Claro & Cia. > Santiago, Chile > Firm Profile

Claro & Cia. > The Legal 500 Rankings

Chile > Banking and finance Tier 1

The large banking and financing  department at full-service firm Claro & Cia. is a go-to practice for creditors, debtors, financiers and agents in relation to the development and implementation of both domestic and international banking and financial deals. The team’s expertise ranges from syndicated loans and LBOs, to structured products, derivatives and financial guarantees; it also demonstrates an enviable energy and infrastructure project-financing practice. Reflecting these capabilities, a stellar-year saw the practice lead advice to LATAM Airlines on its $3.7bn DIP loan agreement, including regional coordination of the matter across eight jurisdictions. Among the group’s several esteemed partners are prominent banking and finance specialist Rodrigo Ochagavía; Cristóbal Eyzaguirre, who assists with banking and finance matters (in addition to complex litigation); Jorge Martín, a specialist in project finance and bank and non-bank financing; and José Luis Ambrosy, whose broad practice covers corporate finance, international financing and capital markets deals. Also integral to the group are project finance lawyer José María Eyzaguirre F and M&A leader José María Eyzaguirre B. Former partner Ariel Mihovilovic  left the firm in February 2023 to become a candidate for Chile’s Constitutional Council.

Chile > Bankruptcy, insolvency and restructuring Tier 1

Legal market powerhouse Claro & Cia. fields a sizeable reorganisation and insolvency team that covers the gamut of insolvency matters and is consistently sought out for high-level restructuring work (both domestically and internationally). In what probably constitutes the most high profile matter of recent years, the team is currently co-lead advisor (in conjunction with Cleary Gottlieb Steen & Hamilton) on the multibillion-dollar bankruptcy and restructuring process of LATAM Airlines, the first Chapter 11 proceedings of a public company in Chile. More typically, representative work includes advising company clients on the restructuring and rescheduling of their liabilities, along with negotiating payment and creditor agreements, and assisting creditors with insolvency proceedings and reorganisation agreements. Department head Nicolás Luco is a civil and commercial litigation and arbitration specialist; M&A leader José María Eyzaguirre B is notably active in major restructurings; and Rodrigo Ochagavía, Cristóbal Eyzaguirre and Santiago Bravo all assist with reorganisation and insolvency matters. Also integral to the department are cross-border expert Felipe Larraín; José Miguel Huerta, whose wide-ranging practice covers bankruptcy work; and bankruptcy and restructuring specialist José María Eyzaguirre F. Raised to the partnership in January 2022, Álvaro Vives is also active in the sector.

Chile > Capital markets Tier 1

Acting for issuers, financiers, initial purchasers, selling shareholders, and institutional and individual investors, Claro & Cia. houses a go-to practice for high-stakes domestic and international securities deals, including public and private offerings. The team’s scope of expertise ranges from IPOs, project-related bond issuances, high-yield and investment-grade debt and equity offerings, to listings on stock exchanges, exchange offers, offers for share acquisitions and debt securities, and hybrid securities. The department features several widely-respected partners, namely: Rodrigo Ochagavía, whose expertise covers the energy, mining, banking and insurance sectors; José Luis Ambrosy, an expert in capital markets-related projects involving the Chilean authorities; and Felipe Larraín, who is particularly focused on deals with foreign counterparties. Luisa Núñez and Juan José León are additional highly-rated capital markets' transactions partners, while Cristián Lagos is an experienced counsel. Nicolás Aspillaga and María Jesús Argandoña are the associates to note.

Chile > Competition and antitrust Tier 1

Fielding a sizeable, 23-strong free competition and economic regulation practice, Claro & Cia. is consistently sought out for high-stakes matters involving collusion, price discrimination, and horizontal and vertical integration issues. The firm also houses a go-to team for complex merger-control work. The principal figures are renowned litigation and arbitration specialist Cristóbal Eyzaguirre; and José Miguel Huerta, whose track record encompasses high-profile investigations into mergers and cartels. The second line of key advisers features antitrust, litigation and arbitration practitioner Santiago Bravo, a former international associate at Cleary Gottlieb Steen & Hamilton's New York office; and Álvaro Vives (a partner since early 2022), whose antitrust experience includes government investigations and judicial proceedings involving cartels, abuse of dominance, merger control and regulatory recommendations. Within the associate pool, Juan Pablo Celis assists with government enforcement proceedings and investigations, while Tomás Kreft's practice covers antitrust law, in addition to litigation and arbitration.

Chile > Corporate and M&A Tier 1

Widely-lauded for its sophistication, Claro & Cia. is particularly well known for its M&A work involving publicly-listed clients. The large practice is routinely mandated to advise on significant acquisition agreements, in relation to cross-border mergers, share and asset deals, takeovers and exchange offers; and the team’s expertise covers due diligence and structuring work, along with negotiations and complex drafting. The department’s principal figures include senior partner and renowned M&A specialist José María Eyzaguirre B who advises on cross-border deals, tender offers, public transactions and corporate governance; Rodrigo Ochagavía, whose track record is particularly strong as regards energy sector-related clients including generation, transmission and distribution companies; Matías de Marchena, who is experienced in M&A, corporate finance and capital markets; and cross-border transactions expert Felipe Larraín. Also key to the group, Juan José León‘s broad practice covers restructuring work, and José María Eyzaguirre F, a former visiting attorney at Shearman & Sterling LLP‘s New York office. Also of note, counsel Patricio Smart specialises in corporate law, M&A, project finance and energy. Former partner Ariel Mihovilovic  left the firm in February 2023 to become a candidate for Chile’s Constitutional Council.

Chile > Dispute resolution: arbitration Tier 1

The ‘very cohesive team' at full-service law firm Claro & Cia. has an enviable market reputation for its involvement in major domestic and international arbitrations. The 30-strong department is routinely mandated for arbitral proceedings that arise under the rules of CAM Santiago, ICC, and ICSID, as well as London Court of International Arbitration (LCIA) matters; and several of the firm’s practitioners are well-known CAM Santiago arbitrators. The principal figures are renowned senior partner and disputes specialist, Jose María Eyzaguirre G; Cristóbal Eyzaguirre, who has deep expertise in multi-front litigation and arbitration; energy arbitration expert Nicolás Luco; and Felipe Ossa, whose track record includes acting as either counsel or arbitrator in ad-hoc proceedings, as well as arbitrations under the remit of CAM Santiago, ICC, ICDR, ICSID, LCIA, and the Lima Chamber of Commerce. The practice group also houses José Miguel Huerta, an expert in commercial arbitration as well as litigation, antitrust and bankruptcy; and arbitration partners Santiago Bravo and Álvaro Vives. Senior associate Felipe De Marinis also frequently appears before national and international arbitration venues.

Chile > Dispute resolution: litigation Tier 1

Housing ‘expertise in complex, cross-border, multi-jurisdictional litigation', the disputes team at full-service legal powerhouse Claro & Cia. is consistently sought out to handle high-stakes commercial court litigation, international disputes, and national and international arbitration. Major clients additionally turn to the sizeable practice for its white-collar crime credentials. The principal figures are renowned civil and commercial litigation specialist, Cristóbal Eyzaguirre, whose broad practice extends to antitrust, competition and bankruptcy-related matters; deeply experienced senior partner José María Eyzaguirre G , whose expertise stretched across both litigation and arbitration; Nicolás Luco, who is particularly active in major energy disputes; arbitration and international litigation practitioner Felipe Ossa; and José Miguel Huerta, whose track record includes disputes in the US and Europe, as well as in Chile. Additional practitioners of note include key litigators Santiago Bravo (civil and commercial litigation, arbitration and antitrust); Álvaro Vives, who was raised to the partnership in 2022; recently promoted counsel Javier Rodríguez, and -at associate level- Tomás Kreft and Juan Pablo Celis. Former associate Ignacio Orellana departed the firm in August 2022 to study at Harvard Law School.

Chile > Projects and infrastructure Tier 1

Claro & Cia.’s large project finance and development practice has an enviable market reputation for its energy and infrastructure sector experience; more generally, its expertise ranges from project financing, development and construction issues, to operations, acquisitions, sales, and infrastructure-related public concessions. The firm’s broad offering also covers greenfield and brownfield projects, along with power plants, transmission lines and substations. It additionally houses experts in engineering, procurement and construction (EPC), and operation and maintenance (O&M), agreements. The department’s principal figures are Rodrigo Ochagavía, who acts for energy sector-related generation, transmission and distribution companies; project finance specialists Jorge Martín and José María Eyzaguirre F; and José Luis Ambrosy and Luisa Núñez, whose broad practices take in advice on projects involving public works-related concessions in Chile. Also noted, counsel Patricio Smart's broad practice takes in EPC, construction contracts and disputes, energy and real estate matters. Former partner Ariel Mihovilovic left the firm in February 2023 to become a candidate for Chile’s Constitutional Council.

Energy and natural resources > Electricity and hydrocarbons

Full-service market stalwart Claro & Cia. is consistently mandated on high-stakes energy projects, with the firm’s sizeable team covering development, construction, acquisition, sale and financing aspects. Its track record incorporates hydro, wind and solar power plants, liquified gas terminals, gas plants, and transmission lines and sub-stations. Other areas of strength include regulatory work and energy sector-related litigation and arbitration. The practice’s principal figures are Rodrigo Ochagavía, who acts for generators, and transmission and distribution companies; and corporate finance, capital markets, international finance and M&A expert, José Luis Ambrosy. Also integral to the firm’s offering are experienced partners Luisa Núñez and José María Eyzaguirre F. Former partner Ariel Mihovilovic  left the firm in February 2023 to become a candidate for Chile’s Constitutional Council-Region of Magallanes and Chilean Antartic.

Chile > Intellectual property Tier 2

Full-service law firm Claro & Cia. fields an IP practice with enviable expertise in patents, brands, and the IP aspects of software, advertising, data protection, consumer law, and unfair competition. Other areas of strength include the IP side to transactions and regulatory issues. The firm also houses industry specialists in cosmetics, mining, pharma, technology and tobacco, along with agriculture, food and beverage, and clothing and footwear. Heading up the practice, Felipe Claro is a well-known IP expert; and advising on the protection of IP portfolios at both international and national levels, the practice of recently-promoted partner Paulina Bardón covers trade marks, patents, geographical indications, copyright, software and internet issues. Within the associate ranks, senior Claus Krebs assists with patent and trade mark issues, while Mahish Sadarangani, Trinidad Rojas and Bryan Kernitsky also maintain active IP practices.

Chile > Tax Tier 2

‘Able to handle complex technical matters’, Claro & Cia.‘s ‘excellent’ tax team is consistently mandated to advise on the tax aspects of M&A, capital markets, banking and project finance transactions. It is also increasingly involved in high-stakes tax disputes before the tax courts (particularly as a result of Chile’s recent tax reforms). ‘One of the Chilean market’s best tax advisers’, practice head Jorge Carraha has enviable experience in advising on the tax side to headline deals; and recently-promoted Nicolás Maturana assists with the tax issues surrounding M&A, financing and capital markets transactions, and corporate reorganisations. At senior associate level, Javier Pérez is particularly experienced in the tax aspects of transactions and reorganisations; however, former fellow senior Rafael Cruzat left the firm in May 2023 to establish his own practice.

Chile > Environment Tier 3

The seven-strong environmental law team at full-service firm Claro & Cia. is regularly sought for its assistance with the environmental aspects of major projects. Clients, such as Anglo American Sur, InterEnergy Holdings and Biomar Chile, further benefit from the group’s sector expertise in energy, mining, forestry, agriculture, and water resources. The team features Nicolás Eyzaguirre, who acts for both domestic and international clients on natural resources and environmental law, along with energy, M&A, and litigation; recently-promoted partner Joaquín Rodríguez, whose career includes a stint as visiting lawyer in Sullivan & Cromwell LLP‘s New York office; and senior associate Tomás Darricades, a former litigator for Chile’s Environmental Protection Agency.

Energy and natural resources > Mining Tier 4