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Afridi & Angell

JUMEIRAH EMIRATES TOWERS, OFFICE TOWER, LEVEL 35, SHEIKH ZAYED ROAD, PO BOX 9371, DUBAI, UNITED ARAB EMIRATES
Tel:
Work +971 4 330 3900
Email:
Web:
www.afridi-angell.com
Abu Dhabi, Dubai, Sharjah

United Arab Emirates

Banking and finance
Banking and finance - ranked: tier 3

Afridi & Angell

At Afridi & Angell, ‘the partners understand the local terrain and lend their opinion on the potential implications in the less transparent areas of the law’. Senior consultant Amjad Ali Khan is ‘an authority on banking and finance’ – he and Stuart Walker advised Emirates on the sale and leaseback of five flight simulators. Bashir Ahmed is ‘a highly experienced and seasoned professional’ – he advised Damas Real Estate on a restructuring of existing loans. Masood Afridi heads the project finance side of the practice. Also recommended are Charles Laubach, who is noted for his trade finance expertise, and senior associate Vivek Agrawalla.

Leading individuals

Amjad Ali Khan - Afridi & Angell

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 3

Afridi & Angell

Afridi & Angell, which handles M&A deals and local corporate and commercial work, ‘provides excellent service from commercially astute and experienced lawyers’. Bashir Ahmed is advising Amazon on regulatory matters regarding its product range in the UAE. James Bowden, who is ‘practical and knowledgeable’, advised Yoox Net-A-Porter Group on a joint venture with Symphony Investments, using a DIFC trust structure. Shahram Safai and senior consultant Amjad Ali Khan are also key contacts.

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Employment
Employment - ranked: tier 3

Afridi & Angell

Afridi & Angell represents employers and employees in a range of contentious and non-contentious matters. Stuart Walker advises a private client in a case regarding employment status before the Dubai courts, while Charles Laubach handles advisory matters and DIFC employment litigation. Bashir Ahmed advises BGRS on legal issues regarding its employees in the Dubai Multi Commodities Centre.

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Energy and infrastructure
Energy and infrastructure - ranked: tier 4

Afridi & Angell

In addition to its experience handling project financing and district cooling matters, Afridi & Angell is noted for its particular strength in energy matters related to Pakistan. Masood Afridi advised Hawa Holding on the development of a 50MW wind project in the Jhimpir wind corridor.

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Islamic finance
Islamic finance - ranked: tier 3

Afridi & Angell

Afridi & Angell acts for a number of Islamic banks and ‘places an emphasis on long-term objectives and building lasting client relationships’. In addition to his workload involving wakalas and sukuks, Bashir Ahmed advised Ajman Bank on a $250m facility provided by a syndicate of other banks through a commodity murabaha. Other clients include Al Hilal Bank and Noor Bank. Rahat Dar is a senior associate of note.

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Real estate
Real estate - ranked: tier 2

Afridi & Angell

Afridi & Angell has a track record advising local and international investors on projects in the UAE. Shahram Safai advised China Lesso on the AED1bn purchase of a plot of land for the construction of a shopping centre. Other highlights concern leasing and real estate funds.

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Shipping
Shipping - ranked: tier 4

Afridi & Angell

At Afridi & Angell, Bashir Ahmed acts for a number of shipowners, and handles vessel arrests, superyacht transactions and limitation fund matters.

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United Arab Emirates: Dispute resolution

Arbitration and international litigation
Dispute resolution: arbitration and international litigation - ranked: tier 3

Afridi & Angell

Afridi & Angell has ‘a small but very knowledgeable arbitration team’, which ‘provides good advice and guidance in managing clients’ legal issues’. Haider Afridi handles matters ranging from debt recovery, commercial covering both arbitration and expert determination as well as DIFC and cross-border litigation. Counsel Chatura Randeniyaprovides strong common-sense guidance and exhibits broad local knowledge’.

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Further information on Afridi & Angell

Please choose from this list to view details of what we say about Afridi & Angell in other jurisdictions.

Legal Developments by:
Afridi & Angell

  • Cautious Optimism on 100 per cent Foreign Ownership

    Recent media reports have suggested that 100 per cent foreign ownership of companies in the UAE will now be permitted. The reports are based on a government press release regarding a UAE Federal Cabinet (Cabinet) meeting held on 20 May 2018.
    - Afridi & Angell

Legal Developments in United Arab Emirates

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Cautious Optimism on 100 per cent Foreign Ownership

    Recent media reports have suggested that 100 per cent foreign ownership of companies in the UAE will now be permitted. The reports are based on a government press release regarding a UAE Federal Cabinet (Cabinet) meeting held on 20 May 2018.
  • Thoughts on the Extradition Rules under the UAE Laws

    This article assesses the feasibilities and outline of the process of extradition in the UAE. The article also reviews how extradition succeeds through judicial collaboration internationally.
  • Arbitration Article Series V: Challenging an Arbitration

    In this case the losing party will file an annulment case. However, it may be possible to argue that the parties have accepted the tribunal’s jurisdiction, or have waived any right to object, or have lost that right by not objecting at the first opportunity.
  • Investors win Dh84m claim against developer in Dubai

    A Dubai developer has been ordered to pay three men Dh84m after they failed to deliver villas the men had purchased from a housing project near Dubai Land.
  • The Public-Private Partnership Law Review 3rd Edition

    The Philippine chapter of The Public-Private Partnership Law Review 3 rd edition was contributed by SyCipLaw partners Marievic G. Ramos-Añonuevo and Arlene M. Maneja . The chapter includes information on public-private partnerships (PPPs) in the Philippines, including general framework, bidding and award procedure, contractual arrangements, financing, and recent developments and decisions.
  • Arbitration Article Series IV: Enforcing Arbitration Awards

    In this case the losing party will file an annulment case. However, it may be possible to argue that the parties have accepted the tribunal’s jurisdiction, or have waived any right to object, or have lost that right by not objecting at the first opportunity.
  • Arbitration Article Series I: Rise of Arbitration

    The UAE has rapidly emerged as a leading financial centre, attracting large global investors and businesses. As international developers and contractors continue to invest in construction projects, there has been an increasing trend in the use of arbitration in Dubai. The arbitration process is the preferred method to resolve disputes by commercial companies. As the certified language of arbitration proceedings is in English, a specialist tribunal can be appointed as opposed to the more broad UAE courts, and arbitration is generally more cost-effective and less time-consuming. This has led businesses and investors in the UAE to ensure that arbitration clauses or agreements are inserted into their contracts. Furthermore, the downturn in economic conditions in the real estate market over the past few years has led to an increase in disputes in general, and parties are more likely to issue court proceedings than to try to recover their losses through other ventures.
  • Arbitration Article Series II: Appointing Arbitrators

    An arbitrator can be appointed directly by name (this is not the common method used), through the court or through the arbitration centre. If you agree for the court or arbitration centre to appoint an arbitrator you need to make an application. The arbitration provisions of the Civil Procedure Code contain mandatory provisions concerning the appointment of an arbitrator. There must be an odd number of arbitrators, although there is no limit set on the number of arbitrators.
  • Arbitration Article Series III: Terms of References

    Parties wanting to enforce an award under the New York Convention must satisfy the requirements of the UAE Civil Code. In practice, enforcing arbitration awards can be a lengthy and unpredictable process. It is common for the UAE courts to require the foreign award to satisfy the rules and procedures of the UAE, and they may refuse to enforce it if there is a violation of local laws. One potential difficulty arises in convincing the UAE court that it did not have jurisdiction to hear the dispute in the first place (irrespective of the arbitration agreement between the parties). The UAE courts normally have a fairly broad jurisdiction over disputes including, for example, claims connected to money or assets within the UAE and claims arising out of contracts executed or to be performed in the UAE, as well as claims over foreigners who are resident in the UAE. Therefore, it is difficult to prove that the UAE court did not have jurisdiction over the order.
  • An Introduction to Corporate Guarantee

    In the UAE, the risk management activities inherent in running a corporate or investment banking business remain of crucial importance, not least because of the strong local characteristic of “name lending”, by which is meant lending or providing other banking facilities to family or other private businesses, primarily on the strength of the “name” or “names” of the proprietors standing behind the business, rather than on the strength of the asset quality and underlying credit of the particular business. Of course, in practice, there is commercial overlap between the proprietors and the companies which they own, but the credit analyses can break down where poor banking practices and procedures result in poorly constructed legal documentation and gaps in guarantee and security support documents.