Moreno Baldivieso Estudio De Abogados > La Paz, Bolivia > Firm Profile

Moreno Baldivieso Estudio De Abogados

Bolivia > Banking and finance Tier 1

Regularly engaged in some of the most important banking, finance and insurance-related transactions in the Bolivian market, Moreno Baldivieso Estudio De Abogados fields a comprehensive banking practice that covers securitisation of assets, bond issuances and complex loan agreements. IDB Invest was a notable addition to the firm’s ever-growing roster of international banking clients in 2021, and the team also has a diverse range of clients on the borrower side for major projects. Senior partner Ramiro Moreno is a close advisor to a number of domestic banks with whom he has developed strong relationships over decades in the field. He co-leads the department with transactional expert Andrés Moreno, and up-and-coming partner René Claure. Teddy Mercado was raised to the partnership in February 2022 and regularly advises multilateral financial organisations, banks, investment and hedge funds on sophisticated finance transactions. Pamela Muñoz is a contact to note from the firm’s pool of multidisciplinary associates.

Practice head(s):

Ramiro Moreno; Andres Moreno; Rene Claure

Key clients

CAF Development Bank of Latin America

Deutsche Bank

IDB Invest

American Express

Credit Suisse

China Development Bank


Western Union

Banco do Brasil Sucursal Bolivia

Standard Chartered Bank

Work highlights

  • Acted for CAF Development Bank of Latin America in its $27m revolving credit facility with Banco Union.
  • Advised IDB Invest on a $6.12m revolving credit facility with Tienda Amiga.
  • Acted for Credit Suisse in structuring security repurchase transactions with three local banks and one multilateral banking entity worth $35m in aggregate.

Bolivia > Corporate and M&A Tier 1

2021 saw a considerable rebound for M&A activity in Bolivia and Moreno Baldivieso Estudio De Abogados was at the forefront of the legal market’s support to clients, acting in a host of high-end transactions for both new and long-term clients. A multi-faceted matter of note has seen practice co-head Andrés Moreno and 2022 partner appointment Teddy Mercado leading advice to Claure Group on the construction of a new football stadium and training facilities for Club Bolivar in La Paz, which has included incorporating two separate corporate vehicles in the form of LLCs. Andrés Moreno has over 15 years’ experience in corporate law and the structuring of international transactions, while Mercado is an emerging name in the market, with a particular knowledge of the mining sector. Luis Moreno combines corporate, financial and tax law expertise in co-leading the practice, and senior partner Ramiro Moreno rounds out the leadership team. René Cuellar‘s broad practice covers construction, public contracting, international transactions and insurance; and senior associate Fernando Landa focuses on transactional law, private equity and finance, as well as contentious matters. At the associate level, Pamela Muñoz and Jose María Navarro have the heaviest involvement in this practice area.

Practice head(s):

Ramiro Moreno; Andrés Moreno; Luis Moreno

Key clients


The Walt Disney Company

CAF – Latin American Development Bank

Claure Group

Siemens AG

Drogueria Inti

Total Energies



Work highlights

  • Advising Claure Group on the construction of a new football stadium and state of the art training facilities for Club Bolivar, including incorporating two separate corporate vehicles in the form of LLCs.
  • Advised Vinci Group on a multi-jurisdiction M&A transaction involving acquiring the industrial services and energy division of Spanish construction company ACS.
  • Acted for Trivest Partners in its acquisition of Bolivian fintech company Nearshore Code.

Bolivia > Dispute resolution Tier 1

Moreno Baldivieso Estudio De Abogados remains a go-to firm in Bolivia’s international arbitration scene, present and consistent across various sectors and a leader in investor-state arbitration. In that respect, it has acted as co-counsel to Zurich Insurance Company in its UNCITRAL investor-state arbitration against the Bolivian State with insurance and reinsurance being a particularly strong field for the practice in recent years. A senior leadership team is comprised of Andrés Moreno, an international and domestic arbitration expert; Delfor Zapata, who heads up the domestic litigation side of the practice and has strengths in tax and labour disputes; and experienced corporate lawyer and arbitrator Ramiro Moreno. René Claure is a further key contact in international arbitration and labour law disputes, while contentious matters in the mining and banking sectors are the forte of Daniel Arredondo. Teddy Mercado is another arbitration expert and was raised to the partnership in January 2022. A strong pool of associates assist on the range of matters; Pamela Muñoz , Jose María Navarro  and Fernanda Veremeenco  are among the most active.

Practice head(s):

Ramiro Moreno; Andrés Moreno; Delfor Zapata

Key clients

Zurich Insurance Company

Air BP

Munich RE AON

Archer Daniel Midland


Nacional Seguros


Lloyds of London


Sysde International

Work highlights

  • Acting as co-counsel to Zurich Insurance Company in its UNCITRAL investor-state arbitration against the Bolivian State.
  • Representing Spanish multinational Idom in its ICC Arbitration for damages against Bolivia´s state-controlled oil and gas corporation YPFB, regarding a contract suspension.
  • Acting for Munich Re in a $23m domestic collection action against Electroingeniería.

Bolivia > Energy and natural resources Tier 1

Moreno Baldivieso Estudio De Abogados continues to be one of the go-to firms for the major players in Bolivia’s broad and nationally significant energy and natural resources landscape. Its 2021 highlights included construction and development of cement factory, geothermic plant and lithium extraction projects, but the team is also well-versed in the transactional side of the market. The breadth of the practice is boosted by its presence across the country with the firm’s offices in La Paz, Santa Cruz, Cochabamba and Tarija offering clients local counsel. In La Paz, Andrés Moreno has a corporate law focus in energy and mining matters; he co-leads the practice with senior M&A and arbitration expert Ramiro Moreno and Santa Cruz-based Luis Moreno, another key figure in the domestic law market for mining and energy projects. René Cuellar is also regularly counsel on engineering and construction projects, and Daniel Arredondo is noted for his knowledge of mining and electricity matters. Teddy Mercado is also partner regularly involved in the energy and mining practice, while at the associate level, Mirko Olmos and Santiago Gantier  are the names to note.

Practice head(s):

Ramiro Moreno; Andrés Moreno; Luis Moreno

Key clients

Sacyr Industrial

Lilac Solutions

Siemens Energy

Phillips 66

Total Energies

Halliburton Latin America


National Oil Well Varco

Votorantim Metais


Work highlights

  • Acted for Sacyr Industrial in the maintenance of a cement factory in Oruro, and the construction of a cement factory in Potosi, worth a combined $530m.
  • Advising Lilac Solutions throughout the private tender process for pilot testing of lithium extracting technology in the Bolivian Uyuni Salt Flats.
  • Acting for Vestas in the construction of three Eolic Parks that will generate 108MW of energy for the cities of Warnes, Montero and Santa Cruz.

Bolivia > Intellectual property Tier 1

Moreno Baldivieso Estudio De Abogados maintains the market-leading intellectual property practice, the department remaining a cornerstone of the firm that has developed into the country's largest full-service firm since it's founding as an IP boutique in 1931. The team acts for local and international clients alike and provides specialist support across the spectrum of intellectual property requirements; trademark attorneys handling search and registration; patent agents advise on applications and enforcement; and IP specialists assisting with other services from licensing agreements and copyright protection, to all manner of contract drafting and negotiations. Senior partner and former Supreme Court judge Ramiro Moreno specialises in trademarks and patents, co-leading the practice with Rodrigo Moreno, who is responsible for the day-to-day management of all business matters in the IP department. Ronald Lazarte is the name to note for contentious matters, while Ronald Cortez  is a key advisor and developer of the firm's in-house software for the management of trademarks. Comprehensive associate-level support comes from Gonzalo Iturry , Shirley López  and Adriana Guzmán . Drogueria INTI, Sedgwick Claims Management, Tigo Bolivia

Practice head(s):

Ramiro Moreno; Rodrigo Moreno

Key clients


Skoda Investment

Bayer Aktiengesellschaft/ Monsanto Technology

Baker & McKenzie

Industrias Vendado

Drogueria Inti

Sedgwick Claims Management Services

Juul Labs

Tigo Bolivia – Telefónica Celular de Bolivia

GNC Holdings

Work highlights

  • Acted for Gloria in filing an infringement action against a company regarding the trademark CALIFORNIA.
  • Assisted Telecel Bolivia with a broad due diligence of its complete IP portfolio.
  • Assisted Bayer Aktiengesellschaft, Bayer Cropscience Aktiengesellschaft and Monsanto Technology with a review of 44 patent applications, following the merger of Bayer and Monsanto.

Bolivia > Labour and employment Tier 1

Moreno Baldivieso Estudio De Abogados stands out in Bolivia’s labour law market through its consolidated nation-wide team, with attorneys on the ground in four different cities (La Paz, Santa Cruz, Cochabamba and Tarija). Alongside a client base of multinationals typical of the firm, the practice is also labour and employment counsel to a number of embassies and consulates. Among its recent work highlights, the team has acted for Pedidos Ya in the complex, contentious and nationally significant matter of its labour relations with its delivery personnel. René Claure, a specialist in labour, insurance and arbitration, co-heads the practice with Paul Aramayo, whose 21 years of experience cover labour litigation in both administrative and judicial venues, collective negotiations and strategic counsel. Delfor Zapata is an up-and-coming partner to note, while at the counsel level, Natalio Zegarra is heavily involved across all matters. Further support comes from experienced senior associate Fernando Sánchez Peña .

Practice head(s):

René Claure; Paul Aramayo

Key clients

Embassy of the United States of America

CAF – Latin American Development Bank

The Duty Communications Group

Order Now (Delivery Hero)

Simon I. Patiño Foundation

You are a drugstore



Phoenix Towers

World Vision Bolivia

Work highlights

  • Acting for the United States Embassy in Bolivia, in all its labour and social security related matters, including internal rules and regulations, hiring and dismissal of personnel, labour contracts, and employment related immunities.
  • Assisting Fundación Simón I. Patiño with a labour restructuring, which included termination and salaries reduction.
  • Advised Pedidos Ya on reducing the risk inherent to the labour relationships established with its delivery personnel.

Bolivia > Real estate Tier 1

Moreno Baldivieso Estudio De Abogados‘s strong offering in real estate has developed via its heavyweight corporate practice and supports its clients in market-leading property M&A and financing, while also having capabilities in real estate project development. René Cuellar is an up-and-coming figure in the country’s transactional law market and is rapidly gaining experience in the real estate arena. He co-leads the department alongside Luis Moreno, who from the firm’s Santa Cruz office has established strong relationships with prominent companies in real estate and retail. Delfor Zapata remains the firm’s main real estate expert, particularly on the contentious side, where he acts in disputes relating to land ownership, multi-party land disputes and possessory actions. Teddy Mercado is a further corporate partner contact working across real estate matters.

Practice head(s):

Rene Cuellar; Luis Moreno

Key clients

Claure Group

Red Bolivision

Phoenix Tower International

Drogueria Inti

Richline Group

Bisa Financial Group

Industrias Venado

Embassy of the United States of America

Compañía de Jesús


Work highlights

  • Acted for Claure Group in drafting, negotiating and executing all documents related to the engagement of Spanish architects L35 for the design of a stadium.
  • Advising Red Bolivision on the transfer of several real estate assets located in the cities of Cochabamba, Tarija and Oruro, as a result of a corporate restructuring.
  • Assisted Phoenix Tower International with transferring and registering ownership rights over 543 telecommunications towers acquired from Bolivian telecoms carrier, Nuevatel PCS.

Bolivia > Tax Tier 3

As a heavyweight in the corporate law market, Moreno Baldivieso Estudio De Abogados has long provided clients assistance on related tax matters, but the firm now fields a strong standalone tax department that acts in tax-led matters.

Practice head(s):

Delfor Zapata; Rodrigo Burgos

Key clients

Archer Daniel Midland (ADM)


Aesa Ratings

Walter Guerrero

Universidad Católica Boliviana “San Pablo”

Droguería Inti

Industrias Venado


Work highlights

  • Represented ADM in four judicial tax actions before the Bolivian court system for an aggregate amount of $4m, for alleged wrongfully accredited VAT and transactions tax for the years 2014, 2015, 2016 and 2017.
  • Acting for Altifibers in a transfer pricing analysis related to $15m intercompany loan structures.
  • Assisted Aesa Ratings with a transfer pricing analysis as a defence mechanism against a $2.5m tax infringement claim brought against the company by the Bolivian Tax Authority.

Founded in 1931, Moreno Baldivieso developed into a leading full-fledged corporate and commercial law firm in Bolivia. With offices in four of the nine most important cities in the country, the firm caters to domestic and foreign clients in most areas of law.

With a highly specialized team of 44 lawyers throughout the country, the firm serves as local counsel to the most important multinational corporations and international organizations such as the World Bank, International Development Fund (IDB), International Finance Corporation (IFC), United States Embassy and others.

Moreno Baldivieso is an internationally orientated law firm. Some of the firm’s members are admitted to practice law in more than one jurisdiction (Spain and Argentina) and most have obtained post-graduate education from some of the most prestigious universities in the world: Harvard Law School (US), Oxford University (UK), New York University (US), Sloan School of Management MIT (US), Yale School of Management (US), Instituto de Empresa IE (Spain), Universidad de Comillas ICADE (Spain), Universidad de Salamanca (Spain) and Universite Pantheon – Assas Paris II (France), to name a few.

Almost 80% of the firm’s portfolio is made up of international clients, and members of the team are fluent in Spanish, English, French, German, Portuguese and Mandarin.

Main areas of practice: Corporate/commercial; tax; oil and gas; telecommunications; arbitration (domestic and international); intellectual property; mining; antitrust; banking; finance; insurance; labor; real estate and administrative.

Corporate/commercial Ramiro Moreno B E:
Corporate/commercial Andres Moreno G E:
Intellectual property Ramiro Moreno B E:
Intellectual property Andres Moreno G E:
Natural resources (oil, gas and mining) Ramiro Moreno B E:
Natural resources (oil, gas and mining) Luis F. Moreno G E:
Labor Ramiro Moreno B E:
Labor Luis F. Moreno G E:
Arbitration (domestic and international) Ramiro Moreno B E:
Arbitration (domestic and international) Andres Moreno G E:
Associates : 35
Partners : 9