Sri Lanka

The banking and finance team, managed by Savantha De Saram, at DL & F De Saram advises some of the largest local and international banks, including Axis, Bank of America Merrill Lynch, and HSBC. China Development Bank retained Prabash De Saram to advise on exchange control, tax laws and the Sri Lankan legal framework for loans worth $100 million to Sri Lanka’s public and private sectors.

FJ & G de Saram’s Himali Mudadeniya and Ayomi Aluwihare-Gunawardene lead its prominent banking and finance practice. With clients such as Bank of Tokyo Mitsubishi, China Development Bank and Goldman Sachs, the group handles syndicated loans and new financing solutions for a majority of the local and foreign banks in Sri Lanka. Aluwihare-Gunawardene and Manjula Ellepola worked with Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), a Dutch development financier, on its $160 million syndicated loan, one of the largest by a non-banking financial institution in 2015, to Commercial Leasing & Finance, a local financial services provider.

Instructed by the Asian Development Bank (ADB), Janaki Kumaraguru, the banking and finance practice head at Julius & Creasy, and Priya Sivagananathan were local counsel in loan facilities for LOLC Finance and LOLC Micro Credit worth nearly $70 million and $25 million, respectively. The firm consistently offers “professional delivery and [an] understanding of the jurisdiction”, says a lifestyle brand client.

Kandiah Neelakandan and Saravanan Neelakandan of Neelakandan & Neelakandan’s banking and finance group have been busy handling Malaysian CIMB Investment Bank’s formation in Sri Lanka. The practice, as local counsel with a UK law firm as foreign counsel, also advised a global bank on a large facility to a Sri Lankan telecommunications company.

Led by Naomal Goonewardena, the banking and finance team at Nithya Partners has a stellar reputation. The practice manages some of Sri Lanka’s most complex secured and unsecured loan financings, structured financings and derivatives transactions. International and local commercial banks continue to rely on Goonewardena, a specialist in debt syndication, foreign direct investment and financial elements of corporate restructuring.

FJ & G de Saram’s capital markets practice head Ayomi Aluwihare-Gunawardene and Buwaneka Basnayake advised Bogala Graphite Lanka, a Sri Lankan miner, processor and exporter, on its Lkr22 million ($151,000) rights offering to existing shareholders. A private equity client commends Aluwihare-Gunawardene’s “knowledge of the jurisdiction” and Basnayake’s “diligent” approach.

While Kandiah Neelakandan and Saravanan Neelakandan of Neelakandan & Neelakandan are advising a client on a large block trade, the capital markets team is handling regulatory matters on new share issuances and debentures for an impressive clientele, which includes Hotel Developers and Tokyo Cement, one of Sri Lanka’s largest cement manufacturer and suppliers.

The team at Nithya Partners has long counselled capital markets participants in traditional and innovative deals in Sri Lanka. Headed by Naomal Goonewardena, the group was legal counsel for the issuance of Pan Asia Banking’s Lkr750 million ($5.2 million) five-year asset-backed securities, one of Sri Lanka’s first green debt instruments.

DL & F De Saram’s construction and real estate practice is heavily involved in large infrastructure projects in Sri Lanka. Savantha De Saram, described by a peer as “commercial and always available”, and Aloka Nandasena are legal counsel to China Harbour Engineering on the Port of Colombo’s $1.5 billion Port City Development project.

Manjula Ellepola’s group of construction and real estate professionals at FJ & G de Saram act for lenders and property developers such as State Bank of India and Colombo City Centre. Anjali Fernando, Ellepola, Dinukshi Thalgahagoda, and Deepthi Fernando have been advising on the development and operation of condominium properties in Sri Lanka.

Managing proprietor John Wilson, who has “in-depth knowledge of [the] Sri Lanka business market”, according to a client, has been busy drafting and vetting construction contracts and handling procurement rules and tender procedures for clients. The construction and real estate practice at John Wilson Partners has also been advising one of Sri Lanka’s largest companies on a property transaction.

Servicing financiers, property developers, and construction companies, Kandiah Neelakandan leads a busy construction and real estate practice at Neelakandan & Neelakandan. The team is advising a foreign joint venture on the $60 million development of the five-star Sheraton Colombo Hotel, expected to be opened by June 2017.

Savantha De Saram’s corporate and M&A team at DL & F De Saram, described by a client as “competent, responsive, helpful and good to work with”, has a strong relationship with the Board of Investment and extensive experience with FDI laws and regulations. Jivan Goonetileke had been advising Siemens about a tender process and representing the German engineering company at a Procurement Appeal Board inquiry.

FJ & G de Saram’s corporate and commercial division, managed by Ayomi Aluwihare-Gunawardene, covers matters including M&A advice and transactions. The team is highly regarded for its innovative solutions, strategic advice and timely delivery of service. The group has recently advised the Bank of Tokyo Mitsubishi UFJ on forming a local branch and Solutions Group’s shareholders on the sale of their shares to Publicis Groupe, a French public relations and advertising company. Led by Shehara Varia, the M&A team assisted on the Solutions Group matter by handling the share purchase and shareholders agreements to sell nearly 60% and then almost another 20% in 2017.

John Wilson Partners handles non-contentious and contentious corporate and commercial matters. John Wilson, Ruwani Dantanarayana, and Shridharie Sathies assisted Bupa, a UK healthcare group, on its ability to sell global health insurance coverage through authorised brokers in Sri Lanka. Wilson has “great strategic and analytical thinking”, says a client.  He’s “personable and [has] excellent communication skills”.

Specialists in foreign direct investment (FDI), Amila Fernando and Anandhiy Gunawardhana lead the corporate and commercial practice at Julius & Creasy. A client praises Gunawardhana’s “knowledge and [her] always willing to assist”. The team acts in a variety of capacities including advising on FDI and assisting in transactions dealing with exchange control laws. Among the clients it advises are global telecommunications and social media companies. Instructed by AIA and AIA General Insurance Lanka, Gunawardhana, Geetani Athurupane, and Rukshani Weerasooriya, commended by a client for her “attention to detail [and] follow up”, acted on a complex segregation and divestment project worth about Lkr1.7 billion ($12 million) and Lkr3.2 billion ($22 million), respectively.

The corporate and M&A team at Neelakandan & Neelakandan is providing the legal advice for a number of projects in industries ranging from telecommunications to insurance. Kandiah Neelakandan is acting for Samsung C&T, a Korean construction company, on its potential entry into Sri Lanka. Neelakandan is also working on distribution agreements in Sri Lanka for a joint venture between a global oil and gas company and an international chemical company.

Arittha Wikramanayake, former director general of the Securities and Exchange Commission of Sri Lanka, heads the corporate and M&A practice at Nithya Partners. In corporate matters, the group counts large Sri Lankan companies on the Colombo Stock Exchange among its clients. The M&A team excels in legal due diligence for prominent deals.

Managed by Dijen Lea De Saram, the dispute resolution and litigation practice at DL & F De Saram is involved in a number of cases requiring knowledge of a variety of industries. Savantha De Saram and Jivan Goonetileke are representing Nestlé Lanka, listed on the Colombo Stock Exchange, in many contractual disputes with its distributors. Manjula Sirimanne is also defending the BBC in a defamation action in the District Court of Colombo.

Headed by Avindra Rodrigo, the dispute resolution and litigation practice at FJ & G de Saram specialises in commercial litigation, with expertise in a variety of relevant laws including admiralty, labour and intellectual property.  As one of the very few local dispute resolution teams with lawyers to instruct (similar to services by a solicitor) and counsel (similar to services offered by an advocate or barrister), it also handles arbitration cases, such as the pending Lkr17 billion ($117 million) claim by a foreign entity against the Ceylon Electricity Board. The group often initiates actions to wind up companies before the Commercial High Court of Colombo and has obtained orders from the court.

John Wilson Partners has an active dispute resolution group in Sri Lanka, with global brands as clients. The firm is “efficient, punctual and precise”, says an energy company client. John Wilson has been advising Fox International Channels Asia Pacific on a debt recovery matter concerning a global media advertising campaign.

Julius & Creasy’s dispute resolution and litigation team has a stellar reputation in corporate litigation, commercial arbitration and enforcement of foreign arbitral awards. JM Swaminathan, a distinguished litigator and lecturer, leads the practice, which advises clients in civil and criminal disputes, representing them in court and before forums such as the Labour Tribunal. The firm is “prompt and efficient in all assignments that have been given”, says a client. Anandhiy Gunawardhana and Shanaka Amarasinghe are representing Sika Lanka, a subsidiary of Swiss chemical company Sika, in an Lkr166 million ($1.1 million) case before the Sri Lanka Customs. It concerns the declared import value of certain goods.

Neelakandan & Neelakandan regularly advises large Sri Lankan and multinational corporations on dispute resolution. Kandiah Neelakandan obtained an arbitration award for Phil East Asia Construction, a Philippine company, against a hotel company. The award enforcement is before the High Court of Colombo. Saravanan Neelakandan advised Taisei, a Japanese construction company, in a contract dispute with the government before the Dispute Adjudication Board.

Chanaka de Silva manages the dispute resolution and litigation group at Nithya Partners, covering complex corporate, commercial and arbitration work. The practice specialises in financial, such as commercial banking, and infrastructure litigation. In addition to instructing services, the group consists of partners and counsel that can appear before arbitral tribunals and Sri Lankan courts.

Sudath Perera Associates, bolstered by its affiliates SPA Recoveries, specialist in debt recovery, and LegalBase, a Sri Lankan legal process outsourcing provider, has a formidable dispute resolution and litigation practice. The team, including Sudath Perera, one of Sri Lanka’s top litigators, Deshan Hewavithana, a specialist in IP litigation, and Gamini Balasuriya, a commercial litigator, handles a range of challenges from communications and media disputes to fraud and asset recovery.

Headed by Prabash De Saram, the energy and natural resources practice at DL & F De Saram facilitates energy and water projects under different partnership structures, including build-own-operate and build-own-transfer agreements. De Saram advised National Thermal Power (NTPC), an Indian state-owned company, on establishing Trincomalee Power, a joint venture between NTPC and the Ceylon Electricity Board.

In addition to advising on traditional hydro, wind and thermal power projects, and waste management and oil and gas matters, FJ & G de Saram’s energy and natural resources team, led by Ayomi Aluwihare-Gunawardene, has advised the International Finance Corporation on its purchase of carbon credits from four Sri Lankan power companies.

The infrastructure projects and project finance group at Julius & Creasy, praised by a client of more than a decade for its “technically competent” approach to the law, has extensive experience counselling clients in the energy and power industries, including renewable resources. Anandhiy Gunawardhana and Menaka Balendra have been conducting legal due diligence for a client looking to acquire companies involved in small hydro power plants.

Neelakandan & Neelakandan has a well-establish energy and natural resources group, which covers a range of large projects for domestic and foreign clients – both financiers and developers. The practice continues to advise AES after the AES Kelanitissa Power Station project was completed in 2003.

Suganthie Wijayasuriya-Kadirgamar, IP practice leader at FJ & G de Saram, has been chairperson of the Intellectual Property Advisory Commission of Sri Lanka since its establishment in 2014.  The practice handles a steady flow of trade mark, patent and industrial design cases for domestic and foreign companies.

Sameendra Perera leads the sterling intellectual property (IP) practice at John Wilson Partners, which is the 2016 leader of the Sri Lanka IP Association – Sri Lanka Group of the International Association for the Protection of Intellectual Property. The team, which is “capable of providing the accurate information we require”, according to a client, has recently seen more demand in complex IP protection issues in franchising, licensing and distribution agreements, and border protection measures, and rights recordations with Sri Lanka Customs. Harley Davidson has instructed John Wilson and Perera to organise and submit multiple applications for trade mark registrations.

The IP team at Julius & Creasy is managing an impressive range of contentious and non-contentious cases including 10,000 filings. Anomi Wanigasekera, the practice head, regularly works on trade mark applications with international law firms in Australia, Europe, Japan, and the US. More work has come from Sri Lankan firms taking their IP abroad, in addition to Patent Cooperation Treaty applications and copyright matters for Sri Lankan and overseas publishers. Wanigasekera has been representing a European consumer goods company in a trade mark dispute.

Practice head Pranavan Neelakandan of Neelakandan & Neelakandan continues to handle matters for global brands, such as the team’s management of Google’s Sri Lankan trade mark portfolio. Its other clients include Samsung and Panasonic. Neelakandan is also advising BMW on trade mark and copyright infringement, specifically protected images, in Sri Lanka.

In addition to her work in aviation, corporate, and shipping, Himani Perera leads the IP practice at Sudath Perera Associates. A specialist in anti-counterfeit and anti-piracy matters, Shanika Gunawardena joins Perera on the team to handle non-contentious IP issues. Deshan Hewavithana manages the contentious IP portfolio including brand protection, anti-counterfeiting and anti-piracy. The group is also involved in copyright and domain name matters, trade marks and patents.

In the IT, telecommunications and media group at FJ & G de Saram, Anjali Fernando and Manjula Ellepola advised a large Asian multinational telecommunications company on the criteria, concessions and exemptions set by the Board of Investment to form a telecommunications infrastructure joint venture. Shehara Varia, head of the M&A team, advised Dialog Axiata, a Sri Lankan telecommunications service provider, on its near-Rs248 million ($3.7 million) acquisition of Digital Commerce Lanka.

Anandhiy Gunawardhana leads the IT, telecommunications and media team at Julius & Creasy. Advice covers a range of corporate matters, such as establishing a subsidiary of a foreign telecommunications company, and commercial issues, for instance, handling cross-border M&A transactions. The practice also advises on spectrum licences and electronic contracting.

Prabash De Saram leads the busy projects and infrastructure practice at DL & F De Saram. Instructed by China Harbour Engineering, Savantha De Saram, Jivan Goonetileke, and Aloka Nandasena are advising on the Port of Colombo’s $1.5 billion Port City Development project. As well as drafting, negotiating, and executing the required agreements, the team is liaising with the Board of Investment and Sri Lanka Ports Authority.

The projects and infrastructure team at FJ & G de Saram has extensive experience in advising on infrastructure projects. As well as covering energy and natural resources, drawing on an expertise in oil and gas, the practice handles large projects in ports, telecommunications and transportation. It also has experience working on Sri Lanka’s social infrastructure, such as advising Silvermere Hospitals.

Neelakandan & Neelakandan’s projects group caters to domestic and foreign companies across infrastructure sectors. Saravanan Neelakandan has been representing Taisei, a Japanese construction company, and the China National Technical Import & Export Corporation on the $741 million Southern Transport Development project to build Sri Lanka’s southern expressway.

Led by Savantha De Saram, the shipping and maritime team at DL & F De Saram advises on freight contracts, ship and crew arrests, and maritime litigation and arbitration. Litigation partner Jivan Goonetileke is representing several clients in admiralty disputes including Dong Do Marine, a Vietnamese marine transportation company, Steamship Mutual, a British P&I (protection & indemnity) club and Caspineftgaz, an Emirati oil procurement service provider. A shipping client rates the practice as excellent across multiple categories, while a practitioner at another law firm says the firm is “competent, responsive and helpful”.

JM Swaminathan and SA Cader, both specialists in admiralty and maritime law, lead the shipping, maritime and aviation practice at Julius & Creasy. Covering dry and wet claims, the team regularly assists US, Chinese and Scandinavian P&I clubs. A client commends the firm for its “technical competence and responsive[ness] to client needs”. The firm’s banking and finance group also specialises in aircraft leasing and is one of the few local law firms to act as domestic counsel to foreign lessors and financiers for aircraft leases.

The shipping, maritime and aviation practice at Neelakandan & Neelakandan is growing fast, especially in shipping matters. The team regularly advises P&I insurance clubs, such as the North of England P&I Association. Kandiah Neelakandan and Pranavan Neelakandan advised a dry bulk shipping company on a potential arrest of bunkers owned by a Chinese shipping company.

In addition to cross-practice matters involving tax issues, Anjali Fernando of FJ & G de Saram handles a wide spectrum of complex tax cases. The team has advised on the legal and tax implications of berthing a ship in Sri Lanka’s territorial waters and the tax implications of the construction and modification of a solid waste processing facility.

A specialist in financial law, Naomal Goonewardena leads the reputable tax practice at Nithya Partners. The team covers indirect tax matters and has strong relationships with the tax authorities at the Customs Department, the Department of Inland Revenue and the Excise Department.