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Consortium Legal

DIAGONAL 6 10-01 ZONA 10 CENTRO GERENCIAL LAS MARGARITS TORRE II, OFICINA 1101, CIUDAD GUATEMALA
Tel:
Work +502 2279 3939
Fax:
Fax +502 2279 3938
Email:
Web:
www.consortiumlegal.com

Guatemala

Banking and finance
Banking and finance - ranked: tier 1

Consortium Legal

The banking and finance practice at Consortium Legal is co-led by Álvaro Castellanos and senior associate Diego Alejos (‘an excellent professional who resolves the matters in front of him efficiently’). In a recent highlight, the team advised Citigroup Global Markets, as sole lead manager and book-runner, on the Republic of Guatemala’s $500m sovereign debt issuance on the Luxembourg Stock Exchange – the second transaction of its kind that the firm has been involved in; and Banco de América Central (BAC) on obtaining a $50m loan from a multi-jurisdictional syndicate of banks led by Banco Latinoamericano de Comercio Exterior (Bladex). Other work saw the team advise key client Citibank on the acquisition of IT services companies in Central America as well as assisting the bank’s Guatemalan branch with the granting of a $3.6m loan to Pegamorteros de Guatemala. The team is also handling an increasing volume of fintech work. Clients include Bank of America Merrill Lynch, Deutsche Bank, JPMorgan Chase and Inter-American Development Bank (IDB).

Leading lawyers

Álvaro Castellanos - Consortium Legal

Next generation lawyers

Diego Alejos - Consortium Legal

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Corporate/M&A
Corporate/M&A - ranked: tier 1

Consortium Legal

Founding partners Alfredo Rodríguez (who is ‘very accessible and always in touch with the client’) and Álvaro Castellanos lead Consortium Legal’s corporate practice alongside Rafael Alvarado Riedel. The team continues to assist American International Group (AIG) with the post-closing process following its sale of AIG Seguros operations in Guatemala, El Salvador and Honduras; and in another highlight, is also handling a post-due diligence process for Sumitomo following its acquisition of fruit distributor Fyffes’ worldwide subsidiaries, including farming operations in Guatemala. Servicios de Altura, which the team advised on a capital increase and the creation of new classes of shares worth approximately $13m, and Evertec are also key clients.

Leading lawyers

Alfredo Rodríguez - Consortium Legal

Rafael Alvarado Riedel - Consortium Legal

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Dispute resolution
Dispute resolution - ranked: tier 1

Consortium Legal

Consortium Legal’s dispute resolution practice is co-led by Elías Arriaza and David Erales, who was promoted to partner in January 2018. Arriaza primarily handles civil and constitutional matters, and has represented high-profile clients from the energy, transportation and agricultural sectors, among others. Recent highlights include representing a mining company in a matter involving the suspension of its mining licence, acting for a distribution company in a dispute over a lease agreement, and assisting an agricultural company with filing claims for payment for products sold. Erales, who is praised by clients for being ‘very well prepared, with a deep knowledge of the subject’, focuses on tax litigation.

Next generation lawyers

Elías Arriaza - Consortium Legal

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Intellectual property
Intellectual property - ranked: tier 1

Consortium Legal

Consortium Legal advises on trade mark prosecution, trade mark infringement and portfolio management, while also handling patent applications, industrial designs and copyright matters. ‘Very good attorneyNinoshka Urrutia has fifteen years’ experience and is particularly recommended for her ‘specialised practice around geographical indications and origin denominations’. She continues to represent Conzorcio Parmigiano Reggiano regarding the protection of its geographical indication. In the patents area, a recent client is Titon, which the team is advising as regards the protection of an invention by Guatemalan engineers via an international phase application according to the Patent Cooperation Treaty (PCT). The team also advises the Secretaría de Integración Económica Centroamericana (SIECA) on guidelines for border measures in Central America.

Leading lawyers

Ninoshka Urrutia - Consortium Legal

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Labour
Labour - ranked: tier 2

Consortium Legal

Consortium Legal’s ‘good labour law team’ continues to be recognised for its strong market presence advising international and multinational companies, particularly across the electricity, agro-export and industrial sectors, among others. With considerable expertise in collective bargaining, the team has once again handled the relationship between various businesses (including a pharmaceutical distributor and a consumer-products company), and unions, particularly as regards the negotiation of collective agreements. The team also gives labour advice in connection with M&A transactions. The ‘well regardedLionel Aguilar leads the practice; associate Federico Zelada is experienced in labour law, collective bargaining processes and compliance issues.

Leading lawyers

Lionel Aguilar - Consortium Legal

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Tax
Tax - ranked: tier 1

Consortium Legal

An undoubted leader in the field of tax law, the ‘well-structured and organised firmConsortium Legal provides a ‘very high level of professional advice’ and ‘good quality service’ on matters such as tax planning and administrative and judicial tax proceedings. The practice has seen a growing demand for regional advice and been kept busy with various proceedings concerning tax adjustments to income tax, as well as matters relating to VAT and other tax credits, for Central American, US and European companies from a broad range of industries; the team won important judicial cases in the banking and telecoms sectors, among others. In the tax planning and advisory arena the practice acts primarily for large family companies and saw a high volume of work related to the restructuring of such entities from legal and tax perspectives. The team consists of ‘lawyers with great ability’: highly regarded by clients and peers alike, founding partner Alfredo Rodríguez is a ‘leading name’ and a ‘very approachable lawyer who is always in touch with the client’; Olga María Meléndez is another key contact; and associate David Erales is ‘very prepared and has profound tax expertise’, especially in defending clients in cases brought by the tax authorities.

Leading lawyers

Alfredo Rodríguez - Consortium Legal

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Further information on Consortium Legal

Please choose from this list to view details of what we say about Consortium Legal in other jurisdictions.

Guatemala

Offices in Ciudad Guatemala

Honduras

Offices in Tegucigalpa, San Pedro Sula, and Islas de la Bahia

Costa Rica

Offices in San Jose and San Jose

Nicaragua

Offices in Managua, León, and Rivas

El Salvador

Offices in La Libertad

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Korean Financial Regulators Advance Legislation to Introduce Regulatory Sandbox to Spark FinTech

    The 2018 year in review in Korea was notable for the sluggish overall economy, uncertainty surrounding the geo-politics and impact on Korea due to the global trade wars, on-going concerns related to the lack of jobs and unemployment, increased taxes and burdens for businesses and families, and no meaningful improvement or clarity in the current situation for 2019. In response, the Korean National Assembly passed a legislation called the Financial Innovation Support Act (the “FinISA”) on December 7, 2018 to spark the financial services industry in conjunction with FinTech products and services. The FinISA, which will soon take effect in March 2019, is intended to lay the legal foundation to introduce a regulatory sandbox for innovative financial services, where FinTech firms test their new products and services without certain regulatory oversight pursuant to exemptions for a limited period of time (“Sandbox”). As the FinISA exempts or defers application of existing finance-related regulations for new financial technology, products or services with the purpose of fostering the creation of innovative and new financial products and services, it will also support the stabilization of such services in the financial services market at the end of the testing period and is expected that the FinISA will support a revitalization of the FinTech industry which experienced sluggish growth in recent times. In particular, as companies and investors become more interested in security tokens and Security Token Offerings (“STO”) which are regulated by the Financial Investment Services and Capital Markets Act (the “FSCMA”), there have been on-going discussions and debates as to whether the FinISA could lead to a breakthrough in the crypto-asset industry based on blockchain technology. Crypto assets encompasses those assets which utilize blockchain technology where the asset is digitalized by utilization of cryptography, peer-to-peer networks and a public ledger of verified transactions resulting in a ‘units’ of such a crypto asset without any involvement by middle-persons or brokers (e.g., cryptocurrency.
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  • 2018 FCPA Enforcement Actions and Highlights

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  • ECJ – Distinctive character necessary for registration as EU trade mark

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  • Supporting local and international charitable organizations

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  • BAG – Employers can claw back bonus payments

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  • Stricter supervision in relation to the Scheme for Naturalisation of Investors in Cyprus by Exceptio

    Recently there were a lot of publications within the European Union expressing concerns about the allegedly very high number of Cypriot passports being given to foreign investors the last few years. The Council of Ministers has decided on 9th January 2018 with the decision with number 84.069, to impose a stricter supervision of all the parties involved in the Scheme for the naturalisation of non-Cypriot investors in Cyprus by exception.
  • 19% VAT on Plots

    In order to harmonize the  Acquis Communautaire on the Taxation of untapped and undeveloped plots of land, the Cyprus Government enacted, on 03/11/2017, relevant legislation for the imposition of 19% Value Added Tax (VAT) on these properties, with a date of enforcement being 02/01/2018. The relevant legislation refers to plots/pieces of land offered and/or provided for construction for economic purposes.