Corporate and finance in Nicaragua


Arias' corporate and finance department shines thanks to its 'deep working knowledge of the local Nicaraguan laws across all sectors'. Ana Teresa Rizo and key associate Maryeling Guevara, who 'makes sure her client has the necessary protection in every deal', successfully obtained concentration authorisation from the Nicaraguan Competition Authority for the acquisition of Monsanto by the firm's client Bayer. Associate Rodrigo Ibarra and Gustavo-Adolfo Vargas are further key figures in the exceptionally strong team. In another recent work highlight, Bertha Argüello, who 'gives sound advice, is always available, prompt with work and professional', assisted DEG-Deutsche Investitions- und Entwicklungsgesellschaft with the structuring and packaging of its long-term debt. Roger Pérez is also a key contact. Edgard Torres and Mario Novoa left the department to join Dentons Muñoz in the second half of 2018.

Consortium Legal

Consortium Legal's skilled team of corporate specialists acts for buyers and sellers in regional transactions. Its regional and international clients receive 'excellent advice in different areas'; Rodrigo Taboada, for instance, assisted Banpro with the preparation of the first issuance of bonds by its majority shareholder, Promérica Financial Corporation. Key figure Olga Barreto acted for Vuela Aviación, a Costa Rican subsidiary of Mexican low-cost airline Volaris, on the creation of its Nicaraguan branch, which required constant co-ordination with the authorities and other public and private entities to obtain all the necessary permits and authorisations. (However, due to the difficult socio-political situation in the country, the client has currently suspended its operations in Nicaragua.) Other names to note are the 'very experiencedMartha Lorena Icaza and associate Maria Lizeth Prado.

García & Bodán

García & Bodán provides seamless corporate and commercial services throughout the Central American region. Federico Gurdián, who was recently promoted to regional corporate and transactional practice head, leads the team. With support from other departments, regional managing partner Terencio García assisted Millicom with the acquisition of the local operations of Telefónica, which included a high-level due diligence. The team's stellar client roster also includes United Airlines, Grupo Lala, Cargill and Universal. Associate Paúl Rodríguez is a name to note: he is currently supporting García in providing advice to Nicaragua Power Sports regarding its stock restructuring. Carlos Téllez is also a key member of the team.

Aguilar Castillo Love

The eight-strong corporate team at Aguilar Castillo Love has extended its client list recently: new clients include Société Jas Hennessy, Cargill Nicaragua and Industrias Farmacéuticas. The team handles M&A and private equity transactions, commercial contracts, and banking and finance matters, including capital markets. Co-practice head Thelma Carrión-Blandón and associate Claudia Guevara advised longstanding client General Electric on the sale of and guarantees related to medical devices, while co-practice head Violeta Núñez assisted Westland Bloemen Export with an international credit facility granted to Nica Tropical Fern. Pol Thielen is also a key contact.

Alvarado y Asociados

Alvarado y Asociados' corporate and commercial team is praised for its knowledge of local law in several industry sectors. The team is made up of key figures Gloria María de AlvaradoLuz Marina Espinoza and senior associate Claraliz Oviedo Maglione; they regularly handle matters such as distribution contracts, corporate restructurings, and obtaining licences and permits from government authorities. The firm's client list includes Grupo Bimbo and Cemex, as well as a number of airlines such as Aeroméxico and Delta.


The corporate practice at BLP is headed by Ernesto Rizo, who has acted as adviser to the Nicaraguan Stock Exchange for more than ten years. He is currently handling the first defaulted public offering in the history of the Nicaraguan capital markets for Invernic. In another highlight, Claudia Prado and associate Favio Josué Batres advised Credit Suisse's Cayman Islands Branch on the $4m financing of a wind energy project. Highly regarded associate Juan Castillo has left the firm.


Lexincorp's corporate department, which is led by Claudia Vivas and the 'excellent' and 'proactive' Fernando Pastor Midence Mantilla, is praised for its focus on 'getting results in the shortest time possible'. The firm's client base includes international corporations such as Nokia, Sony and Banco General. Conducting in-depth due diligence is one of the practice group's strengths; recent work saw the department co-heads undertake due diligence on behalf of BlueOrchard Microfinance Fund in relation to lending agreements of $61m and $30m, respectively. In another highlight, the team advised several Grupo Atlas companies on tendering for public contracts in the energy sector. Moreover, the bench was strengthened recently with the hire of Roberto Rodríguez Zeledón as part of the dispute resolution team; he also has banking, corp and family law experience.


Regional firm CENTRAL LAW Nicaragua provides advice on loans, investment structuring in foreign jurisdictions, negotiation of agreements, and guaranteed and non-guaranteed credits for different types of financial entities. In terms of corporate law, the firm offers a wide range of services, including but not limited to assisting in mergers and acquisitions, drafting contracts, conducting due diligences and resolving disputes between shareholders. The names to note for corporate and finance law are Álvaro Molina VacaMaricarmen Espinosa Segura and Yalí Molina.


In the early summer months of 2018, Spanish firm ECIJA was able to complete its entry into the Central American market by incorporating Expertis Castillo & Fiallos. Currently operating under the combined name ECIJA Castillo & FiallosMaría Antonieta Fiallos and Edmundo Castillo lead the practice, which has been co-ordinating all legal services in the region for DHL for more than a decade. Other corporate services include drafting shareholders' agreements, debt conversions and day-to-day legal advice.

Latamlex Nicaragua

Latamlex Nicaragua’s seven-strong team is jointly led by Álvaro Caldera and Ana Patricia Carrión, and assists clients such as Banco de la Producción, Nicaragua Machinery Company and CrediFactor. The firm, which has a regional presence throughout Central America and Panama, offers corporate and finance services ranging from mergers and acquisitions to loan structurings that often go hand in hand with its expertise in real estate matters.