Firm Profile > Morales & Besa > Santiago, Chile

Morales & Besa
3477 ISIDORA GOYENECHEA AVENUE, 19TH FLOOR
7550106 LAS CONDES
SANTIAGO
Chile

Banking and finance Tier 1

Morales & Besa's 'truly professional and hardworking team has deep knowledge of Chilean legal issues'. It fields experts in restructuring, syndicated loans, structured finance, derivatives, regulatory matters and distressed debt, and it is experienced in industries such as retail, real estate, mining, energy, utilities and infrastructure. In project finance, the group acts for developers, sponsors, lenders, multilateral institutions, guarantors and EPC contractors on project structuring, financing, and construction and contractual issues. On the non-transactional side, the group regularly assists companies with licensing, regulatory and compliance matters. Notable clients include Enjoy, Los Guindos Generación, Banco BICE and Japan's SMBC. Myriam Barahona and José Miguel Carvajal are the department heads; recent mandates saw Barahona lead advice to BCI Asesoría Financiera concerning syndicated loans granted to two companies of the Vías Chile Group; and Carvajal assist Banco de Crédito e Inversiones with the amendment of the outstanding debt of CorpGroup holding group members. Other matters saw name-partner Guillermo Morales, who is 'one of the first lawyers clients in Chile should call with difficult questions', act for retail conglomerate Cencosud, as borrower, on a loan facility granted by EDC to refinance existing indebtedness. Co-founding partner Eugenio BesaCarlos Silva and Matías Langevin (who is 'very focused on the key details that can often make or break capital markets deals') are also all highly-regarded practitioners. At senior associate level, Ignacio Menchaca and Javier Balbontin are the key names; former senior associate Ignacio Delpino moved in-house to Banco Security.

Projects and infrastructure Tier 1

Morales & Besa is 'speedy, efficient and adapts to clients' needs'. The 10-strong practice has a strong reputation in the market for its assistance to financiers, investors and developers with the development and financing of energy and infrastructure projects. Key clients include Intervial, WPD Chile, Banco Security, Globalvía and Meridiam Infrastructure; the team is representing the latter, a major infrastructure investor and the concessionaire of a major, $200m hospital project in relation to issues caused by the insolvency of Italy-based constructor Astaldi. It also advised EIG Global Energy Partners, and its Chilean subsidiaries, on a $127m project financing for the Cerro Dominador power plants project. Carlos Silva (infrastructure and energy projects development), José Miguel Carvajal and Myriam Barahona (both focusing on project finance) head the practice. Also highly regarded are Eugenio Besa (transactions, project finance) and Macarena Laso (public concessions, real estate, construction and infrastructure), while notable associates include James Channing (construction, real estate, project finance), who 'does a good job', Javier Balbontín (project finance), and Sebastián Leyton (energy, natural resources, projects).

Corporate and M&A Tier 2

Morales & Besa 'takes the time to explain things in detail to its clients'. The 28-strong practice has significant cross-border transactional experience and is particularly noted for the sale of state-owned enterprises and handing concession award bids to operate state-controlled activities; it also regularly assists with significant corporate governance matters, strategic associations and corporate restructuring, as well as the design and implementation of compliance programmes, anti-corruption policies and self-regulation. Recent mandates saw the team act for the shareholders of Aguas Chañar on the company's $100m sale to Marubeni and Toesca Asset Management; advise two SMU subsidiaries on the $76m sale of Construmart to Private Investment Fund Hammer; and assist AAS and Acciona Aeropuertos on the acquisition of Latam Airlines Group's ground handling business at Santiago’s International Airport. Founding partners Guillermo Morales and Eugenio Besa co-head the team; Macarena LasoCarlos Silva, Michel Diban, Matías Langevin and Álvaro Barriga are also experienced partners. An excellent professional', Edmundo Varas was promoted to partner; and Lorena Barrientos became the firm's first-ever counsel. Associate María Teresa Manubens B is also noted. Clients include Cencosud, Bank of America Merrill Lynch, Acciona Airport Services (AAS), Globalvía and The Carlyle Group.

Competition and antitrust Tier 3

The five-strong team at Morales & Besa focuses on antitrust litigation and FNE investigations, pre-merger filings and compliance advice. Headline work saw the team successfully advise Iron Mountain and Storbox on the subsciption of a conciliation agreement with the FNE, thereby ending a $1m litigation for an alleged breach of an extrajudicial settlment agreement; on the merger-clearance front, it assisted Praxair with the FNE clearance of ithe Chilean aspects of its $80bn global merger with Linde, among other matters. The practice is co-lead by Gonalo Cordero and former FNE anti-cartel unit head at the FNE, senior associate María José Henríquez.  Also formerly at the FNE, mid-level associate Claudia Arce -who arrived at the firm in January 2018- is noted. Clients include Abertis Infraestructuras, SSA Holdings International Chile; Acciona Aeropuertos, SMU and EIG Global Energy Partners.

Environment Tier 3

Morales & Besa 'has a strong environmental law team that understands the legal aspects of environmental, social and community issues'. The six-strong practice group handles matters including administrative proceedings involving compliance with environmental regulations, sanctioning before the authorities and courts, project-related EIAs, and environmental legal audits. Recent work saw the team successfully assist the Chilean branch of France's ParexGroup with the granting of environmental permits for its Lampa manufacturing plant in Santiago. A former head of the Environment Ministry's legal division, 'dedicated' senior associate Paloma Infante M is head of the department with partner-level support provided by infrastructure specialist Carlos Silva. Key clients include Astaldi Chile, Comsa Energías Renovables, BHP and Cencosud.

Mining Tier 3

Morales & Besa advises on the establishment of mining property rights and incorporation of mining entities, mining agreements, permits, project financing and administrative law issues. The team recently advised BHP subsidiary MEL, on mining agreements with Orica Chile. Eugenio Besa heads the department and Lorena Barrientos is an experienced counsel. Other clients include Arena Minerals and BHP.

Real estate Tier 3

For some clients, Morales & Besa's real estate and construction lawyers are 'the best in class in every aspect of their work and a dedicated, well-prepared group of individuals'. They frequently work alongside the firm's regulatory, banking and finance, tax, and energy practices, with representative work including purchases, sales, leases, financing, developments, construction, zoning regulations and title review. Recent work included advising VivoCorp, CorpGroup's real estate subsidiary, on a potential association with life insurance company Confuturo to develop a shopping mall. Carlos SilvaMacarena Laso and associate James Channing are the individuals to note.

Dispute resolution Tier 4

Morales & Besa's 'thorough and knowledgeable practice' covers civil and commercial litigation, arbitration, construction disputes, antitrust claims, administrative law litigation, and white-collar matters. The client list includes Banco de Crédito e Inversiones, Sociedad Concesionaria Metropolitana de Salud, Universidad de Chile and ABB Chile. The nine-strong team's recent work included representing Santiago airport concessionaire Nuevo Pudahuel in a $300m royalty-related dispute against the Ministry of Public Works. Practice head Gonzalo Cordero and senior associate Orlando Palominos are the names to note.

Labour and employment Tier 4

Morales & Besa is 'appreciated for the practical application of its knowledge'. The team covers collective bargaining, litigation, compliance, corporate labour advice and immigration law. Other areas of note are social security, pensions, health and safety and work accidents, and individual and collective employment contracts. Recent matters include the team's successful advice to three of Intervial Chile's subsidiaries in recent collective bargaining procedures. Gonzalo Cordero and senior associate Angelina Migliorelli are the key contacts; Fernando Arab left to become Undersecretary of the Labour Ministry.

Tax Tier 4

Morales & Besa's tax practice covers matters including tax planning, litigation and compliance, as well as other IRS-related administrative matters, but has a particular focus on foreign direct investments and cross-border project finance in the energy and infrastructure sectors.  Recent work included assisting EIG Global Energy Partners and its Chilean affiliates with the tax aspects of project and financing agreements. Francisca Pérez is 'an excellent lawyer and tax expert', and Jaime Rosso is a key senior associate; former senior associate María José Becker S moved in house as general counsel of Ferrovial (Chile).

Electricity/oil and gas

Morales & Besa 'provides its clients with a very positive experience'. Perhaps best known for transactional energy matters the practice nevertheles advises on all development, construction, financing and operational phases, including PPAs, interconnection and tolling agreements, and fuel supply, as well as EPC and O&M contracts. Highlight work included advising X-Elio (a global company that specialises in the development, design, construction, maintenance and operation of photovoltaic plants), on interconnection and tolling agreements for the Uribe Solar PV plant. Eugenio Besa's 'experience is invaluable and he is a good negotiator', Carlos Silva is also a key contact, and the 'very supportive' Sebastián Leyton and Verónica Vergara, who 'has great vision', are both experienced associates. Clients include EIG, Sonnedix, WPD, Crea Energía and Acciona Energía.

Morales & Besa was established in 1992 by a group of leading professionals in the fields of corporate, finance and tax law and has been at the forefront of the legal profession in Chile ever since, notably in cross-border transactions. It offers in-depth expertise in complex legal matters and unrivalled execution capabilities, and adheres to the highest professional standards.

Morales & Besa is a premier full-service Chilean law firm with leading market practices, a global outlook and strong Latin American ties across multiple industries. The firm delivers effective and creative results for its clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.

Practice areas

Banking and finance: the firm acts for most of Chile’s national banks as well as some of the leading international players. It advises in all areas of investment banking and finance, including corporate finance, leveraged buyouts, structured finance, project finance, derivatives, distressed debt and restructuring, commercial lending and syndicated loans.

M&A: the firm is recognized as being among the leading mergers and acquisitions legal advisors in Chile. It regularly advises international and domestic buyers and sellers in acquisitions and takeover processes, acting on emblematic and complex deals. Morales & Besa is a leading advisor on tender offers in Chile and it has represented international buyers and the government of Chile in major privatizations.

Capital markets: the firm advises on debt and equity securities offerings (including offerings made by the Republic of Chile), securitization and domestic and international listings of companies. The firm has particular expertise in the areas of asset management and venture capital law.

Taxation: Morales & Besa has extensive experience in devising and implementing creative tax solutions to address the particular needs of complex business structures.

Intellectual property: the firm advises on all kinds of intellectual property issues, infringement disputes and all other aspects of IP law. The firm is actively involved in the structuring and negotiation of licensing agreements and technology transfer agreements.

Litigation, arbitration and ADR: the firm’s group of highly skilled litigation practitioners represents the firm’s clients in a variety of civil, commercial, tax, antitrust, white-collar crime and other specialized litigation. The group has experience and is familiar with domestic and international arbitration proceedings and the enforcement of foreign awards in Chile. In the area of alternative dispute resolution its attorneys are active, particularly in large infrastructure projects and engineering contracts.

Employment: the firm has developed a strong employment law practice, leading collective bargaining processes, advising international corporations on issues concerning their Chilean employees and defending the interests of clients before the employment courts.

Real estate: the real estate practice group has advised on major projects, such as the construction of the tallest building in South America, and has extensive experience advising real estate investment companies.

Antitrust: Chile actively enforces its antitrust laws and the firm’s lawyers undertake antitrust, competition and marketing-related cases involving companies in the Chilean market.

Energy, public utilities and infrastructure: Morales & Besa plays an active role in the development and deregulation of the Chilean energy, utilities and infrastructure sectors.

Criminal: the firm has a multidisciplinary team specialized in highly complex litigation for white collar, tax crime, cybercrime, anticorruption, criminal antitrust, antimony laundering and breaches of industrial and intellectual property regulation. The team has successfully represented domestic and international clients achieving criminal landmark judgments before the Chilean Courts of Justice.

Regulation and environment: Morales & Besa has comprehensive experience in environmental and regulatory matters related to all types of investment projects. This knowledge is applied to several areas such as legal due diligence, environmental impacts assessment system, environmental sanctioning proceedings, sectorial permits and – generally – to all matters concerning relevant government agencies. This practice also allows the firm to enrich other areas and achieve complete legal advice.

Department Name Email Telephone
Banking and finance José Miguel Carvajal E: jmcarvajal@moralesybesa.cl
Banking and finance Myriam Barahona E: mbarahona@moralesybesa.cl
Capital markets Guillermo Morales E: gmorales@moralesybesa.cl
Capital markets José Miguel Carvajal E: jmcarvajal@moralesybesa.cl
Capital markets Matías Langevin E: mlangevin@moralesybesa.cl
Corporate – M&A Guillermo Morales E: gmorales@smoralesybesa.cl
Corporate – M&A Eugenio Besa E: ebesa@moralesybesa.cl
Corporate – M&A Carlos Silva E: csilva@moralesybesa.cl
Corporate – M&A Matías Langevin E: mlangevin@moralesybesa.cl
Corporate – M&A Álvaro Barriga E: abarriga@moralesybesa.cl
Corporate – M&A Michel Diban E: mdiban@moralesybesa.cl
Corporate – M&A Macarena Laso E: mlaso@moralesybesa.cl
Corporate – M&A Edmundo Varas E: evaras@moralesybesa.cl
Employment Gonzalo Cordero E: gcordero@moralesybesa.cl
INTELLECTUAL PROPERTY Edmundo Varas E: evaras@moralesybesa.cl
Litigation/antitrust Gonzalo Cordero E: gcordero@moralesybesa.cl
Projects and energy Carlos Silva E: csilva@moralesybesa.cl
Tax Francisca Pérez E: mfperez@moralesybesa.cl
Photo Name Position Profile
Mr Javier Balbontín  photo Mr Javier Balbontín
Ms Myriam Barahona  photo Ms Myriam Barahona
Ms Lorena Barrientos  photo Ms Lorena Barrientos
Mr Álvaro Barriga  photo Mr Álvaro Barriga
Mr Eugenio Besa  photo Mr Eugenio Besa
Mr José Miguel Carvajal  photo Mr José Miguel Carvajal
Mr James Channing  photo Mr James Channing
Mr Gonzalo Cordero  photo Mr Gonzalo Cordero
Mr Marco Correa  photo Mr Marco Correa
Ms Andrea Díaz  photo Ms Andrea Díaz
Mr Michel Diban  photo Mr Michel Diban
Mr Juan Ignacio Eymin  photo Mr Juan Ignacio Eymin
Ms Maria José Henríquez  photo Ms Maria José Henríquez
Ms Paloma Infante  photo Ms Paloma Infante
Ms Katannya Jablonski  photo Ms Katannya Jablonski
Ms Macarena Laso  photo Ms Macarena Laso
Mr Sebastián Leyton  photo Mr Sebastián Leyton
Mr Ignacio Menchaca  photo Mr Ignacio Menchaca
Ms Angelina Migliorelli  photo Ms Angelina Migliorelli
Mr Guillermo Morales  photo Mr Guillermo Morales
Mr Orlando Palominos  photo Mr Orlando Palominos
Mr Guillermo Pizarro  photo Mr Guillermo Pizarro
Mr Jaime Rosso  photo Mr Jaime Rosso
Mr Carlos Silva  photo Mr Carlos Silva
Mr Edmundo Varas  photo Mr Edmundo Varas
Ms Rebeca Zamora  photo Ms Rebeca Zamora
Other fee-earners : 72
Total staff : 105
Partners : 12

Firm Overview:
Established in 1992, Morales & Besa is a premier fullservice Chilean law firm with leading market practices, a global outlook and strong Latin American ties across multiple industries. The firm delivers effective and creative results for its clients’ most important legal challenges, applying clear commercial judgement and a distinctively collaborative approach. The team offers in-depth expertise in complex legal matters and unrivalled execution capabilities, and adheres to the highest professional standards.

Core Values:
From the very beginning ethics, integrity, and confidentiality have been the foundation of Morales & Besa. With its strong emphasis on teamwork, Morales & Besa expect its employees to maintain the highest ethical standards in everything they do. The firm is committed to achieving effective results for its clients, who can be assured that the firm’s approach in everything it undertakes is grounded in professionalism & client service. Morales & Besa are at the forefront of international transactions and legal development in Chile for a reason — the firm’s global outlook. Morales & Besa’s perspective requires its lawyers to think innovatively and consider the impact on the domestic and international legal landscape when delivering unique solutions for its clients.

Main Areas of Practice:

Antitrust:
The firm has a strong antitrust/competition practice. Morales & Besa combines knowledgeable and agile antitrust lawyers, who are experienced advising companies in pre-merger review and in complex investigations and litigation before Chilean Competition Agencies.

Banking & Finance:
The firm is a leader in all areas of commercial and investment banking, including corporate lending, leveraged buyouts, structured finance, project finance, derivatives, distressed debt and restructuring, commercial lending and syndicated loans.

Capital Markets:
The firm regularly advises all major investment banks, securities firms and issuers in the structuring and execution of debt and equity offerings, securitisation of assets, listing of companies, domestically and internationally, capital markets regulation and related compliance matters.

Corporate & M&A:
The firm has in-depth knowledge of the development of sophisticated corporate structures, business combinations, joint ventures and shareholder arrangements, especially in the context of foreign direct investments. It advises international and domestic buyers and sellers in acquisitions and takeover processes of private and listed companies across all industry sectors. Its privatisation practice group has represented international buyers and the government of Chile in all major transfers of Chilean state-owned assets and enterprises.

Criminal Law & Compliance:
The firm has a multidisciplinary team specialised in highly complex litigation for white-collar, tax crime, cybercrime, anticorruption, criminal antitrust, antimoney laundering and breaches of industrial and intellectual property regulation.

Energy, Public Utilities & Infrastructure:
Morales & Besa plays an active role in the continuing development and deregulation of the Chilean energy, utilities and infrastructure sectors. The firm has experience in the regulatory framework of infrastructure, public works, concessions, power generation, transmission and distribution, fuel transportation and distribution, water and sewage and public works.

 IP & Data Protection:
The firm advises on all kinds of IP issues, infringement disputes and all other aspects of IP law. The firm also advises in issues related to data privacy and IT.

Labour:
The team has experience in leading collective bargaining processes, advising international corporations with their employees in Chile and defending the interest of their clients before the labour courts.

Litigation, Arbitration & ADR:
The firm represents clients in a variety of civil, commercial, tax, antitrust and other specialised court litigation, including experience in domestic and international arbitration proceedings and the enforcement of foreign awards. In the area of alternative dispute resolution its attorneys are active in large infrastructure projects and engineering contracts.

 Mining:
Morales & Besa’s team has advised numerous domestic and international companies in all stages of their mining projects, from the establishment of mining property rights (concessions), to the construction and operation of their projects.

Pro Bono:
Pro bono is an integral part of the firm’s practice — just as Morales & Besa has a duty to represent its clients, the firm believes it also has an obligation to represent those without a voice. Morales & Besa is passionate about sharing our skills and expertise to enable change for good.

Projects & Infrastructure:
Every project has a unique set of circumstances and characteristics, which is why we keep flexibility in our approach while being diligent and meticulous. Morales & Besa know that all projects require not only expert attention to detail, to ensure regulations are met, but also innovative thinking to ensure the project is fully finished and functioning.

Real Estate & Construction:
The real estate practice has advised major projects such as the tallest building in South America and has extensive experience with real estate investment companies.

Regulation & Environment:
Morales & Besa has a comprehensive experience in environmental and regulatory matters related to all types of investment projects. Taxation: The firm’s tax specialists have extensive experience devising and implementing creative tax solutions to address the particular needs of complex business structures, especially in the context of foreign direct investments and cross-border financings.

International Work:
The firm acts for leading international financial and investment bank companies including Bank of America Merrill Lynch, BNP Paribas, Goldman Sachs, Morgan Stanley, SMBC, The Bank of China, Banco Santander and Banco Itaú— to name but a few. It also advises leading multinational companies including Acciona Energía, Accel-KKR, Koch Industries, Hitachi, EIG Global Energy Partners, Meridiam Infrastructure, Ferrovial and Iron Mountain, among others. All of the firm’s lawyers speak fluent English; many of them have undertaken secondments or postgraduate studies in the United States, Europe or Australia.

Department Name Email Telephone
Guillermo Morales gmorales@moralesybesa.cl +56 2 2472 7007
Eugenio Besa ebesa@moralesybesa.cl +56 2 2472 7017
Espanol
English
Portuguese
French