Tavarone, Rovelli, Salim & Miani > Buenos Aires, Argentina > Firm Profile

Tavarone, Rovelli, Salim & Miani
TTE GRAL JD PERÓN 537, FLOOR 5° (C1038AAK), BUENOS AIRES, ARGENTINA
BUENOS AIRES
Argentina

Argentina > Banking and finance Tier 2

Tavarone, Rovelli, Salim & Miani’s full-service banking and finance practice covers private and public debt and trust issuances, loans, corporate finance, export credit finance, project finance, sovereign debt and general regulatory matters. The ‘flexible and dynamic’ team is particularly well-known for its track record in infrastructure and project finance and has significant experience working with government entities and public banks, most notably on high-profile municipal and  provincial debt restructurings. Energy and mining financings are another active source of work. Marcelo Tavarone, who specialises in project finance, securitisation, debt restructuring and derivatives; and private equity and acquisition finance expert Federico Salim co-lead the practice alongside the  ‘fast and attentive’ Julieta De Ruggiero (banking, finance and capital markets; project finance, securitisation and debt restructuring) and Francisco Molina Portela (capital markets, project finance, debt restructuring, and banking and securities regulation). At associate level, following the departure of senior Facundo González Bustamante to Skadden, Arps, Slate, Meagher & Flom LLP's New York banking practice as a foreign associate (and to undertake his LLM), semi-senior Ximena Sumaria is the key contact. Intermediate associate Fiorella Ascenso moved to Banco Galicia in March 2023.

Practice head(s):

Marcelo Tavarone; Julieta De Ruggiero; Federico Salim; Francisco Molina Portela

Testimonials

‘Tavarone is very strong in business and finance. It stands out for the close relationship of the partners with the client and the tailor made service tailored to the client. They are very flexible and dynamic, it is a pleasure to work with them.’

‘Marcelo Tavarone and Julieta De Ruggero are two excellent professionals, very fast and attentive to queries, deep when necessary and synthetic when the subject does not require further depth. It is important that a firm understands this difference and accompanies the client in their needs. In administrative law, Nicolás Eliaschev stands out, an intelligent, trained and practical professional.’

‘In the banking and financing area, we work with partners Marcelo Tavarone and Julieta De Ruggiero and their team of associates: – Marcelo Tavarone is one of the most recognized lawyers in the banking practice in Argentina. We have resorted to his advice on many occasions for the implementation of loans and capital market operations. He has a strategic vision of the business that is of great value to us in order to structure our transactions efficiently. In addition, he is one of the best experts on exchange issues, which is why he is an obligatory source of consultation when making decisions about the feasibility of structuring many operations. We highly value his 24×7 availability and immediate response to all queries, which is essential for us to be able to accompany the business in making decisions with the immediacy that our industry requires. His excellent predisposition, quality and warmth in the service he provides makes a difference. – For her part, Julieta De Ruggiero is a partner with extensive experience in financing operations and capital markets and has accompanied us in structuring loans and issuing negotiable obligations on various occasions. Her dedication and availability is absolute, accompanied by high-quality care, both professionally and personally, with a pro-deal and customer-oriented attitude that is highly valued by all parties. In addition to her legal level and knowledge of the market in which she operates, we highlight her negotiation capacity and flexibility to achieve a successful closing of the operations on which she has accompanied us. – The team of associates in the banking and financing area is one of excellence: proactive, with 24×7 availability, very collaborative and willing to help and solve the difficulties that arise in the transactions that we have shared, regardless of which side of the transaction they are on. Its legal level and its excellent predisposition stand out, which is a registered trademark of the firm in which they plunge.’

‘The team is balanced in terms of attention, so it is always clear who is the right professional depending on the complexity of the matter, beyond the fact that the partner in charge is always 100% involved in the subject. It is valued that they can make quick interconsultations with other practice groups at the firm on issues that require related expertise (corporate, M&A, litigation).’

‘Juliet De Ruggiero and team are always available and quick to respond. They seek to find a regulatory or practical solution so that the business advances with the minimum possible risk. They are generous with the output and do not stay in conservative responses.’

Key clients

Korea Trade Insurance Corporation

Fast Food Sudamericana (Starbucks/Burguer King)

Banco del Sol

Banco de Inversión y Comercio Exterior

Bank of America/Merrill Lynch

BNP Paribas

UBS

Credit Suisse

Central Puerto

MSU

KfW IPEX Bank and Kreditanstalt Fur Wiederaufbau

HSBC Bank Argentina

Banco de la Provincia de Córdoba

Albanesi/Generación Mediterránea/Central Térmica Roca

Aerolíneas Argentinas

Banco de la Provincia de Buenos Aires

Bunge

Banco CMF

Molinos

Orazul Energy Cerros Colorados

5D+ Capital

Cargill

Loma Negra

Banco de Galicia y Buenos Aires

Work highlights

  • Counsel to UK energy group SCC Power on the acquisition of electricity generation assets in Argentina from Stoneway Capital.
  • Counsel to the mandated lead arrangers on a $411.9m financing project for Posco Argentina.
  • Counsel to the arrangers and underwriters on the issuance of $135m in notes by SPI Energy.

Energy and natural resources > Electricity Tier 2

The electricity team at the ‘young, dynamic and highly responsive’ Tavarone, Rovelli, Salim & Miani supports renewable energy and electricity clients on a wide range of matters, and is noted for its expertise across regulation, corporate PPAs, project finance, and energy-related disputes and arbitrations. Clients single out practice head Nicolás Eliaschev for his ‘vast experience in the energy sector over a number of years’. Seniors Javier Constanzó (public law, energy and infrastructure) and Daiana Perrone (public law and renewable energy) provide further support at associate level. Since publication, Constanzó has been raised to the partnership - effective as of December 2023.

Practice head(s):

Nicolás Eliaschev

Testimonials

‘This team stands out for the quality of its attention and its high level of training.’

‘Respect and professional quality distinguish them.’

‘Nicolás Eliaschev leads a young, dynamic and highly responsive team. They adapt rapidly to the needs of the project and show a very flexible approach to work load and billing.’

‘Nicolás Eliaschev has a detailed and clear understanding of the energy market in Argentina. Nicolás has proven, detailed knowledge and first-hand experience of major renewable projects in Argentina, the market stakeholders, and all regulatory requirements.’

‘Javier Costanzo is clearly a rising star. He is extremely responsive, flexible, and rigorous.’

‘Nicolas Eliaschev has vast experience in the energy sector over a number of years.’

Key clients

Josemaría Resources

Eramine

Genneia

MSU

DFC

Banque Nationale de Paris Paribas

KFW Ipex

Tozzi Green

Loma Negra

Orazul Energy

Neuss Fund

Louis Dreyfuss Company

Aconcagua Energía Renovables

Work highlights

  • Advised Lundin Group on developing renewable power supply to the Josemaria Copper-Gold Project.
  • Advised Orazul Energy on an arbitration proceeding against the Republic of Argentina under ICSID rules, for a breach of the Argentine-Spain bilateral treaty of investment.
  • Advised Tozzi Green on the acquisition of two solar farms owned by Abo Wind.

Argentina > Corporate and M&A Tier 3

Tavarone, Rovelli, Salim & Miani handles the complete range of corporate work from M&A, joint ventures and corporate restructurings to day-to-day corporate matters. The firm is known for its work on complex transactions, with the retail and energy sectors prominent, and has also carved out a niche in wealth management work, handling corporate matters for high net worth individuals and families. The ‘precise, concise and fast’ Juan Pablo Bove, who is active in private equity and M&A, leads the practice alongside well-reviewed transactional lawyer Federico Martín Otero. Experienced banking and finance practitioner Federico Salim, and corporate all-rounder Julián Razumny, are other senior contacts, although the practice has seen the departures of Agustín Griffi and Pablo Tarantino to take up in-house counsel roles at long-standing family office client, Grupo Werthein.

Practice head(s):

Juan Pablo Bove; Federico Otero

Testimonials

‘The team combines sophisticated legal advice with a personal approach. They understand cultural challenges when working on cross-border transactions.’

‘Federico Otero exceeds our best expectations. Juan Pablo Bove is precise, concise and fast.’

‘They are always up to date on legal developments. Super reliable.’

‘They promptly respond to all of our requests and provide top-notch advice. The best law firm we have worked with in Argentina.’

‘Knowledgeable and proactive lawyers who understand the client’s business.’

‘The team perfectly understand our business and work accordingly, recommending smart and convenient solutions.’

Key clients

Roch

Grupo Pérez Companc

Cargill

Gerardo Werthein family office

Elawan Group

Enel

Open Pass

Caja de Ahorro y Seguro

La Estrella S.A. Compañía de Seguros de Retiro

Grupo Albanesi

Calcaterra family office

CMF Banco

Empresas CMPC

Sisal Entertainment

Cinépolis Group

Alicorp Group

Fiserv

Bibank

San Cristobal Group

DLL Leasing

Bitso /Nvio Pagos Argentina

Aerodoc

Vitalcan

Cloudhesive Argentina

Grupo La Cabrera

Aurum Valores

Club Atlético River Plate

Invertir en Bolsa

Vaas

Cepas Argentina

Dreamco S.A.

Tozzi Green

Work highlights

  • Counsel to UK energy group SCC Power on the acquisition of Argentine electricity generation assets from Canadian power plant company Stoneway Capital Corporation for $530m.
  • Counsel to Fabio Calcaterra in the sale of a 25% equity interest in his joint venture with J.R. Simplot.
  • Counsel to Kamay Ventures in the deployment of financing in three start-ups during 2022.

Argentina > Dispute resolution Tier 3

Financial services and energy are particular areas of strength for Tavarone, Rovelli, Salim & Miani, which handles a broad range of dispute resolution work, including domestic and international arbitration, class actions, insolvency proceedings and general commercial litigation. Contract breaches emerging out of bankruptcy scenarios,  and the obtaining of recognition and enforcement of international arbitration rulings before Argentine courts, are both particular areas of expertise; and the practice teams up with external specialists as required for matters with a criminal aspect. Experienced arbitration and shareholder litigation lawyer Mariano Rovelli leads that team alongside the versatile Eugenia Pracchia, who handles litigation and administrative proceedings and also advises on FX, capital markets and anti-money laundering matters. At associate level, seniors Martina Schmidt and Santiago Nieto handle a combination of civil and commercial litigation, shareholder disputes, administrative controversies, and bankruptcy and reorganisation proceedings.

Practice head(s):

Mariano Rovelli; Eugenia Pracchia

Key clients

Alau Teconología

AON Risk Services

Vicentin

Banco Macro

Banco Industrial

BBVA Argentina

Bunge Argentina

Harz Energy

Bytelime

Compañía Financiera Argentina

Wenance

TPCG Financial

Olympic Broadcasting Services

SoEnergy International

Powerchina

Termoeléctrica José de San Martín

Termoeléctrica Manuel Belgrano

Ferrosur/Loma Negra

Work highlights

  • Advising an agribusiness company before the Central Bank in highly complex FX criminal proceeding against the company and its directors.
  • Advise Parque Solar Cura Brocheo in a claim related to a breach of environmental regulation as a result of the construction of the power plant.
  • Advising local financial entities in class action cases filed against them, involving the analysis and interpretation of a diversity of banking and credit issues from the consumer law standpoint.

Energy and natural resources > Mining Tier 3

Tavarone, Rovelli, Salim & Miani has successfully broadened out what was primarily an electricity-sector focused natural resources team and has seen a steady uptick in mining-related work during the last 12 months. The hire of specialist mining practitioner Marcos Moreno Hueyo as partner and practice head has been the main driver of this development, helping the the team to win business from developers in metals and minerals ranging from gold and silver to copper and lithium. The practice also advises on all the regulatory aspects associated with the Argentine mining industry, including public law, tax and financial regulations. Transactional work, and environmental and royalties' matters are also covered. In addition to the hire of Moreno Hueyo, the firm has also recruited mining-law focused associate Dolores Reyes.

Practice head(s):

Marcos Moreno Hueyo

Key clients

Desarrollo de Prospectos Mineros

Lundin Mining Corporation

EMX Royalty Corporation

Centaur Resources

Eramine

Loma Negra Compañía Industrial Argentina

Work highlights

  • Advised Desarrollo de Propectos Mineros on an agreement for the operation and maintenance of the Josemaría copper-gold mining project in San Juan province in Argentina.
  • Currently advising EMX Royalty Corporation on royalties in Argentina as a result of a global agreement entered into with SSR Mining.
  • Currently advising Eramine’s Centenario-Ratones lithium project on  surface and environmental permitting related to the solar photovoltaic power facility that will supply energy to its mining project.

Argentina > Public law Tier 3

Tavarone, Rovelli, Salim & Miani advises clients in the railway, road transport, telecoms and oil-and-gas sectors on a wide range of public law matters, including procurement, complex infrastructure contracts, public bids and everyday regulatory and compliance work. The disputes arm of the team is also active, with the firm representing clients across administrative, arbitration and judicial proceedings at all levels. Administrative law expert Nicolás Eliaschev, who has a particularly strong energy practice, leads a team that houses a talented bench of senior associates, including Javier Constanzó (public law, energy and infrastructure) and Daiana Perrone (renewable energy, PPA, infrastructure projects and bidding processes).

Practice head(s):

Nicolas Eliaschev

Key clients

Ferrosur

Mercado Libre

Loma Negra

Orazul

Cinepolis

Alicorp

Enel Generación el Chocón

BTU

Soenergy Argentina

Central Puerto

Work highlights

  • Advised Orazul on an ICSID arbitration with the Argentine government related to two major thermal and hydropower facilities
  • Advising Ferrosur on a long-term concession contract executed with the national government.
  • Advising Loma Negra on a highly complex infrastructure project, including aspects of an associated EPC contract.

Argentina > Tax Tier 3

Tavarone, Rovelli, Salim & Miani’s tax department has extensive expertise in all types of advisory work and tax planning, as well as litigation before all court instances. The team is especially strong on transactional matters and works closely with the firm’s banking and finance practice to cover the the tax-aspects of private and trust debt issuance and loans, as well as a variety of corporate finance and project finance deals. The firm is particularly sought out for its highly specialised tax advice regarding electricity tax law and expertise in new ‘private notes’ investments that offer attractive tax benefits for international investors. Tax and customs expert Gastón Armando Miani, who also has extensive litigation experience, leads the team. Strong associate level support is offered by Ana Ines Do Nizza (tax advisory and tax litigation) and Micaela Aisenberg (corporate tax and tax planning). The team also draws on the broad experience of versatile tax counsel Juan Pablo Baumann Aubone, who handles the tax aspects of financial structuring, M&A, corporate reorganisations, investment structures and promotional tax regimes. Since publication, the team has been further strengthened with the hire of Leonel Zanotto as a partner; focused on tax consultancy, he arrives from SMS Buenos Aires with effect from March 2024.

Practice head(s):

Gastón Miani

Key clients

Bayer

First Data Cono Sur

Swiss Medical Group

Cinépolis Group

Central Puerto

Ualá

Dreamco

Genneia

Banco de la Provincia de Córdoba

Albanesi/Generación Mediterránea/Central Térmica Roca

Sacde

Banco de la Provincia de Buenos Aires

Bunge

Cirion Technologies

Samsung Electronic Argentina

San Cristobal Seguros

Calcaterra family office

Banco Interfinanzas

DLL Leasing

Vorterix

Work highlights

  • Acted as tax advisor to UK energy group SCC Power on the acquisition of Argentine electricity generation assets from Canadian power plant company, Stoneway Capital Corporation.
  • Integral tax advice to the mandated lead arrangers of a $411.9m loan to Posco Argentina; the group included the Korea Trade Insurance Corporation, participating its first transaction in Argentina.
  • Acted as tax counsel to the arrangers and underwriters on the issuance of SPI Energy’s 4.00% series 1 senior secured notes (due 2026).

Argentina > Competition and antitrust Tier 4

Tavarone, Rovelli, Salim & Miani’s recently established antitrust practice covers the full range of competition issues, focusing on pre-merger strategy analysis and merger control issues. Since launch, the practice has worked on several regulatory approval and antitrust authority filings. Antitrust investigations involving government agencies are also covered. M&A lawyer Julián Razumny leads the practice and has developed strong expertise across antitrust, pre-merger analysis and merger control issues. Associate Paula Cerizola provides primary support.

Practice head(s):

Julián Razumny

Testimonials

‘Julián Razumny is a great lawyer who is beginning to generate a solid antitrust practice.’

‘A great team that is always looking for solutions according to the needs of the client.’

‘The practice is led by Julián Razumny, who is a partner with solid experience and knowledge. We recently worked on a complex matter and his contribution was invaluable to our clients. He has a practical and direct approach to addressing issues and proposing solutions. Likewise, he has an associate lawyer who also has a lot of experience in the matter, Paula Cerizola, who helps in all practical and substantive issues to advise her clients.’

‘Julian Razumny and Paula Cerizola: excellent professionals, with great knowledge of their subjects and the business.’

Key clients

SCC Power

Santista

Orazul

Fiserv

Work highlights

  • Counsel to SCC Power on filings submitted to local antitrust authorities to obtain clearance for the acquisition of the business enterprise of Stoneway Capital Corporation.
  • Advised Santista Argentina general market investigation initiated and conducted by the Antitrust Authority.
  • Advised Orazul Energy on the antitrust aspects of arbitration initiated against the government of Argentina under ICSID rules, for a breach of the Argentine-Spain bilateral treaty of investment.

We are a full-service Law Firm assisting corporate clients with an innovative perspective and a focus on adding value in the matters that are entrusted upon us.

Our Firm intervenes in high complexity transactions and disputes, and we successfully overcome challenges by considering the best legal solution on a case-by-case basis.

We combine a detailed knowledge of local laws and markets, with a global outlook adapted to best-practice work standards applicable internationally, based upon excellent working relationships and partnerships with leading worldwide law firms.

Our Firm stands-out for client-service, partner-involvement, a dynamic and committed team of associates and a vision centered in the client’s business.

We succeed when our client’s goals are achieved in accordance with their expectations.

Founded by key individuals who achieved a strong reputation in the legal market over the past decade, this firm has arrived with strength in the Argentine legal market.

Providing high-quality work with international standards, the firm has managed in a very short time to take an important position in the market. Its team has extensive experience focusing on quality work with strong partner involvement and professional ethics. The presence of the firm in landmark transactions and high-profile cases has become notable during recent times.

MAIN AREAS OF PRACTICE
Banking and capital markets: the firm represents local and international clients in all aspects of financing transactions. It advises on debt and equity capital markets, securitizations, government bonds, syndicated loans, acquisition financing and project financing. It also provides advice to local companies in debt restructuring processes, including both commercial and financial debt. In addition, the firm provides advice on multiple regulatory matters, such as banking regulations, public offering regulations, foreign exchange and anti-money laundering.

Tax, customs and foreign trade: the firm provides comprehensive advice to its clients on international, national, provincial and municipal taxation laws and regulations. TRSyM also provides support on national and international tax planning for clients’ business structures and financing alternatives. It also advises corporate clients on import and exports in connection with tariff classification, customs valuation, import restrictions, reimbursements and other incentives to exports, dumping investigations, subsidies, quotas and safeguards. The members of the firm’s tax, customs and foreign trade practice have extensive experience in complex litigation before administrative and judicial courts.

Corporate and M&A: the firm provides highly dedicated and personalized advice to individuals, corporations and private equity funds regarding investments, joint ventures and divestments. It advises clients at each stage of the transaction including due diligence, legal and tax structuring, negotiation and closing of the agreements. It also advises clients in the planning and structuring of joint ventures, shareholders agreements, restructurings and spin-offs.

Litigation, arbitration and insolvency: the firm advises and represents clients in a wide range of commercial, civil, administrative, employment and tax legal disputes, including shareholder litigation, class actions, enforcement of foreign judgments and awards, foreign exchange and financial controversies and Supreme Court litigation. The firm also assists clients in arbitration and insolvency and bankruptcy litigation.

Compliance: the firm advises and represents clients in connection with regulatory and compliance issues, designing and implementing effective policies, programs and investigations. TRSyM has advised many companies in Argentina involved in such matters in order to address liability and create an integrated multi-jurisdictional strategy. The Firm has also conducted internal investigations for companies.

Energy, natural resources and infrastructure: the firm advises companies, the financial sector and governmental entities in the structuring of energy and infrastructure projects as well as in mergers and acquisitions of companies and assets in those sectors. The firm’s advice comprises renewable energy (wind, solar, hydro) and electricity on a general basis (including generation, transmission and distribution), as well as oil and gas (including upstream and downstream). The firm represents its clients in new project development as well as in matters in connection with regulators and suppliers. The firm provides legal support regarding power purchase agreements, gas supply agreements, EPC, O&M and equipment supply contracts as well as in connection with disputes and filings before the electricity and gas regulators.

Public law: TRSyM advises energy, infrastructure, industrial, commercial, financial and services companies in connection with all public and administrative law matters, including procurement procedures as well as disputes and litigation with governmental entities.

Mining and natural resources: TRSyM has experience in senior and junior mining transactions, including due diligence and drafting and negotiating various kinds of agreements. The firms also advises on negotiating and drafting easement agreements with surface rights holders and landowners and assist with provincial permitting issues. Moreover, it provides advice on regulatory issues at the national and provincial level, as well as for complex cross-border deals, and assist global clients with market entry strategies.

DIVERSITY

At TRSyM, we are committed to fostering an equitable and inclusive work environment that upholds the principles of diversity and respect. Our mission is to create a safe and welcoming space within our firm, where associates, partners, and all personnel are encouraged to express their true selves and unique perspectives. We firmly believe that an empowered and diverse workforce is the cornerstone of our success.

To achieve this, we have implemented comprehensive hiring and promotion policies designed to eliminate any form of discrimination. We take a zero-tolerance approach towards discrimination based on sex, race, ideology, religion, sexual orientation, age, nationality, disability, or any other physical, personal, or social condition. Our aim is to ensure that all individuals have equal opportunities to thrive and grow within our organization.

At TRSyM, we recognize that a wide range of experiences and backgrounds enriches our firm’s collective intelligence and fosters innovative problem-solving. As such, we continuously strive to create an environment where every member of our team feels heard, respected, and valued. We encourage open dialogue actively promote diversity as one of the core values in our Code of Ethics.

As a leading law firm, we recognize our responsibility to drive positive change within the legal community and beyond., we firmly believe that by fostering an equitable and inclusive workplace, we not only build stronger teams but also contribute to a more just and equitable society. Our commitment to these principles remains resolute as we strive for excellence in all aspects of our practice.”

 

Department Name Email Telephone
Banking, Finance and Capital Markets Marcelo R. Tavarone marcelo.tavarone@trsym.com (+5411) 5272-1763
Banking, Finance and Capital Markets Federico Salim federico.salim@trsym.com (+5411) 5272-1762
Banking, finance and capital markets Julieta De Ruggiero julieta.de.ruggiero@trsym.com (+5411) 5272-1752
Tax, Customs and Foreign trade Gastón Armando Miani gaston.miani@trsym.com (+5411) 5272-1759
Corporate / M and A Juan Pablo Bove juan.pablo.bove@trsym.com (+5411) 5272-1754
Corporate / M and A Federico Martín Otero federico.otero@trsym.com (+5411) 5235 7192
Corporate / M and A Julián Razumny julian.razumny@trsym.com (+5411) 5275-7555
Litigation, Arbitration and Insolvency Mariano Rovelli mariano.rovelli@trsym.com (+5411) 5272-1761
Compliance Eugenia Pracchia eugenia.pracchia@trsym.com (+5411) 5352-8309
Energy, Natural Resources and Public Law Nicolás Eliaschev nicolas.eliaschev@trsym.com (+5411) 5272-1768
Banking and Capital Markets Francisco Molina Portela francisco.molina.portela@trsym.com (+5411) 5272-1755
Energía, Infraestructura y Recursos Naturales Javier Constanzó javier.constanzo@trsym.com (+5411)52357191
Partners : 12
Other fee earners : 77
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