Michael Rainy
King & Spalding
King & Spalding
Client SatisfactionKing & Spalding’s banking and financing team has been praised for its ‘innovative capabilities’ in financing restructuring and cross-border transactions, particularly in the manufacturing, construction and energy sectors. The team showcases extensive expertise in both conventional and Shari’ah-compliant financing transactions, earning major Saudi and international banks as clients, as well as key players in the private credit market.. The practice is headed by Zaid Al-Farisi, whose extensive experience and ’cultural fluency’ make him a go-to adviser for lenders, borrowers, sponsors, debtors and creditors. Dubai-based Michael Rainy is another key asset, bringing nearly 20 years of experience covering conventional and Shari’ah-complaint equity, loan and bond financings to deliver transactions successfully.
Legal 500 Editorial commentary
Testimonials
Collated independently by Legal 500 research team.
‘Highly competent in KSA Bankruptcy Law with many successful records. Possesses innovative capabilities in developing alternative solutions for concluding debt-restructuring transactions. Excellent in responsiveness, maintaining consistent high quality work. Possesses in-depth knowledge of legal matter related to commercial and banking disputes. Very cost effective. Demonstrated an interest in our company and an understanding of our needs and objectives. Finally, delivered exceptional results which make them our first choice in future for such complicated commercial/banking disputes. ’
‘I worked with lawyers Michael Rainey and Zaid Hadir Al-Farisi, who supported us in defining innovative strategy, drafting and negotiating the terms for concluding the debt settlement agreements with four commercial banks. They were very supportive to us in concluding agreements that effectively protected our interests and delivered extremely valuable results.'
‘King & Spalding in Riyadh distinguishes itself through a combination of deep legal expertise and a client-centric approach. They have a strong emphasis on understanding clients’ unique needs. Also, their ability to provide tailored solutions sets them apart from other firms.
- 'The team is composed of highly skilled lawyers with specialized knowledge across a broad range of legal sectors, including Banking & Finance.'
- 'King & Spalding in Riyadh combines deep legal expertise with a client-centric approach, emphasizing understanding clients’ unique needs. Their ability to provide tailored solutions sets them apart from other firms. The team consists of highly skilled lawyers with specialized knowledge in various legal sectors, including Banking & Finance.'
‘The team members at King & Spalding Riyadh’s office are distinguished by their depth of expertise, problem-solving abilities, and unwavering dedication to their clients' success. They are not only skilled in their respective fields but also possess a keen sense of business acumen, enabling them to offer pragmatic and strategic legal advice. They ensure that clients receive undivided attention and tailor their strategies to the specific needs of each case.'
'The team is always available, ensuring that any urgent legal matter is addressed promptly. This level of commitment and availability is a quality that I have greatly valued.'
- 'Zaid Al-Farsi: is an outstanding lawyer specializing in Banking, Finance, and Restructuring. With a deep understanding of both local and international markets, Zaid consistently delivers exceptional legal strategies that not only align with but also enhance business goals. Fluent in both Arabic and English, he has the ability to navigate complex financial transactions with precision, making him an invaluable asset to his clients. His legal acumen is matched by his cultural fluency, which allows him to effectively bridge the gap between diverse client needs and legal requirements. You can always tell when Zaid is involved in a project—his commitment to excellence and thoroughness shines through, ensuring successful outcomes for clients across the board.'
Key clients
- Jeddah Economic Company
- Arab National Bank
- Saudi Awwal Bank
- Banque Saudi Fransi
- Azmeel Contracting Company
- Arkad Engineering and Construction Company
- JPMorgan
- Vision International Investment Company
- Riyad Capital
Work highlights
- Acted as restructuring counsel for Azmeel Contracting Company, one of Saudi Arabia’s top five construction firms, and facilitated a Financial Restructuring Procedure under Saudi Bankruptcy Law, culminating in a 2022 creditor-approved plan to convert over USD 2 billion in claims into Shari’ah-compliant financing instruments.
- Assisting Arkad with its Financial Reorganisation Procedure, including restructuring debt into Shari’ah-compliant instruments.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Zaid Al-Farisi
King & SpaldingPractice head
The lawyer(s) leading their teams.
Zaid Al-Farisi