The Legal 500

Kazakhstan

Editorial

Index of tables

  1. Legal market overview
  2. Leading individuals

Leading individuals

This ranking is based on quality and scope of service. Therefore, narrowly focused practices may be ranked lower in the table than a quality competitor with a broader base but may still be considered outstanding in its chosen discipline.

The international law firm dynamic in the market continues to change, with Salans LLP and SNR Denton united as part of the global Dentons merger but with members of the former SNR Denton team now being largely departed, either to new entrant Kinstellar LLP or out of the market entirely, in the case of Marla Valdez, who has relocated to Dentons in Muscat. Reed Smith LLP has been hiring steadily since opening an office in Astana in December 2012 and AstapovLawyers International Law Group recruited Antonina Yaholnyk from Baker & McKenzie – CIS, Limited.

Curtis, Mallet-Prevost, Colt & Mosle LLP runs a lean team of nine lawyers in Kazakhstan supported by colleagues in New York. The practice, which is headed by Askar Moukhitdinov, focuses on upper-end mandates for the government or state-owned enterprises. Much of the work pertains to corporate, commercial or tax law, particularly in the oil and gas sector, while international arbitration on behalf of government ministries is another significant element of the practice. It advised the government extensively on the Kashagan oilfield, including guidelines, dispute settlements and an agreement with all Kashagan Consortium companies to sell gas into Taraz special economic zone. Private sector clients include United Chemical.

Strong and deep in a variety of areas’, Dentons’ ‘very satisfactory’, full-service practice is staffed by more than 30 lawyers. It has been advising the Islamic Corporation for the Development of the Private Sector on the market’s first shari’ah-compliant leasing company; and acted on several corporate or asset acquisitions and investments, notably in the food and beverages sectors. Other clients include the European Bank for Reconstruction and Development (EBRD), Kazakhmys plc, Louis Vuitton, North Caspian Operating Company, Shell, and Société Générale. Managing partner Aigoul Kenjebayeva has ‘encyclopaedic knowledge of Kazakh law and the commercial or governmental environment, which she combines with good judgement’. Kanat Skakov is ‘client-oriented, diligent and focused’. Abai Shaikenov heads the banking practice, and is also well regarded for mining law. Birzhan Zharasbayev was promoted to the partnership in June 2013 and Adam Kaucher joined from KPMG Tax and Advisory LLC in November 2013.

Kinstellar LLPhas an excellent practice in Kazakhstan in corporate and capital markets’. It founded its Almaty office following the hire of a team from Dentons legacy firm, SNR Denton. Consequently, although the firm is a new entrant, its team is highly experienced in Kazakhstan. Adlet Yerkinbayev has ‘excellent knowledge of Kazakh law’, is ‘a technically excellent lawyer and does a very good job of explaining a difficult market’, and managing partner Joel Benjamin ‘knows the market very well and is very practical in his legal advice’. Clients include various international banks and corporations including Deutsche Bank and Rompetrol. Prior to its move to the new firm, last year the team acted as local counsel to Freshfields Bruckhaus Deringer LLP on Kcell’s IPO and dual listing on the London Stock Exchange (LSE) and Kazakhstan Stock Exchange (KASE). The team was augmented with the addition of counsel Maksim Grekov in October 2013.

Morgan Lewis LLP is ‘excellent and provides consistently outstanding service and support’. Its scope spans corporate, commercial, financing, and project matters, with the core oil and gas and energy work being diversified by instructions in mining, manufacturing and telecoms. The firm advised Kcell on obtaining a $300m syndicated loan from Citibank and RBS; acted for shareholders of confectionery company Rakhat JSC on the divestment of a 76% stake to Lotte Confectionery Co; and is advising Pavlodar Refinery on its upgrade project. Other clients include Alstom, GE, KazMunaiGas, MOL, Statoil and TeliaSonera. Klara Nurgazieva is recommended along with managing partner Aset Shyngyssov, who is ‘very knowledgeable’. Senior figures Brian Zimbler and Jon Hines provide support from Moscow and London. The team is ‘articulate, pragmatic, thinks outside the box, and has very effective transaction execution skills’.

White & Case Kazakhstan LLP is ‘very hands-on and gives very practical advice’. It has recently opened an office in the capital, Astana, to complement its presence in Almaty. Project finance, capital markets, corporate and M&A instructions remain at the core of the practice, particularly in the oil and gas sector. The team advised BTA Bank on its $11.1bn debt restructuring; HSBC Bank plc and J.P. Morgan Securities plc as joint lead managers on KazAgro’s $1bn debut notes offering under its debt issuance programme; and Zhaikmunai on its $560m senior notes issuance. It assisted Beineu Shymkent Gas Pipeline LLP with obtaining $1.8bn in construction financing from China Develop-ment Bank. Leading individual and executive partner Maxim Telemtayev is recommended along with counsels Kairat Baizakov and Marat Ibragimov.

Aequitas’ 18-lawyer team provides reliable and comprehensive service across oil and gas, mining, financial services, manufacturing, and IT. It has advised regular client Chevron on customs and labour law matters, and recently acted for Eurasian Development Bank. Managing partner Olga Chentsova is highly regarded. Semion Issyk, Nurlan Sholanov, Yuliya Chumachenko and Nataliya Braynina are the other key figures.

BMF Group LLP has ‘a very Western approach to service delivery, but knows the local landscape and culture’. It has the market’s leading intellectual property practice through Yuri Bolotov – ‘the top IP lawyer in Kazakhstan’ – and, in addition, advises clients on financing, corporate and litigation matters. FMCG (including tobacco), mining, pharmaceuticals and financial services are significant industry sectors. Recent work includes advising on enforcement and anti-counterfeiting measures pertaining to Subaru and Toyota trade marks. Vsevolod Markov is ‘very experienced in a broad range of commercial transactions’. Vladimir Furman is ‘one of the best litigators’ in the market and Yuliya Petrenko is ‘a very professional lawyer’.

Baker & McKenzie – CIS, Limited represents international banks, corporations and commodity traders, providing comprehensive legal advice through its 13-strong team. The group advised Mobile TeleSystems OJSC on certain matters in Uzbekistan and has been providing employment law support to ArcelorMittal. Other clients include BNP Paribas, GlaxoSmithKline and Lukoil, as well as mining giants Rio Tinto plc and Vale. Managing partner Azamat Kuatbekov and Curtis Masters are recommended.

Dechert LLP provides ‘highly professional legal services’, which span financing, general corporate support and dispute resolution. It has been advising JSC Kazakhstan Electricity Grid Operating Company on preparations for its IPO as well as assisting other clients with joint ventures, commercial agreements and operational matters. Other clients include Alfa-Bank, China National Petroleum Corporation, EBRD, ExxonMobil, Microsoft, Tengizchevroil, and Total. Sergei Vataev and Victor Mokrousov are the primary corporate and commercial lawyers, while dispute resolution mandates are handled by Vataev and the ‘very dedicated’ Mukhit Yeleuov, who ‘responds to problems very impressively’. Managing partner Kenneth Mack is well regarded.

Grata Law Firm’s sizeable and ‘excellent’ practice focuses on representation of foreign clients locally and on foreign capital markets listings. It also routinely acts on corporate and financing mandates in the energy and natural resources sectors, although IP, litigation and tax are other significant areas of practice. The firm advised the joint bookrunners on Kcell’s IPO through a dual listing on the LSE and KASE. Other work included advising Cammex LLP on the sale of two gold deposits; Nord Gold BV on a $500m notes issuance on the Irish Stock Exchange; and Samsung and KEPCO on negotiation of a legal framework between Kazakhstan and South Korea for the Balkhash independent power project. Samat Daumov, managing partner Rashid Gaissin, tax specialist Assel Ilyassova and Shakhrukh Usmanov are recommended.

Michael Wilson & Partners’ full-service practice advised Falck Group on the takeover and restructuring of a healthcare business in Kazakhstan; Teva Pharmaceuticals and Marsh & McLennan on respective regulatory matters; Hambledon Mining plc on the financing and acquisition of gold and other metal mines; and Rio Tinto plc on mining projects. It was local counsel alongside Linklaters LLP when advising BP on merger filings in relation to the planned divestment of its stake in TNK-BP. Michael Wilson and associate Richard Chudzynski are well regarded. Senior associate Aliya Iztleuova re-joined the firm in February 2013.

Yerzhan Kumarov and Tatiana Muratova head Norton Rose Fulbright’s practice, which spans M&A and other corporate transactions as well as banking and finance mandates including regulatory advice, and often involving subsurface use industries. It advised Glencore plc on its shareholding increase to acquire Kazzinc from Verny Investments, represented Equus Petroleum plc in its purchase of Kumkol Transservice LLP and advised Natixis, Sberbank and Société Générale on a $280m bridging loan to Nord Gold NV.

Olympex Advisers LLP is a strong local practice which provides a ‘prompt and high standard of service’. The 40-lawyer firm has a full-service contentious and non-contentious legal practice with particular expertise in governmental affairs and subsurface use industries, as well as ancillary tax audit and financial services advisory capabilities. It won law panel appointments to Samruk-Kazyna (the National Welfare Fund) and a leading oil and gas operating company. Large local clients include KazTransGas, KazTransOil, Nazarbayev University, Turgai Petroleum, and Zhaikmunai LLP. Managing partners Bolat Toktarov, Diyar Ereshev, Kuanysh Sarsenbayev and Yessen Massalin are recommended.

PwC Legal Kazakhstan displays ‘very good knowledge of the market, responsive, spot-on advice and good value for money’. It provides general legal support and M&A advice, and can leverage tax law support from colleagues in the accountancy practice, notably Ainash Alpeissova. Work in 2012 included providing due diligence and investment support to CITIC Kazyna and assisting Toyota Tsusho with a joint venture. Director Walter Daniel is able to ‘provide practical and commercially sound advice in tricky situations’. Senior attorney Asem Shaidildinova is the other main contact.

Reed Smith LLP, which opened its Astana office in December 2012, has had a heavy diet of dispute resolution as well as advising the government on participating in a consortium takeover of Eurasian Natural Resources Corporation plc. The firm is also representing Kazakhstan’s Ministry of Justice in an ICSID arbitration brought by a shareholder regarding the part-nationalisation of BTA Bank, and is acting for the same client in an investment treaty claim brought by AES Corporation and Tau Power. Belinda Paisley, who led on these matters, heads the practice from London. Of counsel Dinara Jarmukhanova is based in Astana along with senior consultant Azhar Kuzutbayeva, who joined from North Caspian Operating Company. Vladimir Shuster and Arman Tastanbekov joined in 2014 from Morgan Lewis LLP and White & Case Kazakhstan LLP, respectively.

Six-partner Sayat Zholshy & Partners provides comprehensive legal services. Recent work includes advising a uranium-mining client on tax-efficient corporate structuring and assisting National Bank of the Republic of Kazakhstan with regard to registering a $200m loan from an international lender. Other clients include Halliburton, LG and various banks. Managing partner Vitaliy Vodolazkin is recommended.

VSB Partners primarily focuses on capital markets, acquisitions, restructuring projects, with work in the energy and oil and gas industries to the fore. It advised ATF Bank on taking the place of ATF Capital as issuer of $100m notes. It also acted for railway operator Kazakhstan Temir Zholy both as borrower of a $425m financing from US Ex-Im Bank and on its $800m dual listing of notes on the London and Kazakhstan stock exchanges. Senior partner Gregory Vojack and managing partner Khairat Serikpayev are recommended.

Colibri Kazakhstan LLP is an Almaty-based law firm which emerged from a split following a short-lived merger with Colibri Law Firm. The 14-lawyer practice represents several leading banks and is very active in the natural resources sector. Saniya Tolesheva is the managing partner.

Colibri Law Firm engaged in a short-lived tie-up with a firm now trading as Colibri Kazakhstan LLP to open an Almaty office but, following the cessation of that agreement, Astana is currently the hub of practice. Recent work has included acting on significant real estate projects in the capital and advising on mining sector investments. Other active clients include Talgo and Kimberly-Clark. Azim Usmanov is the resident partner, and Otabek Suleimanov leads the practice while dividing time between Tashkent and Astana.

Operating with ‘good response times, a very professional manner and very good knowledge’, Ernst & Young Kazakhstan LLP provides customs, tax, general corporate and operational legal support to FMCG and luxury goods companies, as well as M&A and litigation representation. Clients include Akamai, Alstom, Avon, Beiersdorf, Estee Lauder, and oil drilling equipment company NOV Downhole Kazakhstan. Dinara Tanasheva heads the 17-lawyer team. Dinara Salikhzyanova is recommended by clients.

Integrites’ ‘excellent’ six-lawyer team displays ‘efficiency and clarity’, and frequently acts in litigation. Recent work includes advising ENI on labour law issues; assisting Alfa-Bank with matters including litigation versus a borrower; and acting for Gazprom Neft – Kazakhstan in an anti-monopoly case. Kurmangazy Talzhanov and Svetlana Shtopol have ‘in-depth knowledge and give good advice’.

KPMG Tax and Advisory LLC has a responsive team spread across offices in Almaty and Astana. Tax and customs law compliance are key elements of the practice, along with some work on corporate transactions including due diligence. Valeriy Shatov heads the tax team and Saltanat Dauletova now heads the legal team after Adam Kaucher moved to Dentons.

Corporate and tax law are the core strengths of Linkage & Mind LLP’s practice, which also covers litigation, construction and mining. The firm has recently acted for China Development Bank, Fortis Mining, Sembol Construction, Sumitomo, and Tau-Ken Samruk. Madina Sypatayeva is the managing partner.

Four-partner Signum Law Firm’s core focus is oil and gas and natural resources, primarily for foreign companies. Dispute resolution constitutes an increasingly significant portion of the practice, while other work includes advising FMCG sector companies on corporate, commercial and tax law. Managing partner Sofiya Zhylkaidarova and Abylkhair Nakipov are the key figures.

Synergy Partners Law Firm LLC’s ‘very professional’ team is recommended for its good corporate practice, which has been involved in numerous significant acquisitions and investments. Alzhan Stamkulov is ‘fast to react, a very good English speaker, and has experience in international deals and deep knowledge of the local environment’.

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments in Kazakhstan

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Mergers & Acquisitions

    Read more...
  • Acquisition of goods, works and services in subsurface use: Q&A.

    Kazakhstan's Government continues its policy on attracting the local and foreign investors to develop country's rich mineral reserves. For coordinated working environment, except political stability, investment climate, investors also need well-developed and reasonable legal system.
  • Court Practice and Tax Risks for Subsurface Users in Kazakhstan

    The tax legislation is one of the most dynamically developing areas of law in Kazakhstan. Since the beginning of its formation the taxation system has suffered numerous changes due to both the continuous process of simplification and improvement of administrative procedures, elimination of gaps and ambiguities, the need to regulate new activities, encouragement of the development of certain sectors, and the fundamental change of conditions of taxation and codification of legislation.
  • M&A in Kazakhstan

    M & A transactions in Kazakhstan, as they are usually defined in international practice, when two giant companies merge into one global firm, do not take place in the country. Rather, it is a method of the entrance to the Kazakhstan market of foreign corporations, which make it through the purchase of a local company. Today, in connection with the development of special economic zones that provide attractive tax and customs benefits, the interest in the establishment of industrial production facilities there increased. They are also carried out by M & A transactions.
  • Gas industry in Kazakhstan

    Kazakhstan's key industrial sectors are oil and gas, mining, electricity, transport and communications, chemicals and pharmaceuticals. These sectors were recognised as development priorities in the Government Programme for Accelerated Industrial-Innovative Development (2010 – 2014) (the "Programme"), the aim of which is to diversify the Kazakh economy and modernise industry. Therefore, in 2012, the major changes to the gas sector in Kazakhstan were a result of the Law on Gas and Gas Supply (the "Law on Gas") and appointment of KazTransGas JSC as the sole national operator.
  • Overview of Legislation concerning the State Support of Industrial and Innovation Activities

    This article is prepared by Miran Maulenov, Cand. Sc Law, Managing Partner of Olympex Advisers LLP . For further information please email to Miran.Maulenov@olympex.kz
  • Transfer of the subsoil use right in Kazakhstan: risks and recommendations overview

    This article is prepared by Yessen Massalin, Head of Corporate practice. For further information please email to yessen@olympex.kz  
  • REVIEW OF SIGNIFICANT CHANGES REGARDING CUSTOMS UNION AND SINGLE ECONOMIC AREA

    In this issue we would like to draw your attention to the review of significant changes regarding Customs Union and Single Economic Area.
  • FOREIGN STOCK EXCHANGE

    Hereby we inform you Article 22-1 of Law of the Republic of Kazakhstan No. 461-II dated 2 July 2003 "On securities market" was amended effective from 1 February 2012.
  • LOCAL CONTENT REQUIREMENTS: POTENTIAL LIABILITY

    Ministry of Oil and Gas for the first time to impose the fines on the companies which are in breach of local content requirements.

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • VEGAS LEX on structuring venture deals

    On September 25, 2014, the VEGAS LEX law firm, the VEB Innovations Fund and the Innovation and R&D Directors Club (IR&D club), organized a roundtable conference,  Corporation - Startup: Reaching for Mutually Beneficial Cooperation . The event was supported by Russian Venture Company.
  • VEGAS LEX experts speak at Federal Road Agency Board on PPP projects and contract system

    On September 18, 2014, the Federal Road Agency (Rosavrodor) Board met in Sochi before the Sochi-2014 International Investment Forum. The VEGAS LEX experts attended the meeting.
  • AstapovLawyers Holds Compliance Workshop for Energoatom

    On 12 September 2014, AstapovLawyers has held a Compliance Workshop for employees of Energoatom, a national nuclear energy generating company.
  • AstapovLawyers Successfully Represents Delta Bank

    AstapovLawyers has successfully represented Delta Bank, one of the major Ukrainian banks, in a USD 71 million dispute against a Ukrainian tycoon, an owner of a significant agricultural group of companies in Ukraine.
  • Ivan Lishchyna Speaks on Practical Problems of International Arbitration in Ukraine

    Kyiv, 23 September 2014 -  Ivan Lishchyna , Counsel, has taken part in the conference and students seminar "The relationship between alternative dispute resolution and ordinary courts: New trends in the Ukraine, Germany, Poland and other countries" organized in terms of collaboration with Institute for Eastern European Law, Munich. The event took place in the Institute of Legislation of the Verchovna Rada of Ukraine on September 8 - 10, 2014.
  • Luxembourg - Cayman Private Equity Structures

    Fund formation
  • Issues for trustees of Guernsey trusts when foreign couples divorce

    This briefing is intended to provide a general overview of some of the issues to be considered by trustees of Guernsey trusts and their advisers when foreign couples connected with the trust divorce.
  • Zavadetskyi Advocates represented Canadian citizen on defense side

    In January 2014 - July 2014 Zavadetskyi Advocates advised and represented a Canadian citizen who had been imprisoned in Ukraine for serious crime and criminal investigation against whom raised many questions as to its integrity and impartiality. Along with their client, Zavadetskyi Advocates also advised a US charitable institution that provides social services internationally to people in crisis situations. The client has been released from the sentence several years before time and was able to leave Ukraine.    
  • Luxembourg Corporate - Foreign direct investment - Structuring the equity

    As one of the leading global jurisdictions for structuring foreign direct investment (FDI), Luxembourg has developed a sophisticated framework to enable the financing of such investments.
  • Azmi & Associates advises on Biodiesel Plant Acquisition

    Azmi & Associates recently advised Felda Global Ventures Holdings Berhad (‘FGVH') in a corporate transaction via its subsidiary, Felda Global Ventures Downstream Sdn. Bhd. (‘FGVD') in a joint venture agreement involving two other parties namely M2 Capital Sdn Bhd. (‘M2 Capital') and Benefuel International Holdings S.A.R.L. (‘Benefuel') which is a subsidiary of Benefuel US, through which an SPV will be incorporated to acquire a biodiesel plant. The JV company has agreed to acquire a biodiesel plant ("Plant") located at Gebeng, in the East Coast of Peninsular Malaysia from Mission Biofuels Sdn. Bhd. (‘MBSB') for a USD twenty two million and five hundred thousand (USD 22,500,000.00) (‘Plant Acquisition') under a Plant Purchase Agreement. The shareholding of FGVD, M2 Capital and Benefuel in the JV Company shall be 60% for FGVD, 20% for M2 Capital and 20% for Benefuel. The estimated project cost for the proposed joint venture including the Plant Acquisition, licensing costs, purchase of catalyst, refurbishment and retrofit shall be USD forty seven million and five hundred thousand (USD 47,500,000.00). The nature of business of the JV Company shall be manufacturing and producing biodiesel using the retrofitted Plant and other ancillary activities.