Alemán, Cordero, Galindo & Lee > Panama, Panama > Firm Profile

Alemán, Cordero, Galindo & Lee

Panama > Banking and finance Tier 1

A longstanding leader in the Panamanian market, Alemán, Cordero, Galindo & Lee houses a comprehensive banking and finance practice, which spans the full range of related matters, from leveraged and acquisition finance to project finance, asset finance and real estate finance. In particular, the team is renowned for its expertise in cross-border transactions, with a particular emphasis on financings governed by New York law. The firm is predominantly focused on the lender side of deals, acting for an impressive roster of major domestic banks as well as prominent international lenders, but also advises a host of corporate borrowers, including well-known multinationals. Managing partner Arturo Gerbaud leads the practice, bringing over three decades of experience in complex financial transactions. The sizeable team also includes a trio of up-and-coming partners: Rita de la Guardia (who is also qualified in New York), Patricia Cordero and Rafael Marquínez. Experienced associates Karla Rivera and Mario Vlieg are also key contacts.

Panama > Capital markets Tier 1

Alemán, Cordero, Galindo & Lee fields a four-partner team capable of handling the full spread of capital markets matters, but is particularly renowned for its expertise in debt capital markets transactions, with an impressive recent track record in advising on both domestic bond issuances and cross-border Rule 144A/Regulation S offerings. In addition to advising local and regional issuers, the firm’s strong reputation in international matters makes it a preferred choice to act for foreign financial institutions. Managing partner Arturo Gerbaud, who has extensive experience advising both underwriters and issuers on complex bond offerings, leads the team. Rafael Marquínez, Patricia Cordero and Rita de la Guardia – all of whom were promoted to the partnership in 2022 – are also active members of the practice.

Panama > Corporate and M&A Tier 1

M&A powerhouse Alemán, Cordero, Galindo & Lee has a stellar track record in advising on both the purchaser and seller side of high-profile transactions, with notable capabilities in cross-border matters and deals in the banking and energy sectors. It also has growing expertise in the telecoms, technology and logistics spaces. Its client base ranges from major multinationals and leading Panamanian corporations to smaller emerging businesses. The department is headed by the highly experienced duo of Arturo Gerbaud, an expert in the financial services sector, and former Minister of Foreign Affairs Alejandro Ferrer, whose practice takes in energy and telecoms-related transactions and antitrust matters. Other well-regarded partners in the sizeable team include Raúl Borrell, a specialist in the natural resources and maritime fields, Rita de la Guardia, who is also admitted to practice in New York and is well versed in international transactions, Patricia Cordero and Rafael Marquínez, while Diego Anguizola (another member of the New York Bar) and Mario Vlieg stand out at the associate level.

Panama > Dispute resolution Tier 1

Alemán, Cordero, Galindo & Lee is widely recognised for the depth and breadth of its dispute resolution offering, fielding a four-partner team that is equally adept at handling complex litigation and arbitration. The firm remains the first port of call for many of Panama’s leading banks in financial litigation, and also stands out for its representation of major multinationals in commercial disputes (with a marked focus on the insurance, telecoms and construction sectors). On the arbitration front, the team is active in both local and international disputes, recently playing a prominent role in a high-profile case relating to the expansion of the Panama Canal. At the helm of the practice, former Minister of Labour Jorge Federico Lee has expertise across the full spectrum of disputes, and is particularly well versed in labour cases, and Alejandro Ferrer, who previously served as Minister of Foreign Affairs, has a strong recent record in construction arbitration. Eduardo Gómez, a specialist in international arbitration and commercial litigation, and Jaime Castillo, whose practice spans tax, antitrust and construction-related disputes, are also key names. The enviably deep associate bench includes Doris Nieto (who has expertise in the telecoms, energy, insurance and media sectors), Anel RoachArcelio Vega and Ana Gabriela Santiago.

Panama > Offshore Tier 1

Alemán, Cordero, Galindo & Lee‘s international corporate services team draws upon an extensive network of offices in key jurisdictions, including the Bahamas, Belize and the British Virgin Islands (BVI), to advise on estate planning, the structuring of family offices, trust formation and administration, and the creation of private interest foundations. In addition to assisting numerous international law and accountancy firms, the firm also counts a wide array of multinationals, institutional investors, privately owned companies, charitable organisations and high-net-worth individuals (HNWIs) among its clients. Key practitioners include founding partner Jaime Alemán (a former ambassador to the US), Raúl Zúñiga and experienced associate Cristina de Alba; Alemán and de Alba are also admitted to practice in the District of Columbia and New York, respectively, making them particularly well equipped to advise international clients. International associates Othmane Naim and Caroline Olivier provide key support from the firm’s affiliate office in Switzerland. Since publication, de Alba has left the firm.

Panama > Projects and energy Tier 1

Alemán, Cordero, Galindo & Lee houses a comprehensive projects practice, which is particularly renowned for its expertise in the transport infrastructure space. The firm has significant experience in the financing, structuring, construction and operation of major transport projects, spanning the expansion of highways, port facilities and the Panama Canal. On the energy front, the team is equally adept at advising on conventional and renewable energy (with an emphasis on solar power), as well as assisting international clients with the operation of Panamanian mining concessions. Following the departure of former practice co-head Eloy Alfaro in July 2022, the key names at the senior level are former Minister of Foreign Affairs Alejandro Ferrer; Raúl Borrell, whose practice encompasses public tenders and concessions and the development of maritime and port facilities; and energy specialist Jaime Castillo. The experienced associate group includes Diego Anguizola, Sophia Astrid Lee and Doris Nieto.

Panama > Real estate Tier 1

Alemán, Cordero, Galindo & Lee‘s real estate practice is particularly sought after by major Panamanian real estate developers to advise on all aspects of high-profile commercial, industrial and residential projects in the country, including financing, contracting and regulatory issues. The team is strong in advising on the development of high-end beach resorts, in addition to assisting with complex projects such as the Panamá Pacífico master-planned sustainable city. Among the key names at the partner level are Anibal Galindo, who is renowned for his vast experience across the full spectrum of real estate matters, and Lorenzo Marquínez, who has notable expertise in advising Panama’s largest luxury real estate developers. They jointly lead the practice following the departure of former department co-head Eloy Alfaro in July 2022. Up-and-coming partner Rafael Marquínez is also active in real estate finance transactions.

Aleman, Cordero, Galindo & Lee (Alcogal) was founded in 1985 and has rapidly emerged as one of Panama’s leading law firms. Alcogal strives to grow alongside its clients, which include several Global Fortune 500 companies. Alcogal’s various practice groups are supported by its offices worldwide, and also by its global network of advisers and correspondents.

Main practice areas
Banking and finance: Alcogal is an acknowledged industry leader and has been involved in many of Panama’s largest, most complex financial transactions. The firm represents many leading financial institutions in both international and domestic bank financing, as well as in other forms of acquisition and project financings, including public tender offers, asset purchase financing, ship financing and mezzanine financings.

Corporate structures, and trusts and estates: Alcogal provides its global clientele of corporations, private banks, family offices, private equity funds, hedge funds and trustees with multi-jurisdictional, tailor-made solutions. Under the guidance of some of the industry’s leading practitioners, Alcogal advises clients on the structuring of cross-border M&A transactions, asset management platforms and investment vehicles, as well as wealth and estate planning solutions.

Corporate: Alcogal has participated in many of the landmark commercial transactions in Panama. Alcogal’s skilled team of corporate attorneys and professional staff advises on both domestic and international matters concerning capital markets transactions and securities regulation, joint ventures, real estate, shipping and investment management.

Energy, mining and infrastructure: Alcogal has extensive experience in a variety of domestic infrastructure projects, including ports, canals, bridges, toll roads, tunnels, airports and mass transit. In addition, the team has advised clients in connection with some of the largest domestic transactions in the energy and mining sectors.

Litigation and arbitration: Alcogal’s litigation and arbitration practice is best known for handling its clients’ most important, complex and novel disputes. Its seasoned trial lawyers and arbitration specialists advise on administrative proceedings, appellate litigation, banking and financial services litigation, international arbitration, labor and immigration disputes, mediation and telecommunications litigation, among others.

Mergers and acquisitions: Alcogal has represented international and domestic clients in most of the country’s largest M&A transactions. Riding one of the most prolific M&A waves in recent history, Alcogal represents clients from every major industry in efficiently and effectively handling ‘bet-the-company’ transactions.

Projects and public tenders/bids: Alcogal advises both international and domestic corporations in connection with public tenders/bids, public/private partnerships, BOT, BOOT and various other types of transactions involving the government of Panama (and its various political subdivisions). The firm has recently advised clients in connection with transactions involving airports, telecommunications, toll-roads and various other projects.

Department Name Email Telephone
Banking and finance Arturo Gerbaud +(507) 269-2620
Corporate structures, trusts and estates Jaime Alemán H +(507) 269-2620
Corporate structures, trusts and estates Raul Zúñiga B +(507) 269-2620
Energy and infrastructure Carlos Cordero G +(507) 269-2620
Energy and infrastructure Alejandro Ferrer L +(507) 269-2620
Litigation Alejandro Ferrer L +(507) 269-2620
Mergers and acquisitions Arturo Gerbaud +(507) 269-2620
Mergers and acquisitions Rita de la Guardia +(507) 269-2620
Mining Alejandro Ferrer L +(507) 269-2620
Project finance Arturo Gerbaud +(507) 269-2620
Public tenders Carlos Cordero G +(507) 269-2620
Real estate Anibal Galindo N +(507) 269-2620
Shipping Anibal Galindo N +(507) 269-2620
Telecommunications Alejandro Ferrer L +(507) 269-2620
Telecommunications Carlos Cordero G +(507) 269-2620
Capital Markets Rafael Marquinez +(507) 269-2620
Photo Name Position Profile
Jaime Aleman photo Mr Jaime Aleman Partner (Founding Partner; 1985).
Raul Borrell A. photo Mr Raul Borrell A. Partner
Jaime Castillo photo Mr Jaime Castillo Partner
Patricia Cordero photo Mrs Patricia Cordero Partner
Carlos Cordero photo Mr Carlos Cordero Partner (Founding Partner 1985)
Alejandro Ferrer photo Mr Alejandro Ferrer Partner (1998).
Anibal Galindo photo Mr Anibal Galindo Partner (Founding Partner 1985)
Arturo Gerbaud photo Mr Arturo Gerbaud Managing Partner    
Eduardo Gómez photo Mr Eduardo Gómez Partner
Jorge Federico Lee photo Mr Jorge Federico Lee Partner (Founding Parner; 1985).  
Rafael Marquinez photo Mr Rafael Marquinez Partner
Lorenzo Marquínez photo Mr Lorenzo Marquínez Partner
Raúl Zuñiga photo Mr Raúl Zuñiga Partner
Rita de la Guardia photo Mrs Rita de la Guardia Partner
Other fee-earners : 18
Partners : 14
Other fee-earners : 17