The Legal 500


Share this page


A difficult year for Perú, with the country’s key mining and oil-and-gas sectors hard hit by rock bottom prices, was compounded by the advent of the country’s elections; infamously difficult to predict, the process lived up to its billing, returning the narrowest of majorities -after a recount- for centre-right technocrat and ‘safe pair of hands’, Pedro Pablo Kuczynski, in what many lawyers regarded as the best news of the year to date. Certainly the first six months had seen corporate -and consequently legal- activity relatively depressed. Much of the transactional activity was driven by disinvestments, not least Brazilian holdings in Peru –notably construction and infrastructure concession contracts and oil-and-gas participations– as both the economy and the corruption scandal that have engulfed Peru’s Amazonian neighbour claimed more victims. The mining sector too, has been impacted hard by the downturn in primarily Asian demand and the consequent collapse of prices – many of the juniors previously active in the country have been among the companies that have caused renewed activity in the bankruptcy and insolvency sector. However, one bright spot has been continued infrastructure development.

The Peruvian market is beginning to become somewhat accustomed to a significant annual event disrupting the local legal topography. In 2014 it was Baker & McKenzie’s association with Echecopar; in 2015 it was the arrival of Garrigues; and in 2016 it has been the aterrizaje –the landing– of the former PPU, now Philippi Prietocarrizosa Ferrero DU & Uria. The means of this market entry, enabled by the forging of a suitable ‘candidate’ via the merger of well-known local players Ferrero Abogados and Delmar Ugarte, should give those elsewhere in the region –notably México– pause for thought: the lack of a suitable target firm is, it suggests, no longer the ‘barrier to market entry’ it once was. And while the proof will be in Ferrero DU’s market performance over the next few years, on paper at least, the synergies of the merger look strong.

As yet though, the key market players remain unchanged: Miranda & Amado and Rodrigo, Elías & Medrano, Abogados are the undoubted full-service powerhouses, while Estudio Echecopar member firm of Baker & McKenzie International is increasingly regaining market position after its transition into being part of the regional behemoth. But quality abounds in the Peruvian market and local firms Payet, Rey, Cauvi, Pérez Abogados and Rebaza, Alcázar & De Las Casas Abogados Financieros, particularly in the corporate/finance sectors, Muñiz, Ramírez, Pérez-Taiman & Olaya Abogados as a full service player, and Hernández & Cía. Abogados are all more than willing to seize market share from the leading players. Foreign players also wait in the wings: Garrigues continues to build the capability of its local office and the notion of the arrival of a DLA Piper LLP (US) or a Dentons (which both already have offices in Colombia and México), let alone other candidates (Cuatrecasas, Gonçalves Pereira and CMS are two freqently mentioned names), is not to be overlooked. Were there any doubt as to the attractiveness of the Peruvian market –ever more so following PPK’s whisker-thin electoral victory and the macro-economic direction it secures– one need only look to the opening of insurance specialists Kennedys Peru with former Osterling Abogados’ lawyer, Marco Rivera Noya, as managing partner: it is not just full-service players that have Peru in their sights. Other interesting, although less immediately visible developments include the emergence of a dispute resolution network that sees local boutique Reggiardo & Grau enter a loose network with Chile’s Ovalle Ossa Gazzana & Bulnes Abogados, Colombia’s Suescún Abogados and México’s Malpica, Iturbe, Buj y Paredes, S.C..

Nor is high quality service limited to larger firms; on the contrary the market is increasingly populated by both mid-sized and smaller firms gaining position in a market that continues to grow both in size and sophistication.

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Korea strengthens taxation on multi-national enterprises in 2017

    On July 28, 2016, the Ministry of Strategy and Finance (“MOSF”) announced the annual proposal to amend the tax law for 2017 (the “Proposal”). The Proposal was submitted to the National Assembly on 2 September 2016.
  • Protecting the ‘Little-Guy’ in Distributorship Arrangements in Korea

    - Enforcement Decree to the Fair Retail Agency Transactions Act
  • Single Continuous Infringement Concept and the Practice of the Turkish Competition Authority

    The concept of a single continuous infringement (" SCI ") enables competition authorities to consider a series of agreements or conducts that have the same objective to distort competition in the market as one single continuous infringement. Similar to the approach in the European Union, the Turkish Competition Authority ( Authority ) also considers this concept while assessing a case under Article 4 of Law No 4054 on the Protection of Competition of 13 December 1994 ( Law No 4054 ), which is akin to-if not the same as-Article 101 of the Treaty on the Functioning of the European Union ( TFEU ).
  • Broader Interpretation Boosts Anti-Avoidance Rules

    Businesses seeking to structure cross-border transactions in ways that help them avoid paying tax are finding it more difficult as authorities worldwide step up information sharing. One such example is the Global Forum on Transparency and Exchange of Information for Tax Purposes, which is driven by the Organization for Economic Co-operation and Development and has 135 members. The cabinet recently approved Thailand's membership in the forum.
  • Austria: Amendments to Gas Market Model Ordinance

    The Gas Market Model Ordinance plays a major role in the Austrian gas market, as it regulates network access and the capacity management and balancing system in Austria's three market areas: the east, Tyrol and Vorarlberg. read more...
  • [South Korea] Data Privacy Legal Update

    Proposed Amendment to the Enforcement Decree of PIPA
  • Applications under the Overseas Investment Act 2005 - a practical update

    New Zealand’s overseas investment regime has been in the media spotlight in recent times. While lobbying organisations and political parties closely scrutinise the decisions of the Overseas Investment Office ( OIO ), those in the investment community have raised concerns that the regime is overly burdensome and time consuming. Against this background, there have been a number of changes in process and regulation, with further changes in the pipeline, aimed at ensuring the regime is fit for purpose. This article provides a brief overview of the regime and then looks at some of the recent and impending developments.  
  • Arbitrators’ Liability: Austrian Supreme Court Reconfirms Strict Standards

    One of the main advantages of arbitration vis-à-vis state court litigation, is that the parties are free to choose independent and highly specialised experts to decide their cases. Yet, if these experts negligently (or even deliberately) violate the duties that come with the acceptance of the appointment, the issue of liability arises. read more...
  • On Gifts, Courtesies and Other Business Amenities

    Nurlan Sholanov Partner, AEQUITAS Law Firm
  • Promissory Note Holders Not Bound by Arbitration Clause in Underlying Contract

    This update discusses the recent case of  Rals International Pte Ltd v Cassa di Risparmio di Parma e Piacenza SpA  [2016] SGCA 53 where the Singapore Court of Appeal upheld the decision of the High Court that the assignee’s claim based on a number of promissory notes did not fall within the scope of the arbitration agreement in the underlying Supply Agreement. The assignee of such notes was therefore free to litigate in the courts.

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to