IFLR 1000
The Guide to the World's Leading Financial Law Firms

Kuwaiti firm ASAR - Al Ruwayeh & Partners launched an office in the country in 2006 and have been building up its market share ever since.

Practice head Michael Durgavitch has been active on a number of deals in the last 12 months that display the firm's range of capabilities.

In some notable project work, he advised steel manufacturer SULB on the tender offer for an engineering procurement contract for the construction of a new $2 billion plant.

In refinancing work, Durgavich advised client United Stainless Steel Company on amending it's $380 million loan facility for a steel plant. The deal closed in December 2010.

Another impressive achievement for the firm saw it set up the first ever Australian equities fund in Bahrain for Hyperion Investment Company. It is expected to launch in September 2011.

One of the most respected local firms on the market, Asar - Al Ruwayeh & Partners receives the approval of its peers. "They are certainly one of the leading firms in Kuwait," says one. "Pretty much every large engagement you are going to see them on one side of the deal," explains another. Clients are equally complimentary with one saying the firm are, "the best Kuwaiti advisors by some margin" and adding that "no other firm in Kuwait offers a better overall service."

International practise head Sam Habbas is considered one of the firm's main attributes, with one client describing him as an "excellent lawyer, who really knows the market." Rob Little is another singled out for praise with several regarding him as the firm's "star performer." One client remarks that he is very capable and says: "He has seen it all before and provides polished, understated advice and reassurance."

In September 2010, Little and Ezekiel Tuma, who is described as "promising" by a client, advised Fairfax Middle East Holdings, a Canadian company on its acquisition of 39.2% stake in a listed Kuwaiti insurance company for $212 million.

On the firm's largest M&A deal Ibrahim Sattout and Akram Al Zu'bi advised International Finance Corporation (IFC) on it's purchase of Jeezan Holding and Kuwait Invest in deal worth KD79.6 million ($282.3 million).

Long standing client Kuwait Finance House meanwhile have mandated the firm to advise on the $1 billion restructuring of the debts of Aref Investment Group. Hossam Abdullah and Akram Al Zubi closed the deal in November 2010.

In repossession, Little and Tuma combined with Habbas to act for two leading international aircraft leasing companies, International Lease Finance Corporation and Aercap Aviation Solutions, in regard to the repossession of four airbus aircraft from a Kuwaiti airline that suspended its operations.