Twitter Logo Youtube Circle Icon LinkedIn Icon

The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.

Chapters Name Firm Section Work Area Firm ID Lawyer ID Office URL Lawyer URL

Ecuador > Law firm and leading lawyer rankings

Editorial

Ecuador experienced significant and numerous changes in 2016-17, not least in the political sphere with the two rounds of Ecuador’s general election process, the first of which was held in February alongside a referendum that successfully banned politicians and civil servants from having bank accounts or companies based in tax havens. In what was always a tight race between former President Rafael Correa’s chosen successor Lenín Moreno and centre-right candidate Guillermo Lasso, April’s second round saw Moreno win by 2.3% percent. However, while this was expected to ensure politico – economic continuity, Moreno’s first few months have shown a more independent, heterodox line.

While Ecuador’s economy continues to struggle due to low oil prices, the Correa government had, perhaps optimistically, introduced new regulations in 2016 designed to improve the efficiency of the administration of the mining sector, although law firm’s note that there has been little progress in that area aside from minimal steps in the copper exploration subsector.

In terms of other new legislation, the government also introduced a new intellectual property law in 2016, superseding previous legislation that dated from 1998 and aimed at increasing local production rather than importation. However, firms observe that the new law makes it difficult and more expensive for multi-nationals with established operations in Ecuador to act against local infringers.

Given Ecuador’s current economic crisis, the government has also been driven to auction off a number of assets to private corporations. Interestingly, law firms have seen an increase in inbound investments and M&A buy-ins by multinational corporations, although it remains to be seen whether this trend will continue following the general election result.

Newcomer Ferrere Ecuador continues to ask questions of the well-established full-service firms Pérez Bustamante & Ponce, Fabara & Compañía, Bustamante & Bustamante, Coronel & Pérez, CorralRosales and Romero Arteta Ponce, that have long dominated the market. Said market also has a healthy boutique offering; it remains to be seen if the jurisdiction will draw attention from other international law firms that have been increasing their presence elsewhere in Latin America.

Key market developments saw the mid-2017 dissolution of Corral Rosales Carmigniani Pérez. Originally established in 2013, the de-merger sees the re-establishment of constituent firms, Carmigniani Pérez Abogados, in Guayaquil, and CorralRosales, in both Guayaquil and Quito. In more general terms, newcomer Ferrere Ecuador continues to ask questions of the well-established full-service firms Pérez Bustamante & Ponce, Fabara & Compañía, and Bustamante & Bustamante, as well as the more mid-sized Coronel & Pérez and Romero Arteta Ponce, each of which also have a relatively broad service offering. The market also has a healthy boutique offering; it remains to be seen if the jurisdiction will draw attention from other international law firms that have been increasing their presence elsewhere in Latin America. Individual market movements saw Daniel Pino Arroba and Marco Elizalde Jalil leave Coronel & Pérez and Noboa, Peña & Torres, Abogados, respectively, to form Pino Elizalde Abogados; while Carolina Ortiz and Nicolas Lasso left Paz Horowitz Abogados to establish CNLE Abogados; both firms opened their doors in February 2017. In a further development since research concluded, full service market heavy weight Bustamante & Bustamante has suffered a spin off with the departing lawyers establishing the (currently) 10-strong Flor & Hurtado in Quito, which opened its doors in early September 2017.

International comparative guides

Giving the in-house community greater insight to the law and regulations in different jurisdictions.

Select Practice Area

International comparative guides

Giving the in-house community greater insight to the law and regulations in different jurisdictions.

Select Practice Area

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • Bär & Karrer Advises CEVA Logistics on its IPO, the anchor investment by CMA CGM and its migration

    CEVA Logistics, one of the world's leading third-party logistics companies, successfully priced its IPO and listed its shares on the SIX Swiss Exchange, where trading commenced on 4 May 2018. With a market capitalization of CHF 1.6 billion and generating gross proceeds of CHF 821 million, this is so far considered as the largest IPO on the SIX Swiss Exchange for 2018. In addition, CMA CGM, the third largest container shipping group in the world, has committed to make a strategic cornerstone investment in CEVA Logistics by purchasing CHF 379 million of mandatory convertible securities which will convert into shares of CEVA Logistics once certain regulatory approvals have been obtained. Simultaneously with the IPO, CEVA Holdings, the former holding company of the CEVA group, migrated from the Marshall Islands to Switzerland by way of a cross-border merger with CEVA Logistic as the surviving company.
  • BAG: Employer not liable for harm caused by vaccine

    Employers who have flu vaccines administered within their company are not liable for any harm that might occur as a result of the vaccine. That was the verdict of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court, in a recent ruling.
  • Tax Update

    Cyprus Tax Department has announced that, as of June 1 st 2018 , the following taxes, not bearing interest and charges, can ONLY be paid via JCCsmart (website www.jccsmart.com.cy ) . JCCsmart is a Cyprus portal used to contact payments to various organizations including the Government. This measure follows the successful implementation of the Pay As You Earn (PAYE) tax withheld from employees through JCCsmart.
  • Bär & Karrer Advises on the Financing of the Largest Thermoelectric Plant in Latin America

    Centrais Elétricas de Sergipe S.A. (CELSE) has successfully issued bonds for approx. USD 1 billion equivalent in local currency at a fixed, long-term rate in international capital markets. The innovative bond issue is guaranteed by the Swiss Export Risk Insurance (SERV), the export credit agency of Switzerland. The bonds are part of a financial package to finance the development, design, construction, operation and maintenance of a thermoelectric power plant by CELSE in the state of Sergipe in the northeast region of Brazil. Besides the bond issue for approx. USD 1 billion, the transaction includes a USD 200 million loan from the International Finance Corporation and a financial package of the Inter-American Development Bank in the amount of approx. USD 300 million. Once operational expected for in 2020, CELSE will sell electricity to 26 distribution companies in Brazil, becoming the largest and most efficient thermoelectric plant in Latin America and the Caribbean.
  • BAG: Threats made by employee can justify dismissal with immediate effect

    Employers do not have to accept threats made by employees. These can constitute good cause justifying extraordinary notice of dismissal with immediate effect, as demonstrated by a ruling of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court.
  • SyCipLaw is Tier 1 Firm in IP STARS 2018 Rankings

    SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) was once again ranked by Managing IP’s IP STARS 2018 as a Tier 1 firm in Patent and Trademarks/Copyright in the Philippines. In addition, SyCipLaw partners Enrique T. Manuel and Vida M. Panganiban-Alindogan are ranked as Trade mark star – Philippines . Mr. Manuel is also ranked as Patent star – Philippines .
  • Bär & Karrer Advises lastminute.com on Partial Self-Tender Offer

    On 21 September 2017, an extraordinary shareholders' meeting of the SIX Swiss Exchange listed lastminute.com N.V. authorized the board of directors to repurchase up to 33 1/3% of the company's share capital by means of a partial self-tender offer. The resolution adopted under Dutch law contained detailed information, among others regarding the period for which the authorization is granted, the manner in which the shares are repurchased and the price range within which the offer price must be set.
  • New Serbian Law on Foreigners Adopted

    In March 2018, the new Serbian Law on Foreigners was adopted, replacing the 2008 version of this law- in force until recently without any amendments. The new law will enter into force on 3 October 2018.
  • The Serbian Law on Foreign Exchange Amended

    On 20 April 2018, the amendments to the Law on Foreign Exchange (the “Law ”) were adopted and will enter into force on 28 April 2018 . Exceptionally, the application of certain provisions related to the assuming of competencies over foreign exchange control by the National Bank of Serbia is delayed until 1 January 2019.
  • Bär & Karrer Advises Vyaire Medical on its Acquisition of Acutronic Medical Systems

    Vyaire Medical, Inc., a global leader in respiratory care, acquired all shares in the Acutronic Medical Systems group, a Switzerland and Germany-based leader in the design and manufacture of neonatal ventilation equipment.