Habib Al Mulla & Company’s banking practice provides ‘competitive and appropriate services with reasonable fees’ Legal500, 2012

Private Equity has been crucial to the growth and development of the UAE over the last few years. As in all mature and emerging markets a full range of private equity options exist in the UAE. At Habib Al Mulla & Co. we have experience in all forms of private equity and will advise our clients on the most suitable forms for their particular needs.

Asset Finance

Asset finance enables companies to obtain funding for the purchase of assets they need to run & grow their businesses successfully. Paying cash outright for capital assets can be a significant drain on your company's working capital. With asset finance you will ease your cash flow through regular payments over an agreed period of time. With the availability of liquidity in the G.C.C. in general and in the UAE in particular Asset Finance has become an industry in its own right. Our broad and extensive experience in the field of asset finance has given us our reputation in the market. We have worked on several multibillion Dirham deals in relation to asset finance. We have drafted and legally structured all the asset finance products for one of the largest banks in Dubai and we are still advising the same on day to day operations. To date the volume of asset finance agreements we have worked on for the said bank exceeds 1.8 billion Dirhams. We have assisted several international and national companies in drafting and reviewing their agreements in relation to asset finance. Our team recently structured a deal to provide a Fortune 100 company asset finance of up to 3.5 Billion Dollars.

Project Finance

In the last few years the UAE and Dubai in particular have witnessed some of the most ambitious projects in the world come to fruition. At Habib Al Mulla & Company we have mastered the complex mix of legal, financial and regulatory issues involved with the building of mills, mines, power plants, industrial facilities, real estate developments and similar capital-intensive construction projects. Our lawyers offer project finance assistance to lenders and borrowers for these complex structures. On the lender side, we advise institutional investors on construction and development financing. Typical of our borrower representation, we have acted for various publicly traded entities as well as private corporations in senior project debt financing from a syndicate of banks.

Real Estate Finance

We have extensive experience with commercial mortgage and construction finance involving real estate acquisition and development. Our lawyers have good working relationships with all major financial institutions. We have advised on loan structures and negotiated and settled financing documents from both the borrower’s and lender’s points of view.

We handle environmental due diligence as part of documenting and closing these financing transactions and in the event of default or foreclosure have advised lenders on mortgage remedies and security enforcement alternatives to help them maximize debt recovery.

Subordinated Debt and Mezzanine Financing

Our Banking & Finance lawyers are skilled at helping mid-market and entrepreneurial businesses pursue the financing options that occupy the wide capital market range between senior debt and common equity. Often these transactions enable our clients to bridge the gap between senior debt and equity financing to pursue acquisitions and other opportunities.

We help lenders secure the control and return they seek while enabling borrowers to obtain the capital they need for growth. We negotiate the priorities and subordination agreements among the various classes of creditors. This enables us to structure the financing package for the debentures or notes to involve equity shares, convertible preferred shares and sale-leaseback arrangements. 

Service

• Subordinate debt and mezzanine financing
• Asset financing
• Project financing
• Real estate financing

Our Experts

 

Douglas G. Smith

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Position:	Senior Legal Consultant
Contact:	douglas.smith@habibalmulla.com
Admitted:	1998, England and Wales,1998, Law Society of Hong Kong Solicitor; 1983, Law Society of Upper Canada Barrister and Solicitor
Education:	LL.B. Queen’s University, Kingston, Ontario Canada, 1981; B.A. (History, Politics) Queen’s University, Kingston, Ontario, Canada, 1978
Language(s):	English
Expertise:	Asset Finance / Securitisation Commercial Corporate Finance & Capital Markets Corporate Structuring & Restructuring Cross-Border Transactions Employment Law Infrastructure Projects Intellectual Property/Franchising Mergers & Acquisitions Investment Funds Private Equity Regulatory & Public law
Practice & Experience:	With over 25 years’ experience, Douglas’s main areas of practice include corporate law, M&A, private equity, equity-related securities offerings (including IPOs and secondary offerings), corporate restructurings, joint ventures and the drafting, negotiation and settlement of associated documentation and commercial agreements. He also advises on corporate governance and regulation within the UAE. Douglas has been involved in complex transactional work in numerous jurisdictions in the Middle East, North America and Europe, as well as in East and Southeast Asia, including China, Malaysia, Indonesia, Thailand, Singapore and India. Douglas is on the board of directors of numerous public and private companies and frequently speaks on corporate and commercial law. He is a former lecturer at Carlton University in Ottawa, Canada and at the University of Hong Kong as well as a guest lecturer at the City University of Hong Kong. Douglas holds an LLB from Queens University in Canada. He is admitted to the Bar of England and Wales, the Hong Kong Bar and the Canadian Bar.
Publications/Papers:	"The Use of Trusts for Asset Protection in the UAE,” In-House Lawyer, March 2010. "Commentary On The Dubai World Insolvency Code - Toward A Clearer Path,” Mondaq, January 2010. "International Stock Purchase Acquisitions: Summaries of International Law,” American Bar Association, 2007 Edition "China Commercial Contracts,” LegalStudio (4th Edition, 2005-6), Co-Editor and Contributor, Author Finance and Banking chapters "Proposed Changes to Companies Law,” International Financial Law Review, October, 2004 "The New Listing Rules,” International Financial Law Review, August, 2004 "Hong Kong Company Law Reform,” International Financial Law Review, April, 2004 "Due Diligence in Commercial Transactions,” Hong Kong Lawyer, October, 2000
Publications:	Commentary upon the Dubai World insolvency code by Douglas G. Smith and Shoeb Saher, MONDAQ, 16 December 2009 (151 KB )   Use of Trusts for Asset Protection in the UAE by Douglas G. Smith, The In-House Lawyer, April 2010 (1.256 KB ) "Foreign Ownership Restrictions: The Perspective From the Gulf”, International Bar Association Journal, August 2010
Speaking Engagements:	"The Legal Framework for M&A: strategies, pitfalls and the Legislative Landscape,” MEED Mergers and Acquisitions Summit, Abu Dhabi, UAE, December 2009 "Business Development in the Middle East Conference, Forming Alliances and Partnerships - the Indigenous Law Firm Perspective,” The Lawyer ?Dubai, UAE, April 2009 "Conducting Business in the Gulf,” China Law and Practice Hong Kong In-House Summit, Hong Kong, March 2009 "Centres of Islamic Finance panel,” Pacific Business Press, 2009 UAE In-House Counsel Forum, Moderator: Dubai, UAE, March 2009 "Conducting Due Diligence in Cross-border Transactions,” Lexis/Nexis Due Diligence in Commercial Transactions Conference, Hong Kong, March 2008 "Conducting Due Diligence in PRC Transactions ? Evaluating Your Partner or Target,” American Conference Institute Second National Symposium on Mergers and Acquisitions in China, New York City, NY, USA, December 2006 "Overview of PRC Commercial Law: Legislative and Practical Developments,” Alliance for Tax, Legal, and Accounting Seminars (ATLAS) Fourth Annual Summit on Legal and Financial Strategies for Doing Business in China, New York City, NY, USA, November 2006 "Drafting Letters of Intent and MOUs in China Transactions,” American Conference Institute, National Symposium on Mergers and Acquisitions in China, San Francisco, CA, USA, May 2005

 

Mazen Boustany ACSI

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Position:	Partner, Head of Banking & Finance, Dubai
Contact:	mazen.boustany@habibalmulla.com
Admitted:	1997, Beirut Bar, Lebanon; Registered Practitioner in the DIFC Courts
Education:	Basel III professional 2011; Securities Certificate (endorsed by the FSSC & the FSA) 2010; FSA Financial Regulation Qualified (CISI), 2010; Islamic Finance Qualification, Securities and Investment Institute, UK, 2007; LLB in Lebanese Law, Saint Joseph University, Lebanon, 1996; Maitrise in Private Law, Paris II University, France, 1994; Maitrise in Political Sciences, Paris II University, France, 1994
Language(s):	English, Arabic, French
Expertise:	Banking & Finance Asset Finance / Securitisation Commercial Corporate Finance & Capital Markets Cross-Border Transactions Debt Restructuring Insurance/Takaful Law Investment Funds Islamic Finance Private Equity Arbitration / ADR
Practice & Experience:	Mazen has over 15 years’ experience in banking and finance law in the Middle East and has practised in the UAE for more than five years. He advises on all aspects of banking and finance law including Islamic finance, structured finance, securitisation, private equity, structuring and restructuring, cross-border transactions and investment funds. He is also experienced in domestic and international arbitration and is a qualified banker. Having spent many years as a senior in-house lawyer, Mazen’s advice is commercial and practical in nature. He frequently conducts training for corporate in-house teams on banking and finance law and regulation in the UAE. Mazen is fluent in English, Arabic and French and holds a Masters degree in Private Law and Political Sciences from Paris II University, an LLB from Saint Joseph University in Lebanon and an Islamic Finance Qualification from the Securities and Investment Institute in the UK.  He is a member of the Securities Industry Management Association (SIMA) and has been awarded the CISI Level 3 Certificate in Investments – Securities, he is also a certified Basel III professional (2011) and a DIAC qualified arbitrator. Mazen is admitted to the Beirut Bar and is a registered practitioner before the DIFC courts.
Publications/Papers:	"Mortgage Law in the UAE,” The Brief, February 2009 "Latest developments in Islamic Finance,” The Brief, January 2009 "Inheritance Law in the UAE,” The Brief, October 2007
Publications:	Shenanigans over sharia (Letter to the Editor) by Mazen Boustany, The Brief, 2008 (157 KB )   Taking back distressed assets by Mazen Boustany, The Brief, February 2009 (1.290 KB )   Lessons to be learned by Mazen Boustany and Muhammad Syamsulfaiz Bin Zainuddin, Asian-Counsel, March 2010 (2.009 KB )   UAE Insolvency law Exists by Mazen Boustany, The In-House Lawyer, May 2010 (1.693 KB )   What went wrong? Credit crisis and Islamic finance by Mazen Boustany & Muhammad Syamsulfaiz, The In-House Lawyer, June 2010 (1.787 KB )   Rethinking UAE Insolvency Law by Mazen Boustany, The Brief, July 2010 (672 KB ) Combatting Fraud and AML in the UAE Dubai Mortgage Law: Much ado about nothing The pledge of commercial premises The pledge of a banking deposit.
Speaking Engagements:	•    CCME Roundtable, Islamic Finance vs Conventional Finance.      11th March 2012 •    CCME Roundtable, Anti-corruption, issues and implications for      UAE companies. 26th February 2012 •    The 8th Annual ME Insurance Forum, Bahrain, February 2012 •    Bribery and Corruption in SWF, a practical application, 3rd Middle      East Summit on Anti-Corruption, January 2012 •    Mutual legal assistance, cooperation and collaboration in the      context of the UAE, C5, January 2012 •    C5 Fraud and Asset Tracing and Recovery, Dubai, 24th January       2011 •    The impact of shari’a on the insolvency of Islamic Financial      Institutions - IBA Conference, Dubai, November 2011 •    Fraud and AML in the UAE  - C5, Fraud, Asset Tracing and      Recovery Conference, Dubai, January 2011. •    Shari’a and Islamic Finance in the UAE - IBA Islamic Conference      Dubai, November 2010. •    IBA Islamic Finance day in Dubai, 3rd November 2010 •    Canadian Business Council, June 2010                        •    Saudi Investment Private Equity Summit, Saudi Arabia, April 2010 •    DIAC Roundtable on Insolvency, Dubai Chamber, March 2010 •    Introduction to Islamic Finance, Asian In-House Counsel, Hong      Kong, March 2009 •    Islamic Financial Products, In-House Counsel, Dubai, February      2009
Professional Associations and Memberships:	Associate at the Chartered Institute for Securities and Investment External Subject Matter Expert for "The EDCOMM Group Banker’s Academy" Member of the Securities Industry Management Association (SIMA)