The Legal 500

Work +562 2367 3000
Fax +562 2367 3003


Top-tier recommendations



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]

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • The Constitutional Court abolished the Article 16/5 of the Decree Law numbered 556

    The Constitutional Court abolished the Article 16/5 of the Decree Law numbered 556.
  • Assignment of Trademarks and Licensing of Trademarks in Turkey

    I. Introduction
  • Austria: Amendments to Chemicals Act and Biocidal Products Act

    On March 5 2015 Austria's agriculture, forestry, environment and water economics minister presented a draft law to amend the Chemicals Act and the Biocidal Products Act. The proposed amendments are the last steps towards the final standardisation of the classification, labelling and packaging of substances and mixtures in accordance with EU Regulation 1272/2008 (the 'CPL Regulation'). The amendments simplify the term 'toxin' and shift the existing toxin purchase permit system to a simplified system of toxin purchase certificates. Read more...
  • Poland: Traders' Obligations under the New Consumers Protection Act

    The new consumers protection act (" Act ") which came into force on 25 December 2014 changed the obligations that traders (entrepreneurs) have with regard to the execution of sales contracts with consumers (relating to both goods and services) and warranty rules relating to the provided goods. read more...
  • Tax Legislation Overhaul Proposed in the Republic of Srpska

    Significant changes to the tax regulations in the Republic of Srpska (“RS”) are expected in the coming months. On March 6, the National Assembly of RS passed amendments to the Law on Fiscal Cash Registries. In addition, Parliament approved the Government’s proposals on amendments to several important tax laws, including corporate income tax, personal income tax, social security contributions and property tax. Proposed changes to the laws governing accounting and financial audits have also been approved. These changes are intended to clarify and strengthen existing tax rules, widen the tax base and introduce more discipline in the payment of tax, but also to reduce the tax burden for businesses in order to stimulate economic growth.
  • Careless limit values threaten the Mining Industry

    By lawyer/partner Pia Pehrson and associates Pelle Stubelius and Ludvig Gustafson, Foyen Advokatfirma
  • Wage moderation - The Act providing the new remuneration margin has been published

    On Thursday 30 April 2015, the Act establishing the maximum margin for the evolution of remuneration costs for 2015 and 2016 was published in the Belgian Official Gazette and entered into force.
  • Installment Sales

    The Regulation About Installment Sales ( "The Regulation" ) entered into force by being published in the Official Gazette on 14 th  January 2015. Although the title is 'installment sales'; the main subject of the Regulation is financial leasing agreements. It is important to be careful not to confuse the installment sales with the prepaid sales. In prepaid sales the buyer have the possession of the sold movable property after completing the payment. However in installment sales the buyer gets the property immediately and then makes the payment. Moreover the sales made by credit cards are not the subject of this Regulation.
  • Protection of Creditors and Employees and Personal Liabilities of Shareholders in Mergers

    Synergies and increase in the assets of the merging companies are aimed at mergers. However, a merger may at the same time result in the increase of the liabilities of the merging companies. Further, in some cases the financial standing of the absorbed company in a merger may not even show positive figures thus such a merger may present a potential risk on the creditors of especially the surviving company. Due to the fact that creditors of the merging entities do not have a veto right against a merger, there arises the need for a specific protection tool for the creditors. A merger may also negatively affect the employees of the merging entities, again especially the ones of the absorbed company. On the other hand, "over-protection" may defeat the purpose of the merger concept so a fairly balanced protection mechanics is essential. This article focuses on the means of protection of creditors and employees, and personal liabilities of shareholders in mergers, as regulated by the Turkish Commercial Code ("TCC").
  • The Gas Pipelines, the Cold War and the Black Sea Region

    Since the end of the Cold War, the Black Sea region has gained even greater political and economic importance and has become the subject of a dominance battle between world powers including the United States of America, Russia and the most influential member states of the European Union. While these world powers battle for dominance, local players such as Turkey and Ukraine have also gained importance and have used their geopolitical position to promote themselves as key international policy players.