1. Introduction Take-or-pay clauses are common in long-term supply contracts in the energy sector, the […]read more...
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Our Firm has successfully represented a major Greek steel company in a dispute against a regional monopoly in gas supply. We have obtained a temporary restraining order preventing the supplier from interrupting access to the grid, on presumably outstanding payments which the client disputes as monopolistically abusive. The court adopted our innovative and creative approach regarding the eligibility of the industrial consumers, which resulted in the questioning of the pricing policies from the monopoly to the client and therefore the lawfulness of the attempted cut off. The case will be definitely decided in ordinary proceedings where challenging and novel legal issues will have to be addressed.
Nicholas is the Managing Partner of the Firm. With over 32 years of experience he is one of Greece’s best-known practitioners. He specializes in the areas of litigation/dispute resolution, banking, finance and energy, with an emphasis on corporate finance, securities, regulatory work, EPC projects, commercial transactions and real estate.
Nicholas is a prominent lawyer and litigator and represents or advises clients such as Volkswagen AG, AUDI AG, SEAT S.A., Siemens AG, Heinz, Anheuser Busch Inbev, Nielsen companies and the Mytilineos Group in several high-profile transactions or landmark disputes before the higher courts and arbitration tribunals.
He has recently added to his track record successful results in energy related disputes, acting on behalf of steel and aluminum industrials as well as natural gas downstream clients; he has also been handling major international arbitration cases, involving state -investor investment disputes (BIT disputes).
Within the last six years he has built an impressive track record of successful results in energy related disputes, acting on behalf of steel and aluminum industrials as well as natural gas downstream clients; he has also been handling arbitration cases under the ICC and the UNCITRAL Arbitration Rules as well as international arbitration cases involving investor-state disputes (BIT disputes).
A recent highlight of Nicholas’ track record is the successful representation of Mytilineos Holdings in a bilateral investment treaty dispute against Serbia under the UNCITRAL Arbitration Rules. The dispute related to an investment in state-owned RTB BOR, one of the largest metallurgical and mining complexes for copper extraction and production on a global basis. Moussas & Partners together with other international law firms represented the Greek conglomerate in this landmark case where the Tribunal ordered Serbia to pay to Mytilineos compensation in the area of US$40 million.
Furthermore, Nicholas holds the position of General Counsel to the Hellenic Deposit and Investment Guarantee Fund since 1997. From this position, he is able to closely follow the legal developments in the banking and capital markets industry and has been a contributor to the reform of the deposit insurance and credit institution resolution legislation in the current economic crisis in cooperation with the representatives of the IMF/EU/ECB. He and the banking team advised an international investment bank as Tender Advisor to a Voluntary Tender Offer launched by the largest Greek bank to acquire all outstanding stock of another major credit institution, in what was described as a banking mega-deal for Greek standards
Nicholas is also included in the exclusive panel of arbitrators of the Regulatory Authority for Energy (RAE), the apposite administrative authority for energy in Greece. See more at: www.rae.gr
Nicholas speaks Greek, English, French and German.
Nicholas Moussas is cited amongst the top commercial and civil litigators in Greece. Chambers Europe (2011, 2012) and Chambers Global (2012) have listed him as expert in Dispute Resolution.
Clients are quoted in Chambers Europe 2012 as saying that Nikos Moussas is “one of the smartest and most effective lawyers in Greece. He thinks outside the box to find the solutions needed.”
Managing partner Nicholas Moussas “is always on the ball. He’s good at explaining Greek law to foreign clients and lawyers, and has all the right instincts. He’s prepared to make bold moves”. His strategic, tactical approach and top-notch track record are also appreciated. (Chambers Europe 2013)
Nicholas is regarded as an “experienced litigator” by peers. He is skilled in energy-related litigation and regularly represents clients before the Greek high court as well as arbitration boards. (Chambers Europe 2015)
Nicholas Moussas has been selected by his peers for inclusion in The Best Lawyers in Greece 2016 in the practice areas of Arbitration and Mediation and Litigation.
- Hellenic Society for Finance Law: Credit Institutions Resolution Tools and the HDIGF, Conference, January 2012
- “Cross-border Mergers of Credit Institutions in Relation to the Coverage of Deposit Guarantee and Investment Schemes”, Bulletin on Finance Law, Vol.10, 2010
- “Deposit Guarantee, Legislative Developments and Liquidation of Credit Institutions”, Corporate and Business Law Journal, Vol. 160, 2009
- “Terms and Conditions for Set-Off of Liabilities of Borrowers with their Claims as Depositors against the HDIGF”, Bulletin on Finance Law, Vol. 7, 2009
- “Integration in the Compensation Scheme of the HDIGF of the Investment Services Provided by Credit Institutions”, Bulletin on Finance Law, Vol. 2, 2008
- “Deposits of the Joint Guarantee Investment Insurance Fund in Credit Institutions and their Protection under the Deposit Guarantee Scheme”, Hellenic Banks Association Bulletin, April 2005
- “Share Capital Increase: Appropriation and Changes in the Use of Funds Raised”, Stock Exchange Issues, October 2003 (co-author)
- “Temporary Adjudication of Insurance Claims in Injunctions Proceedings”, Panhellenic Conference on Commercial Law, November 2004
- “Share Capital Increase: Appropriation and Changes in the Use of Funds Raised”, Stock Exchange Issues, October, 2003 (co-author)
- “Writs of Arguments of the Parties before the Court”, Dike 2003
- “Forced Sale of a Client’s Portfolio: Time Restrictions”, Stock Exchange Issues, February 2002
- “Bankruptcy Petitions”, Tax Legislation Bulletin, 1998
- “Arguing Against Forged Documents”, Dike, 1998
- “On Termination of Commercial Lease Agreements”, Daily Financial Express, October 1997
- “Tax Registration of Private Agreements”, Daily Financial Express, May 1995
- “International Harmonization of Securities Laws”, Warren Institute on Financial Services, Berkeley, May 1988
The Firm has successfully represented a major steel company in its dispute against the Public Power Corporation before the Athens Court of First Instance. The dispute concerned the damages incurred to the client due to the unilateral and arbitrary decision of the public power company to increase the electricity supply market tariffs by 10% in July 2008, at the offset of the deregulation of the electricity market. The Court found that the unilateral increase of the market tariff was in breach of competition law and awarded damages to the client.