Mongolia



asialaw Analysis

General business law
MDS & KhanLex

Entering the ‘Outstanding’ tier of asialaw’s general business law table, MDS & KhanLex is regularly involved in the mortgage-backed securities (MBS) market in Mongolia. Its work ranges from the early stages of designing policy, to incorporating proper special purpose vehicles, and the actual issuance of MBS. Bayartuul Chimed-Ochir joined the firm as partner in April 2020. 


Work highlights 

Acted for LendMN NBFI, a Mongolian fintech company, on its issuance of bonds on the Mongolian Stock Exchange (MSE). 

Acted for Invescore Activ on its issuance of asset backed securities on the MSE. Invescore Activ’s special-purpose vehicle is the first company that publicly offered asset backed securities on the MSE. 

Advised Ministry of Finance of Mongolia on the law amendments of the Debt Management Law of Mongolia. 

Key clients 

Ard Financial GroupFar East Asia Coal MiningMongolian Association of Securities Dealers (MASD)Mongolian Mortgage CorporationSuu 

Melville Erdenedalai

Melville Erdenedalai provides legal services related to banking and finance, corporate and M&A, and international arbitrationIts industry strengths are in the energy, mining and infrastructure sectors. The firm’s founders Chris Melville and Erdenedalai Odkhuu frequently lead its key deals and cases. The firm acquired the Mongolian business and assets of Hogan Lovells on 1 December 2017 after its decision to withdraw from the market. It has now entered into an association agreement with Hogan Lovells. 

Client feedback 

“Helpful and responsive. Speaks good English.” – Corporate and M&A 


Work highlights 

Acted as Mongolian law legal advisers to European Bank for Reconstruction and Development (EBRD) in connection with a long-term dollar-MNT swap facility with Bank of Mongolia. This is one of very few derivatives transactions entered into in the Mongolian market under the ISDA contractual framework. 

Advising Talon Petroleum, an ASX-listed oil and gas explorer on farm-in arrangements with Telmen Resource JSC in respect of a 33% interest in the proposed Gurvantes XXXV Production Sharing Agreement, located onshore in Mongolia. This transaction will represent a high-profile investment into the Mongolian methane gas sector and will be important for investor confidence in the country. 

Advised the Ministry of Finance of Mongolia on Mongolian law aspects of its exchange offer and new issuance of $600 million sovereign bonds, called Nomad’. 

Key clients 

Progress Rail Locomotives 

Nomin & Advocates

Full-service firm Nomin & Advocates specialises in corporate and commercial law, with particular focus on M&A, real estate and construction. The firm also has expertise in banking and finance, dispute resolution, energy and infrastructure. Founding partner Nominchimeg Odsuren’s practice includes regulatory, general corporate and commercial law. She has extensive experience advising both foreign and Mongolian entities in relation to financing transactions as well as large-scale infrastructure and energy projects. 

Client feedback 

Highly ProfessionalAlways responsive within 24 hours. Great knowledge of international arbitration and international procedural aspects.” – Dispute resolution 

Nominchimeg Odsuren 

“Great international arbitration know-how with high professional standards, integrity and straight to the point. 


Work highlights 

Acted for Wagner International (Denver, CO), Wagner Asia (UK), their Mongolian subsidiaries including Wagner Asia Spin and Wagner Asia Automotive on the sale of assetof Wagner Equipment in relation to its divestment from Mongolia. 

Advised a group of contractors on the development of the Myangad 10MW solar power projectThis is the first project that is being commissioned by the Ministry of Energy of Mongolia since the Renewable Energy Law of Mongolia was amended. 

Advising Mandal Insurance JSC on all aspects of its corporate governance and daily operational matters.