Arias > Panama, Panama > Firm Profile

The Towers, Piso 3

Panama > Labour Tier 2

Arias has a regional presence, making it a strong choice to advise multinational companies, with a diverse client base including high-profile names in the pharmaceutical and media sectors. The team regularly assists with day-to-day labour, immigration and social security matters, as well as joining up with the active corporate department and the firm’s Central American offices to provide support with the labour aspects of multi-jurisdictional M&A. Its recent workload also includes handling sensitive investigations involving fraud and sexual harassment allegations. ‘Very responsive‘ Panama managing partner Siaska SSS Lorenzo heads the practice, bringing extensive regulatory and compliance expertise to the table.

Practice head(s):

Siaska SSS Lorenzo


Siaska is very responsive and provides sound legal advice in a friendly and sensible manner. She understands our business needs and properly assesses the risks.

Key clients

Johnson & Johnson


Miguélez Cables


Nielsen IQ

Master Builders Solutions (MBS)

Honeywell Aerospace


Baker McKenzie


Work highlights

  • Advising Honeywell Aerospace on sensitive labour and employment matters in Panama.
  • Assisted Spectrum Brands with the labour aspects of the plan to carve out its Home and Personal Care (HPC) segment.
  • Advising Master Builders Solutions on sensitive labour and employment matters in Panama.

Panama > Banking and finance Tier 3

The Panamanian branch of leading regional firm Arias is highlighted by clients for its ‘strategic approach and ability to find innovative solutions‘, frequently joining up with the firm’s network of offices to advise on Central America-wide transactions. It also enjoys close connections with international firms in the US and UK. The team can regularly be found acting for lenders, with significant experience in advising international financial institutions, multilateral development agencies and syndicates of banks on cross-border loans to Panamanian entities. Practice head María Cristina Fábrega, who garners high praise for her ‘extensive experience and in-depth knowledge of the law‘ as well as her ‘personalised and client-oriented approach‘, is well versed in multi-jurisdictional banking and securities transactions.

Practice head(s):

Maria Cristina Fábrega


The lawyers in this practice are noted for their experience, specialised knowledge, strategic focus, conflict resolution skills, and commitment to excellence. These attributes position them favourably in comparison to the teams of other firms, ensuring high-quality legal services and successful results for their clients.

One of the team’s strengths is their strategic approach and ability to find innovative solutions to the legal challenges clients face. They are committed to fully understanding the needs and objectives of their clients, which allows them to provide personalised advice adapted to each particular situation.

María Cristina Fábrega has extensive experience and in-depth knowledge of the law in her area of expertise, which enables her to offer solid, high-quality advice to her clients. She has a strong focus on understanding the needs and goals of her clients, and she works closely with them to develop personalised legal strategies tailored to their specific circumstances. This personalised and client-oriented approach means she is able to provide high-quality legal services and meet the expectations of her clients.

Key clients



EMF Microfinance Fund

Blue Orchard

1st Source Bank

Banco Agrícola

United States International Development Finance Corporation (DFC)

Huruma Fund

Leader Global Solutions

Banco Santander

Work highlights

  • Advised Banco Atlántida El Salvador on a $3.5m loan granted to GMG Holding.

Panama > Corporate and M&A Tier 4

Arias‘ ‘responsive and knowledgeable‘ team leverages the firm’s regional structure to advise an array of multinationals on cross-border M&A, routinely working with its counterparts across Central America (as well as prominent international law firms) to assist with the acquisition of Panamanian target companies. The firm also has an active practice dedicated to company incorporations and day-to-day corporate advice, as well as more complex matters such as company restructurings, spin-offs and re-domiciliations. María Cristina Fábrega, who is singled out as a ‘great partner‘, takes the lead on M&A, while ‘outstanding lawyersYuri Moreno and associate Denise Littman advise on corporate matters.

Practice head(s):

Maria Cristina Fábrega; Yuri Moreno


Arias did a great job. Very reliable and we felt well advised by the firm.

Responsive and knowledgeable. Maria Cristina Fábrega was a great partner on the project.

Arias has worked with our company for many years, which means that its knowledge of the business is extensive. The team’s involvement in matters is very smooth and it is always able to resolve any issue raised punctually and assertively. It seems to me that what makes Arias different is the team’s ability to get involved and make the clients’ problems its own.

‘Arias’ lawyers work with us as if they were internal lawyers for our company, which makes it easier and faster for them to attend to any matter raised. They are always available to answer calls or emails and their understanding of the issues is comprehensive – they do not only see one aspect of the matter; they always see it from all possible angles to avoid any future risks. I would like to highlight Denise Littman and Yuri Moreno as outstanding lawyers.

Key clients

Imagination Unwired Serviços Digitais




General Electric


TBI Outsourcing




Work highlights

  • Acted as local counsel to SK Capital Partners on its acquisition of Apotex Pharmaceutical Holdings.
  • Assisted Otto Jan Oosterwijk and Obso with the acquisition of Panamanian entity Batik, the owner of boutique hotel Seagull Cove Resort.

Central America > Corporate and finance

Formed following the split of pioneering Central American firm Arias & Munoz, Arias has a well-established network of seven offices in the region, spread across Guatemala, El Salvador, Honduras (where it has branches in both Tegucigalpa and San Pedro Sula), Nicaragua, Costa Rica and Panama. The firm has a long history of handling high-profile local and international M&A and financial transactions, acting for an impressive roster of multinationals, global financial institutions and leading regional banks. Diego Gallegos, who has expertise in asset and project finance, and Vicente Lines, an expert in the infrastructure and telecoms spaces, lead the finance practice in Costa Rica and are also key figures in the corporate team, where energy specialist Melania Dittel is also noted. In El Salvador, Mario Lozano is sought after for his advice on fintech and cryptocurrency issues, while Lilian Arias, the M&A-focused Roberta Gallardo and Luisa Rivas are among the key contacts for corporate matters. In Guatemala, Luis Pedro del Valle, who has a strong track record in cross-border M&A, took over leadership of the corporate and finance practices in April 2023. The highly experienced Evangelina Lardizábal steers the corporate and finance teams in Honduras alongside Mario Agüero, while in Nicaragua Ana Teresa Rizo, a go-to partner for foreign investments, Bertha Argüello, Gustavo-Adolfo Vargas and Rodrigo Ibarra, a specialist in the energy sector, are the names to note. María Cristina Fábrega takes the lead on M&A and financial transactions in Panama.

Work highlights

Our firm: Arias is the leading global business law firm in Central America and the firm of choice in the region. The firm stands out for providing innovative and effective solutions that help clients achieve their business goals, while enjoying the benefits of working with an integrated firm, with presence in six countries through seven offices, 41 partners,  and 130 highly trained and experienced attorneys with offices in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Panama.

Since 1942, Arias has been setting the standards in the region by combining its global reach with local expertise, and providing a visionary outlook on the world’s business environment.

Our team: Among our staff, we have attorneys with many years of experience in several practice areas combined with young lawyers. This means our firm is constantly innovating and adapting to the needs of today’s world, which ensures we are able to offer our clients the best legal talent in the region.

Areas of practice: Arias is a full-service firm, providing advice in over 35 practice areas, with renowned specialists in each jurisdiction. Some of the firm’s main practice areas include: corporate, antitrust, mergers and acquisitions, tax, arbitration and litigation, compliance, banking and finance, intellectual property, labor law, energy, oil and gas, real estate, immigration, and general counsel services, among others.

Our focus: We make things happen. We provide creative and innovative legal solutions that add value to our clients, taking the time to know and understand their business goals, while always focused on providing reliable and accurate legal services, with their best interests in mind.

International reach: The firm advises on local and cross-border transactions, assisting some of the major international corporations doing business in the region, and also providing legal support to local clients going abroad.

Recognitions and awards: Consistently, we have been honored with important recognitions and awards such as “Firm of the Year in Central America”, “Firm of the year” in the countries we operate, “Client Service Award”, “Best Regional Firm for Women in Business  Law”, “Deal of the Year”, among other relevant regional and local awards for the firm and our members.

Equal opportunities: We promote diversity within the firm, professional growth is based on each individual’s merit regardless of the gender or ethnics.

  • 47% of our partners are women
  • 48% of our associates are women
  • 57% of our management positions are held by women
  • 100% of our managing partners are women

2,000 Pro-bono hours per year: Corporate social responsibility and Pro-bono work have always been an important part of our DNA. We believe that it is everyone’s responsibility to inspire and generate positive changes in our environment in order to achieve and ensure a better future for the next generations.

Languages spoken: Spanish, English, French, German, and Portuguese

Department Name Email Telephone
Managing Partner, Head of Labour Siaska SSS Lorenzo +(507) 2821400
Partner, Head of Corporate and Commercial, Intellectual Property, and Dispute Resolution Yuri Moreno +(507) 2821400
Partner, Head of M&A and Banking and Financie Maria Cristina Fábrega +(507) 2821400
Partners : 3
Associates : 7
World Law Group
IBA (International Bar Association)
Central American Partners : 41