Mrs Elizabeth Heurtematte Kochman > LOVILL > Panama City, Panama > Lawyer Profile


Work Department

PRACTICE AREAS: Corporate and Business Law/M&A, Global Wealth and Private Client Banking and Finance, Dispute Resolution.

Head of the Corporate and Business Law/M&A Departament.


Founding Partner


Elizabeth Heurtematte leads the firm’s Corporate and Business Law/M&A, Banking and Finance, Global Wealth and Private Client and Compliance/AML practice areas. She specializes in advising multinational companies, family offices and private clients. Her clients are mostly in the financial, real estate, consumer goods and service sectors. She serves in corporate boards in banking, real estate, insurance and investment companies and is active in the nonprofit sector. Elizabeth has a B.A. in International Relations and Latin American Studies from the Elliot School of International Affairs at George Washington University, where she graduated summa cum laude and was named distinguished scholar of Class of 2003. She also has a Juris Doctor from Northwestern University School of Law and a Master’s Degree in Law and Administration from INIDEM Business School in Panama.

She is also advisor to multiple multinational companies, whose objective is to establish themselves in Panama and performs the accompanying corporate, regulatory, and fiscal development for their establishment and operation in Panama.

 She has been recognized as a Leader Lawyer by Chambers & Partners in their Global & Latin America edition. She is a Fellow of the Central American Leadership Initiative (Aspen Institute). In addition, she is a Founding Member and has served as Director of the Panama Chapter of Women Corporate Directors and a member of Executive Forum.

 She is a Director of the following organizations: Contemporary Museum of Panama (Museo Contemporaneo de Panamá), The International School of Panama, ADESVA (a non-profit organization which works for the sustainable development of El Valle de Antón), the Heurtematte Foundation  (a non-profit organization dedicated to promoting the arts, education and social development in underprivileged communities in Panama), President of Isthmian Investment (Family Office with investments in real estate, operator of financial transactions in Panama and abroad), & Hacienda San José (cattle, agricultural, and reforestation ranch which operates in Pacora, Panama).



English, Spanish, French


She is a member of the Panama College of Lawyers.


  • INIDEM Business School (Panama). Master in Law and Management (LLM)
  • Columbus University (Panama). Degree in Law and Political Sciences.
  • Northwestern University School of Law (United States). Juris Doctor – J.D. (Lawyer).
  • George Washington University (United States). Degree in International Relations and Latin American Studies.

Lawyer Rankings

Panama > Labour

LOVILL‘s ‘solid and dynamic‘ team counts companies from a broad range of sectors, including tourism, entertainment, financial services, logistics, pharmaceuticals and transport, among its clients. It is active in advising multinationals with operations in Panama on the labour aspects of winding down and restructuring, but also assists with employment contracts, terminations, the negotiation of collective bargaining agreements, labour disputes, the creation of discrimination and inclusion policies, immigration issues and compliance with changing government regulations during the pandemic. ‘Intelligent, dedicated and well-organised‘ senior associate Jeannette Bravo, who has particular expertise in advising international clients on labour and immigration matters, leads the practice with head of corporate Elizabeth Heurtematte and disputes specialist Isabel Cristina López.

Panama > Real estate

LOVILL‘s expertise in real estate matters ranges from transactions involving plots of land and the development of commercial and residential projects to advice on the horizontal property regime and lease agreements. In addition, the team has recently been active assisting with leasing issues stemming from the Covid-19 lockdown. Clients include large local and international real estate developers. The practice is led by founding partners Elizabeth Heurtematte, who has expertise in the tax planning and financing of real estate projects and in regulatory issues surrounding developments in the historical Casco Antiguo district of Panama City, and Isabel Cristina López.

Panama > Tax

LOVILL is highly active in advising domestic and international companies on the tax aspects of corporate transactions, as well as on tax incentives for clients based in the state and private free zones and international taxation and compliance. The team counts banks and financial institutions among its clients, in addition to companies from the services, commerce, real estate and hospitality sectors. Practice head Elizabeth Heurtematte, who is based in Tokyo and Panama City, is experienced in advising on corporate tax structuring, as well as in assisting private clients with tax issues. Associate Ana Carolina Ureña focuses on advising investment companies and multinationals.

Panama > Corporate and M&A

(Leading individuals)

Elizabeth HeurtematteLovill

The ‘diligent and client-focused‘ team at Lovill is experienced in both local international corporate transactions, acting for multinational companies, family offices and foreign investors. The team advises on M&A, corporate restructurings, joint ventures and compliance, and in 2020 launched a related TMT practice to assist clients launching e-commerce businesses during the pandemic. Practice head Elizabeth Heurtematte leads the team, all of whom are founding members or directors of Axxion, a group which connects and promotes women professionals. Other key contacts include the ‘excellentIsabel Cristina López, senior associate Jeannette Bravo, who has additional labour law expertise, and associates Ana Carolina Ureña and Alejandro Fung.

Panama > Banking and finance

Lovill has notable experience in fintech matters and M&A in the financial services sector, as well as syndicated loans and the restructuring of credit facilities. The team focuses on acting for banks operating in the region, foreign investment funds and trust companies, and corporations in the key sectors of services, commerce, real estate and hospitality. Practice head Elizabeth Heurtematte, who is based in Tokyo and Panama City, has longstanding experience in cross-border transactions, while associate Ana Carolina Ureña brings additional tax expertise to the team.