Mr Gabriel González-Ruiz > Icaza, González-Ruiz & Alemán > Panama, Panama > Lawyer Profile

Icaza, González-Ruiz & Alemán


Public Procurement and Privatizations, Administrative Law, Commercial Law, Tax Law, Banking Law, Mergers & Acquisitions, Project Finance


• License Certificate: 1979

Partner, since 1990.
Associate (1979 – 1989)


Spanish and English.


Panama Bar Association


Bachelor of Law and Political Science, University of Panama, (1978).  Thesis:  “The Autonomy of Commercial Law” (publication recommended by the grading jury), (1978).


Mountain biking and kayaking

Lawyer Rankings

Panama > Banking and finance

(Leading individuals)

Gabriel González-Ruiz – Icaza, González-Ruiz & Alemán

Icaza, González-Ruiz & Alemán‘s expertise in project finance makes it a popular choice to advise leading domestic and international banks on high-profile infrastructure developments; its recent work highlights include advising on the financing of the expansion of the Panama City metro, and it has also been highly active in transactions relating to healthcare facilities and road construction. The experienced leadership group is made up of Gabriel González-Ruiz, a standout name for advising international consortiums on project finance; Luis Chalhoub, who has a broad banking and finance practice that notably includes advising on factoring transactions; and Michelle O de de la Guardia. Alfredo Fonseca, who was elevated to the partnership in June 2023, is also a key contact for project finance in the energy and infrastructure sectors.

Panama > Capital markets

Icaza, González-Ruiz & Alemán advises a broad client portfolio of banks, multilateral institutions, private funds and corporations on the full range of capital markets matters, from public offerings on both the domestic and international markets to the licensing of brokerage houses and investment fund managers. The highly experienced Gabriel González-Ruiz, whose workload spans regulatory and transactional matters, is a key contact; other names to note include Michelle O de de la Guardia, who has additional expertise in trust-related issues, Luis Chalhoub and recently promoted partner Alfredo Fonseca.

Panama > Corporate and M&A

With a focus on advising multinationals across a wide array of sectors, the corporate team at Icaza, González-Ruiz & Alemán is well versed in cross-border M&A, and also has standout expertise in asset purchase transactions (particularly in the real estate sector), corporate reorganisations, spin-offs and joint ventures. Practice head Alexis Herrera Jr has robust skill sets in M&A, with an emphasis on the energy, infrastructure and trade fields, drawing on his strength in public procurement matters. He leads a highly experienced team, which includes Luis Chalhoub, whose wide-ranging practice takes in commercial, M&A, competition and consumer protection, and free trade zone law, Gabriel González-Ruiz and former Minister of the Presidency of Panama Álvaro Alemán. Recently promoted partner Alfredo Fonseca and associate Adolfo González-Ruiz provide capable support. The firm is also noted for its participation in social development programmes and pro bono services through its foundation, Fundación IGRA.