Demarest Advogados > Sao Paulo, Brazil > Firm Profile

Demarest Advogados > The Legal 500 Rankings

Brazil > Corporate and M&A Tier 1

With over seventy years of experience in domestic and cross-border M&A, Demarest Advogados routinely handles a significant volume of large-cap, and oftentimes innovative, transactions on behalf of Brazil’s foremost companies, private equity players and financial institutions. The team, which has developed special regional groups composed of dual-qualified professionals, is seen with great regularity advising on multi-jurisdictional deals, including inbound and outbound investments, where the team acts for Brazilian blue-chip companies looking to expand their operations internationally. Its recent workload includes advising on the structuring of the first special purpose acquisition company (SPAC) registered with the Brazilian Securities and Exchange Commission (CVM), and on the implementation of the first go-shop provision in a merger agreement in Brazil. The firm has adopted a number of structures and initiatives aimed at enhancing diversity and inclusion, including D Mulheres, a gender equality group focused on the fair distribution of opportunities within the profession; D Mais, which aims to foster a welcoming work environment for everyone irrespective of sexual orientation; and D Raízes, which works against racial discrimination. Corporate governance and M&A specialist Luciana Cossermelli Tornovsky ‘evaluates situations with depth, but also practicality‘. With ‘in-depth knowledge of corporate and M&A‘, José Diaz manages a varied transactional workload covering M&A and corporate reorganisations. Paulo Coelho da Rocha brings experience in mergers, acquisitions and corporate governance, while Ana Carolina Botto Audi is particularly seasoned in private equity and venture capital investments, going-private deals and joint ventures. Thiago Sandim, who has a longstanding reputation in the field; Joyl Gondim, who excels in mid-market deals; key contact for infrastructure-related matters Gabriel Kuznietz; Bruna Toledo Pacheco; and Daniel Caramaschi also form part of the core team. Focused on M&A, private equity and corporate reoganisations, Fábio Tayar is a name to note at the associate level.

Brazil > Insurance Tier 1

Demarest Advogados has a market-leading and multidisciplinary insurance practice, whose experienced lawyers are praised for their ‘availability and prompt delivery'. The São Paulo-based team offers clients, including major domestic and international insurers and reinsurers, a broad array of non-contentious expertise, covering corporate finance, M&A, partnership and distribution agreements, and regulatory compliance. Insurance disputes and damages claims also feature prominently on the agenda, with department head Marcia Cicarelli regularly representing insurers in multimillion-dollar claims across a range of industries. Other key individuals include Andre Alarcon, who is noted for corporate matters. Recently promoted partner Camila Prado is a lead contact for strategic and claims litigation, while senior associate Laura Pelegrini provides ‘state-of-the-art legal access’. Luciana Prado is no longer at the firm.

Brazil > International trade Tier 1

Demarest Advogados has an ‘exceptional‘ international trade team, which regularly handles ‘very complex cases and processes large volumes of information and documentation‘. The firm is regularly found on Brazil’s largest trade remedies investigations, with expertise covering a wide range of industries, including manufacturing, steel, fashion, food and automotive. This experience extends to trade remedies cases initiated by other countries, including matters in the US, Europe and Argentina. WTO cases also feature prominently, with the Brazilian Government often instructing the firm. Practice head José Diaz is highly experienced in anti-dumping measures and related disputes. Other key partners include Oswaldo De Moraes, who has over 45 years’ experience, Camila Biral, Victor Lopes and recently promoted partner Fernando Bueno, ‘a brilliant lawyer who can put together very complex filings and has a great sense of strategy’.

Tax > Customs Tier 1

Brazil > Banking and finance Tier 2

Demarest Advogados is considered by its banking clients to be ‘unique in its technical quality, in-depth knowledge of the subject and close relationships'. The well-regarded team has a good reputation for regulatory advice to banks, funds and fintechs, with practice head Fabio de Almeida Braga commended for being ‘excellent in the management of complex processes and technical knowledge'. On the transactional side, the firm advises on syndicated loans, project and trade finance, securitisations and structured products. Senior associate Marcelo Ikeziri is a key member of the team. Former partner Helen Naves left the firm in 2021.

Brazil > Capital markets Tier 2

Demarest Advogados has a versatile practice, with a good technical understanding of Brazil’s debt and equity capital markets. Recently, the firm was involved in several firsts, including advice to Alvarez & Marsal, as sponsor, on Brazil’s first SPAC IPO. Advising StartMeUp on the launch of a new platform for start-ups to attract investment through the sale and trade of tokenised securities is further evidence of the team’s capacity for innovation. Clients include major banks, investment funds and debt issuers in key industries such as agribusiness and energy. Thiago Giantomassi leads the experienced team, which includes Joao Paulo Minetto, who is active on the equity capital markets side, and recently promoted partner Leticia Galdino Wanderley.

Brazil > Competition and antitrust Tier 2

The ‘dedicated, technical and agile team‘ at Demarest Advogados is regularly engaged by major companies in the healthcare, education and technology sectors, among others, and also maintains relationships with leading international law firms in the UK and US. The practice is well versed in behavioural investigations into cartels and other forms of anti-competitive conduct, while on the mergers side, the firm stands out for its track record in complex cases. With a sizeable team dedicated to competition and antitrust, the firm brings together the expertise of its experienced professionals. Paola Pugliese is the chair of the Competition Commission of the ICC for 2022 and 2023, and acts for clients in high-profile competition investigations and proceedings; Daniel Oliveira Andreoli stands out for his role in negotiating leniency and settlement agreements; Bruno Drago is particularly active in abuse of dominance cases; and Milena Fernandes Mundim draws on her previous experience both in CADE and an international law firm to advise on cross-border mergers, and was elected chief executive of the Competition Commission of the ICC for 2022 and 2023. Clients also benefit from the input of the department’s experienced senior associates Fabianna Morselli and Marco Antônio Fonseca.

Brazil > Compliance Tier 2

Demarest Advogados provides an ‘exceptional service‘ in the field of compliance, where it has successfully carved out a strong reputation. Under the leadership of Eloy Rizzo, ‘a person who knows how to deal with complex situations‘ and who is highlighted for his ‘rich experience‘, the team is a popular choice for clients across the healthcare, natural resources, power and technology sectors, among others. The firm’s strength in large-scale M&A means it is often called upon to assist in integrity due diligence processes, but the team particularly stands out for its active internal investigations practice, where it acts for clients in sensitive matters involving allegations of misconduct. Also of note is Rizzo’s work in independent monitorships in Brazil. Senior associate André Luis Leme regularly takes a key coordinating role on compliance due diligence and investigations and also comes with client recommendation. Associate Victoria Arcos is another key contact; she has experience in internal investigations into fraud and corruption, including cases with cross-border aspects.

Brazil > Dispute Resolution: Arbitration Tier 2

Demarest Advogados houses a premier arbitration practice specialising in investment treaty arbitration, with extensive experience of handling claims for clients across a wide range of sectors, including pharmaceutical, automobile, steel and commodities, power, and infrastructure in general. Corporate disputes and arbitration arising from capital markets, M&A transactions and shareholder agreements also feature in the firm’s impressive portfolio. Covering both domestic and international arbitration, the team is noted for its strength in construction and contractual disputes, while showcasing niche expertise in sports and entertainment cases. Celso Xavier is a name to note for contractual disputes, Marcelo Inglez de Souza focuses on IP-related matters, and Rafael Gagliardi handles arbitration involving regulated industries. They jointly lead the practice, which also includes Carlo Verona, whose areas of expertise include international arbitration, and Camila Biral, who in turn is regularly instructed in complex arbitration proceedings involving corporate and contractual issues.

Brazil > Dispute Resolution: Litigation Tier 2

Demarest Advogados brings together the expertise of litigation, mediation and arbitration specialists who are seasoned in the entire spectrum of corporate and civil disputes. The team, which ‘combines tradition and innovation to provide quality legal services‘, is a go-to choice for several domestic and international clients from a variety of sectors, including pharmaceuticals, commodities, energy, infrastructure and financial services, engaged in complex litigation before judicial and administrative courts. Offering great national coverage, the group is well placed to assist clients in matters throughout Brazil and cases involving other jurisdictions. Celso Xavier ‘is an exceptional conductor of hearings in judicial and arbitration proceedings‘; he has substantial experience in contractual disputes and tort, securities and cartel litigation. Praised for his skills in ‘solving the most complex problems‘, Marcelo Inglez de Souza stands out in the field of IP contentious matters. Litigation concerning regulated sectors, including energy and infrastructure, are key strengths for Rafael Gagliardi. Cesar Rossi Machado, Amanda Sampaio, Daniel Kaufman and Fernanda Leão were recently welcomed to the partnership.

Brazil > Environment Tier 2

At Demarest Advogados, the environmental team ‘stands out for its technical quality and knowledge', and ability to navigate complex environmental and administrative litigation on behalf of major companies and other entities in the mining, forestry, agribusiness, infrastructure and chemical sectors. The practice - which regularly collaborates with other firm-wide departments, including M&A, real estate, criminal law and capital markets - handles a varied workload featuring environmental disputes, due diligence in the context of projects and transactions, sustainable investments and other innovative environmental mandates, ranging from climate change to conservation issues, biodiversity, carbon credits and air emissions. Luiz Sant’Anna, who has ‘exceptional experience in the environmental area and in civil proceedings', jointly leads the practice with recently promoted partner Fernanda Vianna Stefanelo, whose areas of expertise cover ESG, environmental licensing, solid waste and contaminated areas. Lucas Fonseca Marinho, who joined from Sion Advogados in December 2021, is a name to note at the associate level, especially for matters involving the intersection of environmental and mining law.

Brazil > Labour and employment Tier 2

The experienced labour team at Demarest Advogados is ‘very agile and has a remarkable sense of urgency’. The ‘accessible, organised, objective and highly capable’ practice represents clients from a wide range of sectors on contentious and advisory issues. Key areas of expertise include collective bargaining agreements, mass redundancies, labour investigations, and various types of labour disputes, such as class actions and proceedings brought by the Labour Public Prosecutor’s Office. The team is jointly led by the ‘very competent, experienced, professional’ Cássia Fernanda Pizzotti and Renato Canizares, ‘a very experienced and accomplished lawyer, who is very good at presenting complex facts’. Maurício Levy and the recently promoted Eduardo Alcantara are key labour litigation partners. Stella Castro joined the team in July 2022.

Brazil > Public law Tier 2

Under the leadership of Bruno Aurélio, Demarest Advogados is a one-stop shop for advice on the development of PPP projects, public procurement, administrative contracts and concessions. With ‘deep knowledge of legislation and public tenders’, the team is well placed to handle the public law issues impacting an array of industries, including transport, sanitation and waste management. Public procurement is a particular strength for the department, but the team is also seasoned in disputes involving the public administration at the judicial and administrative levels, such as class actions, administrative improbity and the economic rebalancing of public contracts. Department head Aurélio is recommended for his ‘ability to articulate effective strategies from the point of view of administrative law’; PPPs, bidding processes and administrative proceedings are among his areas of expertise. Tomás Schoeller Paiva, who joined from Mundie e Advogados in January 2022, is noted for his in-depth knowledge of telecoms regulations and infrastructure, while Renan Sona Silva, who will be welcomed to the partnership in January 2023, is seen with great regularity advising on the structuring of concession projects and PPPs.

Brazil > Real estate Tier 2

Demarest Advogados has an ‘efficient and agile‘ real estate team, which is ‘capable of dealing with two, three, four very different subjects in the same meeting, showing broad knowledge‘. Clients appreciate that the lawyers ‘always seek to understand the business and the pain of the client‘ while also seeking ‘to present practical solutions to what is needed‘. This covers a range of disciplines, including complex transactional, regulatory and environmental issues in high-profile urban and rural real estate investment and development projects. The team is jointly led by Lucas Tavares Bueno, Thiago Giantomassi and the ‘excellent‘ Marc Stalder, who is ‘extremely accessible, speaks a clear and objective language, devoid of legalese and a great expert in real estate law’. For contentious matters, clients also rate Rafael Gagliardi‘s ‘unparalleled ability to suggest and create solutions‘.

Brazil > Restructuring and insolvency Tier 2

Demarest Advogados has a well-regarded multidisciplinary team of ‘extremely qualified professionals'. The practice handles a broad range of related issues, including litigation, distressed M&A, tax and debt restructurings. The department has a good track record in handling some of the country’s largest restructurings, including cross-border cases involving Chapter 11 and 15 filings in the US. Its clients include major debtors and creditors, with recent highlights for the firm including its key role representing LATAM Airlines in its high-profile Chapter 11 and DIP financing. The highly rated team is jointly led by insolvency litigator Guilherme Fontes Bechara and Celso Xavier.

Tax > Tax advisory Tier 2

Demarest Advogados has an ‘exceptional‘ team, which is praised for its ability to ‘analyse tax matters from several different perspectives and with a very practical approach‘. The firm expanded its contentious offering with the 2021 hire of former judge Gisele Barra Bossa, who adds significant experience on the administrative litigation side. For judicial litigation, Priscila Faricelli is praised for her ‘special expertise in the superior courts for defining procedural strategies‘. Carlos Eduardo Orsolon (noted for his ‘unique ability to translate complex tax themes into clear and objective advice‘), Christiano Chagas and Roberto Casarini (who has ‘deep knowledge of the tax effects in M&A and IRPJ operations‘) are focused on direct tax, and practice head Douglas Mota and the ‘always fast and responsive‘ Thiago Amaral are active in indirect tax. The ‘outstanding‘ Victor Lopes is the main customs contact, while Marcello Pedroso handles payroll tax issues.

Energy and natural resources > Electricity (and renewable energy)

The well-rounded energy team at Demarest Advogados is best known for its involvement in high-value litigation and regulatory matters involving government bodies and agencies. The recent arrival of co-head Rosi Costa Barros, who has more than two decades’ experience in the power sector, and a team of five associates strengthened the firm’s services catered to electricity companies engaged in public consultations, proceedings before ANEEL, regulatory contracts and self-generation projects. In addition, the practice is also adept at assisting with M&A and project development in the generation, distribution and transmission segments. Rafael Gagliardi is the main point of contact for advice on power regulation, administrative proceedings and judicial litigation in this space.

Energy and natural resources > Mining Tier 3

Created in 2015, the mining department at Demarest Advogados has been advising major players in the industry in complex mandates, including transactional and regulatory issues. Drawing on the firm’s offering across corporate, tax, capital markets, projects, public law and environment, the team is prepared to handle M&A, joint ventures and project finance matters. On the regulatory front, it has been especially active representing clients in administrative proceedings related to infraction notices and forfeiture procedures before the National Mining Agency. Practice leader Thiago Maia has a strong background in M&A, private equity and other corporate transactions involving mining assets. M&A and corporate governance lawyer Paulo Coelho da Rocha is another name to note for Brazilian and international mining companies. Since publication, Izabella Reis was promoted to partner, effective as of January 2023.

Brazil > Intellectual property Tier 3

Demarest Advogados‘ IP offering is spearheaded by Tatiana Campello   and is praised for its ‘highly effective and clear communication and collaboration’ with clients. Strong in IP transactions, agreements, portfolio structuring, due diligence and litigation, the team covers the full spectrum of IP, with considerable expertise in trade mark and patent matters. Campello is well regarded for her expertise in innovation, technology and data privacy, and is trusted by both domestic high-profile clients and global companies. Camila Garcindo Dayrell Garrote  is also of note within the team, advising on matters in the entertainment, sports and consumer product sectors. Betina Ferreira is another key contact. Julia Davet Pazos left the firm in May 2022.

Brazil > Life sciences Tier 3

Demarest Advogados‘ life sciences department balances a broad workload, regularly providing advice to clients in the biotech, medicine, healthcare, cosmetics, animal health, nutrition and e-cigarette industries. Claudio Mattos and Camila Biral both leverage strong biotech and pharmaceutical expertise, and are key contacts for some of the firm’s big-name clients. Ana Paula Pinheiro Schedel is a go-to lawyer in the team for commercial contracts, and Bruno Aurélio is known for his expertise and advice to companies in heavily regulated sectors, including pharmaceuticals, healthcare and tobacco. For IP-related life sciences matters, Rio de Janeiro-based partner Tatiana Campello is a name to note.

Brazil > Projects and infrastructure Tier 3

The projects team at Demarest Advogados brings together practitioners specialised in M&A, public law, finance and capital markets, who are seasoned in issues linked to the development of projects, financing and refinancing structures, and concessions. The team, which is praised for its ‘extensive legal and strategic knowledge’ of the infrastructure sector, is particularly sought after by clients looking for guidance in bid processes, concession agreements and PPPs. Its recent highlights include significant matters involving transportation and public lighting. Leading the practice is Bruno Aurélio, whose areas of expertise include public contracts, public procurement and project development. Thiago Giantomassi takes the lead on matters concerning the issuance of debt and securitised products to fund projects, while Renan Sona Silva, who will be welcomed to the partnership in January 2023, assists clients with the development of new infrastructure projects, competitive bids and litigation.

Tax > Tax litigation Tier 3

Brazil > TMT: Cybersecurity and data privacy Tier 3

Demarest Advogados’ multidisciplinary data protection, cybersecurity and technology-oriented practice advises domestic and multinational clients within and outside the technology sector on all aspects of privacy, security incident risk management and AI. The team is led by intangibles, technology, internet law and IP expert Tatiana Campello, alongside Eduardo Magrani, who focuses on data protection and AI. The team’s recent instructions include assisting clients to achieve LGDP compliance, and advising on data privacy matters related to M&A. Since research concluded, Magrani has left to become a consultant at CCA Law Firm in Lisbon, Portugal.

Brazil > Transport: Aviation Tier 3

Demarest Advogados has an experienced multidisciplinary team, which is particularly strong on the corporate finance side, as demonstrated by its role advising LATAM Airlines on its Chapter 11 process and subsequent DIP financing. It also has significant expertise in infrastructure projects and airport concessions, as well as related M&A, antitrust, insurance, environmental and tax law. Versatile practice head Gabriel Ricardo Kuznietz is a ‘technically excellent professional' with good credentials in corporate and regulatory matters. Former partner Luciana Goulart Penteado left in 2021.

Brazil > White-collar crime and investigations Tier 3

The well-established practice at Demarest Advogados is praised for its ‘excellent performance in the criminal area’. The department is equally adept in environmental and financial crime cases, and also stands out for its ability to act on insider-trading matters. Additionally, the firm is well equipped to assist clients with investigations into bid rigging and cartel formation, where it can combine its strong capabilities in white-collar criminal defence and antitrust law. ‘Brilliant in her work, admirable as a person’, practice head Fabyola En Rodrigues can draw on over 20 years’ experience representing executives and companies in domestic and cross-border investigations. Larissa Borges Guimarães , Thais Karine Almeida Tereciano and Aline de Oliveira Silva are all names to note at the associate level.

Energy and natural resources > Hydrocarbons Tier 4

Demarest Advogados offers advice to upstream, midstream and downstream clients in the gamut of mandates in these fields, notably high-value transactions and complex regulatory issues. The ‘highly qualified, responsive and business oriented’ group was strengthened by the arrival of David Meiler, Bárbara Bittencourt and a team of associates from Campos Mello Advogados in cooperation with DLA Piper in October 2021. Bittencourt specialises in regulatory, bidding and transactional matters, including purchases, sales, farm-ins and farm-outs of oil and gas assets, while Meiler has longstanding experience acting for oil companies and service providers operating or seeking to enter the Brazilian market. João Luis Almeida, whose areas of expertise cover corporate deals, financing transactions and regulatory issues, co-heads the department, which is also skilled at assisting clients in the development of onshore and offshore projects. Recent areas of activity for the department include deals involving the recent opening of the Brazilian gas market, Petrobras’s divestment programme and bidding rounds promoted by ANP.

Brazil > TMT: Telecoms

Brazil > TMT: Tech, innovation and digital business