Banking and Finance


Nodia, Urumashvili &Partners has been recognized as one of the leading law firms in Georgia in banking and finance law by the major international legal directories.


WHAT WE DO:

Regulatory. Advising banks and other financial services providers on regulatory matters.

Licensing. Assisting financial institutions in the authorization, registration and licensing process.

Loans. Advising borrowers and lenders on loan transactions, including among others, advising international financial institutions on their lending to local micro-finance organizations and banks.

Guarantees and Collateral Agreements. Advising on drafting, negotiating and execution of the collateral and guarantee agreements, including among others, surety and bank guarantees, mortgage, and pledge agreements.

Capital Markets.  Advising on the issuance of various types of securities, assisting in preparation of the prospectus and legal documentation and acting as a bondholders’ representative.

Project Finance. Assisting at all stages of project finance, participating in negotiations and reviewing, preparing and advising on project documentation.

Reorganization. Assisting financial institutions in the reorganization of the business, including the transformation of the branch to an independently licensed entity, reorganization of the micro-finance organization to the bank, reorganization of the bank to the ordinary non-bank entity, etc.

Disputes.  Representing clients on banking and finance disputes at all instances of Georgian courts, arbitration and mediation proceedings.


EXPERIENCE AND HIGHLIGHTS:

Regulatory: We have extensive experience of advising financial institutions on regulatory matters and representing clients’ interests before the regulatory authorities. We review legislative drafts and actively engage in relevant working groups and public discussions as an industry representative.

Licensing and Reorganization: We have a distinctive experience of advising on licensing and reorganization of financial institutions. We are the only Georgian law firm to have advised on the precedent-setting transformation of a branch to an independently licensed bank. In particular, we have advised and assisted three foreign banks in connection with obtaining a banking license and transferring all assets and liabilities of the branch to the newly established entity. Highlights also include advising on the first ever transformation of the bank to the non-banking entity and advising on the transformation from a micro-finance organization to the bank. We have also assisted the clients in registering as payment services providers and microfinance organizations.

Investment Funds, Asset Managers, and Investment Firms: We regularly advise local and foreign funds and investment firms in connection with the legal framework relating to investment activities in Georgia.  Highlights include assisting a Swiss-based investment fund manager on the establishment of its branch in Georgia and providing continues legal support in relation to its activities in Georgia.

Capital Markets: We advise on the initial public offering of securities. We also serve as a bondholders’ representative in major bond issuances. Recent highlights include advising in connection with the underwriting of corporate bonds and its listing on the Georgian Stock Exchange.

Loans: We advise IFIs and investment funds on local law matters in connection with the preparation, execution, and delivery of the Loan Agreements, including LMA forms, with major Georgian micro-finance organizations, leasing companies, and banks. We also advise clients on the negotiation and execution of credit facilities and general credit line agreements.

Projects: Recent highlights include advising a hydropower development company in connection with a multimillion financing of the construction of the hydropower stations in the western part of Georgia. The project was financed through the support of an IFI and a local bank. Highlights also include advising on the financing of a residential and multi-functional building projects in Tbilisi. We also advised the client in connection with a multimillion loan facility for its mega data center project in Tbilisi.

Guarantees and Collateral: We are experienced in assisting in, and advising on, drafting, negotiating and execution of the bank guarantees and complex collateral agreements, as well as representing clients in disputes, among others, relating to calling the bank guarantees. Highlights include advising US investor in connection with drafting, negotiating and execution of the bank guarantee for the fulfillment of the obligations under the agreement on a sale of a land plot in Tbilisi.
 
RECOGNITIONS:

“Nodia, Urumashvili & Partners is a popular choice for Georgian banks and has notable expertise in licensing issues”.  – Legal 500, 2018

“Nodia Urumashvili & Partners has acted on a range of financial and corporate work during the research period, working on deals in cryptocurrency, mining and pharmaceuticals.

In finance, the firm notably assisted Silkroad Bank on the underwriting of corporate bonds and its listing on the Georgian Stock Exchange. Capital markets is still a developing area in the jurisdiction, and the firm’s work helps set it in a good position to secure mandates as the area grows”. – IFLR 1000, 2018

“A deal highlight during the research period saw the firm advise Turkiye Is Bankasi as it set up banking operations in Georgia including the gaining of a license.” – IFLR 2017

“Standout deals include advising Ziraat Bank on its restructuring.” – IFLR 1000, 2018

“The managing partner Lasha Nodia is recognized as one of the best lawyers in Georgia in banking law.” - IFLR 1000, 2017

Regularly instructed by commercial banks and insurance companies on regulatory issues and transactions, among them Liberty Bank, Bank of Georgia and Unison Insurance Company”, Legal 500, 2016

Highly regarded for its banking and finance practice”, Legal 500, 2015