Understand Your Rights. Solve Your Legal Problems
Arabian Contracting Services Company (Al Arabia), a Saudi listed company, acquired the entire share capital of Faden Media and Advertising Company (Faden Media) for SAR 1.05 billion. The transaction represents an extension of Al Arabia’s growth strategy, forming profitable local and regional partnerships to maintain its market-leading position. Clyde & Co acted as lead counsel to AI Arabia, with a cross-practice and cross-jurisdictional team led by corporate partner Rizwan Osman.
“We are delighted to have supported Al Arabia on this strategic growth transaction. Acting as lead external legal counsel, our effective collaboration and extensive experience enabled us to reach a successful outcome on this complex transaction.”
Factory Systemes group, a French company active in the development of IT services acquired a majority share capital of Wonderware, a company functioning in the market for development and sale of computer systems and industrial software solutions. This acquisition set Factory Group up to serve over 9800 customers in Europe and over 400 System Integrators.
A team of professionals from the law firm, Genesis Avvocati, led by its partners Fulvio Di Domenico and Stefania Pezzini, assisted the three shareholders of Wonderware in the sale of their shares to Factory Systemes group. Genesis Avvocati is headquartered in Milan but through its team of highly specialised experts in business and financial consulting operates in Italy and internationally assisting its clients through a clear and incisive problem-solving approach.
“The role of the lawyer is not only technical but also a relationship of trust. This principle was also confirmed in this case where in 2019 our firm assisted the partners of Wonderware Italia in their purchase of the company shares and, again, we were at their side in the negotiation of this delicate transaction of the sale of their shares to Factory Systemes Group”.
Q&A with Stefania Pezzini
Can you walk us through the professional role you and your team played during this deal and the responsibilities you undertook until the completion of the acquisition?
While one of the shareholders of Wonderware has sold all the shares held in the company, the other two shareholders have in this first phase sold only a part of their shares in the share capital of Wonderware, in which they have retained a role of directors, with the aim of contributing to the further growth of the company. During the negotiations, we were concerned - on the one hand - with very clearly defining the perimeter of the responsibilities assumed by each of the sellers with reference to their respective shares and the obligations assumed by the company, and - on the other hand - with regulating the more complex aspects of the role retained by the two shareholders within the company and the backup solution of exercising the put/call options reciprocally granted by them and the acquiring company.
What form of support does your team provide your clients once the agreement has been made and does this impact the success of the business once they sell?
Our team of professionals is able to create strong alliances with the clients it assists in every transaction, becoming true partners aiming for the same result. This very practical and straightforward approach makes us ideal partners for our clients also in sharing, defining, and executing post-closing strategies aimed at ensuring the maximisation of the investment.
As partner at Genesis Avvocati, how do you think projects like this support the law firm’s growth and how does supporting other businesses develop align with your firms’ ideals?
This project was a further opportunity to highlight the professionalism of our firm and the ability of our professionals to work alongside the entrepreneurs to identify the best possible solution to achieve their goal, which constitutes the hallmark of Genesis Avvocati.
As the head of the Real Estate Department for Studio Genesis Avvocati, how do you ensure to cater differently to each client and having experience with various acquisitions and more does your process significantly alter for each one you take on?
Each real estate transaction in which we provide assistance, involving virtually every kind of investor and every type of property, has its own peculiarities. These certainly require the ability to construct and negotiate each transaction precisely on the basis of its characteristics. This is done by deploying different specific skills that the professionals of our firm have acquired also thanks to an extensive experience in this field.
David Pierce, a private investor has invested in Dave Jessop Ltd, a Yorkshire industrial roofing and sheet metal fabrication business. Dave Jessop is a family-run business specialising in industrial, domestic and agricultural markets. They provide products to their local area as well as to a wider UK market. This acquisition is set to see Dave Jessop Ltd thrive under David Pierce and his team lending their invaluable skills to grow the business. Mackrell Solicitors provided legal advice to the sellers of this acquisition.
“More than just the transaction.”
Q&A with Guvvy Sandhu (GS) and Chris Lane (CL)
Could you describe the role of Mackrell Solicitors in the acquisition of Dave Jessop by David Pierce and the key contributions you and your team made to this transaction?
- Guvvy Sandhu is an experienced corporate lawyer and together with the team at Mackrell made sure that a key focus was more than just helping clients with receiving an investment.
A corporate transaction (regardless of its nature) always begins with two key questions:
The nature of these questions means that the negotiations and related paperwork is then crafted around the responses to these questions and ensure that the commercial reasons for the transaction itself are the forefront.
If such questions are absent then the risk is that a transaction becomes mechanical and not client focused.
What made Mackrell Solicitors the best suited team to work with Dave Jessop on this acquisition?
- The responses to this question could be the basis of its own article!
With a wealth of experience in deal structuring and advisory, the team at Mackrell solicitors were able to guide our clients as to what is relevant and what is not. This ensured a seamless and efficient negotiation as all parties were concentrated on the transaction specific item and not, “A negotiation for the sake of a negotiation.”
Early stage due diligence – the team at Mackrell always review due diligence from both the perspective of an investor and target business so that any potential areas of discussion and opportunity can be considered and managed at an early stage.
This meticulous approach empowers all parties with the knowledge to make an informed decision from the beginning. This in turn supports the parties in intentions to look beyond completion and into the future as partners.
How do you manage the relationship between your client and the investor and how does this impact the success of the project?
- It is always key to explain to clients that their commercial relationship with their investor should remain at the forefront of the process. The transaction does not stop at completion. Both parties have made a commitment to the future in terms of either a return on their investment or a prospective return on an investment.
What kind of support post deal do Mackrell Solicitors provide its clients such as, Dave Jessop and how is this critical for the business’ success?
- As a full service law firm we ensure every client has the opportunity to benefit from the full extent of our services. What this often means for our corporate clients, post deal is an introduction to our private client team, enabling the client to create or adjust their will and lasting power of an attorney.
For client needs beyond legal services we have a tried and trusted network of professional service providers in the world of banking, accounting and wealth planning that we can call upon to build a team of advisors saving time and money from a client perspective.
Leading renewable energy tech company Solivus is set to install their light-weight solar panels at Farnborough Airport, which will be one of the largest solar installations in the South East. The panels will cover roof space such as the airport’s curved hangar roof and aim to generate 25% of the airport’s total electricity, also enabling its vehicles to be charged using self-generated energy. The climate tech company, Solivus, who are pioneers of a light-weight solar market worth billions, was supported with legal advice from Foot Anstey.
Q&A with Mark Greatholder, Legal Director at Foot Anstey LLP
Please explain the professional role your team had in advising Solivus on this project?
I lead the Commercial Energy team within the law firm Foot Anstey's broader Energy, Projects, Infrastructure and Construction team.
As you might expect, we are heavily immersed in the Energy & Infrastructure sector - a sector specialism for the firm. For almost a decade, we have been growing our reputation as a leading provider of specialist legal advice on solar, storage and other low-carbon energy projects. We have helped clients develop over 150 utility-scale solar and battery storage projects in the UK and overseas, including roof-top solar portfolios, co-located assets and up to DCO-scale projects.
As a team we work with clients across the whole development lifestyle of their clean energy projects. This includes securing land rights, obtaining planning consents, establishing joint development agreements, construction and operation, routes to market (including power purchase arrangements) and grid connections, right the way through to contract management and dispute resolution. Demonstrating our strength in a competitive market, we are one of just a small number of legal firms ranked in the Legal 500 Green Guide.
Solivus instructed us to provide legal support on their Farnborough Airport solar panel project. Our brief was to assist the brilliant Solivus team with establishing the project documents needed to enable them to start installing their fantastic lightweight solar solution on the airport’s curved hangar roof, which they are set to do next year.
From your experience working on projects which promote a positive environmental impact and with your expertise in clean energy, what was different about this project compared to other projects that you are involved in?
I am incredibly fortunate to work in a sector where I can support clients to deliver their clean energy and sustainable mobility projects. There are some passionate and innovative people and organisations out in the market doing remarkable things to promote positive environmental impact.
Solivus is one such organisation that we are proud to work with. The team at Solivus is on a mission to decarbonise the built environment with their innovative light-weight solar solutions that can be installed on buildings unsuitable for conventional solar solutions, either due to weight, planning, or aesthetic issues.
All clean energy projects are unique and give rise to their own set of legal issues that we help our clients navigate. On this project, the Solivus team will be helping Farnborough Airport reduce its own carbon emissions and become more self-sufficient in terms of its energy demands. Without organisations like Solivus innovating to create solutions like this one, energy intensive buildings such as the ones at Farnborough Airport would have to look at other options, such as identifying suitable land for the installation of ground-mounted solar panels or using other forms of renewable energy.
All businesses need to be looking at their sustainability agendas and many organisations in the built environment are already exploring some form of decarbonisation projects. We work with a lot of clients operating within a range of different market sectors, including retail, developers, water and waste and national charities on these projects, so solutions like the ones being offered by Solivus have a broad application and should be of interest within the market in general.
What were some of the challenges you faced during this project with Solivus and how did you and your team effectively manage this to find a solution?
From a practical perspective, the critical issues for the parties were not unusual and were focussed on agreeing the programme for the installation works to be carried out, which aligned with Solivus’ ability to complete the works on time and within the airport’s required timescales. This included considering the impact that any adverse weather might have on the programme for delivery. Once the panels are installed, the parties were interested in ensuring the panels were operated and correctly maintained to maximise energy generation and minimise the risk of equipment failure, a drop in generation or other reactive maintenance needs.
As legal advisers, our role was to support the Solivus team by providing strategic, commercially astute advice on the contracting structure and the drafting and negotiating of a clear and manageable contract with the proper pricing structure, incentivisation, risk allocation, and project controls to enable successful project delivery.
Can you talk us through how you and your team were able to come to a conclusion with Farnborough Airport while supporting your clients wishes?
At Foot Anstey, our motto is ‘Powering your ambition’ because we see our role as helping our clients achieve their goals faster and unlock new and exciting opportunities for success.
One of our core values is to be 'Refreshingly Human' in all we do. We want our clients to work with a committed partner who will get to know its business operations, culture, and preferred ways of working. We also regularly get positive feedback from counterparties on projects who comment that we genuinely take a collaborative approach to achieving results.
We pride ourselves on seeing the bigger picture and understanding what the true commercial drivers are for each of the parties in a project so that we can help address any concerns sensibly and pragmatically. By taking time to understand what issues were important for both Solivus and Farnborough Airport, we were able to address those concerns in a way that didn’t create any unwanted or unintended challenges for either party.
Our sector knowledge was also a key reason we were able to successfully support this project. We have significant expertise, experience in the clean energy sector, and understand the current market trends and how other projects are managing and mitigating against certain project risks. This allowed us to bring a lot of knowledge and insight to the table. Our renewable energy expertise, together with our deep understanding of the Solivus business, enabled us to empower the Solivus team to have positive and informed discussions with Farnborough Airport.
It helped that Solivus and Farnborough Airport were aligned in what they wanted to achieve, so our job was to help them get to where they wanted as efficiently as possible. The end result was extremely positive for both parties. I was also supported by a great team – Senior Associate Aliki Zeri and Solicitor Liam Henderson both played a pivotal role assisting the Solivus team. A lot of credit must also go to Solivus themselves, who were ultimately responsible for success in landing this important project with Farnborough Airport.
What motivates you to take on sustainable projects like this one, and is this something valuable for Foot Anstey in terms of growth?
The energy and infrastructure markets touch and concern every aspect of our businesses and daily lives. The UK’s energy requirements are high on the government’s agenda, with policy under constant review, making for a continuously transitioning market. The pressure posed by net zero targets and climate emergency declarations, the rapid decentralisation and digitalisation of the sector, changes or removal of subsidies, and the emergence of new transformative technologies all require a strategic response.
In the face of these challenges, it's exciting to see the emergence of multi-faceted projects involving renewables, battery storage, and EV charging that are considering the increasing importance of data in energy applications. It is, therefore, extremely easy to get motivated about supporting clients with their sustainable energy projects – it's not only an exciting sector to work in, but you know that by doing so, you are helping to contribute to a greener future.
In addition to acting for businesses where energy generation projects are part of their core business operations, I also get to work with a range of businesses operating across a number of different sectors, such as retail and leisure, developers and utilities, so by having a specialist Energy, Projects, Infrastructure and Construction team at Foot Anstey is extremely beneficial for us to be able to support other clients that we work with as a firm, where clean energy generation and other sustainability projects might not be part of their core business operations.
Being a responsible business is essential to Foot Anstey, including investing in a brighter future for our environment. We continuously review the sustainability of our business operations to set ambitious targets for improvement. Like Solivus, as a firm, we are passionate about contributing to the green economy and decarbonisation of the built environment, and we're delighted to have supported such an innovative company with this project.
It's evident that sustainable energy is the future and that's why having a robust and specialist energy sector team at Foot Anstey will play a very important part in the firm’s future growth.
There is no single way to relieve us of all our stress and worries, however, there are ways to provide some relief. Science has found a way to help us relax and focus through gadgets we can use quickly and even some we can wear throughout the day or night. These gadgets are only effective if you use them consistently and allow yourself to start feeling the effects as your brain learns to calm down.
Bringing science and meditation together to provide you with a way to reduce stress levels, increase focus and improve your quality of sleep, these gadgets are popular with many. Working in the legal industry is known to raise stress levels but with these gadgets you could begin your journey to tranquillity even when you’re in the office.
Whether you have a day off, only a 10-minute break or a day filled with important meetings these gadgets could work for you as they are designed to make it easy for you and not add to your to-do list.
This a device you can wear as a headband during the day or night to help you wake up feeling calm and refreshed. Using EEG technology muse will accurately track your brain activity whilst in use including heart rate, breathing and audio feedback can be accessed via the app.
This headband is built to be comfortable so it can be worn for long periods so it can train your mind to focus on calming. If it senses your mind is distracted it will play sounds such as rain and wind to recentre you. Once you are calm and relaxed it will play soothing nature sounds which lets you know you are in a calm state. By allowing yourself to focus your brain can stop racing and learn how to de-stress.
Wearing this in the office may get a few looks but you won’t even notice when you’re that calm.
This is a stone-shaped device that you can start feeling the effects of quickly. Lay it on your chest where it will emit vibrations to help you relax. Sensate was made and tested in the UK and has quickly become a popular tool to relieve tension.
Using Infrasonic resonance and soundscapes, this device activates the Vagus nerve which then calms the brain medulla which is responsible for stress and anxiety.
Whilst Sensate cannot be worn for long periods of time it has almost immediate effects and so is suitable if you are on a busy schedule and can only get a 10-minute break to use it.
This is a small portable device which is great if you are often on the go. CalmiGO can help you to learn breathing techniques and prolonged exhalation. You breathe into the device and receive feedback on whether you need to take longer breaths or not. Using scents from natural oils as you breathe in a scent of your choice to help with relaxation.
The device boasts effective results within 3 minutes of using it with no side effects. In moments of intense anxiety, panic attacks and PTSD this device will help you to relieve your stress and continue with your day without a hitch. CalmiGO helps to activate the parasympathetic system which is the ‘calming’ nervous system and will reduce your stress.
This is a wearable device for a comfortable wear all day, it can either be worn on your wrist, ankle, or clipped onto your clothes. This device was brought to us through neuroscience research at the University of Pittsburgh. Being able to wear this device allows you to always have it on, even in meetings.
Research for Apollo Neuro shows that on average this device will help users feel 40% less stress and less feelings of anxiety, an 11% increase in HRV, up to 30 more minutes of sleep at night and 25% more focus and concentration ability.
The vibrations from this gadget are soothing to rebalance the nervous system. They recommend using it 3 hours a day for 5 days a week. With this one, the more you use it the better it will work for you as your body learns to regulate and you will regain control of your stress reactions.
If gadgets aren’t your thing and you want to learn ways to relieve stress yourself then read our 5 essential tips to help you cope with workplace stress and regain your balance.
The impact on mental health is a leading reason for lawyer’s stress and with a lack of work/life balance it isn’t hard to understand why the profession is noted as one of the most stressful.
It is important to create ways you can deal with stress and you learn how to maintain your mental health even when the workplace makes it difficult.
Here are 5 ways that you can learn to reduce your stress.
Set Boundaries and set aside time for yourself
It can be difficult to set boundaries at work where people are constantly asking you for answers and reminding you of deadlines. Setting boundaries gives you the space to take care of your mental health, which can, in turn, boost job satisfaction, morale, and a sense of unity with colleagues.
Setting boundaries can help improve your work-life balance, which is a major contributor to workplace stress.
Boundaries can include no messages or calls to your private number or after a certain time. This will tell your colleagues that you are prioritising your home life and this can easily restore a sense of freedom once you leave the office.
Another could be carving out time for a proper lunch break during the day, even if that is just 15 minutes. Having a quick break can rejuvenate you for the afternoon and allow you time to clear your head, leave the office if necessary.
Continue with your hobbies or start a new one
Assigning time to your hobbies can help your mental health as they give you a feeling of who you are when you try new things and improve. Whether you enjoy athletic hobbies or creative ones there will be something out there that you will enjoy and want to work on outside of work to take your mind off of the stress. Learning new skills can challenge your brain and keep you stimulated, which has great long-term benefits.
Starting a hobby could also be a great way to meet new people, join a class or a group who are trying the same thing allows you to build new relationships. Having people outside of work is vital to your mental health so you can enjoy the company whilst doing something that you enjoy and which relaxes you.
Set personal goals
Your personal life might be taking a hit when you work in the legal industry but it is important to take time to reflect on what else you want. Remember that you are more than your job and there is more you can do. Setting goals that are not about your career can recentre you and help you find a balanced life.
Goals can be big or small so you feel like you are doing more than going to the office and returning home. Set a goal to see your friends and family more often, to start that club you’ve been talking about, and to stop drinking coffee every day. The goal should be all about you, not a client or a boss in sight.
Exercise
This is an obvious one but definitely deserves a mention as we all know the advantages. Exercise stimulates the production of endorphins and reduces stress hormones which then make us feel more relaxed. Exercise can also improve our sleep at night and therefore allowing you to feel rested and restored for the day ahead. Whether it’s going to the gym, playing a sport, or going for a walk, exercise can be instrumental in reducing stress.
There are ways to squeeze exercise into a busy schedule. Try out a standing desk and put a foldable treadmill below so you can get a walk in without leaving your desk on busy days. Walking instead of driving where you can so you can get fresh air. If you can, try to fit in a quick workout like yoga into your morning routine so you start your day relaxed and with a sense of achievement before stepping into the office.
Utilise the legal tech or aid offered to you.
The rise of technology not only improves client satisfaction, but it can also help cut down the workload for lawyers and, therefore, diminish the stress of a long to-do list. Technology is being implemented more and taking over administration jobs, which in the past had taken up a lot of time for lawyers.
Not only can technology reduce stress by taking on tasks, but training programmes and workplace development can also become more accessible. With training comes a sense of improvement for the individual and this can decrease anxiety at work, especially for anyone joining a new team or career. Technology can help to reassure people that they have options to improve and make sure they are absolutely confident in their position too. By taking advantage of all the aids you have around you, work life can become much less stressful and you could have a stronger sense of control over your tasks.
Keep updated with Lawyer Monthly to find out what gadgets you can use for stress relief.
Alderan, the management company, has been strengthened through the acquisition by Activlmmo of various industrial and logistics assets. Activlmmo recently acquired an asset in Guadalajara for around EUR 9 million. M&B Abogados advised Alderan throughout this acquisition, as they have done since 2018.
“We conceive our commitment as going far beyond transactional legal support, as we also act as ‘interpreters of mentality’ and comparative law experts for our non-Spanish clients”
Q&A with Virginie Molinier
Can you tell us more about this project and what role you and your team at M&B Abogados played in its completion?
Since they decided to expand their activities in Spain (i.e., in 2018), we have been advising the strategy asset management company, Alderan and its real estate investment trust, ActivImmo. This real investment fund specializes in logistics assets, and its presence in Spain has been greatly strengthened between 2022 and 2023 with the acquisition of various assets throughout the country.
The latest transaction on Iberian soil in which we assisted ALDERAN was the acquisition of an asset in Guadalajara (Castilla la Mancha) for approximately €9 million. We are particularly proud to have supported such a prestigious and successful company throughout the acquisition process, which ranged from an in-depth due diligence process to the negotiation of all the contractual documents.
We conceive our commitment as going much beyond transactional legal support, as we also act as a “mentality interprets” and comparative law experts for our non-Spanish clients; we take pride in fostering enduring relationships by guiding our clients seamlessly through the entire acquisition process, and through all the subsequent post-closing steps.
In what way does this operation reflect the core features of your business?
M&B Abogados specializes in international business law, with a strong real estate practice. We are a boutique law firm, with all the “traditional” departments: M&A and corporate, employment law and tax law. We have also developed our administrative and urban development law areas, mainly in support of our M&A and real estate practices.
In Spain, our core business centers around assisting foreign investors with their expansion in the country. We perform many real estate transactions, in a country where the role of the lawyer is essential in every step of the transaction, much more so than in other countries where Notaries are more proactive. Our target are mid-market deals, and we principally act on behalf of buyers that are either real estate trusts, real estate investment companies, family offices or, less frequently, individuals.
In such operations, we build a team of lawyers with different specializations and different levels of experience. For the last few years, we have been using project management methods and digital tools to increase the efficiency of the team by facilitating internal and external communication, the interdepartmental handling of legal issues, meeting deadlines and respecting the level of fees agreed with our clients. These methods allow us to adapt our work, our strategy, and our role to the specifics of the deal and the expectations of our clients. We have also developed the capacity of the firm to deal with several transactions at once, and to diversify our offer.
However, we also advise on more traditional M&A and corporate transactions in diverse sectors as biotech, media, digital economy, energy, food, and beverages, and so on. In these transactions, we obviously use the same principles to provide our clients with the same level of efficiency. But I’ll tell you more about this aspect of our practice when we focus on a future non-real estate transaction.
How do you see the profession of lawyer?
At the heart of our commitment is the utilization of legal tools to serve our clients' operational objectives, and the understanding that we lawyers have a non-negligible but non-fundamental role as advisors. Our clients are businesspeople who take their decisions based on many different factors. I am convinced the lawyer must facilitate the decision-making by indicating the risks, if any, showing the easiest way from a legal perspective, drafting the necessary contracts, and leading the negotiations.
We are at our clients’ side, not in front of them, and not behind. In my opinion, one of the main qualities of a lawyer is attentive and proactive listening. To our clients, of course, first and foremost, but also to the other actors in a transaction. Listening leads to understanding and understanding provides clues to beneficial agreements.
I am also conscious that lawyers are service professionals, and that our clients are totally entitled to expect a top-quality provision from us, with an ever-open communication channel, written documents that are practical, to the point and legally sound, along with solid common sense and an understanding of the business environment. As our clients’ long-lasting partner, I need to have a thorough overview of their specific activity; not only of the sector they work in, but also of the specifics of their relations with their financial partners, different stakeholders, etc.
In our profession, every case is unique, and we must adapt our strategy and methods to the never-ending complexity of life. That is why it is such an intellectually stimulating and gratifying profession.
MB Attorneys – MB Attorneys – Law firm
Virginie Molinier – MB Attorneys
CO.BO.T. is an Italian company founded in 1990 and is now recognised as a winding specialist across Europe. Brush Group has acquired CO.BO.T aiming to increase its production capacity in order to support the expansion of the UK electricity grid and consolidate its presence in the European market. Alberti Fontana Peron Cera (AFPC Società tra Avvocati) assisted the sellers for the legal aspects of this transaction with partner Francesco Fontana assisted by Giorgia Micheletto and Claudia Berto.
Q&A with Francesco Fontana
Please elaborate on the specific role of Alberti Fontana Peron Cera (AFPC Società tra Avvocati) and the tasks you undertook as part of your responsibilities to assist in this acquisition.
I am founding partner of Alberti Fontana Peron Cera (AFPC), a Law Firm based in Italy (about 40 people) that mainly deals with corporate and commercial law and advises Italian and foreign companies in M&A operations, reorganization and corporate restructuring.
I am head of the corporate law department. In CO.BO.T acquisition, I advised the sellers in the sale of the Target shareholdings, supported by the associate lawyers Giorgia Micheletto and Claudia Berto.
Can you explain what your process of conducting due diligence for an acquisition and do you typically adapt the process to suit each individual client, if so how do you ensure a thorough assessment whilst catering to the client?
When on the seller's side, it is essential to examine and collect any information that could have a detrimental effect on the process of selling the shareholdings or that, in any case, could be or become an obstacle or a slowdown in the transaction.
The objective is to foresee and settle – to the extent possible prior to the execution of the share and purchase agreement – the occurrence of events which (otherwise) would constitute one or more conditions precedent. In this way, sellers enter the transaction with greater serenity and clear visibility of the timing for the implementation of the transaction.
When navigating any complexities that arise during a project of that kind, what are challenges you might encounter and how do you and your team commonly address it?
In numerous transactions, you acknowledge that a prerequisite is of separating - before the execution of the deed of transfer - some real estate or other assets and to remove or fix some shareholders (other than the sellers) from the corporate structure by liquidating their respective positions.
A similar result can be mostly achieved in various ways, by example, such as through an asymmetrical demerger, a direct sale of assets and debts (or a contribution in kind) on a going-concern basis or through a conventional corporate withdrawal with facilitated assignment of properties and with the take-over by the withdrawing members of the debt pertaining (if any) to the carved-out assets.
Having worked for AFPC for quite some time now, what is the value your team brings to your clients and how is this unique to stand out from other law firms?
AFPC’s value entails in the human capital and in the relentless synergy between the departments of my Law Firm (corporate law, intellectual property law, labor law, criminal commercial law), which allow us a material and swift assessment, cross-cutting on the legal issues that, from time to time, we face and overcome in corporate transactions.
Funding into PrediSurge allows for technological advancement.
Bremens Avocats was pleased to support investors LIFTT S.p.A., Crédit Agricole LHL Capital Innovation and UI Investissement - Metropoles Innovations in their investment in PrediSurge.
PrediSurge is a French company committed to developing a precision medicine platform for cardiovascular interventions. They aim to progress the safety of endovascular procedures providing numerical tools to physicians and Medtech companies.
This investment will push the growth for PrediSurge exponentially including expanding their international presence. This will increase sales allowing the company to broaden their audience of professionals to overall increased patient outcomes.
PrediSurge want their technology to be accessible to a vast majority as they dedicate this funding into their predictive software.
LIFTT S.p.A., Crédit Agricole LHL Capital Innovation and UI Investissement - Metropoles Innovations funds all across technologies and their main purpose is to support the development of commercialisation.
PrediSurge achieved a 6.5 Million Euro investment which will propel their technology drastically.
The legal advisory team included Bremens Avocats.
Technology has become an integral part of every business, and the emergence of generative AI is becoming an effective tool. The legal industry is incorporating AI to boost productivity as well as client satisfaction. In The Lawyer UK 200 report, 57% of firms in the survey said that their AI implementations have been successful so far.
All About Law has estimated that 23% of a lawyer’s time can now be automated with the use of new technology so they are saving 2 hours out of a 10-hour working day. Research from the University of Oxford found that over half of lawyers are now using some form of AI, and this will only grow in the coming years.
“The worldwide Legal tech market is expected to reach $37.9 billion by the year 2027.” - ifourtechnolab.
Law firms setting an example.
Allen & Overy led the way for law firms by integrating their innovative AI platform, ‘Harvey’ which can perform in multiple languages, generating quality legal content. The platform uses natural language processing, machine learning and data analytics to automate several aspects of legal work. Harvey can work on, contract analysis, due diligence, litigation, and regulatory compliance.
It was announced that Macfarlanes is the second law firm to invest in Harvey allowing 650 lawyers at the firm to have access to Harvey’s technology. They began by using Harvey for research tasks, analysing, and summarising documents and creating first drafts of emails and memos. The firm also stated that their lawyers will be reviewing the work that Harvey produces.
It won’t be long until more firms implement Harvey into their own process in order to save time and improve their client relationships.
Technology as a tool
The obvious one is AI as already mentioned such as, Harvey. AI includes Chatbots and natural language processing (NLP). Chatbots allow clients to receive quality information at all times, something a lawyer would never be able to accomplish in the same way. In 2023, Chatbots set the record for the fastest growing consumer application of all time. The introduction of Chatbots and NLPs is being used in the legal industry for client interactions to provide 24/7 support for legal queries. This improves the service given to clients and also allows attorneys to focus on complicated cases.
Blockchain technology is a valuable database making its way into the legal industry providing high-level security. This technology enhances data security whilst ensuring the integrity of legal transactions. Having this technology at your law firm could increase the safety of client information all while enabling seamless communication. With the substantial risk of cyber threats on law firms, 2024 could be the year of blockchain, easily securing client confidentiality.
VR and AR are changing the legal argument. Virtual reality (VR) is being used to recreate crime scenes and accident sites providing judges and juries with an immersive experience they can understand. Augmented reality (AR) makes courtroom presentations more engaging for the jury by overlaying digital information onto physical exhibits.
As reported by Grand View Research, the VR and AR market is expected to reach $597.54 billion by 2030.
AI will not replace you.
It has been a concern that the development of AI would mean a loss of jobs in many fields. For the legal sector, this should not be a fear as AI has not taken over it has been integrated as a tool for the team. More opportunities have opened up as firms need someone to overlook the technology and ensure the software is running correctly. AI has been introduced to ease the life of the lawyer, reducing labour-intensive work. The concern should not be with the technology it should be with other lawyers who are efficient with technology as employers will increasingly be seeking those who are tech-savvy.
Using the latest technology can actually increase the talent that the firm can hire. The top talent in the industry wants to work somewhere where the administrative tasks are at a minimum and that means using technology as a tool.
What to expect
With the use of AI reaching a high in 2023, it will be no surprise that its popularity will increase in 2024. More law firms will be introducing innovative technology and utilising them to their full potential. It will be a top priority to maintain quality and security whilst using these devices and new ways to ensure this and the proper use of the technology will be high on the to-do list.
More lawyers will have to be comfortable making use of technology in their day-to-day work life and be trained on how to get the most out of it. The use of AI in the legal industry will become widespread practice transforming the way lawyers can work.
