Eminent international law firm Conyers, Dill & Pearman sowed its seeds in the global city of Dubai in 2006 and has since shown significant victories across an array of sectors.

Dubai is a global city, a business hub whose influence extends through the MENASA region and links investors and business opportunities from East and West. At its heart, and seeing business burgeoning, is international law firm Conyers, Dill & Pearman, which advises on the laws of international financial centres Bermuda, the BVI, the Cayman Islands and Mauritius, and provides clients with an array of corporate services through its affiliates (Codan).

TAKING THE PLUNGE IN DUBAI

Kerri Lefebvre joined Conyers in 2000, and as the head of office has overseen a transformation of the Dubai office founded in 2006. She is excited about the future of the city, the region and the future of the firm in the Middle East.

"While we have experienced consistent growth since opening in Dubai, the last two years have seen a significant spike in demand. Dubai is clearly in a growth phase, with returning consumer and investor confidence and we are very well placed to assist our clients in developing structures to optimise inbound and outbound investment opportunities."

"Dubai is very much a hub for economic activity in this region, frequently bringing together international investors from developed and emerging markets to do business. The authorities in Dubai have developed tremendous infrastructure and other resources, and the Emirate is very much used by global corporate groups as well as by the entrepreneurial sector as the base for employees, investments and trading in the region and throughout Africa as well," said Lefebvre.

"While many undertakings operate through local free zone entities (such as the Dubai International Financial Centre (DIFC) where Conyers is based), international investors frequently will structure their shareholdings in local vehicles through our jurisdictions, as they offer a neutral platform with modern, flexible company law, a highly respected commercial court and a deep pool of experienced professional advisors."

"Moreover, our jurisdictions have demonstrated their commitment to international initiatives promoting transparency and cooperation regarding anti-money laundering/counter terrorism financing and taxation, implementing rigorous due diligence requirements and tax information exchange agreements. "All of these factors are key to joint ventures and other multi-shareholder structures in a global environment."

SECTORS INVOLVED IN BUSINESS

The main streams of revenue in Dubai are from real estate, financial services, tourism and aviation. The Emirate attracts a wide variety of industry, and is developing a vibrant private sector.

The firm's areas of expertise are closely aligned with Dubai's revenue and investment streams – key practice areas are corporate (particularly M&A, joint ventures and capital markets), investment funds (hedge funds and private equity), banking and finance (conventional and Islamic) and shipping and aviation.

Within those areas, the firm also has experience in numerous industry sectors including oil and gas, mining, hospitality, clean energy and real estate. Offering multi-jurisdictional advice and services allows attorneys to focus on developing structures that best serve the client's requirements. The firm also attracts extensive business from Qatar, Abu Dhabi, Kuwait and Saudi Arabia.

Lefebvre added,"We have seen a significant expansion of demand for services, with some extremely interesting transactional work. We are working on several major acquisitions and there are new IPO instructions for companies in the region that have been building up their operations and now are saying that it is time to go to the market.

"Conyers has an extensive M&A practice and a wealth of experience with IPOs on exchanges around the world, including the NYSE and NASDAQ as well as European and Asian exchanges."

"We have a market leading listing practice globally. For example, in Hong Kong (where over 80 per cent of companies listed were incorporated offshore), we have acted on 60 per cent of all offshore listings. As a result, we are very well-placed to work with international onshore firms to assist regional clients with major transactions of this type as the market develops."

Lefebvre went on to note that regional clients are particularly appreciative of the integrated legal and corporate services model that Conyers provides. The firm's focus on corporate services has been enhanced by the appointment of counsel Dennis Ryan, a legal consultant with wide experience, to oversee the department.

The Dubai office also has an award winning funds practice, driven by director Fawaz Elmalki, who specialises in investment funds, including private equity funds, real estate funds, infrastructure funds and hedge funds, including Shari'a-compliant funds.

"We have worked to build our presence in Dubai and develop relationships with onshore firms, financiers and corporate groups, and the Dubai team has done a remarkable job of gaining traction in this market."

"We have concentrated on making our culture client driven," added Kerri. "We have senior lawyers supported by corporate administrative personnel who have a vast depth of experience in transactional work and a lot of knowledge about how business works in the region. We are concerned about what is best for the client. We have the technical experience, the local know-how and we work towards viable solutions for the client."

It is that approach that has seen the firm win numerous awards, including being named Chambers Global Offshore Law Firm of the Year for 2014 and gaining top rankings in Legal 500's 2015 edition, with the Dubai office singled out as "the standout leader in Dubai for offshore work."

NOTABLE DEALS

The firm has advised on the offshore aspects of a number of high profile matters in the MENA region, such as:

  • the acquisition by HM MOS International Limited of Millennium Offshore Services Superholdings, LLC, a leading provider of global offshore jack-up accommodation service vessels to the oil and gas industry
  • the acquisition by AIM listed Qannas Investments Limited of interests in ADCM SPEF L.P. and SPE Qannas C Limited and its continuation into the Cayman Islands
  • the formation of Shari'a compliant Alkhabeer US Real Estate Income Fund Limited
  • the restructuring of Dubai Holdings Investment Group (which won Deal of the Year awards at the IFLR Middle East Awards)

The New Year will herald a new beginning for the firm as well, when Mark Hultum joins Conyers' Dubai office from Clifford Chance in Hong Kong, where Hultum was a senior associate.

"We are very excited about having Mark starting in January. His focus will be on building the firm's banking and finance practice, as well as general corporate work. At the moment the office is operating at near total capacity.

"There are no signs of things slowing down and this is a great time to expand our team and the business. Mark's Hong Kong experience will be particularly valuable as Asian investors continue to increase their stake in the region."

As originally seen in The Oath – December 2014

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