court, Landsréttur the appeal court as well as by the Supreme Court.

The Supreme Court of Iceland has ruled that the storage company Geymslur ehf., that leased storage spaces in Miðhraun Garðabær, is not liable for damages caused by a fire outbreak in the year 2018.

BBA//Fjeldco represented Geymslur ehf. on all judicial levels. The company was acquitted by the district court, Landsréttur the appeal court as well as by the Supreme Court.

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The Icelandic chapter of Mergerfilers.com provides an up-to-date merger control guide covering the 50 most central topics

Mergerfilers.com provides an up-to-date and well-explained worldwide merger control guide. The 50 topics include merger filing thresholds,links to legislation, guidelines and filing forms, notification procedures, filing fees and more. The guide also includes a decision database that can be used to find precedents on market definitions.

Partners Bjarney Anna Bjarnadóttir and Halldór Karl Halldórsson and Associate Þorbjörg Ásta Leifsdóttir have written the Icelandic chapter and the contributions to the decision database. Read the Icelandic chapter and the complete guide at Mergerfilers.com

Mergerfilers.com provides an up-to-date and well-explained worldwide merger control guide. The 50 topics include merger filing thresholds, links to legislation, guidelines and filing forms, notification procedures, filing fees and more. The guide also includes a decision database that can be used to find precedents on market definitions.

Partners Bjarney Anna Bjarnadóttir and Halldór Karl Halldórsson and Associate Þorbjörg Ásta Leifsdóttir have written the Icelandic chapter and the contributions to the decision database. Read the Icelandic chapter and the complete guide at Mergerfilers.com

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BBA//Fjeldco and White & Case legal consultants in the sale of Íslandsbanki

BBA//Fjeldco along with the international law firm White & Case LLP have been selected to provide ISFI (Icelandic State Financial Investments) and Íslandsbanki with joint legal consultation on the sale of the Icelandic state’s shareholdings in Íslandsbanki, one of the three largest banks in Iceland. BBA//Fjeldco was selected from a group of six domestic law firms and White & Case was selected from a group of nine international law firms that participated in separate public tenders for the project.

We at BBA//Fjeldco are pleased to have been chosen to be a part of this team of experts and look forward to participating in this project. Both law firms have already commenced their work.

BBA//Fjeldco along with the international law firm White & Case LLP have been selected to provide ISFI (Icelandic State Financial Investments) and Íslandsbanki with joint legal consultation on the sale of the Icelandic state’s shareholdings in Íslandsbanki, one of the three largest banks in Iceland. BBA//Fjeldco was selected from a group of six domestic law firms and White & Case was selected from a group of nine international law firms that participated in separate public tenders for the project.

We at BBA//Fjeldco are pleased to have been chosen to be a part of this team of experts and look forward to participating in this project. Both law firms have already commenced their work.

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BBA//Fjeldco retains its top-tier ranking in The Legal 500

One of the legal profession's most well reputed rating agencies, Legal 500, has just published its ratings for 2021. Once again BBA//Fjeldco is top rated within all of the firms main practice areas.

Here you can read more about their impressive ranking

One of the legal profession's most well reputed rating agencies, Legal 500, has just published its ratings for 2021. Once again BBA//Fjeldco is top rated within all of the firms main practice areas.

Here you can read more about their impressive ranking

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Merger between TM hf., Lykill fjármögnun hf. and Kvika banki hf

BBA//Fjeldco acted as the legal advisors for the merging entites, i.e. TM hf., Kvika banki hf. and Lykill fjármögnun hf. throughout the merger process, which covered all aspects of the deal, including but not limited to drafting of transaction documents, due diligence, competition matters, tax matters, regulatory issues in relation to the Financial Supervisory Authority and NASDAQ OMX Iceland. This is by far the largest and most high profile merger in Iceland in recent years,involving three different types of financial undertakings, an insurance company (TM hf.), a commercial bank (Kvika banki hf.) and a leasing company (Lykill fjármögnun hf.).

BBA//Fjeldco acted as the legal advisors for the merging entites, i.e. TM hf., Kvika banki hf. and Lykill fjármögnun hf. throughout the merger process, which covered all aspects of the deal, including but not limited to drafting of transaction documents, due diligence, competition matters, tax matters, regulatory issues in relation to the Financial Supervisory Authority and NASDAQ OMX Iceland. This is by far the largest and most high profile merger in Iceland in recent years,involving three different types of financial undertakings, an insurance company (TM hf.), a commercial bank (Kvika banki hf.) and a leasing company (Lykill fjármögnun hf.).

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BBA//Fjeldco provided legal advice to Kvika banki hf. with regards to Kvika's acquisition of all shares in Aur app ehf.

BBA//Fjeldco provided legal advise to Kvika banki hf. with regards to Kvika’s acquisition of all shares in Aur app ehf., and whereas share purchase agreements were executed with all previous shareholders of the company. Aur was established in 2015, offering simple and swift payment services and has in a short period of time built an extensive client base. At the end of February, Aur had 90 thousand active users. The company has been a leading fintech player in Iceland with its mobile payments and innovative approach to consumer lending.  

The acquisition of Aur is an important step in Kvika’s policy of utilizing technological solutions to modernize financial services. The bank expects that Aur, together with Netgíró hf., acquired by Kvika previously this year, and whereas BBA//Fjeldco provided legal advise as well, and the fintech service Auður will play a key role in the bank’s fintech services going forward.   

BBA//Fjeldco provided legal advise to Kvika banki hf. with regards to Kvika’s acquisition of all shares in Aur app ehf., and whereas share purchase agreements were executed with all previous shareholders of the company. Aur was established in 2015, offering simple and swift payment services and has in a short period of time built an extensive client base. At the end of February, Aur had 90 thousand active users. The company has been a leading fintech player in Iceland with its mobile payments and innovative approach to consumer lending.  

The acquisition of Aur is an important step in Kvika’s policy of utilizing technological solutions to modernize financial services. The bank expects that Aur, together with Netgíró hf., acquired by Kvika previously this year, and whereas BBA//Fjeldco provided legal advise as well, and the fintech service Auður will play a key role in the bank’s fintech services going forward.   

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BBA//Fjeldco affirms its leading position with the Chambers & Partners Europe Legal ranking 2021

Chambers Europe, the European guide to leading law firms, has once again ranked BBA//Fjeldco at the highest level within all of the firms main practice areas. Chambers Europe is one of the legal profession's most well reputed rating agencies

See further information:

https://chambers.com/guide/europe?publicationTypeGroupId=7&practiceAreaId=242&subsectionTypeId=1&locationId=109

Chambers Europe, the European guide to leading law firms, has once again ranked BBA//Fjeldco at the highest level within all of the firms main practice areas. Chambers Europe is one of the legal profession's most well reputed rating agencies

See further information:

https://chambers.com/guide/europe?publicationTypeGroupId=7&practiceAreaId=242&subsectionTypeId=1&locationId=109

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BBA//Fjeldco retains its top-tier ranking in Chambers Global 2021

The international guide to leading law firms, Chambers Global, ranks law firms within various legal practice areas. In 2020, BBA//Fjeldco was once again top-ranked within all of the firms main practice areas.

See further information:

https://chambers.com/guide/global?publicationTypeGroupId=2&practiceAreaId=242&subsectionTypeId=1&locationId=109

The internationa lguide to leading law firms, Chambers Global, ranks law firms within various legal practice areas. In 2020, BBA//Fjeldco was once again top-ranked within all of the firms main practice areas.

See further information:

https://chambers.com/guide/global?publicationTypeGroupId=2&practiceAreaId=242&subsectionTypeId=1&locationId=109

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BBA//Fjeldco assists Noona in relation to Salt Pay’s investment in Noona

The start-up company Noona recently secured a 1,2 million EUR or ISK 190 million funding from Salt Pay. With the investment Salt Pay acquired a 20% stake in the company. Noona, which provides an online marketplace for service providers and a booking system, will use the funding to expand its services outside of Iceland.

BBA//Fjeldco’s attorneys Þórir Júlíusson, Stefán Björn Stefánsson and Friðbert Þór Ólafsson provided Noona with legal advice in relation to Salt Pay’s investment in Noona. 

The start-up company Noona recently secured a 1,2 million EUR or ISK 190 million funding from Salt Pay. With the investment Salt Pay acquired a 20% stake in the company. Noona, which provides an online marketplace for service providers and a booking system, will use the funding to expand its services outside of Iceland.

BBA//Fjeldco’s attorneys Þórir Júlíusson, Stefán Björn Stefánsson and Friðbert Þór Ólafsson provided Noona with legal advice in relation to Salt Pay’s investment in Noona. 

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BBA//Fjeldco advises Securitas in tendering process with Veitur

In February 2021 Veitur Utilities, the largest utility company in Iceland, accepted Securitas‘s bid for the installation of 160,000 smart meters for Veitur’s customers. By switching to smart meters Veitur will have access to more information and have better oversight over the utility mains and allows it to charge its customers monthly based on actual energy consumption rather then on estimates. The contract value is c.a. ISK 1,800 million.

BBA//Fjeldco’s attorneys Þórir Júlíusson and Friðbert Þór Ólafsson assisted Securitas in the tendering process and provided legal advice in relation to the documentation of the agreement. 

In February 2021 Veitur Utilities, the largest utility company in Iceland, accepted Securitas‘s bid for the installation of 160,000 smart meters for Veitur’s customers. By switching to smart meters Veitur will have access to more information and have better oversight over the utility mains and allows it to charge its customers monthly based on actual energy consumption rather then on estimates. The contract value is c.a. ISK 1,800 million.

BBA//Fjeldco’s attorneys Þórir Júlíusson and Friðbert Þór Ólafsson assisted Securitas in the tendering process and provided legal advice in relation to the documentation of the agreement. 

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BBA//Fjeldco provided View Software with legal advice in the acquisition of MainManager

In December 2020 the Norwegian company View Software acquired the Icelandic software company MainManager. View Software is a leading software company with solutions within industrial maintenance and management, operation and maintenance (FDV)of real estate. With the acquisition, View Software will expand their customer portfolio to eight countries and open offices in Reykjavik and Copenhagen.

 

BBA//Fjeldco’s attorneys Halldór Karl Halldórsson, Tómas Magnús Þórhallsson and Sigvaldi Fannar Jónsson assisted and provided View Software with legal advice in the acquisition.

 

See further information on https://www.viewsoftware.com/blogg/view-software-acquires-mainmanager-and-expands-to-eight-countries

In December 2020 the Norwegian company View Software acquired the Icelandic software company MainManager. View Software is a leading software company with solutions within industrial maintenance and management, operation and maintenance (FDV)of real estate. With the acquisition, View Software will expand their customer portfolio to eight countries and open offices in Reykjavik and Copenhagen.

 

BBA//Fjeldco’s attorneys Halldór Karl Halldórsson, Tómas Magnús Þórhallsson and Sigvaldi Fannar Jónsson assisted and provided View Software with legal advice in the acquisition.

 

See further information on https://www.viewsoftware.com/blogg/view-software-acquires-mainmanager-and-expands-to-eight-countries

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BBA//Fjeldco óskar eftir að ráða lögfræðing á skattasvið og aðstoðarmann lögmanna

BBA//Fjeldco er leiðandi lögmannsstofa á Íslandi og á sviði fjármála- og fyrirtækjalögfræði. Við óskum eftir öflugum einstaklingum í okkar teymi og í boði eru krefjandi og metnaðarfull störf í alþjóðlegu vinnuumhverfi.

Fyrirtækið er með skrifstofur í Reykjavík og í London ásamt starfsemi í Frakklandi.

BBA//Fjeldco óskar eftir að ráða lögfræðing á skattasvið og aðstoðarmann lögmanna.

// Lögfræðingur á skattasvið


Hæfniskröfur
  • Að minnsta kosti tveggja ára reynsla á skattasviði
  • Reynsla á sviði fyrirtækja- og fjármálalögfræði er kostur
  • Góð enskukunnátta er skilyrði
  • Sjálfstæð vinnubrögð
  • Frumkvæði í starfi
  • Hæfni til að vinna í krefjandi vinnuumhverfi og undir miklu álagi


// Aðstoðarmaður lögmanna


Hæfniskröfur
  • Góð ensku- og íslensku kunnátta skilyrði
  • Góð kunnátta á Microsoft umhverfi(Word og PPT) skilyrði
  • Frumkvæði í starfi
  • Sjálfstæð vinnubrögð
  • Hæfni til að vinna í krefjandi vinnuumhverfi og undir miklu álagi

BBA//Fjeldco er leiðandi lögmannsstofa á Íslandi og á sviði fjármála- og fyrirtækjalögfræði. Við óskum eftir öflugum einstaklingum í okkar teymi og í boði eru krefjandi og metnaðarfull störf í alþjóðlegu vinnuumhverfi.
Fyrirtækið er með skrifstofur í Reykjavík og í London ásamt starfsemi í Frakklandi.

Umsóknir berist á umsokn@bbafjeldco.is. Umsóknarfrestur er til og með 22. janúar 2021.

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BBA//Fjeldco represented Total Specific Solutions in the purchase of all shares in DK Hugbúnaður ehf.

The Dutch company Total Specific Solutions has completed the purchase of all shares in the Icelandic software company DK Hugbúnaður ehf. BBA//Fjeldco represented the buyer during the transaction. The firm’s lawyers conducted a legal due diligence on DK Hugbúnaður and provided the buyer with legal advice regarding the transaction. In addition, they worked closely with the sellers’ lawyers on documentation and closing of the transaction. The transaction is one of the largest corporate transactions of the year in Iceland and among the largest foreign investments in an Icelandic company in a long time.

The Dutch company Total Specific Solutions has completed the purchase of all shares in the Icelandic software company DK Hugbúnaður ehf. BBA//Fjeldco represented the buyer during the transaction. The firm’s lawyers conducted a legal due diligence on DK Hugbúnaður and provided the buyer with legal advice regarding the transaction. In addition, they worked closely with the sellers’ lawyers on documentation and closing of the transaction. The transaction is one of the largest corporate transactions of the year in Iceland and among the largest foreign investments in an Icelandic company in a long time.

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BBA//Fjeldco advises Scottish Equity Partners on its investment in Dohop

On 20 November 2020 Scottish Equity Partners (SEP) completed an investment in the Icelandic travel technology company Dohop. Dohop’s virtual interlining technology allows airlines to seamlessly connect with each other, and with other travel providers, without relying on legacy booking systems and complex and inflexible interline agreements. Travellers can then create an itinerary composed of flight segments from multiple airlines. SEP is a Scottish investment fund which specialises in high growth companies across a range of technology sectors including software and consumer internet. For over 20 years SEP been investing in a range of high growth technology companies with good results.

On 20 November 2020 Scottish Equity Partners (SEP) completed an investment in the Icelandic travel technology company Dohop. Dohop’s virtual interlining technology allows airlines to seamlessly connect with each other, and with other travel providers, without relying on legacy booking systems and complex and inflexible interline agreements. Travellers can then create an itinerary composed of flight segments from multiple airlines. SEP is a Scottish investment fund which specialises in high growth companies across a range of technology sectors including software and consumer internet. For over 20 years SEP been investing in a range of high growth technology companies with good results.

 

BBA//Fjeldco’s attorneys Baldvin Björn Haraldsson, Stefán Reykjalín and Tómas Magnús Þórhallsson assisted and provided SEP with legal advice for its investment in Dohop.

 

See further information on https://www.sep.co.uk/sep-invests-in-dohop/

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BBA//Fjeldco contributes to The Legal 500 Country Comparative Guide

Baldvin Björn Haraldsson, partner, and Stefán Reykjalín, senior associate, contributed to The Legal 500 Country Comparative Guide, a guide providing an overview of M&A laws and regulations in various countries of the world.

Baldvin Björn Haraldsson, partner, and Stefán Reykjalín, senior associate, contributed to The Legal 500 Country Comparative Guide, a guide providing an overview of M&A laws and regulations in various countries of the world.

Here you can read the overview from Baldvin and Stefán for Iceland.

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BBA//Fjeldco gets an impressive ranking as a Top Tier Firm.

In the latest Edition of IFLR100 – The Guide of the World´s Leading Financial Law Firms, BBA//Fjeldco gets an impressive ranking as a Top Tier Firm. We feel honored and grateful for our impressive ranking and remain committed to making continuous improvements to our services and maintaining our position as a market leader.

Here you can read more about their impressive ranking.

In the latest Edition of IFLR1000 – The Guide of the World´s Leading Financial Law Firms, BBA//Fjeldco gets an impressive ranking as a Top Tier Firm. We feel honored and grateful for our impressive ranking and remain committed to making continuous improvements to our services and maintaining our position as a market leader.

Here you can read more about their impressive ranking.

Read more
Webinar on Legal Aspects and Challenges of Geothermal Industrial Parks

Baldvin Björn Haraldsson, partner, and Antoine Lochet, counsel, discussed the Legal aspects and Challenges of geothermal industrial parks via webinar organized by the U.S. Energy Association (USEA) and the U.S. Agency for International Development (USAID)

Baldvin Björn Haraldsson, partner, and Antoine Lochet, counsel, discussed the Legal aspects and Challenges of geothermal industrial parks via webinar organized by the U.S. Energy Association (USEA) and the U.S. Agency for International Development (USAID)

Baldvin and Antoine discussed the legal issues and challenges encountered in geothermal activities, especially in projects involving direct and/or cascade use of geothermal resources. Dividing the topic into two parts they firstly discussed the main legal aspects of geothermal projects including ownership of the resource, access to land, licensing and contractual issues, and secondly presented a case study of the Reykjanes Resource Park project and the legal aspects of that project.

Link to video:

LegalAspects and Challenges of Geothermal Industrial Parks

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Páll Jóhannesson joins BBA//Fjeldco

We are really pleased to announce that Pall Jóhannesson has joined our growing team of legal experts. Mr. Jóhannesson will lead the BBA//Fjeldco specialised tax consultancy office. Tax issues are becoming an increasingly important component of legal advice and Mr. Johannesson and his team will enable BBA/Fjeldco to provide its clients with tax consultancy services of the highest quality.

We are really pleased to announce that Pall Jóhannesson has joined our growing team of legal experts. Mr. Jóhannesson will lead the BBA//Fjeldco specialised tax consultancy office. Tax issues are becoming an increasingly important component of legal advice and Mr. Johannesson and his team will enable BBA/Fjeldco to provide its clients with tax consultancy services of the highest quality.

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BBA//Fjeldco retains its top-tier ranking in The Legal 500

One of the legal profession's most well reputed ratingagencies, Legal 500, has just published its ratings for 2020. Once again BBA//Fjeldco is top rated within all of the firms main practice areas.

Here you can read more about their impressive ranking

One of the legal profession's most well reputed ratingagencies, Legal 500, has just published its ratings for 2020. Once again BBA//Fjeldco is top rated within all of the firms main practice areas.

Here you can read more about their impressive ranking

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BBA//Fjeldco advises Reykjavík DC on an electricity contract with Landsvirkjun for the delivery of up to 12 MW to a new data center at Korputorg in Reykjavík

On 18 December 2019 Landsvirkjun (theNational Power Company) and Reykjavík DC hf., a new high-tech data centre inReykjavik, entered into a power purchase agreement pursuant to which Landsvirkjun shall provide electricity to the data centre up to 12 MW. Theagreement is no. 10 which Landsvirkjun has entered into with a customer whichis defined as a power-intensive user and the agreement is certified as agreen power purchase agreement. That means that Reykajvík DC hf. isprovided with guarantees of origin which confirm that the purchased electricityderives from renewable energy sources.

Lawyers Bjarki Diego and Tómas MagnúsÞórhallsson assisted and provided Reykjavík DC hf. with legal advice during the negotiations with Landsvirkjun.

On 18 December 2019 Landsvirkjun (theNational Power Company) and Reykjavík DC hf., a new high-tech data centre inReykjavik, entered into a power purchase agreement pursuant to which Landsvirkjun shall provide electricity to the data centre up to 12 MW. Theagreement is no. 10 which Landsvirkjun has entered into with a customer whichis defined as a power-intensive user and the agreement is certified as agreen power purchase agreement. That means that Reykajvík DC hf. isprovided with guarantees of origin which confirm that the purchased electricityderives from renewable energy sources.

Lawyers Bjarki Diego and Tómas MagnúsÞórhallsson assisted and provided Reykjavík DC hf. with legal advice during the negotiations with Landsvirkjun.

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European Energy Handbook 2019-2020

BBA//Fjeldco contributed to the European Energy Handbook 2019-2020, published by Herbert Smith Freehills, by writing an overview of the legal andregulatory framework in Iceland and providing information on recentdevelopments in the Icelandic energy market.

The European Energy Handbook provides an in-depth survey of currentissues in the energy sector in 42 European jurisdiction.  This year´sedition covers issues such as the Energy Union, the adoption of the latestpackage of EU energy legislation, and the 'Clean Energy for All Europeans'bundle of directives and regulations updating the EU's energy policy frameworkto facilitate the decarbonisation of the sector and the transition towardscleaner energy.

Recent developments in the Icelandic energy market include the ClimateStrategy, announced by the Icelandic Government in September of 2018, to helpIceland meet its Paris Agreement targets for 2030 and reach the Government´sambitious aim to make Iceland carbon neutral before 2040. Furthermore, Icelandactively participated to the creation of the Global Geothermal Alliance whichaspires to achieve a 500% increase in global installed capacity for geothermal  power generation and a 200% increasein geothermal heating by 2030.

The article was written by Baldvin Björn Haraldsson, partner, AntoineLochet, counsel and Anna Björg Guðjónsdóttir, associate, all of BBA//Fjeldco,Reykjavík.

https://www.herbertsmithfreehills.com/latest-thinking/european-energy-handbook-2019-2020

BBA//Fjeldco contributed to the European Energy Handbook 2019-2020, published by Herbert Smith Freehills, by writing an overview of the legal andregulatory framework in Iceland and providing information on recentdevelopments in the Icelandic energy market.

The European Energy Handbook provides an in-depth survey of currentissues in the energy sector in 42 European jurisdiction.  This year´sedition covers issues such as the Energy Union, the adoption of the latestpackage of EU energy legislation, and the 'Clean Energy for All Europeans'bundle of directives and regulations updating the EU's energy policy frameworkto facilitate the decarbonisation of the sector and the transition towardscleaner energy.

Recent developments in the Icelandic energy market include the ClimateStrategy, announced by the Icelandic Government in September of 2018, to helpIceland meet its Paris Agreement targets for 2030 and reach the Government´sambitious aim to make Iceland carbon neutral before 2040. Furthermore, Icelandactively participated to the creation of the Global Geothermal Alliance whichaspires to achieve a 500% increase in global installed capacity for geothermal  power generation and a 200% increasein geothermal heating by 2030.

The article was written by Baldvin Björn Haraldsson, partner, AntoineLochet, counsel and Anna Björg Guðjónsdóttir, associate, all of BBA//Fjeldco,Reykjavík.

https://www.herbertsmithfreehills.com/latest-thinking/european-energy-handbook-2019-2020

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CLAIRE BROOMHEAD NEW PARTNER AT BBA//FJELDCO LONDON OFFICE

We are pleased to announce that Claire Broomhead has joined BBA//Fjeldco as partner at the London office. Claire has extensive experience in corporate law, M&A, joint ventures, restructuring and general corporate advisory and has worked on many of the largest corporate transactions in Iceland since 2011. Claire has previously worked with Eversheds in the UK,Mallesons Stephen Jaques in Sydney and Logos in the UK.  We are very happy to have such talent joining our team and we are confident that Claire's expertise and experience will boost the  representation of BBA//Fjeldco in London and further strengthen the international capabilities of the firm.

The international qualifications of the BBA//Fjeldco team and the London office, combined with extensive network of international law firms, banks and investment funds, makes BBA//Fjeldco the natural starting point in any business transactions between Iceland and UK as well as other international dealings.

We are pleased to announce that Claire Broomhead has joined BBA//Fjeldco as partner at the London office. Claire has extensive experience in corporate law, M&A, joint ventures, restructuring and general corporate advisory and has worked on many of the largest corporate transactions in Iceland since 2011. Claire has previously worked with Eversheds in the UK,Mallesons Stephen Jaques in Sydney and Logos in the UK.  We are very happy to have such talent joining our team and we are confident that Claire's expertise and experience will boost the  representation of BBA//Fjeldco in London and further strengthen the international capabilities of the firm.

The international qualifications of the BBA//Fjeldco team and the London office, combined with extensive network of international law firms, banks and investment funds, makes BBA//Fjeldco the natural starting point in any business transactions between Iceland and UK as well as other international dealings.

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New experts have joined the BBA//Fjeldco team

Two new experts have joined the team at BBA//Fjeldco, Sölvi Sölvason, attorney and former director of Corporate Banking at Arion Bank, and Thorbjörg Ásta Leifsdóttir, former member of the Competition Law Division of Kromann Reumert in Denmark. With this recruitment we aim to increase our expertise in competition law and further deepen the firm’s specialization and service in the field of corporate finance. 

Sölvi worked as a director at Arion Bank since 2010 and previously worked at Íslandsbanki Bank, Kaupþing Bank and Kaupthing Bank Luxembourg. Sölvi has man years’ experience in working with financial corporations and will oversee a specialized team at BBA//Fjeldco, which will concentrate on financing agreements for the firm’s clients.

Thorbjörg Ásta Leifsdóttir has extensive experience in competition law and in the recent years she has worked with the Competition Law Division of Kromann Reumert, one of Denmark’s leading law firms. Thorbjörg graduated with a BA degree in law from the University of Reykjavik in 2015 and has a master’s degree in law from the University of Copenhagen since 2017.

Two new experts have joined the team at BBA//Fjeldco, Sölvi Sölvason, attorney and former director of Corporate Banking at Arion Bank, and Thorbjörg Ásta Leifsdóttir, former member of the Competition Law Division of Kromann Reumert in Denmark. With this recruitment we aim to increase our expertise in competition law and further deepen the firm’s specialization and service in the field of corporate finance. 

 

Sölvi worked as a director at Arion Bank since 2010 and previously worked at Íslandsbanki Bank, Kaupþing Bank and Kaupthing Bank Luxembourg. Sölvi has man years’ experience in working with financial corporations and will oversee a specialized team at BBA//Fjeldco, which will concentrate on financing agreements for the firm’s clients.

 

Thorbjörg Ásta Leifsdóttir has extensive experience in competition law and in the recent years she has worked with the Competition Law Division of Kromann Reumert, one of Denmark’s leading law firms. Thorbjörg graduated with a BA degree in law from the University of Reykjavik in 2015 and has a master’s degree in law from the University of Copenhagen since 2017.

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1 OCTOBER 2019

We are pleased to announce that the merger of the two leading corporate law firms in Iceland, BBA and Fjeldco, took effect today, resulting in the law firm BBA//Fjeldco.  

The merger creates a first-class, full-spectrum corporate law firm, being the obvious choice when complex and demanding corporate legal services are needed, whether local or international.  

BBA//Fjeldco has over 25 specialized business lawyers, with qualifications in Iceland, England, France and New York. The new firm will have offices in Reykjavik and London, together with operations in France.  

We are pleased to announce that the merger of the two leading corporate law firms in Iceland, BBA and Fjeldco, took effect today, resulting in the law firm BBA//Fjeldco.  

The merger creates a first-class, full-spectrum corporate law firm, being the obvious choice when complex and demanding corporate legal services are needed, whether local or international.  

BBA//Fjeldco has over 25 specialized corporate lawyers, with qualifications in Iceland, England, France and New York. The new firm will have offices in Reykjavik and London, together with operations in France.  

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BBA and Fjeldsted & Blöndal Announce a Strategic Merger

Both BBA and Fjeldco have been legal advisors on most of the largest transactions and projects in Iceland in recent years, such as a number of corporate finance, infrastructure, M&A, real estate, telecommunications and energy projects. The merger is strategic and results in two leading corporate firms joining forces in offering first-class, full-spectrum corporate legal services and being the obvious choice when complex and demanding corporate legal services are needed, whether local or international. The merged firm will be called BBA // Fjeldco, with offices in Reykjavik and London, together with operations in France. The firm will have over 25 lawyers with qualifications in Iceland, England, France and New York.

Both BBA and Fjeldco have been legal advisors on most of the largest transactions and projects in Iceland in recent years, such as a number of corporate finance, infrastructure, M&A, real estate, telecommunications and energy projects. The merger is strategic and results in two leading corporate firms joining forces in offering first-class, full-spectrum corporate legal services and being the obvious choice when complex and demanding corporate legal services are needed, whether local or international. The merged firm will be called BBA // Fjeldco, with offices in Reykjavik and London, together with operations in France. The firm will have over 25 lawyers with qualifications in Iceland, England, France and New York.

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BBA//FJELDCO is ranked as a leading law firm in Iceland by Chambers Global 2019

One of the legal profession's most well reputed rating agencies, Chambers & Partners, has just published its ratings for 2019. Once again BBA//Fjeldco is top rated within all of the firms main practice areas.

One of the legal profession's most well reputed rating agencies, Chambers & Partners, has just published its ratings for 2019. Once again BBA//FJELDCO is top rated within all of the firms main practice areas.

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BBA//FJELDCO publishes an updated Geothermal Transparency Guide

The Geothermal Transparency Guide is now an online tool intended to provide an insight into the legal frameworks governing exploration and development of geothermal energy, as well as an overview of data on energy production and capacity.

The Geothermal Transparency Guide is now an online tool intended to provide an insight into the legal frameworks governing exploration and development of geothermal energy, as well as an overview of data on energy production and capacity.

Currently, 16 countries where geothermal resources are being harnessing or are available for harnessing, are featured in the online database, with further countries to be gradually included. The aim of the publication is to provide a useful insight into certain aspects of the applicable rules governing geothermal energy in these countries. Such insight can be of importance for the purposes of increasing transparency and awareness of some of the rights and obligations governing applications for licenses to explore, exploit or produce electricity from geothermal resources.

https://lnkd.in/ewtPs8i

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BBA//FJELDCO  is top ranked with IFLR1000

In the latest Edition of IFLR100 – The Guide of the World´s Leading Financial Law Firms, BBA//Fjeldco gets an impressive ranking as a Top Tier Firm.

In latest Edition of IFLR100 – The Guide of the World´s Leading Financial Law Firms, BBA//FJELDCO gets an impressive ranking as a Top Tier Firm.

Here you can read more about their impressive ranking.

Read more

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