Bustamante Fabara > Quito, Ecuador > Firm Profile

Bustamante Fabara

Ecuador > Banking and finance Tier 1

Fabara & Compañía‘s ‘commercially oriented‘ team is particularly active in the field of sovereign debt, advising an array of foreign institutions in relation to bond issuances and other transactions involving the Ecuadorian state, with recent work in this field including advice to Goldman Sachs, as the arranger, on the first sovereign social bond issued by Ecuador to finance a programme of mortgage loans. The ‘responsive and knowledgeable‘ Diego Ramírez Mesec heads the team and is highly recommended for international work, frequently acting as local counsel for large foreign firms such as Clifford Chance, Linklaters and Allen & Overy, among others. At the associate level, Diego Pino Roditti is the key name to note for tax matters within the financial industry, while James Keeble López specialises in financial regulatory matters and proceedings. Since publication, the firm has announced a tie-up with fellow local heavyweight, Bustamante & Bustamante, becoming Bustamante Fabara as of November 2021.Bustamante & Bustamante is highly active in cross-border financings, with a client list that includes a range of multinational banks as well as borrowers. Recent work has included the restructuring of loans in the infrastructure sector, and local counsel roles on loan deals for multinationals with a presence in Ecuador. Francisco Bustamante and José Rafael Bustamante Crespo head the team, with the former being particularly noted for his work with lenders to the Ecuadorian state such as the European Investment Bank. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.

Practice head(s):

Diego Ramírez Mesec


‘The team is very commercially oriented and has excellent problem-solving skills.’

‘Diego Ramirez is very responsive and knowledgeable. He provides insightful local law advice which makes commercial sense as well.’

‘Fabara has an in-depth knowledge both of Ecuadorian law and international standards in documentation. They provide practical and expert advice to their clients to get transactions done consistent with local law requirements.’

‘I have worked with Diego Ramirez many times over the years, and he is a gentleman with great knowledge and experience, who facilitates closing deals.’

Key clients

China Development Bank Corporation

Industrial and Commercial Bank of China Corporation


JP Morgan

Goldman Sachs

Nomura Securities

Credit Suisse


Work highlights

  • Advised Goldman Sachs on the first sovereign social bond issued by Ecuador to finance “Casa para Todos”, a programme of mortgage loans for first-time home buyers.
  • Advised Credit Suisse on non-deliverable FX trading to hedge exposure to currency risk by Banco Pichincha, the largest private bank in Ecuador.
  • Advised Nomura Securities on financial derivatives including bonds to provide finance to Corporación Financiera Nacional, a state-owned development bank in Ecuador.

Practice head(s):

Francisco Bustamante; José Rafael Bustamante Crespo

Key clients


Itaú Corpbanca

European Investment Bank

Banco Pichincha

Banco Santander

Sber Bank

Work highlights

  • Advised Credicop and Scotiabank on a credit agreement worth $80m granted to to Peruvian companies Ransa Comercial, Almacenera del Perú, Depositos and Procesadora Torre Blanca, as well as Ecuadorian companies Logiran and Transporte Pesado Nacional.
  • Represented lender and collateral agent Itaú Corpbanca in a $189m multi-currency credit agreement granted to Hoteles Decameron to refinance its debt.
  • Advised the European Investment Bank on a $70m loan granted to the Ecuadorian government to finance the construction of several technical and technological educational institutes.

Ecuador > Energy and natural resources Tier 1

Bustamante & Bustamante has seen an increase in alternative energy work, with notable recent instructions including advising on compliance and corporate matters for thermal power plant provider Mitsubishi Power Systems, including in relation to its spin off from Hitachi. In addition, the team frequently undertakes work in the oil and gas sector, as well as being a key name in the mining space, with large players such as Newcrest, Anglo American and AKD International instructing the firm on a wide range of matters. Roque Bernardo Bustamante heads the team and acts for some of the firm’s top mining clients, while senior partner Juan Carlos Bustamante focuses on the oil and gas sector. José Rafael Bustamante Crespo is recommended for M&A and joint venture work in the sector, while associate Ximena Cabezas is noted for advising on mining regulations. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.

Practice head(s):

Roque Bernardo Bustamante; Juan Carlos Bustamante

Key clients


Anglo American



Mitsubishi Power



Sandstorm Gold



Work highlights

  • Advised Newcrest on the acquisition of the gold prepay and stream facilities as well as the offtake agreement for $460m with respect to the Furta del Norte Mine from Lundin Gold.
  • Advised GeoPark on its partnership with Frontera, which involved the execution of two production sharing contracts for Blocks Espejo and Perico.
  • Obtained an official sanctioned suspension of activities for Pegasus Project on behalf of Anglo American, in order to recover the time lost as a result of the Covid-19 pandemic and social and community conflicts near the site of the exploration activities.

Ecuador > Intellectual property Tier 1

Bustamante & Bustamante is highly experienced in patent and trade mark work, handling a wide range of prosecution, registration and enforcement matters in this space. However, the firm is particularly notable for its contentious work, acting in unfair competition cases, opposing trade mark registrations and initiating trade mark cancellation proceedings. The team is led by José Rafael Bustamante Espinosa, who is the key contact for contentious matters, and Carmen Robayo, who focuses on trade marks and on regulatory advice. On the patent front, associate Avelina Ponce takes a leading role, while Spanish-qualified associate Matilde Garrigós is another name to note. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.Maria Rosa Fabara Vera heads the IP team at Fabara & Compañía, which focuses primarily on trade marks and patents, as well as on unfair competition matters, an area where it has seen an increasing amount of recent work, often acting alongside the competition law team. Pablo Fabara Vera is the key contact for IP litigation, with recent work including trade mark infringements, design right disputes and trade mark opposition cases. Since publication, the firm has announced a tie-up with fellow local heavyweight, Bustamante & Bustamante, becoming Bustamante Fabara as of November 2021.

Practice head(s):

José Rafael Bustamante Espinosa; Carmen Robayo

Practice head(s):

Maria Rosa Fabara Vera


‘It is the only firm I work with due to its knowledge and prompt, tailored client service.’

‘A warm and personal service.’

‘Fabara offers prompt, efficient and precise advice.’

‘Maria Rosa Fabara stands out for her professionalism, accessibility and excellent client service.’

‘Strong ability to connect local requirements and restrictions with global property needs and rights.’

‘Good partner involvement.’

‘The team is highly qualified and experienced, which guarantees they will provide us with good advice before making decisions. Throughout the time that we have been working together, we have had a satisfactory experience.’

‘In the IP litigation practice, Pablo Fabara stands out for his fast and dynamic approach and great capacity to deal with problems. He has vast experience and intellectual ability, which is beneficial to us.’

Key clients

Boehringer Ingelheim International




GAC Franchise Brands

Grupo Bimbo

Vitality Group International

Heineken Ecuador

Intercontinental Great Brand

Giorgio Armani

Pasta Zara

Bio Minerals

Textiles El Rayo


Humberto Rolando Castillo Calle

Work highlights

  • Advised Blenastor on a nullity action against commercial slogans registered by another party.
  • Represented Boehringer Ingelheim International in an appeal challenging the denial of a patent application.
  • Defended Gloria against the opposition to its registration of the Mr Chips trade mark.

Ecuador > Labour and employment Tier 1

Bustamante & Bustamante provides the full spectrum of labour services, with recent work focusing primarily on mass terminations and other restructurings arising from Covid-19 and the related changes to legislation. Patricia Ponce is a key figure within the team, handling a wide range of restructuring and termination mandates, while José Rafael Bustamante Crespo is recommended for M&A-related labour work. Key names from the associate ranks include Valentina Morillo and Pedro Gomez de la Torre. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.Francisco Vacas Dávila heads the labour team at Fabara & Compañía, focusing his practice on employer-side representation in dismissal cases, with recent work primarily involving force majeure dismissals arising from the Covid-19 pandemic. The firm also provides a range of compliance advice, as well as handling restructuring work and other employment litigation. María Belén San Andrés and Gabriela Díaz Lozano are key figures from the associate ranks, with the former focusing on litigation, while the latter mainly specialises in termination matters. Since publication, the firm has announced a tie-up with fellow local heavyweight, Bustamante & Bustamante, becoming Bustamante Fabara as of November 2021.

Practice head(s):

José Rafael Bustamante Espinosa; Patricia Ponce

Key clients


Herbalife del Ecuador

Epicore Ecuador (ADM)

Customer Services Ecuador

Bupa Ecuador

VVOB Ecuador

Michelin del Ecuador

World Vision International

Fundación Tase


Work highlights

  • Advised Edesa on the settlement of a dispute with its labour union following the implementation of Covid-19 labour measures which had resulted in a strike.
  • Advised Herbalife on a workplace termination and compliance with legislation enacted in the wake of Covid-19 to ensure workplace safety and avoid fines.
  • Defended Epicore Ecuador against a claim by three former employees for dismissal without cause.

Practice head(s):

Francisco Vacas


‘The lawyers we work with have taken the time to understand our business and the specific labour-related issues that we have. Other firms usually act as though all clients are the same.’

‘There is a close link between the main partner and the lawyers in charge of the operational part of the matter. We usually receive immediate answers or in special cases they take a prudent amount of time to solve the issue. Francisco Vacas and Gabriela Diaz stand out.’

Key clients


Juicios por Pandemia

Fundación Malecón 2000

Laboratorios Sumelab

Textiles Ecuador


Banco Pichincha

Pepsi Cola


Corporación Maresa

Work highlights

  • Defended Remeco in an unfair dismissal claim.
  • Handling a number of lawsuits related to the dismissal of employees under force majeure during the Covid-19 pandemic.
  • Advised Sumelab on the dismissal of two executives.

Ecuador > Competition and antitrust Tier 2

Bustamante & Bustamante has ‘excellent experience‘ in competition matters, and is particularly well known for its advice on merger control processes, with a range of high-profile international clients such as AB InBev instructing the firm in complex proceedings. Cartel damages cases are another notable area of practice, alongside other contentious matters such as abuse of dominant position and unfair competition cases. The ‘experienced and knowledgeable‘ José Rafael Bustamante Crespo heads the practice, and is particularly active in merger control proceedings given his significant corporate practice, while Marco Rubio and Kirina González are key figures from the associate ranks. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.Fabara & Compañía‘s ‘highly capable‘ team provides a full service in the field of competition law, with experience in competition authority investigations, merger control proceedings, due diligence and compliance, as well as a range of contentious matters. The team is led by María Rosa Fabara Vera, who has worked in the competition area since its introduction into Ecuadorian law and is highlighted for her ‘extensive knowledge‘; she handles the full spectrum of competition and antitrust matters. Diego Ramírez Mesec is another key figure within the team, particularly for clients in the telecoms industry, while senior associate Daniel Castelo Guerrero is particularly recommended for the representation of clients before the competition authority. Since publication, the firm has announced a tie-up with fellow local heavyweight, Bustamante & Bustamante, becoming Bustamante Fabara as of November 2021.

Practice head(s):

José Rafael Bustamante Espinosa; José Rafael Bustamante Crespo


‘The antitrust team at Bustamante & Bustamante is exceptional. They provide the best solutions to our problems and understand the Ecuadorian market very well.’

‘Jose Rafael Bustamante Crespo has great expertise and provides focused advice on any matter. We are very glad we decided to work with him.’

‘They are experts in competition and antitrust law.’

‘The team have excellent experience. They have great instincts and a great sense of how to manage the Ecuadorian Competition Authority. They are accessible, responsive and commercial.’

‘Jose Rafael Bustamante Crespo is a steady hand. He is experienced, knowledgeable and politically astute when he needs to be. He has fantastic insight into what is likely to happen next and has cultivated strong ties to the staff and leadership at the competition authority.’

‘A young team with the knowledge and energy to defend our interests.’

‘The lawyers have a very commercial and technical focus in antitrust matters. Their analysis goes beyond purely legal issues and they give solid advice.’

‘Jose Rafael Bustamente Crespo is a very well-rounded lawyer who places a strong emphasis on commercial issues. He has strong technical legal knowledge and is available 24/7.’

Key clients


AB InBev

Cervecería Nacional

MHI Power Ecuador


Work highlights

  • Continued to represent MegaCavedi in the first claim for damages against Kimberly Clark for alleged cartel activity in Ecuador.
  • Advised AB InBev on compliance with three of the 11 remedies that were imposed by the Ecuadorian Competition Authority in relation to its global acquisition of SAB Miller.
  • Advised MHI Power Ecuador on the global 35% divestment of Japanese Company from Mitsubishi Hitachi Power Systems, leaving Mitsubishi Heavy Industries as the sole parent shareholder, which triggered an authorisation from the Ecuadorian Competition Authority.

Practice head(s):

María Rosa Fabara Vera; Mariana Villagomez


‘They have very good knowledge of the subject. The team are able to balance operational action and strategic thinking.’

‘Very good partner involvement.’

‘It is a highly capable team. They take the necessary time to get to know the details of the client’s business and how it works, so that they have the same level of experience as an in-house lawyer, not an external adviser, and they do not just prepare for a specific case. Knowing their clients so well means they can be called upon at any time and in any situation.’

‘The team stands out for its client service and willingness to discuss any concerns that arise, regardless of the day or time. If one member of the team is not available for some reason, this does not affect the process at all – all of the team members have the knowledge and ability to represent us well. They are responsive, honest, punctual, responsible and patient.’

‘What sets the team apart is their expertise in the subject matter and knowledge of the client and the market; this combination means their advice is always focused on the right things.’

‘María Rosa Fabara has extensive knowledge and good judgement. She always keeps up to date on different topics and tries to introduce good practices.’

Key clients

Heineken Ecuador

PepsiCo Alimentos Ecuador


F&E Ecuatoriana

Medisystem Holding

Tiendas Industriales Asociadas (Tia)

Leche-Gloria-Ecuador (Grupo Gloria)

Abbott Laboratories

AIG Metropolitana


Holcim Ecuador



DirecTV Ecuador

Bimbo Ecuador

B Braun Medical


Work highlights

  • Acted for PepsiCo Alimentos Ecuador in an investigation initiated by a complaint filed by a former supplier alleging abuse of dominant position; the complaint was rejected and the investigation closed.
  • Advised Medisystem Holding on the merger filing before the Ecuadorian Competition Authority concerning its acquisition of the majority of shares of Servialamo, which received unconditional approval.
  • Acted for Tiendas Industriales Acosiadas in an investigation initiated by a complaint to the Ecuadorian Competition Authority against several dairy product producers and distributors for alleged unfair practices; the investigation was closed and no charges were brought against the client.

Ecuador > Corporate and M&A Tier 2

Fabara & Compañía is particularly well known for its work with clients in the insurance industry, fielding a dedicated team with substantial experience in the sector that provides the full range of services to industry clients and is led by Mariana Villagomez Álvarez. Villagomez also co-leads the ‘skilled and knowledgeable‘ corporate team alongside Diego Ramírez Mesec, who is particularly experienced in international trade matters, and María Rosa Fabara Vera, who is highly active in the pharmaceutical, construction and telecoms sectors, among others. Senior associates María Fernanda Palacios Miranda and Andrés Becdach provide support. Key areas of recent work for the firm include cross-border M&A, commercial contracts and procurement, and governance advice. Since publication, the firm has announced a tie-up with fellow local heavyweight, Bustamante & Bustamante, becoming Bustamante Fabara as of November 2021.Bustamante & Bustamante has ‘extensive experience‘ across the full spectrum of corporate matters, with a strong track record in the fields of transactional due diligence, corporate reorganisations and joint ventures. M&A is another key area of practice for the team, with a bevy of international clients instructing the firm in relation to deals in the telecoms, logistics, and food and beverage sectors, among others; practice co-head José Rafael Bustamante Crespo frequently leads on such matters. Fellow co-head José Rafael Bustamante Espinosa is particularly recommended for advising foreign clients seeking to enter the local market, handling a range of structuring and corporate issues. Other key figures in the team include senior partner Juan Carlos BustamanteJuan Felipe Bustamante Crespo, and associates Kirina González and Valentina Morillo. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.

Practice head(s):

Maria Rosa Fabara Vera; Mariana Villagomez Álvarez; Diego Ramírez Mesec


‘Very skilled and knowledgeable lawyers, who have a deep knowledge of the subject matter and are used to working with foreign clients. It is a very committed and hard working team.’

‘Besides their deep knowledge of the matters at stake, Fabara’s lawyers are very committed and work hard to meet the client’s needs and timelines. The commitment and involvement of Mari­a Rosa Fabara and Andrés Becdach really stands out.’

‘It is a solid team focused on dealing with issues that may lead to problems later on as well as resolving problems encountered during the transaction. Maria Rosa Fabara raises the level of analysis.’

‘Both partners and associates are very skilled in different matters. Maria Rosa Fabara and Andrés Becdach stand out for corporate matters and negotiations.’

‘A capable and efficient team.’

‘They have the best possible understanding of the client’s needs and how to solve any problems that are encountered.’

Key clients

China International Water & Electric Corporation (CWE)

Pascal Universal

New Sea Development Services


Work highlights

  • Advising China International Water & Electric Corporation (CWE) on the execution of a contract for the construction of the Toachi-Pilatón Hydroelectric Plant, procured by state-owned company Empresa Pública Estratégica Corporación Eléctrica del Ecuador (CELEC).
  • Advised Pascal Universal, New Sea Development Services and Abako on the acquisition of the remaining shares of Pacific Bank from Pacific Blue Ocean Holding.
  • Advised Zurich Seguros Ecuador on an insurance claim made by Aeropuertos Ecológicos Ecogal for compensation for economic losses suffered due to the cessation of operations of the airport of Galapagos due to Covid-19.

Practice head(s):

José Rafael Bustamante Espinosa; José Rafael Bustamante Crespo


‘The Bustamente & Bustamente team has extensive experience in the sale and purchase of businesses, representing both buyers and sellers. Its multi-disciplinary approach and personalised service are the key attributes of B&B, and set it apart from other firms.’

‘In addition to having broad knowledge of local legislation and its application, the team have the ability to relay this to clients, clearly understanding their needs and translating this understanding into documents, agreements and other vehicles to assist with closing transactions.’

‘Excellent client service and very effective response times.’

‘The team are friendly, have excellent knowledge of the subject and are masters of their profession.’

Key clients

Phoenix Tower International

Transportadora Ecuatoriana de Valores (Tevcol)

Grupo Sur

AKD International

World Learning

Orbcomm – Leosatellite

Work highlights

  • Advised Tevcol on its 100% sale to Prosegur.
  • Handled the post-closing for Phoenix Tower International following the acquisition of 1,406 telecoms towers from Telefónica, and advised on two separate asset purchase agreements for telecoms towers and DAS systems.
  • Advised Grupo Sur, a Costa Rican-headquartered regional business group, on all aspects of setting up operations in Ecuador.

Ecuador > Dispute resolution Tier 2

Bustamante & Bustamante handles a wide range of matters in the dispute resolution space, with notable recent instructions in the field of civil, commercial and administrative disputes. The firm is also particularly experienced in alternative dispute resolution, with several practitioners handling complex arbitration and mediation matters. José Rafael Bustamante Espinosa, who is active across the full spectrum of disputes, heads the team alongside senior partner Juan Carlos Bustamante. Other key figures within the team include Juan Felipe Bustamante Crespo, who focuses primarily on contentious corporate matters, José Rafael Bustamante Crespo, who handles cross-border commercial litigation, and associates Francisco Alvear, who is highly recommended for constitutional law, José Francisco Mejía and public law specialist Antonio José Pérez. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.Fabara & Compañía handles a wide range of cases including civil, commercial, administrative and constitutional claims, acting for domestic and international clients. The firm handles both mediation and arbitration, though it is most active in litigation before Ecuadorian courts, including follow-on cases from other disputes such as set-aside proceedings for arbitral awards. Mariana Villagomez Álvarez and María Rosa Fabara Vera head the team, with the former focusing on the pharmaceutical and insurance industries, while senior associate María Fernanda Palacios Miranda is also noted. Since publication, the firm has announced a tie-up with fellow local heavyweight, Bustamante & Bustamante, becoming Bustamante Fabara as of November 2021.

Practice head(s):

José Rafael Bustamante Espinosa; Juan Carlos Bustamante


‘The disputes team at the Bustamante & Bustamante has dealt with major cases in Ecuador and we are happy we decided to work with them.’

‘José Rafael Bustamante Espinosa and José Rafael Bustamante Crespo are outstanding lawyers. We have worked with them for several years now and the results have been extraordinary.’

‘The team’s knowledge, client service and availability are all strong points, but if I had to highlight one aspect of the practice, it is that they understand our requirements.’

‘Bustamente & Bustamente has a well-rounded team with lawyers who can assist clients in any area of law. They are very methodical and orderly, making the service they provide very efficient and smooth.’

‘What stands out is their knowledge and ability to suggest alternatives to their clients. José Rafael Bustamante has a very commercial perspective, and his advice is effective and profitable.’

‘Bustamante & Bustamante has always been a strategic ally for us in litigation and arbitration cases, advising us and seeking out the best option for our company.’

‘Their strongest point is their client service and timely communication. They explain what can happen in a case, and the best and worst case scenarios, and they take the time to listen to clients and explain all legal terms in detail.’

Key clients

Industrias Ales

China Railway No 9 Engineering Group


Eni Ecuador


Herbalife del Ecuador

Husqvarna Triumph

Instituto de Seguridad Social de las Fuerzas Armadas (ISSFA)

Work highlights

  • Represented Industrias Ales in a multi-jurisdictional lawsuit against CNH International following a $160m claim for unilateral and early termination of a distribution agreement.
  • Represented China Railway No 9 Engineering Group in a lawsuit for $150m against the Ecuadorian Ministry of Education following its decision to terminate a contract for the construction of 200 educational units.
  • Represented Arcotel, the Ecuadorian telecoms regulator, following a constitutional appeal to overturn an arbitral award (in its favour) and a court dismissal of a nullity action.

Practice head(s):

Maria Rosa Fabara Vera; Mariana Villagómez


‘They have specialised technical knowledge of our area of business.’

‘Maria Rosa Fabara provides a spectacular service. Her knowledge is the pillar of the practice, as well as her affable and effective communication style. These qualities give clients peace of mind when she is handling a case.’

‘Mariana Villagomez has extensive knowledge and technical ability, and is always available to deal with enquiries and requests.’

‘The team stand out for their professionalism, specialist knowledge of their areas of law, and personalised service.’

‘Fabara & Compania has vast knowledge and experience and the team advises us from the very beginning of the legal process, suggesting all possible alternatives and providing support.’

‘Maria Rosa Fabara and Mariana Villagomez are outstanding.’

Ecuador > Real estate Tier 2

Bustamante & Bustamante remains a strong player in the real estate field, taking on several new clients despite the poor market conditions caused by the Covid-19 pandemic, such as Distribuidora Nacional de Automotores, alongside continued work for high-profile clients such as Harvard Management Company and Phoenix Tower International. The hospitality sector is a key one for the firm, with several major chains instructing the team in relation to lease disputes stemming from enforced closures, as well as handling acquisitions, disposals and new developments. José Rafael Bustamante Espinosa heads the practice alongside regulatory and hospitality specialist Juan Felipe Bustamante. At the associate level, Olinda Vera is recommended for property development and leasing work, particularly when it requires interaction with local government. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.Maria Rosa Fabara Vera heads the real estate team at Fabara & Compañía, which frequently collaborates with other departments to provide a wide range of real estate services, including advising on the construction of commercial premises, acquisitions of both single properties and portfolios, and leasing and tenancy agreements. Notable figures from the team include associates José Antonio Fabara, who is active in the structuring of real estate transactions, and Andrés Becdach, who focuses on transactional work. Since publication, the firm has announced a tie-up with fellow local heavyweight, Bustamante & Bustamante, becoming Bustamante Fabara as of November 2021.

Practice head(s):

José Rafael Bustamante Espinosa; Juan Felipe Bustamante

Key clients

Harvard Management Company

Phoenix Tower International Ecuador


Fideicomiso Piedras Blancas


Empresa Turística Equinoccio (Equinosa)

Distribuidora Nacional de Automotores

Work highlights

  • Advising Harvard Management Company on major forestry projects in Ecuador, involving more than 15,000 hectares of land and teak forest.
  • Advised Phoenix Tower International Ecuador on a prepaid lease project for over 1,400 real estate properties, in addition to the acquisition of 55 properties from Telefónica.
  • Continued to represent Equinosa in a case against the Pichincha Provincial Council, which expropriated land located in Ciudad Mitad del Mundo (Middle of the World City).

Practice head(s):

Maria Rose Fabara Vera


‘They provide support and advice not only on the legal procedures but also on preventing problems. The team stand out for their diligence, promptness and responsiveness.’

‘Excellent advice and support throughout the process. Always available and ready to seek immediate solutions to problems, taking care to comply with deadlines and requirements of all the parties.’

‘They are always willing to look for alternatives and solutions.’

Key clients

Pepsico Alimentos Ecuador



Munir Abedrabbo (Corpmunab, Cobra Facil Fabracilisa)

Textiles El Rayo

Textiles Ecuador

International Shipping and Storage


B Braun Medical

Opticas GMO


C Stainweg (Ecuador)

Tiendad Industriales Asociados (TIA)

Work highlights

  • Advised Pepsico Alimentos Ecuador on the construction of a plant and warehouse for the bottling and production of drinks.
  • Advised Farmalatina on the acquisition of real estate.
  • Advised Baguette on the drafting of leases and resolution of conflicts with tenants.

Ecuador > Tax Tier 2

Bustamante & Bustamante is particularly active in the field of tax structuring and tax planning, acting for a range of clients including high-net-worth individuals, family offices, and large domestic and international companies. Advising on international tax issues such as double taxation treaties, customs regimes and transfer pricing is another key part of the firm’s practice. Veteran practitioner Juan Carlos Bustamante heads the team and handles a range of tax disputes in addition to his non-contentious practice. María Fernanda Saá-Jaramillo, who handles a wide range of international work, and compliance expert Lorena Ortiz are key figures from the associate ranks. Since publication, the firm has announced its merger with fellow local firm Fabara & Compañía to become Bustamante Fabara, effective as of November 2021.Fabara & Compañía handles a range of tax work, including advice on customs issues, tax planning, litigation and dispute resolution, and tax refund procedures. Tariff proceedings are a frequent source of work for the team, which recently obtained a reclassification of several pharmaceutical products that had previously been treated as food for tariff purposes. Practice co-head María Rosa Fabara Vera is a key contact at the partner level, and is particularly experienced in matters which involve the real estate sector, while fellow co-head and senior associate Diego Pino Roditti brings significant government-side experience to the department, having previously served as the head of the legal department of the SRI. Since publication, the firm has announced a tie-up with fellow local heavyweight, Bustamante & Bustamante, becoming Bustamante Fabara as of November 2021.

Practice head(s):

Juan Carlos Bustamente


‘María Fernanda Saá-Jaramillo and her team are excellent. They provide a personal service and give us support in all the areas of law that we require.’

Practice head(s):

María Rosa Fabara Vera; Diego Pino Roditti


‘Fabara Abogados have extensive knowledge in tax matters and have always provided us with efficient and timely advice, with a 100% success rate.’

‘Teamwork, efficient communication, and extensive knowledge of corporate and tax issues.’

‘Diego Pino is a very good lawyer and provides a personal service.’

‘The Fabara tax team is highly recognised at the local level. The analyses they carry out are very thorough, considering all the possible angles of a particular case.’

Key clients

Azzorti Venta Directa

Empresas Carozzi

Leche Gloria



Supermercado de Computadoras

Nihon Kenko del Ecuador

Monster Energy Bebidas Ecuador

Work highlights

  • Acted for Abbott Laboratories in challenging the Ecuadorian customs authority’s decision to determine that certain pharmaceutical products from various importers should be classified as food for tariff purposes.
  • Acted for Aspenpharma in a dispute with the tax authority over the undue payment of income tax in 2016.
  • Acted for Aon Risk Services Ecuador in a case seeking the return of undue payment of tax on dividends distributed to shareholders.

Fabara & Compa??a Abogados is a prominent law firm in Ecuador with a general full-service practice, providing legal services and counsel throughout all of Ecuador to investors and corporations.

Fabara & Compa??a Abogados is renowned not only for the depth and breadth of its legal counsel in every major area of the law relevant to corporations, but also for the extensive experience accumulated by the members of the firm in government, academia and business, as well as for the team’s professionalism, personalized service and accessibility.

The firm

Following the split of a law firm in 1993, Fabara & Compa??a was founded in the city of Quito, Ecuador in 2003, as law offices of general practice with the ambition to reach the highest standards of service and professionalism.

Main areas of practice

Litigation/ADR: the firm handles civil and commercial litigation, administrative proceedings and ADR, enforcement of foreign judgments and awards in Ecuador.

Banking and finance: the firm advises on secured and unsecured credit facilities, sovereign and sub-sovereign credit, trade finance leasing transactions, vendor and leveraged lease financings, structured finance, project finance, buyouts, acquisition finance and bank regulatory matters.

Telecommunications: the firm is extremely active in this field, acting on behalf of telecommunications and TV satellite companies.

Energy and mining: the firm has advised several multinationals involved in the energy sector and gas and power industries. The firm is also at the forefront of protecting foreign investors interested in unlocking Ecuador’s enormous mining potential.

Corporate/M&A: working for a wide commercial spectrum, the firm deals with all corporate matters. It has extensive experience in M&A transactions, assisting sellers, buyers and financiers in all stages, from initial due diligence and negotiation to close of transaction. It is also actively involved in corporate litigation.

International trade: the firm advises on a wide range of transactions, covering the application of bilateral and multilateral trade agreements and regulations to safeguards, subsidies and technical obstacles to trade.

Government procurement/public contracting and concessions: in Ecuador this area is subject to special, sometimes obscure and arcane, laws and regulations which need to be strictly observed. The firm has expertise second to none, as well as extensive relations with regulators.

Insurance: the firm’s specific expertise in insurance has gained it the trust of some of the key players, both national and foreign.

Intellectual property: the firm handles IP protection and management, transfer of technology and license agreements, and international franchising agreements and licensing. It also advises on the protection of patents, utility models and ornamental design rights, general trademark matters and worldwide trademark protection.

Labor and employment: the firm advises on restructuring collective bargaining and government/union negotiations, as well as employee stock options and benefit plans. It also handles litigation.

Taxation: the firm advises on tax-efficient structures for domestic and international transactions.

Antitrust and competition María Rosa Fabara E: mrfabara@fabara.ec
Antitrust and competition Diego Ramírez E: dramirez@fabara.ec
Banking and finance Diego Ramírez E: dramirez@fabara.ec
Corporate and M&A María Rosa Fabara
Corporate and M&A Diego Ramírez
Corporate and M&A Mariana Villagómez E: mvillagomez@fabara.ec
Foreign investment María Rosa Fabara
Foreign investment Diego Ramírez
Insurance Mariana Villagómez
Intellectual property María Rosa Fabara
Intellectual property Pablo Fabara E: pfabara@fabara.ec
Labor and employment Francisco Vacas E: fvacas@fabara.ec
Litigation and ADR María Rosa Fabara
Litigation and ADR Mariana Villagómez
Tax María Rosa Fabara
Tax Diego Pino E: dpino@fabara.ec
Francisco Alvear photo Francisco AlvearAssociate Attorney. Joined the firm in May 2013 and works in the…
Juan Carlos Bustamante photo Juan Carlos BustamanteSenior Partner. Has provided legal advice in different areas of the law…
Juan Felipe Bustamante photo Juan Felipe BustamantePartner/Co-head of the Corporate department
Josemaría Bustamante photo Josemaría BustamanteSenior Partner. Josemaria Bustamante has assisted international clients in: Litigation, Multilateral transactions;…
Francisco Bustamante photo Francisco BustamantePartner. Main areas of work comprise civil and commercial contracts, mercantile law,…
José Rafael Bustamante Crespo photo José Rafael Bustamante CrespoPartner José Rafael hast experience in M&A activity in Ecuador. He has…
José Rafael Bustamante Espinosa photo José Rafael Bustamante EspinosaManaging Partner, Senior Partner. M&A expert. Represented ARCA-EBC Bottling Company in the…
Ximena Cabezas photo Ximena CabezasAssociate. Corporate, Natural Resources, Labor, Environmental. Legal translator from English and French…
Kléver Chila photo Kléver ChilaAssociate Attorney. Specialist in corporate law, the Constitution, the operations of national…
Sebastián Corral photo Sebastián CorralAssociate Attorney. Corporate Law; M&A; Energy; Oil, Mining & Gas; Alternative Dispute…
Andrea Egas photo Andrea EgasAssociate. Andrea has developed her professional career in both the public and…
David Estrella photo David EstrellaAssociate
Pedro Gómez de la Torre photo Pedro Gómez de la TorreAssociate. Having worked as inhouse attorney at the major players of the telecommunication…
Kirina Gonzalez photo Kirina GonzalezSenior Associate
Gino Ivich photo Gino IvichJunior Associate
Adriana Lasso photo Adriana LassoAssociate
José Francisco Mejía photo José Francisco MejíaAssociate Attorney. Joined the Bustamante & Bustamante Law Firm in 2008 as…
Valentina Morillo photo Valentina MorilloAssociate
María Soledad Noboa photo María Soledad NoboaAssociate
Lorena Ortíz photo Lorena OrtízAssociate. Professional practice in tax matters, offering legal advice to individuals and…
Sebastián Páez photo Sebastián PáezAssociate
José Daniel Páez photo José Daniel PáezAssociate
Antonio José Pérez photo Antonio José PérezAssociate
Clementina Pomar Anta photo Clementina Pomar AntaSenior Associate. Pursued extensive professional career in Spain and joined the Firm…
Avelina Ponce photo Avelina PonceAssociate
Diego Ponce photo Diego PonceJoined the Bustamante & Bustamante Law Firm as paralegal in the year…
Patricia Ponce photo Patricia PoncePartner
Carmen Robayo de Hidalgo photo Carmen Robayo de HidalgoPartner of the Firm since 1986. Joined the Bustamante & Bustamante Law…
María Fernanda Saá-Jaramillo photo María Fernanda Saá-JaramilloMember B&B Tax and Competition Departments, 2002-. Head of B&B Guayaquil Office,…
Galo Sanchez photo Galo SanchezAssociate of the Bustamante & Bustamante Law Firm.
Olinda Vera photo Olinda VeraSenior Associate. Law careers focuses on civil, labor, and environmental litigation cases.
Other fee-earners : 35
Total staff : 96
Partners : 4