Mr Manuel Groenewold > White & Case S.C. > Mexico City, Mexico > Lawyer Profile

White & Case S.C.
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Work Department

Banking, Mergers & Acquisitions, Capital Markets




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Mexico > Banking and finance

White & Case S.C.’s ‘dedicated’ and ‘well-prepared’ team ensures its ‘availability’, brings to the table a ‘great relationship with regulators’ and provides ‘depth of analysis and focus on each deal’. Representing national and international clients on inbound and utbound matters, it frequently teams up with sector specialists from across the firm’s network as required. Recent mandates include advising: Inversionistas en Autotransportes Mexicanos (IAMSA) on a $91.7m refinancing granted by Banco Nacional de Comercio Exterior to affiliate Omniair, and involving several other parties as obligors and guarantors; chemical company CYDSA, as borrower, in a $160m term loan credit facility granted by Banco Mercantil del Norte and Banco Nacional de Comercio Exterior as lenders, and Banco Nacional de Obras y Servicios Públicos as lender and guaranty and administrative agent; and Banorte on the  aquisition-by-merger of Grupo Financiero Interacciones, a transaction valued at $1.4bn billion and including all the group’s banking, broker-dealer, insurance and asset manager subsidiaries. The practice also has a strong FinTech capabbility and advises clients such as PayPal. Highly-regarded practitioner Juan Antonio Martin co-leads the team with Vicente Corta; Francisco Garcia-Naranjo González, María Teresa Fernández Labardini, and Manuel Groenewold are also key lawyers, as is NYC-qualified Sean Goldstein -who shuttles between Meixco City and New York. The bench was further strengthened with the arrival of Arcelia Olea Leyva, previously General Counsel of the National Banking & Securities Commission (CNBV). Other clients include EDC, BBVA Bancomer, The Bank of Nova Scotia, PayJoy México, Afluenta, Credit Agricole, Morgan Stanley, Blackrock, and JP Morgan.

Mexico > Bankruptcy and restructuring

White & Case S.C.’s large team of 20 lawyers acts primarily on the side of banks and other financial institutions, and has a fine track record of participating in many of the largest bankruptcies and restructurings of the last decade in Mexico. For example, the team acted for state development bank, Banobras, in the bankruptcy proceedings for Abengoa México – one of the first court-assisted restructurings of an energy services company in Mexico; banks and export credit agency, Bancomext, in connection with all matters concernsing the bankruptcy proceeding of Desarrolladora Homex, one of the three largest developmers in Mexico; and it acted as receiver for Mexico’s Federal Deposit Insurance Agency (IPAB), in the first court-assisted liquidation of a bank –Banco Bicentenario– in Mexico. Vicente Corta leads the practie group, which also  includes bankruptcy litigation specialist Enrique Espejel; Álvaro Garza-Galván, who brings expertise in transactional, finance and regulatory work; and Maria Teresa Fernández-Labardini, who covers compliance; Manuel Groenewold and Juan Antonio Martin are other names to note. Clients include Barclays Bank, BBVA Bancomer, Capital I Reserva, Deutsche Bank, HSBC, Morgan Stanley, SAE, Santander and York Credit Opportunities Fund.

Mexico > Capital markets

The 25-strong team at White & Case S.C. handles a broad range of transaction types and regulatory mandates and has particular strength in debt operations; as part of a global firm, it also accesses considerable international work. Clients appreciate its ‘solidity’ and its ‘remarkable understanding of and networking with the regulatory authorities’. The practice continues to represent long-standing client, state-owned electricity company Comisión Federal de Electricidad (CFE), as Mexican and New York counsel with regard to the first publicly traded Fibra E (energy and infrastructure investment trust) focused on Mexico’s electricity transmission sector (alos the first publicly-traded company sponsored by CFE); advised Grupo Financiero Banorte on its $1.4bn acquisition, by way of a merger, of Grupo Financiero Interacciones, with payment in stock issues by the client combined with a cash component; and Scotiabank; Citibanamex, Santander, and Actinver as underwriters on a securitisation of Engencap Capital’s lease portfolios through a $504m issuance programme of trust debt certificates (certificados bursátiles fiduciarios). Juan Antonio Martin, Vicente Corta, and Manuel Groenewold  co-head the practice; relevant support comes from Carlos Mainero, Sergio Márquez, Eric Quiles, and Andrés Mosqueira. In a notable incorporation, Arcelia Olea Leyva joined the firm having previously been vice president of regulatory affairs at the Banking and Securities Commission (CNBV – Comisión Nacional Bancaria y de Valores). Other clients include BlackRock, BNP Paribas Personal Finance, BIVA, Casa de Bolsa BBVA Bancomer, Citigroup, Cydsa, Fin Útil, Fondo Especial para Financiamientos Agropecuarios, Goldman Sachs, Grupo Aeroportuario del Pacífico, JP Morgan, Morgan Stanley, SGFP México, Société Générale, HSBC, PayPal, and WhatsApp.