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.
Kostas and Basil Lambadarios as soldiers (1937).
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.
Summary report of aid provided to Greece. through the Marshall Plan (1948-1952). Basil and Kostas Lambadarios were legal counsel to the American Mission.
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.
Grand opening of the Goodyear plant in Thessaloniki (18/10/1969).
The company was represented by the firm. On the right Kostas Lambadarios.
Kostas Lambadarios.
Sample agreement between a foreign and a Greek company based on Anglo-Saxon detailed formality.
The project involved the Lambadarios Law Firm.
The final agreement between Tom Pappas and the Greek State was signed on 2-10-1964.
The agreement was drafted by the Lambadarios firm. In the photograph, Deputy Minister for Coordination Andreas Papandreou (with journalist Dimitris Maroudas standing next to him) and Tom Pappas sign the agreement.
Konstantinos (Kostas) E. Lambadarios took part as a rapporteur in drafting the mining code in 1965.
Kostas Lambadarios and his wife, Kakia (Aikaterini) née Chelmi, while studying in the United States. (Rockport, Massachusetts, February 1952).
The signing of the concession agreement between the Greek State (represented by Minister of Industry Nikolaos Martis) and Kennecott Corporation (its president, Charles Cox). Standing in the middle is Kostas Lambadarios.
The Lambadarios Law Firm represented companies associated with Tom Pappas for years, though Esso Pappas had its own legal department. The Pappas investment came up against numerous obstacles, which required the adjustment of the original agreements and the issuance of royal decrees to settle matters.
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Associates of the firm during the 1970s
(from left): I. Kokoropoulos, M. Fregadi, K. Lambadarios, R. Ritsopanidou, M. Fronista, D. Bleta.
Basil Lambadarios’ university diploma with top marks (1936).
Kostas Lambadarios’ university diploma, with top marks. It was issued on the same day as that of his twin brother, Basil (27-5-1936).
Baccalauréat diploma for secondary education for Konstantinos Lambadarios, 1932.
The first important contribution by Kostas Lambadarios to the field of Private International Law (1939).
Another study by Kostas Lambadarios on legislation to encourage foreign investments. Like his other studies, it was published in the Revue Hellénique de Droit International, issued by the Hellenic Institute of International and Foreign Law.
Study on the principle of freedom to enter into contract in private international law by Kostas Lambadarios (1950).
Kostas Lambadarios and his wife, Kakia (Aikaterini) née Chelmi, while studying in the United States. (Rockport, Massachusetts, February 1952).
Critical exposition by Kostas Lambadarios of the protection of foreign investments provided by LD 2687, which had just been issued.
French translation of the study by Kostas Lambadarios on LD 2687.
This study by Kostas Lambadarios was published before the issuance of LD 2687 and contributed to its final form.
A souvenir from the grand opening of the Esso Pappas complex on 10-5-1966. Present were the royal couple, most members of the government, the US Ambassador and many other dignitaries. “The dream of industrialisation has become reality,” wrote the press the next day, even from the opposition camp.
Konstantinos E. Lambadarios took part as a rapporteur in drafting the mining code in 1965.
Thomas Pappas’ signature.
In 1965, the Lambadarios firm represented Boeing in its agreement to supply Olympic Airways with airliners.
This hefty volume is part of one of many agreements between the Public Power Corporation and contractors for the construction of the Stratos Hydroelectric Dam on the Acheloos River (1987). The project involved the Lambadarios Law Firm.