The Legal 500

AV. APOQUINDO 3721, 14TH FLOOR, CÓD POSTAL 755 0177, SANTIAGO, CHILE
Tel:
Work +562 2367 3000
Fax:
Fax +562 2367 3003
Web:
www.claro.cl
Email:

Chile

Top-tier recommendations

Recommendations


Latin America: International firms

Recommendations


Chile

Within Administrative law, Claro & Cia. is a third tier firm,

Claro & Cia. is known for its excellent record advising on regulatory matters in relation to public procurement processes, and Cristóbal Eyzaguirre and José Miguel Huerta are particularly recommended for their work in this area. However, it also has strong experience in advising on regulatory issues involving sectors as diverse as urbanism, construction, telecommunications and retail; and fields a leading contentious administrative and constitutional practice. Jorge Martín recently assisted the World Bank with a survey on public procurement processes under Chilean administrative law. He also represented DataBusiness, a subsidiary of Transunion, in a constitutional action concerning the publication of personal data. Other matters include Eyzaguirre and Huerta acting for Larraín Vial in administrative sanctioning procedures. Clients include Ibero Americana Radio Chile, McKinsey, and Aguas Andinas.

[back to top]

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

Claro & Cia. is particularly commended for its capabilities in project finance, capital markets and corporate finance, and the genuine breadth of the team’s practice is evidenced by a list of prominent deals. Most notably, it represented the underwriters, deal managers and placement agents in Enersis’ $6bn capital increase, one of the largest in Latin America to date; Felipe Larraín, Rodrigo Ochagavía and José Luis Ambrosy led the team. It also acted as Chilean counsel to AES Gener in the issuance and sale of $450m junior subordinated capital notes to Citigroup Global Markets and Goldman Sachs, the first transaction where a Chilean entity other than a bank places subordinated bonds on the international markets. On the project finance side, Ochagavía advised long-standing client AES Gener, Antofagasta Minerals and Alto Maipo, on a $1.22bn credit facility to fund a hydroelectric power plant. Hernán Felipe Valdés is also active in the area, and recently acted for global investment bank Jefferies Finance as lender in SK Capital’s acquisition of three businesses from Clariant. Luisa Núñez is also recommended.

[back to top]

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

Claro & Cia. has one of the strongest litigation teams in the market, and is particularly rated for complex litigation cases. The team has a superb track record in merger control procedures and is representing LAN Airlines before the TDLC, the Supreme Court and the Constitutional Court in relation to its merger with TAM Linhas Aéreas, as well as advising it on compliance with the remedies established by the TDLC. The team is also very experienced at handling antitrust investigations and recent highlights in this area include successfully acting for Embotelladora Andina in several proceedings before the TDLC over alleged vertical restrains in the local bottling market; VISA in an investigation conducted by the TDLC; and Bolsa de Comercio in an investigation over alleged abuse of dominant position. Practice co-heads Cristóbal Eyzaguirre and José Miguel Huerta both have strong market reputations.

[back to top]

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

Claro & Cia. remains a dominant force in the M&A arena, in terms of both client profile and the value of deals it handles; the firm’s strength in key sectors such as banking and finance, antitrust, energy and projects are important draws for its varied client base of multinationals, financial institutions and major domestic companies. 2013 saw practice head José María Eyzaguirre B and Felipe Larraín advise on the $7bn merger between Corpbanca Banco and Itaú Chile, a transaction that will create the third largest private bank in Chile and is pending regulatory approval in Chile, Colombia, Brazil, Panama and the US. The pair also acted for Walmart Stores in a $1.6bn put agreement with the Ibañez family, which involved the acquisition of 25% of Walmart Chile and a tender offer. In other highlights, Larraín, Rodrigo Ochagavía and Hernán Felipe Valdés assisted Compañía Sud Americana de Vapores with all legal aspects of its merger with German liner Hapag Lloyd, which required two capital increases of $200m and $400m respectively. Larraín also advised FIP Costanera on its $600m sale of a controlling interest in Cruz Blanca Salud to the English/Spanish conglomerate BUPA-Sanitas. Cristóbal Eyzaguirre and Matías de Marchena are also recommended.

[back to top]

Within Dispute resolution, Claro & Cia. is a first tier firm,

Claro & Cia. enjoys an excellent reputation and is widely acknowledged by peers as ‘a leader for litigation matters’. Its sector experience is deep and varied but the team is particularly renowned for its expertise in advising on financial disputes and high profile commercial cases. The firm was Chilean counsel to Traffic Sports in its dispute against Full Play Group over commercial rights to the Copa América, which involved ten Latin American countries and which was recently settled with the formation a joint venture. José María Eyzaguirre G and Cristóbal Eyzaguirre are held in high esteem; the sizeable team also includes leading names Nicolás Luco and Felipe Ossa, who both continue to win roles in major arbitration and litigation cases. Ossa recently represented Brescia Group in ICC arbitration against French industrial company Lafarge. Other clients include AES Gener, Banco Bilbao Vizcaya Argentaria, Euroamérica and Freeport.

[back to top]

Within Environment, Claro & Cia. is a third tier firm,

Claro & Cia. has experience in advising on environmental issues, both contentious and non-contentious, within the energy and mining sectors. Practice head Nicolás Eyzaguirre is defending Anglo American Sur in three different claims in relation to the client’s main mining site in Chile; advising Compañía Contractual Minera Candelaria on all environmental matters related to the construction and development of a seawater desalinisation plant; and assisting Freeport McMoRan Copper and Gold with the environmental assessment of solar projects in Chile. Other clients include Sun Edison, Sociedad Contractual Minera Bullmine and Elecmetal.

[back to top]

Within Intellectual property, Claro & Cia. is a second tier firm,

Claro & Cia.’s practice draws on the firm’s top-tier dispute resolution expertise to play a leading role in IP litigation, and it is also prominent in advising its largely international blue-chip client base on the IP aspects of corporate transactions and the protection of their IP rights. The team is active across the full range of patents, trade marks, industrial design, internet law and copyright matters. The standing of department head Felipe Claro as a major practitioner in the field is evidenced by the numerous instructions he received in 2013, including securing the registration of trade marks on behalf of a leading American multinational corporation. Clients are drawn from the telecoms, beverage, entertainment and industrial sectors.

[back to top]

Within Projects and infrastructure, Claro & Cia. is a first tier firm,

Claro & Cia. has an enviable track record in project finance and project development matters and the team is known for its ability to represent clients on both sides of the table. In a highlight sponsor-side mandate, Rodrigo Ochagavía won an instruction from Alto Maipo on the development and financing of a greenfield run-of-the-river generation project, which included obtaining a $1.2bn credit agreement with a syndicate of lenders. Alongside José Luis Ambrosy, he also assisted SunEdison and project company San Andres with the development of a $125.4m solar power plant and its financing through credit agreements with OPIC, IFC and Rabobank. The firm also advises on brownfield projects and recently acted for Empresa Eléctrica Cochrane in the construction and operation of a thermo electric generation plant, which involved securing a $1bn credit agreement for its financing. On the lender side, Ambrosy acted for China Development Bank (CDB) on the $52m financing of Mainstream Renewable Power’s Negrete wind power generation plant.

[back to top]

Within Real estate, Claro & Cia. is a third tier firm,

Claro & Cia. has broad real estate experience across the hospitality, retail, tourism and energy sectors and leverages off its strong corporate practice to provide particular expertise in advising on the acquisition and financing of real estate projects. José María Eyzaguirre B is the name to note.

[back to top]

Within Tax, tier 4

Jorge Carraha heads the practice at Claro & Cia., which is dominated by corporate support work and regularly advises on the tax aspects of M&A transactions and corporate restructurings. Recent highlights included advising Canada’s PotashCorp on tax planning matters and defending it before the tax authorities.

[back to top]

Chile : Energy and natural resources

Within Electricity/oil and gas, Claro & Cia. is a first tier firm,

Claro & Cia. is adept at transactional power work and is particularly active on M&A deals, project finance and capital markets matters. Nicolás Eyzaguirre has a good reputation in the market for power deals and recently acted alongside Rodrigo Ochagavía and Nicolás Luco advising Total on its $200m agreement with Etrion and Solventus for the construction of a solar power plant. Ochagavía and José Luis Ambrosy assisted AES Gener with its issuance of $450m subordinated bonds to finance ongoing energy power projects, including its Cochrane and Alto Maipo power plants. Transactional expert Matías de Marchena advised Citicorp on the sale of its stake in a hydro plant to Empresa Eléctrica Pilmaiquen. On the oil-and-gas side, Ambrosy advised Spanish natural gas operator Enagás on its joint venture with Oman Oil Company to acquire a 40% stake in GNL Quintero’s regasification terminal from BG Group. José Miguel Bustamante was promoted to the partnership.

[back to top]

Latin America: International firms

Within Local practitioners of note (by country),

One of the arbitral community’s most senior Latin American figures, Francisco Orrego Vicuña is member of 20 Essex Street; he divides his time between academic activities and arbitral appointments, most recently, OI European Group v Venezuela, rather than acting as counsel. A ‘star who shines on his own’, Andrés Jana was appointed a member of the ICSID panel of arbitrators in 2012. A former counsel to the Chilean finance and economics ministries, and sometime legal adviser to the Chilean government he is acknowledged as a leading figure in arbitral practice, A name partner at Bofill Mir & Alvarez Jana Abogados, he and his team are currently counsel to Quiborax and Non Metallic Minerals in a $145m ICSID case against Bolivia; and continue to advise Flughafen Zürich and Gestión e Ingeniería in a $95m ICSID case against Venezuela. Claro & Cia.’s Felipe Ossa spent four years as a senior associate at the Paris and Madrid offices of Freshfields Bruckhaus Deringer LLP, and is considered an up-and-coming figure in the practice; he has acted as counsel in arbitrations under the aegis of ICC, ICSID, ICDR and UNCITRAL rules, as well as the Santiago Chamber of Commerce (CAM); and as arbitrator at both the ICC and CAM. Barros Letelier & González’s Enrique Barros is currently sitting as sole arbitrator in a $10m commercial case between Casa Saba and the former owners of Farmacias Ahumada. Deemed ‘very reliable’, he is one of Chile’s ICSIDs designees, and is also currently sitting as tribunal president in Valle Verde Sociedad Financiera v Venezuela; and Highbury International Ramstein Trading v Venezuela, in which an award was rendered in September 2013. Former ICC counsel Cristián Conejero joined Philippi Yrarrázaval, Pulido & Brunner as head of arbitration upon his return to Chile in 2012. Having also spent a number of years at Cuatrecasas, Gonçalves Pereira, he has extensive experience. The team, which currently has a significant commercial caseload, can also call on Ricardo Riesco, (himself a former member of the international arbitration group at Clifford Chance’s New York office); as well as senior counsel Jaime Irarrázabal, who has sat as arbitrator and/or ad hoc committee member in both ICSID and ICC cases. In addition to Barros and Jana, Carey’s senior partner Jorge Carey, Carlos Eugenio Jorquiera, (who is President of the Centre for Arbitration and Mediation at the Santiago Chamber of Commerce), and Yrarrázaval, Ruiz-Tagle, Goldenberg, Lagos & Silva’s Arturo Yrarrázaval Covarrubias, are all designated ICSID panel members.

[back to top]


Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Anti-Money Laundering Update - Cyprus

    First uploaded on the International Bar Association's Anti-Money Laundering website.
  • Austria: Extension of the threshold regulation until the year 2016

    The "threshold regulation" adjusting (raising) the sub-thresholds of the Austrian Procurement Act ("BVergG") will be extended once again, namely for two more years. This plan was disclosed in the press briefing issued in conjunction with the retreat held by the members of Austria's federal government on September 27th and 28th this year. Thus, contracting authorities will continue to be able to benefit from substantial procedural simplifications when awarding contracts below the threshold in 2015 and 2016 as well. read more...
  • Serbia: Insolvency Act Amendments adopted

    As of 13 August 2014, the amendments and supplements to the Insolvency Act [Zakon o stečaju] are in force, published in the Official Gazette of RS no. 83/2014 ("New IA"). The New IA shall not be implemented retroactively, and those insolvency proceedings that were ongoing on the day the New IA entered into force will be continued under the previously valid rules. read more...
  • Hungary: New advertising tax feels like a bucket

    Hungary's new advertising tax, which has been introduced effective as of 15 August 2014, affects not only media companies, online and offline content providers and advertising agencies (media companies), but may also affect regular manufacturing and trading companies active in various industry segments (commercial companies). read more...
  • Voluntary ex ante transparency notice does not provide a clean bill of health...

    The ECJ has ruled that the so-called "voluntary  ex ante  transparency notice" under certain circumstances does not preclude review authorities from declaring a contract ineffective if it was awarded without prior publication of a contract notice. Moreover, the ECJ ruled that review authorities must declare a contract ineffective if the contracting authority could not legitimately hold that that the conditions for directly awarding the contract were in fact satisfied (ECJ 11.09.2014, Case C-19/13 Fastweb SpA ). read more...
  • Austria / EU: Latest EU Sanctions against Russia

    After introducing the "sectoral sanctions" against Russia on 1 August 2014 (see our  Legal Insight of 1 August 2014 ), the sanctions regime has been tightened further on September 12 as set out in EC Regulation No 960/2014. read more...
  • Austria: Judgment sheds light on joint ventures under the country’s merger control*

    Austrian merger control continues to capture non-full-function joint ventures. Joint ventures covered by merger control are sheltered against parallel assessment under the Austrian rules against anticompetitive agreements (no dual control). read more...
  • Czech Republic: Mergers, or thick red lines?

    In its decision no. 29 Cdo 3068/2013 dated 19 June 2014, the Supreme Court of the Czech Republic ("SCCR") once again ruled on the issue of the irreversibility of the legal effects of registration of transformation in the Czech Commercial Register. read more...
  • Hosting service providers at gunpoint of the financial "sharks"

    Can you fully control the Internet?
  • Financial Services & Regulatory Autumn Update 2014

    In this Update, we look at some valuable lessons learned for all financial services businesses from recent JFSC examinations and investigations, as well as amendments to the Companies (Jersey) Law.    Read more...