SHC Lawyers

Firm Overview:

SHC Law & Tax has been a leading commercial law firm and market leader for over 20 years. SHC is widely regarded for unmatched transactional and cross-border expertise, and advising multinationals, international banks, financial institutions, private equity firms, international hotel owners and operators, airlines and telecom companies doing business in the Maldives.

Main Practice Areas:

Aviation:

SHC has unmatched experience in aviation work, assisting a diverse range of clients including aircraft owners, airlines, lessees, banks, investors, and governmental authorities. SHC has acted for Carlyle, Davidson Kempner, King Street, and other multinationals on the buy-out and restructuring of the world’s largest seaplane operator Trans Maldivian Airways (TMA). SHC also acted for Blackstone Group on the merger between TMA and MAT and acquisition by Baine Capital and Tempus Group.

Banking and Finance:

SHC maintains the largest market share of financing transactions and is the counsel of first choice for cross-border lenders extending debt finance for Maldives projects, especially hospitality and infrastructure development related. SHC’s clients include global banks such as HSBC, Deutsche Bank, Credit Suisse, Morgan Stanley, Chinese banks such as ICBC and China Development Bank, Indian banks such as Axis Bank, South-east Asian banks such as Malayan Banking Berhad and banks from Sri Lanka, including Bank of Ceylon, Nations Development Bank and Hatton National Bank. SHC recently acted for HSBC and syndicate lenders on USD 300,000,000 financing for a Pontiac Group lagoon development project, and Industrial Commercial Bank of China on the financing for construction of USD 370,000,000 Male’-Hulhumale’ bridge and link road.

Capital Markets:

Frequently recognised as the go-to counsel for capital market transactions, SHC has advised issuers, arranger and underwriters on cross-border debt securities offerings and equity securities offerings. SHC has recently advised arrangers on the establishment of a US$ 1,000,000,000 Reg S/144a sukuk program by the Government of Maldives, and its debut and tap issuances.

Corporate and Commercial:

For its corporate and commercial practice, SHC focuses on supporting the general business needs of their clients. SHC routinely assists a wide array of clients, including multinationals on foreign investments, mergers and acquisitions and joint-ventures. It remains the preferred team for public listed companies in the Maldives for their corporate governance and advisory matters.

Dispute Resolution:

The diversity of the SHC team assists clients in their dispute resolution, arbitration and litigation needs. SHC thinks ‘out-of-the-box’ and adopts a solution-oriented approach. SHC Lawyers boast a number of former state attorneys with significant experience in landmark cases. SHC has achieved excellent results for its clients in complex disputes, including at all levels of appeal courts.

Employment:

SHC’s clients attest to their strategic input, direction and extensive work on the full range of individual and collective labour conflicts in employment tribunal and courts of Maldives. The team also provide its clients with strategic advice on broad-level issues such as restructuring of organisations, risk management, austerity measures and redundancies, and day-to-day HR-related support.

Hospitality:

SHC is recognised by industry leaders as specialists and experts in the hospitality practice. SHC acts for a diverse array of stakeholders in the industry, including owners, operators, managers, developers and financiers. SHC’s lawyers sit on the boards of a number of hospitality companies for their expertise in the industry. SHC has extensive experience on sales and acquisitions of greenfield and operational hotel properties in the Maldives, including recently acting for a Russian conglomerate on the sale of LUX* Olhahali to Dubai Holding and Jumeirah, and acting for the Emerald Group (Italy) in its acquisition of Faarufushi Island from Universal Group.

Projects and Infrastructure:

SHC has a constant presence in all major and pioneering infrastructure projects in the Maldives, including the construction of the USD 370,000,000 China-Maldives Friendship Bridge, the proposed USD 530,000,000 Male’-Gulhifalhu Bridge project and various social housing development projects funded by Indian and Chinese banks. SHC lawyers are well-versed in the tendering and bidding processes, and project documentation and management.

Telecommunications:

SHC is a pioneer in the development of the telecom legal framework, drafting the first-ever telecommunications regulations in the Maldives. The lawyers also acted as counsel for the establishment of Wataniya Telecom Maldives (now Ooredoo Maldives PLC), and its subsequent USD 30,000,000 initial public offering in 2017. SHC Lawyers also assists global conglomerates such as Apple, Alibaba, Facebook, Samsung, Spotify and Tencent, in telecom regulatory and clearance matters.

Tax:

The team at SHC Tax draws from their experience in implementing tax system reforms during their time at the Maldives Inland Revenue Authority (MIRA), and possess the necessary expertise to provide innovative solutions in complex tax strategy and tax-related disputes.