The German commercial real estate market saw a strong start to 2013, reflecting the cautious optimism expressed by contributors at this stage last year. According to global real estate services firm CBRE Group, both domestic and international investment continue to see Germany as the most attractive target throughout Europe, as demonstrated by the total investment turnover in the first quarter of 2013, which reached nearly €7 million. While the real estate market is not impervious to the effects of European debt levels and slow economies, many predict that the growing confidence of businesses and consumers alike will encourage more major transactions throughout 2014. Our research identifies 34 lawyers who stand out for their sector-leading abilities in this field.
Public procurement lawyers are adapting to an increasingly specialised and sophisticated marketplace. Managing the boom in litigation has become a focus for firms as a growing number of clients indicate their willingness to aggressively challenge tendering processes and decisions. We list 21 experts in this chapter.
The infrastructure sector has been struggling over the past few years, as concern about the Eurozone situation has hampered growth. However, there are some notable projects in the air transport, rail, energy and utilities sectors that are keeping lawyers busy. In this section we single out the three most highly-regarded practitioners for project finance.
An important development noted by our sources is the increasing significance of criminal liability and the potential criminal exposure for boards of directors relating to product issues. This is likely to increase the amount of contentious work for our product liability specialists. Changes to the Product Safety Act on a European level are also on the horizon although nothing concrete has been discussed, and so it can be expected that the stream of work in the area will not decrease. Thirteen lawyers are listed this year.
Private client work continues to remain active as high net worth individuals and families require assistance with wealth and succession planning. Five nominees are selected for inclusion in this chapter.
Germany has benefitted in recent years from increased investment from Asia which has seen a growth in M&A activity in the services, financial, energy, pharmaceutical and industrial sectors. Forecasts for the year ahead predict the majority of growth in the mid-cap market with transactions valued at over €500 million still very rare. We list 35 lawyers in this chapter.
Continued economic growth and stability in the country over the past year means that the labour and employment sector has seen encouraging levels of activity. Management-side lawyers’ advice is being sought in relation to business organisation and restructuring, as employers seek to prepare for any future change in economic circumstances. Practitioners are also active in relation to the new EU Data Protection regulation, as they look to reconcile the new law with extensive German legislation on the subject. Our research identifies 41 “leading” lawyers in the management labour and employment field.
The hot topic this year has been pricing. The pricing regulations in Germany are fairly rigid, and were recently amended to require dossiers to be drawn up for all products on the market for pricing reviews (the AMNOG law). This will have an impact on market access as companies are required to prove through their dossier that their drug should priced above the “generic drug” level. According to our sources this has led to an increase in the number of companies asking for advice, and the upcoming year will be a “learning curve” for both clients and firms. There are 35 life sciences specialists listed this year.
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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.