Law firm highlights – Feb 2020

• Dentons celebrated its 50^thanniversary in Dubai and Abu Dhabi in style by becoming the first law firm to project onto the world’s tallest building, the Burj Khalifa. Hosting over 200 guests at an awe-inspiring event by the iconic building, the three-minute video served as a tribute to the Firm’s clients and colleagues, past and present, who have helped build Dentons in the United Arab Emirates from its humble beginnings of a few lawyers to a team of over 100 fee-earners and staff. As the first international law firm to establish a presence in the UAE, Dentons has built an impressive legacy of firsts over the past five decades from helping to draft the treaty which created the Emirates in 1971, to advising on the construction its first international hotel and first skyscraper, the establishment of Emirates as its first airline, and the issuance of its first IPO.  Elliott Portnoy, global chief executive officer of Dentons, commented, “It is a privilege to celebrate our milestone 50^th anniversary of serving our clients in the United Arab Emirates and across the Middle East. We have proudly built a very different law firm with the deepest regional presence to connect our clients to not only the best lawyers, but those deeply rooted in their communities.” Middle East managing partner, Paul Jarvis, added, “We are grateful to our clients for being part of our incredible journey over the past five decades and we look forward to a very bright future for both Dentons and the UAE. I am convinced that, as we have always done, we will continue to prosper in the years ahead.”
• DWF announced that it has reached a definitive agreement to acquire Mindcrest, a leading legal and managed services business for USD18.5m in cash and shares, with the transaction expected to complete in the next 4-6 weeks, subject to the satisfaction of certain pre-conditions (the “Acquisition”). Initial consideration consisting of USD2.4m in cash and USD8.5m (£6.5m) in shares will be paid at completion (the “Initial Consideration”), with additional cash consideration of USD7.6m deferred and phased over a period of six months (the “Deferred Consideration”). Mindcrest specialises in services including litigation support, contracts, compliance and legal analytics for large international corporate clients. Headquartered in Chicago, Mindcrest employs over 360 people, the majority of whom are located in Pune, India, where it has successfully operated for over 15 years, along with a small presence in New York and London. The Acquisition is consistent with DWF’s objective of developing its Managed Services business across a global platform, and will play an important part in accelerating the growth of the platform while providing access to Mindcrest’s high quality people and in house training capability. By expanding the Managed Services offering, the Acquisition will allow DWF to better support its clients and win business in complementary areas where it has not previously had capability, including document review and legal process outsourcing.
• Trowers & Hamlins partner Ayda Habboush has been appointed to the board of the Arab Bankers Association (ABA). The ABA is an association of bankers and finance professionals who work in the Middle East markets. Members include Middle Eastern banks, corporates, investors, asset managers, family offices and high net worth individuals. Habboush has been a member of the ABA for approximately seven years and was asked to join the board by the organisation’s CEO, George Kanaan. Trowers has been a corporate member of the ABA for three years. Habboush has over 10 years’ experience as a corporate solicitor and specialises in advising clients from the MENA and ASEAN regions on inward investment commercial real estate transactions, including acquisitions of offices, hotels, serviced apartments and student accommodation. Habboush is also a member of Trowers & Hamlins’ Islamic Finance group, and has a particular focus on the corporate structuring of Shariah compliant transactions. Her new role will involve attending board meetings and taking an active interest in the organisation’s affairs, which include regular seminars and events, including the annual Real Estate seminar, which the firm has participated in and sponsored for the past four years. Board members, who have to be representatives of corporate members, provide the ABA with extensive support including the recruitment of members and contributing so as to enrich the Association and deepen the ties between its members. Habboush commented, “I am honoured to have been appointed to ABA’s board. This is a great opportunity to become further involved with the organisation’s activities, and I look forward to seeing what the future will bring.”