The Legal 500

Despite being a relatively new entrant, Ahmed & Qazi’s market profile is rapidly growing. Its team advises on a wide range of banking and finance issues and provides ‘viable, sustainable solutions’. It acted for Meezan Bank Limited in Pakistan’s first two issues of short-term, Shari’ah-compliant sukuks, each valued in excess of Pr1bn. Senior Partner Nadeem Ahmed is ‘a great strategist’. The ‘knowledgeable’ Saim Hashmi and Jam Asif are also recommended.

Lahore-based Chima & Ibrahim is a ‘quality’ niche firm that acts for multinational corporate clients such as JP Morgan, Kraft, Toyota Motor Company and Pepsi Cola International (Private) Ltd. In the last year, it has acted on a number of syndicated financing transactions for Fatima Group and Pakistan Mobile Communications Ltd (“Mobilink”), and acted for Mobilink in its international bond offering and partial buyback. Salman Chima and Khalid Ibrahim are recommended.

Cornelius, Lane & Mufti advises borrowers and lenders, including local and foreign banks, on syndicated, structured and non-interest mode finance transactions from its Lahore office. It assisted with the overall launch of the sukuk finance programme in Pakistan and continues to advise on sukuk bond issuances. It also recently advise on structuring receivable securitisation transactions. Salman Aslam Butt and Shehzad Ata Elahi are recommended.

Haidermota & Co represents both domestic and international clients and is known for undertaking complex, multibillion-rupee project finance transactions. The firm represented Engro Chemical Pakistan Ltd in raising approximately $1bn debt financing through foreign, local and Islamic finance facilities in both foreign and domestic currencies. Khozem Haidermota is recommended.

Liaquat Merchant Associates advises national and international banks on finance transactions, wealth management, legal audits and regulatory issues. It is currently advising on the development, structure and drafting of documents for the newly launched Istisna product. The ‘insightful’ Faresa Ahsan heads the team. Liaquat Merchant is also recommended.

Mandviwalla & Zafar regularly advises local and foreign banks on multi-currency and bilateral facilities, Islamic finance, local andcross-border syndications, and securedand unsecured transactions. It successfully represented ORASCOM (Egypt) in obtaining licenses for the establishment of Waseela Microfinance Bank Ltd and TCS Microfinance Bank Ltd. Mehmood Mandviwalla is recommended.

Mohsin Tayebaly & Co’s team offers ‘precise and comprehensive’ advice, and specialises in multibillion-rupee finance facilities, including foreign currency, syndicated term, multiple term, and Musharaka facilities, and is undertaking a significant amount of work in debt restructuring. It acted on behalf of the lenders and investors in the landmark Pr10.3bn debt-based local vessel acquisition. Irfan Tayebaly has ‘vast industry experience’ and is ‘practical and solution-oriented’. Mehreen Manto is also recommended.

Orr, Dignam & Co represents national and multinational clients in both private and public sectors across a broad range of transactions. It has acted in complex transactions involving export credit agencies, Islamic banks and financial institutions, multilateral institutions and government agencies. Recent work includes advising on facilities for the replacement of Pakistan National Airlines’ fleet. Maudood A Khan heads the team, and Asim Nasim is also recommended.

Kabraji & Talibuddin is best known for undertaking major power project finance work for banks. Clients include IFC. Kairas Kabraji is recommended.

Mujtaba Jamal Law Associates is regularly instructed by international banks. It advises on debt recovery matters, as well as on legal strategies for non-performing assets. It recently advised a UAE bank on the regulatory framework and requirements for obtaining a license to establish a banking presence in Pakistan. Mujtaba Jamal is the name to note. Mohammad Zakaullah and Jamal Mamdot have retired.

Rizvi, Isa, Afridi & Angell has a particular focus on projects and energy financing, and has acted for lenders and borrowers in transactions valued in excess of Pr10bn. It recently acted for OMNI Power (Private) Ltd in the multilateral financing of a 12.8MW gas-fired thermal captive power plant in Sindh. It also advised Pakistan State Oil on its Pr1bn Murabaha facility. Senior partner Ahsan Rizvi is recommended.

Surridge & Beecheno advises national and multinational banks in syndication and workout matters, credit facilities, and Pakistan regulatory issues. Clients have included Citibank, Credit Suisse, Emirates Bank International and National Bank of Pakistan. Khalid Rehman is recommended.

Vellani & Vellani assists financial institutions on financing major power and infrastructure projects. It also advises on share flotations, offshore and onshore syndicated loans and credit facilities. Badaruddin F Vellani is the key contact.