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Arnold & Porter

601 MASSACHUSETTS AVE, NW, WASHINGTON, DC 20001-3743, USA
Tel:
Work +1 202 942 5000
Fax:
Fax +1 202 942 5999
Web:
www.arnoldporter.com

Eli Whitney Debevoise II

Email:
Arnold & Porter

Career

http://www.arnoldporter.com/whitney.debevoise


Latin America: International firms

Banking and finance

Within: Banking and finance

Arnold & Porter's established connections to Latin America continue to bear fruit, both in the transactional and regulatory arenas. Stemming from a series of engagements for sovereign states in the 1980s, principally in connection with their debt restructurings, the firm cemented its standing with a number of ministries of finance and central banks, which in turn have led to a range of private sector bank relationships; the firm has worked with every president of Brazil’s central bank since the mid-1980s, most of whom have subsequently moved into the private sector. The firm is also a leader in bank regulatory matters, including in relation to Latin American banks’ operations in the US. Senator Christopher Dodd, a senior counsel in the firm and the man behind the Dodd-Frank legislation in the US, is playing a key role in further developing the firm’s regulatory initiatives, most notably in Brazil. On the transactional side, the firm’s merger with Kaye Scholer in 2017 has resulted in the Latin America practice having additional credibility in structured finance, securitisation and derivatives. Key jurisdictions for the practice include Brazil, Colombia, Panama, Costa Rica, Peru and increasingly Argentina. The practice advised Peruvian agro-industrial company, Camposol, on its $200m senior secured term loan facility from Banco Santander and Coöperatieve Rabobank; and in another headline deal, advised Latin American electrical power and natural gas company, Grupo Energía Bogotá, on its $749m unsecured credit facility. Whitney Debevoise has an outstanding record in Latin America, most notably with a number of central banks -such as the Central Bank of Brazil and the Central Reserve Bank of El Salvador- along with private sector lenders including Banco Itau and Banco do Brasil. Gregory Harrington is another recognised Latin America finance specialist with an excellent standing in Brazil and other key jurisdictions such as Peru. Senior counsel Neil Goodman  is an experienced counsel to sovereign states including the Republics of Colombia, Costa Rica and El Salvador. Counsels Arturo Caraballo  and Carlos Pelaez are also key members of the team. All named individuals are based in Washington DC.

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Capital markets

Within: Capital markets

Arnold & Porter continues to be at the forefront of sovereign issuances for a number of Latin American states, quasi-sovereign entities and municipalities. The firm is also noted for securitisation and structured finance transactions, including diversified payment rights transactions. Longstanding clients include the Republics of Colombia, Costa Rica, El Salvador, Honduras and Panama, Federative Republic of Brazil, Bolivarian Republic of Venezuela, Empresa de Transmisión Eléctrica, Camposol Holdings and Grupo de Energía de Bogotá. The practice group advised the Republic of Panama on its $1.2bn global bonds issuance and advised the Republic of Colombia on its  2018 global bond offering and tender offer. Outside the sovereign segment, it advised Camposol on its $500m SEC registered IPO and concurrent listing on NYSE. Whitney Debevoise has a longstanding record in Latin America and has extensive connections to Latin American sovereigns such as Brazil, Panama and El Salvador. Neil Goodman is similarly well plugged-in to the region with a history of engagements from the Republic of Colombia, the Republic of Costa Rica and the Republic of El Salvador. Gregory Harrington has an extensive record in Brazil and Peru, in particular, for clients such as Camposol; while Panamanian native Raul Herrera, Arturo Caraballo and counsel Carlos Pelaez  are also key members of the team.  All named individuals are based in Washington DC.

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International arbitration

Within: International arbitration

Arnold & Porter's client roster features a large number of states, including the Dominican Republic, Chile, Peru, Columbia and Panama, which it represents in investor-state arbitrations. Paolo Di Rosa heads the global international arbitration practice, and was part of the team, which also included London-based  Patricio Grané Labat and Dmitri Evseev, that represented the Republic of Costa Rica in a dispute against Infinito Gold regarding exploration permits and a concession for the exploitation of a gold mine. The team is also assisting the Republic of Peru with a series of disputes in the gas transportation sector.  Washington DC-based Whitney Debevoise, Gaela Gehring Flores and Mallory Silberman are defending the Republic of Panama against a claim filed by the US subsidiaries of Bridgestone Corporation relating to its IP rights.

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London: Finance

Debt capital markets

Within: Leading individuals

Whitney Debevoise - Arnold & Porter

Within: Debt capital markets

Arnold & Porter's debt capital markets practice is best known for its representation of sovereign issuers in international financial transactions, often in challenging jurisdictions. The practice, led by Jeremy Willcocks with support from former US Executive Director of the World Bank Whitney Debevoise, who works in both the London and New York offices, has a stellar client roster that includes the Republic of Azerbaijan, Bosnia and Herzegovina, the Federative Republic of Brazil, Hungary, the Hashemite Kingdom of Jordan, the Republic of Kenya, the Republic of Turkey and the Bank of Zambia. Willcocks, whose innovative work included the debut diaspora bond for the Republic of Nigeria, leads the European side of the practice, while Debevoise focuses on US law.

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United States: Dispute resolution

International arbitration

Within: International arbitration

Arnold & Porter is commended for its track record of acting for sovereign states in investment arbitration. Eli Whitney Debevoise II is representing the Republic of the Philippines in an approximately $2.8bn investor-state treaty dispute brought by Shell Philippines Exploration. The practice group also acts for corporate clients, which recently included head of global international arbitration Paolo Di Rosa and San Francisco-based Maria Chedid representing Turkish energy company Karkey Karadeniz Elektrik Uretim in a $1.8bn ICSID arbitration against the Islamic Republic of Pakistan. The team also represented the Kingdom of Thailand in an investment arbitration that involves a mining dispute between Australian mining companies Kingsgate Consolidated and Kingsgate Capital. Gaela Gehring Flores and Houston office team head Thad Dameris are additional contacts. Kabir Duggal joined as a senior associate from Baker McKenzie LLP. Individuals mentioned are based in Washington DC unless otherwise stated.

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United States: Finance

Capital markets: debt

Within: Capital markets: debt

Arnold & Porter has an increasingly broad debt practice following its 2017 merger with Kaye Scholer, but the firm’s high-profile work for sovereign issuers continues to stand as its strong suit. Among its recent highlights, Washington DC-based international finance specialist Whitney Debevoise advised the Republic of Panama on its $1.7bn global bond issuance, while New York-based capital markets co-head Christopher Peterson advised the Republic of Turkey on $4bn worth of notes offerings. The team is also routinely engaged by corporate issuers, an example of which included San Francisco-based Teresa Johnson advising Charles Schwab on three notes offerings totaling $1.9bn. New York’s Robert Azarow, who co-heads the capital markets group, is also recommended.

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Capital markets: global offerings

Within: Capital markets: global offerings

For corporate issuances, Arnold & Porter brings together regulatory expertise and a strong securities offering to specialize in life sciences and energy-related matters, particularly for Latin American issuers. In a recent example, Washington DC-based Neil Goodman advised Colombia’s Grupo Energía Bogotá on a $750m notes offering. The team's greatest strength, however, is perhaps in sovereign bond deals, where it recently racked up an impressive string of debt issuances for governments worldwide. International finance specialist Whitney Debevoise, also based in Washington DC, is a high-profile name for sovereign capital markets transactions and advised the Republic of Panama on its $1.2bn global bond offering; he also advised on the reopening of the bond, adding $550m to the long-term note, later in the year. The Republic of Turkey is another key client, which the firm has advised on global finance matters for over 20 years. Of late, New York-based Christopher Peterson advised the Turkish government on two notes offerings totaling $4bn.

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Structured finance: derivatives and structured products

Within: Structured finance: derivatives and structured products

Arnold & Porter's structured finance and derivatives group has handled cross-border swap transactions and covered bond offerings, and has also assisted international dealer clients with standalone trading documentation and structured credit matters in the context of debt restructurings. Lawton Camp has experience in  covered bond offerings and Washington DC-based Whitney Debevoise has considerable expertise in cross-border and especially Latin America-facing derivatives agreements. Skanthan Vivekananda joined Orrick, Herrington & Sutcliffe LLP's Los Angeles office in 2019.

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Legal Developments by:
Arnold & Porter

  • The role of arbitrators in EU antitrust law

    In May 2014, it will be ten years since Regulation No 1/2003 entered into force. When the legislator of the European Union adopted this Regulation on 16 December 2002, its main objective was to decentralise the enforcement of the two main provisions of EU antitrust law, Articles 81 and 82 of the Treaty establishing the European Community (now Articles 101 and 102 of the Treaty on the Functioning of the European Union (TFEU)). Where do the arbitrators fit in this picture?‚Ä©
    - Arnold & Porter (UK) LLP

Legal Developments worldwide

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  • Communiqu√© on Equity Crowdfunding Is Officially Published

    By way of background, in January 2019, the Capital Markets Board (‚Äú CMB ‚ÄĚ) had issued an announcement on its website on the Draft Communiqu√© on Equity Crowdfunding [1] . The CMB has now officially published the Communiqu√© on Crowdfunding No. III-35/A (‚Äú Communiqu√© ‚ÄĚ), on October 3, 2019. The Communiqu√© entered into force as of October 3, 2019.
  • Beneficial Ownership Concept new interpretation from the Russian federal tax service

    The recent interpretative letter issued by the Russian Federal Tax Services (‚ÄúFTS‚ÄĚ) on 08th August 2019, has provided further guidance as to the application of the Beneficial Ownership Concept, further to the letter initially provided on the 12th of April 2018 which adopted a strict approach of the concept.¬†
  • Cyprus and Netherlands Double Tax Treaty Update

    Cyprus has concluded the negotiations for the avoidance of double taxation with the Netherlands. The double tax treaty was agreed at technocratic level in Hague. It is expected to be signed by the end of 2019 or early in 2020.
  • Vacancy - Senior Corporate Lawyer

    The Senior Corporate Lawyer, who will be reporting to Partners, will be working with both the firm’s legal team as well as the financial services team. The successful candidate will be requested to show initiative, take on certain responsibilities within the firm, work in a multinational environment and will immediately be given the opportunity to further advance their career within the law firm.
  • CJEU RULED ON THE APPLICATION OF THE BENEFICIAL OWNERSHIP CONCEPT

    The judgment of the Court of Justice of the European Union (CJEU) on February 26, 2019, in the ‚ÄúDanish Beneficial Ownership Cases‚ÄĚ, can be perceived as a landmark on the interpretation of the Beneficial Ownership concept under the Interest and Royalties Directive (IRD) and the Parent-Subsidiary Directive (PSD).
  • Court of Justice rules on source of income for Derivative Residence applications

    On 2 October 2019, the Court of Justice delivered its judgment in Bajratari v Secretary of State for the Home Department (Directive 2004/38/EC) Case C-93/18 which concerns Chen applications and the source of funds for self-sufficiency. 
  • End of the ‚Äėcentre of life test‚Äô in Surinder Singh cases?

    In the recent case of¬† ZA (Reg 9. EEA Regs; abuse of rights) Afghanistan ¬† [2019] UKUT 281 (IAC ), the Upper Tribunal found that there is no basis in EU law for the centre of life test, as set out in Regulation 9(3)(a) of the Immigration (European Economic Area) Regulations 2016 (the ‚ÄúRegulations‚ÄĚ). It further found that it is not to be applied when Judges assess ¬†Surinder Singh ¬†cases that appear before them.
  • ITALIAN RULES ON JOINT VENTURES IN PUBLIC PROCUREMENT AND CONCESSIONS

    Italian rules on jointventures concerning public procurement and concession contracts are set out inlight of the European legal framework provided for in Directive 2014/23/EU and 2014/24/EU of the European Parliament and of the Council. The European rules aim to ensurethe best use of public money so that EU citizens benefit from strategicinvestments and services at fair prices. In this context, public procurementand concessions represent key instruments that need to be regulated and standardisedin order to ensure free movement of goods, freedom of establishment and freedomto provide services.
  • Terms of employment as a sole representative

    In this article we examine the working arrangements of sole representatives, looking at the terms and conditions of employment that the Home Office will expect a sole representative to have in order to qualify as a representative of an overseas business.  
  • Can Sole Representatives Be Shareholders?

    The Immigration Rules require that an applicant for a¬† sole representative visa ¬†is not ‚Äúa¬† majority shareholder in the overseas business‚ÄĚ.