Pakistan

KABRAJI & TALIBUDDIN is a full-service law firm, actively involved in Aircraft Finance, Aviation Law, Banking and Finance, Corporate and Commercial, Domestic and International Arbitration, Inward foreign Direct Investment, Litigation, Mergers and Acquisitions, Projects and Project Finance, Real Estate Development and Telecommunications.

The firm is recognised as a pioneer in the field of aviation finance and leasing, possessing extensive experience in advising leading stakeholders in the aviation industry on aircraft purchases and securitization amongst other matters. We guide our clients through various regulatory requirements by liaising with the Pakistan Civil Aviation Authority to ensure the smooth operation and completion of transactions, including the completion and filing of key security documents.

The firm’s senior partner, Kairas N. Kabraji was the main author of the Implementation Rules of 2004 which incorporated the Cape Town Convention into the domestic law of Pakistan. Further, the firm actively participates in discussions with the Aviation Working Group for the development of policies, laws and regulations that facilitate advanced international aviation financing and leasing. We have well established reputation in all aspects of Aircraft Finance and Aviation Law including advising on aircraft sale and purchase (including aircraft objects), aircraft and engine financing, aircraft registration and de-registration, liens and security documentation, repossession of aircrafts, aviation regulatory matters, aviation insurance and re-insurance issues, aviation accident claims, cargo claims and litigation matters relating thereto.

Mr Kabraji has been involved in virtually all major aircraft financing transactions (including leases and sub-leases) in Pakistan since 1976. The firm’s current aviation practice is actively led by Syed Ali Bin Maaz as a partner who also has extensive experience in all areas of international aviation financing and leasing.

The firm has acted in international arbitration as well as domestic litigation disputes arising out of, inter alia, airport construction contracts and are actively engaged in claims arising out of aviation accidents, passenger and cargo claims including litigation in which we represent airlines and insurers in respect of the aforesaid.

 NOTABLE AVIATION EXPERIENCE

•  Acting for and advising a consortium of international banks in relation to the financing of the new terminal at Lahore international airport including a multi-currency financing supported by export credit agencies and a local currency facility;

•  Acting for Lloyds underwriters, handling legal liability claims arising from three major international aviation accidents affecting Pakistan including multi-jurisdictional litigation; 

• Acting for Citigroup in relation to the financing of pre-delivery payments for three new Boeing 777-200 Aircraft, for Pakistan International Airlines Corporation including a short term facility and an Islamic financing (Ijar’a);

• Acting for Export-Import Bank of the United States in relation to the long term financing of eight new Boeing 777-200 Aircraft for Pakistan International Airlines Corporation;

• Acting for Boeing and Export-Import Bank of the United States in connection with the preparation of the domestic legislation in Pakistan implementing the Cape Town Convention and Aircraft Protocol including the implementing rules, the accession instrument and the declarations required by the Convention; 

• Acting for and advising a US client in connection with the Instalment Sale and on-lease of three Boeing-737 Aircraft to a Pakistani operator; 

• Acting for United States Ex-Im Bank and ICICE/Citibank in relation to a US$150 million facility to fund an engine refurbishment contract entered into with General Electric by Pakistan International Airlines Corporation; 

• Acting for Airbus in connection with the sale and financing of an Airbus A-321 aircraft to Air Blue;

• Conducting cases on behalf of airline clients and their insurers, including Thai Airways International and Etihad Airways, in relation to carriage by air of passengers and cargo;

• Worked on a transaction involving sale of six A320 aircrafts from BAC to IAM and their onward lease to PIA;

• Working for European Airbus ECAs (led by Euler Hermes) and Crédit Agricole Corporate and Investment Bank and Deutsche Pfandbriefbank AG, Paris Branch (as ECA lenders) and OJSC VEB-Leasing on a matter in relation to the sub-lease of four airbus A321 aircrafts to Airblue Limited, a private Pakistani airline operator;

• Worked on a transaction involving the structuring of Islamic finance through sale and distribution of airline ticket vouchers in accordance with the terms of the transaction documents for the benefit of PIA for refurbishment of aircraft engines for Abu Dhabi Islamic Bank PJSC (ICIEC Guaranteed) Financing;

• Worked on a matter related to a jurisdiction questionnaire for aviation industry in Pakistan and advising on a lease agreement with PIA and rendering a legal opinion to the clients, Nordic Aviation Capital Pte Ltd;

• Annually updating the Pillsbury World Aircraft Repossession Index for Pakistan organised by Pillsbury Winthrop Shaw Pittman LLP; and

• Regularly discussing developments in the aviation industry with the Aviation Working Group.