Delvalle, Escalona, Levy & Corró > Panama City, Panama > Firm Profile

Delvalle, Escalona, Levy & Corró
Midtown Building, Floor 10
Office 10-05A, 74 street
San Francisco, Panama City

Panama > Transport: Aviation Tier 2

Hailed by clients for its ‘extensive industry knowledge‘, the ‘exceptional group of attorneys‘ at Delvalle, Escalona, Levy & Corró continues to rapidly expand its aviation law practice, acting for a growing list of international and regional airlines, aviation leasing companies and international aviation associations. The team is particularly skilled in advising new and established airlines on the regulatory issues relating to the launch of their Panamanian branches, including registration and obtaining air operator certificates (AOCs). It also assists large foreign carriers with day-to-day regulatory, corporate, labour and tax issues affecting their operations in Panama, supported by the multidisciplinary firm’s other departments. Felipe Escalona, who wins praise for ‘perfectly meeting‘ clients’ requirements, leads the team.

Practice head(s):

Felipe Escalona


‘They are proactive and diligent attorneys. They meet clients’ requirements with great speed.’

‘Aviation law is a specialty that is not usually available in multidisciplinary law firms and requires up-to-date knowledge and experience that is difficult to find. As an in-house lawyer, I need experience, knowledge, reliability, confidence and fast responses from external firms; my contact at Delvalle, Escalona, Levy & Corró, Felipe Escalona, perfectly meets these needs. I must add that the personalised service is excellent. The firm’s best quality is that it meets all the above-mentioned requirements.’

‘Delvalle, Escalona, Levy & Corró has an exceptional group of attorneys. They attend to clients’ needs very quickly with extensive industry knowledge and in-depth legal knowledge.’

‘Personalised service and rapid responses.’

‘Professionalism, knowledge and friendliness.’

‘In aviation law matters, the team at DELCO has two extraordinary qualities: know-how and know-who. That combination makes their services successful and highly competitive.’

‘Their singular passion for providing a good service means each assignment is carried out energetically, with enthusiasm and optimism.’

Key clients

Turkish Airlines

Cargojet Airways



Air Europa

Gate Gourmet

Servicios Aéreos Nacionales (SANSA)

Viva Aerobus (Aeroenlaces Nacionales)

Air Panama

Airports Council International – Latin America and the Caribbean (ACI-LAC)

Gol Linhas Aéreas Inteligentes


Atlas Air

Islas Secas Reserve & Lodge

Líneas Aéreas Suramericanas

Work highlights

  • Advising Arajet on establishing its presence in Panama and securing all required permits to operate as a foreign air carrier in Panama, including the AOC.
  • Advised Costa Rica-based regional airline Servicios Aéreos Nacionales (SANSA) on obtaining all the necessary permits to operate regular flights to Bocas del Toro.
  • Advising Air Panama on the continued expansion of its operations.

Panama > Corporate and M&A Tier 4

Delvalle, Escalona, Levy & Corró is establishing a strong foothold in the Panamanian market, serving as an ‘indispensable resource‘ for both domestic and international clients. The team advises on a steady stream of M&A and corporate restructurings, with an emphasis on transactions relating to distressed assets held by local financial institutions, particularly in the real estate sector. Founding partners Alberto Levy (whose practice spans M&A, commercial and real estate matters), Diego Corró (a name to note for the financial and real estate sectors), Felipe Escalona (a specialist in aviation) and Ricardo Delvalle (who focuses on the regulatory space) lead the practice.

Practice head(s):

Alberto Levy; Diego Corró; Ricardo Delvalle; Felipe Escalona


Practical, fast and efficient. They go the extra mile without charging for each move and they are reasonable with the client. I consider them an indispensable resource. I have recommended them to many people who have used them and will not change.

Tremendous people – they are eloquent, respected by others in the market and always available to assist us, acting with a sense of urgency as if the issues were theirs. They understand all aspects of their clients’ businesses, and their service and advice goes beyond the legal issues.

The team stand out for their attention to detail and clarity in their written communications, meetings and recommendations.

Accessibility and availability.

They are agile, available at all times, effective and direct.

Youth, energy, availability and efficiency.

Key clients

Petróleos Delta


Turkish Airlines

Abbott Laboratories



The Oxford Schools


Inversiones Centro Americanas (ICASA)

Norfolk Capital Advisors

Work highlights

  • Assisted Norfolk Capital Advisors in the due diligence process, negotiations, structuring and execution of agreements pertaining to the acquisition of a distressed real estate development project consisting of a skyscraper in Panama City.
  • Advised IEH International on the acquisition of 100% of the shares of the J3 Corp companies to expand its network of laboratories and consulting firms.
  • Advised Colliers Caac (an affiliate of Grupo Siuma) on the acquisition of the Costa Rican assets of a subsidiary of Colliers Canada, and on the assignment of a sublicence agreement giving the client the licence for Colliers in Costa Rica.

Delvalle, Escalona, Levy & Corró (Delco) is a full-service law firm focused on the recurring needs of operating companies, serving as a reliable business partner and an ideal alternative to traditional law firms. We strive to achieve a perfect balance between the classic and the modern: attorneys cut from the traditional school of commitment to service and the defense of client’s interests, while enjoying the operational flexibility afforded by technology.

Our streamlined and flexible platform allows us to offer tailor-made solutions, facilitating work with a broad range of clients, including individuals, startups, traditional enterprises seeking legal modernization, and highly sophisticated players requiring counsel for their operating interests or a specific transaction.

The firm is driven by innovation. We are constantly seeking feedback and advice from clients to provide a legal service that meets their current standards.  As such, clients can expect a friendly and dynamic approach to our legal services.

Our partners are business-oriented attorneys, offering solid advice on the basis of local and international studies in high-level institutions, and several years of work experience, having played key roles in transactions at the highest levels of complexity.

Main areas of practice
The firm provides comprehensive assistance to clients in their relationship with the administrative authorities, managing permitting requirements as well as offering direct representation in ongoing matters. Delco advises clients in highly regulated sectors, such as the aviation industry, where a partner has achieved top-notch status as a specialist. Additionally, the firm has a growing practice in health, energy, and oil and gas.

Banking and finance: Delco provides advice to banks and financial companies in current and new business ideas, by providing a thoughtful interpretation of the law as well as creative structuring ideas and frameworks for innovative endeavors. Delco’s success in this sector is powered by previous experience within the banking industry.

Commercial and M&A: In perhaps the most important practice area, the firm handles individual and corporate commercial matters that make up the daily business of companies. Our cost-effective approach is highly regarded by our clients, who then seek advice in recurring issues, when they may have been priced out of receiving such advice with other firms. Delco has handled several acquisitions in the past years, including transactions with top players in education, health, real estate, financial services, and logistics, as well as transactions involving multiple jurisdictions.

Corporate and estate planning: The partners’ active role in the Panamanian business sector as well as their international relations serve as the engine for a thriving corporate and estate planning practice. Our firm offers a tailor made service in these regards, avoiding a traditional wholesale approach.

Real estate: The firm advises real estate developers throughout all phases of their development process: structuring, shareholder relations, land acquisition, permitting, construction contracts and assistance in the sale and transfer process. The firm also advises individual clients seeking to purchase property in Panama.

Other practice areas include dispute resolution, tax, technology, immigration, and labor. The firm also offers complementary services such as incorporations in offshore jurisdictions (BVI, Belize, Delaware), bookkeeping, payrolls, and virtual offices.

Department Name Email Telephone
Administrative Ricardo Delvalle
Aviation Felipe Escalona
Banking and Finance Diego Corró
Commercial and M&A Alberto Levy
Corporate and Estate Planning Felipe Escalona
Offshore services Felipe Escalona
Real Estate Alberto Levy
Tax Diego Corró
Other fee-earners : 6
Partners: : 4