Rising Stars

Banking and finance in Georgia

BGI Legal

Leveraging the knowledge of a number of highly experienced partners, the ‘responsive and knowledgeable’ team at BGI Legal has the critical mass and level of expertise to handle a broad range of mandates for lenders and borrowers. The firm is ‘an ideal choice on cross-border transactions involving a Georgian element’ because of its ability to effectively meld strong local knowledge with an international mindset. Dual New York and Georgian qualified Lasha Gogiberidze has the ‘ability to effectively handle challenging legal issues that financial institutions in Georgia may encounter,’ including capital markets and project finance work. Unana Gogokhia is adept at handling debt and equity capital markets work for issuers and underwriters, which she combines with a more general finance offering. The team is rounded out by Sandro Bibilashvili, who excels at handing project and energy financing transactions.

Practice head(s):

Lasha Gogiberidze; Unana Gogokhia

Other key lawyers:

Sandro Bibilashvili


‘The team is very responsive and knowledgeable.’

‘The lawyers are dedicated problem solvers, lateral thinkers, and are always willing to consider new approaches and angles.’

‘The BGI team is highly experienced in the Georgian market, making them a reliable and quality choice. It is an ideal choice on cross-border transactions involving a Georgian element.’

‘Lasha Gogiberidze possesses the ability to effectively handle challenging legal issues that financial institutions in Georgia may encounter.’

Unana Gogokhia is always available, easy to reach, responsive, and had in depth knowledge that she could apply to our case.’

‘The partners were reachable throughout the assignment and the team has been accommodating client requests.’

‘Unana and her team were more than happy to guide our team throughout the process, they were always available to answer questions and provide information, attend meetings with us and/or with our counterparty, advise what would be the best way for us to proceed.’

‘Unana is definitely the team member who is worth a special mention. She was always available, easy to reach, swift in responding, answerable to the work product and had in depth knowledge that she could apply to our case. We felt very comfortable working with her and the BGI team.’

Key clients



Green for Growth Fund

Global Climate Partnership Fund

ResponsAbility Investments AG




Merrill Lynch

J.P. Morgan


BNP Paribas


Goldman Sachs

Société Générale

Ceska exportni banka a.s.

Amsterdam Trade Bank

East-West United Bank

Procredit Bank

IQ option


Western Union


AC Maritime Lending

ACT Maritime LLC

Liberty Bank


TBC Bank




Bene Shipping & Star Shipping

Work highlights

  • Advised a multilateral development bank on its debut issuance of GEL denominated bonds.
  • Advised a number of lenders managed by a leading alternative capital provider to the shipping industry on financing of the borrower’s acquisition of sea vessels, with a total value of the deals over $40bn.
  • Advised a leading fintech platform on licensing and consumer protection regimes in Georgia.

BLC Law Office LLC

BLC Law Office LLC has the strength-in-depth to handle a significant volume of transactional and regulatory mandates for both lenders and borrowers. Advising on a significant amount of conventional bank financing work, including on large-scale infrastructure projects, the team, headed by newly promoted partner Rusa Tchkuaseli, has been at the cutting-edge of domestic capital markets work, including in relation to work on the first ever gender bond issued on the Georgian Stock Exchange. It has also been at the vanguard of the developing domestic fund market and since the passing of the new law promoting the sector, has been involved in the majority of all registrations with the National Bank of Georgia. Tamta Ivanishvili is a key contact and is best-known for her equity and debt capital markets mandates on both the local and international markets.

Practice head(s):

Rusa Tchkuaseli

Other key lawyers:

Alexander Bolkvadze; Ketti Kvartskhava; Giorgi Batlidze; Tamta Ivanishvili

Key clients

Georgia Capital

International Finance Corporation

Asia Development Bank


Pace Terminals



Gazelle Finance

Small Enterprise Assistance Fund

J.P. Morgan


TBC Capital

Small Enterprise Assistance Fund

Alpha Capital

Work highlights

  • Instructed by Cash Plus Fund to form the first virtual assets investment fund in Georgia.
  • Advised Asia Development Bank on the financing of the first ever gender bonds issued on the local Georgian stock market.
  • Acted as local counsel to a financial institution throughout the process of obtaining a digital banking license.


Leveraging the firm’s vast global resources, Dentons is a popular choice among international and domestic entities raising finance for myriad purposes. Capital markets and project finance work remains a strength, with dual UK and Georgia-qualified practitioner Avto Svanidze regularly advising corporate issuers on bond issuances and also being well-versed in handling work for International Financial Institutions (IFIs). Managing partner Otar Kipshidze co-heads the team alongside Svanidze and has a broad-based finance offering which includes regulatory knowledge, project finance and transportation finance expertise. Neli Tsivtsivadze has been an integral part of the firm’s success on the capital markets front, while Sopho Mebonia is adept handling project finance mandates.

Practice head(s):

Avto Svanidze; Otar Kipshidze

Other key lawyers:

Neli Tsivtsivadze; Sopho Mebonia

Key clients



ING Bank



Mizuho Bank Europe



Responsability Investments

J.P. Morgan Securities

Work highlights

  • Advised ADB, IFC and FMO on issuance of a $80m first-ever green secured bond offering by Georgian Renewable Power Operations.
  • Advised AFD on a credit facility with Georgia, in a maximum aggregate amount of €70m, to finance the policy and infrastructure components of the Program to Support the Development of Irrigated Agriculture in Georgia.
  • Advised ING Bank on a $130m Pledge agreement with Argomax Energy Group.

Gvinadze & Partners LLC

Under the guidance of Nick Gvinadze, Gvinadze & Partners LLC has developed strong ties with global financial institutions and international law firm referrers, ensuring that it has strong market visibility across a range of transactional and regulatory matters. A significant volume of these instructions flow from IFIs, including on its financing in relation to the ongoing development, construction and operation of a wind power plant in Georgia. Sophie Panjikidze regularly assists Gvinadze on key finance transactions and regulatory matters, including recent work for American Express on Georgian regulations related to payment systems and payment services applicable to their operations in the Georgian market.

Practice head(s):

Nick Gvinadze

Other key lawyers:

Sophie Panjikidze; Zakaria Shvelidze; Tornike Amilakhvari; Tinatin Javakhishvili

Key clients

European Bank for Reconstruction and Development

Asian Development Bank

American Express

Raiffeisen Bank

Export-Import Bank of China

Buren Legal

Viber Media

Score Capital

Klarna Bank

Nobel Oil Group

G-Core Labs


Global Benefits Group

China Development Bank (CDB)

Dreymoor Fertilizers Overseas Pte. Ltd.


Paysend Group

Work highlights

  • Acted for the European Bank for Reconstruction and Development in the financing of the largest wind power project in Georgia.
  • Advised the Asian Development Bank in relation to its $100m policy-based loan to the Georgian government, supporting reforms in the state-owned enterprises sector and helping to strengthen Georgia’s fiscal resilience to external shocks.
  • Advised American Express on Georgian regulations related to payment systems and payment services applicable to their operations in the Georgian market.

BLB (Business Legal Bureau)

Although it does handle some debtor mandates, BLB (Business Legal Bureau) is best-known for its work on behalf of commercial lenders and development banks providing finance to Georgian entities across a range of new money and refinancing settings. Project finance is a particular strength, with the firm regularly instructed by US development finance institution, DFC, on its work partnering with the private sector across a range of mandates including within the hospitality sector. Team head Kakha Sharabidze has been at the forefront of much of the development bank lender-side work, as has Ana Rekhviashvili, whose practice also includes advice on syndicated lending transactions and fintech-related regulatory work.

Practice head(s):

Kakha Sharabidze

Other key lawyers:

Maya Mtsariashvili; Ana Rekhviashvili; Mariam Vashakidze; Niko Dateshidze; Tengizi Mghebrishvili

Key clients

International Development Finance Corporation

Green for Growth Fund

Goldman Sachs Bank Europe SE


Work highlights

  • Advised Development Finance Corporation on the project financing transaction related to construction and development of Rooms Hotel Abastumani by the Adjara Group.
  • Represented Development Finance Corporation in relation to the project financing of GMT Mtatsminda.

EY Law

The ‘exceptional’ team at EY Law draws upon ‘a diverse mix of financial and legal expertise’ to advise clients engaged in regulatory and transactional work in Georgia. New York and Georgia-qualified team head Tato Chantladze combines international sensibilities with an excellent knowledge of the local banking landscape, gleaned from his many years’ in private practice, as well as in-house at several domestic banks. ‘Exceptionally attentive’ associate Mako Maisuradze is a key member of the team, working alongside Chantladze across a range of key mandates, including a considerable volume of fintech-related work and investment fund structuring matters.

Practice head(s):

Tato Chantladze

Other key lawyers:

Elene Sulkhanishvili; Mako Maisuradze; Ekaterine Kiknadze


‘The exceptional team brings a diverse mix of financial and legal expertise, and is able to deliver holistic solutions to their clients on all fronts.’ 

‘Mako Maisuradze is exceptionally attentive and punctual, always available and ready to support our case and align with our company’s needs. At every step of our collaboration, it is evident that she has our company’s best interests in mind.’


Key clients

Baobab Capital JSC

Nexus JSC

Silk Technology LLC

Work highlights

  • Assisted Baobab Capital JSC on licensing matters relating to the first umbrella investment fund in Georgia.
  • Aided Nexus JSC in establishing a corporate structure tied to a complex M&A transaction.
  • Assisted Silk Technology LLC in its development of an online ecosystem that will modernise provision of financial products.


MKD Law regularly handles banking and finance mandates as part of its overarching full-service expertise. Victor Kipiani is engaged in finance transactions, running the gamut from project finance mandates and capital markets work through to complex banking and structured finance matters. In particular, Kipiani has strong credentials among development banks, including acting for them on lari-denominated debt securities issuances. Sandro Samadbegishvili has niche expertise in relation to aviation finance mandates, including work for aviation lessors.

Practice head(s):

Victor Kipiani; David Dzidziguri; Archil Kbilashvili

Other key lawyers:

David Metskhovrishvili; Natalia Babakishvili; Sandro Samadbegishvili; Mariam Karseladze

Key clients

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO)

Work highlights

  • Advising Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) on any Georgian law aspect with respect to a 300m GEL/local currency term facility agreement entered into between JSC TBC Bank, a major systemic local bank, as a borrower and FMO as a lender.
  • Advising FMO on Georgian law aspects with respect to a 45m GEL/local currency term facility agreement entered into between JSC Terabank, a large local bank, as a borrower and FMO as a lender on 11 May 2023.

Nodia, Urumashvili & Partners

The ‘reliable’ team at Nodia, Urumashvili & Partners is a popular choice among local banks across a range of day-to-day advisory work, including on regulatory compliance matters. In addition, the firm has assisted a number of banking entities gain the necessary licensing documentation to establish subsidiaries in the country. On the transactional front, Lasha Nodia has debt capital markets expertise and has also been active advising both creditors and debtors in relation to insolvency and restructuring matters. Nodia heads the team alongside tax expert Eprem Urumashvili.

Practice head(s):

Lasha Nodia; Eprem Urumashvili

Other key lawyers:

Giorgi Kekenadze; Tamta Margvelashvili


‘We have a great, positive experience of working with Nodia, Urumashvili and Partners. The team is staffed by professionals covering almost all areas of Georgian law and legislation. They are reliable with great communication skills.’

‘Employees attached to us showed maximum attention and provided quality legal services in minimum time.’

Key clients

JSC Ziraat Bank Turkey

JSC Tera Bank

JSC Bank of Georgia

JSC Procredit Bank

JSC Bank of Georgia

JSC basis Bank

Responsibility Investments AG

JSC Pasha Bank

JSC Crystal

Work highlights

  • Advised ResponsAbility Investments AG on various matters relating to the execution and enforcement of several promissory notes concluded with various legal entities incorporated in Georgia.
  • Advised a corporate client on the issuance and listing of green bonds.