Arias, Fábrega & Fábrega > Panama, Panama > Firm Profile

Arias, Fábrega & Fábrega > The Legal 500 Rankings

Panama > Banking and finance Tier 1

Banking and finance heavyweight Arias, Fábrega & Fábrega fields a diverse practice and stands out for its well-established expertise in multi-jurisdictional transactions. The team frequently acts for lenders, including international banks, multilateral agencies and leading Panamanian financial institutions, on cross-border syndicated loans, refinancings, acquisition finance and project finance. The firm is particularly prominent in advising on the financing of major domestic infrastructure projects, most recently assisting with the financing of Line 3 of the Panama City metro system. It also has a growing emphasis on advising fintech clients. Practice head Estif Aparicio is heavily focused on representing lenders, both local and international, most notably in relation to the financing of energy and infrastructure projects. He is supported by a sizeable team, which includes talented junior partners Fernando Arias F and Javier Yap Endara (who were elevated to the partnership in 2022 and 2023, respectively), senior international associates Cedric Kinschots (who has significant project finance experience) and Donald Canavaggio, and associate Ana Quijano. The practice can also rely on the senior expertise of co-managing partner Ricardo Arango.

Panama > Capital markets Tier 1

Arias, Fábrega & Fábrega‘s capital markets practice remains the first port of call to advise on international bond issuances, acting for a prestigious roster of foreign financial institutions and Panama’s largest banks. Its enviable list of recent mandates includes assisting the underwriters with multiple sovereign bond offerings by the Republic of Panama. In addition, the firm is commended for its longstanding experience in the IPOs of major Panamanian corporations, both locally and on the New York Stock Exchange. Thanks to its regulatory expertise, the team has also played an active role in the drafting of amendments to the Securities Law. The practice is led by the highly experienced duo of co-managing partner Ricardo Arango and Estif Aparicio, both of whom have strong profiles in international matters and are also admitted to practice in New York. Other names to note are up-and-coming partners Fernando Arias F and Javier Yap Endara, and international senior associates Cedric Kinschots and Donald Canavaggio.

Panama > Corporate and M&A Tier 1

A heavyweight in the M&A market, Arias, Fábrega & Fábrega is commended for both the volume and the quality of its transactional work; standout recent highlights include advising on high-profile deals in the financial services sector, and the team has also played a prominent role in M&A in the technology, logistics and food industries. The firm predominantly focuses on cross-border transactions, taking advantage of the strong international backgrounds of its team members (several of whom are qualified in New York and Florida), with a client base that includes multinationals as well as large Panamanian conglomerates. Co-managing partners Ricardo Arango and Rodrigo Cardoze steer the team; the former leads the M&A practice, while the latter heads the firm’s corporate counsel and 360 legal solutions group. The enviably deep bench also includes M&A specialist Andrés Rubinoff; Estif Aparicio, who lends his expertise to finance-related matters; and up-and-coming partners Fernando Arias F and Javier Yap Endara (who were promoted in 2022 and 2023, respectively). International senior associate Donald Canavaggio, international associate Isabella de la Guardia and associate Daniela Delvalle are also key members of the practice. The firm is noted for its commitment to pro bono and CSR, overseen by the Harmodio Arias Madrid committee.

Panama > Dispute resolution Tier 1

Clients praise Arias, Fábrega & Fábrega‘s dispute resolution department for its ‘global capabilities‘ and ‘robust understanding of cross-border regulatory matters‘, which make the firm well placed to handle high-profile, multi-jurisdictional disputes; a standout recent example is its representation of McDermott International in a complex insolvency case. The team is also widely recognised for its strength in international commercial arbitration (particularly proceedings against the Panamanian government) and in domestic litigation, recently appearing in a series of constitutional cases before the Supreme Court. Claudio De Castro, whose extensive practice takes in administrative, commercial, civil, IP, shipping and tax litigation, leads the team with co-managing partner Fernando Arias. Sofía Cohen, who plays a leading role in regulatory disputes, including antitrust cases, and litigation relating to government contracts and concessions, and Juan Corro are also key figures, and the practice was further bolstered at partner level in August 2023 with the addition of Fernando Aued, who is well versed in commercial, civil, administrative and maritime disputes (as well as regulatory cases), from Dentons. The firm also strengthened its junior team in 2022 with the arrivals of associate Mariel Núñez from Britton & Iglesias and international associate Isabella de la Guardia from Baker McKenzie LLP‘s Miami office.

Panama > Offshore Tier 1

Arias, Fábrega & Fábrega wins high praise from clients for its ‘exemplary experience and knowledge‘ across a wide range of issues affecting HNWIs, supported by a broad network of offices in the BVI and Hong Kong, affiliated offices in London, Uruguay and Belize, and its SwissARIFA arm (which provides trustee services and assists with the management of non-traditional assets such as yachts and private aircraft). The firm’s multidisciplinary offering encompasses cross-border wealth planning, the establishment of trusts and foundations, the management of family offices (including corporate governance and succession planning), and international taxation, with an emphasis on setting up tax-compliant structures. Notable names among the team’s ‘first-class lawyers‘ are co-managing partner Fernando Arias, who heads the corporate services practice and oversees the Hong Kong office; the ‘expert‘ Gian Castillero, the leader of the estate and private clients group; and BVI office head Rosa Restrepo. A capable pool of junior lawyers, including senior associate María Guardia and associates Jesús De Luca, Alejandra Tapia and Ana Torres, provides support on the full spectrum of taxation, estates, trusts and foundations matters. Federico Alfaro, who has expertise in tax and estate planning, is currently on a leave of absence while serving as Minister of Commerce and Industry.

Panama > Transport: Shipping Tier 1

Arias, Fábrega & Fábrega‘s shipping practice is renowned for the depth and breadth of its offering, with expertise in both contentious and transactional matters in this space. The team is skilled in advising owners and financial institutions on the financing of ships and shipping operations, as well as in obtaining port operations licences, and it also handles a high volume of registrations of vessels under the Panamanian flag (with a notable strength in the registration of mobile offshore drilling units). On the litigation front, the firm is particularly experienced in representing international clients in cross-border disputes. Practice head Jorge Loaiza III is highly sought after by banks, shipping companies and investors to advise on ship financing, acquisitions, litigation and registrations, while Pilar Castillo is also a standout name for shipping finance. The firm further strengthened its practice in August 2023 with the arrival of Fernando Aued, an expert in maritime litigation, from Dentons.

Panama > Projects and energy Tier 2

Arias, Fábrega & Fábrega‘s active projects and energy practice strikes a balance between transactional and regulatory work. Drawing on the wider firm’s strength in the banking and finance sphere, the team is particularly well known for its prowess in project finance, advising an extensive roster of international financial institutions and multilateral development agencies. The firm’s recent workload spans the financing of projects in the transport, energy, hospitality and public infrastructure (including healthcare) sectors, as well as energy-related M&A. Estif Aparicio, who is renowned for his experience in complex, often cross-border financial transactions, takes the lead on project finance matters, while Sofía Cohen heads the regulatory side of the practice. The sizeable team also benefits from the expertise of up-and-coming partner Fernando Arias F and international associates Cedric Kinschots and Donald Canavaggio.

Panama > Real estate Tier 2

Arias, Fábrega & Fábrega houses a multidisciplinary real estate team, bringing together specialists in corporate, project finance, environmental, regulatory and tax matters. In particular, the firm is noted for its strong hospitality practice, with a wealth of experience in advising prominent hotel and tourism groups on the development of high-end hotel and resort projects. Its diverse client base also includes major financial institutions, real estate owners and developers, and construction groups. Co-managing partner Rodrigo Cardoze, who has a broad corporate and finance practice, is the primary contact in the team, and jointly leads the hospitality group with Fernando Arias F. Highly experienced of counsel María Carolina Arroyo also lends senior expertise to the team.

Panama > Intellectual property Tier 3

Arias, Fábrega & Fábrega houses a wide-ranging IP practice, which is prolific in the registration and renewal of trade marks, as well as handling opposition, cancellation and nullity actions, IP licensing and health registrations. The team is also active in the anti-counterfeiting arena, including coordinating a training programme for Panama’s customs authority. Drawing on its membership of global networks such as Lex Mundi, the firm frequently joins up with law firms worldwide to assist international companies in protecting their IP portfolios in Latin America and further afield. Rosa Restrepo oversees the practice, while associate Melissa Del Busto is skilled in both contentious and non-contentious matters, and brings in-house experience at the Ministry of Health when advising on health registrations.

Panama > Labour