Firm profile submitted by Réttur - Aðalsteinsson & Partners
Chairman: Ragnar Adalsteinsson
Managing Partner: Sigurdur Orn Hilmarsson
Number of partners: 4
Number of lawyers: 12
Languages: Danish, English, Icelandic, Norwegian, Spanish, Swedish.
Réttur traces its origins back to 1969 when Ragnar Aðalsteinsson, one of Iceland’s leading lawyers, and the firm’s senior partner started his private practice in Reykjavík. The firm offers top quality services to both domestic and internationals clients, and has a reputation as a leader in corporate and commercial law, dispute resolution, IT/IP law, and corporate restructuring and insolvency. Following the collapse of the Icelandic banks in October 2008, Réttur has acted for a large number of international banks and investment firms, such as Deutsche Bank, Bayerische Landesbank, Landesbank Baden Württemberg, BNP Paribas, and Commerzbank, as well as a large group of international bondholders both in high stake litigation and advising on insolvency and restructuring.
In addition to international banks among the firm’s clients are individuals and local corporations. Réttur still honours the same philosophy Ragnar Aðalsteinsson started out with, giving members of the public a fair chance to pursue their rights.
Réttur represents its clients in administrative proceedings, the civil courts, in arbitration and in alternative dispute resolution proceedings. Most fee earners litigate and a number of the firm’s partners are acclaimed litigation specialists.
Réttur’s approach to litigation and dispute resolution is firmly grounded in human rights and the firm’s partners have litigated many of the leading cases in the field of human rights in Iceland as well as taking many cases to the European Court of Human Rights.
Over the past years the firm has litigated many of the biggest cases before the Icelandic courts, including complex multi-jurisdictional cases for international clients.
Restructuring & Insolvency:
Réttur has developed a highly skilled team in the field of creditor representation and creditor rights and specialises in advising international creditors of Icelandic companies.
Réttur has advised a large number of international financial institutions in relation to the winding-up proceedings of the collapsed Icelandic banks, specifically the three large banks: Kaupthing, Landsbanki and Glitnir. This work commenced immediately after the collapse of the banks in late 2008. Since 2009 Réttur has advised a large group of bondholders (including hedge-funds) coordinated by Akin, Gump, Strauss, Hauer & Feld in London and New York. This group has been actively involved in all three insolvencies and holds a large majority of the total amount of claims filed in the insolvencies. From 2009 Réttur has advised lenders of several of the Icelandic Savings Banks that went into insolvency in 2009-2010 (including SPRON, BYR, Icebank and SpKef). Réttur assisted creditors in lodging claims, negotiating settlement of disputes and advised on various aspects of creditors’ rights in the insolvencies.
Réttur has also assisted domestic companies and their creditors in finance and restructuring matters, including longstanding client Icelandic Water Holdings.
Banking & Finance:
Following the collapse of the Icelandic banks in October 2008, Réttur has acquired a large number of international clients in the field of international banking. Increasingly, Réttur has been instructed by these international clients on issues unrelated to the collapse, such as financing.
In this field in particular the capital controls currently in force in Iceland provide for significant complexities. International investments that were once routine often need to go through additional procedures. Their work includes advising their clients on the most beneficial route through the capital controls. In most cases this involves carefully designed structures for each case.
IP / IT & trademarks:
Réttur’s partners have held an appointment in the Official commission on author’s rights, by the Minister of Cultural Affairs from 1978. The commission is an expert statutory body advising the authorities on all matters relating to author’s rights and IP.
Réttur advises the major copyright collective in the field of music (STEF) as well as the Writer’s Union. Additionally, Réttur has decades of experience in advising on copyright and trademarks.
Commercial, Corporate & M&A:
Over the past few years Réttur has been expanding its corporate and M&A practice. This has been mainly driven by Réttur’s clients, who have good experience dealing with the firm in other practice fields, and have increasingly been trusting the firm for advice on corporate matters and other types of transactional law.
A majority of Réttur’s work in this field has been for international clients doing business in Iceland.
- Klapparstíg 25-27,
- Tel +354 511 1206
- Email : [email protected]