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Chile : Banking and finance
Within Banking and finance, Carey is a first tier firm,
Full-service powerhouse Carey's prominent and experienced banking practice is part of a broader banking, project finance and insurance department. Co-led by Diego Peralta and Juan Guillermo Levine, the sizeable team has the capcity and sophistication to handle the full array of matters relating to financial service providers and their activities. Recent work has seen the team advise telecom-company VTR Wireless on obtaining a $130m secured loan facility from a syndicate of banks led by Banco de Crédito e Inversiones; assist the Banco de Chile in connection with its public offering of over 3.3bn common shares (and its registration with the U.S. Securities and Exchange Commission); and act for Deutsche Bank Securities and HSBC Securities on a $1bn international bond placement by the Republic of Chile. On the transactional side it represented the ING Group on the Chilean leg of its $3.8bn regional asset sale to Grupo SURA. The team is also busy advising banks and other financial service providers in relation to recent legislation creating a national financial consumer protection agency (SERNAC Financiero). While the finance and retail industries form part of the team's core client base, the practice has been at its busiest on finance issues relating to the currently buoyant mining sector. A case in point would be its advice to Chile's National Copper Corporation (Codelco), which it assisted in securing a $6.75bn loan facility (to acquire an interest in Anglo American's Sur complex), and in the successful placement of a $1.15bn bond issuance. The team can also call on the immense knowledge of the practice group's senior member Jaime Martínez, particularly on project financing matters.
Chile : Competition and antitrust
Within Competition and antitrust, Carey is a first tier firm,
Clients describe the team at Carey ‘in one simple word: excellent'. They praise the quality of the delivered work and analysis, the level of professionalism and commitment that ‘could simply not be any better' and makes the practice ‘one of the best in Chile'. The firm boosted its competition expertise in 2011 with the arrival of economist María Elina Cruz as of counsel, and has the necessary resources to handle the constantly growing number of instructions received by the department. Lorena Pavic is highly recommended and her strategic thinking, attention to detail and level of engagement are highlighted as being ‘second to none'. She led the team that represented Philip Morris in an antitrust claim against British American Tobacco over exclusionary practices in the distribution and advertising of cigarettes. In other work, the team defended: Roche Laboratories in very high-profile proceedings brought by Laboratorio Recalcine over alleged sham litigation and exclusionary practices; Sanofi-Aventis against Laboratorio Chile in an exclusionary practice case; and Nextel in a claim regarding price discrimination and bundling. Pavic leads the team in conjunction with Claudio Lizana, a senior member of the corporate team who serves as Chile's representative at the ABA antitrust committee.
Chile : Corporate and M&A
Within Corporate and M&A, Carey is a first tier firm,
Comprised of 12 partners and 19 associates, Carey's sizeable and highly specialised corporate group is a key element of the most comprehensive legal service offering in the market. Clients praise its ‘high international standards' and ‘unflappable commitment to its clients' interests'. Despite a slight decline of M&A transactions in the country in line with the hampered global economy, the team has been involved in the most sophisticated transactions in the country's recent history. Partly based on its excellent reputation and partly on the management's ability to retain the most talented and leading M&A lawyers in the partnership, the team attracted innumerable mandates from prominent multinational companies. Diego Peralta, Jessica Power and Felipe Moro were involved in the Chilean leg of ING's $3.8bn sale of its Latin American pension, insurance and investment management assets to Colombian holding company Grupo Sura. The infrastructure sector also generated significant work for the team. The Canadian company Brookfield Asset Management instructed Peralta, Moro and Salvador Valdés on its acquisition of stakes in the Túnel San Cristóbal and toll road Vespucio Norte Express for $330 million. The firm also acted for the Canada Pension Plan Investment Board in its $1.14bn acquisition of a stake in Chile's largest urban toll road operator Grupo Costanera. (Swedish company Electrolux AB) Senior partner Jorge Carey, Valdés and Cristián Eyzaguirre advised on its $670m acquisition of Compañía Tecno Industrial. The firm's demonstrable experience in the mining industry makes it a leading port of call for the world's largest mining companies. A team formed by Valdés, Juan Guillermo Levine, María Fernanda Carvajal and Eyzaguirre assisted the Chilean copper producer Codelco with the sale of 40% of its stake in power company E-CL, for a final amount of $1.038bn; the transaction was the largest sale of shares to have ever taken place on the Santiago stock exchange. Also of note was Rafael Vergara and Francisco Ugarte's advice to Polish mining company KGHM on its $3.5bn acquisition of 100% of the Canadian company Quadra FNX Mining.
Chile : Dispute resolution
Within Dispute resolution, Carey is a second tier firm,
An ‘outstanding litigator' and ‘incredibly bright', Gonzalo Fernández heads the litigation department at Carey, the ‘most prestigious and dominant firm in the market'. Fernández is 100% devoted to contentious work, and the ‘most respected lawyer in the country', senior partner Jorge Carey brings the practice his particular expertise in international litigation and investment arbitration. The 12-strong team's clients come primarily from the financial, construction and insurance sectors and it frequently receives instructions from large international companies. The team has been advising the Republic of Chile in the much-reported and long-running case brought by Clarín newspaper's owner Victor Pey and Fundación Salvador Allende over the expropriation of Clarín during the 1980's; Fernández has recently represented the Republic in the annulment proceeding in Paris before an ad-hoc committee. The team has also successfully advised clients in environmental proceedings, including representing hydroelectric power company Electroaustral before the Supreme Court in a complex case against the city of Linares concerning its Achibueno project. Fernández is acting for large salmon producer Congelados Pacífico in a multimillion-dollar arbitration proceeding against Chilena Consolidada and its reinsurers; and acting for Philip Morris against British American Tobacco over the alleged exclusionary conduct of the latter, currently before the Supreme Court.
Chile : Energy and natural resources: mining
Within Energy and natural resources: mining, Carey is a first tier firm,
At Carey, ‘the level of service of the energy and natural resources group co-headed by
Rafael Vergarais excellent'. Vergara is praised as being ‘one of the leading mining lawyers in Chile and worldwide', as well as ‘a very solid lawyer in other areas, which allows him to deliver reliable and deep advice'. Clients note that he has also been ‘very successful in transmitting his devotion to his work to all younger members of his team', a team that is adept at advisory and litigation work and described as ‘committed and thorough' and ‘business-oriented', and which wins plaudits for ‘always having its clients' needs and industry practice in mind'. On the project financing side, the team advised Marubeni on its negotiations with Antofagasta Minerals in relation to a $40m copper project; acted for Teck Quebrada Blanca on the $4.5bn planned expansion of its hypogene project; and advised Teck Relincho on the implementation of a $3bn copper project. It is also regularly instructed by mining companies on M&A transactions; recent instructions include assisting Polish copper and silver-producer KGHM on its acquisition of Canadian base-metal producer Quadra FNX Mining; and advising Codelco on the financing of its acquisition of 49% of Anglo Sur with a $6.75bn loan granted by Mitsui. Vergara co-heads the team with Juan Francisco Mackenna. Alberto Cardemil is also recommended.
Chile : Energy and natural resources: oil and gas/power generation
Within Energy and natural resources: oil and gas/power generation, Carey is a second tier firm,
Carey is ‘very well-connected' and has ‘up to date industry knowledge'; its service is compared by one satisfied client to that of a luxury car: ‘it brings you comfort, speed when needed and quality in all things'. On the electricity side, the ‘very business-minded' team advised Andes Mainstream Renewable Power on the development of several projects in Chile, and acted for Spanish company Hidroeléctrica Río Lena on obtaining water rights for hydropower project developments. It was also busy in the hydrocarbons sector, assisting Codelco with a $48m natural gas supply agreement with GasValpo, and a $1.8bn power purchase agreement with Norgener to supply two different mining projects. In addition, the team previously handled the county's two liquefied natural gas projects, Mejillones and Quintero. Alberto Cardemil is the team's water specialist, and Juan Francisco Mackenna and María Fernanda Carvajal are held in high regard for the breadth and depth of their energy sector practices.
Chile : Environment
Within Environment, Carey is a first tier firm,
The ‘very solid' Rafael Vergara heads the three-partner-strong environmental department at Carey, which not only assists on environmental issues in connection with energy projects but also has vast experience advising on international regulations, and environmental, health and sanitation law in relation to business operations generally. Vergara advised industrial waste disposal and treatment company Hidronor on environmental compliance and permit matters. A varied caseload saw Gonzalo Fernández successfully represent hydropower company ElectroAustral before the Supreme Court so as to obtain the approval necessary to develop its Centinela hydroelectric project. Juan Francisco Mackenna assisted HBS Energía with the qualification of its bio-gas electricity generation plant as a Clean Development Mechanism project as defined by the Kyoto Protocol. The team also regularly advises Pepsico.
Chile : Insurance
Within Insurance, Carey is a first tier firm,
Marcos Ríos and Pablo Iacobelli co-head the growing practice at Carey, which leverages its global corporate know-how in its insurance work and is recognised as a go-to firm for insurance-related transactions. While Iacobelli built his expertise advising insurance companies on the M&A side of the business, Ríos acquired his by representing the insured on damage negotiations. The firm’s list of clients is predominantly made up of large international insurers such as MetLife, Zurich, Euler Hermes and United Health Group, but also features some companies on the insured side, particularly on directors and officers liability cases and regulatory issues, including GlaxoSmithKline and Foster Wheeler. On the M&A side, the team advised MetLife Chile Seguros on its merger with La Interamericana Seguros de Vida, and acted for Zurich Financial Services on its acquisition of 51% of the insurance operations of Santander in Uruguay, Mexico, Brazil, Argentina and Chile. It also acted for ING on the Chilean leg of the sale of its Latin American life insurance and pension businesses to the Colombian holding company Grupo Sura. On the insured side, the team advised financial institution Coopeuch in connection with its D&O insurance policy.
Chile : Intellectual property
Within Intellectual property ,
Fielding the largest number of lawyers and technical experts among IP practices in the country, HarneckerCarey, the IP arm of the powerhouse Carey firm, has the necessary resources to manage an impressive portfolio of patents and trade marks without outsourcing. The team draws upon the firm's strengths in other areas of the law, its 30 full-time litigators in particular, to combine its filing work with a fine IP litigation service. The team is notably strong on the innovations-side of the pharmaceutical industry, with five lawyers and nine technical professionals specialising in life sciences. It handles patents, trade marks and regulatory matters, winning praise from its mainly multinational clientele for its integral coverage of IP issues. Practice head Guillermo Carey, together with team director Fernando García and managing partner Jaime Carey, advised the 33 Chilean miners who were trapped in the San José mine for over two months in 2010 on the protection, licensing and sale of their IP rights in relation to their life experience. Guillermo Carey has been busy lately assisting Crystal Lagoons with the licensing, and patent and trade mark registrations, related to the almost global exportation of its technology. The team also successfully represented CEGELEC before the Supreme Court on a trade mark case.
Chile : Labour and employment
Within Labour and employment , Carey is a first tier firm,
Carey's ‘very knowledgeable and precise' labour practice stands out as a real international team able to advise clients worldwide in a very country-specific area of the law. Its capability spans social security, restructuring, due diligence and discrimination matters, while the team has also developed an expertise in specialised areas of employment law such as that applicable to international airlines. The practice's sub-division devoted full time to immigration issues attracts a large number of clients to the firm. Highly regarded Oscar Aitken and Paulina Miranda co-head a dozen-strong team which, in recent work highlights, has advised a major international airline on a collective bargaining process; a large European insurance and finance company on the sale of its Chilean subsidiaries; and acted for the employer in one of the country's first wrongful dismissal cases involving non-compete covenants.
Chile : Real estate
Within Real estate, Carey is a second tier firm,
Marcos Ríos heads the ‘very responsive and available' real estate and construction team at Carey. In addition to the firm's own significant real estate project, which saw the firm relocate to the top floors of South America's tallest building Titanium La Portada, the team advised a number of real estate development companies on agro-business, retail, office and residential projects. Ríos was instructed by a US multinational company in a comprehensive real estate due diligence process as part of a $1.4bn stock acquisition, involving the title searches, permits, land use and zoning matters of more than 40 properties. He also advised Chilean IT company I.O. Group on the acquisition and financing of its new commercial offices.
Chile : TMT
Within TMT , Carey is a first tier firm,
Alfonso Silva's team at Carey is praised for its ‘excellent industry knowledge'. It covers the full range of TMT, and recent mandates include advising Motorola Solutions on the government's project to create a national emergency communication network and on the multimillion-dollar sale of its network and infrastructure operations to Nokia Siemens. The team also advised Nextel Chile on the country's new antenna regulations (approved by Congress in January 2012), while the firm's regulatory matters director Eduardo Martin acted for the company on the deployment of its 3G network in Chile.
Chile : Tax
Within Tax, Carey is a first tier firm,
A ‘highly skilled and excellent lawyer', managing partner Jaime Carey heads the go-to team at Carey, which covers the full spectrum of tax services. The practice group has grown to comprise 18 lawyers devoted full-time to tax planning, due diligence, compliance, and litigation mandates; in addition to four auditors, including one engineer, in charge of tax consulting and due diligence matters. Department co-heads Alex Fischer and Jessica Power are both extremely well reputed, particularly for corporate tax planning and international tax consulting. Fischer was formerly at Ernst and Young; Power recently advised on the tax aspects of the local leg of ING's sale of its Latin American life and pension operations to Colombian holding company Grupo Sura. Another headline mandate in an exceptional 2011 saw the tax team involved in advising Codelco on the financing of its acquisition of an interest in Anglo American's Sur complex. The experienced up-and-coming associate Luis Seguel, is adept at representing clients in large tax lawsuits before the IRS and the judiciary alike. He successfully acted for Aguas Andinas in a multimillion-dollar tax refund case, and advised New Zealand investment company Rank Group on a tax remission and audit process matter. The firm is further able to provide tax compliance services through its wholly-owned affiliate Gestión Global, comprised of 12 accountants.
Further information on Carey
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Offices in Santiago
- Banking and finance : Banking and finance
- Competition and antitrust : Competition and antitrust
- Corporate and M&A : Corporate and M&A
- Dispute resolution : Dispute resolution
- Energy and natural resources: mining : Energy and natural resources: mining
- Energy and natural resources: oil and gas/power generation : Energy and natural resources: oil and gas/power generation
- Environment : Environment
- Insurance : Insurance
- Intellectual property : Intellectual property
- Labour and employment : Labour and employment
- Real estate : Real estate
- TMT : TMT
- Tax : Tax