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Benjamin Paine

Benjamin Paine
Managing Partner

Benjamin is the founder of Paine Stevens.  His practice focuses on cross-border financing, corporate and commercial transactions.

Since leaving the City of London in 2000 Benjamin has worked for international law firms in Turkey, Azerbaijan and Kazakhstan.  He moved to Georgia to establish Paine Stevens in September 2012.  

Professional Qualifications

Admitted as a solicitor in England and Wales, 1995.


BA (Hons) Russian, University of Exeter, 1991
Common Professional Examination, Coventry University, 1992


Law Society of England and Wales
International Bar Association
Association of International Petroleum Negotiators
Chartered Institute of Arbitrators (MCIArb)
British German Jurists Association



Contact Details

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel:     +995 32 290 3211
Fax:    +995 32 290 3291

Representative matters

  • Advised on the sale of the Oltan group of companies, Turkey's largest hazelnut processor and exporter, to Ferrero.
  • Advised Asian Development Bank in relation to its $50 million MSME facility for AccessBank CJSC in Azerbaijan.
  • Advised Asian Development Bank in relation to its $50 million MSME facility for JSC TBC Bank in Georgia.
  • Advised EBRD on its approximately $40 million loans to JSC Pavlodarskiye Teploviye Sety and LLP Pavlodarskiye Teploviye Sety in respect of the modernisation of the city domestic heating systems in Pavlodar and Petropavlovsk in northern Kazakhstan.
  • Advised Asian Development Bank on its $10 million financing of CJSC Kyrgyz Investment and Credit Bank, ADB’s first private sector financing in the Kyrgyz Republic.
  • Acted for Amsterdam Trade Bank on its $50 million facility for the secured financing of construction at Almaty International Airport in Kazakhstan.
  • Advised WestLB AG on a $65 Million sovereign loan for construction of the Gaziantep-Birecik motorway project in Turkey.
  • Acted for Finansbank A.Ş. in relation to the $46 Million financing of the Sivas-Malatya gas pipeline.
  • Advised LLP Refinery Company RT and JSC NC KazMunayGas in relation to a $300 million loan from VTB Capital plc to Refinery Company RT as borrower, guaranteed by NC JSC KazMunayGas.
  • Acted for CNPC and Kazakstan-China Pipeline LLP on a $1.18 billion loan facility from ING and ICBC for construction of the Kenkiyak-Kumkol oil pipeline.
  • Acted as English law counsel to Kazakhstan oil producer JSC Turgai Petroleum on the commitment increase under its syndicated loan facility arranged by Bank of China to US$450 million.
  • Acted for WestLB AG in relation to a EUR 22.5 Million pre-export finance facility for white goods manufacturer Vestel in Turkey.
  • Advised HypoVereinsbank AG on the $30 Million financing of the construction of two oil pipelines for Azertrans in Azerbaijan.
  • Acted for EBRD in the $10 million secured refinancing of the Landmark office buildings in Baku, Azerbaijan.
  • Advised CapAsia on the $50 million investment by its Islamic Infrastructure Fund in JSC Central Asian Electric Power Corporation in Kazakhstan.
  • Advised a Hong Kong company on its proposed US$640 million acquisition of a medium-sized Kazakhstani oil company.
  • Advised EBRD on its $45 million subscription for shares in the agricultural JSC Holding Kazexportastyk, its first equity investment in the Kazakh agricultural sector.
  • Acted for EBRD on its EUR46 million equity investment in Central Asian Electric Power Corporation JSC in northern Kazakhstan.
  • Advised EBRD on its subscription for shares to acquire a 25.28% shareholding in Azerdemiryolbank in Azerbaijan.
  • Advised EBRD on its subscription for a 25% interest in the dairy company Milk-Pro LLC in Azerbaijan.
  • Acted for EBRD on the acquisition of approximately 10% of the placed shares in JSC Garadagh Cement in Azerbaijan.


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