Liaquat Merchant Associates > Karachi, Pakistan > Firm Profile

Liaquat Merchant Associates
C-5, Block 4, Clifton
Karachi
Pakistan

Pakistan > Banking and finance Tier 1

A leading firm with a long-established banking practice, Liaquat Merchant Associates advises clients on the full breadth of banking and finance legal services with expertise in Islamic and Sharia compliant modes of financing. The team is well-versed in structuring corporate and consumer financing, leveraged and acquisition financing, and electronic banking. The department is chaired by experienced banking practitioner Faresa Jafarey Ahsan. She is supported by Hira Ahmad, who advises leading banks on finance agreements and regulatory matters, and senior associates Surrina Nasir and Asad Karim.

Practice head(s):

Faresa Jafarey Ahsan

Other key lawyers:

Testimonials

‘The team provide exceptional client service, have positive word-of-mouth, embrace technology, have great marketing, and have a team with expertise that is consistent with the firm’s mission.’

‘Excellent logical, analytical, research and writing skills, prepare effective, clear and well-reasoned legal documents and arguments that require research, plus a strong analytical and logical approach.’

‘The blend of knowledge of laws, statutes, regulations, customs, and experience in a variety of situations and legal expertise make their practices unique.’

‘Continued learning of existing resources and the addition of new talent diversify and allow them to have a fresh look in their repertoire of educated human resources.’

‘They allow dedicated resources on a case-to-case basis, which appear as subject specialists. They are good and patient listeners and allow us ample time to deliberate our matter. It establishes a good understanding of the case at both ends before we go into written communication with them.’

‘We are allowed meetings with them as and when required with the development and emerging changed situations, if any.’

‘Faresa Jafarey Ahsan needs to be specially mentioned since it appears to be a trickle down effect as the whole team, including but not limited to Hira Ahmad and further associates, demonstrate professional attributes of good conduct, technical knowledge, and practical experience. It all allows us to learn from their wisdom, procure legal advice, and seek opinions in the interest of our bank.’

Key clients

Pak Brunei Investment Company Limited

PAIR Investment Company Limited

JS Bank Limited

Habib Metropolitan Bank Limited

Bank AL Habib Limited

Habib Bank Limited

Faysal Bank Limited

OLP Financial Services Pakistan Limited

Pak Oman Investment Company Limited

Soneri Bank Limited

Standard Chartered Bank Pakistan Limited

EXIM Bank of Pakistan

Bank Alfalah Limited

Work highlights

  • Advised a consortium of banks comprising MCB Bank Limited, National Bank of Pakistan, Habib Bank Limited, United Bank Limited, and Allied Bank Limited in respect of finances extended to Trading Corporation of Pakistan for the aggregate amount of PKR175 Billion for the period commencing from 01.01.2023 up to 31.12.2023.
  • Assisted Pak Brunei Investment Company Limited with drafting facility and security documents in relation to financing disbursed to various customers, and the aggregate portfolio of such financing adds up to a total in access of PKR5bn.
  • Advised a consortium of banks comprising of United Bank Limited, National Bank of Pakistan, and Allied Bank Limited Bank Alfalah on short term capital finance extended by the banks individually to the Hub Power Company Limited for an aggregate amount of PKR10bn.

Pakistan > Corporate and M&A Tier 2

Comprising a large specialist M&A team, Liaquat Merchant Associates offers a full-service corporate and commercial offering from incorporations and financing to winding-up and liquidation. The team regularly acts for government entities, multinationals, and leading banks, and has particular expertise in the areas of privatisation and the pharmaceutical sector. The team is led by Karachi-based Faresa Jafarey Ahsan. Ahsan is supported by Shayan Ahmed, who advises on regulatory matters across a range of industries and on corporate, competition, employment, and investment matters and Mustafa Mumtaz , who handles complex transactions and sales.

Practice head(s):

Faresa Jafarey Ahsan

Other key lawyers:

Syed Shayan Ahmed; Mustafa Mumtaz; Hira Ahmad

Testimonials

‘A very vibrant team, always receptive. Integrated, well-read and informed, they provide quick responses and detailed legal opinion with well-founded precedents and international references as well.’

‘The relationship management is immaculate with a corporate touch. Faresa Jafarey Ahsan and Syed Shayan Ahmed are supremely informed with national and international legal developments.’

Key clients

Gamalux Oleochemicals Limited

DLA Piper

Karachi Hydrocarbon Terminal Limited

Dow University of Health Sciences

Wemsol (Private) Limited

State Life Insurance Corporation

Addleshaw Goddard (Middle East) LLP

Schneider Solutions and Services (Private) Limited

Exim Bank of Pakistan

Sui Southern Gas Company Alternate Energy

Alere Medical Pakistan Private Limited

Sui Southern Gas Company Limited

FINCA Microfinance Bank Limited

K & L Gates, Australia

Citco Mercator

Work highlights

  • Acting on behalf of SNA Equity SDN BHD on its acquisition and subscription of approximately 88m equity shares of Gamalux Oleochemicals.  
  • Advised Dow University of Health Sciences on establishing and setting up of a not-for-profit company whereby the client aims to establish a sero-biology facility with a project value of PKR 250m.
  • Successfully rendered all incorporation services for Sui Southern Gas Company Limited in respect of incorporation of its subsidiary.

Pakistan > Projects and energy Tier 2

Headquartered in Karachi, Liaquat Merchant Associates is experienced in handling major power, hydroelectric, and liquified natural gas projects. The practice is led by Faresa Jafarey Ahsan, who regularly advises companies on Pakistan’s laws and regulations in relation to the power and energy sector. She is aided by UK-based Hira Ahmad, who brings over 12 years of experience in the area and is able to assist clients in making submissions to regulatory bodies. Meanwhile, Mustafa Mumtaz advises on pipeline projects and mining projects, as well as divestment and privatisation within the sector.

Practice head(s):

Faresa Jafarey Ahsan

Other key lawyers:

Testimonials

‘Knowledgeable of laws of various jurisdictions with professional ethics.’

‘Good diversity and collaboration.’

Key clients

Sui Southern Gas Company Limited

Karachi Infrastructure Development Corporation Limited

Sui Southern Gas Company Alternate Energy

Al Ghurair Investment LLC

Pakistan LNG Limited

Bahria Foundation

Work highlights

  • Advised Sui Southern Gas Company Alternate Energy (Pvt.) Ltd. on the laws, rules, regulations, and policies of Pakistan which govern off specification gas and on how it can purchase the off specification gas, convert the same to specification gas, ship, sell and distribute the same.
  • Represented Al Ghurair Investments in the sale of TransAsia Refinery Limited for USD4.5m.
  • Advised Sui Southern Gas Company Limited on the payment of sale proceeds of sellers working interest under the Gas Supply and Purchase Agreement entered between the client and sellers of gas in the Badin-IV South region.

Pakistan > TMT Tier 2

Liaquat Merchant Associates is headquartered in Karachi and regularly advises leading banks and software companies, boasting an in-depth knowledge of Pakistan’s telecoms sector. The team frequently drafts documents on software applications, licensing agreements, and outsourcing agreements. Of recent note, it has further developed its practice in the technology sphere, and is assisting startups looking to expand into the territory. The practice is led by the acclaimed senior partner Faresa Jafarey Ahsan, who is noted for her experience representing telecoms companies in licensing matters. She is supported by Mustafa Mumtaz, an expert in corporate and commercial law, as well as raising investor funds for major clients in the internet streaming industry, and UK-based practitioner Hira Ahmad.

Practice head(s):

Faresa Jafarey Ahsan

Other key lawyers:

Testimonials

‘Very few law firms in Pakistan understand Regtech, whereas LMA, as a team, masters it. We have been engaged with LMA for granting approval of a SaaS based Trade Credit Insurance related software with offshore cloud hosting. They worked with us for more than 6 months over this and remained our legal protection and guardians during the contract negotiation, drafting, and finalisation of offshore contract with a reputed software vendor. The team worked brilliantly on this project.’

‘Hira Ahmad worked with us diligently and actively on contract drafting, negotiation, and finalisation of international contact with the software supplier. The legal expertise of LMA partners in this field is commendable.’

Key clients

DLA Piper

MasterCard

Wemsol (Private) Limited

Allied Bank Limited

Covalent (Private) Limited

Pi Pakistan

Archiving Data Solutions (Private) Limited

Rajah & Tann Singapore LLP

Zapp One Systems (Private) Limited

Careem Pakistan

Bank AL Habib Limited

Habib Metropolitan Bank

Avanza Premier Payment Services (Private) Limited

EXIM Bank of Pakistan

Work highlights

  • Advised Covalent (Private) Limited on various contracts for technology related services provided by the client to banks, telecom companies, and utility companies.  
  • Assisting DLA Piper Nederland N.V. for Ikea with reviewing an intra-group data transfer agreement, which catered to data transfer to and from Pakistan, and advised the client on compliancy issues.  
  • Assisted the client with carrying out an assessment of local data privacy laws to gauge whether Pakistan’s legislation may put the personal data of the client at risk.

Pakistan > Capital markets Tier 3

Specializing in transactional and non-contentious matters, Liaquat Merchant Associates is well-known for advising clients on the national regulatory landscape and listings on the Pakistani Stock Exchange. Of recent note, the firm has acted on behalf of HBL Asset Management Limited, a wholly owned subsidiary of one of the largest and oldest banks in Pakistan. The team is led by industry veteran Faresa Jafarey Ahsan, who represents many of the country’s leading banks. She is supported by Shayan Ahmed, who plays a key role in advising the Pakistani Stock Exchange on new products, compliancy issues, and securities, and Hira Ahmed, who is based in the UK.

Practice head(s):

Faresa Jafarey Ahsan

Other key lawyers:

Key clients

Pakistan Stock Exchange Limited

HBL Asset Management Company

Bank Julius Baer

Work highlights

  • Advised the Pakistan Stock Exchange on the introduction of a Sharia-compliant products.
  • Advised HBL Asset Management Company on, and drafted documentation relating to, the first cattle-fattening fund of Pakistan.
  • Advised Bank Julius Baer on product offering frameworks in Pakistan.

Pakistan > Labour and employment Tier 3

Headquartered in Karachi, Liaquat Merchant Associates is skilled at representing companies, employees, and civil servants before the High Courts, Labour Courts, and Service Tribunals. Catering to both domestic and international clients, the firm regularly acts for international law firm DLA Piper and global management consultant McKinsey & Co., as well as leading national banks. Industry veteran Faresa Jafarey Ahsan leads the practice with the support of UK-based Hira Ahmad, a notable expert in the field who advises clients on drafting HR policies and employment contracts.

Practice head(s):

Faresa Jafarey Ahsan

Other key lawyers:

Key clients

Mckinsey & Co.

DLA Piper

PwC LLP

National Bank of Pakistan

Finca Microfinance Bank

Entravision – Jack of Digital

Engro Corporation

Work highlights

  • Advised DLA Piper UK regarding its client, Uber, on specific queries on maternity and paternity leaves for employees in Pakistan.
  • Advised DLA Piper Middle East regarding its client, Cisco, on post pandemic issues, such as return to offices and access.  
  • Advised Entravision on its standard employment contracts for its employees based in Pakistan.  

Pakistan > Dispute resolution Tier 4

Headquartered in Karachi, Liaquat Merchant Associates' dispute resolution practice enjoys a strong reputation in the fields of medical negligence and civil and administrative transactions, and the group frequently represents leading energy companies, banks, and hospitals. Industry veteran Liaquat Merchant heads the practice and is supported by Shayan Ahmed, who is well-regarded for obtaining interim injunctions from the high court and the resolution of complex litigation.

Practice head(s):

Liaquat Merchant

Other key lawyers:

Testimonials

‘Team is responsive with excellent communication skills and prompt service.’

‘Professional knowledge, dealing with their clients in a fair and transparent way.’

Key clients

Pakistan Oxygen Limited

Standard Chartered Bank (Pakistan) Limited

Pakistan Stock Exchange

Habib Metropolitan Bank Limited

Karachi Hydrocarbon Terminal Limited

Pak Brunei Investment Company Limited

The Aga Khan University Hospital

Sindlab (Private) Limited

Bank AL Habib Limited

Work highlights

  • Acted for Karachi Hydrocarbon Terminal Limited in defending the recovery proceedings filed by National Bank of Pakistan before the High Court at Karachi in its jurisdiction as the Banking Court for a recovery amount of PKR8bn.
  • Acting for Standard Chartered Bank Limited in a Suit and a Constitutional Petition in a matter wherein the plaintiff has alleged unauthorised transfer of funds.
  • Representing Aga Khan Hospital and Medical College Foundation in a medical/clinical negligence claim wherein the Plaintiff instituted a suit in the High Court of Sindh at Karachi claiming general and special damages with a total claim of over PKR70m.

Pakistan > Real estate and construction

Liaquat Merchant Associates is well-known for advising clients on property assets as well as construction related projects, building standards, and regulations. The team is led by renowned litigator Faresa Jafarey Ahsan, who is assisted by Shayan Ahmed, an expert in town planning regulations, and Hira Ahmed, who advises on construction contracts.