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3477 ISIDORA GOYENECHEA AVENUE, 19TH FLOOR, 7550106 LAS CONDES, SANTIAGO, CHILE
Tel:
Work +56 2 2472 7000
Fax:
Fax +56 2 2472 7001
Email:
Web:
www.moralesybesa.com

Chile

Banking and finance
Banking and finance - ranked: tier 1

Morales & Besa

Morales & Besa's 'truly professional and hardworking team has deep knowledge of Chilean legal issues'. It fields experts in restructuring, syndicated loans, structured finance, derivatives, regulatory matters and distressed debt, and it is experienced in industries such as retail, real estate, mining, energy, utilities and infrastructure. In project finance, the group acts for developers, sponsors, lenders, multilateral institutions, guarantors and EPC contractors on project structuring, financing, and construction and contractual issues. On the non-transactional side, the group regularly assists companies with licensing, regulatory and compliance matters. Notable clients include Enjoy, Los Guindos Generación, Banco BICE and Japan's SMBC. Myriam Barahona and José Miguel Carvajal are the department heads; recent mandates saw Barahona lead advice to BCI Asesoría Financiera concerning syndicated loans granted to two companies of the Vías Chile Group; and Carvajal assist Banco de Crédito e Inversiones with the amendment of the outstanding debt of CorpGroup holding group members. Other matters saw name-partner Guillermo Morales, who is 'one of the first lawyers clients in Chile should call with difficult questions', act for retail conglomerate Cencosud, as borrower, on a loan facility granted by EDC to refinance existing indebtedness. Co-founding partner Eugenio Besa , Carlos Silva and Matías Langevin (who is 'very focused on the key details that can often make or break capital markets deals') are also all highly-regarded practitioners. At senior associate level, Ignacio Menchaca and Javier Balbontin are the key names; former senior associate Ignacio Delpino moved in-house to Banco Security.

Leading individuals

José Miguel Carvajal - Morales & Besa

Myriam Barahona - Morales & Besa

Rising stars

Ignacio Menchaca - Morales & Besa

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Competition and antitrust
Competition and antitrust - ranked: tier 3

Morales & Besa

The five-strong team at Morales & Besa focuses on antitrust litigation and FNE investigations, pre-merger filings and compliance advice. Headline work saw the team successfully advise Iron Mountain and Storbox on the subsciption of a conciliation agreement with the FNE, thereby ending a $1m litigation for an alleged breach of an extrajudicial settlment agreement; on the merger-clearance front, it assisted Praxair with the FNE clearance of ithe Chilean aspects of its $80bn global merger with Linde, among other matters. The practice is co-lead by Gonalo Cordero and former FNE anti-cartel unit head at the FNE, senior associate María José Henríquez.  Also formerly at the FNE, mid-level associate Claudia Arce -who arrived at the firm in January 2018- is noted. Clients include Abertis Infraestructuras, SSA Holdings International Chile; Acciona Aeropuertos, SMU and EIG Global Energy Partners.

Rising stars

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Corporate and M&A
Corporate and M&A - ranked: tier 2

Morales & Besa

Morales & Besa¬†'takes the time to explain things in detail to its clients'. The 28-strong practice¬†has significant cross-border transactional experience and is particularly noted for¬†the sale of state-owned enterprises and handing concession award bids to operate state-controlled activities; it also regularly assists with significant corporate governance matters, strategic associations and corporate restructuring, as well as the design and implementation of compliance programmes, anti-corruption policies and self-regulation. Recent mandates saw the team act for the shareholders of Aguas Cha√Īar on the company's $100m sale to Marubeni and Toesca Asset Management; advise two SMU subsidiaries on the $76m sale of Construmart to Private Investment Fund Hammer; and assist AAS and Acciona Aeropuertos on the acquisition of Latam Airlines Group's ground handling business at Santiago‚Äôs International Airport. Founding partners Guillermo Morales¬†and Eugenio Besa co-head the team;¬†Macarena Laso,¬† Carlos Silva, Michel Diban, Mat√≠as Langevin¬†and¬†√Ālvaro Barriga¬†are also experienced partners.¬†An excellent professional', Edmundo Varas was promoted to partner; and Lorena Barrientos became the firm's first-ever counsel. Associate Mar√≠a Teresa Manubens B is also noted. Clients include Cencosud,¬†Bank of America Merrill Lynch, Acciona Airport Services (AAS), Globalv√≠a and The Carlyle Group.

Leading individuals

Guillermo Morales - Morales & Besa

Next Generation Partners

Macarena Laso - Morales & Besa

Rising stars

María Teresa Manubens B - Morales & Besa

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Dispute resolution
Dispute resolution - ranked: tier 4

Morales & Besa

Morales & Besa's 'thorough and knowledgeable practice' covers civil and commercial litigation, arbitration, construction disputes, antitrust claims, administrative law litigation, and white-collar matters. The client list includes Banco de Crédito e Inversiones, Sociedad Concesionaria Metropolitana de Salud, Universidad de Chile and ABB Chile. The nine-strong team's recent work included representing Santiago airport concessionaire Nuevo Pudahuel in a $300m royalty-related dispute against the Ministry of Public Works. Practice head Gonzalo Cordero and senior associate Orlando Palominos are the names to note.

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Environment
Environment - ranked: tier 3

Morales & Besa

Morales & Besa 'has a strong environmental law team that understands the legal aspects of environmental, social and community issues'. The six-strong practice group handles matters including administrative proceedings involving compliance with environmental regulations, sanctioning before the authorities and courts, project-related EIAs, and environmental legal audits. Recent work saw the team successfully assist the Chilean branch of France's ParexGroup with the granting of environmental permits for its Lampa manufacturing plant in Santiago. A former head of the Environment Ministry's legal division, 'dedicated' senior associate Paloma Infante M is head of the department with partner-level support provided by infrastructure specialist Carlos Silva. Key clients include Astaldi Chile, Comsa Energías Renovables, BHP and Cencosud.

Rising stars

Paloma Infante M - Morales & Besa

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Labour and employment
Labour and employment - ranked: tier 4

Morales & Besa

Morales & Besa is 'appreciated for the practical application of its knowledge'. The team covers collective bargaining, litigation, compliance, corporate labour advice and immigration law. Other areas of note are social security, pensions, health and safety and work accidents, and individual and collective employment contracts. Recent matters include the team's successful advice to three of Intervial Chile's subsidiaries in recent collective bargaining procedures. Gonzalo Cordero and senior associate Angelina Migliorelli are the key contacts; Fernando Arab left to become Undersecretary of the Labour Ministry.

Leading individuals

Fernando Arab - Morales & Besa

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Projects and infrastructure
Projects and infrastructure - ranked: tier 1

Morales & Besa

Morales & Besa is 'speedy, efficient and adapts to clients' needs'. The 10-strong practice has a strong reputation in the market for its assistance to financiers, investors and developers with the development and financing of energy and infrastructure projects. Key clients include Intervial, WPD Chile, Banco Security, Globalvía and Meridiam Infrastructure; the team is representing the latter, a major infrastructure investor and the concessionaire of a major, $200m hospital project in relation to issues caused by the insolvency of Italy-based constructor Astaldi. It also advised EIG Global Energy Partners, and its Chilean subsidiaries, on a $127m project financing for the Cerro Dominador power plants project. Carlos Silva (infrastructure and energy projects development), José Miguel Carvajal and Myriam Barahona (both focusing on project finance) head the practice. Also highly regarded are Eugenio Besa (transactions, project finance) and Macarena Laso (public concessions, real estate, construction and infrastructure), while notable associates include James Channing (construction, real estate, project finance), who 'does a good job', Javier Balbontín (project finance), and Sebastián Leyton (energy, natural resources, projects).

Leading individuals

Carlos Silva - Morales & Besa

Next Generation Partners

Macarena Laso - Morales & Besa

Rising stars

Sebasti√°n Leyton - Morales & Besa

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Real estate
Real estate - ranked: tier 3

Morales & Besa

For some clients, Morales & Besa's real estate and construction lawyers are 'the best in class in every aspect of their work and a dedicated, well-prepared group of individuals'. They frequently work alongside the firm's regulatory, banking and finance, tax, and energy practices, with representative work including purchases, sales, leases, financing, developments, construction, zoning regulations and title review. Recent work included advising VivoCorp, CorpGroup's real estate subsidiary, on a potential association with life insurance company Confuturo to develop a shopping mall. Carlos Silva, Macarena Laso and associate James Channing are the individuals to note.

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Tax
Tax - ranked: tier 4

Morales & Besa

Morales & Besa's tax practice covers matters including tax planning, litigation and compliance, as well as other IRS-related administrative matters, but has a particular focus on foreign direct investments and cross-border project finance in the energy and infrastructure sectors.  Recent work included assisting EIG Global Energy Partners and its Chilean affiliates with the tax aspects of project and financing agreements. Francisca Pérez is 'an excellent lawyer and tax expert', and Jaime Rosso is a key senior associate; former senior associate María José Becker S moved in house as general counsel of Ferrovial (Chile).

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Chile: Energy and natural resources

Electricity/oil and gas
Electricity - ranked: tier 2

Morales & Besa

Morales & Besa 'provides its clients with a very positive experience'. Perhaps best known for transactional energy matters the practice nevertheles advises on all development, construction, financing and operational phases, including PPAs, interconnection and tolling agreements, and fuel supply, as well as EPC and O&M contracts. Highlight work included advising X-Elio (a global company that specialises in the development, design, construction, maintenance and operation of photovoltaic plants), on interconnection and tolling agreements for the Uribe Solar PV plant. Eugenio Besa's 'experience is invaluable and he is a good negotiator', Carlos Silva is also a key contact, and the 'very supportive' Sebastián Leyton and Verónica Vergara, who 'has great vision', are both experienced associates. Clients include EIG, Sonnedix, WPD, Crea Energía and Acciona Energía.

Rising stars

Sebasti√°n Leyton - Morales & Besa

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Mining
Mining - ranked: tier 3

Morales & Besa

Morales & Besa advises on the establishment of mining property rights and incorporation of mining entities, mining agreements, permits, project financing and administrative law issues. The team recently advised BHP subsidiary MEL, on mining agreements with Orica Chile. Eugenio Besa heads the department and Lorena Barrientos is an experienced counsel. Other clients include Arena Minerals and BHP.

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