Steven Brown is a Partner at ASAR, Bahrain, and has been with the firm since June 2010. Steven primarily practices in the areas of mergers and acquisitions, banking and finance (secured finance focus), corporate law, regulatory law and employment law. Steven graduated cum laude at Marquette University (United States) with a B.S. in Economics in 2002 and completed his Juris Doctorate in 2007 from Washington University in St. Louis (United States). He was admitted to practice law in New York since 2010. Steven’s practice language is English.
2015 / 2016 Highlights
Banking and Finance
- Acted as Bahrain law counsel to Deutsche Bank and Bank Audi, on a USD 400 million loan facility in 2011 for the restructuring of Medgulf Insurance Group including assisting with various local security instruments and share transfers associated with the restructuring. Assistance extended to restructuring and securing refinancing transactions in 2012, 2013, and 2016.
- Advised Standard Chartered Bank and Mashreqbank on various conventional and Islamic facilities totalling over USD 200 million provided to Hasan Mohamed Jawad group in relation to leveraged expansion in the GCC region. Assistance included providing advice on financing documents, drafting of security instruments covering a range of asset classes, releasing existing security and perfecting new security, assisting with share transfers, and assisting with corporate and personal guarantees.
- Acted as Bahrain law counsel to certain sukukholders in relation to a default by the guarantor on a Bahrain issued USD 650 million Sukuk including advice on statutory dissolution of the Sukuk issuer and available recourse against parties and professional advisors involved.
- Advised Aerolease Aviation on leasing a number of aircrafts to DHL in Bahrain including assistance in financing and in registration of wet leases with the Bahrain aviation authorities; in conjunction with other aircraft transaction. The total aircraft financing work undertaken exceeds USD 400 million.
- Advised numerous global financial institutions including, amongst others, Credit Suisse, Commerzbank, Goldman Sachs, ING, J.P. Morgan Chase, Nomura, SNBC, and Standard Chartered Bank on derivatives transactions under Bahrain’s netting and collateral laws and regulations including issuance of netting and collateral opinions.
- Advised numerous local and global financial institutions on financing transactions in or involving Bahrain (totalling in excess of USD 10 billion) and on financial regulatory compliance under Central Bank of Bahrain rules.
Mergers & Acquisitions
- Acted as lead counsel to Alghanim Industries in connection with the purchase of a 98% stake in a regional oil services company including leading negotiations, assisting with pro-acquisition requirements and coordinating on various warranty claims.
- Acted as lead counsel to Air Liquide in the acquisition of a majority stake in a Middle East Carbon Dioxide, a Bahrain carbon dioxide recovery plant.
- Acted as Bahrain legal counsel in connection with the purchase of stakes in various banks, including closely held and publicly traded institutions. Assistance involved due diligence exercises, advice on regulatory and capital markets requirements, drafting Bahrain transfer documents, and reviewing and advising on the transaction from a Bahrain law standpoint.