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Argentina : Banking and finance
Within Banking and finance, Bruchou, Fernández Madero & Lombardi is a first tier firm,
Despite the slow-down in transactional activity in Argentina in recent years, the ‘very professional and very capable' banking and finance team at Bruchou, Fernández Madero & Lombardi has maintained a consistent level of high-quality work, which has cemented its position as the preeminent banking firm in the country. The team counts key financial institutions, corporations and multilateral agencies as clients and carried out significant work for the public sector in 2011, handling the issuance of bonds worth $260m by the province of Neuquén. Similarly, the team also handled a public debt issuance of $85m for the city of Buenos Aires and was involved in 90% of all international placements of bonds issued privately in Argentina, and 64% of both local and international placements. Additionally, 2011 saw the team advise Banco de la Provincia de Córdoba on the issuance of negotiable bonds by Empresa Provincial de Energía de Córdoba (EPEC) for an aggregate amount of $565m, as well as advising Deutsche Bank Securities and UBS Securities International in the issuance of notes by Banco de Galicia y Buenos Aires for an aggregate amount of $300m. This level of expertise has given rise to a reputation as ‘by far the number one national firm in response times and industry knowledge' in capital markets work. The team also worked on one of Argentina's largest banking transactions in recent years when the highly respected Carlos Lombardi assisted Standard Bank London Holdings PLC in the $600m sale of 80% of the capital stock of Standard Bank Argentina to the Industrial and Commercial Bank of China. The firm also assisted Credit Suisse, Deutsche Bank Securities, Goldman Sachs, Itaú BBA, Morgan Stanley, Raymond James and Santander in the sale by Repsol of $1.7bn of YPF shares, representing 7.1% of YPFs share capital at the time. The sale was handled by Roberto Lizondo, who, along with Hugo Bruzone, is praised for his ‘significant commercial expertise' by clients and industry professionals alike. The team also has significant expertise in syndicated loans, structured products, project and acquisition finance, derivatives, leasing, private banking, investment funds and securitisations. Mariano Rovelli is highly recommended for his ‘deep knowledge of the banking business and high-level litigation skills'. The practice has also represented the Argentine Banking Association for over a decade, affording it an important position of prominence in the banking and finance sector as a whole.
Argentina : Corporate and M&A
Within Corporate and M&A, Bruchou, Fernández Madero & Lombardi is a second tier firm,
Bruchou, Fernández Madero & Lombardi has a ‘very deep team' which ‘covers each and every legal need of clients' in corporate matters. The 37-strong group is ‘one of the best in Argentina', and provides ‘legal services of international standard, with a team of lawyers that makes the client feel sure that they are receiving the best service available in the region'. Working closely with the tax, banking, regulatory, litigation and bankruptcy teams, the group can provide a complete corporate service and is equipped to handle the most complex transactions. The team also has a strong international focus and is experienced in dealing with the political, economic and cultural complexities of negotiating and structuring cross-border acquisitions. A group led by senior partner and leading light Enrique Bruchou advised Stillwater Mining Company, the United States' only producer of palladium and platinum, in the $487.1m acquisition of outstanding shares of Peregrine Metals. ‘Always available', Siro Astolfi is also praised for ‘applying state of the art knowledge', and recently advised automotive parts company Brembo on its acquisition of 75% of Perdiel, a producer of brake discs. The highly recommended Hugo Bruzone represented the Royal Bank of Scotland on the sale of its operations in Argentina (as part of its Latin American divestiture plan), to Banco Comalfi. Carlos Lombardi and Estanislao Olmos are ‘highly qualified, business-oriented professionals with strong relationships and outstanding reputations'. Both lawyers represented the majority shareholders of Grupo Servicios y Transacciones (GTS) in negotiations with Dolphin Créditos over GTS's corporate restructuring, including the acquisition of 45% of capital stock of GTS held by Dophin. The firm's impressive client roster also features Bayer, American Express, Caterpillar, Dreyfus, GlaxoSmithKline, Iberia, Mitsubishi, Petrobras and the Sociedad Argentina de Énergia.
Argentina : Dispute resolution
Within Dispute resolution, Bruchou, Fernández Madero & Lombardi is a first tier firm,
Bruchou, Fernández Madero & Lombardi represents clients in the full range of dispute resolution matters, spanning contractual, corporate, bankruptcy, environmental and insurance conflicts, as well as tort claims. The team has broad experience in multi-practice, multi-jurisdictional cases and has been involved in some of the largest disputes in the region. The team is led by Carlos Rotman, who previously served as a judge in the Commercial Court of Appeals for two decades and as chairman of the National Court of Appeals on commercial matters for three terms. Rotman, along with fellow former judge Francisco Cárrega and Rodolfo Ramírez, a commercial litigation expert with 38 years' experience, advised a subsidiary of Petronas Corporation in an arbitration proceeding filed by Compañia General de Combustibles and Tecpetrol. The proceeding was filed in order to challenge the stock purchase agreement executed by the client and RPM Gas, and the team obtained the overruling of an injunction that prevented the registration of this stock purchase. The group is also representing Isolux Argentina, a subsidiary of international engineering company Isolux, in arbitration proceedings against a leading power generation consortium. The claim is based on several contractual matters relating to a combined cycle generation turnkey project, and the team obtained an attachment over the defendant's assets to secure the outcome of the arbitration. As befits a firm with profound expertise in banking, finance and corporate law, the litigation practice in these areas is appropriately strong. It represents major financial institutions including BBVA Francés, Banco Santander, Banco Macro, Banco de Cordoba, Banco Galicia, Citibank, RBS, Cetelem, BST and Standard Bank, in class action cases which require an analysis of a complex set of banking issues from a consumer standpoint. The team also acts as counsel to banking institutions in anti-money laundering and administrative proceedings, as well as criminal foreign exchange cases and much general banking litigation work. The team is acting on behalf of Bunge Argentina in a complex insurance liquidation of a damages and tort claim that affected certain premises and machinery of the client and incurred significant losses. It also represented maritime transportation company Naviera Sur in a shareholders conflict. With the team's advice, claims against the company were successfully concluded and the client retained its operational capacity.
Argentina : Energy and natural resources: electricity
Within Energy and natural resources: electricity, tier 4
Bruchou, Fernández Madero & Lombardi advises foreign and local companies in investment negotiations, acquisition and joint venture transactions, and regulatory issues. The firm is active in the energy market predominantly through its work for SADESA (Sociedad Argentina de Energía), an Argentine holding company which controls several power generation facilities and is currently the largest power generator in Argentina. The firm advises the company on corporate, regulatory, litigation and international arbitration, tax and labour law matters. It also advised SADESA subsidiary Termoeléctrica San Martín regarding contractual relationships and regulatory issues connected to the construction of a combined cycled power plant. This work was handled by Mariano Luchetti, who ‘always produces precise, concise solutions' and takes the lead in the team's business-related electricity matters. Senior associate José Manuel Pazos, a lawyer with ‘a great technical capacity and a great understanding of issues both with the client and in front of the regulatory bodies', handles regulatory work. Senior partner and chair of the practice Enrique Bruchou is highly recommended for strategic industry issues.
Argentina : International trade and customs
Within International trade and customs, Bruchou, Fernández Madero & Lombardi is a first tier firm,
Providing an ‘excellent service' to clients, Bruchou, Fernández Madero & Lombardi's international trade and customs team has a reputation as the leading firm in Argentina in this area. The team fields many ‘very good professionals' who offer ‘quick and easy-to-understand solutions', leading to a high level of client satisfaction, and earning respect among peers. The team provides advice on customs compliance, temporary importation, preferential trading agreements, import regimes, representation before government authorities, strategic planning, exchange regulations and import balancing commitments. It also has a strong practice in foreign trade and customs litigation. This capability is enhanced by hugely respected litigator Jorge Damarco, who served as a customs judge in the tax court for eight years and as a judge in the Federal Court of Appeals for over two decades, with jurisdiction over administrative, customs and tax issues. Recently, the team has seen significant work in anti-dumping issues, and has succcessfully intervened in several investigations initiated by the state against imported goods. The team also defended Mundial Productos de Consumo and Mundial Argentina (Mundial Brazil's Argentine subsidiary and importer), in a conflict arising from an anti-dumping investigation into all kitchen and professional knives imported from Brazil. The investigation was closed in 2011 without the imposition of anti-dumping duties on the client. The case was led by the ‘particularly good' Eduardo Mallea, who provides ‘well-reasoned and practical advice' and ‘understands the challenges faced by the client'. Mallea is heavily involved in virtually every aspect of the group's work and is described as a ‘true professional and a pleasure to work with'. Recently he provided advice to 37 of the most important import/export firms in the country, as well as several government chambers, such as the Corporate Companies' Chamber, in relation to requirements imposed by the Financial Information Unit (UIF) regarding money laundering and terrorist financing controls. Other active clients include Lavazza Coffee, United International Pictures, AGFA, Cargill, Schindler Elevator Corporation, Specialized Bicycles, Ball Corporation, Atanor and Fada Pharma/Laboratorio International Argentina.
Argentina : Public law
Within Public law , Bruchou, Fernández Madero & Lombardi is a third tier firm,
Bruchou, Fernández Madero & Lombardi provides assistance to regulated companies, public service providers, and banks. It advises on the renegotiation of concession contracts, the negotiation of contracts which involve the Government as an investor, and in disputes with the Argentine public sector before administrative agencies, courts and arbitration tribunals. The team significantly increased its capabilities with the hiring of Carlos de Kemmeter as practice head from Negri & Teijeiro Abogados in 2011. Kemmeter is praised for his ‘excellent technical knowledge' and ‘great aptitude in conflict resolution', and is described as an ‘honest and trustworthy individual who is a pleasure to work with'. Jorge Damarco is a hugely experienced lawyer who was formerly a judge at the Federal Court of Appeals. The firm was recently retained by BANELCO, the country's main provider of automated cash services, after a beauty contest with other leading legal players in the field, to act as its defence team in a AR$620m administrative claim brought against the company by the Administración Federal de Ingresos Públicos. Elsewhere, the firm represented Molinos Río de la Plata in a lawsuit filed before the Argentine Supreme Court against the province of Misiones in order to obtain a declaration of the unconstitutionality of a provincial law which restricts interstate commerce of yerba mate, one of the company's major businesses. The Supreme Court granted a preliminary injunction in favour of Molinos, ordering the Province of Misiones to suspend application of the law until the delivery of a final judgement in the case.
Argentina : TMT
Within TMT , Bruchou, Fernández Madero & Lombardi is a third tier firm,
Bruchou, Fernández Madero & Lombardi provides clients with primarily regulatory services in the telecoms area, advising on IT agreements, data protection, software licensing and e-commerce. It also assists in intellectual property issues arising from the entertainment industry. The team is led by Andrés Moncayo von Hase, an expert in IT and data protection regulation. He advises Banco de la Provincia de Córdoba on matters relating to software protection, database and credit card processing agreements, and equipment related agreements. The team also advises Atanor, a leading chemical company in Argentina, on several broadcasting issues regarding the erection of radio antennas at its plant in Buenos Aires province.
Argentina : Tax
Within Tax, Bruchou, Fernández Madero & Lombardi is a first tier firm,
‘Service is always excellent across the board' at Bruchou, Fernández Madero & Lombardi, with the team providing tax advice on financial products, M&A, cross-border structuring, corporate income tax, provincial and local taxes, promotional tax regimes, and corporate tax planning. Practice head Matías Olivero Vila is a senior figure in Argentine tax law and the current vice-president of the Argentine Industrial Association. Jorge Damarco leads the team alongside Vila, and is a former judge of the Federal Tax Court, the Federal Court of Appeals and the Supreme Court. Damarco takes the lead in the team's litigation matters, where it assists in all types of tax disputes, providing counsel at all court levels as well as follow-up advice on future contingencies. Another key contact in this area is respected litigator Liban Kusa. The team acted as tax advisor to the Argentine Banking Association for a decade and it has an unrivalled expertise on taxation in the banking and finance industries. It is currently advising Banco Galicia, Citibank, Deutsche Bank and Banco Superville in a case involving the claims of several Argentine provinces that compensatory bonds received by financial entities as compensation for the 2001/02 financial crisis should be subject to turnover tax. The amount in dispute is over $100m. Demonstrating the firm's strength-in-depth, senior associate Ezequiel Lipovetzky is ‘excellent, practical and technically adept' and is rated for his ‘ability to convert sound theoretical knowledge of tax issues into practice'.
Further information on Bruchou, Fernández Madero & Lombardi
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Offices in Buenos Aires
- Banking and finance : Banking and finance
- Corporate and M&A : Corporate and M&A
- Dispute resolution : Dispute resolution
- Energy and natural resources: electricity : Energy and natural resources: electricity
- International trade and customs : International trade and customs
- Public law : Public law
- TMT : TMT
- Tax : Tax