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AV JOSÉ LARCO 1301, TORRE PARQUE MAR, MIRAFLORES, LIMA 18, PERU
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Latin America: International firms

Local practitioners of note (by country)

Miranda & Amado is highly regarded by international peers for its arbitration practice, which covers the oil and gas, construction and transport sectors among others; José Daniel Amado, Luis Miranda and Bruno Amiel are the key contacts. Rodrigo, Elías & Medrano, Abogados fields several prominent practitioners including José Tam and Alejandro Manayalle, who acted in a complex PPP-related arbitration, as well as Luis Bedoya, who has expertise in the mining industry. Other names to note are Adrían Simons, who founded boutique dispute resolution firm Estudio Simons – Solución de controversías in 2011; and Carlos Soto, who is president of the Peruvian Arbitration Institute.

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Peru

Banking and finance
Banking and finance - ranked: tier 1

Miranda & Amado

Few firms match Miranda & Amado’s superb track record in the banking and finance sector, where its ‘extremely competent’ team, featuring nine partners (one of the largest in Peru), continues to lead the field. The group’s bench strength combines with the firm’s international experience to ensure it is a top choice for an impressive roster of domestic and foreign banks and financial institutions, particularly on major cross-border deals. The firm also acts for corporate borrowers on major lending transactions. The practice is well balanced between transactional and regulatory matters, and houses a specialised banking regulatory group that assists on bank funding transactions as well as bank formation and licensing. Capital markets work is a sweet spot for the practice, and the team provides robust coverage in international Rule 144A/Reg. S debt offerings and equity offerings. Project finance expert José Miguel Puiggros chairs the department, and is particularly adept at projects-related capital markets transactions; he recently advised renewables company Atlantica Yield (formerly Abengoa Yield) on its €275m issuance of notes in the global capital market. Also active on the lender side, he assisted Banco Santander as lead arranger, and a group of financial institutions, with a $252m syndicated loan to Refinería La Pampilla for the construction of a new, low-sulphur diesel production unit. The highly regarded Juan Luis Avendaño C handles a wide array of finance transactions, debt capital markets and banking regulatory matters; he led the advice to underwriters Banco Bilbao Vizcaya Argentaria, BNP Paribas and HSBC on Peru’s issuance of $1.01bn euro-denominated bonds. He also assisted Corporación Primax with its first bond issue, which involved the registration of a $300m bond programme and three issuances totalling $200m. On the lending side, highlights included advising French investment bank Natixis and Dutch state-owned bank ABN AMRO on a $400m loan to Trafigura’s Peruvian mining arm. Also recommended is the ‘very competent’ Nydia Guevara, who assisted state-owned Peruvian bank Banco de la Nación with its first ever bond issuance, worth $77m. Other prominent practitioners include Luis Marcelo De-Bernardis, who specialises in project finance – particularly in the energy and natural resources sectors; leading regulatory banking expert Rafael Corzo, who provides ‘accurate, well-grounded responses in a timely manner’; and Roberto MacLean, who brings 20 years’ experience of project finance and equity capital markets transactions to the team. The team houses a strong group of senior associates, including Gabriela Dañino (financings and project finance); Álvaro del Valle (capital markets, funds work and transactional finance); and the ‘very responsive’ Lisbeth Benavides (transactional finance and bankruptcy matters).

Leading lawyers

Juan Luis Avendaño C - Miranda & Amado

Roberto MacLean - Miranda & Amado

Next generation lawyers

Álvaro del Valle - Miranda & Amado

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Bankruptcy and restructuring
Bankruptcy and restructuring - ranked: tier 2

Miranda & Amado

According to sources, Miranda & Amado is ‘truly the go-to firm for financial institutions’ in insolvency and restructuring matters: clients commend the ‘very practical team’, which ‘understands the context of a distressed situation very well’. The practice is ‘well equipped in both the in-court and out-court restructuring spaces’, particularly since the addition of counsel Renzo Agurto in 2015. Agurto has 16 years experience in corporate reorganisations, wind-ups and liquidations, and a ‘razor-sharp understanding of INDECOPI and the recent developments there’. Practice head Rafael Corzo is a ‘recognised expert in his field’, and handles both distressed and non-distressed financing work, which clients find ‘very helpful’. Among non-confidential highlights, the team recently advised Deutsche Bank Peru on the liquidation of a Peruvian financial entity; and COINREFRI on the initiation of Pesquera Tierra Colorada’s insolvency proceedings. The team often draws on the firm’s multidisciplinary capabilities; this is evidenced in its advice to Compañía Minera Santa Inés y Morococha, in relation to $48m claims in Castrovirreyna Compañía Minera’s insolvency proceedings – in which Agurto was assisted by highly regarded associate Lisbeth Benavides.

Next generation lawyers

Lisbeth Benavides - Miranda & Amado

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Competition and antitrust
Competition and antitrust - ranked: tier 2

Miranda & Amado

Being ‘one of the best for competition matters in Peru’, Miranda & Amado is praised for its ‘energetic approach’ acting for both domestic and international clients in competition and antitrust cases before the Peruvian competition authority and the judiciary. Clients are drawn from the electricity, oil-and-gas and telecoms sectors, in which the team boasts ‘very attuned industry knowledge’ and provides ‘very thorough advice’. In July 2016, former departmental head Enrique Felices left to work as an advisor to Peru’s Prime Minister Fernando Zavala. However, the team’s deep bench and strong track record in this area should ensure it remains a strong player, and continues to provide a top-level service. Among the team’s key figures, counsel Alfonso Rivera has over 20 years’ experience advising on antitrust and regulatory issues; senior associate Christian Chávez is singled out as a ‘very good lawyer on competition matters’ on the back of his ‘excellent grasp of economic issues’; and Luis Vinatea regularly handles competition cases in the telecoms sector. At the associate level, names to note include Juan Chang, Omar Alvarado, and Mario Drago. Representative clients include MasterCard International, Repsol, Telefónica del Perú, Philip Morris International, and Kawasaki.

Next generation lawyers

Christian Chávez - Miranda & Amado

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Corporate and M&A
Corporate and M&A - ranked: tier 1

Miranda & Amado

According to sources, Miranda & Amado is the ‘go-to firm for high-end M&A work in the Peruvian market’. Its practice is described as ‘simply outstanding, in line with the level of service of any magic-circle firm’, and the team’s ‘industry knowledge and depth of response deserve specific praise’. In addition to its ability to provide full-service support, the six-partner-strong group offers enviable international capability through its regular involvement in major cross-border M&A transactions in Peru. Among the names to note, ‘excellent negotiator’ Bruno Amiel shows ‘an impressive depth and level of involvement’, and provides ‘a very rare standard of service’. Together with tax partner Rocío Liu, he recently advised French construction company Vinci on its $1.6bn acquisition of Línea Amarilla toll road from Brazil’s Invepar; the transaction also involved Vinci’s purchase of tollbooth operator PEX from the same Brazilian infrastructure company. In other highlights, Luis Marcelo De-Bernardis assisted Duke Energy with the Peruvian side of its $1.2bn sale of assets across Latin America to US private equity company I Squared Capital; Nathalie Paredes advised KLS on the $85m sale of a 30% stake in Marcobre to Minsur; and Roberto MacLean acted for Intralot de Perú on the sale of 80% of its capital stock to NG Entertainment Perú. The ‘very solid team of professionals’ also includes ‘very experienced’ name partner José Daniel Amado and Anahi Com, who was promoted to the partnership in 2016. At senior associate level, Katherine Torres and María Pía Talavera are highly regarded.

Leading lawyers

Bruno Amiel - Miranda & Amado

José Daniel Amado - Miranda & Amado

Next generation lawyers

Katherine Torres - Miranda & Amado

María Pía Talavera - Miranda & Amado

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Dispute resolution
Dispute resolution - ranked: tier 1

Miranda & Amado

Miranda & Amado is a ‘go-to firm for arbitration and dispute resolution matters’, with clients lauding its ‘outstanding service’, its ‘team of solid and 100% client-driven professionals’, and its ‘unmatchable breadth of expertise’. ‘Top practitioner’ Mauricio Raffo heads the department, which is split evenly between litigation and arbitration work. On the litigation side, areas of particular strength include regulatory disputes in the electricity, hydrocarbons and telecoms sectors; both Raffo and Juan Luis Avendaño V are representing Telefónica del Perú in a string of administrative and regulatory proceedings in relation to competition, tax, telecom and consumer protection law. The team also has specialist expertise in the full range of constitutional, civil, commercial, tax and labour disputes; recent clients include Repsol, Gas Natural de Lima y Callao Cálidda, and Dafeli. In one highlight, Raffo is defending Apurimac Ferrum in 38 claims brought by Minera Apu concerning overlapping mining concessions. Counsels Sara Taipe and Giancarlo Cresci, as well as senior associates Adolfo Pinillos and Rodrigo Urrutia, are also noted for their litigation experience. On the arbitration side, the team has a strong focus on international arbitration cases and construction disputes. Luis Miranda is representing Bear Creek Mining Corporation on proceedings in relation to the expropriation of its rights over the Santa Ana Project; while Raffo and José Daniel Amado are acting for APM Terminals Callao in a dispute over the construction of a port in Peru. Other clients include Dessau International, Obrascón Huarte Lain and ENGIE Energía Perú. Also recommended are counsel Cristina Ferraro and senior associate Lucía Olavarría, who both specialise in investment and commercial arbitration.

Leading lawyers

Juan Luis Avendaño V - Miranda & Amado

Next generation lawyers

Cristina Ferraro - Miranda & Amado

Rodrigo Urrutia - Miranda & Amado

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Environment
Environment - ranked: tier 1

Miranda & Amado

Miranda & Amado’s first-tier projects expertise, regulatory capability and understanding of administrative proceedings translate into a ‘very strong’ environmental practice that shines in natural resources and energy-related matters. Clients include Engie Energía Perú which the team assists with environmental management instruments, permits, water rights matters and environmental governmental approvals in relation to its execution and operation of several electric power plants and projects. It is also permanent counsel to Repsol Exploración Perú on environmental compliance matters in relation to its Block 57 operations, as well as regarding a number of sanction proceedings initiated by OEFA. Alberto Delgado heads the team, which also includes senior associate Alberto Ventura Rivas and associate Adriana Bendezú.

Next generation lawyers

Alberto Ventura Rivas - Miranda & Amado

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Insurance
Insurance - ranked: tier 2

Miranda & Amado

Rafael Corzo and Anahi Com co-head the practice at Miranda & Amado which, while it primarily advises on transactional matters as part of the firm’s wider corporate and finance activities, also acts for insurance companies in regulatory issues and represents clients in insurance-related disputes. Recent work included advising RIMAC Seguros on the development and structuring of a number of insurance and reinsurance products; as well as assisting a reinsurance company with a structure to bear a percentage of the risk associated with the $400m issuance of a surety bond. Roberto MacLean and Juan Luis Avendaño C are also recommended, as well as regulatory specialist Nelly Espinoza. Other clients include La Positiva Seguros y Reaseguros and Willis Group.

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Labour and employment
Labour and employment - ranked: tier 1

Miranda & Amado

The ‘excellent’ employment team at Miranda & Amado impresses with its ‘impeccable response times’, ‘professionalism’ and ‘quality service’. Sources laud its ability to ‘analyse matters from all possible legal angles’ and its ‘permanent concern’ for its clients, while the firm’s full-service offering turns it into a ‘strategic and reliable partner’ in the most complex legal issues. The practice is the largest in the country, fielding four partners, four senior counsels, and 25 associates, all of them praised for their ‘solid knowledge and wide experience’ in the labour field. ‘Superb lawyer’ Jorge Toyama and senior litigator Luis Vinatea co-chair the team; both bring more than 20 years’ experience in the full spectrum of labour law, including social security, planning and strategy, restructuring, collective bargaining and negotiations with unions and the government. Toyama and ‘excellent professional’ Alfredo Salvador advised Corporación José R Lindley on several matters, including a technological upgrade, the reorganisation of industrial factories involving 300 workers, and a collective bargaining process. Vinatea and the ‘widely experienced and empathetic’ Renato Mejía represented Telefónica del Perú in several proceedings before the country’s highest courts regarding salary differences among employees. Senior counsels Roberto Matallana and Flavia Zarins, and senior associate Carlos Cadillo, are also recommended.

Leading lawyers

Jorge Toyama - Miranda & Amado

Luis Vinatea - Miranda & Amado

Next generation lawyers

Carlos Cadillo - Miranda & Amado

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Projects and infrastructure
Projects and infrastructure - ranked: tier 1

Miranda & Amado

The ‘stupendousMiranda & Amado is ‘one of a handful of very top firms in Peru for project development and finance matters’. The ‘superb team’ is co-led by Luis Marcelo De-Bernardis and Alberto Delgado, and continues to land key roles in Peru’s most high-profile mandates, with notable recent engagements in infrastructure projects in the oil-and-gas and mining sectors. In a major highlight on the mining side, Delgado advised Minera Las Bambas on the $131m credit facility for PeruRail to build a transfer station in Pillones for the transportation of copper to the port of Matarani. Oil-and-gas lead De-Bernardis is assisting Petróleos del Perú with the project development and financing for the modernisation and expansion of the Talara crude oil refinery. Head of banking and finance José Miguel Puiggros is also a key contact for project finance work, and recently advised Banco Santander, and other lenders, on a $252m syndicated loan to Refinería La Pampilla for the construction of a new production unit. On the transactional side, mining expert Guillermo Bracamonte was Peruvian counsel to Great Panther Silver on its acquisition from Nyrstar of the Coricancha mine complex in the central Andes. Highly regarded senior associates Gabriela Dañino and Lisbeth Benavides specialise in project finance matters.

Leading lawyers

Enrique Felices - Miranda & Amado

Luis Marcelo De-Bernardis - Miranda & Amado

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Public law and regulation
Public law and regulation - ranked: tier 2

Miranda & Amado

Demonstrating a ‘high degree of expertise’ and able to build ‘teams of experts in various areas of the law’, Miranda & Amadoinspires trust, and prioritises its clients’ interests above all else’. The ‘very knowledgeable’ Luis Marcelo De-Bernardis has vast experience in regulatory matters in the energy sector, and Luis Vinatea specialises in litigation and arbitration in highly regulated industries, including labour, gas, and telecoms. De-Bernardis is advising Gas Natural Fenosa on permitting and contractual relationships with the Peruvian government under the concession agreement for the expansion of natural gas services nationwide, and which it was awarded following a public bid. Other names to note include senior associate Claudia Tengan, regulatory expert Christian Chávez, and counsel Marife Martinelli.

Leading lawyers

Luis Vinatea - Miranda & Amado

Next generation lawyers

Claudia Tengan - Miranda & Amado

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Real estate
Real estate - ranked: tier 1

Miranda & Amado

Miranda & Amado receives great market praise for its real estate capabilities, with sources stressing the ‘widely experienced and accomplished’ team’s ‘deep industry knowledge’ and ‘quick response times’. The firm is adept at handling real estate sale and acquisitions, due diligence processes, permits and licences, and the structuring and development of real estate projects, as well as urban and rural land matters. The team also has broad experience advising on the real estate aspects of energy, mining and infrastructure projects. Recent mandates include acting for Morgan Río Capital Management on its $80m acquisition of 16m square-metres of land in Piura for a water and energy project, including regulatory matters and associated licenses and permits. It is also advising Supermercados Peruanos on its $80m acquisition of two plots of land in Lima. Other clients include Terranum Capital Latin America Real Estate Fund, Sk Bergé and Laureate Education. The highly recommended and ‘always available’ Claudia Lucena is the key contact, and associates Daniel Corzo and Yelitza Valdivia provide crucial support.

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Tax
Tax - ranked: tier 2

Miranda & Amado

In line with its first-rate M&A and finance capability, Miranda & Amado’s ‘top-notch team’ has a strong transactional bent, and is an ideal choice for advice on the tax aspects of corporate, capital markets and financial operations, as well as corporate restructurings; however, the firm also has an active tax litigation practice under the leadership of ‘tax expert’ Rocío Liu. Liu has ‘impressive analytical skills’ and is hailed as a ‘referent for tax matters in Peru’; she successfully represented Universidad Peruana de Ciencias Aplicadas and Universidad Privada del Norte in their claims before the National Constitutional Court over the unconstitutionality of a retroactive profit-reinvestment tax regime applicable to educational entities. Also highly regarded for tax planning, tax advisory and tax litigation, Pablo Sotomayor acted for Telefonica del Perú before the Peruvian Ministry of Transport and Communications on its attempt to get fees paid to use the radio-electric spectrum recognised as a tax. Other names to note include senior associates Vanessa Masalías and Luis Miguel Sánchez.

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Peru: Energy and natural resources

Electricity
Energy and natural resources: electricity - ranked: tier 1

Miranda & Amado

With ‘decades of experience in the sector’, Miranda & Amado’s team is ‘top of its class’ and has a ‘strong understanding of its clients’ business and commercial requirements’. The department combines strong capability in the transactional space with ‘superior expertise’ in regulatory and competition law matters, which makes it many client’s preferred option for large power M&A deals and financings. Leading partner Luis Marcelo De-Bernardis has ‘an incredible wealth of knowledge and experience in the power sector and related transactions’; he is advising power generation company Samay I on permitting, regulatory and contentious matters thoughout all stages of the $400m Puerto Bravo non-spinning reserve power plant project in Mollendo; and also leading advice to Cerro Del Aguila on the financing, construction and operation of its $950m hydroelectric plant. Counsel Marife Martinelli gained ‘invaluable experience’ working in regulatory and governmental entities, in which she forged ‘strong connections’ and built specialist expertise in ‘navigating regulatory processes in the power sector’. Counsel Alfonso Rivera, also a regulatory expert, is highly regarded. On the associate front, names to note include Juan Chang, who specialises in power-sector regulation, and Pedro Morales, whose expertise spans regulatory matters in the electricity sector and power project development. Other clients include Termochilca, Engie Energia Peru, IC Power, Abengoa Perú, and Lineas de Transmision Peruanas.

Leading lawyers

Luis Marcelo De-Bernardis - Miranda & Amado

Next generation lawyers

Marife Martinelli - Miranda & Amado

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Mining
Energy and natural resources: mining - ranked: tier 3

Miranda & Amado

The ‘superiorMiranda & Amado garners a steady flow of instructions from mining clients and regularly handles mining-related acquisitions and financings, project developments, due diligence processes and contentious matters. Team head Alberto Delgado advised Minera Las Bambas on water and environmental permits for the storage and transportation of mineral concentrates, as well as on a $131m loan from a syndicate of banks to PeruRail to build transport services for the mine. The ‘highly professional’ Guillermo Bracamonte is singled out for his ‘quick turnaround, very good performance and impressive subject-matter expertise’. He recently advised Great Panther on the acquisition of the Coricancha mine complex from Nyrstar. Highlights on the contentious side include representing Bear Creek Mining Corporation in a $522.2m dispute regarding the expropriation of Bear Creek’s rights over the Santa Ana project.

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Oil and gas
Energy and natural resources: oil and gas - ranked: tier 2

Miranda & Amado

The practice group at Miranda & Amado is co-led by Luis Marcelo De-Bernardis and Alberto Delgado, and has a good reputation in both the upstream and downstream oil and gas segments. The team’s strength in the area is showcased through its central role advising Petroperú on the financing and development aspects of the Talara oil refinery’s modernisation and expansion project, which is valued at $3.5bn; as well as its regular advice to BPZ Exploración y Producción, ranging from an integrated gas-to-power project to regulatory, environmental and land management matters. The firm is lauded for its international capabilites, as well as its experience advising on large M&A deals; recent highlights included advising US company Duke Energy on the sale of its Peruvian assets to I Squared Capital, including natural gas-processing facilities. Also of note is the team’s strong suit in oil and gas-related regulatory issues and disputes, including high-profile international arbitration proceedings. Other clients include Repsol, CNPC International and Gas Natural Fenosa Perú.

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Latin America: International firms

Local practitioners of note (by country)

Miranda & Amado is highly regarded by international peers for its arbitration practice, which covers the oil and gas, construction and transport sectors among others; José Daniel Amado, Luis Miranda and Bruno Amiel are the key contacts. Rodrigo, Elías & Medrano, Abogados fields several prominent practitioners including José Tam and Alejandro Manayalle, who acted in a complex PPP-related arbitration, as well as Luis Bedoya, who has expertise in the mining industry. Other names to note are Adrían Simons, who founded boutique dispute resolution firm Estudio Simons – Solución de controversías in 2011; and Carlos Soto, who is president of the Peruvian Arbitration Institute.

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Peru

Banking and finance
Banking and finance - ranked: tier 1

Miranda & Amado

Few firms match Miranda & Amado’s superb track record in the banking and finance sector, where its ‘extremely competent’ team, featuring nine partners (one of the largest in Peru), continues to lead the field. The group’s bench strength combines with the firm’s international experience to ensure it is a top choice for an impressive roster of domestic and foreign banks and financial institutions, particularly on major cross-border deals. The firm also acts for corporate borrowers on major lending transactions. The practice is well balanced between transactional and regulatory matters, and houses a specialised banking regulatory group that assists on bank funding transactions as well as bank formation and licensing. Capital markets work is a sweet spot for the practice, and the team provides robust coverage in international Rule 144A/Reg. S debt offerings and equity offerings. Project finance expert José Miguel Puiggros chairs the department, and is particularly adept at projects-related capital markets transactions; he recently advised renewables company Atlantica Yield (formerly Abengoa Yield) on its €275m issuance of notes in the global capital market. Also active on the lender side, he assisted Banco Santander as lead arranger, and a group of financial institutions, with a $252m syndicated loan to Refinería La Pampilla for the construction of a new, low-sulphur diesel production unit. The highly regarded Juan Luis Avendaño C handles a wide array of finance transactions, debt capital markets and banking regulatory matters; he led the advice to underwriters Banco Bilbao Vizcaya Argentaria, BNP Paribas and HSBC on Peru’s issuance of $1.01bn euro-denominated bonds. He also assisted Corporación Primax with its first bond issue, which involved the registration of a $300m bond programme and three issuances totalling $200m. On the lending side, highlights included advising French investment bank Natixis and Dutch state-owned bank ABN AMRO on a $400m loan to Trafigura’s Peruvian mining arm. Also recommended is the ‘very competent’ Nydia Guevara, who assisted state-owned Peruvian bank Banco de la Nación with its first ever bond issuance, worth $77m. Other prominent practitioners include Luis Marcelo De-Bernardis, who specialises in project finance – particularly in the energy and natural resources sectors; leading regulatory banking expert Rafael Corzo, who provides ‘accurate, well-grounded responses in a timely manner’; and Roberto MacLean, who brings 20 years’ experience of project finance and equity capital markets transactions to the team. The team houses a strong group of senior associates, including Gabriela Dañino (financings and project finance); Álvaro del Valle (capital markets, funds work and transactional finance); and the ‘very responsive’ Lisbeth Benavides (transactional finance and bankruptcy matters).

Leading lawyers

Juan Luis Avendaño C - Miranda & Amado

Roberto MacLean - Miranda & Amado

Next generation lawyers

Álvaro del Valle - Miranda & Amado

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Bankruptcy and restructuring
Bankruptcy and restructuring - ranked: tier 2

Miranda & Amado

According to sources, Miranda & Amado is ‘truly the go-to firm for financial institutions’ in insolvency and restructuring matters: clients commend the ‘very practical team’, which ‘understands the context of a distressed situation very well’. The practice is ‘well equipped in both the in-court and out-court restructuring spaces’, particularly since the addition of counsel Renzo Agurto in 2015. Agurto has 16 years experience in corporate reorganisations, wind-ups and liquidations, and a ‘razor-sharp understanding of INDECOPI and the recent developments there’. Practice head Rafael Corzo is a ‘recognised expert in his field’, and handles both distressed and non-distressed financing work, which clients find ‘very helpful’. Among non-confidential highlights, the team recently advised Deutsche Bank Peru on the liquidation of a Peruvian financial entity; and COINREFRI on the initiation of Pesquera Tierra Colorada’s insolvency proceedings. The team often draws on the firm’s multidisciplinary capabilities; this is evidenced in its advice to Compañía Minera Santa Inés y Morococha, in relation to $48m claims in Castrovirreyna Compañía Minera’s insolvency proceedings – in which Agurto was assisted by highly regarded associate Lisbeth Benavides.

Next generation lawyers

Lisbeth Benavides - Miranda & Amado

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Competition and antitrust
Competition and antitrust - ranked: tier 2

Miranda & Amado

Being ‘one of the best for competition matters in Peru’, Miranda & Amado is praised for its ‘energetic approach’ acting for both domestic and international clients in competition and antitrust cases before the Peruvian competition authority and the judiciary. Clients are drawn from the electricity, oil-and-gas and telecoms sectors, in which the team boasts ‘very attuned industry knowledge’ and provides ‘very thorough advice’. In July 2016, former departmental head Enrique Felices left to work as an advisor to Peru’s Prime Minister Fernando Zavala. However, the team’s deep bench and strong track record in this area should ensure it remains a strong player, and continues to provide a top-level service. Among the team’s key figures, counsel Alfonso Rivera has over 20 years’ experience advising on antitrust and regulatory issues; senior associate Christian Chávez is singled out as a ‘very good lawyer on competition matters’ on the back of his ‘excellent grasp of economic issues’; and Luis Vinatea regularly handles competition cases in the telecoms sector. At the associate level, names to note include Juan Chang, Omar Alvarado, and Mario Drago. Representative clients include MasterCard International, Repsol, Telefónica del Perú, Philip Morris International, and Kawasaki.

Next generation lawyers

Christian Chávez - Miranda & Amado

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Corporate and M&A
Corporate and M&A - ranked: tier 1

Miranda & Amado

According to sources, Miranda & Amado is the ‘go-to firm for high-end M&A work in the Peruvian market’. Its practice is described as ‘simply outstanding, in line with the level of service of any magic-circle firm’, and the team’s ‘industry knowledge and depth of response deserve specific praise’. In addition to its ability to provide full-service support, the six-partner-strong group offers enviable international capability through its regular involvement in major cross-border M&A transactions in Peru. Among the names to note, ‘excellent negotiator’ Bruno Amiel shows ‘an impressive depth and level of involvement’, and provides ‘a very rare standard of service’. Together with tax partner Rocío Liu, he recently advised French construction company Vinci on its $1.6bn acquisition of Línea Amarilla toll road from Brazil’s Invepar; the transaction also involved Vinci’s purchase of tollbooth operator PEX from the same Brazilian infrastructure company. In other highlights, Luis Marcelo De-Bernardis assisted Duke Energy with the Peruvian side of its $1.2bn sale of assets across Latin America to US private equity company I Squared Capital; Nathalie Paredes advised KLS on the $85m sale of a 30% stake in Marcobre to Minsur; and Roberto MacLean acted for Intralot de Perú on the sale of 80% of its capital stock to NG Entertainment Perú. The ‘very solid team of professionals’ also includes ‘very experienced’ name partner José Daniel Amado and Anahi Com, who was promoted to the partnership in 2016. At senior associate level, Katherine Torres and María Pía Talavera are highly regarded.

Leading lawyers

Bruno Amiel - Miranda & Amado

José Daniel Amado - Miranda & Amado

Next generation lawyers

Katherine Torres - Miranda & Amado

María Pía Talavera - Miranda & Amado

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Dispute resolution
Dispute resolution - ranked: tier 1

Miranda & Amado

Miranda & Amado is a ‘go-to firm for arbitration and dispute resolution matters’, with clients lauding its ‘outstanding service’, its ‘team of solid and 100% client-driven professionals’, and its ‘unmatchable breadth of expertise’. ‘Top practitioner’ Mauricio Raffo heads the department, which is split evenly between litigation and arbitration work. On the litigation side, areas of particular strength include regulatory disputes in the electricity, hydrocarbons and telecoms sectors; both Raffo and Juan Luis Avendaño V are representing Telefónica del Perú in a string of administrative and regulatory proceedings in relation to competition, tax, telecom and consumer protection law. The team also has specialist expertise in the full range of constitutional, civil, commercial, tax and labour disputes; recent clients include Repsol, Gas Natural de Lima y Callao Cálidda, and Dafeli. In one highlight, Raffo is defending Apurimac Ferrum in 38 claims brought by Minera Apu concerning overlapping mining concessions. Counsels Sara Taipe and Giancarlo Cresci, as well as senior associates Adolfo Pinillos and Rodrigo Urrutia, are also noted for their litigation experience. On the arbitration side, the team has a strong focus on international arbitration cases and construction disputes. Luis Miranda is representing Bear Creek Mining Corporation on proceedings in relation to the expropriation of its rights over the Santa Ana Project; while Raffo and José Daniel Amado are acting for APM Terminals Callao in a dispute over the construction of a port in Peru. Other clients include Dessau International, Obrascón Huarte Lain and ENGIE Energía Perú. Also recommended are counsel Cristina Ferraro and senior associate Lucía Olavarría, who both specialise in investment and commercial arbitration.

Leading lawyers

Juan Luis Avendaño V - Miranda & Amado

Next generation lawyers

Cristina Ferraro - Miranda & Amado

Rodrigo Urrutia - Miranda & Amado

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Environment
Environment - ranked: tier 1

Miranda & Amado

Miranda & Amado’s first-tier projects expertise, regulatory capability and understanding of administrative proceedings translate into a ‘very strong’ environmental practice that shines in natural resources and energy-related matters. Clients include Engie Energía Perú which the team assists with environmental management instruments, permits, water rights matters and environmental governmental approvals in relation to its execution and operation of several electric power plants and projects. It is also permanent counsel to Repsol Exploración Perú on environmental compliance matters in relation to its Block 57 operations, as well as regarding a number of sanction proceedings initiated by OEFA. Alberto Delgado heads the team, which also includes senior associate Alberto Ventura Rivas and associate Adriana Bendezú.

Next generation lawyers

Alberto Ventura Rivas - Miranda & Amado

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Insurance
Insurance - ranked: tier 2

Miranda & Amado

Rafael Corzo and Anahi Com co-head the practice at Miranda & Amado which, while it primarily advises on transactional matters as part of the firm’s wider corporate and finance activities, also acts for insurance companies in regulatory issues and represents clients in insurance-related disputes. Recent work included advising RIMAC Seguros on the development and structuring of a number of insurance and reinsurance products; as well as assisting a reinsurance company with a structure to bear a percentage of the risk associated with the $400m issuance of a surety bond. Roberto MacLean and Juan Luis Avendaño C are also recommended, as well as regulatory specialist Nelly Espinoza. Other clients include La Positiva Seguros y Reaseguros and Willis Group.

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Labour and employment
Labour and employment - ranked: tier 1

Miranda & Amado

The ‘excellent’ employment team at Miranda & Amado impresses with its ‘impeccable response times’, ‘professionalism’ and ‘quality service’. Sources laud its ability to ‘analyse matters from all possible legal angles’ and its ‘permanent concern’ for its clients, while the firm’s full-service offering turns it into a ‘strategic and reliable partner’ in the most complex legal issues. The practice is the largest in the country, fielding four partners, four senior counsels, and 25 associates, all of them praised for their ‘solid knowledge and wide experience’ in the labour field. ‘Superb lawyer’ Jorge Toyama and senior litigator Luis Vinatea co-chair the team; both bring more than 20 years’ experience in the full spectrum of labour law, including social security, planning and strategy, restructuring, collective bargaining and negotiations with unions and the government. Toyama and ‘excellent professional’ Alfredo Salvador advised Corporación José R Lindley on several matters, including a technological upgrade, the reorganisation of industrial factories involving 300 workers, and a collective bargaining process. Vinatea and the ‘widely experienced and empathetic’ Renato Mejía represented Telefónica del Perú in several proceedings before the country’s highest courts regarding salary differences among employees. Senior counsels Roberto Matallana and Flavia Zarins, and senior associate Carlos Cadillo, are also recommended.

Leading lawyers

Jorge Toyama - Miranda & Amado

Luis Vinatea - Miranda & Amado

Next generation lawyers

Carlos Cadillo - Miranda & Amado

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Projects and infrastructure
Projects and infrastructure - ranked: tier 1

Miranda & Amado

The ‘stupendousMiranda & Amado is ‘one of a handful of very top firms in Peru for project development and finance matters’. The ‘superb team’ is co-led by Luis Marcelo De-Bernardis and Alberto Delgado, and continues to land key roles in Peru’s most high-profile mandates, with notable recent engagements in infrastructure projects in the oil-and-gas and mining sectors. In a major highlight on the mining side, Delgado advised Minera Las Bambas on the $131m credit facility for PeruRail to build a transfer station in Pillones for the transportation of copper to the port of Matarani. Oil-and-gas lead De-Bernardis is assisting Petróleos del Perú with the project development and financing for the modernisation and expansion of the Talara crude oil refinery. Head of banking and finance José Miguel Puiggros is also a key contact for project finance work, and recently advised Banco Santander, and other lenders, on a $252m syndicated loan to Refinería La Pampilla for the construction of a new production unit. On the transactional side, mining expert Guillermo Bracamonte was Peruvian counsel to Great Panther Silver on its acquisition from Nyrstar of the Coricancha mine complex in the central Andes. Highly regarded senior associates Gabriela Dañino and Lisbeth Benavides specialise in project finance matters.

Leading lawyers

Enrique Felices - Miranda & Amado

Luis Marcelo De-Bernardis - Miranda & Amado

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Public law and regulation
Public law and regulation - ranked: tier 2

Miranda & Amado

Demonstrating a ‘high degree of expertise’ and able to build ‘teams of experts in various areas of the law’, Miranda & Amadoinspires trust, and prioritises its clients’ interests above all else’. The ‘very knowledgeable’ Luis Marcelo De-Bernardis has vast experience in regulatory matters in the energy sector, and Luis Vinatea specialises in litigation and arbitration in highly regulated industries, including labour, gas, and telecoms. De-Bernardis is advising Gas Natural Fenosa on permitting and contractual relationships with the Peruvian government under the concession agreement for the expansion of natural gas services nationwide, and which it was awarded following a public bid. Other names to note include senior associate Claudia Tengan, regulatory expert Christian Chávez, and counsel Marife Martinelli.

Leading lawyers

Luis Vinatea - Miranda & Amado

Next generation lawyers

Claudia Tengan - Miranda & Amado

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Real estate
Real estate - ranked: tier 1

Miranda & Amado

Miranda & Amado receives great market praise for its real estate capabilities, with sources stressing the ‘widely experienced and accomplished’ team’s ‘deep industry knowledge’ and ‘quick response times’. The firm is adept at handling real estate sale and acquisitions, due diligence processes, permits and licences, and the structuring and development of real estate projects, as well as urban and rural land matters. The team also has broad experience advising on the real estate aspects of energy, mining and infrastructure projects. Recent mandates include acting for Morgan Río Capital Management on its $80m acquisition of 16m square-metres of land in Piura for a water and energy project, including regulatory matters and associated licenses and permits. It is also advising Supermercados Peruanos on its $80m acquisition of two plots of land in Lima. Other clients include Terranum Capital Latin America Real Estate Fund, Sk Bergé and Laureate Education. The highly recommended and ‘always available’ Claudia Lucena is the key contact, and associates Daniel Corzo and Yelitza Valdivia provide crucial support.

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Tax
Tax - ranked: tier 2

Miranda & Amado

In line with its first-rate M&A and finance capability, Miranda & Amado’s ‘top-notch team’ has a strong transactional bent, and is an ideal choice for advice on the tax aspects of corporate, capital markets and financial operations, as well as corporate restructurings; however, the firm also has an active tax litigation practice under the leadership of ‘tax expert’ Rocío Liu. Liu has ‘impressive analytical skills’ and is hailed as a ‘referent for tax matters in Peru’; she successfully represented Universidad Peruana de Ciencias Aplicadas and Universidad Privada del Norte in their claims before the National Constitutional Court over the unconstitutionality of a retroactive profit-reinvestment tax regime applicable to educational entities. Also highly regarded for tax planning, tax advisory and tax litigation, Pablo Sotomayor acted for Telefonica del Perú before the Peruvian Ministry of Transport and Communications on its attempt to get fees paid to use the radio-electric spectrum recognised as a tax. Other names to note include senior associates Vanessa Masalías and Luis Miguel Sánchez.

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Peru: Energy and natural resources

Electricity
Energy and natural resources: electricity - ranked: tier 1

Miranda & Amado

With ‘decades of experience in the sector’, Miranda & Amado’s team is ‘top of its class’ and has a ‘strong understanding of its clients’ business and commercial requirements’. The department combines strong capability in the transactional space with ‘superior expertise’ in regulatory and competition law matters, which makes it many client’s preferred option for large power M&A deals and financings. Leading partner Luis Marcelo De-Bernardis has ‘an incredible wealth of knowledge and experience in the power sector and related transactions’; he is advising power generation company Samay I on permitting, regulatory and contentious matters thoughout all stages of the $400m Puerto Bravo non-spinning reserve power plant project in Mollendo; and also leading advice to Cerro Del Aguila on the financing, construction and operation of its $950m hydroelectric plant. Counsel Marife Martinelli gained ‘invaluable experience’ working in regulatory and governmental entities, in which she forged ‘strong connections’ and built specialist expertise in ‘navigating regulatory processes in the power sector’. Counsel Alfonso Rivera, also a regulatory expert, is highly regarded. On the associate front, names to note include Juan Chang, who specialises in power-sector regulation, and Pedro Morales, whose expertise spans regulatory matters in the electricity sector and power project development. Other clients include Termochilca, Engie Energia Peru, IC Power, Abengoa Perú, and Lineas de Transmision Peruanas.

Leading lawyers

Luis Marcelo De-Bernardis - Miranda & Amado

Next generation lawyers

Marife Martinelli - Miranda & Amado

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Mining
Energy and natural resources: mining - ranked: tier 3

Miranda & Amado

The ‘superiorMiranda & Amado garners a steady flow of instructions from mining clients and regularly handles mining-related acquisitions and financings, project developments, due diligence processes and contentious matters. Team head Alberto Delgado advised Minera Las Bambas on water and environmental permits for the storage and transportation of mineral concentrates, as well as on a $131m loan from a syndicate of banks to PeruRail to build transport services for the mine. The ‘highly professional’ Guillermo Bracamonte is singled out for his ‘quick turnaround, very good performance and impressive subject-matter expertise’. He recently advised Great Panther on the acquisition of the Coricancha mine complex from Nyrstar. Highlights on the contentious side include representing Bear Creek Mining Corporation in a $522.2m dispute regarding the expropriation of Bear Creek’s rights over the Santa Ana project.

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Oil and gas
Energy and natural resources: oil and gas - ranked: tier 2

Miranda & Amado

The practice group at Miranda & Amado is co-led by Luis Marcelo De-Bernardis and Alberto Delgado, and has a good reputation in both the upstream and downstream oil and gas segments. The team’s strength in the area is showcased through its central role advising Petroperú on the financing and development aspects of the Talara oil refinery’s modernisation and expansion project, which is valued at $3.5bn; as well as its regular advice to BPZ Exploración y Producción, ranging from an integrated gas-to-power project to regulatory, environmental and land management matters. The firm is lauded for its international capabilites, as well as its experience advising on large M&A deals; recent highlights included advising US company Duke Energy on the sale of its Peruvian assets to I Squared Capital, including natural gas-processing facilities. Also of note is the team’s strong suit in oil and gas-related regulatory issues and disputes, including high-profile international arbitration proceedings. Other clients include Repsol, CNPC International and Gas Natural Fenosa Perú.

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