Project Finance in the CIS
In a market hit by a limited availability of financing brought on by the global economic crisis, project finance practitioners in the CIS describe an interesting shift in their practice. Asian capital and investors are becoming increasingly prominent as key players in the field, especially for large infrastructure and alternative energy projects where international financing in conjunction with local sources is a must. Contributors further highlight a market “still heavily driven by oil and gas activity” with large pipeline projects fuelling tremendous interest as a result.
With a strong compliment of domestic and international expertise a prerequisite for project finance practitioners, our research uncovers 44 individuals recommended for their gold-standard industry know-how and commercial savvy.
Four partners are included from Magisters, two of whom are based in the firm’s Moscow office. Kirill Ratnikov and Ilya Skripnikov are clear client favourites, commended for their “outstanding grasp of technical financing issues and hands on approach”. Olga Khoroshylova is “an absolute must for inclusion” and “one of the key names to select” for project finance in the Ukraine. In Belarus, Anna Rusetskaya provides “high quality advice”.
Two names are listed from Baker & McKenzie – CIS Limited. In Azerbaijan, Aykhan Asadov is a “very impressive” lawyer. In Kazakhstan, Maxim Grekov is “an outstanding lawyer” whose noteworthy client base includes Tyumen Oil Company, Integra Group and TNK-BP.
Two are included from Allen & Overy Legal Services in Russia. Managing partner of the Moscow office Anthony Humphrey is “world class” and currently advising on the development of the Nadex light rail network. Andrei Baev is “sharp and clever” with “terrific expertise in structured and project finance”. At Baker Botts LLP Maxim Levinson is “an excellent name for international financing transactions”. Steven Wardlaw is a favourite with leading energy companies who commend his “commercial acumen and unwavering focus on [their] business objectives”. Igor Ostapets at White & Case LLC is “very effective”. At Linklaters CIS, Dmitry Dobatkin is a “talented lawyer” with a “broad range of financing know-how” and Daniel Tyrer is a “fantastic, stand out name”. Anton Klyachin at Salomons is “top flight”. Bleddyn Phillips at Clifford Chance CIS Limited is “top tier for energy and infrastructure projects”. At Salans Glenn Kolleeny is “a fine lawyer”. Praised by his peers as “wonderfully intelligent”, Kolleeny recently advised international investors in the development of the Jerooy gold deposit in Western Kyrgyzstan. Oleg Batyuk, who is based in Ukraine, has “excellent experience working with major financial institutions”.
Elsewhere in the Ukraine, Vladimir Lukovich at Frishberg & Partners is a “highly successful, knowledgeable practitioner”. Managing partner at Spenser & Kauffman, Valentyn Zagariya is a trusted advisor to several major companies and “exceptionally strong for private financing”. Grischenko & Partners’ Oleg Vysochinsky, who has been involved in financing for major foreign corporations and the European Bank for Reconstruction and Development, is “great at tackling technical issues and finding practical solutions”. Maksim Kopeychykov from Ilyashev & Partners is an “expert for project finance” whose client base includes ProCredit Bank CJSC. Iryna Marushko at Lavrynovych and Partners is “highly recommended” and at Asters, Oleksiy Didkovskiy is “brilliant”. Contributors “would not hesitate in referring a client to” managing partner at Cai & Lenard, Konstantin Pilkov. Senior associate Illya Muchnyk at DLA Piper Ukraine LLC is “a very strong practitioner with a promising future”. Avellum Partners’ Mykola Stetsenko is “impressive and commercially tuned in”. At Sayenko Kharenko, Michael Kharenko is consistently mentioned for his “vast international finance expertise”.
Five names are included in Kazakhstan. At his own firm Michael Wilson & Partners Ltd, Michael Wilson has “a wonderful depth of expertise”. At Curtis Mallet-Prevost Colt & Mosle LLP Askar Moukhitdinov’s “broad commercial and oil and gas know-how really delivers added value to projects”, according to clients. Kenneth Mack at Chadbourne & Parke LLP, who also lists in our mining chapter is “terrific”. His “impressive work portfolio” includes advising Chevron on the project financing of a multi-billion dollar expansion programme at Tengiz. Semion Issyk at Aequitas is “sharp and highly effective” and at SNR Denton, Joel Benjamin is “superb”.
In Belarus, two names are included from Borovtsov & Salei where name partner Vassili Salei is described by peers as a “leading light” and Alexander Botian is “brilliant”. Sorainen’s Maksim Salahub is “a highly skilled practitioner”. At Vlasova Mikhel & Partners, Tatiana Emelianova is “very bright”, provides “practical, client-focussed advice” and “is a pleasure to work with”.
At MGB Law Offices in Azerbaijan, Elchin Mammadov is “top flight”. Ismail Askerov is a “star” and receives reams of industry praise.
In Armenia, Ameria Legal Practice’s Karen Babalyan is “a highly astute adviser” and Andrew Mkrtchyan is “an excellent choice for project finance”. At Arlex International Ltd, Thomas Samuelian provides “sound, solutions-orientated advice”.
At Turcan & Turcan in Moldova, Alexander Turcan and Octavian Cazac, who also list in our trade and customs chapter, are “tremendous”.
In Kyrgyzstan, Gulnara Kalikova at Kalikova & Associates is “incredibly well thought of”.