Frankfurt. Credit: Conorcrowe / Adobe Stock Germany Inches Closer to Allowing Investor-Owned Law Firms
ECJ Advocate-General recommends Germany allow non-lawyers to Invest in law firms in the landmark Halmer case, potentially opening the door to private equity investors.
July 04, 2024 at 09:42 AM
4 minute read
Litigation
Frankfurt. Credit: Conorcrowe / Adobe Stock
An Advocate-General for the European Court of Justice recommended today that Europe's highest court reject Germany's prohibition on third-party ownership in law firms, potentially paving the way for private equity investors.
The decision to accept or reject the Advocate-General's opinion now rests with the European Court of Justice which could rule on the case as early as September. Depending on the court's decision, there may be a radical change in the German legal sector.
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