Mexico

Editor’s notes

Mexico’s June 2024 presidential election saw the election of the country’s first woman president in Claudia Sheinbaum, marking the end of the tenure of Andrés Manuel López Obrador. It is a continuation in rule for Movimiento Regeneración Nacional (Morena). In a landslide 33-point victory Sheinbaum defeated Xóchitl Gálvez, candidate for the Frente Amplio por México alliance (composed of members of the PAN, PRI and PRD) and Movimiento Ciudadano candidate Jorge Máynez. Her recorded vote count is the highest for a single presidential candidate in the country’s electoral record. She was officially sworn in to the role on October 1st 2024.

The period leading up to the elections was largely one of anticipatory stasis. AMLO had often found himself in opposition to the Supreme Court regarding the constitutionality of many of his desired reforms and once the end of his tenure was in sight, much was sidelined and left to wait for the new president. Legislative changes in 2024 were practically non-existent due to the impending vote, which from the lawyers and their clients’ perspective was seen as a boon in corporate and M&A law, with US investors encouraged by the short-term landscape of calm and lack of what they see as “arbitrary changes”.

Economically Mexico has continued to be a beneficiary of various disruptive global issues, and the near-shoring phenomenon: the re-location of businesses that had previously established themselves in locations with low overheads, to those nearer the key US market. This process continues – to drive much of the corporate M&A and real estate activity on which private-practice legal activity has been focused.

Looking directly at the law landscape in the country, summer 2024 has seen two major mergers that both saw Spanish firms making significant moves in the jurisdiction. Pérez-Llorca has elected to make a move into the market, absorbing González Calvillo, a local firm that had built a robust presence across a number of practice areas. The other major merger to note saw Garrigues Mexico, which had previously had a small but notable presence in the Mexican market, take over Sánchez Devanny, home to several strong teams, particularly in banking and finance, and tax.

Other international developments saw DWF launch a Latin America practice (as of September 2024) co-led by the Madrid-based Ignasi Costas and Lisbon-based Mexican energy specialist Claudio Rodríguez-Galán; and the closure of Mayer Brown Mexico, S.C. (following the parent firm's decision to leave the local market), with all but one of its members recombining to form Fernández, Garcia-Naranjo, Boker & Garibay, S.C.

Alongside international developments there were some interesting moves to note in several practice areas. Sainz Abogados took a ten-strong group from González Calvillo (prior to its merger into Pérez-Llorca), which included the co-heads of its corporate and M&A offering José Victor Torres Gómez and Daniel Guaida; competition law expert Cristina Massa; and energy law partner Diana Pineda Esteban. In tax, Creel, García-Cuéllar, Aiza y Enríquez, S.C. saw the departure of former practice head Alejandro Santoyo; he has subsequently joined Ritch, Mueller y Nicolau, S.C.; while Galicia Abogados S.C. bolstered an already stellar practice by bringing in a former magistrate of the Tribunal Federal de Justicia Fiscal y Administrativa, Paola Yaber. Nader, Hayaux y Goebel, SC also strengthened its contentious tax capability, hiring former Hogan Lovells‘s counsel Francisco Palmero as a partner in September 2024. Galicia would subsequently see the departure of veteran partner and banking and finance practice co-head Humberto Pérez Rocha, who joined Chevez Ruiz Zamarripa in September 2024.

The broader market picture has leading full-service powerhouses Creel, García-Cuéllar, Aiza y Enríquez, S.C. and Galicia Abogados S.C. continue to reap the rewards of their efforts towards great institutionalisation over the last decade. A corporate model underscores Nader, Hayaux y Goebel, SC’s solid offering, while Mijares, Angoitia, Cortés y Fuentes S.C. remains firmly entrenched at the top of the market. Ritch, Mueller y Nicolau, S.C. may have weakened in corporate and energy recently but it remains a destination firm for banking, finance and capital markets work. Greenberg Traurig, S.C. continues to build its profile in Mexico, while Von Wobeser y Sierra, SC is still especially strong in dispute resolution. Hogan Lovells is steadily closing the gap to some of the market’s leaders, and other international firms White & Case S.C. and Baker McKenzie Abogados, S.C. also remain forces to be reckoned with, along with Holland & Knight’s growing team. Longstanding, multi-office full service corporate players Basham, Ringe y Correa, S.C. and Santamarina y Steta also retain a healthy market share and profile.

The country also houses a number of upper mid-market firms with a broad service offering: from tax heavyweights Chevez Ruiz Zamarripa, which has strived to broaden its business law offering, to Meritas Law Firms Worldwide alliance-member, Cuesta Campos y Asociados S.C.. Sector-specialist and boutique firms play a key role in several of the Mexican market’s key practice areas. Turanzas, Bravo & Ambrosi and C&C Asesores are among standouts of their kind in the tax sector; Malpica, Iturbe, Buj y Paredes, S.C. and Martínez, Algaba, de Haro y Curiel remain leading lights across dispute resolution, even as some of the the leading full service corporate players contest the field; Vázquez Tercero & Zepeda and SAI Derecho & Economía S.C are long standing names for international trade matters; as are Arochi & Lindner, SC, Olivares and Uhthoff, Gómez Vega & Uhthoff, SC in IP; and Sainz Abogados, Del Castillo y Castro Abogados or Guerra, Hidalgo y Mendoza (GHM) for bankruptcy and restructuring.

Since publication, Mijares, Angoitia, Cortés y Fuentes S.C. has hired Jaqueline Aranda (as counsel) to lead the firm's new international trade and customs practice; Aranda - who joined the firm in November 2024 -has over 20 years' experience including periods at both Baker McKenzie Abogados, S.C. and Chevez Ruiz Zamarripa. Other developments have seen US-headquartered firm Clark Hill Plc increase it's bench depth in Mexico with the absorption of the former labour boutique Tenorio Abogados; practice head Jorge Tenorio joins the firm as a partner, along with four associates - effective as of November 2024. Further headline news saw the announcement that Martínez, Algaba, de Haro y Curiel would be merging into Creel, García-Cuéllar, Aiza y Enríquez, S.C. - radically deepening the latter's contentious ability, particularly as regards administrative, commercial and civil litigation; the merger is expected to concluded by the first trimestre of 2025. On the international front, 'distributed' non-traditional US giant FisherBroyles LLP made its first steps into the Latin American region with the absorption of the former Bravo Abogados in February 2025; based across offices in Monterrey and Mexico City, the eight-strong team consists of three partners and five counsel (plus eight law clerks), and is led by experienced corporate practitioner, Jair Bravo.

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Press Releases

Lammoglia Abogados Welcomes Rodrigo Juárez Castañeda to Lead New Antitrust and TMT Practice

Mexico City – Lammoglia Abogados is pleased to announce the addition of Rodrigo Juárez Castañeda as Of Counsel. Rodrigo will lead the newly created Antitrust and Technology, Media and Telecommunications (TMT) practice areas. His arrival marks a significant milestone in our commitment to offering innovative legal solutions in these dynamic fields. Rodrigo Juárez boasts a remarkable track record in both public and private sectors, particularly in telecommunications and economic competition, including having served as head of Monopolistic Practices and Unlawful Concentrations investigations in the Investigative Authority of the Federal Telecommunications Institute (IFT). His strategic vision and leadership have been instrumental in shaping regulatory practices, so we are excited to bring this expertise to our clients. Rodrigo holds an LLB from Centro de Investigación y Docencia Económicas (CIDE, 2008) and an LLM from London School of Economics (LSE, 2012). His academic credentials include prestigious institutions such as Barcelona School of Economics and the Universidad Nacional Autónoma de México. This solid educational foundation, combined with his extensive experience, supports the launch of the Antitrust and TMT practice under his guidance, allowing us to offer bespoke legal strategies that address the unique challenges faced by our clients. In this way, the firm expands its service portfolio to encompass strategic advice and legal representation in economic competition, technology, media, telecommunications, as well as related fields such as intellectual property, privacy, consumer protection and e-commerce. At Lammoglia Abogados, we are dedicated to advancing our clients' interests with cutting-edge legal solutions. Rodrigo's expertise will be invaluable as we expand our service offerings and reinforce our position in antitrust and telecommunications law.
Lammoglia Abogados - July 4 2025
Press Releases

New Partners Announcement 2022

We are pleased to announce the following lawyers as new partners of our firm: HÉCTOR CÁRDENAS ORTEGA Héctor joined the firm in 2010. He has vast experience in mergers and acquisitions, advising buyers (both financial and strategic), sellers and financial advisors in sale processes of businesses and assets in a variety of sectors (food and beverage, educational services, technology, and automotive, entertainment and financial services, among others), including acquisitions through tender offers, leveraged acquisitions and reorganizations, with special emphasis on advising private equity funds in their structuring, as well as in acquisitions and divestments of businesses and assets. As to his real estate experience, Héctor is particularly active in transactions involving the structuring of private equity real estate funds, as well as in the acquisition and sale of real estate properties and developments, working for both investors and developers. Héctor worked as a Foreign Associate at Simpson Thacher & Bartlett in New York, NY (2015-2016). SANTIAGO CARRILLO CATTORI Santiago joined the firm in 2011. He actively participates in complex transactions involving financings, acquisitions and developments across all real estate asset classes, including industrial and hotel assets, representing domestic and foreign financial institutions, private equity firms and developers. He also advises domestic and international lenders in structuring credit facilities for Mexican public and private companies, particularly in structured lending transactions. Santiago worked as a Foreign Associate in the Banking & Finance practice area at Mayer Brown, in Chicago, IL. ADRIANA PADILLA RIVAS Adriana joined the firm in 2015. She has more than 14 years of experience and has participated in several commercial and investment arbitrations, both as counsel and arbitrator, under the rules of several institutions such as ICC, LCIA, AAA-ICDR, ICSID, CANACO, CAM and others. She has extensive experience in dispute resolution in many fields such as M&A, infrastructure, energy, port, construction, retail and corporate, subject either to Mexican, international or foreign law. She also has extensive experience in litigation related to arbitration, including judicial proceedings for the recognition and enforcement of awards and interim measures in arbitration. In addition, she has participated in multiple financial restructurings and insolvency proceedings, advising both companies and creditors, and also acted as counsel to the receiver. Adriana worked as a Foreign Associate in Cleary Gottlieb, in New York, NY (2014-2015). JUAN JOSÉ PAULLADA EGUIRAO Juan José joined the firm in 2017. He has more than 14 years of experience advising multinationals from the energy, real estate, private equity, banking and financial sectors in tax controversy and tax advisory matters. He specializes in representing clients throughout controversy processes before tax and other governmental authorities, regulators and the Taxpayers’ Defense office, to reduce or eliminate contingencies derived from tax audits and other administrative inspections. He has particular experience in advising multinationals on cross-border transactions, confronting complex international tax issues in the application of double taxation treaties. Juan José was a member of Ernst & Young’s international Tax Advisory practice in New York (2014-2016) and Houston (2016-2017).
Ritch, Mueller y Nicolau, S.C. - January 19 2022
Projects, Energy and Infrastructure

Representation of Mexico Infrastructure Partners (EXI)

Represented Mexico Infrastructure Partners (EXI), in the structuring of a new Fibra-E named Fibra EXI, as well as Fibra EXI in the issuance of MXN$22,159 million CBFEs, placed in the Mexican Stock Exchange through an initial public offer and distribution to investors of EXI Funds. Press coverage of the matter can be found here: https://www.bbva.com/es/mx/bbva-mexico-actuo-como-estructurador-e-intermediario-colocador-lider-de-la-fibra-e-de-exi-con-una-oferta-primaria-de-3505-millones-de-pesos/ https://www.elfinanciero.com.mx/opinion/dario-celis/2021/07/30/proximo-lunes-al-mercado-fibra-exi-con-21-mmdp/ https://expansion.mx/mercados/2021/07/30/fexi-fibra-e-bolsa-mexicana
Ritch, Mueller y Nicolau, S.C. - August 13 2021
TMT (Technology, Media & Telecoms)

Reporting obligations of Electronic Payment Fund Institutions (“IFPEs”) and Crowdfunding Institutions (“IFCs”)

The publication of several authorizations in the Federal Official Gazette in recent months allowing various companies to be organized and operate as Electronic Payment Fund Institutions (“IFPEs”) or as Crowdfunding Institutions (“IFCs”) has accelerated the Fintech environment in Mexico. Pursuant to the Law that Regulates the Financial Technology Institutions (the “Fintech Law”) and the authorizations issued thereunder, both IFPEs and IFCs will be subject to the supervision of the Mexican National Banking and Securities Commission (the “CNBV”) and the Mexican Central Bank, as applicable, and to the supervision of other competent financial authorities under the terms provided by law. The services consisting of the issuance, management, redemption and transmission of electronic payment funds that IFPEs provide, or services consisting of collective debt financing that the IFCs provide, as well as the operations that such institutions carry out and their organization and operation in general, will be subject, among others, to the Fintech Law, to the general rules and provisions applicable to Financial Technology Institutions issued by the CNBV, to the provisions issued by the Mexican Central Bank in connection with their operations, and to any other rules and provisions in effect and those issued in the future by any competent authority, including those related to transactions with resources of illicit origin and financing of terrorism, which by their nature are applicable (collectively, the “Fintech Regulation”). The Fintech Regulation establishes annual, quarterly and monthly reporting obligations that both IFPEs and IFCs shall comply with, as well as reporting obligations when certain events occur or over certain periods of time. Failure to comply with such reporting obligations could give rise to the imposition of administrative fines. Based on our long trajectory in financial and regulatory matters, we are very active in the Fintech market in Mexico, attentive to the needs of our clients. If you would like to know more about the reporting obligations that are applicable to IFPEs or IFCs, please contact José Berrueta Ochoa ([email protected]) or Rodrigo Carmona Herrán ([email protected]), members of Ritch Mueller´s banking and finance practice.
Ritch, Mueller y Nicolau, S.C. - June 30 2021