The Madrid legal market remains in transition, say the capital’s lawyers. The past year has continued to be challenging, but firms have begun to put into effect strategies that they hope will see them overcome the economic downturn and leave them stronger, more streamlined and efficient for when the upturn comes.
The economic pressures impacting on Spain are helping to change the focus of administrative and public law issues facing many investors and to concentrate more decision-making on the capital, says Jesús Avezuela, Managing Partner of the Madrid office of Broseta.
Lawyers have to recognise where the value lies in a transaction and to adapt their services according to the market and client need
In light of important and key legislative changes affecting the development of renewable energy projects in Spain, and current negotiations between the Spanish Government and energy companies over the reduction of feed-in tariffs, there has been an intensified focus on structuring and refinancing projects and M&A transactions, says Israel Gómez-Caro, partner with boutique Gold Abogados.
Law firms futures are inextricably tied to their clients’ own relative success and the focus currently must be on sharing the pain
The economic downturn may not be changing fundamentally the way businesses approach litigation or arbitration but it is impacting on the nature of the disputes arising
Spain is experiencing a relative upturn in private equity activity, says Juan Picón, Managing Partner of DLA Piper in Madrid. Although the economic outlook remains tough there is however now emerging a closer alignment of buyers’ and vendors’ expectations.
In 20 years, Martifer has evolved from a domestic Portuguese metallic constructions company to a global construction and energy business, with operations around the world
Continental graduates may have superior technical legal knowledge than their Anglo-Saxon counterparts but their commercial know-how is vastly inferior, believes Jorge Bleck