What the team is known for. AEQUITAS Law Firm has a notable domestic legal practice in Kazakhstan, assisting international clients with local law issues affecting cross-border mandates as well as representing domestic clients in local projects. The law firm is experienced in project financing, construction, corporate and financial restructurings and M&A projects. Aequitas Law Firm's domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan.

Strengths. "Aequitas excels in managing sophisticated transactions, demonstrating a keen understanding of financial markets and the ability to structure deals that meet clients' diverse objectives." "Aequitas has excellent knowledge of corporate law, competition law and other related branches of law and the ability to promptly offer options for legal solutions at the request of the client."

Notable practitioners. Yelena Manayenko (Band 4) heads the firm's M&A practice. She advises on both domestic and cross-border transactions and related due diligence work.

"Yelena exhibits exceptional expertise in legal due diligence within the corporate & finance markets, adeptly identifying potential risks and ensuring compliance with regulatory requirements."

"Yelena exhibits exceptional professionalism and expertise in their field, consistently delivering high-quality legal services."

What the team is known for. AEQUITAS Law Firm is a highly reputed domestic law firm in Kazakhstan, which represents clients in a broad range of commercial disputes, including contractual and debt recovery cases, as well as domestic enforcement work. The legal practice is also frequently engaged to provide Kazakh law expertise in international arbitrations seated overseas. The law firm regularly handles tax and construction disputes. Aequitas often acts for international and domestic clients from the professional services, construction and consumer goods sectors.

Strengths. "Prompt problem solving is one of their main strengths."

Work highlights. Aequitas acted for Quorumdebt Management Group in its dispute with NAC Kazatomprom regarding a services agreement.

Notable practitioners. Olga Chentsova (Eminent Practitioners) is the firm's managing partner, based in Almaty. She is well-regarded for her expertise in international arbitration and domestic litigation matters.

"Olga is a highly qualified specialist."

What the team is known for. AEQUITAS Law Firm is an established domestic legal practice in Kazakhstan, well versed in subsoil-related regulatory issues. The legal practice also advises international and domestic corporates on regulatory, corporate structuring and transactional mandates. Additionally, the law firm assists with construction projects. Aequitas is often chosen by foreign investment companies on cross-border mandates, where the firm provides valuable due diligence.

Work highlights. Aequitas Law Firm assisted East Star Resources with its acquisition of Discovery Ventures Kazakhstan.

Strengths. "Aequitas demonstrates a keen understanding of business needs and an ability to provide pragmatic legal advice aligned with commercial objectives."

"Aequitas's service level is commendably thorough, demonstrating a deep understanding of the complexities in the energy sector, coupled with proactive and efficient responsiveness to client needs."

Notable practitioners. Olga Chentsova (Eminent Practitioners) is based in Almaty and is the managing partner at Aequitas. She has a significant amount of experience in advising on matters related to oil and gas.

"Olga exhibits exceptional legal acumen, coupled with a client-centric approach that ensures tailored and effective representation."

AEQUITAS remains a top tier choice for local counsel. It specialises in banking and finance, labour and employment, M&A, natural resources and environmental law. The firm has been expanding in the areas of healthcare and pharmaceuticals and has developed recognition in the market for specialist areas such as insurance, media and customs. It is also foraying into the bitcoin and cryptocurrency space with recent work representations. Managing partner Olga Chentsova is a key contact.

Advising Coinhub on matters related to cryptocurrency exchanges and applicable regulations in the Kazakhstan territory.

Assisting a global project in the restructuring of a German business, involving preparation of the reorganisation plan and spin-off of the mining business, transfer of assets, re-registration of ThyssenKrupp Industrial Solutions Kazakhstan, and registration of a branch of ThhyssenKrupp Mining Technologies.

Yuliya Chumachenko

Olga Chentsova

What the team is known for. AEQUITAS Law Firm has a notable domestic legal practice in Kazakhstan, assisting international clients with local law issues affecting cross-border mandates as well as representing domestic clients in local projects. The law firm is experienced in project financing, construction, corporate and financial restructurings and M&A projects. Aequitas Law Firm's domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan.

Work highlights. Aequitas provided legal advice to Elements Group and its subsidiary Convexity, specialising in blockchain, on engagement of freelance programmers and software engineers in Kazakhstan.

What the team is known for. AEQUITAS Law Firm is a highly reputed domestic law firm in Kazakhstan, which represents clients in a broad range of commercial disputes, including contractual and debt recovery cases, as well as domestic enforcement work. The legal practice is also frequently engaged to provide Kazakh law expertise in international arbitrations seated overseas. The law firm regularly handles tax and construction disputes. Aequitas often acts for international and domestic clients from the professional services, construction and consumer goods sectors.

Strengths. "Their lawyers demonstrate strong analytical skills and have a comprehensive and complex approach."

"Their lawyers have strong intellectual strength and the ability to find logical solutions."

Work highlights. Aequitas advised NATUSANA on litigation against Kazakhstan customs authorities regarding the classification of its pharmaceuticals.

What the team is known for. AEQUITAS Law Firm is an established domestic legal practice in Kazakhstan, well versed in subsoil-related regulatory issues. The legal practice also advises international and domestic corporates on regulatory, corporate structuring and transactional mandates. Additionally, the law firm assists with construction projects. Aequitas is often chosen by foreign investment companies on cross-border mandates, where the firm provides valuable due diligence.

Strengths. "Aequitas Law Firm is flexible in its approach and understands the legal and commercial needs of the client."

"The local team was well aware of the environment our client operated in and was able to tailor its advice and diligence accordingly."

Yelena Manayenko Band 4 heads the firm's M&A practice. She advises on both domestic and cross-border transactions and related due diligence work.

Olga Chentsova Eminent Practitioners is the firm's managing partner, based in Almaty. She is well regarded for her expertise in international arbitration and domestic litigation matters.

Ardak Idayatova Band 4 is a partner in Almaty who advises major international clients on a range of disputes, including tax, construction and bankruptcy. She is regarded for her expertise in civil cases concerning Kazakh law.

"Ardak is technically a very good lawyer."

"Ardak is a great lawyer, who is highly professional and business-oriented."

Olga Chentsova Eminent Practitioners is based in Almaty and is the managing partner at AEQUITAS. She has a significant amount of experience in advising on matters related to oil and gas.

AEQUITAS finds its strengths within securities transactions, bank loans, acquisition of assets, shares and commodities. Yelena Manayenko Recommended leads the practice, with experience in major transactions and projects, alongside advising clients on the issues of structuring local and international transactions. Yekaterina Khamidullina Recommended is noted for her expertise in project finance and anti-corruption compliance matters.

• Olga Chentsova Hall of Fame, Yelena Manayenko Leading Individual, Yekaterina Khamidullina Rising star

Lead by Almaty-based corporate and commercial law experts Yelena Manayenko Leading Individual and Yuliya Chumachenko Recommended, AEQUITAS features expertise in deal structuring and negotiations, applications before Kazakhstan’s competition regulator and in the development of Kazakhstan’s corporate legislation. The firm handles matters for a range of high profile clients such as Deutsche Bank and Johnson & Johnson, alongside cooperating with prestigious law firms around the world. Olga Chentsova has been advising major global oil and mining companies on issues pertaining to corporate legislation, while Yekaterina Khamidullina Rising star is another notable name.

Key clients

Elements Group AG

AEQUITAS focuses on cross-border litigation and commercial arbitration, frequently working with firms from other jurisdictions on cross-border disputes. The team is prevalent across multiple areas across dispute resolution, including contract, construction, patent and copyright, banking and liquidation.

Testimonials

"The company works with knowledge of the case and clear approaches. All issues of the court case were resolved promptly and on time.”

“I liked that the lawyers of AEQUITAS were extremely client-oriented, worked with an individual approach to each emerging issue."

• Olga Chentsova Hall of Fame, Zhandaulet Sholanov Rising Star

Led by Yelena Manayenko Recommended, AEQUITAS specialise on a range of issues across its subsoil use practice, having advised clients on business structuring, asset acquisition and privatisation. The team has participated in negotiations on mineral-exploration and production contracts between investors and the Kazakh government, alongside assisting in international arbitrations and Kazakh courts to settle disputes over matters related to the activities of mining and processing companies. Almagul Agadil Recommended advises major transnational companies in transactions involving oil and gas companies, whereas Zhandaulet Sholanov Rising Star is experienced in projects dealing with subsoil use, energy issues and renewable energy.

Testimonials

“Aequitas is very knowledgeable, proactive and has been very helpful in understanding local requirements. The team is flexible and efficient”.

“Yelena Manayenko is very knowledgeable and was very helpful in dealing with local requirements involving a large cross-border transaction. She has demonstrated flexibility and efficiency throughout the mandate”.

AEQUITAS provides legal support to the construction of infrastructure projects. The team was led by Ardak Idayatova, who specialised in all-round support to major projects, including representing foreign investors, international development banks and foreign contractors.

Testimonials

“We appreciate AEQUITAS customer focus, efficiency, individual approach and high level of the provided services”.

“AEQUITAS lawyers are very professional, they have a great experience which they use day by day. They are very convenient to contact, because they always stayed in touch and gave prompt feedback on all requests”.

– Yuliya Chumachenko Leading Individual

AEQUITAS provides general tax law consultations, including client representation in court in connection with major tax disputes, drafting IFRS-compliant accounting tax policies for resident and non-resident legal entities, alongside providing tax registration of non-residents when opening bank accounts in Kazakhstan. Yuliya Chumachenko Leading Individuals is noted for her advisory work in the pharmaceutical sector. Kristina Mychka Recommended is another key contact.

Other key lawyers

Larissa Yemelyanova; Alexandr Chumachenko; Anton Alexeyev

Testimonials

“We appreciate AEQUITAS customer focus, efficiency, individual approach and high level of the provided services”.

“Kristina Mychka and Anton Alexeyev accompany our business related to tax issues. They have proven themselves as experienced professionals who in time can analyze the situation and offer the most advantageous solutions”.

Kirill Greshnikov Rising Star

Led by Yelena Manayenko Recommended, AEQUITAS advises on local law issues across the TMT spectrum, including data processing, lease of communication channels and cryptographic information protection, with the team regularly providing and preparing articles and guides on the cryptocurrency, digital assets and other principles relating to TMT. Kirill Greshnikov Rising Star specialises in digital, corporate and commercial law with a focus on TMT within the financial sector.

Key clients

Elements Group AG

Kazakhstan: Firm of the Year

Olga Chentsova - Thought Leader

Olga Chentsova - Global Elite Thought Leader Natalya Braynina - Recommended Yelena Manayenko - Recommended

Yuliya Chumachenko - Recommended

Olga Chentsova - Recommended Natalya Braynina - Recommended

Nurlan Sholanov - Recommended

AEQUITAS is recommended in M&A - Tier 2, Capital Markets - Tier 3, Banking & Finance - Tier 3 and Project Development - Tier 3 and is recognized as a leading domestic law firm.

Managing Partner Olga Chentsova was named Highly regarded Lawyer in the field of Energy & Infrastructure and Project development, and was included into the IFLR1000 Women Leaders elite ranking.

Yelena Manayenko, Partner and Head of M&A, was also noted as Highly regarded Lawyer in Banking and M&A practices.

Review. Aequitas is a full-service law firm with an office in Almaty, Kazakhstan, founded in 1993.

The firm is experienced in corporate law and project development. In banking and finance it advises the financing side on ISDA agreements, derivative purchases, direct financing, project financing and provides regulatory advice.

In project development it advises investors and contractors on projects in construction and mining.

AEQUITAS remains a top-tier choice for local counsel. It specialises in banking and finance, labour and employment, M&A, natural resources and environmental law. The firm has been expanding in the areas of healthcare and pharmaceuticals and has developed recognition in the market for specialist areas such as insurance, media and customs. It is also foraying into the bitcoin and cryptocurrency space with recent work representations. Managing partner Olga Chentsova is a key contact.

Work highlights. Advised ForgeGlobal on issues relating to the acquisition and sale of securities by the US-based brokers to clients who are Kazakhstan residents. Advised Coinhub on complying with Kazakhstan’s law and regulation regarding activities of cryptocurrency exchanges. Acted as the local counsel for Thyssenkrupp on the Kazakhstan part of the company’s restructuring.

Key clients. Berlin Chemie, DAI Global, Johnson & Johnson, Unilever

Client feedback. “AEQUITAS is very responsive, flexible and thoughtful with regard to the client’s business concerns.” – Corporate and M&A

Tair Kulteleev. “Very quick in responding to the client’s business concern.”

Yuliya Chumachenko

Olga Chentsova

Infrastructure

Oil and gas

What the team is known for. AEQUITAS Law Firm has a notable domestic legal practice in Kazakhstan, assisting international clients with local law issues affecting cross-border mandates as well as representing domestic clients in local projects. The law firm is experienced in project financing, construction, corporate and financial restructurings and M&A projects. The team represents clients from sectors such as cryptocurrency, retail, oil and gas, energy and pharmaceutical, with examples including Coinhub, thyssenkrupp and Johnson & Johnson. Aequitas Law Firm's domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan

Strengths. "They have an intuitive grasp of cross-border dynamics."

"The team members are attentive to detail and provide complex legal support."

"They adapt to client needs and complex problems."

Work highlights. AEQUITAS advised thyssenkrupp on the re-registration of thyssenkrupp Industrial Solutions Kazakhstan as well as supporting on the overall reorganisation plan for the German business.

What the team is known for. AEQUITAS Law Firm is a highly reputed domestic law firm in Kazakhstan, which represents clients in a broad range of commercial disputes, including contractual and debt recovery cases, as well as domestic enforcement work. The legal practice is also frequently engaged to provide Kazakh law expertise in international arbitrations seated overseas. The law firm regularly handles tax and construction disputes. Aequitas often acts for international and domestic clients from the professional services, construction and consumer goods sectors.

Work highlights. AEQUITAS advised Leighton Agrio and Anahata Solutions in filing an application to recognise seven of the companies' debtors as bankrupt.

What the team is known for. AEQUITAS Law Firm is an established domestic legal practice in Kazakhstan, well versed in subsoil-related regulatory issues. The legal practice also advises international and domestic corporates on regulatory, corporate structuring and transactional mandates. Additionally, the law firm assists with construction projects. Aequitas is often chosen by foreign investment companies on cross-border mandates, where the firm provides valuable due diligence.

Strengths. "They are responsive and precise."

"AEQUITAS worked with great efficiency and well under the proposed budget."

Work highlights. AEQUITAS advised an electrical energy producer on a bank loan to finance the construction of a gas-fired power plant in Uzbekistan.

Nurlan Sholanov Band 4 is the head of AEQUITAS Law Firm's corporate practice, based in Almaty. He is experienced in handling a range of matters including advising on cryptocurrency regulation, as well as group restructurings.

Yelena Manayenko Band 4 heads the firm's M&A practice. She advises on both domestic and cross-border transactions and related due diligence work. "Yelena is a highly qualified expert providing comprehensive legal support."

Olga Chentsova Eminent Practitioners is the firm's managing partner, based in Almaty. She is well regarded for her expertise in international arbitration and domestic litigation matters.

Ardak Idayatova Band 4 is a partner in Almaty who advises major international clients on a range of disputes, including tax, construction and bankruptcy. She is regarded for her expertise in civil cases concerning Kazakh law.

Olga Chentsova Eminent Practitioners is based in Almaty and is the managing partner at AEQUITAS. She has a significant amount of experience in advising on matters related to oil and gas. "She is a very distinguished lawyer."

​AEQUITAS is recommended in M&A Tier 2, Capital Markets: Debt Tier 2, Capital Markets: Equity Tier 3, Banking & Finance Tier 3 , Financial & Corporate Tier 2 and Project Development Tier 3 and is recognized as a leading domestic law firm.

Managing Partner Olga Chentsova Highly regarded was named Highly regarded Lawyer in the field of Energy & Infrastructure and Project development, and was included into the IFLR1000 Women Leaders elite ranking. Yelena Manayenko Rising star, Partner and Head of M&A, was also noted as Rising Star in Banking and M&A practices.

Focusses / specialisms. The firm is experienced in corporate law and project development. In banking and finance it advises the financing side on ISDA agreements, derivative purchases, direct financing, project financing and provides regulatory advice.

In project development it advises investors and contractors on projects in construction and mining.

Key clients. Among the clients of the firm are ForgeGlobal and Bitfury.

• Ardak Idayatova Next Generation Partner; Rising Star

AEQUITAS focuses on complex cross-border litigation and commercial arbitration, as well as investment arbitration, in matters that are predominantly based outside of Kazakhstan. In cases with a foreign element, the team collaborates with specialists from respective jurisdictions, bringing outbound work to international law firms. Practice head Ardak Idayatova Recommended, who also heads the firm’s infrastructure and PPP practice, has extensive experience of construction arbitration, particularly those concerning FIDIC contracts. Elsewhere, the group has expertise in disputes connected to employment, banking and bankruptcy, among others. Valikhan Shaikenov left the firm in February 2022 to found Shaikenov Law Experts (SHEL).

Other key lawyers

Farukh Iminov

Testimonials

"A professional team with deep knowledge of the subject. Always very precise and follow the timeline.”

“Very responsive, digging into the depth of the question and details to give the best solutions. Thoroughly prepared and open to discussion."

The construction and real estate department at AEQUITAS is known for its involvement in the construction of major industrial and social facilities, as well as large residential complexes in Kazakhstan. Construction-related litigation and international arbitration form a significant portion of the team’s workload, although it is also well-placed to provide foreign investors with transactional advice in relation to land plots, buildings, and residential and administrative compounds. Ardak Idayatova Recommended and Nurlan Sholanov Recommended jointly head up the practice. Valikhan Shaikenov left the firm in February 2022.

Yelena ManayenkoRecommended and Nurlan Sholanov Recommended head the banking and finance practice at AEQUITAS. International clients turn to the firm for its experience in local business and security transactions, bank loans, and the acquisition of assets, shares and commodities. In addition, the group advises on Islamic finance and alternative financing instruments and has seen recent growth in the number of clients whose activities relate to the use of cryptocurrency in Kazakhstan. Another name to note is senior associate Yekaterina Khamidullina Recommended.

Other key lawyers

Yekaterina Khamidullina; Kirill Greshnikov

Testimonials

“AEQUITAS has assisted us in multiple matters over the past few years in relation to Kazakhstan law, and I have been delighted by their service in all respects.”

• Olga Chentsova Hall of Fame

Almaty-based partners Yelena Manayenko Recommended, Nurlan Sholanov Recommended and Yuliya Chumachenko Recommended jointly head the corporate department at AEQUITAS. M&A work is a core area of focus for the team, who are able to assist with deal structuring and negotiations, the acquisition of shares and assets, and applications before Kazakhstan's competition regulator. Elsewhere, the practice is renowned for its involvement in the development of Kazakhstan’s corporate legislation, including the civil code, law on limited and additional liability partnerships, and law on joint stock companies.

Other key lawyers

Yekaterina Khamidullina; Alexandr Chumachenko; Larissa Yemelyanova; Tair Kulteleev; Anton Alexeyev

Testimonials

“A professional team with deep knowledge of the subject. Always very precise in the information and follow the timeline.”

“Very responsive, digging into the depth of the question and details to give the best solutions.”

“Aequitas provides very high-quality legal services in Kazakhstan; we had no doubts about who to contact for advice. The work was done clearly within the agreed time frame, and we received the most comprehensive answers to our questions.”

“Yulia Chumachenko and Anton Alekseev proved to be extremely responsible performers, they were always in touch and explained all the ways to solve our issue as clearly as possible.”

“Highly professional and business oriented. They’re one of the best law firms I’ve ever worked with.”

“Yulia Chumachenko is a great lawyer. I hope there will be some new projects with her and the team in the field of pharmaceutical/corporate law.”

• Olga Chentsova Hall of Fame

AEQUITAS‘ energy and natural resources department focuses on subsoil use (oil and gas and solid minerals), with the team acting for leading mining and processing companies. The group have experience advising on a diverse range of issues, including M&A, financings and business structurings, as well as mineral exploration and production contracts between investors and the state. It is also well-placed to handle international arbitration proceedings and litigation in the Kazakh courts to settle mining-related disputes. Almaty-based partners Yelena Manayenko Recommended and Nurlan Sholanov Recommended head up the practice, which also includes managing partner Olga Chentsova Recommended.

– Yuliya Chumachenko Leading Individual

Almaty-based partners Yuliya Chumachenko Recommended and Ardak Idayatova Recommended jointly head up the tax and customs practice at AEQUITAS. Praised by clients for its ‘deep knowledge‘, the team has experience in tax disputes before tax authorities, as well as in matters involving tax return completion, tax registration, and the drafting of IFRS-compliant accounting tax policies. The practice’s recent workload has largely revolved around clients operating in the pharmaceutical sector, including some of the world’s foremost multinationals, as well as a number of energy sector players. Other key individuals include senior associates Larissa Yemelyanova Recommended and Alexandr Chumachenko Recommended.

Other key lawyers

Larissa Yemelyanova; Alexandr Chumachenko

Testimonials

“A professional team with deep knowledge.”

“Very responsive, digging into the question and details to give the best solutions.”

“AEQUITAS provides very high-quality legal services. The work was done clearly and within the agreed time frame. We received the most comprehensive answers to our questions.”

“Extremely responsible and always in touch.”

AEQUITAS‘ work in the TMT space includes transactional M&A support, licensing matters and advice on the use of modern information technologies and equipment. The firm has been recently engaged by clients operating in the pharmaceutical, telecommunications and fintech sectors, such as Digital Health Technologies and Coinhub. Nurlan Sholanov Recommended – whose focus encompasses corporate law and project finance – heads up the practice. Senior associate Tair Kulteleev Recommended is also noted. All named lawyers are based in Almaty.

Other key lawyers

Tair Kulteleev

Testimonials

“Fast and precise answers were the main factors in choosing this law firm.”

“Tair Kulteleev was our main contact and was always available to answer our questions.”

AEQUITAS is the Firm of the Year in Kazakhstan

Thought Leaders – Firm Management 2023

Olga Chentsova Thought Leader

Energy – Oil & Gas 2023

Olga Chentsova Global Elite Thought Leader is a top-notch lawyer who sources recommend thanks to her profound ability when it comes to complex oil and gas law issues.

Natalya Braynina Recommended is adept at representing clients active in the oil and gas industries on a range of matters including acquisitions and litigation proceedings.

Yelena Manayenko Recommended **

Labour Employment & Benefits 2023**

Yuliya Chumachenko Recommended **

M&A and Governance 2023**

Olga Chentsova Recommended

Natalya Braynina Recommended

Project Finance 2023

Nurlan Sholanov Recommended

Leading firm AEQUITAS remains a top tier choice for local counsel. It specialises in banking and finance, labour and employment, M&A, natural resources and environmental law. The firm has been expanding in the areas of healthcare and pharmaceuticals and has developed recognition in the market for specialist areas such as insurance, media and customs. It is also foraying into the bitcoin and cryptocurrency space with recent work representations. Managing partner Olga Chentsova is a key contact.

Advised syndicate of lenders comprising European Bank for Reconstruction and Development (EBRD), Eurasian Development Bank (EDB) and Islamic Development Bank (IsDB) on the financing of the BAKAD road project. The firm also assisted the lenders to adapt the international project finance structure to the Kazakhstan legal environment. The BAKAD project is the first PPP (concession) project of special significance in Kazakhstan financed by a syndicate of international development banks. Key clients. Bank of Montreal, Dolphin Corp, Pfizer, Willis Towers Watson

Client feedback. “Deep knowledge of the underlying matters, strong analysis skills.” – Banking and finance

“Professional answers to questions.” – Corporate and M&A

“Strong communication and professionalism.” – Private client

**Ardak Idayatova. **“Good client relationship management, deep knowledge of specific laws and regulations.”

Yuliya Chumachenko

Valikhan Shaikenov

Olga Chentsova

Infrastructure

Oil and gas

What the team is known for. AEQUITAS Law Firm has a notable domestic legal practice in Kazakhstan, assisting international clients with local law issues affecting cross-border mandates as well as representing domestic clients in local projects. The law firm is experienced in project financing, construction, corporate and financial restructurings and M&A projects. The team represents clients from sectors such as banking, retail, technology, manufacturing and pharmaceutical, with examples including Bank of Montreal, Pfizer and Dornier MedTech. AEQUITAS Law Firm's domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan. Strengths. "We appreciate AEQUITAS' responsiveness, clarity and ability to comply with the instructions provided and meet relevant deadlines," says one interviewee. Another source describes the team as "client-focused." Work highlights. AEQUITAS Law Firm advised Dolphin Corp, which promotes and sells trading technology in financial markets, on issues related to the regulation of binaries in Kazakhstan

What the team is known for. AEQUITAS Law Firm is a highly reputed domestic law firm in Kazakhstan, which represents clients in a broad range of commercial disputes, including contractual and debt recovery cases, as well as domestic enforcement work. The legal practice is also frequently engaged to provide Kazakh law expertise in international arbitrations seated overseas. The law firm regularly handles tax and employment disputes. AEQUITAS often acts for international and domestic clients from the manufacturing, construction and consumer goods sectors. Strengths. Interviewees highlight AEQUITAS Law Firm's "practical commentary which has business application." "AEQUITAS is very prompt and very thorough, and has also been very flexible," reports another source. Work highlights. AEQUITAS Law Firm represented Unilever Kazakhstan in a number of disputes with its former distributors

What the team is known for. AEQUITAS Law Firm is an established domestic legal practice in Kazakhstan, well versed in subsoil-related regulatory issues. The legal practice also advises international and domestic corporates on regulatory, corporate structuring and transactional mandates. Additionally, the law firm assists with construction projects. Aequitas is often chosen as local counsel by international law firms on cross-border mandates, where the firm provides valuable due diligence and regulatory insight. Strengths. "AEQUITAS Law Firm is very responsive and knowledgeable, and the advice they give is clear," reports one source. Work highlights. AEQUITAS Law Firm advised a Chinese petroleum company on the structuring of a transaction involving alienation of a part of its Kazakhstan assets.

Nurlan Sholanov Band 4 is the head of Aequitas Law Firm's corporate practice, based in Almaty. He is experienced in handling a range of corporate matters including setting up new companies, as well as project finance.

Olga Chentsova Eminent Practitioners is the firm's managing partner, based in Almaty. She is well regarded for her expertise in international arbitration and domestic litigation matters.

Valikhan Shaikenov Band 3 is a partner and head of dispute resolution in Almaty. He is experienced in domestic litigation and international arbitration matters. "He understands the commercial needs of a client coupled with looking at working under the law," according to one interviewee.

Violetta Kim Senior Statespeople is a counsel in Almaty. She is a long-established lawyer who is noted for her expertise in domestic commercial disputes and arbitration matters. She is also a former Supreme Court judge who is well regarded by market commentators.

Ardak Idayatova Band 4 is a partner in Almaty who enters the rankings on the back of market recognition. She advises major international clients on a range of disputes, including tax, construction and bankruptcy.

Olga Chentsova Eminent Practitioners has a significant amount of experience in advising on matters related to oil and gas.

AEQUITAS is recommended in M&A Tier 2, Capital Markets: Debt Tier 2, Capital Markets: Equity Tier 3, Banking & Finance Tier 3, Financial & Corporate Tier 2 and Project Development Tier 3 and is recognized as a leading domestic law firm.

Managing Partner Olga Chentsova Highly regarded was named Highly regarded Lawyer in the field of Energy & Infrastructure and Project development. Valikhan Shaikenov Highly regarded, Partner and Head of Dispute Resolution and Arbitration practice, was ranked Highly regarded Lawyer for Energy & Infrastructure: Disputes. Yelena Manayenko Notable practitioner, Partner and Head of M&A, was also noted.

AEQUITAS is particularly well versed in major cross-border disputes for which the firm regularly joins forces with foreign firms through law network TerraLex. Established in 1993, the firm demonstrates particular strength in commercial arbitration and investment arbitration, with construction, employment and insurance disputes accounting for a significant portion of the recent caseload, including matters from the oil and gas sector. The team includes advisors with experience as representatives and arbitrator in arbitration proceedings, including those held under the auspices of the LCIA, ICC, UNCITRAL, GAFTA, SCC and International Commercial Arbitration Court (ICAC). The Almaty-based former head of practice Valikhan Shaikenov Leading individuals, Ardak Idayatova Rising stars and managing partner Olga Chentsova Recommended direct the practice, which includes two former justices of the Supreme Court of the Republic of Kazakhstan in Violetta Kim Recommended and Aislu Shaikenova.

Testimonials

“Very knowledgeable and insightful.”

“Willingness to fully realise their abilities for solving problems; striving to obtain the best possible result; achievement of the set goals, despite the obstacles.”

“Ardak Idayatova has great potential.”

AEQUITAS has a strong track record advising clients on the construction of major industrial and social facilities and large residential complexes in Kazakhstan. Clients also turn to the firm for advice on project finance transactions, as well as construction litigation and arbitration. It has recently become a member of the global law network TerraLex and acts for clients such as the European Bank for Reconstruction and Development. Nurlan Sholanov, former Partner Valikhan Shaikenov, Ardak Idayatova and Olga Chentsova work with a number of international clients across different areas of the real estate and construction sector.

AEQUITAS has operated a banking and finance practice since 1993, in which time it has advised clients on business and security transactions, bank loans and acquisition of assets. Lawyers are also able to advise on Islamic finance and alternative financing instruments. It has recently become a member of the global law network TerraLex. Almaty-based partners Yelena Manayenko Recommended and Nurlan Sholanov Recommended work with a number of international clients across different areas of the banking sector.

Testimonials

“Deep analysis, practical examples and client management.”

“Good knowledge of underlying matters, operative feedback and working to strict deadlines.”

• Olga Chentsova Hall of Fame

AEQUITAS has been active in providing legal support for M&A transactions. The practice has participated in the development of the most important acts in the development of Kazakhstan’s corporate legislation, such as the civil code, law on limited and additional liability partnerships and law on joint stock companies. It has recently become a member of the global law network TerraLex. Almaty-based partners Yelena Manayenko Recommended, Yuliya Chumachenko and Nurlan Sholanov Recommended work with a number of international clients across different areas of the energy and natural resources sectors.

Testimonials

"The Aequitas team applies an individual approach to support us. All tasks are done timely and of proper quality. There is a system to monitor and notify clients about needed updates or changes."

"Overall, we appreciated their responsiveness, clarity and ability to comply with the instructions provided and meet relevant deadlines."

"They are always available for any kind of support and fast in giving feedback and answers. We very much appreciated their proactiveness and standing. In particular, I’d like to highlight the fact that all their materials were written excellently."

Olga Chentsova Hall of Fame

AEQUITAS' team has experience of advising clients on mineral exploration and production contracts with the Kazakh government. The practice specialises in subsoil use and its clients include leading mining and processing companies. Practitioners are also able to advise on Islamic finance and alternative financing instruments. The firm has recently become a member of the global law network TerraLex. Almaty-based partners Yelena Manayenko Recommended and Nurlan Sholanov and managing partner Olga Chentsova Hall of Fame work with a number of international clients across different areas of the energy and natural resources sectors.

AEQUITAS is active in local and cross-border tax matters, with its work encompassing tax disputes and the drafting of IFRS-compliant accounting tax policies. Its team has experience of advising large pharmaceutical companies and oil exploration ventures on tax matters, in addition to undertaking due diligence work for companies active in areas such as logistics and transportation. The firm has recently become a member of the global law network TerraLex. Almaty-based partners Yuliya Chumachenko and Ardak Idayatova are the names to note.

AEQUITAS is the Firm of the Year in Kazakhstan

Arbitration 2022

Valikhan Shaikenov Recommended

Energy 2022

Olga Chentsova Global Elite Thought Leader is a top-notch lawyer who sources recommend thanks to her profound ability when it comes to complex oil and gas law issues.

Natalya Braynina Recommended is adept at representing clients active in the oil and gas industries on a range of matters including acquisitions and litigation proceedings.

Labour Employment & Benefits 2022

Yuliya Chumachenko Recommended

M&A 2022

Olga Chentsova Recommended

Natalya Braynina Recommended

Project Finance 2022

Nurlan Sholanov Recommended

Leading firm AEQUITAS remains a top tier choice for local counsel. It specialises in banking and finance, labour and employment, M&A, natural resources and environmental law. The firm has been expanding in the areas of healthcare and pharmaceuticals and has developed recognition in the market for specialist areas such as insurance, media and customs. It is also foraying into the bitcoin and cryptocurrency space with recent work representations. Managing partner Olga Chentsova is a key contact.

Work highlights. Acted for Siemens on the local leg of the company’s global restructuring, which included advice on corporate issues.

Represented the Kuwait Food Company, which is in Kazakhstan under the name Americana Group, on its regional restructuring. The client runs 90 restaurants in the country.

Supported Brokers IO on its local market entrance as the first company with a project providing cryptocurrency buying and selling services to the mass consumer.

Advising the European Bank for Reconstruction and Development, the Eurasian Development Bank, and the Islamic Development Bank as a lending syndicate of $585 million debt financing for a concessionary project involving the construction and operation of a ring high-speed toll road, the Big Almaty Ring Road.

Acted for Portuguese company, Calouste Gulbenkian Foundation, on its 100% share sale in its subsidiary organisation Partex Holding to Thai state energy PTT Exploration and Production Public Company (PTTEP). Upon closing, Partex held a 20% interest in the production sharing agreement for the major oil and gas Dunga field in Kazakhstan.

Key clients. Bitfury, Chevron, Gazprombank, Marks & Spencer

Client feedback. “Provides services in a timely manner with high quality.” – Banking and finance

“The firm provides tailored-made advice. Excellent work within a multi-jurisdictional group of lawyers. Takes an extraordinary approach to challenging tasks.” – Corporate and M&A

“Strong communication and professionalism.” – Tax

Yekaterina Khamidullina. “She is proactive and responsive” and “provides good communication and clear answers.”

“Firm has perfect client service, meaning prompt replies, always accessible, and very good expertise.” – Labour and employment

Yuliya Chumachenko

“Representatives of the law firm stick to given deadlines, are easily accessible and make additions and clarifications to the opinion when requested.” – Dispute resolution

Valikhan Shaikenov Distinguished practitioner. “He has the ability to think out of the box and provides exclusive solutions that fit clients' requirements.”

Lyailya Tleulina is “responsive and competent.”

Olga Chentsova

Natalya Braynina

**Infrastructure **

Natalya Braynina **

Oil and gas**

What the team is known for. Leading domestic firm, assisting international clients with local law issues affecting cross-border mandates as well as representing domestic clients in local projects. Experienced in project financing, corporate and financial restructurings and M&A projects. Particularly well regarded for domestic corporate and regulatory advice. Provides further advice on construction-related mandates. Acts for clients from a variety of sectors, including retail, technology, manufacturing and pharmaceutical as well as banking. Its domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan. Strengths. A satisfied client appreciates that they "always provides reliable assistance" and "adapt well to our needs." Work highlights. Provided domestic law support to Siemens on its corporate reorganisation

What the team is known for. Highly reputed domestic team representing clients in a broad range of commercial disputes, including contractual and debt recovery cases as well as domestic enforcement work. The team is also frequently engaged to provide Kazakh law expertise in international arbitrations seated in London, Stockholm and Nur-Sultan. Regularly handles tax and intellectual property disputes. Often acts for international and domestic clients from the manufacturing, construction and pharmaceutical sectors. Strengths. A client appreciates the team's commercial and detailed approach, noting that it "devotes a large amount of time analysing risks and developing ways to minimise or eliminate them," before going on to add that "all solutions offered by Aequitas are clear, pragmatic and cost-effective."Another confirms: "All the answers and recommendations were provided not only from a theoretical standpoint but also with a possibility of their practical implementation." Work highlights. Acted for TransGroup Systems on a recovery claim with its contractor.

What the team is known for. Established domestic practice, well versed in subsoil-related regulatory issues. Also advises international and domestic corporates on regulatory, corporate structuring and transactional mandates. Additionally assists with construction projects. Often chosen as local counsel by international law firms on cross-border mandates, where the firm provides valuable due diligence and regulatory insight. Strengths. Sources universally agree on the team's academic approach, with one noting: "Their advice is academically fundamental and thorough, but at the same time addresses practical aspects, solutions and recommendations." One source praises their commercial approach, reporting: "They were good in trying to engage in the process and figure out what works from a local perspective." Work highlights. Advised Zhetysu Volframy on restructuring issues

Yelena Pestereva possesses experience advising international banks on significant financing mandates. She also focuses on corporate-related matters. Market commentators praise her domestic law expertise.

Olga Chentsova Eminent Practitioners continues to be widely acknowledged in the market for her marked skill in domestic litigation and international arbitration. One impressed client notes: “She is our light in Kazakhstan.”

Valikhan Shaikenov Band 3 is praised by market sources for his “good knowledge of law and amazing analysis.” He possesses significant experience in cross-border disputes and provides expert Kazakh law advice in arbitrations. Interviewees also extol his academic expertise.

Violetta Kim Senior Statespeople is recognised for her longstanding experience in domestic commercial disputes, as well as arbitration cases. She is also a former Supreme Court judge who attracts praise from market commentators.

Olga Chentsova Eminent Practitioners described by interviewees as “one of the stars in the legal market.” Sources praise her vast amount of experience in the oil and gas space.

AEQUITAS is recommended in M&A Tier 2, Capital Markets: Debt Tier 2, Capital Markets: Equity Tier 3, Banking & Finance Tier 3, Financial & Corporate Tier 2 and Project Development Tier 3 and is recognized as a leading domestic law firm.

Managing Partner Olga Chentsova Highly regarded was named Highly regarded Lawyer in the field of Energy & Infrastructure and Project development. Valikhan Shaikenov Highly regarded, Partner and Head of Dispute Resolution and Arbitration practice, was ranked Highly regarded Lawyer for Energy & Infrastructure: Disputes.

Client feedback. “A very thoughtful analysis and professional advice.” “Deep knowledge and thoughtful analysis of the underlying matter.” – Bank lending: Lender side

“They are very responsive, always responding in a timely, helpful and clear manner.” – Capital markets: Derivatives

“AEQUITAS Law Firm were responsive to our needs and requests in this matter, commercial, and provided good quality of service throughout.” “AEQUITAS Law Firm were responsive to the work we required of them, with good commercial knowledge and understanding of the information we required. AEQUITAS provided both good-quality work and service to us as the client.” – Project development

“AEQUITAS have perhaps the strongest dispute resolution team in Kazakhstan.” – Project development: Infrastructure

AEQUITAS advises international clients on local regulations, securities work, investment portfolios, and complex projects. The team also has a strong track record in cooperating with international law firms on IPOs. Head of the banking and finance team Nurlan SholanovRecommended supervises on key project finance matters. The group works frequently with the Astana International Financial Centre.

Testimonials

“Very responsive and diligent. Great team and a pleasure to work with.”

“Operative and exhaustive responses to the client’s queries, ability to work within the hard timelines and under pressure, detailed elaboration of a subject matter.”

Olga Chentsova Hall of Fame

The corporate and M&A team at AEQUITAS frequently advises local Kazakh companies on listings on the London and Kazakhstan Stock Exchanges. Additionally, it has also acted on major inbound acquisitions, the establishment of Kazakh subsidiaries, and the development of important corporate legislation. The team handles the full range of M&A-related work, from due diligence to applications for the approval of transactions by anti-monopoly government agencies. Nurlan SholanovRecommended supervises on project finance matters and is particularly well-versed in M&A and private equity issues. Natalya BrayninaRecommended leads on M&A, and Yuliya ChumachenkoRecommended is also a key contact.

Testimonials

“The legal services provided by AEQUITAS have always been and remain at a decent and high professional level. Deep knowledge of their profession, speed and customer focus – all this adequately characterise the AEQUITAS team.”

“Professional, structured approach to every project. Clear understanding of the client expectations & adaptation of the deliverable in accordance to the client needs.”

“Very responsive and diligent. Great team and a pleasure to work with.”

“Proactive approach, timely execution of any project.”

AEQUITAS focuses primarily on complex multijurisdictional commercial disputes, as well as local Kazakh commercial arbitration cases. In 2019, the team became a participant at the Astana International Financial Center. Valikhan Shaikenov Leading individuals splits his time between Almaty and Berlin and leads on major pro bono work. Partner Ardak Idayatova Rising stars primarily focuses on construction arbitration and litigation. Managing partner Olga ChentsovaRecommended is an expert in international arbitration cases, particularly those concerning oil and gas, mining and construction.

The team at AEQUITAS frequently assists international law firms and corporations seeking to invest into Kazakhstan's oil and gas and natural resources markets. The group is also experienced in labour and antitrust issues and subsoil user procurement mandates; it was the first local firm to draft subsoil contracts. Managing partner Olga Chentsova Leading individuals was notably involved in drafting the petroleum and subsoil use law; he and Natalya Braynina Leading individuals lead on handling key matters including corporate and environmental issues, subsoil use, litigation and arbitration proceedings.

AEQUITAS excels in advising on the construction of major industrial developments, social facilities and large residential complexes. It handles mandates on a standalone basis and also frequently acts as local counsel to international firms on construction matters. In addition to undertaking non-contentious construction work, a significant portion of the workload involves representing clients in construction disputes. Elsewhere, the firm is noted for its work on structured transactions involving land plots, as well as securing obligations to foreign lenders. One of the names to note is Nurlan SholanovRecommended, who primarily acts for clients on project finance transactions and infrastructure projects, including the development of renewable energy sources. Olga ChentsovaRecommendedis another key name.

AEQUITAS focuses primarily on advising international and Kazakh clients in the construction sector on tax-related matters concerning major industrial facilities, infrastructure projects, and residential complexes. Olga ChentsovaRecommended and Nurlan SholanovRecommended are the practice heads.

Arbitration 2021

Valikhan Shaikenov Recommended

Energy 2021

Olga Chentsova Global Elite Thought Leader is a top-notch lawyer who sources recommend thanks to her profound ability when it comes to complex oil and gas law issues.

Natalya Braynina Recommended is adept at representing clients active in the oil and gas industries on a range of matters including acquisitions and litigation proceedings.

Labour Employment & Benefits 2021

Yuliya Chumachenko Recommended

M&A 2021

Olga Chentsova Recommended

Natalya Braynina Recommended

Project Finance 2021

Nurlan Sholanov Recommended

AEQUITAS specializes in banking and finance, labour and employment, M&A, natural resources and environmental law. The firm has been expanding in the areas of healthcare and pharmaceuticals. Managing partner Olga Chentsova is a key contact. The firm remains “Outstanding” in General business law and Energy rankings.

Work highlights. Advised international law firm network Ius Laboris on labour law.

Advised a Korean company in the iron and steel industry on the issue of returning a loan extended to a state-owned enterprise organised by the government of Kazakhstan.

Key clients. Bitfury Holding, Covington & Burling, FieldCore, Ipsen, Royal Wagenborg

Client feedback. “All was done professionally and in a timely manner.” – Corporate and M&A

“This is a very strong, reliable and client-oriented team, with a really good balance on what and how. Extremely compliant but not conservative.” – Regulatory

Yuliya Chumachenko is “great communicator and a trusted partner.”Italic

Larissa Yemelyanova is “very responsible, diligent and detail oriented.”

Valikhan Shaikenov

Olga Chentsova

Natalya Braynina

Natalya Braynina

Oil and gas

What the team is known for Leading domestic firm, assisting international clients on local law issues affecting cross-border mandates as well as representing domestic clients in local projects. Experienced in project financing, corporate and financial restructurings and M&A projects. Particularly well regarded for domestic corporate and regulatory advice. Its domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan. Strengths The firm is widely regarded as a leading domestic practice, with one source reporting: "If I'm asked to name a local firm which is the best in terms of quality, I'd pick them." Work highlights Provided due diligence support to Knauf Gips Kapchagay related to a proposed acquisition.

What the team is known for Market-leading domestic team representing clients in a broad range of commercial disputes, including contractual and debt recovery cases as well as IP and domestic enforcement work. The team is also frequently engaged to provide Kazakh law expertise in international arbitrations. Regularly acts for international and domestic clients from the natural resources, manufacturing, construction and pharmaceutical sectors. Strengths Sources are quick to note the firm's service-oriented approach to mandates. One describes the team as "responsible, accurate, client-oriented and very pleasant to communicate with." Work highlights Acted for Swiss pharmaceutical company Cilag on a debt recovery dispute against a Kazakh entity.

What the team is known for Established domestic practice, well versed in subsoil-related regulatory issues. Also advises international corporates on additional domestic regulatory and due diligence mandates. Offers corporate structuring and domestic law support to leading international oil and gas corporates. Acts as co-counsel to international law firms on cross-border mandates. Strengths Commentators confirm that it is "a very well-established firm" that handles "good-quality work." Work highlights Provided regulatory law advice to Chevron Munaigas regarding the recently updated subsoil use code in Kazakhstan.

Market commentators single out Yelena Pestereva for her capital markets expertise. She additionally advises clients on financing mandates and securitisation issues.

Managing partner Olga Chentsova is lauded for her “very impressive and very distinguished background in Kazakh civil law.” She acts as a Kazakh law expert in complex international arbitration.

Practice head Valikhan Shaikenov focuses on cross-border disputes, and is considered “my first port of call on Kazakh law issues” by one impressed international client, who goes on to explain: “He really analyses the issues in front of him.” Another international source confirms this, describing him as “a convincing advocate.” He often provides domestic representation to international law firms without a presence in Kazakhstan.

Violetta Kim is a former Supreme Court judge who commands respect from all corners of the market. She lends her unparalleled market insight to major domestic entities involved in high-value and complex commercial disputes, including arbitrations.

Managing partner Olga Chentsova oversees the practice. She is widely considered to be a “very good senior lawyer” by sources, who cite her academic knowledge of issues as a key strength.

AEQUITAS is recommended in Financial & Corporate T​ier 2 and Project Development Tier 3 and is recognized as a leading domestic law firm.

Managing Partner Olga Chentsova Highly regarded was named Highly regarded Lawyer in the field of Energy & Infrastructure and Project development. Valikhan Shaikenov Highly regarded, Partner and Head of Dispute Resolution and Arbitration practice, was ranked Highly regarded Lawyer for Energy & Infrastructure: Disputes.

AEQUITAS assists clients with local business financing transactions, security issues, bank loans and acquisition financing mandates. The team also handles the issuance and placement of shares, depository receipts and bonds on financial markets. AIG is a key client for the practice, which also recently advised Deutsche Bank on a variety of matters. Yelena Pestereva Recommended leads the banking and finance team and is experienced in corporate and compliance mandates, including environmental legislation work. Nurlan Sholanov Recommended is also a noteworthy practitioner.

Testimonials

“AEQUITAS is a great team with prompt turnaround.”

AEQUITAS frequently acts as local counsel on major international and regional projects, and is particularly active in M&A. The group has advised leading companies on their listings on the London Stock Exchange and Kazakhstan Stock Exchange, and recently participated in the development of key acts in Kazakhstan's corporate legislation. With substantial experience in establishing joint ventures, M&A, corporate restructurings and management buy-outs, Nurlan Sholanov Recommended leads the corporate practice and also supervises project finance matters. Natalya Braynina Recommended is an expert in corporate and contract issues, while Yuliya Chumachenko Recommended specialises in civil, contract, labour and antitrust law. Testimonials

“What I particularly like about them is that they work on “turn-key” basis, i.e. if you give them work, they quickly return with the draft with all details and risks considered.”

“Great team and prompt turnaround.”

AEQUITAS focuses on complex, multi-jurisdictional commercial disputes including foreign and local commercial arbitration proceedings and cross-border litigation, and regularly acts for foreign investors in disputes with a Kazakh law element. The practice employs two ex-Supreme Court Justices; Aislou Shaikenova Recommended and Violetta Kim Recommended. Valikhan Shaikenov Leading individuals is head of the dispute resolution and arbitration practice, which also includes managing partner Olga Chentsova Recommended, who has represented major global oil and mining companies in claims pertaining to civil, corporate and environmental law; Chentsova also focuses on investment treaty protection issues and matters in the oil and gas, mining and construction sectors. Senior associate Ardak Idayatova Rising stars specialises in civil, contract, land, tax and customs law.

AEQUITAS provides advice to clients across a diverse range of matters including labour and antitrust issues and subsoil user procurement mandates. The group has recently added several Chinese clients to its roster and is regularly instructed on market entry reviews of projects in the renewable energy sector. Managing partner Olga Chentsova Leading individuals and Natalya Braynina Leading individuals jointly lead the practice, and advise clients in the oil and gas and natural resources sectors.

AEQUITAS is recognised for its work handling the construction of major industrial and social facilities, and its involvement in large residential complexes in Kazakhstan; the practice recently assisted with the construction of an artificial island in the Caspian offshore zone, and advised on the construction of oil pipelines and infrastructure facilities. Group co-head Nurlan Sholanov Recommended focuses on renewable energy mandates and has extensive experience in project finance, deal structuring and corporate matters; fellow co-head Olga Chentsova Recommended is also a key contact for corporate-related issues. Counsel Kulyash M. Ilyasova Recommended recently joined from a role at Caspian University; she has experience advising leading oil companies operating in Kazakhstan on complex infrastructure projects.

Testimonials

“The team makes this practice unique.”

AEQUITAS is recognised for its expertise in the construction sector, where it handles the tax aspects of the construction of major industrial and social facilities, infrastructure projects and large residential complexes in Kazakhstan. Olga Chentsova Recommended and Nurlan Sholanov Recommended lead the team.

Arbitration 2021

Valikhan Shaikenov Recommended

Energy 2021

Olga Chentsova Global Elite Thought Leader is a top-notch lawyer who sources recommend thanks to her profound ability when it comes to complex oil and gas law issues.

Natalya Braynina Recommended is adept at representing clients active in the oil and gas industries on a range of matters including acquisitions and litigation proceedings.

Labour Employment & Benefits 2021

Yuliya Chumachenko Recommended

M&A 2021

Olga Chentsova Recommended

Natalya Braynina Recommended

Project Finance 2021

Nurlan Sholanov Recommended

• Outstanding firm: Energy; General business law.

• **Highly Recommended firm: **Oil and gas.

• Recommended firm: Infrastructure.

Managing Partner Dr. Olga Chentsova was named Market-leading Lawyer in the field of Energy and natural resources. Nurlan Sholanov, Partner and Head of Corporate practice, was ranked Leading Lawyer for Corporate and M&A. Natalya Braynina, Partner and Head of Competition & Antitrust practice, was ranked Rising Star Lawyer for Energy and natural resources.

What the team is known for Leading domestic firm, assisting international clients on local law issues affecting cross-border mandates as well as representing domestic clients in local projects. Experienced in project financing, corporate and financial restructurings and M&A projects. Particularly well regarded for domestic corporate and regulatory advice. Its domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan. Strengths The firm is widely regarded as a leading domestic practice, with one source reporting: "If I'm asked to name a local firm which is the best in terms of quality, I'd pick them." Work highlights Provided due diligence support to Knauf Gips Kapchagay related to a proposed acquisition.

What the team is known for Market-leading domestic team representing clients in a broad range of commercial disputes, including contractual and debt recovery cases as well as IP and domestic enforcement work. The team is also frequently engaged to provide Kazakh law expertise in international arbitrations. Regularly acts for international and domestic clients from the natural resources, manufacturing, construction and pharmaceutical sectors. Strengths Sources are quick to note the firm's service-oriented approach to mandates. One describes the team as "responsible, accurate, client-oriented and very pleasant to communicate with." Work highlights Acted for Swiss pharmaceutical company Cilag on a debt recovery dispute against a Kazakh entity.

What the team is known for Established domestic practice, well versed in subsoil-related regulatory issues. Also advises international corporates on additional domestic regulatory and due diligence mandates. Offers corporate structuring and domestic law support to leading international oil and gas corporates. Acts as co-counsel to international law firms on cross-border mandates. Strengths Commentators confirm that it is "a very well-established firm" that handles "good-quality work." Work highlights Provided regulatory law advice to Chevron Munaigas regarding the recently updated subsoil use code in Kazakhstan

Yelena Pestereva advances through the rankings this year. Sources appreciate her client-oriented approach to corporate mandates, one interviewee finding her “very responsive in her explanations” and another noting she is “attentive and reliable.”

Counsel Violetta Kim is a highly respected figure in the market who offers a wealth of litigation experience. She lends her considerable expertise to domestic clients involved in contractual disputes.

Managing partner Olga Chentsova advises international and domestic corporates on commercial disputes. She also provides Kazakh law expertise in international arbitrations, as well as acting as an arbitrator.

Practice head Valikhan Shaikenov acts on domestic disputes as well as international arbitrations. Sources highlight his client-focused approach, with one describing him as “diligent and responsive.” His legislative insight is also noted as a strength.

Managing partner Olga Chentsova is widely recognised for her regulatory insight and market knowledge. As one impressed source explains, “if there are any legal developments or legislative developments she's always involved.”​

Natalya Braynina oversees the practice, lending her support to international clients involved in cross-border mandates. Corporate structuring, transactional mandates and projects due diligence are all areas of experience.

AEQUITAS is recommended in Financial & Corporate and Project Development and is recognized as a leading domestic law firm.

Managing Partner Dr. Olga Chentsova was named Highly regarded Lawyer in the field of Energy and Infrastructure. Valikhan Shaikenov, Partner and Head of Dispute Resolution and Arbitration practice, was ranked Highly regarded Lawyer for Energy and Infrastructure Disputes, Real Estate, Construction and Materials.

AEQUITAS advises on financial lending, transaction regulations and project finance. Yelena Pestereva leads the banking and finance team, supported by project finance specialist Nurlan Sholanov. The firm assisted Gazprombank on a number of separate projects, including amendments to a facility agreement with a foreign borrower. Associate Renata Tkach is noted.

AEQUITAS has key strengths in restructuring, M&A and asset transfers, with notable expertise in labor law. The firm advised Knauf Gypsum in relation to the proposed acquisition of Bias Tech, which owns gypsum factories across Kazakhstan. Lead partner Nurlan Sholanov was supported by a large team that included Natalya Braynina and Yuliya Chumachenko. Braynina also advised a Chinese energy client on issues relating to the acquisition of Kazakh assets, namely a subsoil use company and parent company; senior associate Yelena Manayenko, who has experience in the natural resources sector, supported on this matter.

AEQUITAS's dispute resolution team focuses on cross-border commercial disputes. Practice head Valikhan Shaikenov represented VTB Bank in a $30m dispute over jurisdictional governing and guarantee termination; he was supported by senior associate Lyailya Tleulina on this matter. The pair also acted on a debts dispute in the pharmaceuticals industry. Counsel Violetta Kim represented Auto Linoriss against a state-owned enterprise in a $40m dispute over improper termination of a supply contract for train cars. Senior associate Ardak Idayatova has acted on complex contractual disputes, most notably in the construction industry.

The team at AEQUITAS has a “highly professional approach” and provides “excellent quality of legal services”. Natalya Braynina led a team providing local counsel on a transaction involving the alienation of Kazakhstan assets with respect to six different subsoil use companies. In this matter, Braynina was supported by senior associate and fellow subsoil expert Yelena Manayenko, who clients praise as “very professional”. Olga Chentsova is also highly recommended.

The team at AEQUITAS is best known for advising on the construction of major industrial and social facilities and large residential complexes in Kazakhstan. In addition, the firm regularly provides support to infrastructure projects. Olga Chentsova and Nurlan Sholanov lead the team.

AEQUITAS provides general customs advice, tax consultation services, assistance with regulatory compliance and representation in court. Natalya Braynina is the key contact for tax issues, while Yuliya Chumachenko handles customs matters.

Arbitration 2020 – Valikhan Shaikenov Recommended

Energy 2019

Olga Chentsova Recommended “has considerable experience in handling projects for more than 20 years”​, remark sources who add she is frequently involved in “top-shelf” energy work.

Natalya Braynina Recommended **

Labour Employment & Benefits 2019** – Yuliya Chumachenko Recommended

M&A and Governance 2019

Olga Chentsova Recommended

Natalya Braynina Recommended

Project Finance 2019 – Nurlan Sholanov Recommended

Banking & Finance — Highly Recommended

AEQUITAS is one of the most prestigious firms in the country. Yelena Pestereva heads the firm’s banking and finance practice and advises on financing, cross-border transactions and the regulation of broker-dealer operations.

Capital Markets — Recommended

Competition & Antitrust — Highly Recommended

AEQUITAS remains a consistent performer on antitrust issues in Kazakhstan. Natalya Braynina heads the antitrust practice of the firm and regularly advises global and domestic companies on antimonopoly regulations. This year Braynina spoke at the annual international conference of antitrust legislation of the Republic of Kazakhstan and Eurasian Economic Union regarding the amendments to the Kazakhstan’s antitrust legislation.

Construction & Real Estate — Highly Recommended

AEQUITAS sits atop the rankings for the construction and real estate practice area this year. Olga Chentsova is highly regarded by peers and clients for her considerable experience in advising on large industrial and residential projects.

Corporate / M&A — Outstanding

The M&A practice at AEQUITAS is highly regarded by peers for its role in large cross-border transactions and structurings. The firm advised local and foreign investors on the acquisition of oil and mining companies and oil assets in Kazakhstan. Olga Chentsova, Natalya Braynina and Nurlan Sholanov are leading partners in the practice.

Dispute Resolution & Litigation — Outstanding

Valikhan Shaikenov heads the dispute resolution practice at AEQUITAS and has solid experience in representing clients in local courts and international commercial tribunals. The firm advises on a wide range of commercial disputes, with a focus on labour, tax, finance, intellectual property (IP) and anti-monopoly.

Energy & Natural Resources — Outstanding

AEQUITAS continues to sit atop the energy and natural resources rankings. The firm regularly advises leading companies in the oil and gas, and mining sectors. Olga Chentsova is particularly strong in subsoil use law and practice.

Financial Services Regulatory — Recommended

Insurance — Recommended

Labour & Employment — Recommended

The labour and employment practice at AEQUITAS is secure in its position in the rankings this year. The firm has served clients in the energy and mining, transportation, pharmaceuticals, retail and production sectors in particular. The firm is strong in adapting global corporate employment agreements to meet local legislation requirements. Yulia Chumachenko heads the practice team and has extensive experience in the resolution of labour disputes.

Projects & Infrastructure — Recommended

IT, Telco & Media. AEQUITAS has served clients including the Kazakhstan government, landline and postal operators and international cellular companies. The firm regularly advises on information security and communication licences. It also represents clients in M&A transactions and due diligence of IT and communications companies.

What the team is known for  Leading domestic firm, assisting international clients on local law issues affecting cross-border mandates as well as representing domestic clients in local projects. Experienced in project financing support, debt restructuring and financing regulatory support. Particularly well regarded for corporate law advice and M&A expertise, its domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan.

 Strengths 

One client praises the “great Russian and English language skills, very fast reactions and reasonable pricing” of the firm, considering it “one of strongest in Kazakhstan.”​

Another source highlights “the quality and depth of their advice” as a key strength.

What the team is known for  Market-leading domestic team highly capable of representing clients in a broad range of domestic disputes, including IP, construction and labour cases as well as contractual and corporate disputes. Domestic enforcement proceedings are another area of expertise. The team is also frequently engaged to provide Kazakh law expertise in international arbitrations.

 Strengths 

One commentator applauds on-the-ground support and domestic law insight of the team, saying: “They have been responsive, thorough and logical. Their advice in English has been well written and well structured with clear answers provided.”

Another source describes the firm as “simply superb: commercially sound, always reliable and highly responsive," and adds that the team are “an utmost pleasure to work with.”

What the team is known for  Established domestic practice, well versed in subsoil-related regulatory issues. Also offers corporate structuring and domestic law support to leading international oil and gas corporates. Acts as co-counsel to international law firms on cross-border mandates.

 Strengths 

Sources remark that the lawyers are “​distinguished by their high level of academic insight, their excellent practical experience and their ability to prepare excellent written recommendations.”

Another commentator speaks of the firm's ability to explain local peculiarities to international clients, saying: “They know how we think about things, they're good at explaining local laws, and so they can help us adapt our thinking to work with Kazakh law.”

Valikhan Shaikenov has been called “a respected rising star” in the corporate market. He provides Kazakh law advice and support to international law firms and corporate clients involved in inbound mandates.

Nurlan Sholanov primarily advises domestic and regional corporates and financial institutions. He is experienced in assisting with corporate structuring, governance and regulatory issues.

Yelena Pestereva recently joined the team from the Almaty office of Dechert LLP. She provides corporate structuring support to regional and domestic clients, often in the natural resources sector. Clients consider her “a wonderful specialist” in the field who is “very comfortable and pleasant to work with.”

Counsel Violetta Kim remains an influential figure in the market. She oversees complex projects, advising international corporates on the nuances of Kazakh law, and also acts as an arbitrator in the Kazakh courts. She continues to be “highly regarded” by peers.

Olga Chentsova is considered “a very experienced and resilient lawyer who is a top expert on Kazakh civil law matters.” She oversees the practice, lending her expertise to complex, high-value disputes as well as acting as an expert witness on Kazakh law in international arbitrations.

Valikhan Shaikenov is described as “a very talented young lawyer with skills in deep analysis and problem-solving” by market commentators. He assists corporate clients in domestic disputes as well as international arbitration. Clients praise his market insight and expertise, one source explaining that: “He has a high level of theoretical and practical training, deep knowledge and experience.”

Managing partner Olga Chentsova oversees the practice, offering international and domestic clients her considerable insight and knowledge gained from years of experience on the domestic market. She is best known for her expertise in subsoil regulations.

Natalya Braynina advises on domestic subsoil issues related to corporate and contentious mandates in the oil and gas sector. She is principally instructed by international corporates and law firms in cross-border disputes and projects. She supported Omni Law Firm on a cross-border dispute between the International Bank of Azerbaijan and a domestic subsoil company regarding the pledging of subsoil use rights.

Aequitas is particularly strong on the regulatory aspects of banking and finance, and its team is “very responsive and responsible” and “provides well-structured and comprehensive consultations in limited timeframes”. Practice head Yelena Pestereva has particular expertise in financing transactions and capital markets, and provides “detailed, client-tailored advice”. Project finance specialist Nurlan Sholanov is also a key figure.

Aequitas team has a strong skillset in corporate, commercial and M&A, with additional expertise in labour and employment matters. Managing partner Olga Chentsova heads the practice and is heavily involved in corporate and commercial matters. Corporate specialist Nurlan Sholanov is particularly active in complex public borrowing and restructuring issues and M&A expert Natalya Braynina is particularly strong on natural resources-related matters. Senior associate Larissa Yemelyanova is experienced in contract and labour law. Highlights included advising Hewlett Packard Enterprise on the Kazakh elements of its global merger with CSC and subsequent spin off into DXC Technology.

The “simply superb” Aequitas has expertise in litigation and arbitration, with a strong track record in construction-related disputes. Practice head Valikhan Shaikenov focuses heavily on the real estate and construction sector; arbitrator Klara Mukasheva recently joined from Dentons; and managing partner Olga Chentsova has a significant skillset in international arbitration. Senior associate Ardak Idayatova handles construction disputes. The firm recently advised ExxonMobil on a pre-trial settlement pertaining to a Kazakh company using the client’s logo in an advertisement

Aequitas team is known for its “deep and detailed analysis of legal issues and legislation and the high quality of its drafted documents”. The group’s expertise covers civil, commercial, and environmental and subsoil issues, as well as disputes work in the energy and natural resources space. Practice head Olga Chentsova has extensive experience in oil and gas issues and knowledge of environmental legislation. Natalya Braynina is an expert in subsoil-use contracts. Banking and finance expert Yelena Pestereva advised West Hydrocarbons Commercial Investment on the construction of a Kazakh refinery. Chevron is also a key client.

Aequitas has a strong track record in real estate and infrastructure projects, especially in contentious issues. The firm provides “in-depth expert advice on complicated Kazakh law matters”, with one client commenting that “response times were short and quality of work was high”. Olga Chentsova is experienced in construction and infrastructure projects, and Nurlan Sholanov specialises in project finance and infrastructure projects. Construction disputes specialist Valikhan Shaikenov is also recommended.

AEQUITAS managing partner Olga Chentsova and partner Natalya Braynina are acclaimed as the most recommended Corporate and Energy professionals. Partner Yuliya Chumachenko is recommended as a Labour, Employment & Benefits professional.

What the team is known for Leading domestic firm, assisting international clients on local law issues affecting cross-border mandates as well as representing domestic clients in local projects. Particularly well regarded for corporate law advice and M&A expertise, its domestic market position makes it a popular choice for many international law firms seeking local law advice in Kazakhstan.

Strengths

“Aequitas give us action plans, details and advice.”

“They have really good practitioners with outstanding academic backgrounds.”

What the team is known for Reputed domestic team with extensive experience of representing clients in a broad range of domestic disputes in the oil and gas and services industries. Other areas of expertise include IP, construction and labour disputes and contractual and corporate issues. The team is also frequently engaged to provide Kazakh law expertise in international arbitrations.

Strengths

Sources value the practice for a variety of excellent qualities, one describing them as: “Meticulous, highly responsible, commercially aware, utterly reliable and a tremendous pleasure to work with.”

The team is also praised for its combination of detailed knowledge with responsiveness: “They have a profound understanding of the problem at hand and grasp all aspects thereof. They have good knowledge of procedural issues and ensure seamless and prompt communications.”

What the team is known for Respected domestic practice, well versed in subsoil-related regulatory issues. Also maintains a strong corporate structuring and advisory practice focused on providing domestic law support to leading international oil and gas corporates.

Strengths

“If we think about local players, they’re one of the strongest.”

“They have some strong individuals who have been around longer than most firms.”

Valikhan Shaikenov is noted for his drive and praised for his enthusiasm and “great ideas,” one source confidently predicting that “he’s got a bright future.” He provides local law support on inbound financing mandates as well as assisting clients with corporate structuring.

Head of the corporate practice Nurlan Sholanov assists international corporate clients with domestic structuring, M&A and joint venture matters, winning respect as a “good, very experienced lawyer.”

Former judge Violetta Kim is widely recognized as “the leader of the litigation market in Kazakhstan.” She lends her considerable expertise to high-value disputes where she represents large international corporate clients.

Managing partner Olga Chentsova maintains a strong reputation for a disputes practice of two decades’ standing and continues to act on high-value construction disputes.

Practice head Valikhan Shaikenov has been called “one of the younger stars” in the disputes market. Increasingly visible in the market, acting for both international and domestic clients, he is also characterised as: “A guy you’d go back to. He’s solid, commercially viable and gives realistic advice.”

Managing partner Olga Chentsova is a highly respected figure in the energy market. She combines general oversight of the practice with hands-on involvement in complex subsoil regulatory issues.

Natalya Braynina enters the table this year, supported by the praise of clients who respect her regulatory knowledge and applaud her “very deep understanding of the legal particulars and their impact.” She advises on subsoil issues as well as financing projects in the energy market.

Aequitas prompt and knowledgeable team handles matters including debt restructuring and regulation, such as Valikhan Shaikenov advising Visa on e-payments regulation. Practice head Yelena Pestereva is a recent hire from Dechert Kazakhstan Limited.

Aequitas is a good alternative to international firms’ for the full range of corporate, commercial and M&A work, including corporate governance matters. Yulia Chumachenko is a very professional and responsive partner; she advised Radiometer on distribution agreement for lab equipment. Senior associate Askar Abubakirov advised on local aspects of the business split of Hewlett-Packard. Olga Chentsova leads the practice, while senior associate Larissa Yemelyanova is diligent, devoted and deeply knowledgeable.

Aequitas is a professional and experienced firm, which represents well-known clients in litigation and arbitration. Practice head Valikhan Shaikenov represented Punj Lloyd in a dispute regarding facilities at the Kashagan oilfield. Former Supreme Court judge Aislu Shaikenova joined the firm as a counsel.

Aequitas handles a range of work for financiers, oilfield services companies and miners. Natalya Braynina assisted Schlumberger with the purchase of CA Minerals. Practice head Olga Chentsova handles regulatory matters; Yelena Manayenko re-joined the firm from Norton Rose Fulbright.

Aequitas Valikhan Shaikenov is representing Punj Lloyd in a multifaceted $15m construction dispute, including issues regarding arbitration clauses and bank guarantees. Olga Chentsova often advises on high-end developments; Yelena Manayenko, whose experience includes FIDIC projects, returned to the firm from Norton Rose Fulbright.

AEQUITAS Managing Partner Olga Chentsova and Partner Natalya Braynina are recommended in Corporate and Energy.

What the team is known for Particularly well regarded for corporate law advice and support in M&A. Also commended for its dedicated offering for labour and employment matters. A strong track record representing financial institutions and remains the preferred choice for many international law firms seeking local law advice in Kazakhstan.

Strengths (Quotes mainly from clients) “The team is able to provide great advice and support on various aspects of complex M&A transactions.” “Our transaction was not a typical transaction – a lot of what we did was unprecedented in Kazakhstan – but they were very helpful, very responsible and very responsive.” “They are very responsive and very good at explaining what the issues are. They are also good at meeting deadlines and sticking to their budget.”

What the team is known for Robust disputes team with a broad offering for contentious matters. Areas of experience include labour and employment, IP and construction. Also engaged as Kazakh law experts in international arbitrations.

Strengths (Quotes mainly from clients) “They are exhaustive in their approach. They provide you with every avenue possible and are meticulous about their written work.”

What the team is known for Full-service offering in respect of acquisitions, disposals and development of natural resources assets. Well versed on subsoil-related regulatory issues including construction and environment law. Strengths (Quotes mainly from clients) “I have been impressed by their ability to provide the legal advice we need in the timeframe requested, and in a way that makes sense to commercial clients.”

Nurlan Sholanov leads the corporate practice group at Aequitas. Sources acknowledge him as a “strong and effective lawyer” with a meticulous approach in handling complex mandates.

Valikhan Shaikenov is highlighted as a “very responsive” and “technically sound” banking and finance specialist. Clients consider him to be an “excellent negotiator” and appreciate that he is quick to grasp business objectives. In addition to supervising the firm’s banking and finance practice, Shaikenov also heads up the dispute resolution team.

Yelena Pestereva is recommended as a “confident and very knowledgeable” young lawyer “with a bright future.” Market sources appreciate her deep understanding of the local legislation and ability to keep up to speed with legislative developments. Her areas of focus include financings and capital markets.

Managing partner Olga Chentsova has more than two decades of experience advising on a wide range of contentious matters. She also sits as an arbitrator at various Kazakh and international arbitration courts. Sources highlight her responsiveness as a key attribute.

Violetta Kim, as a former Justice of the Supreme Court, is very well regarded for her knowledge and expertise in this field. She is noted for being an authority on complex civil, labour and administrative disputes.

Olga Chentsova is described by market commentators as a seasoned expert in oil and gas matters and environmental legislation. Clients identify her as a valued source of information on business and regulatory issues in Kazakhstan.

Aequitas has a multi-functional team with a friendly and warm atmosphere that provides all types of legal advice, especially in the oil and gas sector. The firm advised a foreign oil explorer and producer on a programme to use innovative extraction methods. Managing partner Olga Chentsova is a highly experienced lawyer who always understands the situation and the real business needs of clients; she acted as a Kazakh law expert in the famous Ruby Roz Agricol v Kazakhstan investment arbitration. Senior adviser Violetta Kim successfully represented White & Case Kazakhstan LLP in a $1.3m tax dispute. Finance partner Valikhan Shaikenov has a fine mind, even in tangled situations; he advised RBS in a legally unusual recovery of over $20m of debt. Other areas of work include public procurement, construction and employment law.

AEQUITAS Managing Partner Olga Chentsova and Partner Natalya Braynina are recommended in Corporate and Energy.