Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Nithya Partners is a high profile banking and finance firm with particularly expertise on structured work. One client commented: “We work with all the firms in the country, depending on the product. For more structured work, and loans or syndicated loans, we prefer this firm.” An example of the firm’s work in capital markets was its advice to joint lead managers Bank of America Securities, HSBC and the Royal Bank of Scotland on a Reg S/ 144A bond offering by the government of Sri Lanka. Partner Naomal Goonewardena worked on this transaction, which completed in October 2010 and was valued at US$1 billion.

Nithya Partners is regarded as a “premier financial and corporate firm” by peers and clients alike. Its corporate practice includes top class lawyers such as Arittha Wikramanayake, who is regarded by clients as a “very well known source of information and guidance”. Wikramanayake and Thanuja Jayawardene led the firm’s team advising Renuka Holdings on its acquisition of shares in Shaw Wallace Marketing and Pioneer Warehousing from Pioneer Homes. This transaction was valued at LKR1 billion (US$9 million) and was completed in March 2011. One client notes: “After working with the top firms in the country, I prefer to go back to this firm overall.”

Although better known for its banking and finance expertise, Nithya Partners is an elite firm across many areas in Sri Lanka, with a peer noting: “Its litigation practice is quite good and the lawyers are very well known for disputes work.” Partner Chanaka de Silva heads the practice, with one client saying: “He’s good at what he does and very reliable.” The team advised Litro Gas Lanka, formerly known as Shell Gas Lanka, in an arbitration action where it requested an order of specific performance with the Consumer Affairs Authority. The arbitration was withdrawn in 2011 with the government’s purchase of the client from Shell, but it marked the first time an arbitration action was taken against the Consumer Affairs Authority. The transaction was valued at LKR1.7 billion (US$15.4 million).