Liaquat Merchant Associates > Karachi, Pakistan > Firm Profile

Liaquat Merchant Associates
JURIS PK
4C
9TH ZAMZAMA COMMERCIAL LANE, PHASE V, DHA, KARACHI
Pakistan

Pakistan > Banking and finance Tier 1

Liaquat Merchant Associates has a strong range of expertise in banking matters, including project finance, leveraged and acquisition financing in addition to electronic banking matters. In addition it is renowned for its experience in Islamic financing and Sharia compliant modes of financing and it routinely advises major national and international banks on their Islamic banking products and documentation. Head of department Faresa Jafarey Ahsan has a broad practice that covers the full spectrum of the space, and name partner Liaquat Merchant is also well-regarded.

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Other key lawyers:

Key clients

Pak Brunei Investment Company Limited

PAIR Investment Company Limited

JS Bank Limited

United Bank Limited

Bank AL Habib Limited

Habib Bank Limited

Faysal Bank Limited

Work highlights

  • Drafted various financing documents for Pak Brunei Investment Company Limited to various customers, the aggregate portfolio of such financing adds up to a total of PKR3.8bn.
  • Advised Faysal Bank Limited, JS Bank Limited, Bank AL Habib Limited during the pandemic on the implementation structure and documentation required in respect of the relaxation in loan payments and deferrals advised by the State Bank of Pakistan.
  • Drafting the Islamic and conventional housing finance legal documentation for Bank AL Habib Limited and Soneri Bank Limited pursuant to State Bank of Pakistan’s Mera Pakistan Mera Ghar (low-cost housing) scheme.

Pakistan > Islamic Financing Tier 1

Liaquat Merchant Associates fields a strong team that is adept at drafting Shariah compliant standard documentation. Faresa Jafarey Ahsan heads the department that advises on both conventional and Islamic banking and finance matters. It is well-regarded for its expertise in all areas of Islamic and Sharia compliant modes of financing and routinely advises major national and international banks on their Islamic banking products and documentation.

Practice head(s):

Key clients

Pak Brunei Investment Company Limited

Faysal Bank Limited

Habib Bank Limited

Bank AL Habib Limited

Soneri Bank Limited

JS Bank Limited

Awwal Modarba Management Limited

Work highlights

  • Advised Pak Brunei Investment Company Limited on a PRK1.5m syndicate facility extended under both conventional and Shariah compliant modes of financing, included drafting a Musharkah Agreement and a rental payment agreement.
  • Advised PBIC and Awwal Modaraba on a complex restructuring / settlement of finance facility in the amount of PKR300m extended to Orbit Developers.  The team drafted the settlement agreement, the addendum to the Diminishing Musharaka Agreement, the addendum to the Rental Payment Agreement and the addendum to the Unit Purchase Agreement.
  • Advised Faysal Bank Limited as lead bank for the consortium of financial institutions, and drafted all documents in relation to a project finance transaction, in the amount of PKR 1.5bn, pursuant to a special scheme introduced by the State Bank of Pakistan, for a customer in establishing a storage/handling project

Pakistan > TMT Tier 2

Liaquat Merchant Associates regularly advises companies spanning a range of industries on issues such as the acquisition of software applications as well as various software license agreements, outsourcing agreements in addition to software and hardware maintenance contracts. It also frequently advises on service level contracts and escrow agreements. In addition the team continues to advise numerous banks on their software applications with leading IT companies. Faresa Jafarey Ahsan is among the key members of the group.

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Testimonials

‘The people are exceptionally nice. The billing is on point and transparent’.

‘They have a strong grip on the Fintech and IT sector. They guide us covering all aspects.’

‘Extremely efficient, expert advice and competitive pricing. The whole team is excellent’.

Key clients

MasterCard

Allied Bank Limited

Covalent (Private) Limited

DLA Piper

Archiving Data Solutions (Private) Limited

Rajah & Tann Singapore LLP

Zapp One Systems (Private) Limited

Careem Pakistan

Bank AL Habib Limited

PSI Pakistan

Avanza Premier Payment Services (Private) Limited

Work highlights

  • Completed an extensive regulatory scan questionnaire for MasterCard in respect of its plans of establishing a payment gateway in Pakistan.
  • Completed a global survey for the benefit of AIG on data privacy and protection laws in Pakistan.
  • Rendered detailed advice for DLA Piper Hong Kong in relation to the relevant applicable data privacy laws and telecommunication laws in respect of the Request for Proposal to be submitted by Amdocs to Telenor for cloud services.

Pakistan > Capital markets Tier 3

Faresa Jafarey Ahsan leads an experienced team at Liaquat Merchant Associates, which advises on a wide range of capital market issues. The team is well equipped to handle a broad range of derivative transactions in Pakistan such as foreign exchange options, repo transactions and regularly advises on a diverse range of ISDA documentation.

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Key clients

Syngenta Pakistan Limited

Pi Pakistan (Private) Limited

ANZ Banking Group, Hong Kong

International Finance Corporation

Pakistan Stock Exchange Limited

Work highlights

  • Reviewing, drafting and advising on various commercial agreements pertaining to Syngenta’s business as a leading manufacturer and distributer of agricultural products including distribution agreements, novation agreements, manufacturing agreements, advertisement agreements, agricultural trial agreements and warehousing and lease agreements with various service providers and counter parties.
  • Advising and assisting in the initial funding rounds of a media startup (funding raised in the amount of $6m), and assisted in its successful bidding for broadcasting rights in respect of the Pakistan Super League.
  • Advised Pakistan Stock Exchange in respect of complex issues such as listing applications for a company whose shareholder was also a shareholder in another listed company that has been placed into the Defaulters Segment.

Pakistan > Corporate and M&A Tier 3

Liaquat Merchant Associates regularly advises multinational companies and foreign clients on the full spectrum of corporate and commercial matters. The team is vastly experienced on issues as diverse as corporate governance and regulatory compliance in addition to joint venture arrangements, mergers and acquisitions and liquidations. Other strengths include advising on de-mergers, preparing schemes of arrangements and obtaining pre-merger approvals from the Competition Commission. It has particular expertise in the pharmaceutical sector and the group frequently represents bidders in various privatisations in Pakistan. Faresa Jafarey Ahsan heads the department.

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Key clients

Go Petroleum Limited

Sui Southern Gas Company Limited

Bank AL Habib Limited

VTTI B.V.

Hascol Terminals Limited

Archiving Data Solutions (Private) Limited

Ernst & Young Germany

Bahria Classification Society

Pakistan LNG Terminal Limited

Dow University of Health & Sciences

Pi Pakistan (Private) Limited

Work highlights

  • Advised the sponsors on the repurchase of the investors’ shares (Vitol Dubai) in the company in a transaction that is worth around $15m.
  • Advised VTTI B.V on an equity financing by the issue of further shares and highlighting various scenarios under the relevant laws and identifying procedures and procedural challenges in respect of each of the scenarios. The client is a foreign shareholder in a local company in the oil and gas sector and the advice rendered considered the foreign shareholder’s control over the said company.
  • The firm has been engaged by Hascol Terminals Limited on a retainer capacity and furnishes opinions from time to time, including advice on contracts of the client with third parties and advice and services relating to corporate secretarial matters as well as representations/ communications with the Companies Registry, the Securities and Exchange Commission of Pakistan.

Pakistan > Labour and employment Tier 3

Under the direction of Faresa Jafarey Ahsan the team at Liaquat Merchant Associates provides legal advice and representation to its domestic and international clients in relation to employment, labour and human resource management issues. The versatile team continues to represent companies, employees and civil servants before the High Courts, Labour Courts and Service Tribunals. In addition it is well-placed to advise on issues as diverse as the termination of employment to a wide range of regulatory matters.

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Testimonials

 

 

Key clients

Mckinsey & Co.

DLA Piper

PwC LLP

National Bank of Pakistan

Hascol Terminals Limited

Work highlights

  • Advised a client of DLA Piper UK LLP on employment, pensions and benefits issues concerning an M&A deal.
  • Advised a client of DLA Piper Middle East LLP in reference to its proposed business restructuring plans across the Middle East.
  • Engaged by National Bank of Pakistan to update, revise and render legal advice on all the human resource policies of the the bank in light of the relevant laws, rules and market practice. Pursuant thereto the team has modified policies including, the Employee Disciplinary Policy, Code of Conduct, Health Policy, Leave Policy, Persons with Disability Policy, Staff Finance Policy, Salary Adjustment Policy and Grievance Policy.

Pakistan > Projects and energy Tier 3

Liaquat Merchant Associates has advised on a variety of major power projects including hydroelectric power projects, coal-based power projects and wind power projects. It has also been working with some major foreign law firms on various important projects. The team is recommended too for its commercial, corporate and regulatory advice on all aspects of LNG-based project documents. Faresa Jafarey Ahsan leads the agile team, which also includes Hira Ahmad who is particularly recommended for her work on natural gas matters. Another notable member of the team is Mustafa Mumtaz who is well-regarded for his work in the oil and gas sectors as well as power projects, including alternative energy projects.

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Other key lawyers:

Key clients

Sui Southern Gas Company Limited

Karachi Infrastructure Development Corporation Limited

ZKB Partners

Sindh Solid Waste Management Board

Pakistan LNG Terminal Limited

Bahria Foundation

Work highlights

  • Advising ZKB Partners as the bidder for the tender relating to the development of Dhabeji Special Economic Zone (SEZ), a project with an estimated worth of PKR1.2bn.
  • Advising Karachi Infrastructure Development Corporation Limited on general infrastructure projects, which are approximately worth around $1bn, and on the establishment of the Green Line Bus Routes and hiring of operators, consultants and contractors.
  • Appointed as legal advisors to Sui Southern Gas Company Limited to advise on the execution of an addendum to the gas transportation agreement under which SSGC is to transport the RLNG to Sui Northern Gas Pipelines Limited after having regasified the LNG at the Engro LNG Terminal at Port Qasim, Karachi.

Pakistan > Dispute resolution

In Karachi Liaquat Merchant heads the department at Liaquat Merchant Associates that routinely represents multinationals and local corporations in cases before the local courts and in alternative dispute resolution cases.  The group is also well equipped to handle cross-border disputes.

Pakistan > Real estate and construction

Faresa Jafarey Ahsan leads the team at Liaquat Merchant Associates that has extensive experience in advising clients on real estate development, construction and conveyancing matters.