I&D announced that Dr. Mohamed Ramadan has joined the firm as a partner effective 1st April 2013. Dr. Ramadan is a qualified New York Lawyer and is admitted to practice at the Egyptian Bar of Association and has more than 7 years of work experience in Egypt and the United States. Dr. Ramadan read law at Cairo University and the George Washington University Law School. Dr. Ramadan brings capacity to the firm’s banking, finance and labor Department and Corporate Department.
On another note, Tamima Yehia a partner has left I&D in March 2013.
Read the full article here: http://www.egyptindependent.com/news/mubarak-sons-insider-trading-case-begins-justice-elusive
Working as the legal counsel of one of the largest cement companies in Egypt, I&D succeeded to convince the Cabinet to rectify the error in Paragraph (19) of the State Development Fees Law as amended by Law 114/2008. The law subjected cement producing companies to a 27 EGP fee for each ton of clay they use at a rate of 1.3 tons for each ton of cement produced. this means paying the amount of 35 EGP for each ton of cement produced.
On behalf of our client, we contested the law on the basis that the correct and rational interpretation and reading of the law refers to a “ratio” of one ton of clay per every three tons of cement and not to a fixed amount. This would harmonizing the law with the actual reality since the content of clay per ton of cement averages 30% and not 130% as incorporated in the law.
I&D handled the case in a very unique way as it fought on different and parallel tracks. I&D led long negotiations with the Minister of Finance, suggested the creation of a comprehensive expert committee to study the case from all its different aspects to see the whole picture altogether. The committee included constitutional, administrative, accounting and legal experts. In the meantime, I&D contested the law at the court raising issues relating to its unconstitutionality, inaccuracy and its improper imposition as per the stipulated calculation.
Adopting I&D’s interpretation of the law, the Cabinet finally issued its decree to rectify Paragraph (19) to provide for a 27 EGP fee on every ton of clay at a rate of 1/3 ton for each ton of cement produced. The decree is issued in the Official Gazette dated 26 April 2012, and it shall save our client an amount of 100 Million EGP to be reflected as upside in its budget for this year.
After nine fruitful years working with I&D and with continuos efforts to take the firm forward, Dr. Fatma Salah has been promoted to partner as a continuation to her path with our law firm.
"The partners at I&D have unanimously agreed to promote Dr. Fatma Salah to partner; a recognition of her excellence and dedication to I&D. Her team currently represents major clients in business transactions and contract negotiations in a variety of industries including oil & gas, energy, construction, banking and finance, international trade, as well as aviation and airline," says Dr. Bahieldin El Ibrachy, I&D's managing partner.
Another key promotion was Ghada Abdel Aziz's to Associate, only one year after joining I&D with a proven record of extensive hard work, making her an asset to our team.
As emotional and challenging as it was to revamp I&D’s look after almost 8 decades of heritage, we have finally come to terms with and love our new logo and branding.
As our market continues to grow and demands day-to-day meticulous attention to clients' needs, we are always on the look out to expand I&D's team of lawyers and partners adding on to the expertise offered to the different sectors.