Morgan & Morgan > Panama, Panama > Firm Profile

Morgan & Morgan

Panama > Capital markets Tier 1

With ‘extensive knowledge‘ of capital markets matters, Morgan & Morgan is experienced in public and private offerings, including cross-border mandates. The team acts for both local and international issuers and underwriters, counting major banks and financial institutions, public entities and private corporations among its clients, and has notable expertise in advising investment funds, particularly real estate investment trusts (REITs). It is also experienced in regulatory matters. Francisco Arias, who has a strong client base of banks and financial institutions, leads the practice with Ricardo Arias, a specialist in the establishment and registration of investment funds and REITs. The team also includes Roberto Vidal, who is experienced in high-yield debt and equity securities offerings, Kharla Aizpurúa and Aristides Anguizola.

Practice head(s):

Francisco Arias; Ricardo Arias


‘The lawyers have extensive knowledge of this field of law and of the regulatory body, which makes their advice more effective.’

‘The team has the ability and agility to work with the regulatory agencies. Their relationship with the regulators is superior to other firms with which we have worked.’

‘Lawyers from different practices work together on a matter, providing the client with various different perspectives.’

‘A team with real knowledge and experience and with good advisers.’

Key clients

Banco General


Banco La Hipotecaria

Cirsa Gaming Corporation

CM Realty (Cochez y Cia.)

Corporación Finanzas del País (PANACREDIT)

Credit Suisse

Deutsche Bank

Merrill Lynch

MMG Bank Corporation

Morgan Stanley & Co.


The AES Corporation

Empresa Nacional de Energía

Hidroeléctrica Bajos del Totuma

Grupo Mercantil

Avianca Holdings


Inmobiliaria Nidaco

Premium Properties International

Los Castillos Real Estate (Do It Center)

Global Bank Corporation

Urban Development Group

Panasolar Generation

Inmobiliaria Panama Car Rental

Panama Norte School

Phoenix Real Estate Fund

Corporación de Crédito

Sustainable Urban Revitalization Fund

Work highlights

  • Advised a syndicate of banks co-led by Scotiabank and Canaccord Genuity, and also including Stifel Nicolaus Canada and Red Cloud Securities, on a private offering of subscription receipts for $83m by Caldas Gold, a Canadian mining company with subsidiaries in Panama and elsewhere.
  • Acted as Panamanian counsel to First Quantum Minerals in its Rule 144A/Regulation S offering of $1.5bn of 6.875% senior notes due 2027.
  • Advised Banistmo on the issuance and placement of $400m of senior secured notes issued through a special trust vehicle created by Empresa Nacional de Autopistas (ENA) to raise the funds to refinance certain obligations of ENA Sur and ENA Este, which own the concession rights on toll roads known as “Corredor Sur” and “Corredor Este”.

Panama > Corporate and M&A Tier 1

Morgan & Morgan has a broad corporate practice, spanning both domestic and cross-border M&A, joint ventures, restructuring and corporate governance, and is particularly noted for its advice to multinationals on the establishment of headquarters in Panama. Its diverse client base includes banks and financial institutions and companies from the real estate, transport, energy, and food and beverages sectors, among others. In addition, the firm has launched a new practice focused on advising start-ups on developing their businesses, led by Kharla Aizpurúa and international associate Miguel Arias, and offers pro bono services as a member of the Pro Bono Declaration of the Americas. The experienced Francisco Arias leads the team, which also includes Inocencio Galindo, who brings additional banking, mining and tax expertise to the team, Roberto Vidal and Ramón Varela.

Practice head(s):

Francisco Arias

Key clients


Constructora Urbana (Cusa)

Electron Investment

Unity Group

The International Business Machines Corporation (IBM)

Grupo Eleta

Continental Grain Company

Marsh Semusa

Corporacion Interamericana para el Financiamiento de Infraestructura (CIFI)

Minera Panamá

Panama Ports Company (Hutchinson Ports Holding)

Inter-American Development Bank (IDB)

Gaming & Services de Panama

The AES Corporation

AON Benfied Mexico Intermediario de Seguros

Empresas Vicsons

Cirsa Gaming Corporation

Lombard Odier

Banco Davivienda

Grupo Mercantil


EFG Capital

HGroup Capital

China Telecom Americas

Galores Refrigerados

Work highlights

  • Advised health technology platform Farmalisto on the $18m equity investment made by HBM Healthcare Investments (Cayman), Inter-American Investment Corporation, Morgan Rio Capital Management, and other minority investors.
  • Advised Continental Grain Company on an investment in Multifoods, a leading Peru-based contract-manufacturing firm.
  • Advised the shareholders of Unity Group, a holding company with subsidiaries engaged in insurance brokerage in Central America, on its corporate restructuring and the subsequent sale of its business to Willis Europe, a subsidiary of Willis Towers Watson.

Panama > Dispute resolution Tier 1

Morgan & Morgan‘s ‘robust‘ team has a broad dispute resolution practice spanning civil, constitutional, administrative and commercial disputes, with particularly notable expertise in insolvency litigation, acting for both debtors and creditors. The team handles both litigation and an increasing amount of domestic and international arbitration, with a diverse client base which includes major local banks, mining and maritime companies and multinationals from the insurance, construction and financial services sectors. In addition, the firm has a strong criminal litigation practice, led by Omar Rodríguez, which specialises in white-collar crime cases. At the head of the team, Jose Carrizo has wide-ranging experience in litigation and arbitration, including large insolvency and asset recovery cases, and Luis Vallarino has expertise in government contract and regulatory disputes, among other areas. Senior associate Mayte Sánchez Gonzalez  stands out for her expertise in arbitration, particularly in disputes over infrastructure projects, as well as in corporate and commercial litigation. Since publication, Sánchez has been raised to the partnership - effective as of January 2022.

Practice head(s):

Jose Carrizo; Luis Vallarino


‘Morgan & Morgan’s litigation and arbitration team is distinguished by its commitment to its client. They are a team of robust professionals with vast experience, who understand and identify with the needs of their clients to provide efficient and reliable results.’

‘Above all, I want to highlight the commitment and loyalty of Omar Rodriguez, Mayte Sanchez and Joy Torres.’

‘The Morgan & Morgan arbitration team is always one step ahead, evaluating all the options and alternatives in a given situation. In our experience, they have very good internal coordination and work together both within the team and with the client.’

‘Jose Carrizo has in-depth knowledge in arbitration and litigation and all the experience required to increase our chances of success.’

‘It is important to have a team that empathises with the client and dedicates its best efforts to defending their interests. It is also valuable for the client to be able to obtain an immediate response to any concerns that arise within the process and not fall into uncertainty. In our experience, the Morgan & Morgan team meets these expectations.’

‘Omar Rodriguez and Mayte Sanchez are experienced in court procedures. They are accessible and respond in a timely and empathetic manner to clients’ concerns about the process, which generates trust. They set themselves apart through the quality time that they dedicate to their cases and the synergy that they achieve with clients’ in-house teams in order to obtain positive results.’

Panama > Labour Tier 1

Morgan & Morgan advises on a wide range of contentious and non-contentious employment matters, including assisting with the labour aspects of corporate restructurings and M&A transactions, the hiring and termination of employees, the negotiation of collective bargaining agreements, employment litigation, and the creation of internal employment policies and disciplinary procedures. The team's impressive client base is made up of local and multinational companies from a variety of sectors, among them energy, insurance, financial services, real estate and logistics. At the head of the practice, Ricardo Aleman and Maria Teresa Mendoza are experienced in advising on employment contracts and termination agreements, collective bargaining negotiations and litigation. In addition, Albalira Montúfar leads the immigration practice and senior associate Milagros Caballero focuses on assisting international clients with the employment issues surrounding setting up their headquarters in Panama.

Practice head(s):

Ricardo Aleman; Maria Teresa Mendoza

Key clients

Assa Compañía de Seguros

Panama Ports Company (member of Hutchinson Ports Holdings)


Michael Page

Desarrollo Buenaventura

Bank of China

Estée Lauder

Dolce Gabanna

Louis Vuitton

Water P. Moore




Banco Davivienda

Minera Panamá (subsidiary of First Quantum Minerals)



Grupo Roble

Delivery Hero (Pedidos Ya)

Work highlights

  • Advising First Transit de Panama, which provides management services to Transporte Masivo de Panamá, the concessionaire for the operation of Panama’s Metrobus system, on the hiring of foreign employees, designing compensation packages and compliance with labour legislation.

Panama > Offshore Tier 1

Morgan & Morgan has continued to expand its offshore practice, advising high-net-worth clients on the structuring of private funds and related mandates. In addition, it has formed an alliance with MASCO Multiple Accounting Services Corporation to provide clients with accounting services, and founded Panama Compliance Services to assist with due diligence. The firm’s additional offices in the British Virgin Islands, Belize and the Bahamas allow it to provide corporate and fiduciary services in multiple key jurisdictions. The sizeable team is led by Roberto Lewis, who has significant expertise in advising on wealth preservation and distribution for Central and South American clients. Other notable team members include Raúl Castro, an expert in tax, corporate and estate planning; Luis Manzanares, who specialises in multi-jurisdictional structures; and associates Nestor Broce and Laura Barrios, who has notable tax expertise and heads a new department advising family offices on Bahamian SMART funds.

Practice head(s):

Roberto Lewis Morgan


‘Roberto Lewis stands out for his availability, responsiveness and promptness.’

‘We have dealt with the firm on tax-related topics and they have always shown a great breadth of knowledge, giving the client confidence in their opinions and advice.’

‘Laura Barrios has provided fast and reliable responses to our queries, understanding the importance of the matters and promptly clarifying any doubts.’

Key clients

Mistui Soko

Mitsubishi Logistics Corporation

Shutts & Bowen

Greenburg & Traurig

Carrillo & Asociados

Consortium Law

Dentons Cardenas & Cardenas

Baker & McKenzie

Fair Wind Secretarial Services

Oficina Bisonó

Panama > Tax Tier 1

Highlighted for its ‘technical knowledge, experience and reputation‘, Morgan & Morgan has a wide-ranging tax practice, advising on the tax aspects of M&A, joint ventures and projects, as well as on tax compliance and litigation before the courts and the Panamanian Tax Authority. It has particular strength in corporate tax, advising on both national and international tax planning, transfer pricing and special tax regimes available to multinationals operating in Panama. In addition, the team assists private clients with tax compliance and residency issues. Practice head Inocencio Galindo has extensive expertise in tax structuring and corporate tax compliance. Senior associate Amanda Barraza, who has ‘a lot of experience in Panamanian and international taxation‘, is also a key contact. Since publication, fellow senior Fanny Evans, who focuses on wealth planning and corporate services, has been raised to the partnership - effective January 2022.

Practice head(s):

Inocencio Galindo


‘Amanda Barraza has a lot of experience in Panamanian and international taxation. This allows for a fluid discussion of the problems and a more expeditious analysis of the solutions to the different questions that arise.’

‘The team stands out for its organisation and depth of knowledge, as well as its quick and correct responses to our queries.’

‘They are excellent lawyers, with great knowledge and experience, who are always available to help’

‘What sets the firm apart is its technical knowledge, experience and reputation.’

‘They provide an excellent service and demonstrate an extraordinary understanding of the country’s tax legislation.’

‘They provide an excellent and very personalised service to clients.’

Key clients

First Transit de Panama

Work highlights

  • Advising First Transit de Panama, which provides management services to Transporte Masivo de Panamá, the concessionaire of Panama’s Metrobus system, on its applications for Double Taxation Treaty benefits and tax rebates from the Tax Authority, as well as on general tax matters.

Panama > Transport: Shipping Tier 1

Morgan & Morgan‘s broad maritime practice spans shipping registration, financing and litigation matters, with clients including financial institutions, ship owners and agents, and port operators. The team is highly active in the registration of Panamanian flag vessels with the Panama Maritime Authority and also handles a wide range of maritime disputes, including litigation relating to collisions, cargo, oil spill pollution, charter party disputes and insurance claims. Juan David Morgan Jr leads the shipping and admiralty litigation practice, while Jazmina Rovi heads the ship finance and registration team. Other notable contacts include Francisco Linares, Luis Raven and associate Diego Abadia, all of whom have extensive experience in maritime disputes.

Practice head(s):

Juan David Morgan Jr.; Jazmina Rovi

Key clients

AES Panama


Caterpillar Financial Services Corporation

HMM (formerly known as Hyundai Merchant Marine)

KN Trading

Mitsubishi Logistics Corporation


Panama Ports Company

SK Shipping

Pan Ocean

Polaris Shipping

Tri Marine Group

Tsakos Energy Navigation

Forever Oceans Corporation

Assa Compañia de Seguros

British Marine P&I Club


Melones Oil Terminal

Panama Ports Company

The Britannia Steamship Insurance Association

The Steamship Mutual Underwriting Association

UK P&I Club

Tokyo Marine & Nichido Fire Insurance

North of England P&I Club

Maersk Line

The American P&I Club

The West of England Ship Owners Mutual Insurance Association


World Fuel Services Corporation

Panama > Banking and finance Tier 2

Morgan & Morgan acts for both lenders, including major foreign and domestic banks, and borrowers, advising on a wide range of financial matters. Among the areas of strength for the ‘excellent‘ team are project finance, particularly in relation to energy, mining and infrastructure projects, syndicated lending, banking sector M&A, and regulatory matters. It has additional expertise in insolvency and restructuring, areas which have been particularly active during the pandemic. Inocencio Galindo leads the team, which also includes the ‘committed‘ and ‘accessibleKharla Aizpurua Olmos, who stands out for her strength in domestic and cross-border transactions, Francisco Arias, who has expertise in structured finance and regulatory matters, and project finance specialist Ramón Varela. Senior associate Ana Carolina Castillo is also noted.

Practice head(s):

Inocencio Galindo


‘The firm is one of the largest (if not the largest in the country), which gives them a wide capacity. They have a presence in multiple jurisdictions and a wide international network, which facilitates the management of international business. It is a very old firm that has participated in iconic transactions in the country, which allows its partners to have a great experience in matters related to our practice.’

‘The size of the firm makes it possible to find specialists in all areas. Its lawyers are very active socially and politically, which means that their clients have a lot of accessibility to key people and institutions required for our management. The international coverage of the firm also allows for international transactions with end-to-end support.’

‘The Morgan & Morgan team gets involved in all aspects of the matter and they provide an excellent service, no matter what time it is or how long it takes. They have in-depth knowledge and advise us well on minimising risk. They are truly an example to follow. They are always accessible and we always feel very well attended to when we require it.’

‘Kharla Aizpurua understands the business, and is committed, accessible 24/7, enthusiastic and always comes up with a solution to our problems.’

‘This practice provides a thorough, efficient and personal service to its clients. Their focus is on the best outcome for the client.’

‘The team stands out for its agility and commitment to the client.’

‘They have excellent teams and when we need support from more than department, they have known how to work together to achieve optimal results.’

Key clients


Banco General


Caterpillar Financial Services Corporation (CAT)


Corporacion Andina de Fomento (CAF)

Credit Suisse

MMG Bank Corporation

Global Bank Corporation


Bank of China

International Finance Corporation (IFC)

Empresa Nacional de Autopistas (ENA)

BBP Bank


Banco Mercantil

ITAU Corpbank

Work highlights

  • Acted as Panamanian counsel to Itaú Corpbanca and other lenders on loans to Organización Decameron and Hoteles Decameron for the refinancing of the group’s debt.
  • Advised Avianca Holdings on a debtor-in-possession financing structure of over $2bn, pursuant to its reorganisation plan under Chapter 11 of the United States Bankruptcy Code.
  • Advised Banistmo on a loan agreement of up to $315.6m for the financing of the acquisitions of CDNOs related to Line 2 of Panama City’s metro system.

Panama > Projects and energy Tier 2

Morgan & Morgan counts government entities, major domestic and international financial institutions, multilateral development agencies and investment banks among its clients, and has extensive experience in advising on the financing and construction of large-scale infrastructure projects, including transportation, mining and renewable energy developments. In addition, the firm advises on public tenders and government concession contracts. Practice head Ramón Varela specialises in advising on the financing and development of energy projects, including renewable projects, in addition to handling M&A and regulatory issues in the energy sector. Other key contacts include Inocencio Galindo and Kharla Aizpurúa, who have considerable expertise in project finance, Aristides Anguizola, who is particularly experienced in mine development and finance, and senior associate Ana Carolina Castillo, who specialises in financial and corporate transactions and regulatory matters in the energy sector.

Practice head(s):

Ramón Varela


‘Good knowledge of issues in the country and good coordination with the client.’

Key clients


IDB Invest

Seven Seas Water Corporation

PNE Wind

Ministry of Public Works of Panama


Mitsubishi Corporation


Minera Panama

First Quantum Minerals

Metro de Panama

First Transit de Panama

Panama Ports (subsidiary of Hutchinson Ports Holdings)

The AES Corporation

International Finance Corporation (IFC)

Corporación Interamericana para el Financiamiento de Infraestructura (CIFI)

Work highlights

  • Advising the International Finance Corporation on several issues arising from the $300m financing of the second phase of the Penonomé wind power project.
  • Advising Minera Panamá on several matters arising from its $6.7bn cooper-mine project.
  • Advised Seven Seas Water on its acquisition of the indirect holder of the concession to operate the Laguna Alta Water Treatment Plant.

Panama > Intellectual property Tier 3

The ‘extremely responsive‘ team at Morgan & Morgan has a strong international client base, advising companies from the luxury goods, food and beverages, and automotive sectors, among others. The team assists with trade mark and patent prosecutions in Panama and other jurisdictions, as well as customs and counterfeiting issues, the IP aspects of M&A transactions and franchise agreements, and IP litigation. Associate Allen Candanedo  is particularly experienced in contentious IP matters, acting in opposition, cancellation and nullity actions, and handling anti-counterfeiting litigation. Fellow associate Maria Eugenia Brenes focuses on the management of clients’ IP portfolios in Panama and health registrations.

Practice head(s):

Francisco Arias


‘They dedicate themselves body and soul to the client.’

‘Allen Candanedo has deep knowledge of the intellectual property area, responds immediately to requests and is always willing to assist his clients. He is effective in solving problems.’

‘The Morgan & Morgan team are extremely responsive and are always alert to the needs of their clients, offering thoughtful and practical advice. It is a pleasure to work with them.’

‘Allen Candanedo is always willing to answer any questions we may have and to consider options, showing flexibility according to the different budgets of each client.’

Key clients

Louis Vuitton Malletier

The Clorox Company

LVMH Group (Celine, Givenchy, Loewe, Marc Jacobs, Kenzo, Emilio Pucci)

Agencias Escoffery



Grupo Omnilife

Televisora Nacional

Casa Bruja


Work highlights

  • Advising Agencias Escoffery on various IP matters.

Founded in 1923, Morgan & Morgan is a full-service Panamanian law firm, regularly assisting local and foreign clients from different industries, including recognised financial institutions, government agencies and individual clients. In particular, the firm has been involved in all stages of the development of mega projects relating to energy, water supply, construction, oil, mining, public infrastructure, retail, ports, transportation, among others.

Recent cases: Advising Minera Panama in connection with a US$6.7bn copper mining project, the biggest private sector investment in Panama’s history.

Advising Metro de Panama, in connection with matters relating to the development of lines one and two of Panama City’s metro, the most important public infrastructure project under development in the Republic of Panama.

Advising Banistmo Investment Corporation, S.A. as holder of local collateral of several energy projects and the most recent being the Gas Natural Atlantico, S. de R.L. and Costa Norte LNG Terminal S. de R.L. LNG project, which is an approximately US$600m financing.

Advising IFC who are currently advising Empresa de Transmisión Eléctrica, S.A. (ETESA) in the development and bidding of a project for the engineering design, procurement, construction, operation and maintenance of the fourth transmission line in Panama.

Advising Avianca Holdings, S.A. in connection to a over US$ 2bn debtor-in-possession financing structure pursuant to its reorganization plan under Chapter 11 of the United States Bankruptcy Code.

Advising Banistmo, S.A., in an up to US$315.6m loan agreement for the financing of the acquisitions of CDNOs relating to Line 2 of Panama´s City’s metro system.

Advising Farmalisto, a health technology platform with presence in Mexico, Colombia, and Peru, with respect to the US$18m equity investment made by HBM Healthcare Investments (Cayman) Ltd., Inter-American Investment Corporation, Morgan Rio Capital Management, and other minority investors.

Advising the shareholders of Unity Group in a corporate restructuring and subsequent sale of its business to Willis Europe B.V.

Antitrust and consumer protection Carlos E. Gonzalez
Banking and finance Inocencio
Criminal law Omar
Energy and natural resources Ramon
Government procurement and contracts Carlos E. Gonzalez
Immigration Albalira
Insurance and reinsurance Carlos E. Gonzalez
Intellectual property Francisco
Estate Planning and Corporate Services Roberto
Labor Ricardo
Litigation and dispute resolution Jose
Mergers and acquisitions Francisco
Mining Inocencio
Projects Ramon
Real estate Francisco
Securities/capital markets Francisco
Shipping and admiralty litigation Juan David Morgan
Ship finance/registration Jazmina
Taxation Inocencio
Litigation and Dispute Resolution Luis
Technology and Data Protection Inocencio
RICARDO ALEMAN  photo RICARDO ALEMAN Ricardo Aleman is a Partner at Morgan & Morgan and focuses his…
FERNANDO ALFARO  photo FERNANDO ALFARO Fernando Alfaro is a Partner at Morgan & Morgan and currently serves…
RICARDO ARIAS  photo RICARDO ARIAS   Ricardo Arias is a Partner in the corporate law department and…
RODRIGO ARIAS  photo RODRIGO ARIAS Rodrigo Ernesto Arias Valderrama holds a degree in Law and Political Science,…
FRANCISCO ARIAS  photo FRANCISCO ARIAS Francisco Arias a Partner in the corporate law department and heads the…
Diego Abadia photo Diego AbadiaAssociate at Morgan & Morgan and currently serves in the Shipping and Admiralty…
Kharla Aizpurua Olmos  photo Kharla Aizpurua Olmos Partner
Aristides Anguizola photo Aristides AnguizolaPartner
Miguel Arias M.  photo Miguel Arias M. International Associate
FERNANDO BOYD  photo FERNANDO BOYD Fernando Boyd is a Partner at Morgan & Morgan and works in…
Amanda Barraza  photo Amanda Barraza Senior Associate
Laura Barrios photo Laura BarriosSenior Associate Laura Barrios works in the Estate Planning and Corporate Services…
Maria Eugenia Brenes  photo Maria Eugenia Brenes Senior Associate
Nestor Broce photo Nestor BroceSenior Associate
JOSE CARRIZO  photo JOSE CARRIZO Jose Carrizo is a Partner and heads the Litigation and Dispute Resolution…
RAUL CASTRO  photo RAUL CASTRO Raul Castro de la Guardia is a Partner and co-heads the Estate…
Milagros Caballero  photo Milagros Caballero Associate
Allen Candanedo  photo Allen Candanedo Associate
Ana Carolina Castillo  photo Ana Carolina Castillo Senior Associate
Alejandro Chevalier  photo Alejandro Chevalier Associate.
Maria Eugenia Crespo  photo Maria Eugenia Crespo Associate
ENRIQUE DE ALBA  photo ENRIQUE DE ALBA Enrique De Alba is Of Counsel in the Ship Finance & Registration…
Fanny Evans  photo Fanny Evans Partner
INOCENCIO GALINDO  photo INOCENCIO GALINDO Inocencio Galindo is a Partner in the Corporate Law Department of Morgan…
Carlos Ernesto González Ramírez  photo Carlos Ernesto González Ramírez Carlos Ernesto González Ramírez is a Partner at Morgan & Morgan and…
LUIS MIGUEL HINCAPIE  photo LUIS MIGUEL HINCAPIE Luis Miguel Hincapie is a partner at Morgan & Morgan. He advises…
FRANCISCO LINARES  photo FRANCISCO LINARES Francisco Linares is a Partner at Morgan & Morgan and currently serves…
Roberto Lewis  photo Roberto Lewis Roberto Lewis Morgan is currently a Partner in Morgan & Morgan and…
LUIS MANZANARES  photo LUIS MANZANARES Luis Manzanares is a Partner at Morgan & Morgan and heads the…
MARIA TERESA MENDOZA  photo MARIA TERESA MENDOZA Maria Teresa Mendoza is a Partner at Morgan & Morgan and co-heads…
ALBALIRA MONTUFAR  photo ALBALIRA MONTUFAR Albalira Montufar is a Partner at Morgan & Morgan and Heads the…
JUAN DAVID MORGAN G.  photo JUAN DAVID MORGAN G. Juan David Morgan G. joined Morgan & Morgan is Senior Partner.  He…
JUAN DAVID MORGAN JR.  photo JUAN DAVID MORGAN JR. Juan David Morgan Jr. is a Partner at Morgan & Morgan and…
Alexis Medina  photo Alexis Medina Senior Associate
Gisselle Moncada  photo Gisselle Moncada Senior Associate
Rishi Mungal  photo Rishi Mungal Associate
Naim Musa  photo Naim Musa Associate
Rodolfo Palma  photo Rodolfo Palma Associate
JAZMINA ROVI  photo JAZMINA ROVI Jazmina Rovi is currently a Partner of Morgan & Morgan and head…
Luis Raven  photo Luis Raven Partner
Jorge Luis Reyes  photo Jorge Luis Reyes Jorge Luis Reyes is currently a Partner at Morgan & Morgan and…
Omar Rodriguez  photo Omar Rodriguez Partner
Romulo Roux  photo Romulo Roux Romulo Roux is currently a Partner and heads the Corporate Law practice…
Mayte Sanchez Gonzalez  photo Mayte Sanchez Gonzalez Partner
MARIO TEJEIRA  photo MARIO TEJEIRA Mario Tejeira is currently a Partner at Morgan & Morgan.   Mr. Tejeira…
Simon Tejeira Q.  photo Simon Tejeira Q. Simon Tejeira Q. is a Partner at Morgan & Morgan since 1971.…
Alvaro Tomas  photo Alvaro Tomas Partner
LUIS VALLARINO  photo LUIS VALLARINO Luis Vallarino is a Partner and co-head in the Litigation and Dispute…
Ramon Varela  photo Ramon Varela Ramon Varela is a Partner and heads the Energy and Projects practices of…
Roberto Vidal photo Roberto VidalPartner
Total staff : 700
World Services Group (WSG)
ALFA International
INTA - International Trademark Association
IBA (International Bar Association)
Employment Law Alliance (ELA)
AmCham American Chamber of Commerce
Society of Trust & Estate Practitioners (STEP)
Partners : 41

Morgan & Morgan Legal advised Generadora de Gatun, S.A., and AES Panama in connection with the financing of a new natural gas-fired power plant

Panama, March 23, 2022. Morgan & Morgan Legal acted as Panamanian counsel to Generadora de Gatun, S.A., as borrower, and AES Panama, in the senior and mezzanine financing for the development, design, engineer, procurement, construction, commissioning, testing, start-up, operation, and maintenance of an approximately 670-megawatt combined-cycle natural gas-fired power plant, together with all interconnections and certain associated infrastructure, to be located on Telfers Island, province of Colon, Republic of Panama.

Morgan & Morgan Legal advised Farmalisto in the acquisition of GoFarma.

Panama, March 30, 2022. Morgan & Morgan Legal acted as Panamanian counsel to Farmalisto in the purchase of 100% of the Mexican pharmacy GoFarma. With this acquisition, the company advances its expansion process in the Mexican market and Latin America. Currently, Farmalisto has a presence in Colombia, Chile, Peru, and Mexico. In this country, it arrived in 2014, where it has established itself as one of the most important players in the pharmaceutical market.

Morgan & Morgan Legal advised Banco General, S.A., and Banistmo, S.A. in connection with the public offering and issuance by Fountain Hydro Power Corp. of corporate bonds for an amount of up to US$110 million

Panama, March 31, 2022. Morgan & Morgan Legal advised Banco General, S.A., and Banistmo, S.A., as arrangers and underwriters in connection with the public offering and issuance by Fountain Hydro Power Corp. of corporate bonds for an amount of up to US$110 million registered with the Superintendency of Capital Markets of Panama and successfully placed through the Latin American Stock Exchange.

Morgan & Morgan Legal advised Orla Mining Ltd. and Minera Cerro Quema, S.A. in connection with a secured credit facility for an amount of up to US$150 million.

Morgan & Morgan Legal advised Orla Mining Ltd., as borrower and Minera Cerro Quema, S.A., as guarantor with respect to a secured credit facility of US$150 million (the “Credit Facility”). The Credit Facility includes a US$100 million term facility and a US$50 million revolving facility through a syndicate of lenders composed of The Bank of Nova Scotia, Bank of Montreal, and Canadian Imperial Bank of Commerce. The proceeds from the Credit Facility were used to repay the existing project finance facility, with the balance of the revolving facility available for general corporate purposes and working capital.

Morgan & Morgan Legal advised Avianca Holdings, S.A. and its subsidiaries, in connection with its financial and corporate restructuring process, implemented to emerge from Chapter 11 proceedings in the United States of America.

Morgan & Morgan Legal acted as Panamanian counsel to Avianca Holdings, S.A. (“Avianca”) and its subsidiaries, in connection with its financial and corporate restructuring process, implemented to emerge from Chapter 11 proceedings in the United States of America, after having filed for bankruptcy protection in U.S. Courts back in May 2020. Avianca’s emergence from Chapter 11 involved the offering of Senior Note Indentures which resulted in over US$1,700,000,000.00 in new investments used to reduce debt and obtain liquidity, as well as a profound overhaul and reorganization of its corporate structure.

Morgan & Morgan Legal advised Supermercados Xtra, S.A. in connection with the offering and issuance of corporate bonds for an amount of up to US$100 million.

Morgan & Morgan Legal advised Supermercados Xtra, S.A., one of the leading supermarket chains in Panama (the “Issuer”), in the amendment to certain terms and conditions of the Issuer’s US$250,000,000 public bond issuance registered with the Superintendency of Capital Markets of Panama in order for the Issuer to offer and issue three (3) series of bonds for an aggregate of US$100,000,000, which were successfully placed through the Latin American Stock Exchange. The funds received by the Issuer as a result of the issuance of the three (3) series of bonds will be used by the Issuer for acquisitions and other corporate purposes.

Morgan & Morgan Legal advised in the reacquisition and purchase of the majority stake of Supermercados Xtra, S.A.

Morgan & Morgan Legal acted as legal counsel of Supermercados Xtra, S.A. (“XTRA”) and Grupo Harari, in the reacquisition by XTRA and the purchase by Grupo Harari of the shares owned by Souq Investments LP, equivalent to 53% of the issued and outstanding shares of XTRA, resulting in Grupo Harari becoming the sole shareholder of XTRA.

Morgan & Morgan Legal advised Seven Seas Water and a group of its subsidiaries, in a US$205 million financing, which would be used to refinance a US$163 million credit facility obtained by the company.

Morgan & Morgan Legal represented Seven Seas Water (“Seven Seas”) and a group of its subsidiaries, in a US$205,000,000.00 financing with Deutsche Bank AG and Investec Bank, PLC, as lenders, which would be used to refinance a credit facility obtained by Seven Seas in June 2020, for US$163,000,000.00. Seven Seas is a portfolio of desalination and water supply projects in Latin America and the Caribbean, managed by Morgan Stanley Infrastructure Partners. Seven Seas is, among other things, owner of Aguas de Panamá, S.A., a company that holds a 30-year concession for the design, construction, operation, and maintenance of a potable water plant located at Laguna Alta in Arraiján, Panama.

Morgan & Morgan Legal advised Mercandú, a startup based in El Salvador, in designing the corporate structure and Seed investment round of US$1,500,000.00 with which it launched its e-commerce website and mobile app that operates a regional digital marketplace offering door to door delivery of over 150,000 products.

Morgan & Morgan Legal acted as Panamanian counsel to Mercandú, a startup based in El Salvador, in designing the corporate structure and Seed investment round of US$1,500,000.00 with which it launched its e-commerce website and mobile app that operates a regional digital marketplace offering door to door delivery of over 150,000 products such as: Technology, Home, Vitamins, Makeup, Pets, among others. Mercandú currently operates in 14 states of El Salvador and intends to initiate operations in other countries of the region starting in 2022, and has more than 20,000 users, more than 60,000 monthly visits, and a 50% recurrence in orders, all of this accompanied by a 20% month-to-month growth in sales and orders in 2021. 

Morgan & Morgan Legal advised Global Climate Partnership Fund S.A., SICAV-SIF in connection with an unsecured facility agreement

Morgan Legal acted as special Panamanian counsel to Global Climate Partnership Fund S.A., SICAV-SIF (GCPF) in connection with an unsecured facility agreement, dated as of September 24, 2021, by and among Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI), as borrower, CIFI LATAM, S.A. and CIFI PANAMÁ, S.A., as co-obligors (the “Co-obligors” and together with CIFI, the “Obligors”), and GCPF, as lender.

Morgan & Morgan Legal advised Cirsa Enterprises S.L.U in connection with the offering of secured notes for an amount of up to €615,000,000

Morgan & Morgan Legal acted as counsel to Cirsa Enterprises S.L.U. in connection with the offering of €615,000,000 aggregate principal amount of 4.500% Secured Notes due 2027, issued by Cirsa Finance International S.à.r.l., and to be guaranteed by the Cirsa Enterprises S.L.U. and, among others, Gaming & Services de Panama, S.A.

Morgan & Morgan Legal advised Banistmo S.A., as facilities agent and administrative agent, in a multimillionaire financing agreement related to Line 3 of Panama´s City Metro System, one of the largest public infrastructure projects in Panama.

Morgan & Morgan Legal acted as Panamanian counsel to Banistmo S.A. in its role as agent of the three facility agreements.

Morgan & Morgan Legal advised Galores Group in the sale of its cold storage business to Emergent LatAm.

Morgan & Morgan Legal advised the shareholders of the companies Galores Refrigerados S.A., Galores Logística S.A., and Avner Perry Investments, S.A. (the “Galores Group”), in connection with the sale of Galores Group to Emergent Cold Latin America (“Emergent LatAm”), Latin America’s newest temperature-controlled warehousing and logistics provider.

Morgan & Morgan Legal advised Avianca Holdings, S.A. and its subsidiaries, in connection with a US$ 1.5 billion DIP-to-exit facility which would secure the company’s exit financing from its Chapter 11 reorganization proceeding under the U.S. Bankruptcy Code.

Morgan & Morgan Legal acted as Panamanian counsel to Avianca Holdings, S.A., as Debtor; and certain of its subsidiaries, as Guarantors, in connection with a DIP-to-exit facility used to repay Tranche A of US$ approximately 1,430,000,000.00, under a certain debtor-in-possession agreement executed on October, 2020, and its replacement with a new Tranche A-1 for US$ 1,050,000,000.00 and Tranche A-2 for  US$ 550,000,000.00, which would secure the company’s exit financing from its Chapter 11 reorganization proceeding in the United States of America.

Mayte Sanchez Gonzalez included in the List of Arbitrators of the Center for Arbitration and Conciliation of Panama (CeCAP)

The Center for Arbitration and Conciliation of Panama (CeCAP) approved Ms. Mayte Sanchez Gonzalez, senior associate of Morgan & Morgan Legal, on the list of authorized Arbitrators to act in arbitration, conciliation, and mediation processes carried out by this Institution for the period August 2021-August 2023.

Morgan & Morgan appoints Mr. Alejandro E. Chevalier to its Litigation and Dispute Resolution practice.

Morgan & Morgan is pleased to announce the recent hiring of Mr. Alejandro E. Chevalier, as associate in the Litigation and Dispute Resolution team of the firm.

Morgan & Morgan´s NGO (Fundamorgan) celebrates its twentieth-anniversary.

The Foundation was established to honor the memory of Eduardo Morgan Alvarez (1902-1988), founder of Morgan & Morgan, a self-taught lawyer by vocation who dedicated his life to the successful exercise of the law, to procure an equal access to justice and to serve his country.

Morgan & Morgan advised Banco Davivienda Salvadoreño, S.A. in a US$39.5 million financing

Morgan & Morgan advised Banco Davivienda Salvadoreño, S.A. in a US$39.5 million financing to companies that are part of the Premium Restaurant Brands group.