Although present in the country for over 30 years (second only to Baker & McKenzie in terms of longevity), some former clients of Norton Rose have grown despondent with its service. "Norton Rose have lost their way a little bit in Bahrain....
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Although present in the country for over 30 years (second only to Baker & McKenzie in terms of longevity), some former clients of Norton Rose have grown despondent with its service. "Norton Rose have lost their way a little bit in Bahrain. They've had a lot of management changes or personal changes so they've lost a lot of their continuity and I think they've changed their focus to Dubai a little bit," says one referring to the relocation of global head of Islamic finance, Neil Miller, to Dubai office in 2009 and the subsequent appointment of Mohammed Paracha, who returned to the firm after three years in London with Al Salam Bank Bahrain.
Although clients welcomed Paracha's appointment, there is a feeling that other firms have stolen a march: "This time last year I would of thought Norton Rose would of been pushing ahead but it's actually the likes of Charles Russell and Trowers & Hamlins."
Competitors, however have a different view with one insisting: "They are an excellent law firm." One peer highlights Adrian Woodcock in particular: "He is very competent in structuring deals and direct in his questioning."
Since his return Paracha has been active and one deal saw him advise Novus Aviation Services and Millennium Aircraft Leasing on a combined $11.5 million financing for a lease and refinancing by PK Airfinance of one Airbus A319 to China Eastern Airlines.
Alongside Freshfields, the practice has close links to the Government and is currently active for the Ministry of Works on the development of a privatisation strategy for the entire wastewater sector in Bahrain, part of the 2030 plan. In February 2011 partner Jonathan Brufal and projects and infrastructure practice head, Dominic Harvey, advised the Ministry of Finance, in partnership with HSBC and Fichtner Bahrain, on the financing of a wastewater treatment plant and conveyance system in Muharrak. The project is the first plant procured by the Government of Bahrain on a PPP (public-private partnership) basis with a projected capital expenditure of $250 million and a 27-year operating license.
In 2010 the firm were also involved in the deal to construct a waste-to-energy plant and integrated waste management system in Bahrain, also one of the first PPPs of its kind to close in the region. It advised French company, Constructions Industrielles De La Méditerranée, in securing the contract and 25 year operating license in June.
Outside of government work, Harvey is advising the lenders, Mizuho Corporate Bank, Sumitomo Mitsui Banking Corporation and Yamato Kogyo, of a $1.1 billion facility in relation to the construction and operation of a direct reduction iron plant, a steel melt shop, a heavy section mill and related infrastructure in Bahrain.
In partnership with HSBC, the firm is also active for the sponsors of Korean chemical companies, Sipchem and Hanwha Chemical, $750 million petrochemical project in Jubail, Saudi Arabia.
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