The Legal 500


Editorial sections

Index of tables

  1. Legal market overview
  2. Leading individuals

Leading individuals

    • Umid Aripdjanov – Colibri Law Firm
    • Ilkhom Azizov – Azizov & Partners
    • Azamat Fayzullaev – Leges Advokat
    • Mouborak Kambarova – Dentons
    • Nizomiddin Shakhabutdinov – Leges Advokat
    • Sofiya Shakhraziyeva – Colibri Law Firm

The legal market is largely reliant on work pertaining to oil and gas and natural resources, related trade, and the government’s active promotion of large-scale energy and transport infrastructure projects. The government is attempting to diversify industry, although this policy has yet to yield substantial mandates.

Full-service firm Azizov & Partners has ‘a very strong practice’, and deep experience in project-related financing and corporate matters. It also represents multinational clients in broad-ranging matters including regulatory, corporate, tax and labour law advice. The firm acts for various subsurface industry companies and has, for example, been advising on aspects of the Uzbekistan section of the Central Asia-China gas pipeline. It also has substantial experience acting on behalf of various technology companies, such as Hewlett-Packard or IBM, as well as pharmaceuticals companies including Merck Sharp & Dohme. It is frequently referred work by major international law firms. Managing partner Aziz Aripdjanov is recommended along with Ilkhom Azizov, who is ‘an outstanding lawyer in the market’.

Colibri Law Firm has a strong record in infrastructure and energy projects, in addition to which it provides a full spread of other contentious and non-contentious legal services. It advised China Development Bank on a project financing; conducted due diligence for Asian Development Bank (ADB) on its proposed purchase of shares in Ipak Yuli Bank; and served as local counsel alongside Norton Rose Fulbright to advise ADB and other lenders on the $4.5bn Uz-Kor gas/chemical plant. Recommended partners Ravshan Rakhmanov and oil and gas expert Umid Aripdjanov acted alongside Curtis, Mallet-Prevost, Colt & Mosle LLP in an ICSID arbitration case, Adem Dogan vs Republic of Turkmenistan. Sofiya Shakhraziyeva is ‘one of the few true experts in project finance in Uzbekistan’. Otabek Suleimanov is also recommended.

Legalmax Law Firm is especially notable for the strength of its market-leading IP practice, which it combines with corporate, commercial and dispute resolution services. Clients include numerous pharmaceuticals companies and oil and gas industry clients, and the firm has also recently represented a number of international café and restaurant chains in IP enforcement proceedings against infringers. The team advised Fordia, a Canadian drilling and mining equipment manufacturer, as a creditor in restructuring of debts owed to it by a state authority. Managing partner Muhammadali Makhmudov is recommended. Djakhangir Aripov, who is based in Almaty, Kazakhstan, is routinely involved in IP mandates in Uzbekistan. Litigator Tatyana Lee and senior associate Olga Atik are also key figures. Jakhongir Azimov and several associates left the firm.

Leges Advokat’s seven-lawyer practice ‘produces high-quality work’. It provides full-service support to clients and acts as local counsel to international law firms. Recent instructions include representing various banks in financings: for example, advising ADB on the financing of a social housing project and acting as local counsel to White & Case LLP’s Beijing office on China Development Bank’s $100m financing of JSC Uzbektelecom. The firm provides broad-ranging legal advice to Uz-Kor Gas Chemical LLC, GlaxoSmithKline, Coca-Cola and Philip Morris. On the IP side, it recently assisted Nokia Solutions and Network (formerly Nokia Siemens Network) with its rebranding. Nizomiddin Shakhabutdinov and Azamat Fayzullaev are recommended.

Managing partner Saidazizkhuja Saidkhodjaev and corporate partner Umid Ubaydullaev are the key contacts in ASG Law Firm’s full-service practice, which centres on corporate, commercial and project finance mandates. Clients include Mitsui & Co, PricewaterhouseCoopers and a number of international development banks.

Avent Advokat has a full-service offering. In particular, it provides general legal services to oil and gas exploration and production companies and related services providers. Other lines of work include advising hotels and retailers on construction law and corporate matters, and pursuing debt enforcements for creditors. Eldor Mannopov is the managing partner.

Dentons inherited SNR Denton’s small Tashkent office, which mainly focuses on energy and natural resources work. ‘Outstanding’ managing associate Mouborak Kambarova is supported by colleagues in Kazakhstan.

GRATA Law Firm staffs its Tashkent office with three counsels, providing a range of financing, natural resources, telecoms, construction and infrastructure services. Recent work includes advising Japan Bank for International Cooperation and Deutsche Bank on issues concerning sovereign lending. The team also assisted a Chinese client with setting up a factory.

Mukhamedjanov & Partners assists international investors, manufacturers and service providers with projects or corporate transactions as well as general legal advice and representation. Clients include the European Bank for Reconstruction and Development, Uzbekenergo (the national energy utility) and Alfa Group. The key figures are Davron Khasanov and managing partner Ibrahim Mukhamedjanov.

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 Uzbekistan

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

    On 17 September 2009, Uzbekistan adopted amendments to the Law “On Medicines and Pharmaceutical Activity” of 25 April 1997, as amended (the “Law on Medicines”), and corresponding amendments to the “Criminal Code” of the Republic of Uzbekistan of 22 September 1994, as amended (the “Criminal Code”), to the “Criminal Procedure Code” of the Republic of Uzbekistan of 22 September 1994, as amended (the “Criminal Procedure Code”), and to the Code of the Administrative Responsibility of the Republic of Uzbekistan of 22 September 1994, as amended (the “Administrative Responsibility Code”).
  • Doing Business in Uzbekistan 2009

    Doing Business in Uzbekistan 2009 has been prepared as a general guide for companies operating in or considering investment into Uzbekistan. It is intended to present an overview of the key aspects of the Uzbek legal system and regulation of business activities in Uzbeksitan.
  • Doing Business in Uzbekistan 2008

    Doing Business in Uzbekistan has been prepared as a general guide for companies operating in or considering investment into Uzbekistan. It is intended to present an overview of the key aspects of the Uzbek legal system and regulation of business activities in this country.

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
  • Exempted Limited Partnership Law, 2014

    The Exempted Limited Partnership Law, 2014 (the New ELP Law ) has replaced the Exempted Limited Partnership Law (2013 Revision) (the Previous Law ). The New Law includes significant changes to the Cayman Islands' statutory framework regulating exempted limited partnerships ( ELPs ) that will increase the attractiveness of ELPs and will be appreciated by managers, investors and creditors alike. Private equity sponsors in particular will notice substantial improvements that are indicative of Cayman's continuing commitment to balanced and commercially sensible legislation. Read more...
  • Restructuring and insolvency in Luxembourg (part 2)

  • Enhancements to the Companies (Jersey) Law 1991

    On 23 May 2014, the States of Jersey passed the Companies (Amendment No. 11) (Jersey) Law 201- (the Amendment Law ).  This will now be sent to the UK Privy Council for consideration, then laid before the States of Jersey for a final time before coming into force.  The latest information we have is that the Privy Council will be approving the law on 19 July 2014 and it may come into effect as soon as 4 August 2014.
  • Joost Fanoy appointed partner at BarentsKrans

    The Hague, 4 July 2014 - BarentsKrans has appointed Joost Fanoy as a partner in the Antitrust & Public Procurement department, effective as of July 1, 2014. Joost specializes in European law in general with a particular focus on European and Dutch competition, public procurement and state aid law and is the head of the Antitrust and Public Procurement Practice Group. Joost is also a member of the Cartel damages team of BarentsKrans.
  • PineBridge Acquires 50% Stake in Romatem

    PineBridge Investments Middle East, a global multi-asset class investment manager with regional headquarters in Bahrain, and nearly 60 years of experience in emerging and developed markets, has acquired a 50% equity stake in Romatem, the leading physical therapy and rehabilitation services chain in Turkey.
    - Paksoy
  • Isbank Issued USD 750 Million Notes

    Isbank issued 750 million USD notes under its GMTN programme established in 2013. The notes are listed on the Irish Stock Exchange and bear interest at the rate of 5 % with a maturity date 2021. Mr. Omer Collak (partner) and Mr. Baris Kencebay (head of tax practice) have acted for the joint lead managers Barclays, Citigroup, HSBC, National Bank of Abu Dhabi and The Royal Bank of Scotland.
    - Paksoy
  • Halkbank Issued USD 500 Million Notes

    Halkbank issued five-year term fixed interest rate US currency notes, with a total amount of USD 500 million  with an interest rate of 4.765 %  and an annual coupon rate of 4.750 %. The notes offered the lowest borrowing rate in the first five-month period of 2014, and total demand rose nearly nine-fold due to high investor interest. The note issuance drew great interest from international investors settled in the Middle East and Asia, as well as those investors based in the US and Europe. Mr Omer Collak (partner) and Mr Baris Kencebay (head of tax practice) have advised the joint lead managers.
    - Paksoy
  • Turkiye Finans to Issue Ringgit Sukuk to Raise Up to MYR 3 Billion In Malaysia

    Turkiye Finans issued the first ringgit sukuk originating from Turkey. The bank initially raised MYR 1 billion with a five-year commodity sukuk on June 30, with an annual return of 6 %. The sukuk under the programme will have tenure of one to 20 years. Funds raised will go towards general corporate purposes. The sukuk will be issued through TF Varlik Kiralama A.S., a wholly-owned subsidiary of Turkiye Finans. Malaysia's RAM Ratings has accorded the programme an indicative long-term rating of AA3. HSBC Amanah Malaysia and Standard Chartered Saadiq were the joint advisers. Mr Omer Collak (partner) and Mr Baris Kencebay (head of tax practice) have advised Turkiye Finans and the issuer TF Varlik Kiralama A.S.
    - Paksoy
  • Ziraat Bank Established GMTN Programme to Issue Bonds Worth USD 2 Billion

    Ziraat Bank, the largest state owned bank of Turkey, established GMTN programme on 21 May 2014, for the notes to be issued up to  USD 2 billion listed on Irish Stock Exchange. The notes are unconditional, unsubordinated and unsecured obligations, and rank  pari-passu with Ziraat Bank's other senior unsecured obligations.
    - Paksoy
  • Vakifbank Sells EUR 500 Million Notes Under USD 5 Billion GMTN Programme

    Vakifbank issued EUR 500 million 5-year unsecured and unsubordinated notes under the first GMTN programme of Turkey established in 2013. The notes are listed on Irish Stock Exchange and bear interest at the rate of 3.5 % p.a. with a maturity date 17 June 2019. This is the very first EUR denominated RegS offering of a Turkish entity.
    - Paksoy