Payet, Rey, Cauvi, Pérez Abogados > Lima, Peru > Firm Profile

Payet, Rey, Cauvi, Pérez Abogados
VÍCTOR A. BELAÚNDE 147
TORRE TRES, PISO 12
SAN ISIDRO, LIMA
Peru

Peru > Banking and finance Tier 1

Fielding one of the largest finance teams in Lima with 35 lawyers, Payet, Rey, Cauvi, Pérez Abogados excels across a broad spectrum of finance work for the country's leading domestic banks and finance companies. Unlike some of the lender-focused law firms, this practice also acts for borrowers, typically some of the largest companies in the country, as well as local and international sponsors and funds. At the helm, José Antonio Payet and José Cúneo are a formidable duo: Payet for his reputation in the field built off a track record of sophisticated transactions, and Cúneo for his dominant role within the team, leading on the majority of current key deals. They include acting for Banco BBVA, Credicorp Capital Servicios Financieros and Itaú as lead arrangers in the refinancing of a $275m loan facility granted to Compañía de Minas Buenaventura, the country's largest mining company. Eduardo Vega is another lead member of the team and widely respected by peers for his capability, particularly capital markets and structured finance. The practice benefits from a large bench of experienced associates, of which principal Alan García Nores is noted for his ability in complex domestic and cross-border transactions and financial products.

Practice head(s):

José Antonio Payet; José Cúneo

Testimonials

The team led by José Cúneo is always available to assist us and resolve all our concerns and requirements. Also, Alejandro Fuller stands out for his proactivity and always giving the extra mile to meet deadlines.’

Committed and responsible, they propose alternatives and provide experience and knowledge on relevant issues.

We have a long-standing business relationship and the consultancies are carried out in an environment of mutual trust. Alan García Nores shows great ability to analyse problems and propose solutions; he has a lot of knowledge and knows how to plan to anticipate the response of the counterpart in order to propose solutions and shorten transaction times.

Key clients

Banco BBVA

Banco de Crédito del Perú

Algeciras Inversiones

Credicorp Capital Servicios Financieros

Itaú

Gold Fields La Cima

Copen Inversiones II and its affiliates

Scotiabank Perú

InRetail Peru Corp

Banco Internacional del Perú

Coöperatieve Rabobank

Work highlights

  • Advised the lead arrangers Banco BBVA, Credicorp Capital Servicios Financieros and Itaú in connection with the refinancing of a 2016 $275m loan facility granted to Compañía de Minas Buenaventura.
  • Advised a syndicate of lenders on entering into a temporary agreement for the issuance of guarantee letters (cartas fianza) in favour of the Peruvian Tax Administration (SUNAT) and for the benefit of Buenaventura.
  • Advised InRetail Peru Corp on the financing for the acquisition of Makro Supermayorista.

Peru > Capital markets Tier 1

Payet, Rey, Cauvi, Pérez Abogados earns top ranking due to its consistent performance in headline transactions: it acted for the underwriters, including Goldman Sachs, Morgan Stanley, BBVA Securities, in the $4bn sovereign bond issuance by the Republic of Peru, the first 100-year bond in Peruvian history; it also represented the underwriters - Citigroup Global Markets, Goldman Sachs, HSBC Securities (USA) and Santander Investment Securities - in the Republic of Peru's earlier $3bn sovereign bond issuance. Co-head of the practice José Cúneo led the advice on both deals. Fellow head of the practice Eduardo Vega is widely respected and enjoys a strong following among Peru's banking elite and is regularly sought after for complex and high-value capital markets deals, while principal associate Alan García Nores continues to be praised by clients.

Practice head(s):

Eduardo Vega; José Cúneo

Testimonials

The partners and lawyers are among the best in the market, their extensive knowledge and experience provide a high quality of advice. It widely compares favourably with teams from other firms in the same practice areas, a lot of solidity and experience.

Eduardo Vega is the partner with whom we interact, they have vast knowledge and experience in the capital markets, so his advice has been essential to obtain very favourable negotiations and agreements.

Key clients

Credicorp Capital Servicios Financieros

Banco de Crédito del Perú

Credicorp

Banco BBVA Perú

Prima AFP

AC Capitales SAFI

Sura Investment Management

Compass Group Sociedad Administradora de Fondos de Inversión

Sigma Sociedad Administradora de Fondos de Inversión

Citigroup Global Markets, Goldman Sachs, HSBC Securities (USA) and Santander Investment Securities

Work highlights

  • Advised BBVA Securities, Citigroup Global Markets, Goldman Sachs, Itau BBA USA Securities and Morgan Stanley as underwriters on a historic $4bn sovereign bond issuance by the Republic of Peru, including the first century bond in Peruvian history.
  • Advised Citigroup Global Markets, Goldman Sachs, HSBC Securities (USA) and Santander Investment Securities as underwriters on a  $3bn sovereign bond issuance by the Republic of Peru.
  • Acted for Banco de Crédito del Perú on the issuance of $850m new subordinated US dollar-denominated 3.125% subordinated fixed-to-fixed rate notes, due 2030.

Peru > Competition and antitrust Tier 1

The widely-revered practice at Payet, Rey, Cauvi, Pérez Abogados stands out for its expertise and track record in the most complex and business-critical antitrust and competition matters in Peru. It is no surprise then, that it is handling one of the most high-profile matters in the country’s recent history: acting for Graña y Montero in allegations of bid rigging in public procurement processes, a case entwined with the infamous, Latin American-wide, ‘Lavo Jato’ scandal. The firm’s eminence in this practice area is credited to practice head Carlos A. Patrón, who is a ‘true expert – both his experience and his great knowledge allow him to make the best decisions‘. His team of nine well-trained associates include principals Julia Loret de Mola, David Kuroiwa and Giancarlo Baella, who all play indispensable roles on lead matters and ‘stand out in relation to other firms’. Since publication, Loret de Mola has been raised to the partnership - effective January 2022.

Practice head(s):

Carlos A. Patrón

Testimonials

The team is very professional. They are true experts on the subject. We have had magnificent results.’

Carlos Patrón is a true expert. Both his experience and his great knowledge allow him to make the best decisions. David Kuroiwa also has great experience. He is very diligent and a great disciple of Carlos.’

Updated in jurisprudence, doctrine and new legislation on the matter; with knowledge of the law applied to busines.

Their efficiency and up-to-date knowledge stand out.’

The attorneys that make up the team have a very deep understanding of business and a strong concept of customer service.’

Carlos Patron is a very intelligent and practical lawyer. He talks to the customer in a way that he understands. Giancarlo Baella anticipates situations and is always available.’

Payet’s competition team handles processes before the free competition authority in Peru, Indecopi. It does so in a very agile way and knows how to identify risks and fund issues relevant to defence.’

Carlos Patrón understands the reality of the business very well and knows how to adapt his legal advice, taking this into account. David Kuroiwa, Giancarlo Baella and Julia Loret de Mola are the associates who stand out in relation to other firms.’

Key clients

Compañía Latinoamericana de Radiodifusión

Graña y Montero (AENZA)

Grupo Intercorp (Supermercados Peruanos, Tiendas Peruanas, Homecenters Peruanos)

América Móvil Perú

Oncosalud (Grupo Auna)

Línea Amarilla (LAMSAC)

Inretail Pharma

Enel Generación Perú

Work highlights

  • Advising a client from the retail sector on a preliminary investigation initiated ex-officio by the Peruvian Competition Commission regarding possible horizontal price-fixing, hub-and-spoke and coordinated practices in the retail market regarding food and beverage products.
  • Advising a pharmaceutical client on a preliminary investigation initiated ex-officio by the Peruvian Competition Commission regarding possible abuse of dominant position practices in the pharmaceutical market.
  • Acting for Graña y Montero in an investigative and fining procedure initiated ex-officio by the Peruvian Competition Commission, related to possible bid rigging in public procurement processes for construction, rehabilitation, and maintenance of roads, during the period between 2002 and 2016.

Peru > Compliance Tier 1

Payet, Rey, Cauvi, Pérez Abogados earns top ranking due to its strength across the board of compliance work, with standout performances in the economic crime prevention and competition spheres, led by Juan Diego Ugaz and Carlos Patrón respectively. The firm represents some of the country's largest home-grown and foreign companies, handling a broad mix of prevention policies concerning money laundering, corruption crimes and other white-collar criminal matters, as well as competition compliance-programmes mandated by INDECOPI and other government agencies. Notably, the practice is able to represent clients in breach of compliance, whether criminal or administrative, through all sanctioning or judicial proceedings. Principal associate Francisco Ugaz is another criminal specialist and acts for a number of the firm's key clients in the infrastructure, finance and oil and gas sectors, among others; however, former practice co-head and white-collar specialist José Antonio Caro John left the firm in 2020.

Practice head(s):

Juan Diego Ugaz; Carlos Patrón

Testimonials

They are very well trained and understand very well what each client needs.’

Very precise and practical in their advice.’

Work highlights

  • Successfully defending a well-known financial institution on appeal in criminal proceedings concerning aggravated theft.
  • Obtaining a criminal dismissal order on behalf of a leading company in the oil and gas sector concerning a health and safety breach.
  • Advising a significant company in the construction sector on its antitrust compliance and identification of main antitrust contingencies.

Peru > Corporate and M&A Tier 1

Payet, Rey, Cauvi, Pérez Abogados is synonymous with M&A and corporate work, praised for its flexibility, creativity and ‘extensive experience‘. It fields an expert team that includes co-head of the practice and one of the best-known M&A and corporate finance lawyers in the market, José Antonio Payet. He is assisted at the helm by widely-respected Susan Castillo, one of very few female corporate department heads nationally. Other key partners include Juan José Cauvi and Alonso Rey, who advised the buyer and seller respectively on the firm’s work for both sides of the transaction in the acquisition of publisher Perú Económico. With very few high-value deals during 2020/21, the practice did well to land instructions from InRetail Perú on its $360m acquisition of 100% stake in Makro Supermayorista. Clients typically range from industrial buyers or sellers, investment banks, private equity firms or family-own conglomerates. Senior associate Guillermo Arribas is noted. Since publication, principal associate Alan García Nores has been raised to the partnership - effective January 2022.

Practice head(s):

José Antonio Payet; Susan Castillo

Testimonials

Smart, responsible, full knowledge of their work and committed to results.’

They analyse the problems globally and then go into detail, review the legislation and look for the angles that most favour a given problem. They think creatively, looking for alternative solutions not considered before.’

There is a lot of closeness and flexibility on the part of the team, as well as extensive experience. I consider it better than other teams of law firms present in the country.’

Juan José Cauvi: always available for any consultation, and concerned about obtaining the best result for his clients. Guillermo Arribas: an excellent service, even when the process became more complex and more time had to be invested on their part. Great experience despite his young age.’

Key clients

Credicorp Capital Servicios Financieros

CRP Medios y Entretenimiento

Multifoods

InRetail Perú

Work highlights

  • Advised InRetail Perú Corporation on the $360m acquisition of 100% stake in Makro Supermayorista.
  • Advised the main shareholders of Multifoods on selling a portion of shares in Multifoods to Continental Grain.
  • Acted on both the seller and buyer sides in the sale and acquisition of 100% of the shares of Perú Económico, publisher of business journal Semana Económica, which was acquired by a group of investors from sellers CRP Medios y Entretenimiento and private shareholders.

Peru > TMT (Technology, media and telecoms) Tier 1

Payet, Rey, Cauvi, Pérez Abogados combines the regulatory and administrative law expertise of Gerardo Soto with the competition, consumer and data protection capability of leading lawyer Carlos Patrón to provide a top-notch offering in this arena. América Móvil Perú is a key client of the firm, which it advises on an exclusive basis, most recently in relation to an investigative and fining procedure initiated by the Peruvian Consumer Protection Commission concerning allegedly Covid-19-related delays in the delivery of orders made through its e-commerce platform. Media and technology work typically includes the design of commercial agreements and policies, as well as regulatory advice, acting for LG Electronics Peru and Compañía Latinoamericana de Radiodifusión in this regard. Junior support is provided by six associates, among whom Carlos Baldeón shines for his focus on telecoms and regulatory matters.

Practice head(s):

Gerardo Soto; Carlos Patrón

Key clients

América Móvil Perú

Compañía Latinoamericana de Radiodifusión (Latina Televisión)

Enfoca

LG Electronics Peru

CRP Medios y Entretenimientos

Gilat Networks Peru

Gilat to Home Peru

Speedcast (Newcom International Peru)

Pluspetrol Perú Corporation

Homecenters Peruanos

Tiendas Peruanas

Supermercados Peruanos

Inretail Perú

Henkel Peruana

Unión de Cervecerías Peruanas Backus y Johnston (Backus)

Vale Exploration Perú

Inversiones Centenario

Work highlights

  • Advising América Móvil Perú on all relevant administrative procedures before local authorities, including the Ministry of Telecommunications and OSIPTEL
  • Advising Gilat Networks Perú on the implementation of regional broadband installation projects for integral connectivity and social development in Apurimac, Ayacucho and Huancavelica, as well as assisting with the negotiation and drafting of addendum proposals to be presented to the Telecommunications Investment Fund and the Ministry of Transport and Communications regarding FITEL, disbursements in favour of the company and guarantees.
  • Acting for América Móvil Perú regarding an investigative and fining procedure initiated ex-officio by the Peruvian Consumer Protection Commission related to alleged delays (during the Covid-19 pandemic) on the delivery of orders made through América Móvil Perú’s e-commerce platform.

Peru > Dispute resolution Tier 2

Payet, Rey, Cauvi, Pérez Abogados is equally adept in litigation and arbitration, attracting an extensive and well-balanced caseload in both areas, comprising civil, commercial, administrative and white-collar crime disputes. The team is also in demand for high-stakes corporate and shareholder conflicts, as well as enforcement actions against regulatory bodies. It continues to act for Scotiabank Peru in judicial proceedings against the Peurvian Tax Authority regarding a disputed $150m tax demand. The matter is led by well-known trial lawyer and co-head of the practice Julio César Pérez, assisted by principal associate Luis Bustamante and senior associate Alessandra Mendoza, both members of a well-trained, 13-strong, associate bench. On the arbitration side, practice co-head Mario Reggiardo leads on international matters for some major companies, often assisted by standout principal associate Mayra Bryce. Since publication, Bustamante has been raised to the partnership, as has white-collar specialist Francisco Ugaz – both promotions effective as of January 2022

Practice head(s):

Julio César Pérez; Mario Reggiardo

Testimonials

I believe that the team provides a comprehensive service and is capable of responding and reacting at the speed that the client demands. Given the business of our company, we can require jobs or make requests that require attention in a few hours, sometimes minutes and they have always been able to respond not only quickly but correctly. The response capacity is mainly due to the level of involvement of all the team members who know the details of each assigned case very well.’

I emphasise the work of Micaela Ortiz and Luis Bustamante: I have nothing but praise for their participation and involvement, attention to detail and in-depth knowledge of the cases. For cases of all levels, from the most complex to the relatively simple, they are capable of responding to all types of requirements.’

The team at Estudio Payet, Rey Cauvi, Pérez Abogados is characterised by having professionals committed to their clients whom they constantly support in their judicial processes, adding to the fact that they provide viable solutions (with sufficient legal support) as well as within reasonable prices.’

The PRCP team is always at the disposal of its clients. They answer your calls and offer the best facilities to answer your questions within a minimum period of time. I must highlight as outstanding Julio César Pérez (partner), must mention the support of Micaela Ortiz and Lucho Bustamante, both principal associates of the firm.’

Key clients

Scotiabank Perú

Tamshi

Corporación EW

Savia Perú

Intercorp

Río Pativilca

Algeciras Inversiones

Supermercados Peruanos

Rover Alcisa Perú (Grupo Rover)

Enel Generación Perú

Nexa Resources

Work highlights

  • Advised Scotiabank Perú in judicial proceedings to nullify a resolution of the Peruvian Tax Authority that illegally requires the payment of $150m based on the application of an irregular interest rate.
  • Advising an international company on a consultation procedure on an international trade agreement prior to initiating an ICSID arbitration.
  • Advising a construction company on an arbitration regarding the breach of a construction subcontract.

Energy and natural resources > Electricity Tier 2

A small but experienced team at Payet, Rey, Cauvi, Pérez Abogados punches above its weight, attracting significant players in the electricity sector as clients, such as Enel Group companies, Kallpa Generación (a recent gain) and Electroperú. The practice is particularly strong in everyday regulatory advice as well as administrative proceedings before relevant bodies, but also handles demanding transactions and projects with input from across the firm. Gerardo Soto is overall head of regulatory and administrative law, with a strong track record in power matters. He is the sole partner of this specialist team, supported by two associates, of which Mayra Aguirre is particularly prominent.

Practice head(s):

Gerardo Soto

Testimonials

Because of their experience and knowledge, they are comparable to other experienced teams from other law firms.’

We have worked in previous years with Gerardo Soto and Mayra Aguirre. Gerardo is an experienced lawyer in matters of the electricity sector, with solid knowledge and a quick ability to understand the questions that arise. Mayra is a lawyer who seeks to deepen the analysis; identifying, on some occasions, relevant aspects not initially considered.’

They are experienced in regulatory matters.’

Quick response and they know our business and its peculiarities.’

There is a broad multidisciplinary team within the area itself, with highly-experienced lawyers. It is an agile and proactive team.

In general, all professionals have a high degree of experience, which impacts on the reduction of the explanations that must be given to achieve the expected results when transferring a problem to them. I think the quality/fees ratio is very good. The best qualities are the speed and high efficiency in solving the client’s problems.’

Adequate knowledge of the sector and they propose creative outlets.’

Key clients

Enel Generación Perú

Enel Generación Piura (formerly EEPSA)

Enel Green Power Perú

Enel Distribución Perú (formerly Edelnor)

Enel Americas

Genrent del Perú

Conelsur LT (Group Transelec)

Grupo T-Solar Global

Parque Eólico Marcona/Parque Eólico Tres Hermanas

Termochilca

Volcan Compañía Minera

Perú Energía Renovable

German Kruger, Augusto Kruger and Sergio Kruger

Kallpa Generación

Red Eléctrica del Sur/Transmisora Eléctrica del Sur

Electroperú

Gold Fields La Cima/Compañía Transmisora Norperuana

Work highlights

  • Advising Genrent del Perú on day-to-day matters regarding its operations, including the requirements and obligations that the company must fulfil as concessionaire for the Iquitos Cold Reserve Generation plant and transmission facilities.
  • Advising Grupo T-Solar Global on all regulatory, electricity and corporate matters related to its operation of two photovoltaic power plants in southern Peru.
  • Acting for Enel Group and its Peruvian subsidiaries on a day-to-day basis, including Enel Generación Perú, on all regulatory issues, including rate revision procedures, compliance with the regulatory requirements to operate as power generation concessionaires and representation in sanctioning and administrative proceedings before the Ministry of Energy and Mines,  environmental authority OEFA and the regulatory agency OSINERGMIN, as well as other government authorities

Peru > Projects and infrastructure Tier 2

Payet, Rey, Cauvi, Pérez Abogados is able to advise on all stages of project planning, financing, development and management, with niche expertise in works-for-taxes projects, which involves investment in return for reduced income tax. A case in point is advising Asociación de Bancos del Perú (ASBANC) on the management of a series of infrastructure projects developed under this scheme. A focused team comprises Juan Antonio Egüez (corporate) and Gerardo Soto (public law), who lead on the vast majority of mandates; supported by counsel Karen Angeles, a public and administrative law specialist who has standout experience in works-for-taxes and PPP projects.

Practice head(s):

Juan Antonio Egüez; Gerardo Soto; Giovanna García

Testimonials

The Payet, Rey, Cauvi, Pérez Abogados law firm has been giving us an extraordinary service, the advice they have given us on mining issues has allowed us to make timely and beneficial decisions for the project we have been working with them. Teamwork is noticeable, since even the information is not handled by a single person, which allows us to go to any person on the team: José Cúneo, Michelle Aramburú or María Teresa Salazar for specific coordination. In the case of the advice itself, we have been able to exchange information in a fluid way, so that it can be analysed by them, demonstrating a comprehensive analysis of each query raised. In the case of urgent matters, we have had timely attention.’

In the case of José Cúneo, his handling of mining issues demonstrates deep experience and analytical capacity. It has made us feel that we have a solid and reliable advice that allows us to make our decisions. In the case of Michelle Aramburú, in addition to the knowledge and capacity for analysis, she has provided close attention when answering a call or attending a meeting, in addition to the involvement that she has shown us when reviewing and giving us a joint opinion. It has made us feel accompanied in our project design process and in making our decisions. In the case of María Teresa Salazar, the ongoing concern and involvement she has, and the interest in knowing the magnitude of the problem or query raised and carrying out ongoing coordination stands out.’

Key clients

Cosco Shipping Ports Chancay Perú (Terminales Portuarios Chancay)

T-Solar Group

Conelsur LT/Transelec Group

América Móvil Perú

ProInversión

Transportadora Callao

Enel Group

Grupo Enhol

Peruvian Banking Association

Work highlights

  • Providing corporate and regulatory advice to Terminales Portuarios Chancay on the development of their port infrastructure project, allegedly the largest investment in port infrastructure industry in a decade.
  • Advising ProInversión, the Peruvian  private investment promotion agency, on the assessment and structuring of the El Algarrobo mining project, presented before ProInversión as an unsolicited proposal under the Peruvian PPP projects regime.
  • Advising the Asociación de Bancos del Perú – ASBANC on the management of a series of infrastructure projects developed under the Works for Taxes scheme.

Peru > Public law and regulation Tier 2

The practice at Payet, Rey, Cauvi, Pérez Abogados advises a high-calibre client base on a variety of dealings with municipal, regional and central government, as well offering administrative and regulatory capability across a range of industries. Notably, it has a particularly strong works-for-taxes practice lead by counsel Karen Angeles, advising clients on socially-relevant infrastructure project investment in exchange of reductions in income tax; the team is acting for the country's largest bank, Banco de Crédito del Perú (BCP), in this regard. Head of practice Gerardo Soto has deep expertise in regulatory and administrative law, with specialist industry knowledge in energy, telecommunications and transport infrastructure. Senior associate Michelle Aramburú is a name to note.

Practice head(s):

Gerardo Soto

Testimonials

Extensive knowledge of professional practice in the field. The support received has been clear, timely, efficient and effective.’

Quick service, trust, complete availability. I have had the opportunity to work directly with Carlos Baldeón.’

Attorneys respond to enquiries quickly and in a timely manner. They deliver all orders on time. All the writings written by the lawyers are very well written, we are very satisfied with their service.

The lawyers have a high degree of knowledge in their area of ​​expertise.’

Excellent team, with a lot of experience in regulatory matters, especially in the port and transport sector. They have very good availability and are always on top of matters (monitoring and coordination for example) which is highly valued by our company.’

Gerardo Soto is a lawyer with a lot of experience in complex regulatory matters, highly recommended in the regulatory practice of the port sector and in matters related to regulators. He is a partner who is 100% present in the matter, which is the most important thing and what differentiates the firm from others.’

They have extensive and in-depth knowledge of energy sector regulation, which allows them to have a broad vision of the business in which our company invests. In addition, given the portfolio of projects that the Peruvian state promotes through Proinversion, knowledge of public law is essential, which the Payet, Rey, Cauvi, Perez Abogados law firm handles very well and better than other law firms.’

Their technical knowledge coupled with a great capacity for individual and team response. Unlike some competitors, the speed and strategic vision of the professionals of this law firm makes the difference.’

Key clients

América Móvil

Transportadora Callao

Cosco Shipping Ports (Terminal Portuario Chancay)

APM Terminals Callao (Callao Port – Northern Piers)

Banco de Crédito del Perú

Sura – AFP Integra

Prima AFP

Conelsur LT

Enel Generación

Limgas Natural del Perú (Grupo Lipigas)

Omnia Médica

Asociación de Bancos del Perú

Quicorp

Hayduk

Hitachi ABB Power Grids

Work highlights

  • Day-to-day regulatory advice provided to Inca Rail on regulatory and administrative matters before public entities such as the Ministry of Transport and Communications, regulator (OSITRAN) and other local authorities, including advice on the impact of the State of Emergency due to COVID-19.
  • Day-to-day counsel on regulatory matters to América Móvil, the second largest telecom conglomerate in the country, including advice on administrative sanctioning proceedings initiated by regulator OSIPTEL.
  • Comprehensive legal and project management advice to Banco de Crédito del Perú (BCP) regarding a slate of high-performance schools and other projects executed through the works-for-taxes mechanism.

Energy and natural resources > Mining Tier 3

Payet, Rey, Cauvi, Pérez Abogados has a strong track record of corporate transactions in the mining sector, but it is on the financing side that it shines. The firm typically acts for lenders in high-value and strategically key financings for major mining companies, recently acting for Banco de Crédito del Perú, Banco BBVA Perú and Itaú as lead arrangers on the refinancing of a 2016, $275m loan facility granted to Compañía de Minas Buenaventura. Corporate and finance partner José Cúneo has a specialist focus on mining and environmental areas and leads a team of four that includes experienced counsel Angel Chavez.

Practice head(s):

José Cúneo

Key clients

Scotiabank Perú

Banco de Crédito del Perú

Banco BBVA Perú

Itaú

Gold Fields La Cima

Nexa Resources Peru

Work highlights

  • Advised Banco de Crédito del Perú, Banco BBVA Perú, and Banco Itaú as lead arrangers on the refinancing of a 2016 $275m loan facility granted to Minas Buenaventura by extending current maturities at a reduced rate of interest, while improving other loan-related financial conditions.
  • Advice to a syndicate of banks for a transitional agreement for the issuance by a group of entities of guarantee letters in favour of the Peruvian Tax Administration (SUNAT) and for the benefit of Compañía de Minas Buenaventura for a sum of up to P$2.15bn.
  • Representing Gold Fields La Cima, a subsidiary of Gold Fields, on the extension until 2021 of the $150m senior, secured, revolving-credit facility obtained in 2017 from Banco de Crédito del Perú and Scotiabank Perú.

Peru > Environment Tier 3

Payet, Rey, Cauvi, Pérez Abogados is able to service its considerable firm-wide client base with effective environmental know-how, providing corporate support, and regulatory and contentious advice where needed. A niche focus is advising financial institutions on the social and environmental risks of financial and stock market operations. Counsel Vanessa Chávarry leads the advisory practice, which includes conflict prevention and management and the defence of administrative, civil and criminal proceedings and complaints. The team earned a number of new clients during the year, such as ABB Perú and Terminales Portuarios Chancay.

Practice head(s):

José Cúneo; Vanessa Chávarry

Testimonials

The lawyers in this specific environmental area are well versed in the matter and we have managed to get several environmental studies approved thanks to their accurate advice.’

Vanessa Chávarry is very accurate in the consultations that are made and always aims to win. Alfredo Chang is very competitive when consulted on a specific corporate issue.’

‘It is a very cohesive team, both legal and technical, that is very involved in the entire process, from beginning to end. In addition, it has the appropriate contacts and know-how to handle administration matters.’

High knowledge, not only of the legal part, but also of the technical, which helps to understand the process and to be able to find the most convenient solution in each case. Vanessa Chavarri stands out.’

The regulatory world in environmental matters requires highly-specialised lawyers not only in legal matters but also in technical knowledge. The environmental area of ​​the Payet law firm has lawyers who combine both aspects, which makes them – in my opinion – complete to advise on these matters.’

Vanessa Chávarry knows the regulations and has a lot of experience in the sector. She offers quality advice, is creative and has a lot of empathy with the client. She also has 24/7 availability.’

Key clients

Vale Exploration Perú

Concar and group companies

T-Solar Group

Hortifrut

Environmental Resources Management (ERM Perú)

ABB Perú

Terminales Portuarios Chancay

Cerámica Lima and related companies

Sigma Alimentos

Work highlights

  • Acted for consultants Environmental Resources Management (ERM Perú)  in advising their clients on the evaluation of applicable permits for the construction of a maritime port and providing legal support for an environmental audit for a mining operation.
  • Advising Terminales Portuarios Chancay on the environmental impact assessment procedure initiated before the Agency of Environmental Certification for the approval of the environmental certification required for the construction of Chancay Port.
  • Advising Hortifrut on the environmental and water regulations and applicable permits required for the operation of new properties and agricultural lands in Peru.

Peru > Labour and employment Tier 4

Payet, Rey, Cauvi, Pérez Abogados has, once again, partner-level leadership in this area following the promotion of Cristina Oviedo in January 2021. The full-time labour law specialist leads a sizeable associate bench of nine, including the experienced Brian Ávalos, whose practice includes pension law. The young but effective team handles the full remit of labour law matters, from judicial disputes through to payroll reviews by the Tax Authority. Recent work includes steering some significant companies through Covid-19 labour regulations, including Minera Chinalco Peru and Grupo Expertia. Since publication, Ávalos has been raised to the partnership - effective January 2022.

Practice head(s):

Cristina Oviedo

Testimonials

A solid team, with experience and extensive knowledge of labour regulations and their practical application in business development. The service received is very satisfactory and surpasses even some previous experiences.’

Speed, wide knowledge of the norm and the local reality oriented to the labour practice. I have been advised by Cristina Oviedo, Shirley Quino and Martin Ruggiero.’

Advice is complete and analysed from different perspectives of law. They are reliable in their answers, which are always based on legal argument together with a lot of experience in similar cases or with knowledge of recent jurisprudence.’

The firm is one of the best, the consultations are attended very well and the availability of lawyers is very good.’

Strengths are their kindness, judgment, availability and empathy.’

Labour law attorneys are always available to support us in our consultations. They have a lot of knowledge and experience in advising on processes before SUNAFIL and very good handling of labour processes/demands. Their strongest points are deep knowledge of labour regulations and excellent disposition towards the client.’

All the lawyers in the area are very proactive and empathetic with the client. I work especially with Dante Botton and Shirley Quino, who are excellent attorneys, always available and provide accurate information.’

Key clients

Inca Rail

Atracciones Coney Island (Coney Park)

Grupo Expertia

Unique  (Yanbal International)

Thomson Reuters Peru

Minera Chinalco Peru

ABB

Hitachi ABB Power Grids Peru

Vale Exploration Peru

CRP Medios y Entretenimiento

Work highlights

  • Advised Grupo Expertia on general labour issues, including advice regarding Covid-19 regulations.
  • Advised Unique (Yanbal International) on general labour issues, with a special emphasis on union issues and labour-related judicial and administrative proceedings.
  • Acted for Minera Chinalco Peru on labour matters related to Covid-19, as well as social security, judicial and administrative proceedings.

Peru > Real estate Tier 4

While not a core area of practice at Payet, Rey, Cauvi, Pérez Abogados, the firm nonetheless has skill in property matters, particularly due diligence, and real estate financing and transactions. The versatile Alfredo Chan primarily advises on real estate investments, financings, property acquisition and construction contracts, alongside his M&A and arbitration practices, bringing those skills to the team. A handful of supporting associates include seniors Roberto Gutierrez, who advises on regulatory issues within real estate, and multi-focused Guillermo Arribas. Fibre-Prime is a key client.

Practice head(s):

Alfredo Chan; Giovanna García

Testimonials

We have discussed all our assignments with Guillermo Arribas, and the truth is that he has always helped us a lot in analysing the issues, not only from a legal perspective, but also from a business and commercial strategy perspective.’

Guillermo Arribas stands out for his experience in the market, his knowledge of the rules and the business, and his soft skills.’

It is a team with a very good disposition and availability, and promptly meets our requirements. Good command of the legal processes involved in real estate management.’

High speed of response; fluent communication; accurate conduct of legal processes.’

We consider that the teamwork at Payet, Rey, Cauvi, Perez is one of the most solid when compared to other legal firms. The lawyers always know everything about our cases and are attentive to our requirements.’

Everyone in the firm is characterised by their values ​​in professional ethics. We work mainly with partner Juan Jose Cauvi who has never stopped giving us reasonable and correct advice. He has a clear handling of the laws and their interpretation.’

Guillermo Arribas is an outstanding associate who has given us a lot of confidence and support with various contingencies that arose during the Covid-19 pandemic. He is very meticulous, successful, has a lot of initiative and a sense of practicality.

Key clients

Multifoods

Fibre–PRIME

Afinmuebles / Talbot Hotels

Work highlights

  • Conducted a due diligence review on behalf of Fibre–PRIME and advised on the acquisition of a 59,943m² of industrial property located close to a nature reserve in Lima.
  • Advised Afinmuebles / Talbot Hotels on the sale and purchase agreement of an office tower within the business centre developed by Afinmuebles in the San Isidro district.
  • Conducted a due diligence review on behalf of Fibre–PRIME and advised on the acquisition of 24,500m²of industrial property located in Villa el Salvador.

Peru > Tax Tier 4

Payet, Rey, Cauvi, Pérez Abogados has a capable tax team under the leadership of Vanessa Watanabe, who is growing in expertise and market profile. The team excels in advising on the tax aspects of complex and cross-border transactions, the core area of focus of the practice, although judicial and administrative dispute work is also undertaken, such as the practice's recent representation of Scotiabank in judicial proceedings concerning a disputed VAT payment. Associates to mention include Ivy García-Pacheco and Lisset López, who both have broad business tax experience.

Practice head(s):

Vanessa Watanabe

Testimonials

Strong points are the working proximity with the client, and the quick response to the queries made.’

‘I think the ability to anticipate problems, review the entire case to see all the angles, are the strengths. Alfredo Chan, Lissette Lopez and Vanessa Chavarry stand out.

Highlights: the response time that allows you to make quick decisions; accuracy in the answers and recommendations; interrelation between its different areas in such a way that the client is informed how an opinion, for example of a corporate nature, influences the tax part. Compared with other firms, it is favourable.

The collaboration, the very good predisposition they have to help you with questions and the time of their responses are strengths. The lawyer I always consult with on the tax-side is Vanessa Watanabe.’

Key clients

Administradora Prime

Carlyle Group

Banco de Crédito del Perú

Scotiabank Perú

Savia Perú

Hortifrut

Kallpa Generation

Inversiones Centenario

ABB

Enfoca Sociedad

Work highlights

  • Advised InRetail Perú Corp on the acquisition of 100% of Makro Supermayorista, which operates a cash-and-carry wholesaler supplying food and non-food products to industry clients as well as individual customers through its 16 stores in Peru.
  • Advised Banco de Crédito del Perú, as issuer, in connection with the tax implications on the redemption of $850m of previous issued bonds.
  • Acted for Scotiabank on a constitutional defence suit (amparo) asking the judiciary to invalidate a Tax Court Resolution that confirms SUNAT’s resolution which assessed Scotiabank with a tax debt of $170m resulting from a supposed omission of a VAT payment.

Founded in 1996, today Payet, Rey, Cauvi, Pérez Abogados is regarded as one of the most important law firms in the country, with significant experience and a proven track-record in providing services of the highest added value in the various areas of the law related to corporate activity.

Areas of practice
Corporate/M&A: the practice covers a broad range of topics from incorporation procedures to corporate restructuring and market exit, including corporate transactions and contracts in general, and commercial legislation, among others. The firm’s frequent participation in acquisitions and transactions provides it with the knowledge and experience necessary to provide the best and most innovative advice.

Capital markets and finance: the firm counsels institutional lenders and investors, borrowers and financial institutions in matters related to corporate finance. Its experience includes the design and listing of public equity and debt offerings, takeover bids, exchange offers, securitizations, investment funds and other innovative financial instruments. Of particular importance is the firm’s vast experience in international offerings, in which it has interacted with leading firms, auditors and investment banks internationally.

Corporate and commercial litigation: the firm regularly represents foreign and local clients in civil, commercial, corporate and regulatory disputes. In recent years it has represented clients in important local corporate and shareholder litigations. The firm’s commercial experience covers leading cases related to business recovery, insolvency, insurance and reinsurance, contract enforcement, civil liability and torts.

Competition/regulation: the firm represents clients in a broad array of corporate transactions concerning horizontal restraints, monopolization, tying, exclusive dealing, refusals to deal and numerous vertical arrangements. Its experience also involves price-fixing, exclusionary practices and merger control procedures, as well as a wide array of trade regulation, unfair competition, intellectual property, product liability and consumer protection matters. The firm’s practice covers a broad array of regulated industries. Its energy practice represents some of the country’s most important electricity generation, transmission and distribution companies, as well as other participants in the electricity and gas markets. The firm’s communications practice counsels in all procedural aspects related to the granting of licences, concessions and authorizations, negotiating and drafting interconnection agreements and implementing regulated price structures.

Projects: the firm has extensive experience in the design and execution of non-recourse or limited recourse project financing structures. The firm’s experience includes counseling developers, sponsors and lenders to important projects in the infrastructure sector in Peru, including advising in all negotiations and procedures needed to obtain the necessary governmental concessions, permits and authorizations.

Tax: the tax practice is mainly focused on tax planning and consulting, special tax audit assignments and representation before tax and customs authorities. The department has particularly relevant expertise in M&A transactions, regularly counseling on the most suitable and business-oriented tax schemes to successfully structure and implement these types of transactions. The firm also has important experience providing advice on, and enforcing, tax benefits applicable to investors and to the recipient companies of such investments.

Labor: the labor practice encompasses advice related to personnel hiring plans, including nationals and expatriates, preparation and drafting of management compensation and welfare benefits programs, as well as implementing labor cost reduction strategies.

DepartmentNameEmailTelephone
Partners José Antonio Payet E: jap@prcp.com.pe
Partners Alonso Rey E: arb@prcp.com.pe
Partners Juan José Cauvi E: jjc@prcp.com.pe
Corporate and M&A José Antonio Payet
Corporate and M&A Susan Castillo
Corporate and M&A Giovanna Garcia
Banking, finance and capital markets José Antonio Payet
Banking, finance and capital markets Eduardo Vega
Banking, finance and capital markets José Cúneo
Projects and infrastructure Alonso Rey
Projects and infrastructure Juan Antonio Egüez
Projects and infrastructure Giovanna Garcia
Dispute resolution (litigation and arbitration) Julio César Pérez
White-collar crime José Caro John
White-collar crime Juan Diego Ugaz
Competition and antitrust Carlos A Patrón
Administrative Gerardo Soto
Labor and employment Alonso Rey
Tax Vanessa Watanabe
Mining José Cúneo
Mining Ángel Chávez
Environmental José Cúneo
Environmental Vanessa Chávarry
Arbitration Mario Reggiardo
Other fee-earners : 97
Partners : 17