The Legal 500

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

Chile

Top-tier recommendations

Recommendations


Chile

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

Led by Diego Peralta and Juan Guillermo Levine, Carey’s highly regarded banking and finance practice is prominent in both the domestic and international markets. Thanks to the firm’s impressive corporate client roster, the team regularly acts on the borrower side of high-value project financing and acquisition transactions. Levine, María Fernanda Carvajal and Cristián Eyzaguirre acted for Codelco’s Gacrux subsidiary on an $875m loan agreement with Oriente Copper Netherlands, a subsidiary of Mitsui Group, for the refinancing of an existing bridge loan. Jaime Carey and Marcos Ríos assisted US publicly traded company Air Products and Chemicals with a $778m loan facility from Banco Santander Chile to finance its acquisition of a 67% stake in Indura, the largest independent industrial gas company in Latin America. The ‘smart, committed and reliableFelipe Moroknows the ins and outs of myriad financing issues’ and recently led a team advising Pacific Hydro on the refinancing of a syndicated loan facility. The group also boasts strong links with major international and Chilean financial institutions, which it advises on a wide range of issues, including loans, equity and debt securities, project financings and debt restructurings. Moro and Francisco Ugarte recently advised Chase Bank, acting as single commercial lender, on a $2.5bn loan granted to Chile’s largest retailer, Cencosud, for its acquisition of the Colombian assets of French multinational retailer Carrefour. The team had previously worked with JPMorgan Chase (and other lenders) on a $750m short-term loan to Cencosud.

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

Building upon its ‘size, professional level and deep knowledge of the market and its stakeholders’, Carey leads ‘at the upper end of the local market’, providing ‘full assistance’ and an ‘amazing level of commitment and support’. Clients highlight the team’s expertise as ‘second to none in the country’, making it ‘a great partner in any business or legal matter’. An ‘impressive lawyer in competition matters’, Claudio Lizana is described as ‘a greatly experienced and strategic thinker who provides very detailed work’; whilst ‘shining on her own’, Lorena Pavic ensures ‘great results are achieved’; they both ‘do a remarkable job’ leading the team. The firm advises on merger control cases before the Chilean Competition Tribunal (TDLC), and also advises clients on antitrust investigations. A major highlight for Pavic has been representing Roche Laboratories in a $20m claim brought by Laboratorio Recalcine over alleged sham litigation and abuse of dominant position; rejected by the TDLC, the case is now before the Supreme Court. On the antitrust side, she acted for Farías Quevedo Family before both the TDLC and the Court of Appeals, in relation to alleged cartel practices in the bus transportation industry. Meanwhile, Lizana has been advising Nextel on consultation proceedings regarding on-net/off-net price-rates for mobile calls and their effect on competition.

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

Providing an ‘excellent service in the corporate area’, Careytowers above all others in Chile in a way that has no parallel in any other country in Latin America’. The large team, which features a number of outstanding practitioners, is reputed for its ‘superior knowledge of Chilean corporate law’ and provides ‘efficient and thorough responses’ to an impressive roster of international and domestic clients. Firm chairman Jorge Carey represented multinational electric power corporation Enersis, controlled by the Spanish Endesa, in a $5.9bn capital increase, the largest to have ever taken place in Chile. In the energy sector, ‘excellent’ managing partner Jaime Carey, who is praised as being ‘both experienced and pragmatic’, teamed up with Marcos Ríos and Claudio Lizana to advise the US-based Air Products and Chemicals on its $884m acquisition of a 67% stake in industrial gas company Indura. In the construction and infrastructure industry, Lizana and M&A specialist Francisco Ugarte assisted Canada Pension Plan Investment Board with its $1.1bn acquisition of a 49.99% stake in Chile’s largest urban toll road operator Grupo Costanera. Another similar highlight saw Salvador Valdés advising Canadian asset management company Brookfield Asset Managemet on its $299m acquisition of a 45.45% stake in the Vespucio Norte Express toll road from German construction company HOCHTIEF Solutions. In an illustration of the growing interest of Peruvian businesses to invest in Chile, Ugarte assisted the largest Peruvian consumer goods company, Alicorp, with its acquisition of local fish-feed company Salmofood. The firm also has prominent experience in joint ventures, and Lizana recently advised Mitsui on a joint venture agreement with Chilean salmon and trout producer Multiexport foods. Cristián Eyzaguirre and tax partner Jessica Power recently advised French hotel group Accor on its $275m acquisition of Grupo Posadas’ South American hotel portfolio; while Diego Peralta and Felipe Moro advised British Gas on its $176m sale of half of its equity share in liquefied natural gas plant GNL Quintero to Enagás. Also recommended are Pablo Iacobelli and Guillermo Acuña.

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Within Dispute resolution, Carey is a first tier firm,

Praised for its ‘fabulously modern mentality’, the ‘consistently reliable and responsive team’ at Carey provides a service valued by many as ‘unfailingly top-notch’. ‘Exceptional attorney’ and ‘consummate gentlemanGonzalo Fernández is at the helm of the practice and is ‘widely recognised’ for his ‘brilliant work, strategy skills and lucid argumentation’ – which combined with his ‘contagious confidence’, provide clients with great security. The team has an outstanding track record in complex environmental and natural resources litigation and its areas of expertise also include the enforcement of foreign judgments and complex international arbitration. Recent work of note includes Fernández’s representation of Philip Morris in a damages case arising from anti-competitive practices, heard before the Court of Appeal and the Supreme Court, against the Chilean affiliate of British American Tobacco. In intellectual property matters, the team successfully acted for Nestlé in Supreme Court proceedings in relation to the registration of its Sahne Nuss brand. Another court success was Fernández’s representation of salmon-producer Congelados Pacífico in arbitration proceedings against insurance company Chilena Consolidada and its reinsurers in connection with the 2008 salmon-anemia virus crisis. Also recommended is Jorge Carey, ‘a master strategist and diplomat’ with ‘unfailingly accurate instincts’. Ricardo Reveco was promoted to the partnership.

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Within Environment, Carey is a first tier firm,

Transactional behemoth Carey has strong experience advising its clients on the environmental aspects of due diligence processes in relation to large acquisition transactions, as well as regulatory compliance matters and environment assessments. The firm has an enviable track record in environment-related litigation under the lead of Gonzalo Fernández, and the strength of its energy practice ensures a steady flow of clients from the renewable and non-renewable natural resources sector including local and international mining, oil and power generation companies. Juan Francisco Mackenna has recently been advising Andes Mainstream Renewable Power on the environmental aspects of all its wind and solar projects in Chile. Also recommended are Rafael Vergara and Alberto Cardemil, who have been assisting Teck Quebrada Blanca on the expansion of a $5.5bn copper and molybdenum project.

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Within Insurance, Carey is a first tier firm,

The ‘very attentive and committedCarey is highly rated for the strength and expertise of its insurance practice. The ‘conscientious, experienced’, team regularly acts for major Chilean and international insurance companies on corporate and M&A matters and is praised for demonstrating ‘a genuine interest in its clients’ businesses’. Team head Diego Peralta led a team that advised BBVA on the $1.5bn sale of its controlling stake in private pension fund administrator AFP Provida to Metlife, including its pension businesses in Colombia, Mexico, Peru and Ecuador. Oscar Aitken assisted Integro Reinsurance Company with its entrance into the Chilean market through Mackinlay Reaseguros. Further to advising insurance industry clients on corporate and M&A matters, the team also advises on insurance regulatory issues. Recent clients include ERGO Group, Zurich Latin America and Metlife and the recommended Marcos Ríos and Pablo Iacobelli are both reported as ‘consistently good’.

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Within Intellectual property, Carey is a first tier firm,

Sources highlight Carey as ‘one of the best IP firms in the region’ that ‘distinguishes itself through its particular expertise in patent and regulatory law’. With ‘full expertise in the IP field’ and ‘constantly updated on the latest industry trends and related normative environment’, the practice draws praise for its ‘efficient, high-quality and extremely professional service’. The 30-strong and ‘highly professional’ team, is led by the ‘knowledgeableGuillermo Carey, an ‘eminent practitioner in the market’, and can also draw on the expertise of nine non-lawyer patent specialists. The firm’s expert knowledge, strength in regulatory and litigation matters, and filing capacity, has attracted a notable pharmaceutical-industry client base, including Roche, Abbot, Pfizer and GSK, as well as the most innovative companies such as Crystal Lagoon. Team director Fernando García has recently been defending Novartis Chile in litigation proceedings before the Council for Transparency in relation to denied access to scientific information contained in a health registration file. In a high-profile win, the firm assisted Limited Brands with the negotiation for the suspension of unauthorised Victoria’s Secret fashion shows in Latin America. Newly made-up partner Francisco Carey has been advising Argentine firm Todomoda on the franchise and licence agreements with Chilean partners to expand its operations into Chile, Mexico and Peru. The ‘responsive, sharp and efficient’ Francisco and Guillermo Carey are described as ‘just the best’, and the team as ‘the best example of how a law firm can become a real business partner’.

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

Rated as ‘excellent on all counts’, full-service firm Carey is instructed by significant Chilean and international companies. The practice group advises on the employment aspects of market-leading corporate transactions, particularly those with international aspects, and also represents clients in contentious matters, as required. The highly dynamic team has particular knowledge of a number of industries (including airlines, direct sales, mining, construction and pharmaceuticals) and also includes a sub-group specialised in immigration services. The 11-lawyer team is led by expert Oscar Aitken and the ‘experiencedPaulina Miranda, who ‘provides practical and solid advice’. Highlights included advising Canadian construction-management company Hatch on its purchase of Chilean companies Procon Geocontrol, Procon Servicios and Procon Ambiental, involving a full labour due diligence process. Other key clients include American Airlines, Mitsui and Brasil Foods.

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

Carey has a top-flight reputation for project finance, and department head Juan Guillermo Levine has extensive experience advising on the financing of long-term infrastructure, mining, energy, industrial and utilities projects. The eight-partner team displays strength across the board, and assists clients with all aspects of the development and implementation of large and complex projects, combining its industry knowledge with the firm’s wider expertise in M&A, securitisation, energy regulation, tax, bankruptcy, environmental regulation and international trade. The firm excels at both lender and borrower work and Juan Francisco Mackenna recently advised the International Finance Corporation (IFC) and OPIC on risk assessment matters in relation to the $1.4bn financing of the controversial Alto Maipo hydropower project. On the borrower side, he and Felipe Moro assisted Andes Mainstream and AM Eólica Negrete with a $52m credit agreement for the financing of a wind project with the China Development Bank (CDB). Other clients include Codelco, Pacific Hydro and Complejo Portuario Mejillones. Oscar Aitken and Rafael Vergara are also highly recommended.

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Within Real estate, Carey is a third tier firm,

The compact team at Carey is part of the firm’s wider engineering and construction group led by the experienced Oscar Aitken, and provides key support to the firm’s other departments (primarily infrastructure, natural resources, energy and TMT) in addition to handling stand alone matters. Director of regulatory matters Eduardo Martin is active in the area, applying his telecoms and regulated industries know-how to project financing and construction matters. Recent highlights have included advising JPMorgan on contractual matters in relation to its new corporate offices in Santiago; and US-based cranberry producer Driscoll’s on the sale and lease of a number of agricultural properties in central and southern Chile.

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Within Tax, Carey is a first tier firm,

With three partners and a team of 18 dedicated to the full spectrum of tax work, Carey is the only full-service firm in Chile that stands on a par with the country’s largest auditing firm. Co-headed by the highly regarded Jessica Power and ‘very intelligent attorneyAlex Fischer, the group is adept at tax planning, litigation proceedings and settlements with Chile’s tax authority (SII), and has in recent years strengthened its capabilities in tax due diligence and tax compliance matters. Notably, the practice houses a tax-auditing team directed by the newly promoted Boris León, which focuses on tax consulting and due diligence processes. Among recent highlights, Power advised the Canada Pension Plan Investment Board on all tax matters in relation to its $1.1bn acquisition of a 49.99% stake in Grupo Costanera. Meanwhile, Fisher assisted Codelco with tax restructuring and settlements in the framework of its dispute with Anglo American. In another deal of note, the team advised Air Products on the tax aspects of its $884m acquisition of a 67% stake in Indura. Jaime Carey is also recommended.

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Within TMT, Carey is a first tier firm,

The ‘excellent TMT practice’ at Careyfar exceeds clients’ expectations’ with ‘the depth of its analysis, the strength of its bench and its general level of expertise’. Peers and clients alike highlight team heads Alfonso Silva and Eduardo Martin, ‘both are extraordinary’; the ‘very intelligent’ Silva is singled out for his ‘outstanding legal flair’, and for ‘experience and commercial awareness’ that is ‘above comparison’: he is ‘the best partner one could have when facing legal battle’; and the ‘brilliant, meticulous and clever’ Martin ‘provides the best quality work in the shortest times’. The team recently advised Nextel Chile on all aspects of the new telecom-antennae regulations; Motorola Solutions Chile on the Chilean government’s project to set up a national emergency communications network; and John Deere on regulatory matters in relation to its telematics business. The firm is praised for its ability to ‘handle all the specialities needed to assist a multinational company’.

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Chile: Energy and natural resources

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

Carey is ‘top in the field of hydrocarbons’, providing ‘top- quality work’ on the back of its ‘excellent depth and knowledge’ and boasting ‘expert knowledge of power regulations’. The four-partner group is praised for its ‘comprehensive skills, very good industry knowledge’ and ‘a bunch of attorneys that stand out from others in the region’, including practice heads Juan Francisco Mackenna and María Fernanda Carvajal, Juan Guillermo Levine and Alberto Cardemil. The team advises domestic and international clients as well as the public sector on the implementation, financing and refinancing of some of the country’s most cutting-edge energy and oil and gas issues, including projects related to LNG and attendant floating storage and regasification units. ‘Top lawyer’ Carvajal is ‘smart, deeply knowledgeable and a pleasure to work with’ and provides ‘extremely good advice’, particularly in the gas arena. The firm houses a strong and diversified non-conventional renewable energy practice and recently advised US-based SunEdison on a power purchase agreement with CAP to finance a $250m solar power project. It also assisted Andes Mainstream and AM Eólica Negrete, as borrower, on a $52m credit agreement with China Development Bank (CDB).

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Within Mining, Carey is a first tier firm,

Housing one of the largest mining practices in Chile, Carey has excellent credentials in metallic and non-metallic mining matters and stands out for its comprehensive and multidisciplinary approach, combining mining mandates with water, land-use rights as well as environmental, community and technical expertise. The firm is especially renowned for its fine cross-border capability and broad experience in negotiating sophisticated mining-related agreements, and also has a growing mining litigation practice. The team is regularly instructed by mining companies on transactions and recently advised Chilean copper producer Codelco on its $400m acquisition of a mining concession owned by Anglo American. It also assisted Marubeni with its $360m acquisition of a 30% stake in the Antucoya copper project from Antofagasta Minerals and continues to represent Teck Quebrada Blanca on the expansion of its $5.2bn hypogene project. In other work, the group assisted Teck Relincho with the implementation of its $3bn copper project. The firm fields an enviable bench of mining experts, including practice head and leading market practitioner Rafael Vergara, along with Juan Francisco Mackenna and Alberto Cardemil.

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