Taking a pragmatic approach to business – pbbr

With the Portuguese Government in turmoil and the economy facing its toughest period in living memory, uncertainty over the country’s large-scale projects looks certain to continue.

In adverse times, truth can often be found, and not all lawyers in Lisbon are negative about the prospect of hard times ahead.
“There are some positives from situations like this,” says Pedro Pinto, a Partner at Pedro Pinto, Bessa Monteiro, Reis, Branco & Associados (pbbr). “The country is waking up to the situation and everybody is concluding that we’ve lived beyond our capacities.”
Pursuing a strategy that backs up his optimistic outlook, last July saw Pinto welcome two partners and five associates from ABBC into the firm, and also two lawyers from other law firms, heralding a change in name and the promise of a new era for the firm.
Such is the depth and scale of the problems facing Portugal, the new-look pbbr faces a market that Pinto believes is incomparable to almost anything previously seen before.
“This is the worst situation for 80 years. We’re reaching the conclusion that the development model for our country has to change. The state is too big, too involved in the economy and too involved in PPPs – the contracts for which aren’t sustainable and should be reassessed,” he says.
Pinto argues history has shown there are periods when governments, economies and their people have to “stop and reanalyse everything” before moving on.
“The political crisis will mean projects, especially government projects, will be put on hold for the short term. They will probably be reassessed before continuing and law firms will suffer. This is not a brilliant scenario but I think it’s realistic.
“However, law firms will see more work from financial restructurings and corporate M&A. They will also see some foreign investors investing in Portugal, as long as they are able to finance themselves, because they will be able to buy things cheaply. There will be opportunities but deals will take longer than in the lost old days,” concludes Pinto.

Taking a pragmatic approach to business – pbbr

Garcia-Sicilia

iberianlawyer.com

Iberian Lawyer, is a monthly digital magazine, published by LC Publishing, available in Spanish and English. It represents the main source of information in the legal business sector in Spain and Portugal. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Lawyer
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram