Stathis Potamitis

Greece

PotamitisVekris
9 Neofytou Vamva
10674 Athens,
Greece

Tel: +30 210 3380000
Fax: +30 210 3380020

Email: stathis.potamitis@potamitisvekris.com
Web: www.potamitisvekris.com

Stathis has a broadly based transactional practice and has acted in numerous cross-border mergers and acquisitions across South-East Europe. He is highly rated for his representation of clients in their entry into investment transactions and on the structuring of capital markets deals. As Deputy Chairman of the Athens Derivatives Exchange from 1998-9, Stathis was instrumental in the preparation of the Investment Service Firms Code of Conduct as well as the legislative framework for the dematerialization of listed securities, the operations and products of the Athens Market for listed derivative instruments and the clearing and settlement of trades in listed derivatives. He is also a dedicated expert in the field of arbitration and regularly pursues and defends claims on behalf of his clients before international arbitration hearings. Stathis is an INSOL International Fellow and a member of the International Insolvency Institute.

Stathis leads PotamitisVekris’ initiative to create a network of collaborating professionals, made up of lawyers, accountants and bankers, in the area of insolvency and restructuring, who meet regularly at workshops, seminars and lecture programmes on the interpretation and application of the current legislative framework. In 2012, he was invited to become a member of the Hellenic Council on Corporate Governance (an Athens Exchange and SEV joint venture). Stathis is regularly invited to speak on his topics of specialisation. Most recently, he gave presentations at the European Association of Financial Law (AEBDF) on bank recapitalization, the IEEI Colloquium in Brussels (a European Association of Insolvency Lawyers) on new developments in Greek insolvency law, the Annual Convention of the Greek Commercial Lawyers on IKE, a new type of limited liability company, the IBA Balkan Legal Forum in Istanbul on law firm management, the Taylor Wessing Network Conference in Istanbul on Greek Insolvency Law developments and the Annual Convention of the International Insolvency Institute in Paris on the advantages and disadvantages of the new reorganization regime under article 6 of the Greek Bankruptcy Code. Stathis also made a TEDxAcademy presentation in September on “The Eumenides, How to Turn the Furies into Benevolent Spirits” and spoke at the Economist conference on creditor coordination in dealing with troubled borrowers and non performing loans.

Greece codified its bankruptcy provisions for the first time in 2007. The Bankruptcy Code also brought fundamental changes to pre-insolvency and insolvency proceedings. A new conciliation procedure was introduced, providing for a judicial moratorium of 2 (temporarily 4) years for the protection of a restructuring agreement to which a majority of the debtor’s creditors adhere as well as a recovery plan involving a cram down on non participating creditors that can be authorized by a court to which a bankruptcy application has been submitted. However, the impact of the current economic crisis has been of such severity that conciliation was scrapped in 2011 and replaced by the recovery proceeding, which introduced a cram down at the pre-insolvency stage as well as expedited liquidation proceedings, styled “special liquidation”. Given the recent introduction of the UNCITRAL Model Law provisions on cross-border insolvencies and a new statute providing protection to insolvent consumers (Greek insolvency law is limited to merchants), as well as the general economic condition of the country, Greece has truly become an active jurisdiction for insolvency law.
PotamitisVekris is a broad commercial law practice based in Athens and operating across South-East Europe. We are currently one of the largest firms in Greece, with a significant market presence and recognised for our expertise in the areas we practice.

The firm, based on the twin pillars of advisory and dispute resolution work, is broadly recognised for its excellence in a number of practice areas and industries each headed by some of Greece’s most prominent legal practitioners. Combining an international outlook with in depth local knowledge and legal learning with a commitment to problem solving, POTAMITISVEKRIS reflects its principals’ ambitions to bring the provision of legal services in Greece to a new level of competence, quality of service and integrity.

Our team has continued to grow steadily over the last two years despite the financial crisis in Greece. Aspasia Malliou, a taxation specialist, joined the firm as a Partner and Head of the Tax Department, confirming our commitment to providing end to end legal services across all areas of commercial law and catering to our clients’ need for guidance in this increasingly complicated and fluctuating sector. Two of our associates, Vicky Psaltis and Alexandros Kortessis, have been promoted to partners, with Vicky now heading the Arbitration and Shipping practice areas and Alexandros the Commercial practice area and public procurement matters. Alexios Papastavrou, a highly regarded employment law specialist and very experienced litigator joined POTAMITISVEKRIS as a lateral partner in mid 2010.

POTAMITISVEKRIS, a strong national partnership with an important presence in key market sectors and practice areas, is a unique example in its jurisdiction of a true law partnership with a long term investment in its people and tools. Our reinvigorated team build on their well established reputation for quality, innovation, commitment, enthusiasm and eagerness to provide the best possible level of service to our clients.

 
Stathis Potamitis “has a deep knowledge of law, understands the critical points straight away and is very proactive,” enthuses one satisfied client.
Chambers Europe, 2015