Bustamante Fabara > Quito, Ecuador > Firm Profile

Bustamante Fabara > The Legal 500 Rankings

Ecuador > Banking and finance Tier 1

The sizeable banking and finance department at Bustamante Fabara stands out for its cross-border expertise, showcasing the ability to handle secured and unsecured corporate lending as well as complex issues relating to capital markets. An additional specialism for the group is thematic bond transactions, where it plays an active role in the launch of green, blue, social and sustainable bonds. The practice increased its capabilities with the September 2022 hire of Jesús Beltrán – formerly the head of banking at Robalino – to its roster of experienced professionals; he acts as co-head of the team alongside Diego Ramírez Mesec, who is often retained by foreign lenders and financial institutions. Other key developments include the arrival of senior associates Patricio Santos, Belén Jaramillo and Juan Bernardo Guarderas, following Beltran in his move and adding considerable regulatory and transactional experience. The team’s advice to International Finance Corporation, Symbiotics Investments and LAGreen in their subscription to a $79m blue bond issuance by Banco Internacional is a key highlight in this respect.

Ecuador > Competition and antitrust Tier 1

Bustamante Fabara brings the combined capabilities of its two merged firms – Bustamante & Bustamante and Fabara & Compañía – to assist an impressive roster of retail, pharmaceutical, food and beverage, aviation, insurance and entertainment clients, with the eight-strong team boasting considerable experience in anti-competitive agreements, pre-merger fillings, abuse of dominance cases, unfair competition matters and judicial proceedings before the National Court. Managing partner Maria Rosa Fabara Vera, a name to note for a wide array of competition law issues, leads the practice alongside M&A and merger clearance specialist José Rafael Bustamante Crespo. Between the two, they advise the likes of Tiendas Industriales Asociadas (TIA), DirecTV Ecuador, Heineken and LATAM Airlines, having successfully acted on behalf of TIA in a merger control notification for the acquisition of 60% of Delivereo. Other highlights include their representation of Chaide & Chaide in an investigation proceeding before the antitrust authority. The team also features directors Daniel Castelo and Kirina González, active in investigation proceedings and merger clearance matters, respectively.

Ecuador > Corporate and M&A Tier 1

Bustamante Fabara has a strong track record in domestic and foreign mergers and acquisitions, and regularly carries out due diligence on both the buyer and seller side. The department is ably led by María Rosa Fabara, José Rafael Bustamante Crespo, who ‘always has a strategy to solve a complicated situation’, and often leads the firm’s corporate transactional matters, and Juan Felipe Bustamante Crespo , who is a key name for cross-border work and is a key part of the group’s ability to assist foreign companies wishing to set up business in Ecuador. The trio are well supported by associate Kirina Gonzalez, who ‘has vast knowledge and offers continuous support‘. The firm saw further growth in September 2022 with the arrival of senior associate Juan Bernando Guarderas.

Ecuador > Dispute resolution Tier 1

Bustamante Fabara's team excels in commercial litigation and arbitration. Of particular note is the firm’s expertise in insurance litigation, an area of specialism for group leader Mariana Villagomez Álvarez, who jointly heads the department alongside José Bustamante and managing partner María Rosa Fabara. The team continues to evolve since the merger between Bustamante & Bustamante and Fabara & Compañía in November 2021, with industries of interest for the team in 2022 including the power and infrastructure sectors. As a group, there is demonstrable expertise in representing clients before courts at all levels, from local civil courts to appellate courts. Other key practitioners include up-and-coming partner Hugo García Larriva, a June 2023 hire from Carmigniani Pérez Abogados); and associate Francisco Dávila Caicedo, who is frequently active in alternative dispute resolution proceedings.

Ecuador > Intellectual property Tier 1

The consolidated intellectual property team at Bustamante Fabara draws from the combined expertise of José Rafael Bustamante Espinosa, María Rosa Fabara and María Clara Bustamante to provide market-leading services in relation to trade marks, patents, enforcement and unfair competition. Within these areas, the practice is primarily engaged to act on the filing of applications, prosecution proceedings as well as litigation, sought by the likes of Google, Warner Bros. Entertainment, Heineken and Grupo Bimbo. Additional knowledge is provided by associates Pablo Fabara Vera, active in contentious mandates in particular, invention patents expert Avelina Ponce and Oscar Reyes, who adds experience as president of the Ecuadorian Intellectual Property Committee.

Ecuador > Labour and employment Tier 1

The consolidated labour team at Bustamante Fabara attracts leading companies in the food and beverage, healthcare, retail and manufacturing industries, with the practice covering both pre-emptive and remedial needs encompassing due diligence, restructuring operations, compliance, investigations, immigration matters and litigation. Patricia Ponce and Francisco Vacas share leadership of the team, combining over 50 years of experience in the field. Vacas is noted for his previous role in the Ministry of Labour Relations; in a recent highlight, he led the firm’s representation of Icesa in 87 claims relating to the dismissal of workers due to force majeure. At the associate level, Angeles Mancheno is a key contact for due diligence in commercial transactions, labour audits and judicial processes, having rejoined the firm in June 2022. Associate Gabriela Díaz left the firm.

Ecuador > Real estate Tier 1

Bustamante Fabara continues to leverage its growth to attract new clients in the construction, hospitality and industrial sectors, particularly those seeking advice on the sale, purchase and lease of properties. Main areas of focus for the group include advising developers and investors on urban and rural developments, as well as commercial and residential projects, where the team benefits from its strong ties with entities in the tourism, telecoms, energy and infrastructure industries. Juan Felipe Bustamante and José Rafael Bustamante Espinosa steer these efforts, with considerable knowledge of regulatory and project structuring matters, respectively. They act alongside José Rafael Bustamante Crespo and María Rosa Fabara, key names to note for issues of a transactional nature. The team was further strengthened at partner level with the hire of Ernesto Weisson to the Guayquil office (from Deloitte) in May 2023. At the senior associate level, Kirina González and Andrés Becdach are standout names; both are focused on the transfer of real estate assets.

Ecuador > Tax Tier 1

Bustamante Fabara has a strong track record in contentious tax matters, where it acts on behalf of high-profile clients in tax refund proceedings, administrative tax claims and unfavourable determination processes brought about by the Ecuadorian Internal Revenue Service (SRI). Led by Diego Pino, who has over 20 years of experience to his name, the firm’s expertise also extends to foreign trade, tax planning, sectional taxes, tax treatment of dividends, and tax components of M&A transactions. Juan Carlos Bustamante is another practitioner with longstanding experience in the field, working on strategic tax and corporate matters for domestic and multinational companies, while director and international taxation specialist María Fernanda Saá-Jaramillo is noted for making an impact for clients seeking advice on double taxation and tax evasion issues, adding 20 years of experience to the team’s combined knowledge. Sofía Gordillo is another standout, recommended for transactional matters and sensitive internal taxation processes. Among recent highlights, the practice represented Abbott Laboratorios del Ecuador before the Constitutional Court in relation to tariff classifications of pharmaceutical products.

Ecuador > Energy and natural resources Tier 2

Bustamante Fabara, a firm which was born from the merger between Bustamante & Bustamante and Fabara & Compañía in November 2021, fields an energy and natural resources team which ‘offers a personalised and very professional service‘. Team leader Rafael Valdivieso, who joined from Robalino in September 2022, is well supported by associate Gustavo Almeida, and the pair are described as ‘very knowledgeable and open to generating improvement strategies and meeting objectives’. The department counts major energy companies among its clients, and practice head Valdivieso is also active in the oil and gas and mining industries in Ecuador.