Banking and finance in Venezuela

D'Empaire

D'Empaire has a strong reputation in the market for its banking and finance practice. It covers, on the one hand, transactions and financings, such as asset-backed loans, syndicated loans and foreign exchange transactions, but also advises on regulatory and compliance issues for local and foreign financial institutions. Fulvio Italiani is noted for his broad expertise in finance, corporate and energy matters; he jointly leads the practice with restructuring and sovereign debt expert Carlos Omaña. The team was enhanced by the arrival of Roland Pettersson from LEC Abogados in June 2019.

Practice head(s):

Fulvio Italiani; Carlos Omaña

Key clients

Credit Suisse

Work highlights

  • Advised Credit Suisse on various regulatory mandates.
  • Assisted a German bank in connection with the unwinding of several repurchase transactions.

Dentons

Dentons covers the full gamut of banking and finance matters, including acquisition finance, debt restructuring, debt and equity capital markets, insurance and reinsurance, project finance, securitisation, and structured, trade and commodity finance. The team has a strongly international outlook and also advises on current topics such as fintech and cryptocurrency. It is led by Rubén Eduardo Luján, who, like Natalija Vojvodic and Daniela Jaimes, also has strong expertise in the oil and gas sector. Clients are mostly international banks and insurance companies.

Practice head(s):

Rubén Eduardo Luján

Testimonials

The global nature of Dentons is impressive.

Rubén Eduardo Luján is very helpful in navigating challenges.

Key clients

Arthur J. Gallagher & Co.

Bank of Montreal

Bank of Nova Scotia (Scotiabank)

Banesco Seguros

Bupa

Comercia Global Payments (an affiliate of CaixaBank)

Ledn.io

Leĝa Abogados

The team at Leĝa Abogados impresses with its in-depth knowledge of the banking and finance sector; it is active in the negotiation of credit facilities, securitisation of loans and representing the offices of foreign banks in their activities in Venezuela. The group, which has a strong standing with Asian banks, is also able to advise on a variety of loans, stock market matters and compliance issues. Miguel Rivero is well versed in financing transactions in the energy sector. His practice co-head, Pedro Urdaneta, joined in April 2019 from the now-defunct Imery Urdaneta. José Alberto Ramírez and Luis Eduardo López-Durán are also noted.

Practice head(s):

Miguel Rivero; Pedro Urdaneta

Testimonials

The team has a strong capacity to provide a global vision of legal needs, looking beyond the local legal structure. Its solutions are adapted to multinational companies and legal services are tailor made for each legal structure. It compares very favourably with other law firms thanks to its excellent track record in deals for global companies and its ability to analyse the impact of the solutions presented for Venezuela on the complex legal structures of global clients operating in multiple jurisdictions.’

Pedro Urdaneta is an outstanding partner, highly recommended and an excellent lawyer. His education and work experience in the US gives him the ability to generate comfort and trust.

Key clients

The Bank of Nova Scotia (Scotiabank)

Citigroup Global Markets

Bank of America Merrill Lynch

Amerant Bank

Bank of Tokyo Mitsubishi

Bryan Cave Leighton Paisner

Commerzbank

Invecine

Bank Hapoalim

Houthoff and Lehman Brothers Treasury

Work highlights

  • Assisting Scotiabank with the planning and execution of the selling of its interest in Bancaribe.
  • Provided a legal opinion to Citigroup Global Markets and its related entities on the legal validity and enforceability of the contractual arrangements relating to the ISDA master agreement and global master repurchase agreement executed with Corporación Andina de Fomento.
  • Advised Bank of America on the research, analysis and issuing of a legal opinion regarding the possibility of offering foreign securities to Venezuelan customers.

ARAQUEREYNA

Araquereyna's practice offers advice to financial and capital markets institutions as well as to insurance companies on a variety of topics; areas of focus include contracts, secured transactions, regulatory issues and exchange control matters, among others. Team heads Pedro Planchart and Gustavo Reyna have more than 80 years of experience between them. Pedro Sosa and Rodrigo Moncho Stefani complete the group.

Practice head(s):

Pedro Planchart; Gustavo Reyna

Key clients

Banco del Caribe

Simmons & Simmons

JP Morgan Chase Bank/JP Morgan Securities

Kennedys CMK

City Bank Private Banking

Banco Santander International/Banco Santander (Suisse)

Chubb Insurance

UBS

Banco Mercantil

Novo Banco

Work highlights

  • Providing advice to law firms such as  Simmons & Simmons and Debevoise & Plimpton on banking, capital markets, exchange control regulations and principles of banking contracts under Venezuelan law.

InterJuris Abogados

The team at InterJuris Abogados has experience in project, debt and securities financings, syndicated loans, sovereign debt and fund creation. The Miami-based team mainly acts for foreign banks and funds with a strong focus on the US and the Caribbean, and is noted for its expertise in the energy sector. Juan José Delgado and María Cecilia Rachadell jointly lead the group; like Gabriela Rachadell de Delgado, they combine banking, finance and corporate knowledge.

Key clients

Nodus International Bank

Arca International Bank

Experian Soluciones V

HES Group

Alaluz Capital

Otepi

Inelectra

Gazprom International

Vinccler

Work highlights

  • Assisted Vinccler with the financing process after winning the bidding round for a project in Venezuela.
  • Advised HES Group on the financing operation for the purchase of the Embassy Suites and the Silver Sun Gallery, both located in Santo Domingo.
  • Advising Alaluz Capital on an ongoing basis on the structuring of private equity funds with clients in Latin America.

Mendoza, Palacios, Acedo, Borjas, Paez Pumar & Cia.

Mendoza, Palacios, Acedo, Borjas, Paez Pumar & Cia. sees instructions in particular from the lender side, and advises national and foreign banks as well as other financial institutions. Another considerable field of activity is in the insurance sector and, more recently, sanctions. With a strong cross-practice approach, the team also covers areas such as regulatory, tax, corporate and litigation matters. Carlos Eduardo Acedo, Luisa Acedo and Manuel Acedo Sucre jointly lead the practice, which also includes Luisa Lepervanche and Diego Lepervanche.

Key clients

Citibank

Banco Mercantil and Merinvest

Tokio Marine

Munich Re and Munchener de Venezuela

Holman Fenwick

Real Seguros (formerly Zurich Insurance)

Banco del Caribe

Kennedys Latin America

Venezolano de Crédito

BNC

Work highlights

  • Advised foreign reinsurers, such as Tokio Marine and Munich Re, with regard to granting reinsurance coverage in Venezuela, insurance claims, exchange controls and registration with the local regulator.
  • Assisted Citibank with advising local clients regarding, among other things, banking, insurance and investment products originated abroad.
  • Advised Venezuelan subsidiaries of multinational companies, such as the Coca-Cola Company and MSD Farmacéutica, on exchange control regulations.

Rodner, Martínez & Asociados

Rodner, Martínez & Asociados is a boutique law firm with a strong reputation for its activity in the banking and finance area. The team provides comprehensive advice on a variety of transactions, tax and regulatory matters, and loans, swaps and credit agreements. The key contacts are James-Otis Rodner and Jaime Martínez Estévez.

Altum Abogados, S.C.

The team at Altum Abogados, S.C. is experienced in handling financial transactions and corporate finance mandates, and also advises on credit operations, syndicated loans, project financing, derivatives and collaterals, as well as insolvency and debt restructuring. Álvaro Posada Sessarego has more than 30 years of experience in the field; he leads the practice with Alfonso Porras Machado, who also has expertise in corporate matters and disputes.

Raffalli de Lemos Halvorssen Ortega y Ortiz

The practitioners at Raffalli de Lemos Halvorssen Ortega y Ortiz are instructed to advise on structured transactions and collateralised debt obligations, as well as financial lease and consumer credit matters, among others. The team is also noted for its regulatory, crisis and intervention expertise. The key contacts are Jose Manuel Ortega Sosa and Rafael de Lemos Matheus.

Rodríguez & Mendoza

The team at Rodríguez & Mendoza advises on loan agreements, debt restructuring and the securitisation of assets, as well as project finance, foreign investment and general banking law. Close firm-wide collaboration enables the team to provide clients with additional tax and regulatory assistance. Names to note are the experienced Reinaldo Hellmund and Miguel Velutini.

Practice head(s):

Reinaldo Hellmund

Tinoco, Travieso, Planchart & Núñez

Tinoco, Travieso, Planchart & Núñez advises on transactions, securities and bankruptcies as well as insurance and reinsurance matters, often for international clients; in these mandates, the firm's alliance with Holland & Knight LLP's Venezuela focus group adds value. Gustavo Planchart PocaterraJosé Santiago Núñez Gómez and regulatory specialist Alfredo Travieso are prominent practitioners.

Travieso Evans Arria Rengel & Paz

Clients such as issuers, insurers, investment bankers and financial advisers, as well as national and international financial institutions, instruct Travieso Evans Arria Rengel & Paz in a broad range of banking, finance and capital markets matters. The team's offering includes assistance with loan contracts, guarantee agreements, investments and debt financing, among other matters. Key contacts Pedro Rengel Nuñez and Simón Guevara Camacho each have more than 20 years of experience in the field.