Banking and Finance

We have advised multinational banks on complex queries including, inter alia, providing legal framework for different types of securities in Egypt and advised on alternative ways to secure debts. Advised companies as borrowers in finance and refinance deals worth USD 500 million. We have advised on issues pertaining to Repo transactions, FX regulations and Single Obligor under Egyptian Laws.

The following is a brief of cases that we have worked with or against national and international banks:

  • We have represented a leading private equity company before a consortium of Egyptian banks to settle their facilities in conformity with the Single Obligor provisions under the Central Bank of Egypt rules and regulations, which was finally settled in conformity with these rules.
  • We have represented an Egyptian importation company to reach a settlement re their controversies with Emirates NBD in Egypt pertaining to letter of credits.
  • We have won an important case against Bank Misr pertaining to evaluation of assets of Mohamed Ali Pasha (former king of Egypt) and accordingly the amounts of granted loans in favor of his heirs.
  • We are representing a leading company (borrower) in Egypt working in the steel field in rescheduling their loans with Alex Bank and Audi Bank.
  • We have won four cases filed against the Ministry of Finance with an amount exceeding EGP 500 million as a compensation for the sequestration and nationalization of their assets.
  • We have leaded the negotiations and reached settlement with Commercial International Bank of Egypt, Credit Agricole (Cairo and Paris Branch) and several banks in Egypt, while representing an Egyptian Family business company, whose one of its shareholders is based in Paris.
  • We have assisted Bank Misr, National Bank of Egypt, ADIB, AAIB in executing the real estate collaterals emerged from unsettled loans through incorporating a joint stock company to hold and execute such assets in settlement of such loans. (we have a restriction in the Banking Law that banks cannot hold the title of immovable for a long time).
  • We have worked with the European Bank for Reconstruction and Development (EBRD) and provided legal assistance and opinions while conducting their business in Egypt.
  • We have represented a Family business company in Egypt working in the construction field and won arbitration against Le Meridian and several banks in Egypt.
  • We have represented a leading Egyptian Company (Saudian shareholders) working in the field of construction, development and hotel management pertaining to rescheduling their debts with National Bank of Egypt, HSBC, CIB.
  • We have worked on the merger of Credit Lyone in Credit Agricole in Egypt.

We have worked with HSBC, CIB , NBE,  AAIB,  Bank of New York Mellon, JP Morgan and Morgan Stanley in several opinion and transaction re different types of collateral under Egyptian Laws.

About

Riad, Saleh & Partners (“Firm”) is a full service independent law firm based in Cairo, Egypt founded in 2015 by leading lawyers with focus on Corporate & Commercial, Mergers & Acquisitions, Capital Market, Business Structuring, Oil and Gas, Banking and Finance, Telecom and Technology, Intellectual Property, Disputes Resolution and Employment.

Contact Us

Building 6, The Polygon Business Park, SODIC West. 38 KM Cairo/Alex Rd, Sheikh Zayed Giza, Egypt

+ (2) 01226000038

+ (2) 01000771010

mohamed.saleh@riadsaleh.com