Mr Francisco Arias > Morgan & Morgan > Panama, Panama > Lawyer Profile

Morgan & Morgan

Work Department

Business and Corporate Law, Mergers and Acquisitions, Projects, Securities and Capital Marktets, Energy and Natural Resources, Real Estate, Intellectual Property


Francisco Arias a Partner in the corporate law department and heads the Mergers and Acquisitions, Securities and Capital Markets and Intellectual Property practice groups of the firm.  Mr. Arias has over 20 years of legal experience, first in New York as an associate at Kronish, Lieb, Weiner & Hellman (today Cooley Kronish); and then in Panama as an associate and then a partner of Arias, Fábrega & Fábrega.

As a corporate lawyer, Mr. Arias is regarded as a leading expert in the market and his practice focuses on advising the board and management on mergers and acquisitions, corporate governance, financial restructurings and other significant corporate matters.

He also has wide local and international experience and has assisted corporate clients and credit institutions in several major transactions such as the Panama Canal Expansion project, the most important infrastructure project in Panamanian history.

Mr. Arias has represented clients in connection with the sale and purchase of businesses as well as joint ventures. During the last years, he has participated in transactions in several industries, including electricity generation, insurance, construction, real estate, hospitality, banking related services, shrimp farms, restaurants, retail, printing and editing, and non-alcoholic beverages, some with cross border components.

Mr. Arias also collaborates with publications in the Corporate and M&A, and he is active in associations of law firms dealing in this sector. He is primarily responsible for the firm for managing the relationship with Terralex, a worldwide organization of 17,000 attorneys in 100 countries.

Mr. Arias also has been recognized as a leading banking and project finance lawyer by Chambers & Partners, IFLR1000, The Legal 500, Who´s Who Legal and the Latin American Corporate Counsel Association (LACCA).

Francisco Arias is currently admitted to practice law in the Republic of Panama and was admitted to the bar of New York.


Englis, Spanish




Mr. Arias obtained a B.A. in Economics from Ohio Wesleyan University (1986) and a J.D. from Georgetown University Law Center (1989).

Lawyer Rankings

Panama > Banking and finance

(Leading individuals)

Francisco AriasMorgan & Morgan

Morgan & Morgan‘s ‘broad interdisciplinary team‘ handles both large-cap financing deals and regulatory issues on behalf of a diverse client base that includes leading domestic and international banks, financial institutions, public entities and corporations. The team- which is rated for ‘its knowledge of Panamanian regulations’– has been highly active in large-scale domestic lending transactions, most notably the financing of significant infrastructure projects, but is also well placed to offer ‘support in structures involving different jurisdictions‘. Also noteworthy is the firm’s newly established practice dedicated to start-ups in the fintech sector, and its remarkable strength in insolvency matters. Kharla Aizpurúa, who is recognised for her experience in project finance and syndicated lending, leads the team alongside the highly endorsed Inocencio Galindo. Francisco Arias is a name to note for structured finance and regulatory matters, while Ramón Varela specialises in project finance and senior associate Ana Carolina Castillo focuses on energy-related transactions. Since publication, Castillo has been raised to the partnership – effective as of January 2023.

Panama > Capital markets

(Leading individuals)

Francisco AriasMorgan & Morgan

Morgan & Morgan brings its ‘vast experience‘ in capital markets matters to bear when advising on high-profile public and private offerings, including both local transactions and international Rule 144A/Reg. S offerings. In addition, the team is singled out for its niche expertise in the incorporation of real estate investment funds, where Ricardo Arias, who recently took on the role of practice co-head, is highly experienced. Its impressive client roster spans domestic and international banks, financial institutions and major corporations, particularly in the real estate sector. Francisco Arias, a key contact for capital markets transactions and regulatory matters, spearheads the group, which also features senior associate Ana Carolina Castillo and international associate Miguel Arias. Since publication, Castillo has been raised to the partnership – effective as of January 2023.

Panama > Corporate and M&A

(Leading individuals)

Francisco AriasMorgan & Morgan

The corporate team at Morgan & Morgan has recently been active in a number of significant M&A transactions, particularly in the financial services industry, acting for an impressive roster of international financial institutions and corporations from a variety of sectors. As well as domestic matters, the practice is frequently instructed in multi-jurisdictional transactions within Latin America and cross-border M&A between the US and Panama. The firm also stands out for its expertise in the establishment of multinational headquarters in Panama. The M&A team is under the joint leadership of Francisco Arias, who also takes the lead on corporate work, and the ‘agile and efficient’ Roberto Vidal. Inocencio Galindo and Ramon Varela are highlighted for their expertise in the mining and energy sectors, respectively.

Panama > Intellectual property

Morgan & Morgan stands out for its track record of advising on the IP aspects of M&A transactions, and distribution and licensing agreements. The team is adept at handling trade mark registrations in Panama and internationally, offering advice to a diverse client portfolio comprised of leading names from the luxury fashion, consumer products, banking, automotive, and food and beverage sectors. Francisco Arias manages the practice, where senior associate Allen Candanedo is a name to note for IP contentious matters, and associate Maria Eugenia Brenes assists with IP portfolio management and health product regulations.

Panama > Real estate

(Leading individuals)

Francisco Arias  – Morgan & Morgan

Working closely with the firm’s project finance practice, the real estate team at Morgan & Morgan has significant strength in structuring the financing for high-value commercial, retail and residential developments. In addition, the team advises on tourism-related projects and luxury residential developments. Clients include major real estate developers and leading domestic financial institutions, who also turn to the firm for assistance in real estate M&A. Practice head Francisco Arias is a key figure in the team for real estate finance matters, while Ricardo Arias specialises in the establishment and registration of real estate investment trusts.