The Legal 500

Spearheaded by the ‘excellent’ Adly Bellagha, Adly Bellagha & Associates remains at the pinnacle of the Tunisian legal market as a result of its consistent involvement in many of the country’s most significant mandates. In addition to receiving a steady flow of referral work from Clifford Chance, the firm is also regularly instructed by Citibank across a range of mandates including escrow agreements and securities lending. Recent highlights include advising the African Development Bank on a $150m loan to a state-owned oil and gas company to finance its first investments outside of Tunisia.

Ferchiou & associés has a strong reputation for finance work as is evidenced by its roster of international banks including BNP Paribas, JPMorgan, Goldman Sachs, Citibank and Standard Chartered. The firm has been particularly busy advising on projects and energy financings, such as its recent work for a state oil company on a $150m loan. On the capital markets side, the firm has advised a number of international banks on derivatives transactions with Tunisian counterparts. Former in-house counsel at BNP Paribas, Maya Boureghda is recommended.

Abdelly & Associates North Africa provides expertise across an array of financing methods, including secured and syndicated loans, structured finance, leasing and tax-based finance. The team is instructed by a number of international banks including Credit Suisse, BNP Paribas and Bank of Nova Scotia.

One of the oldest firms in the country, Caid Essebsi & Partners has established a ‘very strong reputation for advising on financings often with an international flavour’. Salaheddine Caid Essebsi is ‘vastly experienced’ and has excellent credibility in the market.

The ‘responsive and business sensitive’ Cabinet Donia Hedda Ellouze provides a ‘highly appropriate and value for money service’ to domestic and international banks across a range of financing activities, including acquisition finance and project finance. The firm is advising the buyer in relation to the privatisation of a domestic bank, as well as representing a large foreign bank on the preparation of various loan agreements. The ‘excellent and experienced’ Donia Hedda Ellouze ‘knows the law very well, is very well-connected and is a tough negotiator’.

At Gide Loyrette Nouel, partner in charge of the Tunis office Kamel Ben Saleh has a notable background in finance, and leads the firm’s work across a diverse spectrum of transactions including acquisition, project, asset and structured finance. Other work includes advising local financing institutions on the development of new financial products, as well as representing corporates on capital markets mandates.

Since its formation in 2009 by two former financing partners of Ferchiou & associés, Meziou Knani & associés has rapidly established itself as a significant player in the market. Ghazi Meziou has an excellent pedigree for advising on major financings and was recently involved in the financing of a Tunisian airport.

Ben Salem Law Firm’s Bessem Ben Salem handles a significant amount of work for international clients investing in Tunisia.

Perhaps better known for its corporate expertise, Cabinet Malouche’s finance clients include a local insurance group, as well as a French bank.

Mamoughli & Mamoughli Avocats provides a ‘very good level of expertise’ across a range of finance issues and in Abdellatif Mamoughli, the firm has one of the country’s foremost insurance lawyers.