The Legal 500

AV ISIDORA GOYENECHEA 2800, FLOOR 43, LAS CONDES, SANTIAGO, PO 755-0647, CHILE
Tel:
Work +56 2 2928 2200
Email:
Web:
www.carey.cl

Chile

Top-tier recommendations

Recommendations


Latin America: International firms

Recommendations


Chile

Within Administrative law, Carey is a first tier firm,

Carey has a superb track record in regulatory and public law matters spanning public procurement, regulatory compliance, enactment of legislation and regulations, constitutional rights and litigation. At the helm of the practice is Lorena Pavic; she and Juan Francisco Mackenna advised the Ministry of Energy on legislative reforms, including a bill to interconnect the two electrical systems operating in Chile. Also recommended is director Fernando García, who recently represented Oximed Indura before the General Comptroller in relation to contractual breaches and payments pending in a public bidding process. The team’s impressive client roster includes both state-owned companies, such as Codelco, Empresa Nacional del Petróleo, Empresa Nacional de Minería and Metro, and regulated private companies such as Air Products, Novartis, Roche and Compass Group.

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Within Banking and finance, Carey is a first tier firm,

Carey provides robust coverage in banking and finance matters and fields a sizeable team featuring prominent market practitioners, including department heads Juan Guillermo Levine and Diego Peralta. The team’s strength-in-depth combines with the firm’s impressive international client roster to ensure it is a top choice for cross-border mandates. Finance is a firm sweet spot and the team maintains a preeminent record across project and acquisition financings, lending, debt restructurings and equity and debt securities. Peralta advised HSBC entities on the assignment and assumption of a number of term loan facilities worth $1.9bn; as well as Banco de Crédito e Inversiones on both bridge and long-term credit facility agreements with Grupo Security, both worth $140m. Also active on the borrower side, he recently assisted Cermaq and its subsidiaries in Norway, Chile and Canada, on the refinancing of its outstanding debt through two credit lines for $375m and NOK750m. The highly regarded Felipe Moro acted for Scotiabank Chile in a $230m credit facility granted to Canadian mining company Golder Associates and its Chilean unit. On the transactional side, Levine and María Fernanda Carvajal advised Bank of Ireland, Danske Bank and Nordea Bank Norge on a $140m loan granted to Salar BidCo and Salar MidCo to finance the acquisition of Pharmaq. Also recommended is Francisco Ugarte, who assisted Masisa with a $150m credit agreement aimed at paying and/or refinancing short term debt and long-term indebtedness coming due in 2014.

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Within Competition and antitrust, Carey is a first tier firm,

Simply ‘excellent for antitrust matters’, Carey has ‘outstanding expertise’ acting for both domestic and international clients in contentious cases before the Chilean Competition Tribunal (TDLC) and the Supreme Court, as well as in investigations before the National Economic Prosecutor (FNE). Key practitioner Lorena Pavic is singled out as being ‘particularly talented’, and Claudio Lizana is another leading star in the market. Significant recent work for Pavic included representing Farías Quevedo Family before the TDLC and the Court of Appeals in a claim brought by the FNE against bus transportation companies over alleged cartel practices; and Roche Laboratories before the TDLC and the Supreme Court in a $20m claim brought by Laboratorio Recalcine over alleged exclusionary conduct. Lizana advised CTI (Electrolux) as a third party in a $20m case filed before the Antitrust Court by the FNE against Tecumseh do Brasil and Whirlpool over alleged price fixing practices in the refrigerant compressors market; as well as Nextel, on consultation proceedings before the TDLC regarding the effects on competition of on-net/off-net rates and product bundling in the mobile telecommunications market.

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Within Corporate and M&A, Carey is a first tier firm,

Carey receives praise for its ‘expertise in all the matters it handles’, ‘very professional outlook’ and ‘remarkable ability to attract the best specialists in its teams’. The sizeable group includes nine partners and 23 associates and, among its leading figures, ‘seasoned practitionerJaime Carey has one of the most established reputations in the market. The firm has wide industry experience but continues to shine in the financial services and energy sectors. In a strong example of the team’s M&A expertise, Diego Peralta advised BBVA Group on the $1.5bn sale of its controlling stake in AFP Provida to MetLife, which included pension businesses in Colombia, Mexico, Chile, Peru and Ecuador. In another highlight, Francisco Ugarte assisted Banco de Crédito e Inversiones with a share purchase agreement for its $882.8m acquisition of City National Bank of Florida. Cristián Eyzaguirre displays ‘incredibly solid technical knowledge’ and impresses with his ‘creativity in dealing with his clients’ matters’; together with Salvador Valdés, he advised Warburg Pincus and General Atlantic on the $924m acquisition of 50% of Santander’s global asset management business, which spans eleven countries, mainly in Latin America and Europe. Other names to note at this ‘corporate giant’ are Pablo Iacobelli and Guillermo Acuña, who both recently advised Porsche on its acquisition of Maco Industrial y Comercial and subsidiaries, Claudio Lizana and firm chairman Jorge Carey.

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Within Dispute resolution, Carey is a first tier firm,

The ‘extremely modern, sophisticated and responsiveCarey is able to attract ‘top Chilean legal talent’ due to its ‘dominant position in the local market’ and is considered by many to be ‘far above everyone else’. Its lawyers are ‘tremendously well trained and knowledgeable in their field’ and act for Chilean and international companies, with particular expertise in environmental litigation related to a mix array of projects. Department head Gonzalo Fernández is highlighted as ‘a spectacularly talented litigator’ whose ‘record victories in local courts are drawing significant attention in the market’. He led a team that successfully represented GEC Alstom International in a $33m damage compensation claim brought by Mapfre before Santiago’s civil courts over alleged design defects and malfunctioning of a turbine sold to GasAtacama. He is also representing Fundación Isabel Aninat in complex claims filed by its founder’s heirs involving civil, commercial and canonical law. Other clients include Philip Morris International, MetLife and Kinross Gold Corporation. Also recommended are Jorge Carey (‘an inspired, visionary leader and a brilliant tactician’), and Ricardo Reveco.

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Within Environment, Carey is a first tier firm,

Co-led by Rafael Vergara, Juan Francisco Mackenna and Alberto Cardemil, Carey is well known for the breadth of its practice and draws on its top-tier capabilities in mining, oil and gas, projects and energy to provide advice on environmental matters. On the transactional side, the team assisted International Finance Corporation (IFC) and OPIC with an environmental due diligence process for the financing of two solar power plants. Litigation highlights included successfully representing Hidroeléctrica Ensenada in a constitutional action filed to challenge the environmental approval of a transmission line project. On the regulatory side, the team assisted Foster Wheeler Talcahuano with the compliance process for the PetroPower cogeneration plant. Other clients include Minsur, Pattern Energy and Hidroeléctrica Centinela.

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Within Insurance, Carey is a first tier firm,

Carey has a ‘more than perfect’ practice covering regulatory, corporate, M&A and commercial issues related to the insurance and reinsurance sectors and the local pension system. Clients particularly praise the team’s ability to act on large cases, and also esteem the cross-disciplinary support offered by the firm. The team is co-headed by Diego Peralta, Pablo Iacobelli, Marcos Ríos and Guillermo Acuña, who all have an excellent market profile and experience to match: recent work highlights include advising Mapfre Garantías y Crédito on its merger with Euler Hermes Seguros de Crédito via a credit insurance joint venture, Solunion Chile Seguros de Crédito (with effect in Chile, Colombia, Argentina, México and Spain); assisting Air Products with the review and analysis of its entire insurance program regarding the purchase of a 67% interest in Indura, and the analysis of its global umbrella policy insurance regarding fire loss; and advising HSBC (USA) Securities on compulsory investment restrictions and investments ratios for insurance companies within the framework of the execution of a repurchase agreement. Other representative clients include Metlife, Canada Pension Plan Investment Board and International Assistance Group.

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Within Intellectual property, Carey is a first tier firm,

Undoubtedly ‘one of the top law firms in the region’, Carey is widely considered ‘one of the best firms for IP’ due to its ability to ‘provide efficiencies and cost reductions to its clients’ while ‘constantly improving its level of service’. Indeed, clients say the firm is ‘the very best example of a business partner’ and praise its ‘great level of experience, legal knowledge and level of responsibilities’. Co-chaired by Guillermo Carey and Francisco Carey, who are both renowned names in the market, the team houses some superb talent and comprises 21 IP experts and a support team of eight non-lawyer patent specialists. As one would expect from a leading IP practice, the team handles the complete range of relevant work and has first-class experience in patent and trade mark prosecution, in addition to strong IP litigation expertise. Headline work includes assisting Wenco with the protection of all its intellectual property assets in Chile and abroad, which recently involved preventing a direct competitor obtaining registration rights over Wenco’s designs, defending it in a cancellation action and filing and prosecuting oppositions before the Chilean Patent Office. The team is also advising Chilean start-up company Biofiltro on the protection of its IP rights including trade marks, patents and trade secrets. Other clients include Societé de Produits Nestlé, PepsiCo, Merck and Synageva Biopharma. Team director Fernando García is also recommended.

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Within Labour and employment, Carey is a first tier firm,

Oscar Aitken’s 14-strong team at Carey witnessed the departure of practice director Paulina Miranda, who left in October 2013 to join boutique litigation firm GFCU Abogados. The firm has a strong reputation for advising national and multinational companies on employment issues, including terminations, compensation packages, the labour aspects of M&A transactions, social security and corporate policy matters. The group also has significant expertise in collective bargaining processes. Clients are drawn from the airline, mining, construction and pharmaceutical industries, among others.

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Within Projects and infrastructure, Carey is a first tier firm,

Carey has carved out a preeminent reputation for project finance work and also advises on the development of a significant proportion of Chile’s largest energy, mining and infrastructure projects. Juan Francisco Mackenna and Felipe Moro recently advised the lenders, including OPIC, IFC and Inter-American Development Bank (IDB), on a $1.2bn financing credit facility for the development of AES Gener and Antofagasta Minerals’ Alto Maipo hydroelectric project. The pair also assisted OPIC, IFC and Rabobank Chile with credit agreements to finance SunEdison’s $125m San Andres photovoltaic power project in Atacama. On the sponsor side, highlights included Mackenna advising SunEdison’s Amanecer Solar, Latin America’s largest photovoltaic solar power plant, on the terms and conditions for its interconnection to Tecnocap’s transmission line. Among ongoing mandates of note, Rafael Vergara is acting for Pattern Energy on the construction and operation of an $800m photovoltaic power plant, from environmental issues to land acquisition and related contracts; while Mackenna is advising Mainstream Renewable Power on the development of two wind farms and a photovoltaic project. Juan Guillermo Levine and Oscar Aitken are also recommended.

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Within Real estate, Carey is a second tier firm,

Carey calls on its top-rated infrastructure, corporate, environment and regulatory practices to assist clients in real estate matters. Alfonso Silva and Oscar Aitken are the key contacts. The team assisted JP Morgan Chase Bank with the negotiation of the long term lease of its new headquarters in Chile; and Orbital JLT with the negotiation of a long term agreement with Parque Titanium for its new offices in Santiago. Salvador Valdés also represented real estate developer Paz Corp in relation to authorisations to develop a residential and office project in Vitacura. Other clients include H&M, Herbalife International and Nextel Chile.

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Within Tax, Carey is a first tier firm,

The ‘sophisticated’ 19-strong tax practice at Carey scores points for the ‘responsiveness and vast knowledge of its team’, which ‘understands its clients’ goals and proactively helps developing solutions’. Tax co-heads Jessica Power and Alex Fischer are highly sought after and peers say they are ‘standout names for tax advice in Chile’. In addition, managing Jaime Carey is highly regarded for non-contentious matters. The team maintains a strong reputation for tax consulting and tax due diligence that positions it as a first choice for the full spectrum of tax services alongside the country’s largest auditing firms. It fields an excellent transactional support practice, evidenced by its recent advice to British Gas Chile, on the $176m sale of its 20% stake in GNL Quintero to Terminal de Valparaíso. In another highlight, it assisted Christus Health with its $205m acquisition of Red de Salud Universidad Católica, one of the country’s largest private healthcare groups. The team is also highly active in capital increases, issuance of bonds and company reorganisations and advised Siemens on all tax matters related to a public bidding offer for the construction of new lines on Santiago’s metro network. Other representative clients include Enersis, Goldman Sachs, and Codelco. Senior auditor Boris León, who had recently made partner (and led the tax audit practice), left to join KPMG in July 2013.

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Within TMT, Carey is a first tier firm,

Carey’s practice is built around the expertise of team co-heads Alfonso Silva and Eduardo Martin, who are both leading names in the country’s TMT arena. The combination of the firm’s strength in corporate, finance and regulatory matters makes it ideal for complex operations with telecom regulatory elements, although its pre-eminence also covers judicial disputes and antitrust matters. Work highlights included advising British Telecom on regulatory matters in relation to its application to three telecom concessions (telephone, data transmission and satellite); and Nextel on all corporate, commercial, financial and regulatory aspects of its 3G telecoms project for Chile, including the deployment of its mobile network. Other clients include VTR Global Com, Star One, Televisa and Motorola Solutions.

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Chile : Energy and natural resources

Within Electricity/oil and gas, Carey is a first tier firm,

Described by some as ‘the best team in the country’, Carey has a ‘fantastic knowledge of the power industry and project finance’ and, while ‘a little pricey’, the team has ‘the expertise and deep bench to justify it’. Department head María Fernanda Carvajal is ‘extremely competent and knows power purchase agreements inside-out’. The firm has significant experience in a wide variety of energy and oil and gas industries including coal, natural gas, hydropower, LNG and renewables and it advises both public and private companies on project implementation, financing and refinancing matters. On the gas and shale-gas side, Juan Guillermo Levine and Carvajal led a team advising Codelco on several agreements with Sociedad GNL Mejillones in relation to the Mejillones LNG Terminal. The team is also notably involved in projects related to floating storage regasification units, a cutting edge legal space in Chile. Juan Francisco Mackenna heads the electricity practice and advised SunEdison on a power purchase agreement with CAP to finance a $250m photovoltaic solar power project, one of the largest of its kind in Latin America. The ‘terrificFelipe Moro has ‘deep knowledge in project finance’ and assisted OPIC, IFC and Rabobank Chile with a $257.5m credit agreement granted to SunEdison. The ‘very good senior team’ also includes Alberto Cardemil.

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Within Mining, Carey is a first tier firm,

Full service powerhouse Carey is known for its reputation in major transactions in the mining sector and acts for project owners, sponsors and financiers alike across all stages of mining projects, including exploration, development, exploitation and mineral processing. The firm also has a strong supplementary capability in water, land-use rights as well as environmental, community and technical matters. The highly regarded Rafael Vergara heads the team, and recently advised Teck Relincho on the implementation of a $3bn copper project. He also assisted Minsur with its acquisition of a number of mining concessions from Cementos Melón. The firm has a growing mining litigation practice; alongside dispute resolution head Gonzalo Fernández, Vergara represented Kinross in a $40m arbitration claim. Ongoing highlights include acting for Codelco in the judicial constitution of mining easements for the company’s projects in northern Chile, and Teck Quebrada Blanca in the expansion of its $6.2bn hypogene project. Juan Francisco Mackenna and Alberto Cardemil are also recommended.

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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.

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