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Alemán, Cordero, Galindo & Lee

2ND FLOOR, HUMBOLDT TOWER, EAST 53RD STREET, MARBELLA, PANAMA CITY, PANAMA
Tel:
Work +507 269 2620
Fax:
Fax +507 263 5895
Email:
Web:
www.alcogal.com
Luxembourg, Nassau, Panama, Tortola

Panama

Banking and finance
Banking and finance - ranked: tier 1

Alemán, Cordero, Galindo & Lee

Irrefutably one of the best law firms in Panama for banking-related matters, Alemán, Cordero, Galindo & Lee’s banking and finance practice has ‘deep assertive knowledge of the industry and its regulations’. The team provides advice on regulatory matters, credit agreements, syndicated loans and project finance and is frequently involved in the most complex key mandates in Panama, such as the recent transfer of all assets held by Grupo Waked into trusts; in connection with the Soho Mall Trust and the Felix B Maduro Trust, Anibal Galindo and Eloy Alfaro led advice to the lender banks, including Banistmo, Banesco and Bladex, which acted as beneficiaries to the settlors. Borrower-side work saw Arturo Gerbaud act as local counsel to Gas Natural Atlántico and Costa Norte LNG Terminal in connection with the $600m financing of the construction and development of a LNG power block and terminal. In addition to banking advice in the energy sector, the group also demonstrates industry expertise in the construction, real estate, telecommunication and transportation sectors. Notable clients include Citibank, Banco General, Banistmo and more recently, Global Bank Corporation. Practice head Gerbaud ‘excels in banking-related matters’ and has a ‘deep understanding of the industry’; senior associate Patricia Cordero is another name to note.

Leading lawyers

Arturo Gerbaud - Alemán, Cordero, Galindo & Lee

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

Alemán, Cordero, Galindo & Lee

Alemán, Cordero, Galindo & Lee’s 13-strong practice has an excellent reputation in the field and stands out for its extensive breadth of services, such as representing clients as purchasers or sellers in high-profile deals, and leading advice on regulatory matters and restructurings across various sectors, including aviation, banking, construction, energy, real estate and telecommunications. Headline mandates saw Carlos Cordero and practice co-head Alejandro Ferrer lead advice to Cable & Wireless Communications (CWC) on its $5.3bn sale to Liberty Global. Other recent work saw Eloy Alfaro act as regulatory counsel to EFG International concerning the $1.7bn acquisition of BSI Bank and its operations from Banco BTG Pactual of Brazil. Ferrer co-heads the team with highly recommended Arturo Gerbaud; founding partner Jaime Alemán is highly regarded for his decades-long expertise in the sector. Anibal Galindo and associate Rita de la Guardia are also involved in corporate and M&A matters. The firm’s client-base includes notable financial institutions, such as Julius Bär, Citibank and The Bank of Nova Scotia.

Leading lawyers

Arturo Gerbaud - Alemán, Cordero, Galindo & Lee

Next generation lawyers

Eloy Alfaro - Alemán, Cordero, Galindo & Lee

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Dispute resolution
Dispute resolution - ranked: tier 1

Alemán, Cordero, Galindo & Lee

Singled out by peers and clients alike, Alemán, Cordero, Galindo & Lee’s dispute resolution department is undeniably among the best in Panama. Led by practice head Alejandro Ferrer, the team handles arbitrary and litigious matters and recently represented Grupo Unidos por el Canal (GUPC) as plaintiff before the International Chamber of Commerce, regarding a $236m claim and other contentious matters related to the expansion of the Panama Canal. The practice also acted as counsel to the lender banks of the Soho Mall Trust and the Felix B Maduro Trust and successfully reached an agreement between its clients, the Waked Group, the Government of Panama and US authorities. Other clients include Copa Airlines, Cable & Wireless and Elektra Noreste. Names to note are Jorge Lee and ‘extremely responsive’ associate Eduardo Gómez.

Leading lawyers

Alejandro Ferrer - Alemán, Cordero, Galindo & Lee

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Legal market overview

Panama’s key market players remain the same; Alemán, Cordero, Galindo & Lee, Arias, Fábrega & Fábrega, Galindo, Arias & López and Morgan & Morgan are strong and experienced firms, able to tackle the most complex, multi-jurisdictional matters that are no rarity in Panama, due to it being a financial, maritime and offshore hotspot in Latin America. In 2016 the ever-dynamic Arias & Muñoz split amicably into Arias and Muñoz Global, the latter entering into a combination agreement with Dentons, since when it has operated as Dentons Muñoz ever since.

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Offshore
Offshore - ranked: tier 1

Alemán, Cordero, Galindo & Lee

With a strong international network and offices in The Bahamas, Belize, BVI, Hong Kong, Singapore, Dubai and Switzerland among others, Alemán, Cordero, Galindo & Lee boasts a wealth of experience in offshore-related services, including tax planning, asset protection, the formation and administration of companies, due diligence, restructuring and M&A matters across various sectors. Firm founder and standout figure Jaime Alemán, who formerly acted as Panamanian ambassador to the US (2009-2011), jointly heads the seven-strong team with the very active Raúl Zúñiga. Together with experienced associate Cristina de Alba, Zúñiga recently assisted an international investor and developer group with the restructuring of companies and properties. In another highlight, the team advised a private financial institution on the granting of a credit facility and led advice on corporate matters. The firm’s client roster is mainly composed of financial institutions, investor groups and corporations, such as Union Bancaire Privée, Banque Privée Edmond de Rothschild and UBS.

Leading lawyers

Raúl Zúñiga - Alemán, Cordero, Galindo & Lee

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Real estate
Real estate - ranked: tier 1

Alemán, Cordero, Galindo & Lee

Alemán, Cordero, Galindo & Lee’s market-leading real estate practice is co-led by well-known name partner Anibal Galindo; Lorenzo Marquínez, who is experienced in large-scale residential developments and administrative matters; and the very active Eloy Alfaro. The team is currently handling one of the year’s key domestic mandates, with Alfaro and Galindo leading advice to Banca de Inversión Bancolombia, the investment bank tasked with the sale of the mixed-use high-end Soho Mall project with an estimated value of $500m. Other significant work includes Alfaro’s continued advice to London & Regional Panama in connection with the $405m mixed-use real estate development, the Panamá Pacífico Special Economic Zone. Associate Rafael Marquínez, also deserves mention and acts for clients including Desarrollos Comerciales and Ideal Living.

Leading lawyers

Anibal Galindo - Alemán, Cordero, Galindo & Lee

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Shipping
Shipping - ranked: tier 2

Alemán, Cordero, Galindo & Lee

Alemán, Cordero, Galindo & Lee’s shipping department is led by Anibal Galindo and advises global shipping companies and banks on maritime matters, such as the construction, acquisition, operation and financing of ships, barges, drilling rigs and LNG tankers. Recent work saw the team lead advice to Meryll Lynch Commodities on the structuring of a guaranteed financing and commodities agreement with hydrocarbons company Kamca Trading. Other clients include Citibank, Hubel Marine and Aegan Marine.

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