Firm Profile > Ferrere > Asuncion, Paraguay


Banking and finance Tier 1

The team at FERRERE provides 'concise, practical and appropriate' advice in the banking and finance space to an international and domestic client base of multilateral organisations and financial institutions. Typical instructions for the firm include advising on complex loans and credit facilities and capital market transactions involving Paraguayan corporations. Carlos Codas heads the practice, with strong support from key partners Néstor Loizaga and Verónica Franco. In a recent highlight, Franco and associate Claudia Arietti assisted BBVA Securities, BNP Paribas Securities, Citigroup Global Markets and Itau BBA USA Securities on the issuance by Telefónica Celular del Paraguay of $300m senior notes. The banking and finance team was further strengthened in 2020 by the addition of partner Carlos Vasconsellos, who joined the team from the firm's corporate and M&A department.

Practice head(s):


Responsive; concise, practical and appropriate advice.

They know our bank and the regulations very well. It is one of the most professional firms we work with.

They have experience in the field, are available at any time of day, provide immediate responses and are fluent in English. We mostly work with Nestor Loizaga and Veronica Franco.

Key clients

Corporación Andina de Fomento (CAF)

Inter-American Development Bank (IDB)

Inter-American Investment Corporation (IDB Invest)

Women´s World Banking

DEG – Deutsche Investitions und Entwicklungsgesellschaft

Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden (FMO)

JP Morgan

Instituto de Prevision Social (IPS)

International Finance Corporation (IFC)


Banco Continental

Corporate and M&A Tier 1

Advising a predominantly international client base on M&A deals and the full range of corporate matters, FERRERE has established itself as a go-to firm in the field of corporate and M&A in Paraguay. Néstor Loizaga heads the department and recently led on some of Paraguay's key M&A deals. Other highlights included partner Carlos Vasconsellos and senior associate Claudia Arietti advising FMO on their acquisition of additional equity of Sudameris Bank. The promotion of Eduardo Ammatuna to partner in January 2020 has further strengthened the team; he brings considerable experience from the logistics sector and is increasing his corporate caseload in his new role. Verónica Franco is another key member of the team.

Practice head(s):


Ferrere stands out for its speed of response. The team is very efficient and provide a recommendable service. The firm met our expectations and suggests options and solutions that have been very useful internally.

I consider it to be an always available team, agile in the provision of its services and flexible to the needs of the company.

They are available, they care about the customer, they know the market and the sector, and they work quickly and efficiently.

The performance of Claudia Arietti stands out, as well as the work of partners Nestór Loizaga and Carlos Vasconsellos.

Excellent attention, very good level of service from Nestór Loizaga and Eduardo Ammatuna. I have no recent experience in Paraguay with other law firms, but I am confident in Ferrere’s advice.

Verónica Franco is the person I would recommend. She is very experienced, always available for consultation and has a quick turn around of documents / consultations.

Key clients




Syngenta Crop Protection



Abbot Laboratories


Amazon AWS


Labour and employment Tier 1

The 'robust team of lawyers' at FERRERE is led by the highly experienced labour law specialist Marysol Estigarribia. With the support of closely integrated teams across related practice areas, the firm advises a domestic and international client base that covers a breadth of industries, from pharmaceuticals to banking to healthcare. Particularly strong in contentious matters, the firm solely advises on the employer side. Recent work includes its advice to Vale on the possibility of implementing home-office models for its workers. Senior associate Antonella Llamas is also recommended, and takes a key role on the department's cases.

Practice head(s):


It is a robust team of lawyers, this allows someone to always be available to serve clients. They are very proactive and have good handling of labor issues. Their recommendations are always correct and strategic.

Fast response, soundness in advice.

Strict professionalism. Ability to respond quickly and focused on customer needs.

Marysol Estigarribia – Dynamism, soundness, speed.

Eduardo Ammatuna – Soundness, speed and confidence.

The best qualities they have are the timely response in all requirements, both legal and administrative matters. Most of the time, the business is attended directly by the partner but has a very good team that supports it. Highlight the work of Marysol Estigarribia, Antonella Llamas and José Trininidad.

Key clients

Tigo (Millicom)

Claro (América Móvil)


Interbarge (SEACOR)


Ball Corporation

Air Liquide




Dispute resolution Tier 2

FERRERE's 'team of extraordinary lawyers, with excellent expertise' focuses on complex commercial litigation and is instructed by a client base that is expanding year on year and includes local and multinational clients, including household name companies. The practice is led by highly recommended practitioners Néstor Loizaga and 'excellent litigatorMiguel Saguier. Loizaga's expertise is in distribution law, while Saguier excels in civil and administrative disputes. Labour law specialist Marysol Estigarribia also supports the team in complex labour litigation.


Ferrere has an excellent team. They provide comprehensive advice with a legal foundation. Their availability to the client is exceptional. Personally, I don’t think Ferrere can be compared to other firms: it has a unique relationship with its clients and offers various solutions after considering the facts of the case.

What stands out is the team’s connection with the client; the rapid and effective service; and their respectful and friendly attitude. Their opinions are presented with legal arguments. They provide thorough and comprehensive advice. Miguel Saguier is excellent, as is Santiago González.

Ferrere has team of extraordinary lawyers, with excellent expertise. It is a full-service firm with the ability to advise on diverse areas of law.

What characterises Ferrere’s Paraguay office is the availability of the lawyers and the speed of their responses. In addition, the team has excellent expertise. In the disputes practice, the service is comprehensive, which is very valuable to us.’

‘In the disputes team, Miguel Saguier particularly stands out. I also cannot fail to mention Néstor Loizaga, who has provided excellent support to us in a variety of matters.

Managing partner Néstor Loizaga is up to date with everything going on in the case; he gets involved with the team and the client. The lawyers in his firm are first class.

We have worked quite a lot with Miguel Saguier. Miguel is an excellent litigator and lawyer with deep academic knowledge. He treats everyone well. He can capitalise on his experience with the court when advising clients.

Key clients

AkzoNobel Argentina




Arysta LifeScience



Petrobras Paraguay


Banco Nacional de Fomento

Tax Tier 2

Representing top international clients including Uber, Imperial Shipping and Wells Fargo, FERRERE's tax law department is 'highly qualified' and 'responds efficiently and rapidly to urgent matters'. The practice is jointly headed by Néstor Loizaga, who advises on tax matters related to investment regimes, M&A, litigation and corporate structures, and Erika Bañuelos, a tax specialist who advises clients on issues related to customs law and administrative procedures. The firm is renowned for its commercial approach assisting foreign companies on their tax matters in Paraguay. Recent work highlights include advising DSM on the fiscal impact of the manufacturing and commercialisation of its products in Paraguay. Eduardo Ammatuna is also recommended.


The lawyers at Ferrere are highly qualified. As a team, they respond efficiently and rapidly to urgent matters and provide general advice. They work responsibly and efficiently.

I recommend the whole of the Ferrere team in Paraguay, but especially Eduardo Ammatuna, who assists our company promptly with any issue.

Key clients

Imperial Shipping


Megeve Investments

Petro Rio

Assist Card


Castleton Commodities

Wells Fargo



Intellectual property Tier 3

The 'very responsive and reliable' intellectual property department at FERRERE is led by partner Néstor Loizaga, who adds his corporate and commercial expertise, and highly praised senior associate Montserrat Puente, an 'exemplary lawyer' with particular expertise in license agreements. The team excels in contentious matters for regional and international clients; recent highlights including representing agrochemicals company UPL in a complex trade mark dispute against Agrosystem SRL. Senior associate Miguel Saguier is another notable contact for contentious matters.


They are always very attentive, explaining the situation with great detail, and meeting urgent deadlines. We needed their assistance sometimes with patent filings that were due on the same day in which we received the instructions from our clients, and these matters were promptly and deftly handled.

We have worked with Ms. Montserrat Puente; she is extremely helpful, quick in her responses, explaining to us the local procedures and how to solve some problems.

The team is very responsive and reliable.

Montserrat Puente is an exemplary lawyer. She knows the area of intellectual property and provides the best advice.

Key clients


Loveland Products




Kilpatrick & Townsend

Arent Fox

Glenmark Pharmaceuticals

Lapostolle Wines

Telus Corporation

Ferrere has established itself as a leading law firm in Paraguay, following more than a decade of steady growth and participation in some of the largest deals in the market and advising a portfolio of clients consisting of 70% of international enterprises including 17 of the biggest companies in Latin America according to America Economia. Ferrere counts with a local team of more than 40 professionals with unparalleled experience in all branches of law. The firm fosters specialization, but also promotes wide-reaching training of its professionals, so that they can better understand the needs and businesses of its clients.

Ferrere is the only multi-jurisdictional, purely South American law firm. It has +200 attorneys throughout Bolivia, Ecuador, Paraguay and Uruguay and stands out for its US-style structure, methodologies and policies. The firm has developed international standards and homogeneous services, guaranteed by integrated, vertical practice groups and procedures, and a firm-wide training programme.

FERRERE is exceptional in the four jurisdictions in which it operates. It is a fully merit based organisation and has a mandatory early retirement policy and a strong focus on promoting diversity, with women making up 30% of the partnership. Many of FERRERE’s lawyers have US or European degrees and have worked for global law firms, financial institutions or at the headquarters of major multinationals. Regional and international companies, as well as global law firms, take advantage of the firm’s footprint to achieve full coverage of the region.

The firm has invested decades of hard work building practice groups dedicated to the areas of both law and industry. The firm’s industry specialization is a differentiating feature that, along with cutting-edge technology, allows it to provide clients outstanding quality legal advice with a high level of cost efficiency. FERRERE’s regional structure and depth of resources also enable it to handle the most complex cross-border and multi-jurisdictional transactions.

The firm regularly deploys members of its highly specialised talent pool to any jurisdiction where they may be required, at any time.


The firm advises mainly multinationals, including five of the top 25 Fortune 500 companies, global financial institutions and some of the largest Latin American companies. Many large global law firms also use Ferrere to complete their coverage of the region, given its multijurisdictional presence.

Main areas of practice

Banking and finance: FERRERE has outstanding work relationships with commercial banks and major multilateral lending organizations operating across the region.

M&A: FERRERE is consistently involved in almost all the market’s biggest and most sophisticated transactions and high-value projects.

Corporate: FERRERE has an outstanding team who is able to handle the biggest, most complex cross-border deals, as well as multi-jurisdictional transactions in the countries it operates in.

Dispute resolution: a significant part of the firm’s dispute resolution work involves the representation of clients who are not corporate clients, but who resort to FERRERE for their most complex commercial, investment, administrative or tax disputes.

Tax: FERRERE’s tax practice group advises clients on all tax matters and participates in business structuring, from corporate mergers or acquisitions through obtaining tax benefits for investment projects.

Employment: FERRERE is equally strong in the entire range of contentious and non-contentious labor and employment matters and focuses on providing high-quality advice on large, complex and highly strategic matters.

Intellectual property: FERRERE represents individuals and companies in developing and protecting their products, in drafting their assignment or license agreements, and in litigation focusing on violation of trademarks, patents, copyrights or unfair competition.

Energy and natural resources: FERRERE represents gas and liquid fuel as well as renewable energy companies. It advises the industry’s principal companies on day-to-day legal affairs, partner relationships, and governmental and regulatory matters.

Anti-corruption/compliance/internal investigations: FERRERE has unmatched experience in risk management and compliance. The firm’s multi-jurisdiction coverage and its practitioners’ international experience assure clients the meticulous and multifaceted approach required by today’s interconnected regulatory environment.

Other fee earners: 250
Managing partner: Néstor Loizaga

Torres del Paseo, Torre I – Nivel 25, Avda. Santa Teresa N° 2106
T: +595 21 318 3000
F: +595 21 318 3113

Department Name Email Telephone
Managing Partner Néstor Loizaga
Photo Name Position Profile
Mr Eduardo Ammatuna photo Mr Eduardo Ammatuna Partner
Mrs Claudia Arietti  photo Mrs Claudia Arietti Senior Associate
 Erika Bañuelos  photo Erika Bañuelos Senior Associate
Mr Dario Capurro  photo Mr Dario Capurro Senior Associate
Mr Carlos Codas photo Mr Carlos Codas Partner.
Mrs Marysol Estigarribia  photo Mrs Marysol Estigarribia Partner
 Verónica Franco  photo Verónica Franco Partner.
Mrs Antonella Llamas photo Mrs Antonella Llamas Senior Associate
 Néstor Loizaga  photo Néstor Loizaga Partner
Mrs Montserrat Puente photo Mrs Montserrat Puente Senior Associate
Mr Miguel Saguier photo Mr Miguel Saguier Senior Associate
Mr Carlos Vasconsellos  photo Mr Carlos Vasconsellos Partner.
Other fee-earners : 223
Partners : 27