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Now Cleary, Gottlieb, Steen and Hamilton LLP

01 September 2011 / 12:09:07  GRReporter
8183 reads

The famous New York law firm Cleary, Gottlieb, Steen and Hamilton LLP, which has offices worldwide, was hired by the Greek government to develop a legal framework for the country’s leaving the euro zone. The firm has extensive experience in providing legal services to countries in debt crises. According to the publication of the Greek newspaper Eleftherotypia, Cleary, Gottlieb, Steen and Hamilton LLP has studied in detail the payment of the Greek debt, its restructuring and Greece’s leaving the euro zone.

The news sparked a wave of reactions, including by the Greek Ministry of Finance, which in a late sms to journalists defined the news as "inaccurate and questionable." "Immediately after the summit of eurozone countries on July 21 we announced the companies that will advise the Greek government on the PSI - Private Sector Involvement or the involvement of private creditors in the restructuring of the Greek debt. These are the banks BNP Paribas, HSBC and Deutsche Bank, financial advisers are Lazard, and the legal advisers are Cleary, Gottlieb, Steen and Hamilton LLP ", says the official release.

The left MP Panagiotis Lafazanis made an official request to the Finance Minister for the law firm, the purpose of hiring it and the amount which will be paid in exchange for its services.

There is no official reaction from the Cleary, Gottlieb, Steen and Hamilton LLP yet. The firm was founded in 1946, has over 900 lawyers worldwide and is recognized as one of the 10 most prestigious law firms in the world.

Tags: Cleary Gottlieb Steen and Hamilton LLPLeaving the euro zoneGreek debt crisisRestructuring
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