Challenge

The European Central Bank’s (ECB) single supervisory mechanism decided to carry out its first audit of Greece’s four systemic banks since it was set up. Greece’s leading bank turned to Alber & Geiger for help amid shareholder complaints over irregularities during the last round of capital raising. Assistance was required to ensure a standard and short regulatory scrutiny that would have not weakened further the image and investor confidence in the bank and its management.

Strategy

Alber & Geiger approached directly the European banking regulators and pressed the European Commission and its respective Directorates to announce their clearance of alleged irregularities. We emphasized the importance of investigations being short to not harm the image of the bank and its management.

We then sought to restructure the confidence on the Greek and European financial sector vis-à-vis the EU and German lawmakers and administrators. Our message put on the spotlight the bureaucratic approach and lengthy investigation on the bank itself, highlighting the lurking threat of economic and social instability of requiring more EU taxpayers’ money to the rescue.

Results

Six months into the mandate, the media campaign against our client and repeated calls against its management came to a halt. We helped facilitate the exchange of views between our client and the European banking regulators at the highest political level. By doing so, we helped prevent another wave of economic instability in Greece’s largest systemic bank.

Challenge

The Ukrainian company Milkiland had been ignored and effectively passed down with respect to a crucial development loan from the European Bank for Reconstruction and Development (EBRD). Milkiland sought out help. The challenge was to overcome the network of interests that were blocking the EBRD from assessing the request of Milkiland on the face of it.

Strategy

The strategy was for us to simulate a check and balance mechanism in a more private context, within the nature of EBRD, being positioned in between the public and private domain. We co-ordinated the relevant playmakers and acquired a detailed awareness of EBRD’s internal politics. We delicately navigated the assortment of economic and political objectives and obligations.

We put forward that the behaviour of the EBRD was contrary to the purpose of the organization. By prejudicing the position of a Ukrainian company, it was acting against the stated objective of helping Ukraine become a stand-alone market economy.

Results

The result was a tremendous 30 million dollar loan for Milkiland. This achievement was the consequence of a careful triangulation of sensitive political and private interests. Legal and institutional certainty, and ethical business behaviour, are now a cause for enhanced development prospects in Ukraine.

Challenge

The Giurgiulesti port of Chișinău in Moldova is an important strategic hub for all shipping to the black sea. It is a high EU political strategic value with regard to neighboring Russia.

In Moldova, we were faced with the task of steering tough EU diplomatic entanglements, in a direction that secured justice for our Azerbaijani client. The client was an important investor in Moldova. His interests in the Moldovan port which also involved huge EBRD investments had been compromised by an EU national.
Our client had sought a solution in Moldovan courts. After a freezing order in his favour was miraculously lifted, in the context of public statements from EU officials, he was concerned about the rule of law, independence of judiciary and the respective safety of his assets in this potential EU member state – and reached out to our team.

Strategy

The strategy was a bold venture into the multi-layered external relations boundaries that have been blurring due process. We reminded the EU that it had an obligation to uphold the rule of law in a potential EU accession country even if the result geopolitically would favor potentially Russian interests.

Results

The EU was ultimately content with making a neutral statement that did not implicate its integrity. It resulted in substantive justice for the client, and created a more positive relationship with the EU institutions.