By virtue of being the leading corporate law firm of Pakistan, and having acted for clients like the World Bank, International Finance Corporation, Asian Development Bank, Overseas Private Investment Corporation, CDC Group Plc, Citibank NA, ABN Amro Bank N.V., Standard Chartered Grindlays Bank Limited, Habib Bank Limited, National Bank of Pakistan, United Bank Limited, Allied Bank Limited, NIB Bank Limited, Union Bank, Muslim Commercial Bank Limited, Meezan Bank Limited and Faysal Bank Limited and more than 90 foreign financial institutions who have provided financial facilities to Pakistani borrowers, the Firm enjoys the benefit of substantial experience in all kinds of financial transactions. The Firm has the unique advantage of having an in-house Sharia’h expert as Mr. Ahsan Zahir Rizvi, senior partner of the Firm, who is not only a Master of Laws from the University of London in corporate law, but also a Master of Arts in Islamic Studies from the University of Virginia, USA. Mr. Rizvi, is thus, not only well-versed in the requirements of Sharia’h but also in the requirements of the classical interest based financing transactions.
The Firm has acted for the lenders and borrowers in various project finance and syndicated financing transactions of more than Rs.10 billion and has drafted and negotiated loan agreements, security documentation and sub-ordination agreements for scores of transactions. In addition the Firm has represented issuers in corporate finance transactions of nearly Rs. 3 billion. The documentation drafted by the Firm in the early 1990s pertaining to term finance services is still being utilized in similar transactions.
The big ticket corporate finance transactions in which the Firm has acted for issuers and local financial institutions include:
The Firm has also acted in the following transactions:
- PTC GDRs of US$ 900 million.
- OGDC GDRs of US$ 1 billion.
- US$ 70 Million Murabaha financing for Pakistan International Airlines by a consortium of United Bank Limited, Habib Bank Limited and National Bank of Pakistan for acquisition of aircraft
- Rs. 1 billion term finance certificates issued by ICI Pakistan Limited.
- Term Finance Certificates issued by Sui Southern Gas Company Limited, Sui Northern Gas Pipelines Limited, Lakson Tobacco Company Limited and Sapphire Textile Mills Limited.
- Initial Public Offer of Rs 270,000,000 of Al-Meezan Investment Bank Limited.
- The 15,000,000 GDRs of Lucky Cement Limited.
- Counsel for lenders in the US$ 500 million Engro Expansion Project.
- Counsel for lenders in the Halmore Power Project.
- Counsel for lenders in the Nishat I& II Power Projects.
- Counsel to the Overseas Private Investment Corporation (“OPIC) in its US$ 10 million credit facility to Tameer Micro Finance Bank Limited.
- Counsel to Cisco Systems Finance International, Ireland for the proposed US$ 4 million loan facility by Cisco Systems Capital Corporation to Wateen Telecom (Private) Limited.
- Counsel for Export Banque (Paris) in connection with a financing facility to a local telecommunication company.
- Counsel for the Acumen Fund in connection with their financing projects in Pakistan.
The litigation department of the Firm has represented all the major financial institutions in claims against their borrowers and has simultaneously utilized its expertise in defense of claims filed by banking companies and other financial institutions.
Mr. Qazi Faez Isa, the litigation partner of the firm, was till recently a director of National Bank of Pakistan, the largest banking company of Pakistan.
- ABN Amro Bank NV
- Allied Bank Limited
- Asian Development Bank
- Askari Commercial Bank Limited
- Askari Leasing Limited
- BankIslami Pakistan Limited
- Barclays Bank Plc
- BMA Capital Investment Company
- Citibank NA
- Crédit Agricole Suisse (S.A.)
- Faysal Bank Limited
- Grays Leasing Limited
- Habib Bank Limited
- KASB Securities Limited
- Meezan Bank Limited
- Muslim Commercial Bank Limited
- National Bank Limited
- NIB Bank Limited
- Pak Oman Investment Company Limited
- Pak-Kuwait Investment Bank
- Prime Commercial Bank Limited
- Saudi Pak Commercial Bank Limited
- Standard Chartered Bank (Pakistan) Limited
- Union Leasing Limited
- United Bank Limited
- World Bank
