Kosta Legal

Managing Partner: Azizbek Akhmadjonov

Number of Partners: 5

Number of Lawyers: 30

Languages: English, Russian, Uzbek

Founded in 2015, Kosta Legal is a results-oriented law firm offering practical and cost-effective solutions tailored to our clients' commercial goals. The firm is a trusted partner for financial institutions, including regional development banks, government authorities, Fortune 500 companies and other corporations, guiding clients through their most complex projects in Uzbekistan. A personalized approach and commitment to professional development keep the team at the forefront of legal practice, enabling it to deliver exceptional service in an ever-evolving landscape.

• Banking & Finance
• Corporate
• Dispute Resolution
• M&A and Competition
• PPP and Infrastructure
• Real Estate and Construction

Banking & Finance:

The Banking and Finance practice advises on a wide range of financial products, including corporate, acquisition, and asset financing, syndicated and bilateral loans, financial leases, Islamic finance, and export credits. The team is highly experienced in capital markets transactions, including Eurobonds, debt offerings, and AT1 issuances. The practice is also active in project finance in industries like power generation, renewables, and other infrastructure.

• Advised Uzbek Industrial and Construction Bank on Central Asia’s first AT1 Eurobond issuance (USD 300 million).
• Advised the Asian Infrastructure Investment Bank on the provision of a USD 100 million financing to Uzbektelecom JSC, the country’s largest telecommunications operator.

Practice head: Shukhrat Yunusov

Corporate:

Kosta Legal’s Corporate practice offers comprehensive legal services to businesses across all stages of their lifecycle, from formation to growth, governance, and exit strategies. We advise on a wide range of corporate matters, including company structuring, corporate documents, shareholder agreements, corporate governance, compliance with local regulations and employment aspects. Our lawyers are experienced in all types of commercial agreements.

• Acted for a range of foreign investors on market entry into Uzbekistan, providing strategic advice on corporate structuring, company registration, and full-scope legal support

Practice head: Vazgen Grigoryan

Dispute Resolution:

The Dispute Resolution practice is renowned for its expertise in handling complex commercial disputes, representing clients in courts at all levels, including the Supreme Court and arbitration tribunals. The team provides pre- and post-dispute advice, assisting with the recognition and enforcement of foreign arbitral awards and judgments. Tailored strategies help clients effectively resolve conflicts while ensuring the enforcement of favourable decisions.

• Successfully represented a local telecom operator in a dispute with state tax authorities regarding unpaid taxes amounting to USD 15 million
• Successfully represented a client in the recognition and enforcement of a foreign arbitral award in a dispute with a local oil and gas company concerning a debt of USD 78 million

Practice head: Vazgen Grigoryan

M&A and Competition:

Kosta Legal’s M&A and Competition practice provides advice on all aspects of mergers, acquisitions, and joint ventures, as well as handles deals structuring, due diligence, regulatory approvals, and post-transaction integration, ensuring seamless execution and minimizing risk. Competition law specialists offer comprehensive advice on antitrust compliance, public procurement and regulatory issues, as well as represent clients before regulatory bodies like the Antimonopoly Committee.

• Advised Global South Utilities (UAE) on multimillion-dollar acquisition of Yashil Energiya LLC, a fully integrated renewable energy developer

Practice head: Maxim Dogonkin

PPP and Infrastructure:

The PPP and Infrastructure practice is at the forefront of advising on high-profile, complex projects in Uzbekistan, supporting clients from project development and financing to operation and completion. With extensive experience advising a diverse range of stakeholders - including sponsors, financial institutions, multilateral organizations, construction companies, and public sector bodies - we specialize in navigating the complexities of PPP and infrastructure projects across critical sectors such as energy, water and wastewater management, utilities, and social infrastructure.

• Advising the ADB and Uzbek Government on the Namangan Wastewater Treatment Plant PPP project, the first PPP project in the water supply sector in the country
• Advising AMEA Power on key agreements for renewable energy projects (1 GW wind and 300MWh BESS) in Uzbekistan

Practice head: Nail Hassanov

Real Estate and Construction:

Kosta Legal’s Real Estate and Construction practice offers comprehensive, commercially-focused legal services across all aspects of real estate and construction projects in Uzbekistan, advising an impressive client roster, including local and international investors, lenders, developers, and construction companies. The team guides clients through every phase of a real estate transaction, from legal due diligence and structuring to financing, contract negotiation, property transfers and management. The firm has extensive experience in land allotment/acquisition, licenses and permits, as well as construction and commissioning.

• Advised FHL Group in connection with a premium marble supply and installation agreement with an Uzbek state-owned EPC contractor for the Center of Islamic Civilization in Uzbekistan
• Advised the Government of Uzbekistan, working in close coordination with the Foreign Investors Council under the President, the Ministry of Investments, Industry and Trade, and the EBRD, on the drafting of the Regulation on the Procedure for Reservation of Lands for Public Needs

Practice head: Azizbek Akhmadjonov