Firms To Watch: Leading firms

Black Swan Consulting works with a venture fund and provides legal support on work with young companies, with a particular focus on the IT sector.
Life sciences boutique Vakhidov & Partners specialises in work for clients in the pharmaceuticals sector.

Leading firms in Uzbekistan

Azizov & Partners

Azizov & Partners has a strong track record in the areas of general commercial practice, including banking, finance and capital markets, as well as specific expertise in oil and gas. Recent work further spans the transportation, pharmaceuticals, construction, aviation, retail and IT sectors. Ilkhom Azizov and Aziz Aripdjanov co-head the practice, both of whom add more than two decades of experience in the field of commercial law.

Practice head(s):

Ilkhom Azizov; Aziz Aripdjanov


‘Excellent team of professionals.’

‘Ilkhom Azizov is our long-time legal advisor and provides legal advice in matters relating to taxation, personal data protection and the representative office, among others.’

Key clients

Berlin-Chemie AG. Menarini Group

Asian Development Bank

PNS Networks Co. Ltd.

Aksa Enerji Uretim A.S.

Cadila Pharmaceuticals Ltd.


Alucommerce Systems d.o.o.

China National Chemical Engineering Sixth Construction Co. Ltd


Qatar Airways Group

Work highlights

  • Advised the US Embassy, Commercial Law Development Program Office of General Counsel US Department of Commerce, on local legislation relating to the securities market, as well as court practice and regulatory issues.
  • Assisted the United Nations Development Programme with the development of the legal and regulatory framework for Sukuk instruments in Uzbekistan, as well as drafting amendments to the legislation of Uzbekistan.
  • Advised Qatar Airways Group on accreditation of the representative office in Uzbekistan, assisting in market entry issues.

Centil Law

Centil Law is a local firm with distinct cross-border expertise in matters involving corporate and M&A, banking and finance, international trade, and tax. In addition, the team is active in technical assistance projects, drafting and amending legislation relating to investments and public private partnerships, as well as key sectors such as energy, aviation, chemicals and mining. The practice is led by a six-strong team of partners, which includes energy and infrastructure head Umid Aripdjanov, banking and finance head Sofia Shaykhrazieva, investment transactions co-head Otabek Suleimanov, transport infrastructure head Dilshad Khabibullaev, as well as Zafar Malikov and Ravshan Rakhmanov.

Practice head(s):

Zafar Malikov; Umid Aripdjanov; Otabek Suleimanov; Sofia Shaykhrazieva; Dilshad Khabibulaev; Ravshan Rakhmanov

Other key lawyers:

Islam Gulomov; Husniddin Ochildiyev; Natalya Kim; Kamilla Khamraeva


‘The team’s services are of the same quality of a reputable international law firm. They respond quickly, provide structured advice and non-standard solutions.’

‘I worked with Kamila Khamraeva and Otabek Suleimanov. They have profound industry knowledge and experience in the transactions of the level required for banks, as well as passion in performing the services.’

‘Centil Law has a large and very capable team. Their work for government, lenders and sponsors means they have good insight into what different clients need and what is possible within the Uzbekistan framework.’

Key clients

World Bank Group

IFC advisory

Asian Development Bank








Indorama Corporation


Air Marakanda

Atlas International

Air Products


ADM Jizzakh

Work highlights

  • Advising Veolia on the first unsolicited proposal under new PPP Law for operation, rehabilitation and maintenance of a heating distribution network, with an investment plan of €1.5bn for 30 years in Tashkent.
  • Assisted JSC Uzbekneftegaz. JP Morgan, Citi and Gazprombank JSC, who acted as underwriters for the oversubscribed offering of corporate Eurobonds in $700m.
  • Worked as part of the IFC Advisory/World Bank Group in advising on a scaling solar program in Uzbekistan for the benefit of the Government of Uzbekistan.


Dentons is an international law firm with a strong local presence in Uzbekistan, supporting clients from a broad range of industries including energy, construction and mining. The team has particular expertise in development finance-funded projects and government mandates, although matters involving banking and finance, infrastructure and PPP, corporate and M&A are also significant drivers of work. Managing partner Eldor Mannopov leads the group alongside banking and finance head Shukhrat Yunusov and Bobur Shamsiev. Other key individuals include counsel Ulugbek Abdullaev and senior associate Sanjar Narzullaev.

Practice head(s):

Eldor Mannopov; Bobur Shamsiev; Shukhrat Yunusov

Other key lawyers:

Ulugbek Abdullaev; Sanjar Narzullaev


‘Managing partner Eldor Mannopov is a flexible professional who is always ready to assist.’

‘Dentons unique ability to provide expertise in different jurisdictions is very helpful.’

‘Dentons have a very strong team focused on corporate law, PPP projects and debt raising.’

‘The team is committed to the given timeline and deliver a high quality of service.’

‘Compared to other law firms, we could see a huge difference in the knowledge and customer-focused approach of Dentons. The team understood our requirements quickly and gave the solutions seamlessly, proactively supporting our project execution.’

‘Eldor Mannopov was always available to address our critical queries and provided precise and workable solutions. Personally, I have not experienced such a swift response from other legal companies.’

Key clients

JSC National Bank for Foreign Economic Activity of the Republic of Uzbekistan

Ministry of Finance of the Republic of Uzbekistan

State Assets Management Agency of the Republic of Uzbekistan

Hududgazta’minot JSC

Calik Holding

Work highlights

  • Acting as external counsel for UzAssets Investment Company Joint-Stock Company under the State Assets Management Agency of the Republic of Uzbekistan in their large-scale project on the privatization of eighteen state-owned enterprises from various strategic industry sectors.
  • Advised Hududgaztaʼminot JSC, the national operator of gas distribution grids, on the $300m project financing for the installation of modern metering devices throughout Uzbekistan.

GRATA International

GRATA International‘s areas of expertise include project finance transactions, corporate and M&A, taxation, litigation and intellectual property. Recent work involves clients operating in the oil and gas, mining, hospitality, banking, construction and technology sectors, among others. Managing partner Bakhodir Jabborov co-heads the practice with international arbitration specialist Nodir Yuldashev and cross-border finance specialist Atabek Sharipov.

Practice head(s):

Bakhodir Jabborov; Nodir Yuldashev; Atabek Sharipov


‘Very responsive team providing high quality services.’

‘Atabek Shapirov is an absolute pleasure to work with.’

Key clients

Pallas Resources


British-American Tobacco Uzbekistan

Accor Hotels

Asian Development Bank

European Bank for Reconstruction and Development

International Finance Corporation

Japan International Cooperation Agency



Societe Generale

BI Group

China Gezhouba Group Co Ltd

Bureau Veritas SA

Kosta Legal

Azizbek Akhmadjonov, Nail Hassanov and Vazgen Grigoryan head the team at Kosta Legal, whose wide-ranging expertise benefits a number of foreign clients in Uzbekistan. The firm represents investors dealing with state bodies, lenders and investment targets in complex project financings and PPP arrangements. Elsewhere, the group handles incorporation, liquidation and bankruptcy matters in the corporate space, as well as M&A transactions and restructuring exercises. Further areas of expertise include competition law, dispute resolution, real estate and construction. Other key individuals include counsel Maxim Dogonkin and senior associate Jakhongir Olimjonov.

Practice head(s):

Azizbek Akhmadjonov; Nail Hassanov; Vazgen Grigoryan

Other key lawyers:

Maxim Dogonkin; Jakhongir Olimjonov


‘The team is flexible and available as required. It is innovative and doesn’t press on following precedents. They are open to challenges which each transaction can bring and offer valuable solutions.’

‘Nail Hassanov has been great at finding solutions for PPP projects in the water sector. This was the first program of its kind and required innovative thinking and explanations.’

‘Jakhongir Olimjonov has been available when required and his attention to detail and speed of execution has facilitated the process throughout.’

‘Nail Hassanov has a very straightforward approach which, combined with strong intellect, means you always feel that you know where you stand and what needs to be done. Maxim Dogonkin is a very strong counsel who works with Nail and together provide fantastic support to investors.’

‘Kosta Legal has market-leading experience in power and renewables projects in Uzbekistan. Nail Hassanov is highly recommended and one of our go-to lawyers in Uzbekistan.’

‘The firm’s lawyers are well-versed in the rapidly changing regulatory environment in Uzbekistan, commercially oriented, and perfectly understand the needs and difficulties faced by clients.’

‘Vazgen Grigoryan is a highly professional, has extensive experience in corporate law and dispute resolution, and enjoys great authority within the legal market of Uzbekistan. He is well acquainted with the principles of our work and always responds promptly and accurately to requests.’

‘Nail Khasanov and Maxim Dogonkin are highly qualified specialists with professionally and responsible approach.’

Key clients

Abu Dhabi Future Energy Company PJSC

Asian Development Bank


Électricité de France

International Finance Corporation

Maxam Corp. International SL

Philip Morris International



Unitel LLC

Work highlights

  • Assisting Électricité de France, Kyuden Corporation, Nebras Power and Sojitz Corporation in preparing for the tender and implementing the project for the financing, designing, construction, and operation of a 1,200–1,600MW combined cycle gas turbine power plant in the Syrdarya region of Uzbekistan.
  • Advising Murad Buildings, one of Uzbekistan’s largest developers, on implementing a $1.2bn project for the construction of housing, social, and commercial infrastructure facilities on a land plot of 420 hectares in Tashkent.
  • Representation of Indorama Kokand Textile in a dispute over the undersupplying of cotton with a cotton producer, which took place in the court of first instance.

Leges Advokat

Reflective of its solid reputation on the legal market of Uzbekistan, boutique law firm Leges Advokat serves leading international corporations and financial institutions, among other corporate, governmental and private clients. The firm’s key areas of practice include commercial, corporate and M&A, banking and finance, real estate, employment and international arbitration. The team is led by managing partner Nizomiddin Shakhabutdinov and Azamat Fayzullaev, both of whom are based in Tashkent.

Practice head(s):

Nizomiddin Shakhabutdinov; Azamat Fayzullaev


‘Staff with vast experience and a high quality of service.’

‘Great level of responsibility shown by the team.’

‘The team’s advice was fast and clear. It was open to the suggestions made by the client and us and could accommodate the requests.’

Key clients

Uz-Kor Gaz Chemical





MUFG Bank, Ltd.

Philip Morris

Ziraat Bank

Asia Development Bank


Kinstellar is noted for its corporate and M&A, banking, finance and capital markets work in Uzbekistan; leading international companies and financial institutions, including major American banks, seek the firm’s advice. Managing partner Joel Benjamin has been working on transactions in the region for over two and a half decades. Tashkent-based Sherzod Yunusov is another name to note, whose expertise further covers energy and infrastructure projects. Muborak Kambarova left to KY & Partners.

Other key lawyers:

Joel Benjamin; Sherzod Yunusov


‘Kinstellar’s team in Uzbekistan is very professional, accessible and have the ability to deliver quality work within tight deadlines.’

‘We work primarily with Sherzod Yunusov on PPP projects. He has an extensive understanding of the local regulatory framework and practices which helped us a lot to understand and tackle legal issues.’

‘Very proactive and experienced team, with whom we worked on a renewables project, receiving high quality advice.’

‘Sherzod Yunusov is the main point of contact; he is very diligent, efficient, knowledgeable and reactive.’

‘The lawyers are able to quickly and efficiently resolve issues. I know that my questions are answered quickly and accurately.’

‘Sherzod Yunusov is very diligent, solution-oriented, and highly knowledgeable in the transactional structuring of dispute resolution mechanisms, with a particular focus on infrastructure and energy projects.’

Key clients

JP Morgan Securities plc

Citigroup Global Markets

Work highlights

  • Advised JP Morgan Securities plc on a bond offering by Uzbekneftegas, a state-owned holding company of Uzbekistan’s oil and gas industry.
  • Advised Citigroup Global Markets on a bond offering by Uz Auto Motors, a state-owned auto production company.


LEGATE offers an extensive range of services covering both contentious and non-contentious matters; areas of expertise include business incorporation, projects and PPP, corporate and M&A, litigation and construction, among others. Clients include domestic and regional clients operating in sectors such as transportation, banking, oil and gas, power and energy. Managing partner Nigora Avazmukhamedova and Petr Avakyan lead the team.

Practice head(s):

Nigora Avazmukhamedova; Petr Avakyan

Other key lawyers:

Alisher Rahmatov; Pavel Jurayev

Key clients

Lamanka Enterprises

Stone City Energy



State Assets Management Agency of Uzbekistan




DAS Marketing

French School of Tashkent


Work highlights

  • Advising Cyprus-based Lamanka Enterprises on the acquisition of an 84% stake in Akhangarantsement, Uzbek cement producer, from Russia-based Eurocement for over $50m.
  • Advising Stone City Energy Company (Netherlands) on the agreement between the Government of the Republic of Uzbekistan for the design, financing, building, operation and management of a power plant in the Angora district of the Surkhandarya region in south-east Uzbekistan.

PraeLegal Uzbekistan

Drawing on the firm’s international reach, PraeLegal Uzbekistan is able to advise local and foreign clients on matters involving commercial, corporate and M&A, real estate, litigation and alternative dispute resolution. Recent work spans the construction, retail, education, healthcare and aviation sectors, among others. Mushtariy Aripova, Shakhnoza Kodirova and Dilafruz Holmanoova lead the team. In a key development, Mirzaaziz Ruziev joined from GRATA International in April 2022, adding extensive experience in the banking and finance space to the team.

Practice head(s):

Mushtariy Aripova; Shakhnoza Kodirova; Dilafruz Holmanoova

Other key lawyers:

Sherzod Abdulkasimov; Irina Kim

Key clients

Nord Anglia Education


Tashkent Zoo

Uzbekistan Airways JSC

Pearson Education ltd

Tashkent City Mall

Mercy Corps

Hyatt Regency

National Olympic Committee

Work highlights

  • Assisted Uzbekistan Airways JSC in a deal for the purchase of aircraft under a lease agreement.
  • Assisted Tashkent City Mall on the construction of the one of the biggest malls in Uzbekistan.
  • Represented the interests of one of the subsidiaries of N’Medov Holding at the London Chamber of Arbitration and Mediation.

SETTLE law firm

SETTLE law firm has extensive experience in protecting intellectual property rights and advising on corporate matters. The firm’s clients include major foreign and local companies in the pharmaceutical, media, IT and education industries, among others. The team is led by managing partner Jamshid Agzamkhadjaev and Sherzod Utkirkhujaev, whose combined expertise further spans areas such as commercial and M&A, employment, immigration and litigation.

Practice head(s):

Sherzod Utkirkhujaev; Jamshid Agzamkhadjayev


‘Qualified and committed team with prompt replies.’

‘The lawyers are experienced and trustable, doing their best to achieve positive results.’

‘We get access to well-educated lawyers in all matters of interest.’

‘SETTLE law firm has many years of experience in trademark registrations and protections, as well as corporate matters, which makes them stand out from their peers.’

‘We are content with the quality of the firm’s services. The deadlines are met regularly, and the reports are sufficiently detailed.’

‘I recommend Jamshid Agzamkhadjayev for his professional approach, curiosity and willingness to find alternative solutions to the problems our clients face in the uncertain legal terrain in Uzbekistan.’

‘The team has expertise in protecting IP rights and an excellent network with both private and government sectors and industry stakeholders.’

‘The individuals are respected both in Uzbekistan and internationally. They are perceived as key contributors to the local IP agenda, making progress for their clients and industries they represent.’

Key clients

Dr. Reddy’s Laboratories

Orville Services

Novo Nordisk

Claudel Roustang Galac (Laktalis)


Discovery Inc.

Mondelēz International, Inc.

Colgate Polmalive Company

Mars Inc.

Work highlights

  • Ongoing representation of Colgate-Palmolive Company in court against a local manufacturer in a trademark invalidation case.
  • Protected the IP rights of Laktalis in Uzbekistan against a local company that illegally registered the company name containing “Lactel”.

Tethys Law Firm

Tethys Law Firm specialises in litigation and mediation, as well as commercial, corporate and M&A matters. The boutique firm focuses on areas including health care, oil and gas, energy and chemicals, and in the finance field has expertise in convention and Islamic finance. The group is led by managing partner Jahongir Abdurazakov, Igor Zaharov and Timur Salikhbaev, whose combined expertise further covers tax, trade and employment. Firdavs Kabilov is also recommended.

Practice head(s):

Jahongir Abdurazakov; Igor Zakharov; Timur Salikhbaev

Other key lawyers:

Firdavs Kabilov

Key clients

Air Product Central Asia Group LLC

Metka EGN Central Asia LLC

Indorama Agro LLC

Gas Project Development Central Asia AG LLC

China Road and Bridge Corporation LLC

Ko’kdumaloq Gaz LLC

Uzmetkombinat JSC

Iman Invest LLC

Uz-Oman Investment Company LLC

International Beverages Tashkent LLC

Work highlights

  • Represented Gas Project Development (Subsidiary of Gazprom) in court regarding corporate and energy law issues.
  • Represented TetraPak in court regarding third party rights in a corporate dispute.
  • Represented Uz-Oman Capital LLC in a dispute with Makro regarding the conclusion of lease agreement for premises.

Legalmax Law Firm

At intellectual property-focussed Legalmax Law Firm, the team handles trade mark and patent applications, licensing agreements and litigation. It is active in the food and beverages, retail, pharmaceuticals, payment services and automotive sectors, among others. Managing partner Mukhammadali Makhmudov, head of legal Madina Tursunova and IP head Lola Islamova lead the group.

Practice head(s):

Mukhammadali Makhmudov; Madina Tursunova; Lola Islamova


‘We have found the team very helpful in contentious IP matters, providing prompt and concise advice on contentious trademark matters which led to the successful enforcement of our rights.’

‘We found Madina Tursunova extremely talented at creating effective trademark enforcement strategies, as well as finding efficient and timely resolutions for complex matters.’

Key clients

Celgene Corporation

Geox Spa

Axis Communications BV

Burger King Europe


Mustang Bekleidungswerke GmbH

Angel Yeast Co Ltd.

CHINOIN Gyógyszer és Vegyészeti Termékek Gyára Zrt

Chanel Sarl

Merck Sharp & Dohme

Google Inc.

Apple Inc.

Bayer AG


Colgate-Palmolive Company


7Eleven Inc


The Maccalan Distillers

Highland Distillers

Volvo AB

Grundfos Holdings A. B

Xiaomi Inc.


Pernod Rickard


Wm. Wrigley Jr. Company

Mars, Incorporated

Teva Pharmaceutical Industries Ltd.

Paulaner Brauerei GmbH & Co KG

Andritz AG

Busuu Online S.L.

Snap Inc

Novartis AG

Adamed Pharma S.A.

The Absolut Company AB

ENI S.p.A.

Lego Juris A/S

Quality is Our Recipe, LLC

Work highlights

  • Advised Unilever on the recordal of the registered proprietor for a portfolio of IP rights, which occurred as a result of a de-merger from Unilever N.V. into a new Dutch company.
  • Advised Burger King Europe on entering the market and Master Franchise Agreement.


PETOŠEVIĆ‘s five-strong team in Uzbekistan is known for providing advice on intellectual property and related issues. Areas of strength include representing major multinational corporations in contentious and non-contentious IP matters, including patent, trade mark and industrial design prosecutions and enforcements, as well as customs enforcement. Tashkent-based Djakhangir Aripov heads the practice.

Practice head(s):

Djakhangir Aripov

Putilin Dispute Management

Putilin Dispute Management is known for its specialisation in alternative dispute resolution. Practice head Elijah Putilin has particular expertise in adjudication, arbitration and mediation proceedings, often drawing on his extensive cross-border experience. Recent work has involved clients operating in the agriculture, sports, aviation, and manufacturing industries.

Practice head(s):

Elijah Putilin


‘Elijah Putilin is a strategic thinker with great attention to details and second to none oral and written advocacy. Elijah is capable of mastering even the most complex cases in a short time frame and advise the client on a winning strategy.’

‘Putilin Dispute Management is very agile. Despite the firm being a solo-practice, Putilin Dispute Management is capable of bringing a multijurisdictional and multisectoral team, should the project so require.’

‘Elijah Putilin is a very creative, entrepreneurial and dynamic lawyer.’

PwC Consulting LLC Uzbekistan

PwC Consulting LLC Uzbekistan assists international companies with establishing their presence across various sectors in the region, drawing on the firm’s global network of offices. The team provides a broad range of services, ranging from initial investment support, corporate, commercial, banking and finance and immigration issues, to complex M&As and joint venture transactions in Uzbekistan. Senior manager Fayzullokhon Khusankhodjaev heads the practice, which also includes manager Kamila Sharipova.

Practice head(s):

Fayzullokhon Khusankhodjaev

Other key lawyers:

Kamila Sharipova


‘The team has expertise on anti-money laundering issues, in which they displayed effective communication skills.’

‘Each team member has sufficient knowledge in the field of anti-money laundering.’

‘Despite being a one-off project, the local team was quickly available. The practical work was particularly effective and smooth.’

Key clients

Anoma Legal

GM Pharmaceuticals Ltd. LLC

Coca Cola

Abu Dhabi Future Energy Company PJSC – Masdar


Anderson Mori & Tomotsune

PwC Consulting Korea

Tenex Capital LLC

PwC Georgia LLC

Bericap LLP

Work highlights

  • Advised Navoi Mining and Metallurgical Company JSC throughout its separation into three legal entities.
  • Advised Unilever Sanayi ve Ticaret T.A.S. on compliance with local certification and labelling standards, as well as assistance in combatting counterfeit production.
  • Assisted Anderson Mori & Tomotsune in preparation of the investment guidebook on Uzbekistan.

Virtus Leo Law Firm

Virtus Leo Law Firm is a highly active provider of commercial, administrative, litigative and criminal legal services. By participating in international networks of qualified law firms, the team is well-placed to act for foreign and multinational companies in Uzbekistan. Managing partner Alisher Zaynutdinov heads the group, which also includes Odinabonu Abdukakhorova, whose expertise can be seen in matters involving employment law.

Practice head(s):

Alisher Zaynutdinov

Other key lawyers:

Odinabonu Abdukakhorova


‘They are excellent and have not disappointed.’

‘Alisher Zaynutdinov is a great lawyer because he understands the local laws in Uzbekistan.’

‘The team is very knowledgeable and responsive.’