Ashraful Hadi is a Barrister having been called from the Hon’ble Society of Lincoln’s Inn, U.K. He is one of the leading members of the Bangladesh Supreme Court and currently serves as an elected member of the Bangladesh Supreme Court Bar Association. He has over 18 years of experience advising clients in litigation, transactions, and dispute resolution matters. He has worked at Eversheds, one of the leading law firms in the U.K. and was a Partner at Dr. Kamal Hossain & Associates. Chambers & Partners, Asia Pacific Legal 500 (2018) recognized Mr. Hadi’s expertise in Corporate & Finance matters:
“Ashraful Hadi is recognized for his corporate experience. His practice involves assisting clients from the telecoms, energy and aviation industries. Peers hold him high esteem for being “good at negotiations” and “strong in litigations”.
In the context of disputes, he has been counsel in a number of reported litigations in the Bangladesh Supreme Court, one of which also resulted in amendment of the Bangladesh Labour Act, 2006 by the Parliament. He extensively deals with revenue and taxation disputes, admiralty disputes, constitutional and regulatory as well as commercial disputes. He has also been lead-counsel in a construction arbitration, co-counsel in an insurance dispute, an arbitration on contract dispute before Asian International Arbitration Centre in Kuala Lumpur, an international trade dispute, and an ICC arbitration involving the Bangladesh energy sector.
In respect of transactions, he has advised as lead counsel in a number of merger and acquisitions of power generation companies, listed companies, telecommunications operators, and consumer goods producers. He advised leading international financial institutions and development partners on regulatory, compliance, trade finance, cross border lending on aircraft and ship sale financing, as well as employment law issues for clients including Citibank NA, JP Morgan Chase, Standard Chartered Bank, Asian Development Bank, and International Finance Corporation. He has advised in different legal capacities large scale infrastructure projects including bridge construction projects, container terminal and port operation projects, LNG/FSRU projects, solar power projects, power generation projects and other large transactions involving aircraft finance and ship finance. He has extensively advised on of securities law, involving bond issue, IPO issue, etc. He has advised on multiple international bond issue relating to raising capital by local banks for compliance with Basel-II. He has worked in Eversheds LLP, a leading law firm in the UK and assisted in international maritime dispute in London Maritime Arbitrators Association. He has collaborated with most of the leading international law firms on different legal issues, transactions as well as employment & labour law compliance issues. He is currently serving as an Independent Director in the board of directors of Marico Bangladesh Limited, an international leading coconut oil and consumer goods manufacturing company.
RECOGNITIONS
Chambers & Partners, Asia Pacific Legal 500, Published 2018, described in Corporate & Finance: “Ashraful Hadi is recognized for his corporate experience. His practice involves assisting clients from the telecoms, energy and aviation industries. Peers hold him high esteem for being “good at negotiations” and “strong in litigations”.
REPORTED CASES
1. The Industrialization Fund for Developing Countries v. Northern Corporation Limited 30 BLD (HCD)(2010) 623 – Arbitration law
2. Sabnam Vegetable Oil Industries v. Commissioner of Customs (Imports) and others : 15 BLC (HCD) 444
3. Stratus Construction v. Roads & Highways Bangladesh: 17 BLC (2012) 662 – Arbitration law
4. Bangladesh Oil Gas and Mineral Corporation (Petrobangla) vs. Saipem S.P.A: 10 BLC 140
5. Md. Elias Brothers (Pvt.) Ltd. Vs. Bangladesh: 16 BLC 327
6. Sirajul Islam and others Vs. Bangladesh & Others: 60 DLR 79
7. Coats Bangladesh Limited vs. National Board of Revenue and others: 21 BLC (2016) 354
8. Proshika Manobik Unnayan Kendra vs. Commissioner of Taxes, Dhaka: 69 DLR (2017) 218.
9. Mehdi Hassan (Md) and another vs. Government of Bangladesh: 19 BLC (2014) 472
10. Chief Election Commissioner and others vs. Comptroller and Auditor General of Bangladesh and others: 57 DLR (2005) 113
MAJOR TRANSACTIONS/ENGAGEMENTS AS COUNSEL
1. Acted for ADB in relation to debt financing transaction of BRAC Bank Limited.
2. Acted for ADB in relation to preparing regulatory compliance memo on supply chain financing.
3. Assisting in financing project of dredging project for Payra Port.
4. Assisting in global M&A project by a leading international food manufacturer.
5. Assisting in financing FSRU project of LNG terminal operator.
6. Acted as Bangladesh counsel in conducting legal due diligence and advising in upstream restructuring of power generation companies operating in Bangladesh and restructuring, acquisition of shares of several FMCG manufacturing companies.
7. Acted as Bangladesh counsel in advising in relation to insurance claim relating to an incident in a coal producing company.
8. Acted as counsel for lending companies for financing power generation companies in Bangladesh.
9. Acted as counsel for a domestic privatized banking company in litigation in the Supreme Court of Bangladesh
10. Provided legal advice and assistance to world’s leading IT companies, including, Facebook, Cisco Systems B.V., Oracle, Sun Microsystems, Hewlett Packard, etc. in relation to their business transactions in Bangladesh.
11. Provided legal advice and assistance in drafting and setting up charitable trusts for a leading international business entrepreneur so as to provide free medical facilities, food, shelter
12. Provided legal advice and assistance to John Hopkins University of the U.S.A. in setting up not for profit company in Bangladesh for providing medical facilities
13. Provided legal advice and assistance in setting community charitable trusts for providing charitable services to the community
14. Provided legal advice and assistance to world’s leading fashion brand and sourcing companies for Zara, Next, Marks & Spenser, Walmart, JC Penney, Cotton Group, etc in relation to their sourcing business and commercial disputes in Bangladesh
15. Provided legal advice and assistance to numerous local and multinational financial institutions and insurance companies on different aspects of regulatory, financial and tax matters and in relation to setting up joint venture business enterprises in Bangladesh
16. Provided legal advice and assistance to Asian University of Women, one of the leading universities in the South Asia established for the women, in respect of different legal and regulatory issues
17. Provided legal advice and assistance to The City Bank Limited acting as Bond trustee relating to variable rate subordinated convertible bonds issued by BRAC Bank Limited for raising capital
18. Counsel for advising on due diligence questionnaire for JP Morgan Chase Bank N.A. in relating to creation of security interests by local Bangladeshi banks and its enforcement
19. Counsel for The City Bank Limited, the lead arranger and security agent in relation to syndicated financing to a ceramics industry
20. Counsel for The City Bank Limited, the lead arranger and security agent in relation to syndicated financing to a petro-chemical products industry
21. Counsel for an international leading bank advising it in relating to setting up and operating a banking institution in Bangladesh in joint venture with other strategic investors
22. Counsel for Citibank N.A. advising on legal implications relating repo and reverse repo transactions of government Treasury Bills
23. Counsel for a leading international bank relating to providing credit facilities to the offshore banking unit of a local bank
24. Counsel for Citibank N.A. in setting up investment bank in Bangladesh
25. Counsel for a multinational bank in respect of transfer of business and related restructuring of human resources
26. Counsel for an international container terminal operator in respect of its bid for supply, operate and transfer (SOT) contract for the largest container terminal in Bangladesh
27. Counsel in conducting legal due diligence on regulatory and enforcement issues concerning banking, securitization and capital market
28. Counsel in advising and conducting litigation on behalf of several banks and non-banking financial institutions regarding recovery of loans
29. Co-counsel in defending members of the board of directors of several local banks in relation regulatory action concerning composition of the board
30. Advising Bangladesh Association of Banks, an apex association of the leading investors in different banks, in relation to the legal aspects of draft amendments to the Bank Companies Act proposed by the regulator
31. Advising foreign investors on the structure of business establishments and taxation matters, assisting in setting up 100% foreign owned companies engaged in financial services, industrial, Information technology-based industries, energy companies, joint venture companies, branch offices and liaison offices.
32. Advised a multinational bank in respect of transfer of its retail banking and wealth management business and related restructuring of human resources (2011-present).
33. Advised a telecom operator in respect of USD 145 million backstop financing facilities for renewal of its 2G mobile operator licence (2011-12).
34. Advised the issue manager and lead underwriter in respect of preparation for IPO of a telecom operator.
35. Advised a Malaysian company in a project for construction of the Padma Multipurpose Bridge, the proposed largest infrastructure project in South Asia.
36. Advised a multinational bank in providing finance for construction of a five-star hotel in Dhaka.
37. Advised a Danish terminal handling company in participating a bid for contract on Sell, Operate and Transfer (SOT) basis in relation to a container-handling terminal at Chittagong.
38. Counsel for a Dubai-based bank in a Murabaha transaction with a Bangladeshi bank involving financing of US Dollars 100 million.
39. Counsel in a transaction involving potential sale of the entire banking business of a foreign bank operating in Bangladesh.
40. Conducted hearing on constitutional law issues relating to appointment process in the public service and represented wards/children of freedom fighters’ before Writ Bench in relation to appointment process in the public service.
41. Conducted pro bono hearing on constitutional law issues representing retired teachers against their withholding of pension and retirement benefits.
42. Conducted hearing in constitutional law matter relating to excessive charge of admission fees by some schools in Dhaka, in violation of fundamental right to education.
43. Assisted and acted as one of the counsels in a litigation involving independence of local government and constitutional issues.
44. Represented and acted as counsel for one of the leading NGO’s relating to 6 points disclosure by the candidates for Parliamentary Election.
45. Assisted the lead counsel in a constitutional matter relating to the issue of Doctrine of Political Question.
46. Conducted several admiralty suits as counsel relating to different types of maritime disputes.
OTHER ENGAGEMENTS
· Acting as Independent Director in the Board of Directors of public listed company Marico Bangladesh Ltd, a large multi national company and one of the world’s largest coconut oil manufacturing industry including FMCG.
· Member, Tariff & Taxation Sub-Committee, Metropolitan Chamber of Commerce and Industries (MCCI).
· Member, Executive Committee, Supreme Court Bar Association 2018-2019, Bangladesh.
CONFERENCES AND SEMINARS
· Guest Speaker on “Security Documentation: How to better protect Bank’s interest” in a Workshop organized by Shahjalal Islami Bank Limited for its officers.
· Guest Speaker on “Legal Aspects of Guarantee and its enforcement” in a Workshop organised by Citibank, N.A for its officers.
AFFILIATIONS/MEMBERSHIPS
· The Honourable Society of Lincoln’s Inn, United Kingdom
· Supreme Court Bar Association, Dhaka, Bangladesh
· Dhaka Bar Association, Dhaka, Bangladesh