2014

  • Deutsche Investitions– und Entwicklungsgesellschaft mbH – US$13,000,000 loan facility involving Maldives’ Housing Development Finance Corporation
  • Damac Ocean Heights Company Limited, division of DAMAC Properties Co. LLC, Dubai, U.A.E. – foreign investments concerning Fasmendhoo Island Resort Development Project, Raa Atoll, Maldives
  • Banca Monte Dei Paschi Di Siena S.p.A., and SACE S.p.A. (Italy) – US$ 6,938,400 loan facility concerning T&D Water Technologies and Development for supply and installation of an Integrated Energy System
  • Habib Bank (Colombo Branch) and Nations Trust Bank, Sri Lanka – Mortgage over Ellaidhoo Island Resort as security for a multi-million US Dollar-denominated loan facility.
  • Blackstone Group – Acquisition of controlling interest in Maldivian Air Taxi and Trans Maldivian Airways

2013

  • Blackstone Group – Acquisition of controlling interest in Maldivian Air Taxi and Trans Maldivian Airways

2012

  • Mauritius Commercial Bank Limited – foreclosure proceedings concerning US$ 15 million term loan to Athama Investments Pvt Ltd for development of 5-star luxury resort hotel Mandarin Oriental Maldives at Maavelaavaru
  • Habib Bank Limited – US$ 12 million refinancing transaction with Yacht Tours Maldives

2011

  • Moofushi Development Ltd – US$ 39 million loan facility for re-development of 5-star luxury resort hotel Constance Moofushi Resort, Ari Atoll, Maldives
  • Bank of Ceylon Limited – US$ 4 million loan transaction concerning Jumeirah Vittaveli Maldives, Male’ Atoll
  • Eastinvest Pvt Ltd – US$ 5,790,000 million loan from Mauritius Commercial Bank Ltd for re-development of the 5-star luxury resort hotel Constance Halaveli Resort, Ari Atoll, Maldives
  • Xanadu Holdings Pvt Ltd – US$ 6 million loan from Mauritius Commercial Bank Ltd for development of Jumeirah Dhevanafushi Maldives, Gaafu Alifu Atoll
  • Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO) – US$10,000,000 financing to Housing Development Finance Corporation (HDFC)
  • Marriott International Inc. – Resort hotel development and management project in Maldives

2010

  • Mauritius Commercial Bank Ltd – US$10,000,000 additional loan financing for development of Viceroy Maldives Resort, a joint venture with the Abu Dhabi Government’s Mubadala Group
  • Bank of Ceylon Limited – US$ 3,700,000 loan financing to Blue Lagoon Investments for acquisition of Raafushi Island, Noonu Atoll, Maldives
  • Barclays Bank Seychelles – US$51,500,000 syndicated loan to Naiade Group concerning re-development of Diva Maldives Resort, Maldives
  • Mauritius Commercial Bank Ltd- US$22,000,000 loan concerning Six Senses Group and Sonevafushi Resort, Maldives
  • Hatton National Bank – US$15,000,000 loan facility to Maldives Tourism Development Corporation secured over resorts receivables from Minor Group (Thailand)
  • Islamic Corporation for Development of Private Sector – US$15,000,000 financing facility to Horizon Fisheries Pvt Ltd
  • Mauritius Commercial Bank Ltd – US$8,000,000 term loan concerning Constance Halaveli Resort, Maldives
  • Bank of Ceylon Ltd – US$7,500,000 loan facility to AAA Group for development of Dholhiyadhoo Resort, Maldives
  • Hatton National Bank – US$5,000,000 loan facility to Aitken Spence Hotel Group (Sri-Lanka) concerning Rannaalhi Resort, Maldives
  • Mauritius Commercial Bank Ltd – US$5,000,000 loan to Eastinvest Group concerning trade facilities
  • Mauritius Commercial Bank Ltd – US$3,500,000 aircraft acquisition financing loan to Trans Maldivian Airways
  • International Finance Corporation – Cleaner Production Project loan of US$2,500,000 to the Universal Group
  • International Finance Corporation – credit facility to Maldives Finance Leasing Company Limited
  • Union Bank of Canada – term loan facility for sale of seaplane aircraft owned by Trans Maldivian Airways
  • Bidder – public-private partnership concerning Male’ International Airport
  • Thailand’s Onyx Group – joint venture with Maldives Tourism Development Corporation (MTDC) for acquisition and management of Herathera Island Resort

2009

  • International Finance Corporation – US$50,000,000 loan for Addu Investments Pvt Ltd
  • Aareal Bank AG – US$30,000,000 loan facility to Banyan Tree Group subsidiary Maldives Bay Pvt Ltd concerning Velaavaru Resort, Maldives
  • Societe De Promotion Et De Participation Pour La Cooperation Economique S.A (PROPARCO) – US$8,500,000 credit facility to Sun Investment Pvt Ltd
  • Aareal Bank AG – US$7,500,000 loan facility for acquisition of Sheraton Maldives Full Moon Resort and Spa by Starwood Group
  • Bank of Ceylon Ltd – US$5,000,000 loan to ADK Travels Pvt Ltd
  • Jumeriah International LLC – US$3,000,000 loan to Xanadu Holdings Pvt Ltd
  • Jumeirah International LLC – management agreements for Meradhoo Island Resort, Maldives
  • Hitachi Plant Technologies – acquisition of Male’ Water & Sewerage Company
  • World Bank – country-wide survey concerning corporate governance in the Maldives

2008

  • Aareal Bank AG – US$ 57,500,000 financing of sublease acquisition of Full Moon Resort, to be re-branded as a Sheraton hotel by Starwood Hotels
  • Asian Development Bank, International Finance Corporation and HDFC Investments Ltd of India) – US$ 12,500,000 equity investment in the Housing Development Finance Corporation Plc
  • Islamic Corporation for the Development of the Private Sector – establishment of a bank in the Maldives
  • The Ritz-Carlton Hotel Company – acquisition, development, management and financing of Maldives resort property
  • Mauritius Commercial Bank Ltd – US$ 30,000,000 loan transaction for the Kanuhura Island Resort
  • Barclays Bank (Seychelles) Ltd – US$ 20,000,000 trade finance facility for shipping and trading company
  • Hatton National Bank – US$ 16,000,000 loan transaction for Vadoo Island Resort, Maldives
  • Starwood Hotels & Resorts – acquisition, development, management and financing of Maldives resort property
  • Mauritius Commercial Bank Ltd US$ 15,000,000 loan transaction for Machchafushi Island Resort
  • Island Aviation Services Ltd – aircraft purchase
  • Mauritius Commercial Bank Ltd – US$ 15,000,000 loan transaction for Maavelavaru Island Resort
  • Bank of Ceylon Ltd – US$ 10,500,000 loan transaction for airport hotel, Kaadedhoo
  • Hatton National Bank – US$ 9,000,000 loan transaction for Konotta Island Resort
  • Mauritius Commercial Bank Ltd – US$ 6,000,000 loan transaction for development of a tourist resort hotel on G.A. Kuredhoo, Maldives
  • Dubai Properties Group – acquisition, development, management and financing of Maldives resort property

2007

  • The Emirates Investment Group – acquisition, development, management and financing of Maldives public infrastructure development
  • InterContinental Hotels Group – acquisition, development, management and financing of Maldives resort property
  • The Kor Realty Group – acquisition, development, management and financing of Maldives resort property
  • Hampshire Hotels & Resorts, LLC – acquisition, development, management and financing of Maldives resort property
  • Aareal Bank AG – US$ 20,000,000 loan transaction for Soneva Gili Resort and Six Senses Spa
  • Abu Dhabi Commercial Bank and Nedbank Ltd – US$ 100,000,000 syndicated loan re-financing concerning One&Only Reethi Rah Resort, Maldives
  • Mauritius Commercial Bank Ltd – US$ 18,000,000 revolving credit financing facility for fuel commodities trading to Coastline Investments Pvt Ltd
  • Nedbank Ltd – US$ 35,000,000 loan financing concerning One&Only Kanuhura Resort, Maldives
  • International Finance Corporation (IFC) – US$ 30,000,000 loan financing to Universal Resorts Group, Maldives
  • Hongkong and Shanghai Banking Corporation (HSBC) and all lenders – US$ 29.5 million syndicated loan concerning Randheli Island Resort, Maldives
  • Barclays Bank Plc, Standard Bank (Mauritius) Ltd, The Mauritius Commercial Bank Ltd, and State Bank of Mauritius Ltd) – US$ 42 million syndicated loan financing facility for re-development of White Sands Resort & Spa
  • Mauritius Commercial Bank Ltd – US$ 19,175,000 syndicated loan financing facility for development of Maakanaa Resort on Vagaru Island
  • Mauritius Commercial Bank Ltd – US$ 24,500,000 syndicated loan financing facility for development of Irufushi Island Resort
  • Aareal Bank AG – US$ 15 million loan transaction for re-developing Veligandu Island Resort
  • Sampath Bank – US$ 12 million loan transaction for re-developing Dhon Veli Island Resort
  • OPEC Fund for International Development – US$ 3 million line of credit for Maldives Finance Leasing Company Pvt Ltd
  • HSBC Trinkaus & Burkhardt AG – Euro 5,056,410 loan to Villa Shipping & Trading Co. Pvt. Ltd
  • Aitken Spence Hotel Holdings Limited – acquisition and US$ 16 million loan concerning Vaadhoo Island Resort to be branded as an Adaaran Prestige Vaadhoo Maldives
  • Airport Investments Maldives Pvt Ltd – bidding of development project for four islands
  • Mauritius Commercial Bank Ltd – banking license and establishing a branch in the Maldives

2006

  • Marriott International Inc. and Ritz-Carlton – Maldives resort hotel development and management project
  • Four Seasons Group – US$ 55 million financing and development of Four Seasons Landaa Giraavaru Resort, Maldives
  • Owner – contract for management and operation of Hilton Seychelles at Northolme Hotel
  • Starwood Hotels & Resorts ­– matters concerning new “W” Hotels Fesdu Resort in Maldives
  • Le Méridien Hotels & Resorts – matters concerning Kihaadhuffaru Resort, Maldives
  • Shangri-La Hotels and Resorts – development of a US$ 100 million resort on Villingili Island, Maldives
  • Owner – contract with Raffles International Group for management and operation of Raffles Resort, Konottaa Island, Maldives
  • Oberoi Hotels and Resorts Group – develop and manage US$ 35 million resort on Randheli Island, Noonu Atoll, Maldives
  • Banyan Tree Group – re-development of Banyan Tree Velavaru matters
  • Six Senses Resorts and Spas Group – Sonevafushi, Soneva Gili, Olahali and development of new resort projects in Maldives
  • Aareal Bank AG – US$ 50 million loan for Banyan Tree Group’s Maldives resort development projects
  • Aareal Bank AG – US$ 35 million loan for Hilton Hotel Group’s Maldives resort development project
  • Bank of Ceylon Ltd – US$ 8.5 million financing of John Keells Group’s acquisition of Ellaidhoo Resort
  • Bank of Ceylon Ltd – US$ 12 million financing of John Keells Group’s acquisition of Dhon Veli Resort
  • Mauritius Commercial Bank Ltd – various resort loan financing transactions
  • Millennium & Copthorne – Maldives resort development project
  • Constance Hotels – US$ 35 million re-development of Halaveli Resort
  • American investor – sale of the Sublease of White Sands Resort & Spa to Naïade Resorts (publicly listed company from Mauritius)
  • Parmatour Liquidators, Italy – sale of Sublease of Gangehi Resort and Head Lease of Kuda Rah Resort to I Grandi Viaggi (publicly listed hotel company from Italy)

2005

  • International Finance Corporation and OPEC Fund – US$ 20 million loan transaction to Wataniya Group for mobile telephone telecommunication expansion in the Maldives
  • International Finance Corporation – US$ 30 million loan to Universal Group in respect of re-development of Huvafenfushi Resort and other resorts
  • Mauritius Commercial Bank Ltd – US$ 35 million loan concerning Halaveli Resort re-development with Constance Hotels
  • Bank of Ceylon Ltd – US$ 14 million loan for John Keells Group’s development of new resort on Alidhoo Resort
  • Wataniya International FZ-LLC – US$ 16 million investment in telecommunications sector
  • Owner – US$ 50 million loan from Nedbank Ltd (London) concerning One&Only Reethi Rah Resort
  • Kerzner Group – US$ 130 million financing of One&Only Reethi Rah Resort

2004

  • Hongkong and Shanghai Banking Corporation – US$ 30 million loan for hotel development on Fesdu Island to be operated by Starwood Hotels and Resorts / Sheraton Group under the “W” brand
  • Mauritius Commercial Bank Ltd – multi-million dollar loan concerning Sonevafushi Resort
  • Mauritius Commercial Bank Ltd – multi-million dollar loan concerning Mirihi Resort
  • Shangri-La Hotels (from Hong Kong) – contract to develop, manage and operate a new US$ 100 million resort on Villingili Island
  •  Coconut Spa – establishing operations in the Maldives
  • Bank of Maldives Plc – new Amended and Restated Memorandum and Articles of Association for the bank
  • Commercial Bank of Ceylon – banking license application

2003

  • Per Aquum Resorts & Spas – US$ 25 million development of Huvafen Fushi Resort and Spa
  •  Taj Group – US$ 17 million loan from International Finance Corporation concerning Taj Coral Reef Resort and Taj Exotica Resort
  • Mauritius Commercial Bank Ltd – multi-million dollar loan concerning Meerufenfushi Resort
  • Unibank A/S (Denmark) Export and Project Finance Division – multi-million euro loan to the Maldives Government for STELCO and Intertec power plant project

2002

  • Owner, Kerzner Group (formerly Sun International) and Bank of Maldives – US$ 169 million 6-lender (including US$ 5 million loan from Bank of Maldives and US$ 15 million financing loan from Import-Export Bank of Malaysia) syndicated loan for re-development of Reethi Rah Resort
  • Owner – US$ 5 million loan from Habib Bank and Bank of Maldives concerning One&Only Reethi Rah Resort
  • Export-Import Bank of Thailand – US$ 15 million loan for development of Villingili Island resort to be operated by the Shangri La Group
  • Standard Chartered Bank (from UK) – financing of resort development projects, including resorts of Taj Hotels, Resorts & Palaces Group
  • Siam City Bank (from Thailand) – financing of resort development projects of Six Senses Hotels and Resorts Group
  • Maldives Finance and Leasing Company – multi-million dollar start-up loan from International Finance Corporation
  • Ritz-Carlton Hotels/ Marriott International Inc. – US$ 25 million loan for hotel development and management project on Hudhufushi Island Resort
  • Bank of Ceylon Ltd – retained as bank’s legal counsel
  • Triarc International (USA) and Baker & McKenzie (Australia) – US$ 35 million acquisition concerning Ari Beach Resort, now White Sands Resort & Spa

2001

  • Deutsche Bank and Orrick, Herrington & Sutcliffe LLP (Singapore) – US$ 48 million resort management group transaction involving Six Senses Group (owners and operators of Sonevafushi Resort and Soneva Gili Resort)
  • Commercial Bank of Ceylon – multi-million dollar loan for Veligandu Resort
  • Commercial Bank of Ceylon – multi-million dollar loan for for Kurumathi Resort
  • Citigroup Asset Management (Singapore)/ Salomon Smith Barney – banking/investment services legal and regulatory issues in the Maldives
  • Hong Kong and Shanghai Banking Corporation – establishment of branch in the Maldives

2000

  • Lehman Brothers and Hunton & Williams (USA) -US$ 30 million re-financing for Kanu Hura Resort & Spa
  • Akerman Senterfitt & Eidson (Miami) and Latham & Watkins (Chicago) – Steiner Leisure Limited’s acquisition of various Mandara Spa Asia entities
  • Mandara Spa – Maldives operations matters
  • Bank of Maldives Plc – US$ 50 million+ loans for Maldives hotel resort development projects
  • International Finance Corporation, National Development Bank of Sri Lanka and several leading local companies – formation of first finance leasing Company in the Maldives

1999

  • Michael Friedel (international photographer) – intellectual property issues in the Maldives and the global sporting company
  • Adidas – intellectual property issues in the Maldives

Government-Related Work

Government-Related Work

Shah, Hussain & Co regularly advises the Maldives Government, Ministries and Institutions.

2010 to date

Judicial Service Commission – member of Investigation Committee

2010

Secretary General of the Parliament (People’s Majlis) – English translations of regulations and codes of ethics

2009-2010

Maldives Monetary Authority – English translations of statutes and regulations

2008-2009

Ministry of Fisheries and Agriculture – retained legal counsel

2008-2009

National Centre for Information Technology – retained legal counsel

2006-2008

Special Majlis (the Constitutional Assembly) – drafting of Maldives Constitution of the Republic of Maldives from 2006 to 2008

2002-2008

Ministry of Transport and Civil Aviation – retained legal counsel

2002

State Electricity Company Ltd (STELCO) – retained legal counsel for electricity plan expansion project

2002

Capital Markets Department Section – English translation of Securities Act 2002 and Companies Act Amendment 2002

2002

Hulhumalé Development Unit – US$ 30,000,000 Hulhumalé housing project contracts

2001

Former Maldives President and Maldives Transport & Contracting Company Plc – US$ 18,000,000 loan land involving Fortis Bank for reclamation/dredging and housing development project

2001

Maldives Transport and Contracting Co Plc – retained legal counsel

2000 to date

Island Aviation Services – retained legal counsel to Government-owned domestic airline company

2000

Former Maldives President – re-establishment of Air Maldives as an international airline

2000

Capital Markets Development Unit of the Maldives Monetary Authority/ Ministry of Finance and Treasury – lecturers to trainee stockbrokers on Regulatory, Legal & Compliance issues

1999

Law Commission – legislative revision, consolidation and modernisation

1999

Ministry of Home Affairs, Housing and Environment and United Nations Development Programme on conservation trust fund project – English translation of environmental laws and regulations, including the Environmental Protection and Preservation Act 1993

1999

Ministry of Communications, Science & Technology – retained legal counsel concerning telecommunications issues and regulation

1999

Asian Development Bank – retained as domestic legal consultant on reform of telecommunications sector in the Maldives and drafting of legislation for privatisation

1999

Secretary General of the Parliament (People’s Majlis) – update Maldives Statute Book and English translations of statutes, including the Maldives Tourism Act 1999 for submission to Attorney General’s Office

1999

Secretary General of the Parliament (People’s Majlis) – retained as domestic legal consultant on a Customs Capacity Building Project to reform Customs legislation, funded by Asian Development Bank and headed by the Australian-based international consultants from Stanton and Partners

1999

Secretary General of the Parliament (People’s Majlis) – joint legal counsel with Blake Dawson Waldron, Australia to formulate draft legal framework for telecommunications legislation in the Maldives

1999

Law Commission – legislative revision, consolidation and modernisation

1999

Narcotics Control Board – retained legal counsel on property law issues

1999

Ministry of Youth and Sports Maldives, Swimming and Water Sports Association – new Constitution drafting

Pro bono work

Pro bono work

200?-2014

The World Bank Group – contribution to the Doing Business project and annual Doing Business report.

2014

Alliance for Financial Inclusion – contribution to legal and regulatory framework database to promote the financial inclusion in developing countries and emerging markets

2013-2014

Linklaters LLP, London – Competition/Antitrust group – contribution to multi-jurisdictional merger control database

2006-2014

Global Property Guide – Guide on Landlord and Tenant Law in Maldives (residential real estate): Maldives’ Landlord and Tenant Page