FOREIGN INVESTMENT PROTECTION
FOREIGN INVESTMENT PROTECTION
1938
THE NEXT GENERATION:
KOSTAS AND BASIL LAMBADARIOS
In the late 1930s, two young lawyers were frequently mentioned in the announcements of the Athens Bar Association. They were the sons of Epaminondas Lambadarios, Kostas and Basil, who over the next few decades would take over and grow the Lambadarios firm beyond every expectation.
The two brothers were twins, followed an identical career path, and would work closely together until the end of their long life.
In 1937, they were recruited to the Army and once discharged, they were sworn in as attorneys on 20-6-1938.
1939
INVOLVEMENT WITH PRIVATE INTERNATIONAL LAW
Basil Lambadarios had been appointed secretary-general of the Hellenic Institute for International and Foreign Law. The Institute, the activities of which the two brothers remained associated throughout their lives, was established as a legal entity under public law with the Emergency Law 1712/1939. It determined that the position of the secretary-general was compatible with practicing law.
The purpose of the Institute was to keep Greek jurists informed on issues related to foreign and international law and, conversely, to inform foreign jurists on topics of Greek law.
1948
INVOLVEMENT IN THE MARSHAL
PLAN AS LEGAL COUNSEL
During the period of the occupation of Greece by the Axis Powers (1941-1944), the Institute of International and Foreign Law officially dissolved itself. Nevertheless, its scientific activity did not cease, despite great adversity. In 1947, the Institute was back in action and Basil Lambadarios once again took up his position of secretary-general.
At the same time, Kostas Lampadarios conducted a study on the autonomy of the will principle in private international law as it had been formulated in Greek bibliography and jurisprudence.
The main characteristics of the early post-liberation period were the mutually reinforcing relationship between extensive state interventionism and the scarcity of goods, which American aid aimed to address.
In 1947, a development took place that was of utmost significance to the history of the firm. The performance of the Lambadarios firm in the field of private international law and their excellent foreign language skills linked them to the American Mission for Aid in Greece under the Marshall Plan, for which they were appointed legal counsels.
1951
AT HARVARD
Among the few Greeks to receive a scholarship under the relatively new Fulbright program for the 1951-1952 period was Kostas Lambadarios, who was 36 years old at the time. He was given the opportunity to study at Harvard Law School, specializing in Public Law and Organisation.
While in the USA, Kostas Lambadarios worked with major law firms specializing in the legal protection of investments. After returning to Athens, he turned his attention to the burning issue of protecting foreign investments.
1953
THE LEGISLATIVE DECREE (LD) ON INVESTMENTS
AND FOREIGN CAPITAL PROTECTION.
A fundamental economic measure was adopted in 1953 to attract foreign capital. The legislative decree on investments and foreign capital protection, which Kostas Lambadarios had helped to draft, was published and remains in force to this day. He spent years working with this law and his specialization was recognized by foreign organizations and universities which called on him to analyze the law regarding investments in Greece. The Greek government would also invite him when complications arose. LD 2687/1953 brought immediate results.
During the following period, $1 billion was invested into Greece under LD 2687, while $183 million in capital and $102 million in profits were repatriated. As legal counsel, the Lambadarios Law Firm played a significant role in these transactions.
1961
ADVICE TO INVESTORS UNDER
CONDITIONS OF UNCERTAINTY
The agreement whereby Greece became associated with the European Economic Community (EEC) created a need for additional legal rules. The legislative framework that potential investors had to take into account was favorable but grew increasingly complex. The firm’s activity increased accordingly.