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Arnold & Porter

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Raul Herrera

Arnold & Porter


Latin America: International firms

Banking and finance

Within: Banking and finance

Arnold & Porter operates a dynamic Latin America banking and finance practice, driven by steady pipeline of regulatory and transactional engagements. Having advised many of the region’s central banks over many years, the Latin America team has outstanding regulatory framework credentials in the region, and its global financial services regulatory credentials were further reinforced by the arrival of former US Senator Christopher Dodd as senior counsel in January 2018; Dodd was a principal architect of the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act. The Latin America practice has also seen growth in securitisation, derivatives and structured finance mandates since the firm merged with Kaye Scholer in 2017. Clients include a number of large and medium-size financial institutions in the region, including Itaú BBA and Itaú Unibanco, Banco do Brasil, Central Bank of Brazil, Banco Votorantim (Brazil), Banco Credit Suisse (Brazil), Bradesco, Banco de Credito del Peru and Banco de Costa Rica. It advised the Republic of El Salvador on a $99m credit agreement with Credit Suisse and also advised Grupo Energía Bogotá, the electrical power and natural gas utility company, on a $749m unsecured credit facility. Whitney Debevoise has outstanding credentials in regulatory issues and financings, having worked with a number of central banks in the region over the years; he is also increasingly active in infrastructure financings in Central America. Gregory Harrington has a fine record in Brazil where he has advised on a number of regulatory issues and continues to advise Brazilian lenders on export finance transactions. Panama native Raul Herrera has an established record in project finance transactions for multilateral and bilateral agencies, parastatal agencies and project sponsors. Neil Goodman and Arturo Caraballo are also key members of the team. All partners are based in Washington DC.

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Capital markets

Within: Capital markets

Arnold & Porter continues to stand out for its sovereign issuance expertise; it remains the primary issuer counsel to a number of sovereigns and sub-sovereigns, including Republic of Colombia, Federative Republic of Brazil, Republic of Panama, Republic of El Salvador, Republic of Costa Rica, Bolivarian Republic of Venezuela and Republic of Honduras. Moreover, its merger with Kaye Scholer in January 2017 has enabled it to expand its structured finance and securitisation practice in Latin America. Outside of the sovereign space, the firm is gaining traction in representing bondholder groups in corporate restructurings and in advising Latin America-based emerging growth companies looking to raise funds through the capital markets. In 2017, the firm advised the Republic of Colombia on a series of capital markets offerings, including three bond issuances with an aggregate value of $3.9bn. It also advised the Republic of Panama on its $3.01bn shelf registration statement. Fluent in Portuguese and Spanish, Whitney Debevoise is a leader in sovereign issuances, historically acting for the likes of Brazil, Argentina, El Salvador, Honduras, Belize and Panama; he has represented Brazil on every sovereign issuance from 1988 to 2016. Neil Goodman has a longstanding connection to Venezuela, where he has represented the state in numerous capital markets offerings, as well as state-owned entities such as the Central Bank of Venezuela, PDVSA and Banco de Desarrollo Economico y Social de Venezuela; other major sovereign clients include Colombia, which he has advised on a series of recent deals, as well as El Salvador, Costa Rica and Argentina. Gregory Harrington, Arturo Caraballo, Raul Herrera and counsel Carlos Pelaez are also important members of the team.

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Legal Developments by:
Arnold & Porter

  • The role of arbitrators in EU antitrust law

    In May 2014, it will be ten years since Regulation No 1/2003 entered into force. When the legislator of the European Union adopted this Regulation on 16 December 2002, its main objective was to decentralise the enforcement of the two main provisions of EU antitrust law, Articles 81 and 82 of the Treaty establishing the European Community (now Articles 101 and 102 of the Treaty on the Functioning of the European Union (TFEU)). Where do the arbitrators fit in this picture?

    - Arnold & Porter (UK) LLP

Legal Developments worldwide

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    A. INTRODUCTION   The VAT E-commerce Package adopted by the Council on the 5th of December 2017 includes several changes that will be gradually implemented, some changes will be effective as from the 1st of January 2019 and the rest as from the 1st of January 2021.
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    One of the most hotly discussed topics in 2019 is currency control liberalization in Ukraine.The currency control liberalization was one of Ukraine’s priorities under the EU-Ukraine Association Agreement. At the beginning of 2019 the National Bank of Ukraine (hereinafter the “NBU”) approved and promulgated all long-awaited regulations, serving as the basis for a new liberal system of foreign currency control. The new currency control system will be launched on 7 February 2019, the same day as the Law of Ukraine  On Currency and Exchange Transactions  becomes applicable. The changes are aimed at deregulation, facilitating cross-border transactions with foreign currency and expanding the list of available foreign currency transactions.
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    Stelios Americanos & Co LLC, participated in WORLD SHIPPING LAW FORUM in Athens that has taken place on the 25th January 2019. The conference took place at N.J.V. Athens Plaza.