Kosta Legal

Azizbek Akhmadjonov is the Managing Partner and Head of Real Estate & Construction practice at Kosta Legal. He brings over 20 years of notable experience in navigating the complexities of commercial law focusing on construction, real estate, dispute resolution, corporate law, corporate restructurings and insolvency, financial lease, and secured lending matters. Being one of country’s well-known experts in Uzbek real estate and construction law, Azizbek offers unparalleled legal support to owners, developers and private equity investors. He guides clients through every phase of real estate transactions, from the legal due diligence to designing and negotiating contract and post-closing matters, ensuring that every legal nuance is addressed. Azizbek has extensive experience in land allocation and acquisition, obtaining licenses and permits, as well as construction and commissioning of properties. In addition to his real estate capabilities, Azizbek is a sought-after specialist in financial lease and secured lending. With extensive experience advising Uzbekistan’s leading financial lease companies and banks, he navigates the complexities of cross-border lending and financial lease operations, Islamic finance, and various security mechanisms, including those where real property is offered as collateral.

Maxim Dogonkin

Maxim Dogonkin is a Partner at Kosta Legal, leading the firm’s Corporate, M&A, and Competition practices. He is a recognized expert in competition law, regulatory compliance, corporate governance, and privatization, with a focus on sectors such as oil and gas, energy, infrastructure, and telecommunications. Maxim advises both international and local companies operating in Uzbekistan on a wide range of competition law matters. He provides expert guidance on issues such as abuse of dominance, anticompetitive agreements, pricing practices, and unfair competition. With a deep understanding of Uzbekistan’s competition regulations, Maxim helps clients mitigate risks and ensure compliance with local laws while addressing the challenges posed by an evolving regulatory landscape. His approach allows clients to remain competitive and compliant, minimizing the impact of potential antitrust concerns. In addition to his competition law expertise, Maxim advises on a wide range of corporate law matters and complex M&A transactions. He offers strategic counsel on structuring joint ventures, establishing special purpose vehicles, and corporate governance, ensuring that clients’ structures align with international best practices. Maxim is particularly skilled in managing cross-border M&A deals, guiding clients through regulatory approval processes, and securing merger clearance. His experience also extends to corporate restructurings and the acquisition of necessary licenses and permits, ensuring efficient transactions in highly regulated markets. Maxim also advises clients on regulatory matters in key industries, including power and energy, oil and gas, and telecommunications. He helps clients navigate complex industry-specific regulations, including compliance with licensing requirements and standards. Maxim’s expertise enables clients to effectively manage regulatory risks and engage with authorities, ensuring smooth operations in these heavily regulated sectors.

Nail Hassanov

Nail Hassanov is a Partner at Kosta Legal leading the firm’s PPP and infrastructure practice. He brings over 15 years of distinguished experience in navigating the complexities of public-private partnerships (PPP), infrastructure development and project finance in Uzbekistan. His portfolio includes pioneering deals that are “first of their kind” in the region, showcasing his ability to craft innovative approaches and structures. Nail excels in guiding infrastructure and PPP projects, providing legal advice to entities involved in both greenfield and brownfield initiatives. He adeptly navigates transactions to secure financing for the construction and development of production facilities, as well as hard and social infrastructure. His impressive client roster features developers, contractors, institutional investors, infrastructure funds, international financial institutions, sovereign wealth funds, and commercial and development banks. Nail skillfully negotiates with state agencies and state-owned enterprises, drafts tailored legal frameworks for investment projects, and structures investment and PPP agreements. He is an author of legal commentaries and a valued member of expert groups advising the Government of Uzbekistan on the development of new legislative initiatives.

Shukhrat Yunusov

Shukhrat Yunusov is a Partner and Head of Banking and Finance practice at Kosta Legal. He is dual-qualified as a Solicitor of the Senior Courts of England and Wales and as an Advocate in Uzbekistan. With over a decade of experience at a global law firm, Shukhrat has established a strong reputation for advising leading international financial institutions, multilateral development banks, and the Uzbek government on complex cross-border transactions. His expertise spans bilateral and syndicated lending, capital markets, derivatives, and structured finance. Shukhrat is also skilled in project finance, advising on large-scale infrastructure, energy, and industrial projects, leveraging his deep understanding of financial structures and regulatory frameworks. His strong track record and deep understanding of the legal and financial landscape have earned him recognition as a leading expert in his field. Shukhrat spent a year at the London office of a global law firm. He advised clients (Luxembourg, UK and Ireland) on debt capital markets and structured finance products.

Vazgen Grigoryan

Vazgen Grigoryan is a Partner at Kosta Legal leading the firm’s Dispute Resolution Practice. He is a highly regarded litigator in Uzbekistan. With over 25 years of experience, he specializes in complex cross-border commercial litigation, regulatory enforcement proceedings, multi-jurisdictional investigations, corporate restructurings and insolvency. Vazgen represents clients in corporate disputes, multi-million debt cases related to commercial contracts and pledge agreements, as well as disputes with state tax and antitrust authorities and state-owned enterprises. He also handles recognition and enforcement of international arbitration awards and bankruptcy matters. Clients value his ability to navigate legal challenges. As a practitioner of financial and corporate law, his expertise extends to corporate law, corporate finance, and corporate governance, where he assists with public take-overs and private acquisitions of shares and businesses, equity issues, including acting on issue and placement of shares, reorganizations, joint ventures, and general corporate work. Having gained substantial experience in the Uzbek banking industry, Vazgen is particularly adept in bank financing, focusing on syndicated and secured loans, structured trade finance, project finance, and acquisition finance. Clients appreciate his solution-oriented approach and extensive transactional experience.

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