PROJECT FINANCE & BANKING

 

Qureshi Law Associates Banking & Finance practice reflects the firm’s position as a leader in Pakistan. The practice advises a number of prominent local and international banks and companies on their finance operations and activities in Pakistan.

The practice advises lenders and borrowers on all aspects of structuring, negotiating and documenting finance transactions ranging from power plants to loans for companies and firms . We represent local and international banks and financial institutions in both conventional and Islamic transactions.

The Banking & Finance practice provides advice in a wide range of areas:

• Banking regulation and supervision
• Islamic finance
• Banking litigation and enforcement
• Ship, aircraft and asset financing
• Real estate financing
• Trade and export financing
• Project finance
• Securitization
• Incorporation and licensing of financial institutions
• Structuring Public Private Partnerships

Much of the work undertaken relates to loan documentation, financial recovery and restructuring/winding-up of companies, opinion work on security  collateralization, priority of mortgages/charges etc. Some of our past work includes:

                                   

• Restructuring and sale of assets through a ‘scheme of arrangement’ of the former Prime Minister of Pakistan, Nawaz Sharif’s companies, Ittefaq group,  through the Court.
  
  
• Collateralization of loans after assessing the balance sheets, current liabilities, loan documents and legal sufficiency of the property to be mortgaged as security with respect to the loan amounts on behalf of NDFC with respect to the biggest TV cable company, Worldcall Limited, in Pakistan.
  
  
• Main external legal counsel to two banks i.e. the National Development Finance Corporation & the Bank of Punjab for recoveries, settlement negotiations with defaulters, loan documentation, opinion work, restructuring of debts etc.
  
  
• Settlement proceedings against Barex Limited, owned by prominent newspaper publisher, Mujib-ur-Rehman Shami, through a mutually agreed upon sale of assets/land to a 3rd party through the Court. Extensive drafting including trust deeds, auction notices, receipt notices, with extensive terms & conditions designed to protect the Bank.
  
  
• Liquidation proceedings of Sheikh Impex Public Ltd, a large public limited company in liquidation and sale of its assets by 7 creditor banks disputing the priority and ranking of mortgages and charges due to the insufficiency of the properties to pay the total loan amounts. Represented NDFC and argued for the priority of its mortgages/charges against the other secured creditors before the High Court.
  
  
• Financial recoveries of extensive amounts through courts for banks including opinion work on opening a bank branch for NDFC bank in Lahore, Pakistan. Made the most cash recoveries by a single lawyer in a year on behalf of the Bank of Punjab (38% of total cash recoveries).
  
  
• Securitization of assets for loans to one of the largest textile companies in Pakistan, Nishat Textile Mills through mortgages and charges, title search, company register searches, documentation etc.
  
  
• Rescheduling agreement between the Bank of Punjab and Bilal Spinning Mills Ltd and drafting of a surety bond by a 3rd party in consideration of this rescheduling agreement for the benefit of this debtor. The 3rd party had agreed to stand as a principle debtor/surety cum indemnifier under a joint and several liability at source. Work was done on behalf of the Bank of Punjab.                     

 

 

For more information please contact info@qureshilawassociates.com