Twitter Logo Youtube Circle Icon LinkedIn Icon

Peru

Peru > Law firm and leading lawyer rankings

Editorial

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.

The In-House Lawyer

International comparative guides

In association with a leading international law firm, Legalease are producing a series of online country comparative legal guides, designed to give the in-house community greater insight to the law and regulations in unfamiliar jurisdictions.

International comparative guides

Giving the in-house community greater insight to the law and regulations in different jurisdictions.

Select Practice Area

International comparative guides

Giving the in-house community greater insight to the law and regulations in different jurisdictions.

Select Practice Area

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
  • Bulgaria: Opening the gas market for foreign traders!

    Most recently, the Bulgarian Energy Regulator has taken significant steps towards the full liberalisation of the natural gas market: In December 2016, the Bulgarian Energy Regulator adopted legislative amendments to the Rules for Trading of Natural Gas ( Правила за търговия с природен газ , " Trading Rules ") and the Rules for Access to the Gas Transmission and/or Gas Distribution Networks and the Natural Gas Storage Facilities ( Правила за предоставяне на достъп до газопреносните и/или газоразпределителните мрежи и за достъп до съоръженията за съхранение на природен газ , " Access Rules "). Moreover, it adopted new Rules for Balancing of the Natural Gas Market ( Правила за балансиране на пазара за природен газ , " Balancing Rules "). read more...
  • When Arbitration Meets Insolvency in Montenegro - Can They Coexist?

    Even at first blush, it is apparent that arbitration and insolvency make strange bedfellows.
  • Hungary: Registration Fees for Company Establishment Abolished

    In an aim to simplify state administration and support economic growth, the Hungarian Parliament adopted a new law abolishing the registration fee and the publication cost for incorporating limited liability companies (" LLC ") ( korlátolt felelősségű társaság ), limited partnerships ( betéti társaság ), general partnerships ( közkereseti társaság ), and sole entrepreneurships ( egyéni cég ). The new law becomes effective on 16 March 2017. read more...
  • SyCipLaw TMT Bulletin: Philippine Central Bank Issues New FinTech Rules

    The Bangko Sentral ng Pilipinas (BSP) (the Philippine Central Bank) has issued two new circulars that will be of interest to companies engaged in remittance services, e-money, digital currency, and other fintech businesses. Both circulars amend portions of the BSP Manual of Regulations for Non-Bank Financial Institutions.
  • IFLR: “Philippines: Foreign equity ownership decision”

    The March issue of the International Financial Law Review ( IFLR ) includes an international briefing article by SyCipLaw partner  Jose Florante M. Pamfilo  entitled “Philippines: Foreign equity ownership decision”. The article discusses the Philippine Supreme Court decision on the case of Roy v. Herbosa (GR no. 207246) to invalidate the Securities and Exchange Commission (SEC) Memorandum Circular no. 8-2013 (MC 8-2013) on the guidelines on compliance with the Filipino-foreign ownership requirements prescribed in the Philippine Constitution and/or existing laws by corporations engaged in nationalized and partly nationalized activities.
  • New regulation on unit-linked life insurance in Hungary

    Policyholders of unit-linked life insurance products pay an agreed sum for the unit-linked insurance to the insurance company, as a regular premium, or in one lump sum. These payments cover the life insurance component as well as the investment, administrative costs, contracting fee and the commissions. The "total cost charged" ("TCC") is an indicator – calculated in line with the rules of Hungarian insurance regulations – showing all costs charged on life insurance policies having a savings element, reflected as a percentage value. The regulation of the TCC in Hungary has been amended effective 1 January 2017. read more...
  • Hungary: Increase of Minimum Sale Price May Affect Retail NPL Transactions?

    On 7 March 2017, the Hungarian parliament adopted a law that increases the minimum sale price of a residential property in the enforcement procedure from the current 70% of its market value to 100% (market value to be understood as the price set by the appraisal of the bailiff), provided that (i) the claim to be enforced stems from a consumer contract; (ii) the real property is the debtor's only real property; and (iii) the debtor resided in that real property for at least six months prior to the initiation of the enforcement procedure.   read more...
  • European Court of Justice rules for the first time on discrimination based on belief

    The Court of Justice confirms a policy of neutrality can justify discrimination based on belief.
  • RECENT COURT ORDER ON GOOGLE RELATED TO PROTECTING INFORMATION RIGHTS

    Korean appeals court orders Google to disclose to Korean users what personal information Google passed to U.S. government.
  • ECJ CASE C-28/26 - RECOVERABILITY OF INPUT VAT OF A HOLDING COMPANY

    Case C-28/26 - Examines the right of a holding company to deduct input VAT on services acquired in the interest of its subsidiaries where those services are offered to its subsidiaries with no consideration.

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