Legally yours

Started up in 1990 by Véronique Lartigue, the firm Lartigue Tournois & Associés, which counts some thirty lawyers today – with 24 in the Paris region and 5 in Beirut – specialises in corporate law. Providing advice, drawing up contracts, settling disputes and arbitration make up the lawyers’ daily activities. Since the mid-1990s, the firm has specialised in communications law, but also in business culture and the art market, advising clients on patronage and sponsoring. It also has a life sciences department devoted to scientific creation. At the same time, the firm is reputed for its sound knowledge of Middle Eastern countries. Today, it carries out a significant share of its activity with clients from these countries investing in France, or French clients envisaging to take up opportunities to collaborate with Middle Eastern and Gulf countries.

A privileged relationship with the Middle East
“From 1999 onwards, we have maintained a privileged relationship with a Lebanese firm based in Beirut, allowing us to work with all Gulf countries,” explains Véronique Lartigue. In the Middle East, the firm works with institutional clients as well as the “family offices” (private companies run by and for a single company, with the aim of efficiently transmitting generations-old wealth, editorial note) wishing to invest in Europe.
The firm also assists French companies to sound out opportunities for setting up, investing or collaborating in Gulf countries. “When working with Gulf countries, it is essential to know their cultural codes which are very different from Western ones. This notably allows us to better anticipate what our clients are looking for,” observes Saladin Kassimy, a Lebanese-born Partner of the firm. Cultural proximity and a knowledge of the right networks for settling deals more quickly are undeniable advantages. “It is sometimes necessary to read between the lines, this allows certain barriers to be lifted,” specifies the lawyer. Lifting legal barriers in particular, for the legal framework in Gulf countries is not as tightly structured as the French one.
Whether it is a matter of companies in difficulty or real-estate developers lacking purchasers, France overflows with opportunities for Gulf-country investors, both institutions and families. “Real estate is particularly interesting for Gulf investors who now prefer to invest in European cities such as Paris that do risk losing value, unlike Dubai today…” comments Saladin Kassimy. Indeed, the new cities in the Gulf countries, highly valued by speculators, have been victims, since the onset of the global economic crisis, of frozen investments and a loss of interest from investors who now prefer going back to sure values. “The current crisis period is favourable
for investments, whether in companies or real estate,” confirms Véronique Lartigue.

Interesting opportunities in the Middle East
Largely dependent on the petrol industry, Gulf countries are currently evaluating their options for changing their focus. The water industry, real estate, public works, as well as high-tech are some of the sectors that enthuse these countries. “Young people are now turning away from petrol-related training in favour of medicine or scientific disciplines and IT,” notes Véronique Lartigue. The Middle East has thus a keen interest in collaborations with France, a prime breeding ground for numerous sectors and home to well-trained and qualified workers. “Opportunities in the Middle East do not only concern large companies: there is also a place for high-performing SMEs in sectors of interest to these countries,” clarifies Véronique Lartigue.•