Banking, Finance and Restructuring Team of the Year: Clifford Chance
'It will no doubt serve as a blueprint for similar deals in the future,' said one judge
June 23, 2015 at 07:03 PM
2 minute read
Highly commended: Allen & Overy
Finalists: Al Tamimi & Company • Ashurst • Hogan Lovells • Pinsent Masons • Simmons & Simmons
It was for the expertise of its regional Islamic finance team that Clifford Chance (CC) was handed this award following its work advising mortgage provider Amlak on its restructuring.
The firm has been instructed by Amlak since 2008, with the AED10bn (£1.8bn) restructuring including several novel Islamic structures, such as the first Shari'a-compliant convertible contingent instrument. CC also advised on the lifting of the suspension from trading of Amlak's shares.
In its entry the magic circle firm points to a number of factors that make it stand out from the competition in the region. It is the only international law firm to operate a mixed foreign-owned firm partnership in Saudi Arabia with a fully fledged banking and finance practice of Saudi and expat lawyers, and it is the only magic circle firm with a partner-led asset finance practice in the region.
"A hugely impressive entry that demonstrates the strength and depth of its Islamic finance team," said one judge. "It will no doubt serve as a blueprint for similar deals in the future."
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