Mrs María Cristina Fábrega > Arias > Panama, Panama > Lawyer Profile

The Towers, Piso 3

Work Department




  • Maria Cristina joined the firm in 2016 and leads the Finance and Transactional department of the Panamanian office since 2019, areas in which she has grown by assisting national and international companies. She has participated in a significant quantity of complex transactions that have involved multi-jurisdictional and multidisciplinary teams such as financing projects of high levels of complexity; Due diligence processes, structuring and execution of mergers, acquisitions, examining corporate and contractual aspects; international bond issuance, among others. Maria Cristina has wide range cross-border experience with local components from Panamanian Law.

    She has also provided legal advice to companies related to International Reinsurance, stock market, banks, financial entities and Private Investment Funds; supporting them with consultations regarding the application of Panamanian legislation.

    She has provided pro bono legal advice to the World Bank Group in connection with Panamanian legislation in the project “Doing Business”.




International Bar Association (IBA)


  • International Business Law, LLM. San Pablo CEU, Madrid, Spain.

  • Specialization in International Law. Universidad Latina, Panamá.

  • Degree in Law and Political Science. Universidad Santa Maria la Antigua, Panama.

  • Fordham University – Structural Issues in Law Firm Management, 2022.

Lawyer Rankings

Panama > Banking and finance

(Next Generation Partners)

María Cristina Fábrega – Arias

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.

Panama > Corporate and M&A

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.

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.