The Legal 500

Within Banking and finance, Claro y Cia is a first tier firm,

Claro y Cia's ‘superior level of service and state of the art knowledge of legislation and industries' make it a ‘benchmark in the field'. Both Jorge Martín and José María Eyzaguirre B ‘handle the complete system of financial contracts, guarantees and global trading, impeccably'. The firm plays a prominent role in the sector and represents major financial institutions on a wide range of matters, including loans and project financing. Martín has extensive experience acting for lenders in relation to credit agreements and the refinancing of long-term credit facilities. Past work includes advising Banco Santander on a $300m non-revolving credit agreement granted to a CorpBanca-related entity, and acting for Sociedad Concesionaria Autopista del Itata on the refinancing of a $71m long-term credit facility granted by Banco de Chile. The firm also assists borrowers; highlights included Felipe Larraín advising Compañía Sudamericana de Vapores on a $250m short-term bridge loan granted by Quiñenco, and Rodrigo Ochagavía advising AES Gener on a $260m revolving long-term credit facility. The highly regarded Cristóbal Eyzaguirre and Luisa Núñez paired up to assist Banco Itaú Chile on its acquisition of HSBC's Chilean retail banking business as well as the implementation of its joint venture with local wealth management group Munita Cruzat & Claro. On the project finance side, José Luis Ambrosy and Hernán Felipe Valdés represented Goodyear de Chile on securing a long-term credit facility of $45m to finance the expansion of its industrial facilities. Matías de Marchena assisted the International Finance Corporation (IFC) with the $316m refinancing of hydroelectric generation project Hidroeléctrica La Higuera.

Within Competition and antitrust, Claro y Cia is a first tier firm,

Claro y Cia has an outstanding reputation in competition and antitrust matters among clients and peers alike. The team has considerable experience across the sector and has been at the forefront of some of the most significant cases in the country. Practice head Cristóbal Eyzaguirre teams up with litigation specialist José Miguel Huerta to provide clients with a comprehensive service combining expertise in dispute resolution, regulatory and corporate matters. The pair represented Lan Airlines in merger control proceedings before the Competition Tribunal, the Supreme Court and the Constitutional Court in relation to its merger with Tam Linhas Aéreas. Eyzaguirre and Huerta are also acting: for Embotelladora Andina in proceedings brought before the competition tribunal regarding alleged vertical restraints on trade; British American Tobacco against the antitrust agency and Philip Morris; Lan Airlines against Aerolínea Principal for alleged predatory pricing; BBDO and Proximity on a collusion claim; and CSAV in an investigation carried out by the Chilean antitrust agency regarding shipping prices.

Within Corporate and M&A, Claro y Cia is a first tier firm,

The ‘leading corporate firm in the country', Claro y Cia has built up formidable expertise in the field and is the go-to firm for mergers and acquisitions in many of the most complex mandates in Chile. The team provides a strong all-round service to its clients, who praise its ‘high level of understanding of clients' goals' and its ‘creative thinking'. The team has been particularly busy over the last year, taking on instructions from an extremely varied roster of high-profile companies, by no means limited to its longstanding clients. The ‘distinctly talented pair' José Maria Eyzaguirre B and Felipe Larraín, joined by the ‘excellent' Cristóbal Eyzaguirre were instructed by LAN Airlines on its merger with the Brazilian carrier TAM, involving a corporate reorganisation and an exchange offer in the US and Brazil. Larraín's considerable workload also included acting for Compañía Sudamericana de Vapores on several mandates, including its restructuring and a $1.7bn capital increase. The team picked up work for Anglo American on the $5.4bn sale of a share of its ownership interest in its Sur complex to an affiliate of Mitsubishi Corporation, and in another highlight, assisted Banco Santander Spain on the sale of 51% of its South American life and non-life insurance businesses (including Chile), to Zurich Financial Services and with the subsequent joint venture between local insurance companies and Santander's local banking units. The highly regarded Rodrigo Ochagavía advised port-operator SAAM on the acquisition of ACS's interest in Iquique Terminal Internacional; he also acted for AEI Southern Cone Holdings in the sale of its energy distribution business in Chile and Peru to Sempra Energy International, an operation in which he was joined by the recently appointed partner Luisa Núñez.

Within Dispute resolution, Claro y Cia is a first tier firm,

The ‘excellent, knowledgeable and experienced' team at Claro y Cia is ‘of the absolutely highest level,' and ‘greatly recommended for complex litigation with high exposure to risk´. Its impressive strength in depth, combined with its ‘creative thinking and effective and courageous advocacy', sees it at the cutting edge of the most significant disputes, with a particular expertise in financial dispute arbitration. Highlights included Nicolás Luco and Felipe Ossa advising Swiss company ABB regarding the supply of an allegedly defective motor mill to Collahuasi, one of Chile's largest copper producers, which involved a partial mediation in London. Working in conjunction with José Miguel Huerta, the ‘strong, talented and committed' Cristóbal Eyzaguirre successfully acted on behalf of Aguas Andinas in a claim concerning the unconstitutionality of water and sewage companies' right to disconnect water services to clients in arrears. The firm's senior partner, the ‘prestigious and eloquent' José María Eyzaguirre G, teamed up with Cristóbal to represent Anglo American against Codelco in various proceedings related to the latter's claim to retain an option to buy a 49% stake in Anglo American Sur. Other clients include BBVA, Xstrata and British American Tobacco.

Within Energy and natural resources: mining, Claro y Cia is a third tier firm,

The energy and natural resources department at Claro y Cia has notable mining capabilities and regularly handles acquisition transactions, project financing issues and environmental impact assessments. Partner-in-charge Nicolás Eyzaguirre was instructed by Compass Minerals (and its subsidiary North American Salt Company), on the acquisition of a mining option relating to a number of exploitation concessions in the Gran Salar area. He advised Compañía Contractual Minera Candelaria on the environmental assessment of its desalinisation plant facilities, designed to provide desalinated seawater to its mining facilities and on the acquisition of maritime concessions for the same plant. Another representative instruction involved handling the acquisition of several mining options for Freeport McMoran and its Chilean subsidiary Minera Aurez.

Within Energy and natural resources: oil and gas/power generation, Claro y Cia is a first tier firm,

The team at full-service firm Claro y Cia fields ‘the best lawyers in Chile for energy matters' and is the ‘go-to firm for natural resources and energy law'. With proficiency across the board, the team has expertise in power-purchase, gas transportation and exchange agreements, EPC contracts, project financing and arbitration proceedings. Nicolás Eyzaguirre combines his extensive knowledge of environmental law with his energy sector practice, and Rodrigo Ochagavía brings significant finance expertise and is particularly well versed in complex power-purchase agreements. Recent highlights include advising MPX and AES Gener on the development of their respective Castilla and Alto Maipo energy projects, both of which required the negotiation of EPC contracts and power purchase agreements, as well as the relevant approvals and permits. The firm also represented: AES Gener in all its regulatory conflicts before the Energy Experts Panel; Hidroeléctrica Trayenko on the sale of water rights to a number of Chilean investors; and Norgener in the negotiation and execution of power purchase agreements with Codelco for two of its operations.

Within Environment, Claro y Cia is a second tier firm,

At Claro y Cia, Nicolás Eyzaguirre leads a team that frequently undertakes acquisition activity, such as its recent advice on the purchase of a mining option, and this extensive transactional experience has given it considerable expertise in environmental due diligence matters. Eyzaguirre was instructed by EBX Group subsidiaries MPX Energía and OMX on the environmental assessment of their thermoelectric power plant and port projects (valued at $4.7bn). With approval obtained, he continues to assist them on environmental and public law-related matters. Compañía Contractual Minera Candelaria recently called upon the group for environmental advice in relation to its desalinisation plant project, as well as assistance with the acquisition of the necessary maritime concessions. The team also represents companies before the relevant authorities in all proceedings relating to the authorisations and permitting required to legally develop their projects. The team's other clients include Cristalerías de Chile, Suez Energy Andino and Embotelladora Andina.

Within Insurance, Claro y Cia is a third tier firm,

Claro y Cia's renowned corporate capabilities extend to the insurance sector, where it advises large financial entities and insurance companies on mergers and acquisition transactions as well as corporate restructurings related to their insurance business. It recently assisted Santander with the sale of 51% of its life and non-life insurance business in South America, including Chile, to Zurich Financial Services; and acted for Nalac Group, a local private holding of insurance companies, on the incorporation of a life insurance company.

Within Intellectual property , Claro y Cia is a second tier firm,

Felipe Claro leads Claro y Cia's ‘responsive, comprehensive and proactive' team; its ‘recommendations always steer clients in the best direction'. The group, which draws on the firm's international capabilities to handle multi-jurisdictional matters, receives both trade marks and patents mandates and covers the full range of IP activity, from prosecutions and oppositions to nullity filings and cancellation actions. Felipe Claro advised Apple on the destruction of hundreds of counterfeited products and the registration of its TV logo mark, which was subject to challenge by the trade mark office and third parties. He teamed up with José María Eyzaguirre B and Felipe Larraín to advise Latam Airlines on the protection of the LATAM Airlines mark and domain name, which was carried out in a single day in approximately 40 jurisdictions – hours before the public announcement confirming LAN and Tam's merger plans. He was joined by Cristóbal Eyzaguirre and José Miguel Huerta on an on-going trade mark cancellation claim filed by Philip Morris over infringement of its ‘rooftop' logo. Other highlights include acting for Starbucks Coffee in an opposition claim in connection with a trade mark registration and The Coca-Cola Company in connection with the planned launch of a new beverage called Coca-Cola in Bolivia.

Within Real estate, Claro y Cia is a second tier firm,

Claro y Cia's practice is especially experienced in sale and purchase transactions involving real estate assets from sectors as varied as retail, residential housing, commercial, hospitality and tourism, and power generation. Highlights included José María Eyzaguirre B instructing Patagonia Virgin on a multimillion dollar development project; Felipe Larraín advising Zulueta on the negotiation and $5m acquisition of several real estate properties in the Valparaíso Region for the development of a shopping center; Eduardo González acting for Bayona on its disposal of four properties worth $12m; Jorge Martín representing Santander Global Venture Capital on a due diligence of real estate assets and the structuring of a wind-farm project; and Sebastián Eyzaguirre advising on the $6m sale of a property for a hotel project.

Within Tax, tier 4

Claro y Cia's compact tax team ‘exhibits a high level of expertise' and ‘its line of argument is invariably impeccable'. Department head Jorge Carraha ‘is technically very good, detailed and well prepared, he never overlooks any aspect of a situation and imbues a very high level of confidence with the analysis he provides'. The team is advising LAN Airlines' current controller Cueto Group on the tax aspects of the $4bn cross-border transaction that will see LAN merge with Tam. Other highlights included assisting AEI Southern Cone with its corporate restructuring in connection with the sale of its energy distribution business in Chile and Peru to Sempra Energy International, and providing tax assistance to Itaú Unibanco in connection with the acquisition of an interest in a private banking and stock brokerage business.