Morgan & Morgan > Panama, Panama > Firm Profile

Morgan & Morgan
MMG TOWER, 23RD FLOOR
AVE PASEO DEL MAR, COSTA DEL ESTE
PANAMA CITY
Panama

Panama > Capital markets Tier 1

Morgan & Morgan‘s capital markets practice is particularly distinguished by its expertise in the constitution of Panamanian real estate investment trusts (SIIs) and their registration with the securities regulator, and is lauded by clients as ‘the leading law firm in Panama‘ in this space. The team, which receives further praise for its ‘knowledge, experience and diligence‘, also handles a high volume of public bond offerings on the Latin American Stock Exchange (Latinex) – including transactions with an international component – as well as advising on private issuances. Francisco Arias, who is skilled in advising both issuers and underwriters on capital markets transactions and regulatory matters, leads the team alongside Ricardo Arias, a specialist in SIIs. At the partner level, Roberto Vidal and Ana Carolina Castillo (an expert in energy-related matters) also play a prominent role in the practice, while international associate Miguel Arias M is the name to note at the junior level.

Practice head(s):

Francisco Arias; Ricardo Arias

Testimonials

Morgan & Morgan advised us mainly on the subject of real estate investment trusts, and took us by the hand to help us become what we are today. The team is perhaps one of the main experts on the relevant procedures before the Superintendency of the Stock Market of Panama and the General Directorate of Revenue of Panama.

They surpass other firms on the subject of real estate investment trusts.

Morgan & Morgan is the leading law firm in Panama in the area of SIIs. Their advice to us exceeded our expectations and was key to our success.

The associates and partners at Morgan & Morgan get ahead of problems and propose practical solutions. They have extensive experience and can leverage various practice areas of the firm to address an issue.

Knowledge, experience and diligence. Very accessible. When points or potential issues are raised, they are very diligent in providing solutions and/or alternatives.

Key clients

Corporación Andina de Fomento (CAF)

Cochez y Cía

Mercantil Holding Financiero Internacional

Banco Nacional de Panama

Inmobiliaria Casas Grandes

Insignia Financial Group

Dream Properties

Grupo OTI (Fondo de Inversión Valle Lindo)

Grupo Roble

Desarrollo Inmobiliario del Este (Inversiones Bahía)

Universidad Francisco Marroquin

Banco Aliado

The Bank of Nova Scotia

Banco General

Banistmo

Banco Delta

Banco La Hipotecaria

Cirsa Gaming Corporation

CM Realty

Latin American Kraft Investments

Credit Suisse

Deutsche Bank

Merrill Lynch

MMG Bank

Morgan Stanley & Co

Global Bank Corporation

Sustainable Urban Revitalization Fund

Prima Sociedad de Inversión Inmobiliaria

MMG Fixed Income Fund

Supermercados Xtra

Work highlights

  • Advised Corporación Andina de Fomento (CAF) on the listing and placement through Latinex of a series of step-up fixed rate notes for an aggregate of $200m under the $30bn medium-term note programme.
  • Advised Cochez y Cía on the registration of revolving corporate bonds for an aggregate of $90m, under the abbreviated registration process for recurring registered issuers with the Superintendency of Capital Markets of Panama, in order for the issuer to publicly offer the bonds in multiple series.
  • Advised Mercantil Holding Financiero Internacional, an affiliate of Grupo Mercantil, on the registration of corporate bonds for an aggregate of $100m with the Superintendency of Capital Markets of Panama in order for the issuer to publicly offer the bonds in series.

Panama > Corporate and M&A Tier 1

Morgan & Morgan‘s corporate team attracts strong praise for its ‘knowledge of Panamanian law‘ and ‘professional way of handling any matter, even internationally‘, which is reflected in its robust experience in both domestic and cross-border M&A transactions. The firm also has an active practice advising multinationals across the full spectrum of industry segments (including telecoms, aviation, finance, e-commerce, technology and pharmaceuticals) on the establishment of their headquarters in Panama and regulatory and corporate issues affecting their day-to-day operations. Francisco Arias, whose expertise spans transactional and corporate governance issues, jointly leads the team with go-to M&A specialist Roberto Vidal, who is highlighted for his ‘great experience and knowledge of the corporate field‘. Also among the key names at the senior level are Inocencio Galindo, who has complementary finance and tax expertise; Carlos González, the head of the firm’s antitrust and consumer protection practice; and Aristides Anguizola, who has considerable strength in the mining and infrastructure sectors. They are ably supported by a strong line-up of junior lawyers, including international associate Miguel Arias M and senior associate Alejandro Vasquez, who joined the firm from Fabrega Molino in June 2022. The firm also has a robust pro bono practice, which includes providing training to non-governmental organisations in Panama.

Practice head(s):

Francisco Arias; Roberto Vidal

Testimonials

The team stands out for its knowledge of Panamanian law and its impact on other jurisdictions.

Roberto Vidal has great experience and knowledge of the corporate field.

The handling of its knowledge of the law and ability to provide advice to achieve the best possible outcome is something that makes this team special.

Management of information, knowledge, a professional way of handling any matter, even internationally.

Key clients

Delivery Hero Panama/PedidosYa

Mercantil Holding Financiero Internacional

Pandora

Tigo

Deetken Impact

Binance

Solusoft (Oracle)

Latam Digital Marketing (Google)

Highland Products – Lamastus Family Estate

NRG Plus

Renergia

3M

AES Panama

Agencias Celmar

AlphaCredit

AON Benfield Mexico Intermediario de Reaseguro

Avianca Holdings

Banco Davivienda

Banistmo

Bank of China

Bimbo de Panama

Bluefin Rental

Cacique WA Holdings

Casa Bruja

Caterpillar Crédito

China Mobile

China Telecom Americas

Cirsa Gaming Corporation

Cirsa Panama

Constructora Urbana (Cusa)

Corporacion Interamericana para el Financiamiento de Infraestructura (CIFI)

EFG Capital

Elecnor Panama

Electron Investment

Eli Lilly

Empresas Vicsons

Farmalisto

Finca Lerida

Compañía Azucarera La Estrella

Galores Refrigerados

Grupo Codere

Grupo Eleta

Grupo Provivienda

Work highlights

  • Advised Mercantil Holding Financiero Internacional and Mercantil Capital on the closing of the acquisition of Capital Bank to become a bank with almost $3bn in assets and $265m in net worth.
  • Advised Supermercados Xtra and Grupo Harari on the reacquisition by Xtra and the purchase by Grupo Harari of shares owned by Souq Investments equivalent to 53% of the issued and outstanding shares of Xtra.
  • Advised Farmalisto on the purchase of 100% of the Mexican pharmacy GoFarma to advance its expansion process in the Mexican market and Latin America.

Panama > Dispute resolution Tier 1

The ‘excellent‘ dispute resolution team at Morgan & Morgan attracts strong praise for its ‘in-depth local knowledge‘ and ‘superior‘ client service, with a broad practice encompassing civil, commercial, administrative and criminal litigation, as well as high-profile arbitration. The firm has a formidable record in cases before the Supreme Court, particularly contentious-administrative proceedings on behalf of major clients in the energy, mining, ports and telecoms industries, and has also seen a notable uptick in international commercial and investment arbitration mandates. Jose Carrizo, who has a wealth of experience across the full spectrum of commercial and corporate litigation, leads the practice with Luis Vallarino, a go-to specialist in disputes relating to government contracts and regulatory law. Other fixtures in the sizeable senior team are Omar Rodriguez, who heads the criminal law practice; Rodrigo Arias, a noted expert in debt recovery actions; and up-and-coming partner Mayte Sánchez González, whose wide-ranging expertise takes in commercial and corporate litigation, and local and international arbitration. The talented line-up of associates includes Orlando Tejeira, a key figure in disputes in the energy, mining, telecoms and ports sectors; Alejandro Chevalier, who is dual qualified in New York and Panama, and stands out for his strength in international arbitration; and David Ramos.

Practice head(s):

Jose Carrizo; Luis Vallarino

Testimonials

The service provided by the litigation team is far superior to others in the area – they not only provide legal advice but also assist in resolving the problem, providing the necessary support to achieve an effective and efficient solution.

Fast, efficient, always accessible.

The team are available most of the time and when they are not they will work hard to become available. They have good knowledge of the subject matter and are well connected in Panama. The price structure is similar to other law firms, but the quality of work at M&M is higher compared to the rest of the local firms.

They are down to earth and are open and honest in their advice. They do not try to find ways to increase billing. The individuals that I work the most with are Luis Vallarino and Mayte Sánchez.

Excellent team. Very efficient, a pleasure to work with and have in-depth local knowledge.

Jose Carrizo is a very experienced disputes partner who is able to offer practical and creative solutions in cross-border litigation with a Panamanian element. David Ramos is very efficient and hard-working and has a good understanding of the needs of international clients.

Stands out for its know-how and highly reputable firm name. Awareness of ethical issues, CSR and people management is better than others.

Panama > Labour Tier 1

Counting key local and international players from the retail, manufacturing, hospitality, technology and ports sectors among its clients, Morgan & Morgan houses a comprehensive labour practice, which ranges from advising on employment contracts and employee dismissals to assisting with collective bargaining negotiations with unions and labour litigation. The firm also has an active immigration practice group, which is overseen by Albalira Montúfar. Ricardo Alemán, who brings to bear four decades of experience in employment law, steers the team alongside Maria Teresa Mendoza, whose wide-ranging practice also takes in social security matters. Senior associate Milagros Caballero is a name to note for employment issues relating to establishing regional headquarters in Panama.

Practice head(s):

Ricardo Alemán; Maria Teresa Mendoza

Key clients

3M

Acino

Banco Davivienda

Bavarian Motors

Calox Panameña

Canon de Panama

Chanel Panama

Christian Dior

Clorox

Damco

Dolce & Gabbana

Esteé Lauder

Grainger

Marriott Hotels

Nikon Latin America

Nippon Express

Panama Ports Company (subsidiary of Hutchinson Ports Holding)

Philips

PriceSmart Panama

Ralph Lauren

Walter P Moore

Indra

Maersk

Minera Panamá (subsidiary of First Quantum Minerals)

DHL

Hitachi

Grupo Roble

Delivery Hero (Pedidos Ya)

Panama > Offshore Tier 1

Hailed by clients as ‘extremely robust and efficient‘, the fiduciary services unit at Morgan & Morgan advises family offices and HNWIs from around the world on the incorporation and administration of trusts, private interest foundations and corporations in Panama, the Bahamas, the BVI and Belize, in addition to offering corporate secretarial services. Raúl Castro, who is renowned for his advice to HNWIs on investment funds and tax affairs, took over the reins of the practice from Roberto Lewis in 2023; Lewis continues to bring his four decades of experience in wealth management in an of counsel role. Other key contacts at the senior level are Luis Manzanares (a specialist in BVI corporate law and non-traditional asset protection and tax compliance structures), Fernando Boyd (whose practice has an emphasis on advising South American clients) and former Deputy Minister of Foreign Affairs Luis Miguel Hincapie (who oversees the Belize office). Up-and-coming partners Fanny Evans, an expert in Caribbean jurisdictions, and the ‘brilliantLaura Barrios, who heads a newly formed department focused on Bahamian professional and SMART funds, are also names to note, alongside senior associates Nestor Broce and the recently promoted Raúl Bermúdez.

Practice head(s):

Raúl Castro

Testimonials

We receive a very personalised service from lawyers who know their trade and the applicable regulations, and have the right contacts to carry out the different procedures required, with a comprehensive service covering various areas of law.

Our main contacts are Raúl Castro and Laura Barrios, who have given us all the time and support that we have required with agility and attention to detail.

The M&M team is extremely robust and efficient. They are always at the forefront of matters.

Laura Barrios is a brilliant lawyer who is always willing to provide the best legal service.

Key clients

Mistui Soko

Mitsubishi Logistics Corporation

Shutts & Bowen

Baker Tilly

Carrillo & Asociados

Harper Meyer

Dentons Cardenas & Cardenas

Beccar Varela

Posadas & Vecinos

Merrill Lynch

Panama > Projects and energy Tier 1

Morgan & Morgan is hailed by clients for its ‘strong and well-coordinated team‘ in the energy and projects sphere, whose ‘diverse abilities‘ enable the firm to assist clients across the full spectrum of public procurement, permitting, financing and construction matters. The team is widely revered for its strength in the financing and development of significant infrastructure projects – its impressive recent record includes advising on the expansion of the Panama City metro system – but it is also highly experienced in energy projects, with an emphasis on the power industry. Its wide-ranging client base includes banks and multilaterals, public bodies and major developers. Ramon Varela, a go-to specialist in the energy sector, leads the team. Inocencio Galindo also brings his strong corporate and finance background to bear in the financing of public infrastructure projects, while Kharla Aizpurúa, Aristides Anguizola, who has notable expertise in the mining industry, and Ana Carolina Castillo, who was elevated to the partnership in January 2023, are also key members of the practice.

Practice head(s):

Ramon Varela

Testimonials

Their dedication and commitment to our company are unconditional. They compare favourably with any other firm and they have always gone above and beyond what we expect when working together. Dealing with the energy and projects team feels like working with family.

They have lawyers with diverse abilities in the team, which enriches the advisory experience. They are very well trained and always have the best interests of our company in mind.

It is a strong and well-coordinated team.

Excellent professional ethics.

Key clients

International Finance Corporation (IFC)

IDB Invest

Seven Seas Water Corporation

PNE Wind

Ministry of Public Works of Panama

Hitachi

Hitachi Rail

Mitsubishi Corporation

Elecnor

Minera Panama

First Quantum Minerals

Metro de Panama

First Transit de Panama

Panama Ports (subsidiary of Hutchinson Ports Holding)

The AES Corporation

Electron Investment

Avanzalia Panamá

Corporación Interamericana para el Financiamiento de Infraestructura

Ecosolar

Work highlights

  • Advising the International Finance Corporation, which is assisting Empresa de Transmisión Eléctrica (Etesa) with the development of a project for the design, construction and operation of the fourth electrical transmission line in Panama.
  • Advising longstanding client Minera Panamá on several matters arising from the $10bn Cobre Panamá copper mine project.
  • Advising Hitachi, Hitachi Rail and Mitsubishi Corporation on the negotiation of an agreement with Metro de Panamá in connection with their participation as nominated subcontractor in the project for the development of Line 3 of the Panama Metro.

Panama > Real estate Tier 1

Morgan & Morgan leverages its full-service model to advise an extensive roster of major real estate developers, investors and financial institutions on corporate, financial and regulatory matters in the real estate space, with notable recent experience in tourism-related projects. In addition to handling M&A and joint ventures, the firm routinely assists with the acquisition, sale and leasing of properties, permitting and environmental issues, and project finance. Another standout area of activity is the constitution and registration of SIIs, where Ricardo Arias, who co-heads the firm’s securities practice, has specialist expertise. The firm also fields a dedicated department focused on administrative issues such as the registration of mortgages. Francisco Arias, whose broad practice encompasses real estate-related corporate, financial and securities matters, leads the team. Experienced senior associate Giselle Moncada, who heads the firm’s office in David, Chiriquí, is also a key figure in the team.

Practice head(s):

Francisco Arias

Key clients

Constructora Urbana (Cusa)

Grupo Eleta

Grupo Verde Azul

Banco La Hipotecaria

Banvivienda

Desarrollo Bahia

Banistmo

Los Castillos Real Estate

Prima Sociedad Inversión Inmobiliaria

Inmobiliaria Casas Grandes

Dream Properties

Desarrollo Inmobiliario del Este

Commercial Center Developers

Work highlights

  • Advised Dream Properties, as sponsor, on the constitution and registration before the Superintendency of Capital Markets (SMV) of NF Real Estate Fund as a real estate investment trust (SII).
  • Advising Corporación Valle Lindo on the registration of its affiliate with the SMV as an SII.
  • Advising Inmobiliaria Casas Grandes on the registration of an affiliate with the SMV as an SII.

Panama > Tax Tier 1

Morgan & Morgan‘s tax practice is particularly skilled in assisting multinational companies with the special tax regimes available in Panama, in addition to domestic and international tax planning, transfer pricing and compliance matters. Another notable area of strength lies in advising clients in the real estate sector on the tax aspects of establishing real estate investment trusts (SIIs), benefitting from the wider firm’s expertise in this space. Practice head José Rafael Reyes handles the full spectrum of tax matters; both Reyes and senior associate Amanda Barraza can draw upon significant past experience with international accounting firms. Associate Angelica Ortiz provides capable support, particularly in matters relating to special tax regimes and Panamanian tax residency.

Practice head(s):

José Rafael Reyes

Key clients

Bayport Enterprises

Regency Real Estate Developers

Work highlights

  • Advising Bayport Enterprises in connection with the inclusion and listing of 13 subsidiaries as real estate investment trusts (SIIs), including an exhaustive analysis of the tax aspects.

Panama > Transport: Shipping Tier 1

Highlighted by clients as ‘prompt, responsive and cost-effective‘, Morgan & Morgan has a comprehensive shipping practice encompassing registration, finance and litigation matters. The team is equally adept at advising international financial institutions, ship owners and agents, and port operators on ship financing and registration, representing a large share of vessels flying the Panamanian flag. It is also highly active in disputes before Panama’s maritime courts, with particular prominence in claims against the Panama Canal Authority. The five-partner team is headed by Juan David Morgan Jr, who takes the lead in shipping and admiralty litigation, and Jazmina Rovi, who focuses on ship finance and registration. Francisco Linares, Luis Raven and Fernando Alfaro also bring extensive experience in maritime disputes. At the associate level, Andrés Mejía provides capable support in ship finance matters.

Practice head(s):

Juan David Morgan Jr; Jazmina Rovi

Testimonials

Prompt, responsive and cost-effective.

Jazmina Rovi stands out.

Key clients

AES Panama

ABN AMRO Bank

Caterpillar Financial Services Corporation

HMM

KN Trading

Mitsubishi Logistics Corporation

Mitsui-Soko

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

Mapfre

Melones Oil Terminal

Panama Ports Company

The Britannia Steamship Insurance Association

The Steamship Mutual Underwriting Association

UK P&I Club

Tokio 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

CMA-CGM

World Fuel Services Corporation

Korea Line Corporation

KSS Line

Panama > Banking and finance Tier 2

Winning high praise from clients for its ‘technical capacity‘ and ‘extensive knowledge‘, Morgan & Morgan fields a broad banking and finance practice, encompassing commercial loans, real estate finance, debt refinancing and financial regulatory issues. The firm has also established an active insolvency-related practice (following the introduction of new legislation in Panama) and has growing expertise in the fintech and start-ups space. The financing of high-profile infrastructure and energy projects is another core source of mandates. The team is headed by Kharla Aizpurúa, whose wide-ranging practice takes in syndicated loans, project finance and M&A in the banking sector, and the highly experienced Inocencio Galindo. Ramon Varela and Ana Carolina Castillo, who was promoted to partner in January 2023, are key names to note on the energy and project finance front, and the team also includes Francisco Arias, Roberto Vidal, international associate Miguel Arias M and senior associate Alejandro Vasquez, who joined from Fabrega Molino in June 2022.

Practice head(s):

Kharla Aizpurúa; Inocencio Galindo

Testimonials

Morgan & Morgan has built a great level of trust with our organisation as they support us with the advice that we require to ensure the business progresses in the right way and have assisted us in the most significant transactions that we have executed to date. They stand out for the professional and timely nature of their responses.

The team we have worked with has distinguished itself through its level of professionalism and technical capacity to meet our requirements. We have worked very closely with Roberto Vidal and Francisco Arias.

Morgan & Morgan’s extensive knowledge of the Panama Stock Exchange and the financial system, in addition to the particularities of trust and loan agreements, mean they are in a unique position to be able to represent us in the most favourable way in the structuring of different transactions and negotiations with financial institutions.

The team at Morgan & Morgan have positive attributes such as attention to detail when preparing and reviewing documents, and knowledge of complex financial structures and instruments that allow them to stand out among the different firms in the market. In particular, Ana Carolina Castillo stands out as she has extensive knowledge and experience both in the financial markets and regulations, and in the energy industry.

What sets the team apart is the quality of the lawyers, their experience and personalised service. Competitive and reasonable fees.

The team show empathy for their clients, kindness and genuine interest.

Key clients

Banistmo

Banco General

BBVA

Caterpillar Financial Services Corporation (CAT)

Citibank

Corporación Andina de Fomento (CAF)

Credit Suisse

MMG Bank Corporation

Global Bank Corporation

HSBC Bank USA

Empresa Nacional de Autopistas (ENA)

Bank of China

BBP Bank

International Finance Corporation (IFC)

Davivienda

Banco Mercantil

ITAU Corpbank

Avianca Holdings

Generadora de Gatun

Republic Bank Limited

The Bank of Nova Scotia (ScotiaBank)

Deetken Impact Sustainable Energy

Consorcio Transeq-Estrella

Waterfield Group

Cirsa

Banistmo Investment Corporation

Global Financial Funds

IDB Invest

Orla Mining – Cerro Quema

Alpha Credit

Minera Panama

AES Panama

Electron Investment

EcoSolar

Greenwood Energy Central America

Empresa Nacional de Energia

EFG Capital International

Lombard Odier & Cie.

Ingeniería Estrella

Transeq

Work highlights

  • Advising Generadora de Gatun and AES Panama on the collateral package related to the senior and mezzanine financing for the companies to develop, own and operate an approximately 670 MW combined cycle natural gas-fired power plant.
  • Advised Orla Mining, as borrower, and Minera Cerro Quema, as guarantor, with respect to a secured credit facility of $150m used to repay the existing project finance facility.
  • Advised MMG Bank, as lender, on a financing for Daconan Star Solar to be used for the expansion of the capacity of the 3.24 MW Daconan Solar photovoltaic project, located in the province of Veraguas.

Panama > Intellectual property Tier 3

Morgan & Morgan is noted for its robust experience in the registration of trade marks and management of portfolios in Panama and internationally, benefitting from close links to firms in other jurisdictions. It is also a strong performer in patent prosecutions and has recently been increasingly active on copyright mandates (particularly in the entertainment and software development sectors). In addition, the team frequently assists clients with regulatory issues, including health registrations, and with the IP aspects of M&A and franchising and distribution agreements. Francisco Arias steers the practice, while experienced associate Allan Candanedo is a go-to specialist in the full range of IP matters, from litigation to portfolio management and commercial agreements. Corporate associate María Eugenia Brenes brings additional IP and regulatory expertise to the team.

Practice head(s):

Francisco Arias

Key clients

Louis Vuitton Malletier

The Clorox Company

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

Energizer Holdings

Banistmo

Volkswagen

Sea Technology

Televisora Nacional

Hard Rock Hotels

KraftHeinz

Work highlights

  • Coordinating the trade mark search and application process for Sea Technology in several countries in Central and South America.
  • Assisting with the international IP protection of various retail brands, including the registration of RegattaSport.

With 100 years of an emblematic trajectory, Morgan & Morgan is a full-service Panamanian law firm, regularly assisting local and multinational corporations from different industries and recognized financial institutions, government agencies, and individual clients.

We have participated in most of the largest infrastructure projects in Panama, including all three existing lines of the Panama City Metro, the copper mining project Cobre Panama (the most significant private sector investment in Panamanian history), the Changuinola I hydroelectric power plant, the Gatun LNG power plant, and the development of the Penonomé Solar Project, the largest solar project in Central America.

With approximately 80 lawyers, Morgan & Morgan has the largest legal team in Panama, enabling us to provide our clients with legal services in a multidisciplinary and holistic manner. In addition, we are exclusive representatives in Panama of international networks, such as Terralex, ALFA International, World Services Group, and Employment Law Alliance. This allows us the capacity to advise clients globally in their most complex and multijurisdictional matters.

As a leading law firm in the market, the lawyers at Morgan & Morgan, the firm itself and our areas of practice are constantly top ranked in the most recognized international legal directories, such as Chambers & Partners, Legal 500, IFLR1000, and Who’s Who Legal. Moreover, our client centered advise has led us to adopt new technology trends, such as developing innovative LegalTech tools to support our clients’ business activities and the legal advice we provide for them.

In terms of ESG, the firm carries out numerous initiatives that respond to the international Sustainable Development Goals, set out by the United Nations, where we can achieve a more significant impact on our community and on our professional staff. We are a pioneer law firm in Panama on Pro Bono matters, D&I actions, and environmental initiatives.

Photo Name Position Profile
Kharla Aizpurua Olmos photo Ms Kharla Aizpurua Olmos Kharla Aizpurua Olmos is a Partner in the Corporate Law Department of…
Ricardo Aleman photo Mr Ricardo Aleman Ricardo Aleman is a Partner at Morgan & Morgan and focuses his…
Fernando Alfaro photo Mr Fernando Alfaro Fernando Alfaro is a Partner at Morgan & Morgan and currently works…
Aristides Anguizola photo Mr Aristides Anguizola Aristides Anguizola is a Partner at Morgan & Morgan and works in…
Ricardo Arias photo Ricardo Arias Ricardo Arias is currently an Partner at Morgan & Morgan and serves…
Rodrigo  Arias photo Rodrigo Arias Rodrigo Ernesto Arias Valderrama holds a degree in Law and Political Science,…
Francisco Arias photo Mr Francisco Arias Francisco Arias G. is currently a Partner at Morgan & Morgan and…
Miguel Arias M. photo Mr Miguel Arias M. International Associate.
Yaneth Barrera photo Ms Yaneth Barrera Yaneth Barrera is an associate and works in the Labor Law Department…
Laura Barrios photo Ms Laura Barrios Laura Barrios is a Partner at Morgan & Morgan and works in…
Ivania Barrios photo Ivania Barrios Ivania Barrios is an associate in the Litigation and Dispute Resolution Department…
Raul Bermudez photo Mr Raul Bermudez Raul Bermudez is a Senior Associate at Morgan & Morgan. Mr. Bermudez…
Anna Bernal photo Anna Bernal Anna Bernal Riley is an associate in the Litigation and Dispute Resolution…
Fernando  Boyd photo Fernando Boyd Fernando Boyd is a Partner at Morgan & Morgan and works in…
Maria Eugenia Brenes photo Ms Maria Eugenia Brenes María Eugenia Brenes is an Associate at Morgan & Morgan and currently…
Nestor Broce photo Mr Nestor Broce Nestor Broce is a Senior Associate in Morgan & Morgan and General…
Milagros Caballero photo Ms Milagros Caballero Milagros Caballero is a senior associate and works in the Labor Law…
Allen Candanedo photo Mr Allen Candanedo Allen Candanedo is a Senior Associate in the Intellectual Property Department of…
Jose Carrizo photo Jose Carrizo Jose Carrizo is a Partner and heads the Litigation and Dispute Resolution…
Ana Carolina Castillo photo Ms Ana Carolina Castillo Ana Carolina Castillo Solis is a Partner in the Corporate Law Department…
Raul Castro photo Mr Raul Castro Raul Castro de la Guardia is a Partner and heads the Estate…
Alejandro Chevalier photo Mr Alejandro Chevalier Alejandro E. Chevalier is an associate at Morgan & Morgan and works…
Emma Cornejo photo Ms Emma Cornejo Emma Cornejo is an Associate at Morgan & Morgan and serves in…
Yosela  Escudero photo Ms Yosela Escudero Yosela Escudero is an associate at Morgan & Morgan and serves in…
Fanny Evans photo Ms Fanny Evans Fanny Evans is a Partner at Morgan & Morgan and works in…
Arantxa  Fernandez photo Arantxa Fernandez Arantxa Fernandez Chang is an associate at Morgan & Morgan and works…
Juan David Franco photo Juan David Franco Juan Antonio Franco Diaz is an associate in the Litigation and Dispute…
Inocencio Galindo photo Mr Inocencio Galindo Inocencio Galindo is a Senior Partner at Morgan & Morgan Legal and…
Ivette Gonzalez photo Ivette Gonzalez Ivette Gonzalez is an Associate at Morgan & Morgan and serves in…
Carlos Ernesto González Ramírez photo Mr Carlos Ernesto González Ramírez Carlos Ernesto González Ramírez is a Partner at Morgan & Morgan and…
Nicole Gonzalez-Ruiz photo Nicole Gonzalez-Ruiz Nicole Gonzalez-Ruiz De Ycaza is an associate attorney in the Litigation and…
Patricia Henderson photo Ms Patricia Henderson Patricia Henderson is an Associate at Morgan & Morgan and works in…
Luis Miguel  Hincapie photo Luis Miguel Hincapie Luis Miguel Hincapie is a partner at Morgan & Morgan. He advises…
Ariana Linares photo Ariana Linares Ariana V. Linares T. is an associate in the Corporate Law Department…
Francisco Linares photo Mr Francisco Linares Francisco J. Linares F., BA (Phil. & Econ./PPE), JD (cum laude), is…
Luis Manzanares photo Mr Luis Manzanares Luis Manzanares is a Partner at Morgan & Morgan and heads the…
Alexis Medina photo Mr Alexis Medina Alexis Medina is a Senior Associate at Morgan & Morgan. Mr. Medina…
Andres V. Mejia photo Mr Andres V. Mejia Andres V. Mejia is an associate in the firm’s Shipping and Admiralty…
Maria Teresa Mendoza photo Ms Maria Teresa Mendoza Maria Teresa Mendoza is a Partner at Morgan & Morgan and co-heads…
Gisselle Moncada photo Ms Gisselle Moncada Giselle Moncada is a Senior Associate at Morgan & Morgan Legal. She…
Albalira Montufar photo Ms Albalira Montufar Albalira Montufar is a partner at Morgan & Morgan and heads the…
Juan David Morgan Jr. photo Mr Juan David Morgan Jr. Juan David Morgan Jr. is a Partner at Morgan & Morgan and…
Angelica Ortiz photo Ms Angelica Ortiz Angelica Ortiz is an associate at Morgan & Morgan and works in…
Katia Pallares photo Katia Pallares Katia Pallares is an associate in the Corporate Law Department of Morgan…
Rodolfo Palma photo Mr Rodolfo Palma Rodolfo Palma is a Senior Associate at Morgan & Morgan and works…
David Ramos photo Mr David Ramos David A. Ramos Alvarez has been part of the firm since 2018…
Luis Raven photo Mr Luis Raven Luis G. Raven is currently a Partner at Morgan & Morgan and…
Jose Rafael Reyes photo Mr Jose Rafael Reyes Jose Rafael Reyes is a partner at Morgan & Morgan and heads…
Omar Rodriguez photo Mr Omar Rodriguez Omar Cadul Rodriguez Muñoz heads the criminal law practice of the firm…
Miguel Rodriguez photo Miguel Rodriguez Miguel Rodríguez joined Morgan & Morgan in 2003 as a Paralegal and…
Jazmina Rovi photo Ms Jazmina Rovi Jazmina Rovi is a Partner and head of the Ship Finance and…
Mayte Sanchez Gonzalez photo Ms Mayte Sanchez Gonzalez Mayte Sanchez Gonzalez is a Partner in the Litigation and Dispute Resolution…
Carolina  Tejada Vaprio photo Ms Carolina Tejada Vaprio Carolina Tejada Vaprio is an Associate at Morgan & Morgan Immigration Law…
Mario Tejeira photo Mr Mario Tejeira Mario Tejeira is currently a Partner at Morgan & Morgan. Mr. Tejeira…
Orlando Tejeira photo Mr Orlando Tejeira Orlando Tejeira is an Associate in the Litigation and Dispute Resolution Department…
Joy Torres photo Mr Joy Torres
Luis Vallarino photo Mr Luis Vallarino Luis Vallarino is a Partner and co-head in the Litigation and Dispute…
Ramon Varela photo Mr Ramon Varela Ramon Varela is currently a Partner and heads the Energy and Projects…
Daniel Vargas photo Mr Daniel Vargas
Alejandro  Vasquez V. photo Mr Alejandro Vasquez V. Alejandro Vasquez Vallarino is a senior associate in the Corporate Law Department…
Clarissa Vega photo Clarissa Vega Clarissa Vega Ruiz is an associate in the Corporate Law Department of…
Roberto Vidal photo Mr Roberto Vidal Roberto Vidal is a Partner in the Corporate Law Department of the…
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Partners : 43
Associates & Attorneys : 36

Morgan & Morgan is recognized as Pro Bono Leading Lights 2023.

Panama, December 1, 2023. For eleven consecutive years, Morgan & Morgan has received the “Leading Lights” recognition in Latin America for the firm´s Pro Bono program. In Panama, only Morgan & Morgan achieved this status, sharing honors with leading regional firms.

Guide to Governmental Procurement in Latin America.

Panama, December 18, 2023. The Republic of Panama promotes the participation of foreign companies in its public procurement market and encourages competition to ensure efficiency and quality in the execution of projects and the provision of goods and services.

WSG Tax Guide: Navigating Tax Law Policies in Latin America.

Panama, January 5, 2024. The World Services Group (WSG) Tax Group has published Navigating Tax Law Policies in Latin America, a country-by-country Guide that provides detailed insights, updates and trends on important laws and policies throughout the region.

New minimum wage rates

Executive Decree No. 1 of January 10th, 2024 The President of the Republic has issued the new Minimum Wage Decree that becomes effective as of January 16th, 2024, considering that a consensus was not reached in the Minimum Wage Commission, and it is up to the Executive Branch to set the new applicable rates.

Morgan & Morgan Legal advised Mercandú in a capital raising round to expand its e-commerce platform in the region.

Panama, January 8, 2024. Morgan & Morgan Legal acted as the Panamanian legal advisor for Mercandú, a startup based in El Salvador that operates the largest marketplace in the Central American region, offering over 500,000 products,


Morgan & Morgan Legal advised Rhenus in connection with the acquisition of certain Panamanian subsidiaries of BLU Logistics.

Panama, October 2, 2023. Morgan & Morgan Legal advised Rhenus, a leading global logistics specialist,


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$200 million.

Panama, August 29, 2023. Morgan & Morgan Legal advised Orla Mining Ltd. (“Orla”), as borrower and Minera Cerro Quema, S.A.,


Morgan & Morgan Legal advised Cirsa Finance International S.à.r.l. in connection with the offering of senior secured notes for an amount of up to €700 million.

Panama, July 19, 2023. Morgan & Morgan Legal acted as Panamanian legal counsel to Cirsa Finance International S.à.r.l. (the “Issuer”),


Morgan & Morgan Legal advised ARTCAP LAC PRIVATE CREDIT SERVICES S.A. and Banistmo Investment Corporation S.A., in relation to a 10-year US$90 million senior secured loan granted to Banesco (Panamá), S.A.

Panama, July 17, 2023. Morgan & Morgan Legal represented (i) ARTCAP LAC PRIVATE CREDIT SERVICES S.A., an affiliate of ArtCap Strategies,

Morgan & Morgan Legal advised First Quantum Minerals Ltd. in connection with the offering and issuance of senior notes for an amount of US$1.3 Billion

Panama, May 30, 2023. Morgan & Morgan Legal advised First Quantum Minerals Ltd. (“FQM”) in the offering and issuance of its $1,300,000,000 aggregate principal amount of 8.625% senior notes due 2031 (the “Notes”).

Morgan & Morgan Legal advised Greenwood Energy Central America Corp. in connection with the financing for the development, construction, commissioning, and operation of a 40MW photovoltaic power park.

Panama, June 1, 2023. Morgan & Morgan Legal represented Greenwood Energy Central America Corp. (“Greenwood”), in the financing for the development,

Morgan & Morgan Legal advised Inmobiliaria Casas Grandes, S.A. in the constitution and registration of FIDEICOMISO INMOBILIARIO CASAS GRANDES as a Real Estate Investment Fund.

Panama, June 2, 2023. Morgan & Morgan Legal provided legal counsel to Inversiones Inmobiliarias Casas Grandes, S.A. (“Casas Grandes”), as sponsor,

Morgan & Morgan Legal advised MMG Global Allocation Fund, Inc. in the conversion from a closed-end simple fund into a closed-end umbrella fund.

Panama, April 5, 2023. Morgan & Morgan Legal represented MMG Global Allocation Fund, Inc.

Morgan & Morgan celebrates its 100th anniversary.

100 years of legacy, successful trajectory and commitment to its clients, professional staff, and the community.

Morgan & Morgan Legal advised Green Tower Properties Inc. and its shareholders in the registration and conversion as a Real Estate Investment Trust and an initial public offering (IPO) of its shares through Latinex.

Morgan & Morgan Legal advised Green Tower Properties Inc. (“Green Tower”) and its shareholders, in the registration and conversion as a Sociedad de Inversión Inmobiliaria (the Panamanian equivalent of a Real Estate Investment Trust or “REIT”) before the Superintendence of the Securities Market of Panama (the Superintendencia del Mercado de Valores or “SMV”), and in the registration of its Class B Shares before the SMV and the Latinamerican Stock Exchange, S.A. (the Bolsa Latinoamericana de Valores, S.A. or “LATINEX”). The REIT was authorized by the SMV to publicly offer up to 3,000,00 of its Class B Shares. Said registration and listing enabled Green Tower to make an initial public offering (IPO) of its Class B Shares, of which a total of 243,823 shares were successfully placed in the primary market through LATINEX for a gross amount exceeding US$7,000,000. Said IPO will allow Green Tower to make a repayment of US$7,000,000 in debt amortization of the Series A real estate bonds, improving its cash flow and reducing its level of leverage. Additionally, the registration and listing of its Class B Shares will also allow pre-existing shareholders of Green Tower to monetize their initial investment in Green Tower through the sale of such Class B Shares in the secondary market through LATINEX.


Morgan & Morgan Legal advised Minera Panama, S.A., in negotiating a Refreshed Concession Agreement with the Government of Panama for the Cobre Panama Project, the largest private investment in the history of Panama.

Morgan & Morgan Legal acted as lead Panamanian legal counsel to First Quantum Minerals Ltd. (“FQM”) and Minera Panama, S.A. (“MPSA”), a subsidiary of FQM, in all aspects related to the negotiations with the Government of Panama for a refreshed mining concession agreement for the Cobre Panama Project (the “Draft Refreshed Contract”).  On March 8, 2023, after a 2 year long, arduous, and complex negotiation process, the parties agreed on the final terms and conditions for a Draft Refreshed Contract.

Morgan & Morgan consolidates as the Panamanian law firm with the best corporate reputation.

For the fifth consecutive year, the Corporate Reputation Business Monitor (MERCO), a reference monitor for Ibero-America, presented the rankings of 100 companies and the 100 leaders with the best reputation in Panama.

Morgan & Morgan promotes Ana Carolina Castillo Solis and Laura Barrios Alfatulla as partners.

Morgan & Morgan Legal is pleased to announce the recent promotion of attorneys Ana Carolina Castillo Solis and Laura Barrios Altafulla as partners of the firm's Corporate Law and Estate Planning and Corporate Services departments, respectively. These designations reinforce the firm’s commitment to gender equality and equal opportunities in the workplace.


Morgan & Morgan Legal advised Cochez y Cía, S.A. in the registration of revolving commercial papers for an amount of up to US$10 million.

Morgan & Morgan Legal represented Cochez y Cía., S.A. (the “Issuer”), in the registration of revolving commercial papers for an aggregate of US$10,000,000, under the abbreviated registration process for recurring registered issuers with the Superintendency of Capital Markets of Panama, in order for the Issuer to publicly offer the bonds in multiple series.


Morgan & Morgan Legal advised Cochez y Cía, S.A. in the registration of revolving corporate bonds for an amount of up to US$90 million.

Morgan & Morgan Legal represented Cochez y Cía., S.A. (the “Issuer”), in the registration of revolving corporate bonds for an aggregate of US$90,000,000, under the abbreviated registration process for recurring registered issuers with the Superintendency of Capital Markets of Panama, in order for the Issuer to publicly offer the bonds in multiple series, including the issue of Series of Green or Sustainable Corporate Bonds.


Morgan & Morgan Legal advised MMG Bank Corporation in connection with a financing to be granted in favor of Daconan Star Solar, S.A.

Morgan & Morgan Legal represented MMG Bank Corporation (“MMG Bank”), as lender, in a financing to be granted in favor of Daconan Star Solar, S.A. (“Daconan”), to be used for expansion, by 2.64 additional megawatts of the capacity of a photovoltaic project called “Daconan Solar”, with an installed capacity of 3.24 megawatts, located in the Province of Veraguas.


Morgan & Morgan Legal advised Corporación Andina de Fomento in the listing and placement of a Series of Set-Up Fixed Rate Notes for an amount of up to US$200 million.

Morgan & Morgan Legal represented Corporación Andina de Fomento (CAF- Development Bank of Latin America) (the “Issuer”), in the listing and placement through the Latin American Stock Exchange (“Latinex”) of a Series of Step-Up Fixed Rate Notes for an aggregate of US$200,000,000 (the “Notes”), under the US$30,000,000,000 Medium Term Note Programme. The Notes are subject to English Law and exempt from registration with the Superintendency of Capital Markets of Panama by virtue of article 129(1)(b) of Decree Law 1 of 1999, as amended, which exempts registration of public offering of securities issued by international organizations of which the Republic of Panama is a member, which is the Issuer’s case.

Morgan & Morgan Legal advised Supermercados Xtra, S.A. in connection with the registration of common shares for an amount of up to US$45.5 million.

Panama, July 4, 2022. Morgan & Morgan Legal advised Supermercados Xtra, S.A., one of the leading supermarket chains in Panama (the “Issuer”), and its shareholders in the registration of its 12,500,000 common shares (the “Common Shares”) with the Superintendency of Capital Markets of Panama for their negotiation in a secondary market transaction through the Latinamerican Stock Exchange (“Latinex”).  The Common Shares were successfully placed and sold in the secondary market of Latinex to almost 250 new investors for a sum in excess of US$45,500,000.00. This transaction is the first placement of common shares in Panama by an issuer of the retail sector in the last 20 years.

Morgan & Morgan Legal strengthens its Tax Law practice

Panama, July 8, 2022. Morgan & Morgan Legal is pleased to announce the recent incorporation of Mr. Jose Rafael Reyes as partner and head of the Taxation practice group of the firm.

Morgan & Morgan Legal advised Mercantil Holding Financiero Internacional, S.A. (MHFI) in the execution of a promissory share purchase agreement for the acquisition of the majority stake in Capital Bank, Inc.

Morgan & Morgan Legal advised Mercantil Holding Financiero Internacional, S.A. (MHFI), a subsidiary of Grupo Mercantil, in relation to the execution of the Promissory Share Purchase Agreement (the “SPA”) dated June 29, 2022, by and among the shareholders of Capital Bank, Inc. (“Capital Bank”) as sellers (the “Sellers”), and MHFI, as a buyer, whereby the parties agreed to execute the sale and transfer of 100% of the issued and outstanding shares of Capital Bank and its subsidiaries, and 100% of the issued and outstanding shares of Mercantil Banco, S.A. (a subsidiary of MHFI), to a new entity that will be owned by MHFI (in a 80%) and the Sellers (in a 20%). Additionally, the parties agreed that MHFI would acquire 100% of the issued and outstanding shares of Capital Assets Consulting, Inc., a brokerage firm associated with Capital Bank.

Morgan & Morgan submitted its Annual Sustainability Report 2021.

Morgan & Morgan submitted before the United Nations Organization (UN) Forum its Sustainability Report 2021, a document that provides relevant information on its processes, sustainability strategy, and achievements for the 2021 year and its significant economic, environmental, and social impacts.

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.