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Saudi Arabia > Law firm and leading lawyer rankings
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Legal market overview
Following a sustained fall in oil prices, the Saudi government recently unveiled its national transformation plan Vision 2030, which aims to reduce dependency on oil, diversifying the economy through developing the health, education, infrastructure and tourism industries. The plan’s key objectives include the promotion of PPPs and the privatisation of certain government entities. Some regional investors have already shown willingness to participate in the diversification and this has been a source of work for law firms.
There are also several major restructurings taking place, including some formal insolvency proceedings. Concerns over regional stability and the war in Yemen also mean that projects are being put on hold, with funds being diverted to the defence sector.
Like many countries in the Gulf, the legal market is populated by a mix of international and local law firms, although complete foreign ownership is prohibited. International firms must therefore operate in association with a domestic firm, but with varying levels of integration. Recent combinations include Shearman & Sterling LLP in association with Dr Sultan Almasoud & Partners and The Law Office of Nasser Al-Hamdan in association with Herbert Smith Freehills. The legal hub is the capital Riyadh, but firms also have offices in Jeddah and Mecca, as well as Al Khobar, where many of the large energy companies are based.
The In-House Lawyer
International comparative guides
In association with a leading international law firm, Legalease are producing a series of online country comparative legal guides, designed to give the in-house community greater insight to the law and regulations in unfamiliar jurisdictions.
Legal Business: country analysis
Behind the veil – Can Islamic finance live up to the sales pitch?
Islamic finance flourished during the downturn and has
emerged as a significant practice for both Middle East and international firms. How sustainable is the workflow and what lies ahead for the key players?
Click here to read the feature.
Client insight -
Bridging the Gulf
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Search News and Articles
by Jeremy Scott - firstname.lastname@example.org
It is possible for a works council to push through the dismissal of an employee, as demonstrated by a recent ruling of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court, from March 28, 2017 (Az.: 2 AZR 551/16).
Aziz Rahman explains what those trading internationally need to do to ensure they are not targeted by money launderers.
Health claims in relation to mineral water need to be consistent with the Health Claims Regulation. This was confirmed by the Bundesgerichtshof (BGH), Germany’s Federal Supreme Court, in its ruling of January 30, 2017 (Az.: I ZR 257/15).
On April 25, 2017, American Chamber of Commerce in Serbia and Law office Stankovic and Partners organize a Briefing Session on Data Protection in Arbitration Cases. This event is intended for all the peers interested in finding our more about the challenges with document discovery in arbitration procedure, from the standpoint of data protection issues, local laws and regulations, including international practice. Also, this opportunity will be used to explain data protection during discovery process, including the best international practices. Special emphasis will be placed on the framework of Article 48 of the new EU law (applicable as of May 2018), as well as other relevant issues. The speakers will be Andrej Savin, Associate Professor, Copenhagen Business School, Philip Punwar, Partner at Baker Botts LLP, expert in international arbitration, and Nenad Stankovic, Attorney at Law, Stankovic and Partners.
VEGAS LEX discusses opportunities and problems of Special Investment Contracts at Northern DimensionVEGAS LEX Partner Evgeniy Rodin and Commercial group associate Anastasia Cheredova spoke about the use of various investment options in the energy and pharmaceutical sectors at the Northern Dimension Forum in St. Petersburg.
With the government looking at how to change the law when it comes to prosecuting companies, Aziz Rahman considers the possibilities.
Ben Ticehurst explains why new regulations regarding company payment practices are a sharp reminder of the need to be legally compliant.
With the housing market facing further scrutiny regarding money laundering, Aziz Rahman outlines what those working in the property sector must do to stay within the law.
Post-contractual prohibitions on competition that do not provide for compensation for this period, i.e. a waiting allowance, are null and void. That was the verdict of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court, in its ruling of March 22, 2017 (Az.: 10 AZR 448/15).
VEGAS LEX has been recognized in seven categories and four of VEGAS LEX experts has been ranked on the Chambers Europe 2017 international ranking of the best law firms and lawyers around the world.