Ibrahim Sattout is a Partner at ASAR and has been with the firm since October 2005. Ibrahim practices in the areas of banking and finance, capital markets, project finance, restructuring, mergers and acquisitions, commercial and corporate law and international arbitration. Ibrahim was admitted to the Beirut Bar in 1994 and is a member of the Beirut Bar Association, the International Bar Association, the American Bar Association and the LCIA. He holds an LL.B in Lebanese Law from St. Joseph University, Beirut, Lebanon and a LL.B in French Law and DEA (LL.M) in Private International Law and International Trade Law from Paris II University, France. Ibrahim’s practice languages are English, French and Arabic.
2015 / 2016 Highlights
Banking and Finance
- Acted as Kuwait law counsel to (i) the mandated lead arrangers (i.e., National Bank of Kuwait S.A.K.P. and Kuwait Finance House K.S.C.P.) and (ii) international financial institutions and export credit agencies, in relation to KD 3.1 billion financing of Kuwait National Petroleum Company K.S.C. (KNPC) clean fuel project.
- Advised on a USD 18.5 million murabaha facility from Arab Banking Corporation B.S.C to a Kuwaiti financial investment company.
- Acted as Kuwait legal counsel to NBK Capital and KAMCO Investment Company (as Joint Lead Managers) with the issuance by National Bank of Kuwait of KWD 125 million Tier 2 Basel III compliant Bonds. This is the first Tier 2 bond issuance in Kuwait by a local bank in compliance which was fully compliant with the Basel III regulatory regime as adopted by the Central Bank in Kuwait.
- Acted as Kuwait legal counsel to NBK Capital, KAMCO Investment Company and Gulf Bank (as Joint Lead Managers) in connection with the issuance by Burgan Bank of KWD 100 million Tier 2 Basel III compliant Bonds. This was the first bond issuance to have been successfully completed under the new Kuwait Capital Markets regime of 2015 and the new Kuwait Companies Law of 2016.
- Acted as Kuwait legal counsel to HSBC bank plc, standard chartered bank, Société Générale, Emirated NBD and National Bank of Abu Dhabi (all as Dealers) in relation to the establishment of a USD 1.5 billion Euro Medium Term Note Programme for Burgan Bank.
Commercial Litigation and Arbitration
- Represented a client in an ICC arbitration dispute for a claim of USD 20 million with its foreign partner with regard to the termination of a joint venture agreement.
Mergers and Acquisitions
- Acted as Kuwait counsel to a GCC Investor (the purchaser). The transaction involves acquisition by the investors of a majority stake in a group of clinics operating in Kuwait.
PPP / PFI
- Currently advising the Ministry of Electricity and Water and the Kuwait Authority for Partnership Projects (KAPP) as part of the consortium (BNP Paribas, Lahmeyer International GmbH and Chadbourne & Parke LLC and ASAR) comprising the Transaction Advisor on the process of the development of an independent water and power producer comprising combined cycle turbine or conventional thermal power with sea water based desalination plant under the Law 116 of 2014 (the PPP Law) and Law 39 of 2010 (as amended).
- Currently advising on the first integrated solar combined cycle plant in Kuwait which shall be developed pursuant to the IWPP Law (Law 39 of 2010 as amended), PPP Law (Law 116 of 2014).
- Currently advising the MEW and KAPP as part of the consortium (BNP Paribas, Lahmeyer International GmbH and Chadbourne & Parke LLC and ASAR) comprising the Transaction Advisor on the process of the development of an independent water and power producer comprising combined cycle turbine or conventional thermal power with sea water based desalination plant under Law 116 of 2014 (the PPP Law) and the IWPP Law (Law 39 of 2010 as amended).
Shipping & Maritime
- Acted as Kuwait law counsel to UASC in relation to the issuance by a U.S. based trust of USD 162 million of Enhanced Maritime Trust Certificates for the acquisition by two newly incorporated special purpose vehicles 100% economically owned by UASC of two ultra-large container vessels from UASC. The above transaction was described in Marine Money International magazine’s “Structured Finance and Innovation Deal of the Year,” as “the first shipping transaction of its kind to incorporate structured finance technology by ensuring favourable legal protection, timely creditor access to the vessel collateral and a liquidity facility similar to an Enhanced Equipment Trust Certificate.”
Restructuring and Insolvency
- Advised the lenders on the restructuring of an investment company’s debts amounting to approximately USD 55 million through a debt to asset swap.