Firm Profile > B. Cremades & Asociados > Madrid, Spain

B. Cremades & Asociados
28001 MADRID

Dispute resolution Tier 4

A ‘true specialist’, B. Cremades & Asociados is a ‘unique office in international arbitration, a luxury boutique’. The international commercial and investment arbitration practice acts for clients in cross-border disputes arising in Europe, North America, Latin America and the Middle East, with particular expertise in construction and infrastructure disputes, as well as energy, investment and joint ventures issues. Another area of expertise is IP arbitration. Founder and senior partner Bernardo Cremades leads the team and is known for his expertise in international commercial and investment arbitration. Also notable are dispute specialists Ángel Tejada, Bernardo Cremades Jr. and Javier Juliani Aznar. David Cairns left the firm in 2020 to become an independent arbitrator.

Practice head(s):

Bernardo Cremades

Other key lawyers:

Ángel Tejada; Bernardo Cremades, Jr.; Javier Juliani Aznar


‘It is a unique office in international arbitration. It is a luxury boutique.’

‘A true specialist.’

Key clients

Compañía de Inversiones Mercantiles, S.A. (CIMSA)

Inversiones Continental (Panamá), S.A.

Blue Bank International &Trust

Ibercaja Banco, S.A.

Comunidad Judía de Madrid & Federación de Comunidades Judías de España

Glenn Maud, Dereck Quinlan and Cruz Holdings Limited

Latin America: International firms > International arbitration > International arbitration Tier 5

B. Cremades & Asociados' work highlights include various ICSID proceedings, with the team currently acting for Blue Bank International & Trust (Barbados) against the Republic of Venezuela in a $400m award annulment case; as well as representing Inversiones Continental against the Republic of Honduras, in a case arising from the State's forced liquidation of Banco Continental. Founding partner Bernardo M Cremades S heads the entirely Madrid-based practice alongside Bernardo Cremades Román; both specialise in major construction and infrastructure-related investment treaty and commercial arbitrations. Other matters involve clients from the energy, gaming and pharmaceutical sectors, with Ángel Tejada a further contact of note. David Cairns left the firm in January 2020 to become a full-time independent arbitrator at the IAC.


The team at Cremades that attends to arbitral proceedings and contentious matters in general is exceptional. The lawyers’ knowledge of the norms of international arbitration is excellent.  Their dedication to the details of the proceedings and to ensuring that the proofs are of sufficient strength to ensure success, make them in my opinion- the outstanding option among all the firms with which i have had the pleasure to work.

I am referring to the following partners and associates with who I’ve worked at the firm: Bernardo Cremades Román, José María López Useros y Paloma Carrasco García. They are incisive and very analytical of the procedural details, and very clear in their explanations and details regarding the strengths and weaknesses of the proofs and arguments of the parties of the cases they undertake. The added-value that makes them stand out is their ability to anticipate the differing circumstances that could arise in the course of the proceedings and in their rapid response before such situations.

Key clients

Compañía de Inversiones Mercantiles (CIMSA)

Inversiones Continental (Panamá)

Blue Bank International & Trust

Mr. Raimundo Santamarta Devis

The firm: B. Cremades & Asociados was founded in 1969 by Professor Bernardo M Cremades. Since then, it has consolidated its reputation as a leading firm in international law and, in particular, international commercial and investment arbitration. It has a team of approximately 20 lawyers with a high degree of specialisation in the firm’s strategic areas. All its lawyers enjoy international profiles, allowing the firm to provide advice on both common law and civil law matters. Several of its attorneys are members of the Bar in jurisdictions other than Spain, including jurisdictions within the European Union, the United States and Latin America.

B. Cremades & Asociados is the pioneer of arbitration in Spain (both commercial and investment protection arbitration). Bernardo M. Cremades, the managing partner of the firm, has participated as counsel or arbitrator in more than 370 arbitration proceedings. He is one of the most experienced arbitration practitioners in the world and the undisputed leader in the Spanish-speaking market. Bernardo M. Cremades has been responsible for some of the most significant doctrinal developments in the history of arbitration, including the recognition of the lex mercatoria, the formation of the arbitration agreement under investment protection treaties, and the definition of the term ‘investment’ in international law.

Areas of practice: B. Cremades & Asociados’ principal practice areas are national and international dispute resolution. It also advises on corporate, financial, administrative and tax law.

With regard to the firm’s arbitration practice, its attorneys are thoroughly familiar with the most commonly used arbitration rules. The firm’s lawyers have participated in many significant investor-state arbitrations as counsel, party-appointed arbitrators or presiding arbitrators. No other office in Spain approaches the firm’s level of expertise in this field. The firm also has strong expertise in commercial arbitration relating to various sectors, including energy, oil, gas, natural resources, construction, engineering, pharmaceuticals, transportation, telecommunications, intellectual property, national and international procurement, corporate arbitrations, joint ventures, international sale of goods and distribution contracts.

The firm’s litigation practice also enjoys a world-class reputation. Its clients are both individuals and companies, whether national or foreign, who come to the firm because of its extensive experience in complex litigation. In this regard, the firm handles all types of civil, commercial, tax and contentious-administrative disputes.

The experience of B. Cremades & Asociados in corporate and tax law gives it a unique position in the Spanish market, which is reflected in the firm’s reputation nationally and internationally. Some of the Firm’s attorneys are former auditors and inspectors of the Spanish Tax Authority. The firm’s experience acquired in investment protection arbitrations allows it to design and implement corporate structures which, on one hand, maximise tax efficiency and, on the other, minimise political risk.

Department Name Email Telephone
Investor-state and international commercial arbitration Bernardo M Cremades +34 914237200
Domestic arbitration and ADR Angel M Tejada +34 914237200
Corporate finance Javier Rodríguez Santos +34 914237200
Corporate finance Belén Nadal +34 914237200
Investor-state and international commercial arbitration Bernardo M Cremades Jr. +34 914237200
Domestic arbitration and ADR Javier Juliani +34 914237200
Investor-state and international commercial arbitration José M López Useros +34 914237200
Photo Name Position Profile
Mr Bernardo Cremades  photo Mr Bernardo Cremades Bernardo M. Cremades is senior partner of the Spanish law firm, B.…
Mr Bernardo M. Cremades Jr.  photo Mr Bernardo M. Cremades Jr. Bernardo M. Cremades, Jr., admitted to practice law in Madrid and in…
Mr Javier Juliani  photo Mr Javier Juliani Javier Juliani is a partner of B. Cremades y Asociaodos, specialising in…
 José M. López Useros  photo José M. López Useros José M. López Useros actively participates in investment arbitration proceedings and in…
 Belén Nadal Jiménez  photo Belén Nadal Jiménez Belén Nadal is a partner of the firm B. Cremades y Asociados,…
 Francisco Javier Rodríguez Santos  photo Francisco Javier Rodríguez Santos Francisco Javier Rodríguez Santos is a Partner of B. Cremades y Asociados…
 Ángel M Tejada  photo Ángel M Tejada Angel M. Tejada works in the arbitration and litigation group of B.…
Number of lawyers : 20


Since its establishment in 1969, B. Cremades & Asociados has been committed to maintaining a high level of diversity among its workforce. It is through B. Cremades & Asociados’ diversity of culture and backgrounds that it is able to offer its clients a highly specialized and developed practice in areas of international law. The firm is comprised of a large mix of nationalities and languages with legal training from a multitude of both common law and civil law jurisdictions. The maintaining of B. Cremades & Asociados’ strong commitment to cultural diversity allows the firm’s teams to work together in a highly creative, collaborative, and innovative environment, where diversity of opinion is encouraged rather than repressed. The firm’s differences in background, language, perspectives and training fortifies the firm’s strong values and ensures the provision of a tailored service to meet and exceed clients’ needs. B. Cremades & Asociados is focused on ensuring the continuity of its diversity and making it a larger part of our future growth.

Pro Bono / Community

B. Cremades & Asociados maintains a strong record of working in and seeking to serve the needs of the community at large. The firm has taken on a number of pro bono cases including, more recently, advocating for the return to its rightful owner of artwork stolen by the Nazis during the Holocaust. The firm’s commitment to exercising a social conscience is evidenced by the numerous cases in which the firm has been involved in over the course of its long and rich history.

The firm is further devoted to ensuring the passing on of its knowledge and expertise to the next generation of lawyers. A number of the firm’s partners are regularly engaged and volunteer with universities and law student groups in discussing the development of exciting and pressing legal issues. The firm expends its time and resources both at home and abroad in furthering the development of the law and ensuring that these conversations take place in an open and inclusive environment.