Zulficar & Partners Law Firm > Cairo, Egypt > Firm Profile
Zulficar & Partners Law Firm Offices
NILE CITY BUILDING, SOUTH TOWER, 8TH FLOOR
2005 A CORNICH EL NIL
RAMLET BEAULAC, CAIRO 11221
Zulficar & Partners Law Firm > The Legal 500 Rankings
Egypt > Banking and finance Tier 1Zulficar & Partners Law Firm provides legal services for corporate and governmental clients in all banking and finance related matters such as syndication loan agreements, transactions, Islamic finance, and securitisations. The team is headed by founding partner Ashraf Ihab whose work includes debt rescheduling agreements and related security documents as well as the issuance of bonds and Sukuk. Mona Zulficar ’s expertise encompasses project finance and complex transactions, while Dania El Samad handles matters for governmental and corporate entities, lenders, borrowers, and multinational clients.
Other key lawyers:
Mona Zulficar; Dania El Samad
Al Ahli Bank of Kuwait – Egypt
Arab African International Bank
Arab Banking Corporation
African Export-Import Bank
Blue Bay Management Company
Cairo Investment for Real Estate Development
Canal Sugar Company
Central Bank of Egypt
Commercial International Bank
Credit Agricole Egypt
Egyptian Mud Engineering & Chemicals Co.
National Bank of Egypt
National Bank of Kuwait
National Bank of Oman
National Automotive Company
Suez Canal Bank
The United Bank
The Bank of New York Mellon
The Bank of Tokyo-Mitsubishi UFJ
The World Bank Group
- Advising Commercial International – Egypt S.A.E. on the issuance of the first green bonds for the private sector in Egypt with a value of USD 100 million, with a tenor of five years at a fixed interest rate, and the proceed of the subscription shall be used to finance a portfolio of green loans granted by CIB.
- Advising on a banking alliance led by the National Bank of Egypt in its capacity as the financing agent and with the participation of the industrial Development Bank and the Egyptian Arab Land Bank, which succeeded in providing a long-term syndicated facility agreement of up to 962 million Egyptian pounds for the benefit of the Scientific Research, Education and Development Company to establish branches of European universities in the New Administrative Capital in Egypt.
- Advised Cairo Investment for Real Estate Development on the issuance of the first Shariah Ijara Sukuk in the Egyptian education sector with a total value of EGP 600 million.
Mohamed Abdel Wahab
Other key lawyers:
Bawabet Al Kuwait Holding co.
Egyptian Fertilizers Company (EFC)/ Orascom Construction Industries (OCI)
Nile Douma Holding
Sixth October Development and Investment Company S.A.E.
Cheiron Zaafarana Petroleum Company Limited
- Acted as a legal expert on Bahraini Law for Al-Kheran Holding SPC in an ICC arbitration case against Majid Al Futtaim properties LLC in relation to a shareholder’s agreement.
- Acted as a legal expert on Saudi law for Air Products (the Defendant), a world-leading industrial gases company, in a litigation dispute before the US court brought by minority shareholders in a Saudi based company.
Other key lawyers:
Alexandria Portland Cement Co.
Adeptio AD Investment SPC
Beni Suef Cement Co.
British American Tobacco Egypt
Bluburg – Modern Consumer Innovations Company
Egyptian Dutch Dredging Company Ltd
Helwan Cement Co.
National Bank of Egypt
Powertek/ EDRA POWER HOLDINGS SDN BHD
Promomedia Advertising & Production
Richemont International SA
Suez Cement Company SAE
Tourah Portland Cement Co.
Egypt > Energy Tier 2The service portfolio Zulficar & Partners Law Firm offers clients covers the whole gamut of energy related matters, including petroleum concessions, commercial discovery and development leases, environmental arrangements, and joint ventures. The firm advises on transactions, disputes, and regulatory matters in up- and downstream projects in addition to renewable energy projects. Practice head Mohamed Abdel Wahab has extensive experience in contentious and non-contentious oil and gas matters. Dispute resolution cases within the energy sector with a focus on international arbitration are handled by Youssef Al Saman.
Mohamed Abdel Wahab
Other key lawyers:
Bawabet Al Kuwait Holding
Cheriron Zaafarana Petroleum Company Limited
Dover Investments Ltd.
Egyptian Fertilizers Company
New and Renewable Energy Authority (NREA)
- Represented TAQA ARABIA, a leading energy group, in an Electricity Authority dispute over a power station against South Valley, a cement manufacturer company.
- Repressenting Bawabet Al Kuwait Holding Co. as co-counsel with Clifford Chance in a treaty based ICSID arbitration case involving the Kuwait-Egypt BIT breaches.
- Represented Egyptian Fertilizers Company in an oil and gas dispute over the supply and pricing of natural gas under an agreement concluded between EFC and the state-owned entities EGAS and GASCO.
DISPUTE RESOLUTION: ARBITRATION
Zulficar & Partners is a premier international arbitration and corporate law practice firm based in the Nile City Building in the heart of Cairo, Egypt. The Firm offers a comprehensive range of legal services to a diverse array of clients both in Egypt and internationally. Its well-established Arbitration Group, founded and headed by Prof. Dr. Mohamed Abdel Wahab, specializes in prosecuting complex international commercial and investment arbitration disputes.
The Arbitration Group comprises more than 23 highly talented lawyers specializing in prosecuting investment and commercial arbitral proceedings, and is continuously expanding at an accelerated pace to cater for an increasing caseload, where the Firm is continuously instructed to act on high profile international commercial and investment cases with an exceptional track record of successful outcomes.
The Arbitration Group is available and able to conduct international arbitral proceedings in diverse jurisdictions, under various laws, and in different languages to the highest standards of efficiency and professionalism, and is regularly instructed to represent corporations, investors and governmental entities from across the globe in arbitral proceedings under major institutional rules including the CRCICA, ICC, ICSID, JCAA, LCIA, SIAC, and in the context of ad-hoc proceedings governed by the UNCITRAL rules and/or diverse national laws.
The Arbitration Group’s solid practice is founded on a combination of knowledge, expertise, creativity, and strategic dispute management. We pride ourselves as market leaders in the world of arbitration, where we regularly prosecute cases under major institutional rules and in ad-hoc proceedings. The Arbitration Group is well positioned and recognized for successfully prosecuting high value and highly complex arbitral proceedings. The Arbitration Group’s expertise spans (i) diverse business and investment sectors, including: construction, telecommunications, power and infrastructure, oil & gas (including gas pricing disputes), hotel management, sale of goods, financial services and Islamic finance, real estate development, maritime and transport, insurance, commercial representation and joint ventures, with dispute values ranging from USD 10 million to USD 2 billion; and (ii) cases governed by Egyptian, English, French, Jordanian, Kuwaiti, Moroccan, Omani, Qatari, Saudi, Spanish, Swedish, Swiss, Syrian, Italian and United Arab Emirates law(s), as well as international law and the general principles of law.
The Arbitration Group prosecuted arbitral proceedings relating to mega construction projects in Egypt, Jordan, Kuwait, Qatar, Morocco, Oman, Saudi Arabia, Syria, and other MENA region countries. Amongst the Firm’s Arbitration Group’s recent achievements and track record of significant successes are:
(i) Securing a final arbitral award in favour of a real estate development group in a US$ 500 million dispute with a leading real estate development group from a MENA State regarding a costal real estate project;
(ii) securing partial and final arbitral awards in favour of a client in a dispute pertaining to a major airport project in an Arab State;
(iii) representing a leading European client against a leading MENA corporate group in an arbitration governed by Arab and English laws and secured a favourable outcome for the client;
(iv) securing a favourable judgment rejecting an action to set aside a partial award before the administrative courts of an Arab State;
(v) setting a precedent when a foreign arbitral award endorsed and upheld the derivative obligations of good faith as pleaded for the first ever in a MENA related arbitration;
(vi) securing a favourable award dismission liability for an Asian client in a dispute pertaining to an EPC contract;
(vii) being instructed to represent a world leading construction group in a mega arbitration pertaining to the construction of an airport in a MENA country;
(viii) securing a favourable settlement to a European client in a mega arbitration pertaining to the construction of a marine jetty and port against an Asian company;
(ix) securing a full payment of our client’s claims in a construction arbitration against an Arab contractor, where the counterpart settled upon filing our statement of case; and
(x) securing a favourable settlement to a MENA client with respect to its claims under four construction projects.
The Arbitration Group also prosecuted arbitral proceedings relating to mega energy arbitrations. Amongst the Firm’s Arbitration Group’s recent achievements and track record of significant successes are:
(i) acting for major oil & gas players in the MENA region in successfully negotiating oil & gas concessions;
(ii) securing a full win for a leading fertilizers company in a gas pricing dispute against two State entities, where we managed to defend a claim for over US$475 million and Claimants’ claims were fully rejected;
(iii) securing a full win for a State-owned entity in an oil & gas concession arbitration in a MENA State;
(iv) securing a full win for an Egyptian oil & gas group in arbitration proceedings against a Scandinavian group of companies regarding a petroleum services agreement;
(v) securing a favourable settlement for a leading Egyptian energy group of companies in relation to arbitration proceedings commenced by a UK-based petroleum services group, where we managed to join the parent company to the proceedings, which facilitated a favourable settlement for our client;
(vi) assisted a leading European LNG group in parallel arbitration proceedings concerning gas supply agreements with claims in excess of US$3 billion against a State-owned company; and
(vii) securing a full win for an energy group in arbitration proceedings against another group of companies regarding petroleum services agreements.
The Arbitration Group also prosecuted arbitral proceedings relating to mega telecommunications arbitrations. Amongst the Firm’s Arbitration Group’s recent achievements and track record of significant successes are:
(i) prosecuting the first-ever interconnection arbitration dispute between fixed and mobile operators in Egypt, with claims and counterclaims exceeding US$ 2 billion, where secured a full award on liability in favour of our client which facilitated a favourable settlement to our client;
(ii) securing a full win for a mobile telecommunications operator in an arbitration against another mobile operator in Egypt, with a full award of the quantum claimed as well as arbitration and legal costs;
(iii) hitherto, our Firm is the only Egyptian firm that secured favourable awards in all telecommunications-related arbitrations prosecuted by the Arbitration group; and
(iv) successfully, negotiating on behalf of our client (a telecommunications operator) a settlement agreement with the telecommunications regulatory authority and other operators regarding interconnection rates.
The Arbitration Group also prosecuted arbitral proceedings and developed extensive expertise in mega arbitrations involving insurance, financial services, agency and distribution, tourism and leisure, transport and media. Amongst the Firm’s Arbitration Group’s recent achievements and track record of significant successes in these fields are:
(i) securing a favourable award and judgment in favour of a trading group in parallel proceedings in Egypt and before English courts regarding insurance and reinsurance claims pertaining to a marine barge;
(ii) securing a full win for a European client in an arbitration against a MENA export and import company, where our client was awarded the full value of its claims, arbitration costs and legal costs;
(iii) securing a full win for an Egyptian agriculture group in an arbitration against a French company with respect to the sale and purchase of palm trees, where our client was awarded the full value of its claims, arbitration costs and legal costs;
(iv) securing a full win for an Egyptian media group in an arbitration against a marketing and production company, where our client was awarded the entirety of its claims;
(v) successfully representing a leading investment group in arbitration proceedings against a MENA corporate group in a dispute relating to share swap and joint venture agreements; and
(vi) successfully representing a leading Arab-African bank in arbitration proceedings involving sale and purchase and escrow agreements and we managed to secure an award excluding the bank from the proceedings the continued between the parties to the sale and purchase agreement.
Amongst the recent global accolades, testimonials and international recognitions of the work undertaken by the Arbitration Group and its Head are:
(i) being listed as Egypt’s premier disputes practice and its continued listing on the Global Arbitration Review (GAR 100) top 100 firms in international arbitration;
(ii) being awarded the GAR “Mediterranean or North African international arbitration practice that impressed in 2017”;
(iii) being awarded the “Egyptian Leading Dispute Resolution Practice” by Chambers & Partners in 2019;
(iv) being listed as band 1 and a top tier international arbitration practice in the leading international directories such as Chambers & Partners, the Legal 500 and the GAR Guides;
(v) Prof. Dr. Abdel Wahab being awarded the 2020 Client Choice Award in Construction Law & Practice;
(vi) Prof. Dr. Abdel Wahab being recognized as a ‘star practitioner’ in Who’s Who Legal: Arbitration; Who’s Who Legal: Construction; Who’s Who Legal Thought Leaders: International Arbitration (2017 – 2020); and Who’s Who Legal Thought Leaders: Construction (2019 – 2020);
(vii) Prof. Dr. Abdel Wahab received the 2018 ASA International Arbitration Advocacy Prize;
(viii) Prof. Dr. Abdel Wahab being awarded the Law Magazine award for Egypt’s Best Legal Practitioner in 2017;
(ix) Prof. Dr. Abdel Wahab received the AYA Hall of Fame Award in London for the African Arbitrator of 2019;
(x) Prof. Dr. Abdel Wahab being listed in AFRICA’s 100 list of leading African arbitration practitioners by I-ARB (Africa);
(xi) Prof. Dr. Abdel Wahab being selected by Africa Arbitration as the African Personality of the Month (June 2018) and by the LACIAC (Lagos Chamber of Commerce International Arbitration Centre) as the Arbitration Personality in May 2019;
(xii) Prof. Dr. Abdel Wahab being recognized by the Legal 500 (2019) as ‘an arbitration expert with a global reputation’, who is ‘one of the best in the world’;
(xiii) Prof. Dr. Abdel Wahab being recognized by Who’s Who Legal Construction (2019) as “a leading heavyweight construction law specialist whose analytical skills are second to none”;
(xiv) Prof. Dr. Abdel Wahab being recognized by Who’s Who Legal (2017-2018) as “one of the best practitioners in the world today” thanks to his “sharp mind and excellent legal knowledge”;
(xv) Prof. Dr. Abdel Wahab being recognized by the Legal 500 (2018) as a ‘Deep thinker’ with ‘a remarkable intellect’ and ‘impressive advocacy skills’;
(xvi) Prof. Dr. Abdel Wahab being recognized by Chambers & Partners Global (2016) as a “very knowledgeable, extremely responsive and he really does make the jurisdiction more approachable for clients” with “significant experience advising on telecommunications and construction disputes”; and
(xvii) A legal director of a telecommunication company says that the Firm is “one of the best firms we have dealt with worldwide”, praising its Arbitration Group’s management of expectations, responsiveness and industry knowledge.
COMMERCIAL, CORPORATE AND M&A
Zulficar & Partners (“Z&P” or the “Firm”) is a premier corporate law and international arbitration practice firm based in the Nile City Building in the heart of Cairo, Egypt. The Firm offers a comprehensive range of legal services to a diverse array of clients both in Egypt and internationally.
The Corporate, M&A practice is handled by two main departments within our Firm: the Mergers and Acquisitions Department headed by Dr. Ingy Badawy and the Capital Markets and Procedural Department headed by Mr. Anwar Zeidan. Dr. Firas El Samad is a prominent and active member of the Mergers and Acquisitions Department in addition to being the head of the Competition Law and Information Technology group. Ms Mona Zulficar provides the Corporate, M&A practice with valuable support as and when required. The Corporate M&A practice comprises five partners and more than 20 talented lawyers (the “Team”) and extends to include members from other Departments of the Firm as and when needed.
As a market leader, and drawing on the unparalleled expertise of its partners and associates, the Team brings to the legal market a blend of exceptional individual skills as well as more than 35 years of legal experience. The Team has over the years established and maintained a track record and is recognized and singled out for establishing precedents, introducing innovative products, structures and solutions to the Egyptian market through its creative and proactive problem solving approach.
The Team provides clients with individualized service that caters to their specific needs and business requirements. The Team’s in depth knowledge, timely response, continuous availability and ability to work and deliver under time pressure without affecting the quality of the services provided are but a few of the qualities that our Team has been praised for.
Over the years, the Team has and continues to represent clients in major acquisition transactions in various sectors including education, health care, electronics, e-payment solutions, solar energy, oil and gas and banking, real estate as well as in different industrial sectors.
Recently the Team has represented (i) Cleopatra Hospital Company in the acquisition of El Katib Hospital through a Property Sale Agreement and Business Transfer Agreement, (ii) Cairo for Investment and Real Estate Development S.A.E. in the acquisition of 60% of Star Light Educational DMCC indirect owner of 99.9% of British Columbia Canadian International School S.A.E, (iii) the Sellers in the sale of up to 100% of Suez Bags to Mondi Industrial Bags through a mandatory tender offer, (iv) Suez Cement Company in the sale of the Menya white cement plant of its subsidiary Helwan Cement Company where the sale of shares was executed as a complex transaction involving several stages among which the implementation of a vertical demerger completed within a record three-month period. The transaction as whole constitutes in its complexity a first precedent of its kind in the Egyptian market.
The Team is currently involved in a landmark cross border transaction in the health care sector as well as two transactions of substantive value in the banking and oil and gas sectors. The Team is also close to finalizing two acquisitions involving launching mandatory tender offers for up to 100% of the target companies.
Based on its strong array of expertise in the field of joint ventures, the Firm is also extensively engaged in complex joint venture agreements (with the joint venture entities are holding companies inside or outside of Egypt) particularly in the fields of oil and gas, automotive industries, agricultural commodities, food industries, renewable energy and real estate. Of special mention are our engagement as a legal counsel to Taqa Arabia, in their joint venture project with BP’s subsidiary; Castrol Limited establishing Castrol Egypt S.A.E and appointing Taqa Arabia’s subsidiary; Taqa Marketing, as the exclusive distributor of its products in Egypt. Similarly, the Team has represented Taqa Arabia in concluding a joint venture agreement with Hassan Allam in the solar energy sector. Finally, the Team has acted as Scope Investment’s Egyptian counsel in its joint venture with Mansour to distribute Peugeot vehicles in Egypt.
The Team continues to act as a leader in the capital market transactions and represent clients whether as Issuer’s Counsel or as Underwriter’s counsel in numerous IPO’s of Egyptian companies that contemplated listing and offering of shares on the Egyptian Stock Exchange and/or outside Egypt on foreign exchanges.
Recently adding to its list of firsts, the Team acted as (i) the Egyptian Underwriter’s Counsel and the Egyptian Offering Counsel in the listing on the EGX and secondary offering of 37.84% of Cairo for Investment and Real Estate Development’s shares (“CIRA”), the largest private education provider in Egypt that directly and through its subsidiaries owns and operates 19 schools and Badr University in Cairo, Egypt and the first company in the education sector to be listed on the Egyptian Stock Exchange; (ii) the Offering Legal Counsel in the landmark secondary offering of 4.5% of the shares in Eastern Company; Egypt’s is leading tobacco manufacturer, for the value of EGP 1.7 billion, which marks the first and so far the only transaction in the public offering program announced by the Egyptian Government and finally (iii) the Offering Legal Counsel in the listing of the shares of Fawry Banking Technology and Electronic Payments (“Fawry”)on the Egyptian Stock Exchange and the secondary offering of 36% stake held by the majority shareholder for the value of USD 275,000,000. Fawry is the first E-payment company to be listed and traded on the Egyptian Exchange.
The Firm is also engaged in two (2) IPO’s in the banking and energy sectors and is advising on a potential IPO in the FMCG sector.
In addition to advising on major transactions, the Team provides its Clients, whether listed or closed companies, with corporate advice and is recognized in the market for its expertise in restructuring, mergers, demergers, increases and reductions of capital as well as employee stock option plans.
During the past few years the Team has executed or advised on the very few mergers and demergers that were successfully implemented in Egypt and thus enjoys unique practical expertise in this area. Of special mention are : (i) the merger of Egyptian Glass Company S.A.E. into Guardian Egypt Glass Company S.A.E., currently Guardian Egypt Egyptian Glass Company S.A.E., (ii) the merger of Italgen Gulf El-Zeit for Energy S.A.E into Italgen Misr for Energy S.A.E based on the book value; and (iii) the first vertical demerger in Egypt under the new demerger rules and regulations of Helwan Cement Company S.A.E
Due to the extensive restructuring experience of the Team, we continue to represent major Clients in their Group restructuring involving complex transactions and innovative solutions. Currently the firm is assisting two major clients in implementing cross border Group restructuring in the sectors of food and restoration and automotive and finance industries.
Finally our Firm, and the Team are consistently ranked as a Top Tier Firm and a Top Tier Team/practice by leading international directories including the IFLR and Legal 500. Our individual partners also consistently receive recognition and top rankings by the various international directories.
Zulficar & Partners is an international arbitration and corporate law firm based in the Nile City Building in the heart of Cairo, Egypt. It mainly specializes in arbitration; banking and project finance; construction; M&A; capital markets; energy; IT and telecoms; competition; labor; tourism and leisure; and litigation. The Firm offers a comprehensive range of legal services to a diverse array of clients, both in Egypt and internationally.
The Firm provides a comprehensive and bespoke range of state-of-the-art legal services to a diverse portfolio of national and international commercial, investment, industrial and financial clients, as well as states and state-owned entities. It is well-known for its innovative, strategic and result-oriented techniques and services. The Firm has already established itself as a market leader and precedent-maker across all sectors and disciplines, with a clear track record of success. It is regularly ranked as a top-tier firm in all practice areas, and its partners and lawyers are regularly ranked as top-tier in world-leading directories, including GAR, Legal 500, IFLR, and Chambers Global.
The Firm is regularly ranked as a top-tier dispute resolution and arbitration practice and is the only Egyptian Firm that featured for no less than seven consecutive years in the GAR 100 guide to the world’s top arbitration firms since 2015, with star practitioners such as Professor Dr. Mohamed S Abdel Wahab, who heads the firm’s arbitration group; and Mahmoud Shaltout, who heads the firm’s litigation group. The IFLR 1000 ranks the Firm as Tier 1 in Banking, M&A, Project Finance and Capital Markets: Debt & Equity, and acknowledged Mona Zulficar, Ashraf Ihab, Dr. Ingy Badawy, and Anwar Zeidan as Highly Regarded Lawyers, Dr. Firas El Samad as a Notable Practitioner, Mariam El Masry and Rana Al Nahal as Rising Stars. Furthermore, the Legal 500 ranked the Firm as Top Tier in Banking and Finance, Commercial Corporate and M&A, and Dispute Resolution Arbitration and Litigation, naming Mona Zulficar, Ashraf Ihab, Anwar Zeidan, Dr. Ingy Badawy, Prof. Dr. Mohamed S. Abdel Wahab, and Mahmoud Shaltout as Leading Individuals. Youssef Al Saman was mentioned as a Next-generation partner in Dispute Resolution: Arbitration. Dr. Ingy Badawy was also named in the IFLR1000 Women Leaders of 2022 for her continuous achievement.
In 2021, Chambers & Partners ranked the Firm as Band 1 in Dispute Resolution: Arbitration and Litigation and in Banking and Finance, naming Mona Zulficar as “one of the best banking and finance lawyers in the country” Prof. Dr. Abdel Wahab “an absolute star in arbitration”, and Mahmoud Shaltout as Band 1 in Dispute Resolution: Litigation, stating that he is “regarded by interviewees as an “exceptional lawyer” Band 1 in Capital Markets naming Anwar Zeidan “a leading figure in Egyptian capital markets”, and Ashraf Ihab is noted for “his in-depth knowledge of bond issuances and securitizations”. In 2022, WWL says “Mohamed Abdel Wahab is an all-time great of construction arbitration”. In 2022, the Firm won Merger Control Law Firm of the Year in Egypt by the global law annual awards for the work done by Dr. Firas El Samad in this area.