Top UAE law firm Hadef and Partners, one of the largest and most prominent UAE Law firms, was awarded the IFLR Middle East Restructuring Deal of the Year award, for its role as UAE counsel to the issuer Dana Gas PJSC.
The firm advised Dana Gas PJSC on the UAE law aspects of the restructuring of its sukuk, which was a first of its kind in the Middle East. The firm advised Dana Gas PJSC in restructuring its US$1 billion convertible suku-al mudarabah. The restructuring was particularly complex due to the Sharia’ah structure underpinning the existing sukuk and the need to restructure through a Sharia’ah complaint method. It was also complex because the deal required collated real estate security interests in the UAE to be secured as part of the sukuk arrangements.
The restructuring team was led by Banking & Finance Partner Alan Rodgers with work carried out by Executive Partner, Richard Briggs and lawyers Lori-Ann Campbell and Shahrzad Molavi.
Alan Rodgers, Head of Banking & Finance of the firm’s Dubai office, commenting on the firm’s success, said, “This transaction was complex and interesting because of the need to address UAE insolvency and Islamic issues in relation to the sukuk-al-mudaraba. We are honoured to have received this prestigious and respected award. The judging panel looks to award recognition for teams who have responded innovatively to the demands of the market. I’m pleased that our team provides consistently high levels of service in complex deals in the market.”
The firm was also shortlisted in two further categories, “Project Finance Deal of the Year” in recognition of Hadef & Partners involvement in providing UAE legal advice to the lenders on the Phase II expansion of the Emirates Aluminium (EMAL) smelter project in Abu Dhabi, and “Pro Bono Firm of the Year” in recognition of the firms’ commitment to Corporate Social Responsibility in the region.
Hadef & Partners works on some of the region’s most high profile and complex matters, including drafting some of the UAE’s most significant pieces of legislation. The Banking & Finance team is widely recognised by local and international businesses as a go-to firm for UAE banking and finance, Islamic finance, project finance, financial services and restructuring advice.
Tuesday, October 29- 2013 @ 5:11 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.