Bernitsas Law is winner of two prestigious awards at the International Financial Law Review (IFLR) Awards 2022 Europe:
- GREECE LAW FIRM OF THE YEAR
- SECURITISATION AND STRUCTURED FINANCE DEAL OF THE YEAR
The IFLR’s Editor of Awards Research Jamie Rayat said, “Bernitsas Law are once again the winner of the Greece Firm of the Year at IFLR’s Europe Awards. The firm put in a first-class performance across the board in 2021, most notably in debt and equity capital markets, M&A, project finance and structured finance and securitisation practice areas. Strong work from the firm noted by IFLR's awards research team included advice on the Project Zeus Public Power Corporation securitisation. The deal was named as the winner of the securitisation and structured finance deal of the year category. It is considered by IFLR's research team to be among the most innovative cross-border deals of the year in Europe."
He went on to say in relation to Bernitsas Law’s Securitisation and Structured Finance Deal of the Year win: 'Bernitsas Law played a key role on the Project Zeus Public Power Corporation securitisation, which was selected as IFLR’s most innovative securitisation and structured finance deal of 2021. Bernitsas Law’s team demonstrated an impressive performance on this deal, where they advised on the structuring and Greek law aspects of the securitisation. The team represented American investment management firm PIMCO on this transaction."
Panayotis Bernitsas, Managing Partner of Bernitsas Law, said: “We are honoured to have been awarded for the third time in four years for our achievements in the areas of corporate and M&A, banking, finance, capital markets and projects by the leading corporate finance publication, the IFLR. This is a recognition of our consistent involvement in the transactions leading the Greek market and paving the way for investment and growth. I am proud that our corporate and finance teams, led by Athanasia Tsene, Nikos Papachristopoulos, Yannis Seiradakis, Lambros Belessis, Evi Kitsou and Dionysis Flambouras have been distinguished for taking a lead in finding innovative solutions and creating pioneering legal structures. Particular congratulations are due to Athanasia and her team for their pioneering work on the Zeus Public Power Corporation securitisation.’
Partner Athanasia Tsene said: ‘The award for Securitisation and Structured Finance Deal of the Year recognizes our work as Greek counsel to PIMCO on the Project Zeus Public Power Corporation securitisation, which marks the first European securitisation of receivables from electricity invoices in arrears. The deal is innovative in that, drawing on elements of credit card and trade receivables, it accommodates the payment and reconciliation procedures applied by PPC to electricity invoices and brings together two distinct portfolios of electricity invoices through a revolving mechanism and a complex intercreditor agreement. This allows PPC to raise financing and tackle bad debt. A further most important feature of the deal is that it represents a new asset class in the context of the current global energy crisis.’
About the IFLR
The IFLR is a leading industry publication, which analyses the global legal market and delivers credible insight and accurate intelligence on corporate finance trends and strategies.
About Bernitsas Law
Bernitsas Law is a market leader in the provision of commercial law services in Greece and one of the largest firms in the country.