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Legal market overview
Despite its large oil revenues, Kuwait’s economy has struggled in the aftermath of the global financial crisis. Political instability has also contributed to a relative lack of deals, although there have been signs of gradual improvement as a result of determined government initiatives to attract foreign investment. Financing is picking up and there has been increased M&A activity, not least due to a push by the Kuwaiti government to reform laws and strengthen the private sector. Changes in the legal framework governing shareholdings has encouraged investors and the new legislation has increased the volume of queries to law firms, particularly with regard to potential disputes. Development and restructuring work continues to keep firms occupied as the economy recovers.
DLA Piper Kuwait in Association with (NEN) Al-Wagayan, Al Awadhi and Al-Saif has gone from strength to strength and its expanding team is a secure international presence in the market. With its mix of domestic and international expertise, ASAR – Al Ruwayeh & Partners remains the dominant local firm with a consistent portfolio of work. International Legal Group in association with SNR Denton & Co closed its office in Kuwait.