FJ & G De Saram, Sri Lanka's oldest law firm with a 183-year legacy, maintains its preeminent position through consistently evolving service standards and addressing changing market needs. The firm's extensive experience spans banking and finance, corporate and M&A, and dispute resolution, with its corporate law department being the largest and most successful division. As one of Sri Lanka's largest full-service firms, it has four main divisions: corporate law, real property, dispute resolution and intellectual property, each led by senior partners with over 25 years of experience. The corporate practice provides comprehensive advisory services across mergers and acquisitions, capital markets, investment, taxation, construction, telecommunications and infrastructure sectors. The dispute resolution team, established in 1995, was the first in Sri Lanka to provide in-house advocacy services. Key partners include Himali Mudadeniya, Manjula Ellepola and Tilani Ford.
Work highlights
Advising Citibank as dealer manager in Sri Lanka's groundbreaking International Sovereign Bond exchange, the first such transaction following the country's economic crisis and sovereign default. The December 2024 exchange marked a significant milestone in Sri Lanka's debt restructuring. The transaction established a new framework for exchanging defaulted bonds with newly issued instruments, requiring complex regulatory navigation and extensive due diligence.
Advising Dialog Axiata on its strategic acquisition of Bharti Airtel Lanka through a share swap, followed by the companies' amalgamation in August 2024. The transaction involved Bharti Airtel of India receiving a 10.355% stake in Dialog, valued at approximately $35 million. The complex deal required multiple regulatory approvals including from the Colombo Stock Exchange and Telecommunications Regulatory Commission, strengthening Dialog's market position in Sri Lanka's telecommunications sector.
Advising Air India in a significant dispute with its former general sales agent, successfully vacating interim orders that had prevented the airline from engaging a new agent in Sri Lanka. The matter progressed through multiple court levels including the District Court, Court of Appeal and Supreme Court. The successful outcome enabled Air India to proceed with its new contractual arrangements, maintaining operational continuity in the Sri Lankan market.
Key clients
Airports of the Regions, International Finance Corporation, Melco International Development
