Morales & Besa > Santiago, Chile > Firm Profile

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

Chile > Banking and finance Tier 1

Morales & Besa's 14-strong banking and finance team 'works with dedication and haste, always considering the interests and urgencies of clients'. It has vast experience in syndicated loans, structured and project finance, derivatives, regulatory matters and acquisition/LBO financing; the group also consistently leads on complex, cross-border financings. The firm additionally houses energy (particularly renewables), utilities, infrastructure, retail, real estate and mining sector specialists, handling financings in all these sectors; and in 2020 it played a leading market role in relation to debt restructuring. The practice co-heads are José Miguel Carvajal ('great ability to understand complex legal problems'), who advises on syndicated local and international loans, project finance and debt restructuring; and with two decades of experience, Myriam Barahona ('probably one of the best lawyers in Chile for banking and finance') who focuses on domestic and international deals, including project finance. Providing support is young associate Bernardo Mora, whose experience includes advising both financial institutions and corporates on financings.

Practice head(s):

José Miguel Carvajal; Myriam Barahona

Testimonials

Proactive lawyers who focus on the objectives required by the client.

Comprehensive attention at every stage to achieve successful closings in a short time.

Complete understanding and command of the topics under discussion.

What makes the M&B practice unique is that all its lawyers work with dedication and haste, always considering the interests and urgencies of clients.

They have detailed knowledge of transactions at all levels.

Very knowledgeable and efficient team under the leadership of exceptional partner Myriam Barahona – efficient delivery and they always offer complete and timely solutions.

The great plus that M&B has on the banking and finance side is its partner Myriam Barahona, who is probably one of the best lawyers in Chile for banking and finance. Her best qualities are the rigorous advice and speed with which she can resolve difficult issues.

Myriam Barahona provides an outstanding level of attention, demonstrating constant concern for clients’ needs; and José Miguel Carvajal has great ability to understand complex legal problems.

Key clients

Enel Generación Chile

Banco del Estado de Chile

Sumitomo Mitsui Banking Corporation

Banco Santander Chile

Banco Security

Banco BICE

Banco de Crédito e Inversiones

DNB Bank

CaixaBank

Sonnedix

Enjoy

Scotiabank Chile

Itaú Corpbanca

Work highlights

  • Advised an international syndicate of banks (comprising BBVA – New York Branch, Bank of Nova Scotia and Crédit Agricole) on the granting to Enel Americas of an unsecured credit facility for general corporate purposes.
  • Advised Banco de Crédito e Inversiones on a refinancing granted to Prime Energía Quickstart.
  • Advised Enjoy (currently undergoing a reorganisation proceeding under Chilean insolvency law) on the financing to four of its subsidiaries, which related to the renewal of banking guarantees.

Chile > Capital markets Tier 1

Consistently sought out to advise on complex, large and challenging transactions, Morales & Besa's five-member capital markets department has 'great experience and knows the regulations and their application very well'. In addition to the firm's transactional work for underwriters and issuers of securities, the group acts for domestic and global private equity funds and asset managers. It additionally provides specialised regulatory advice, predominantly to global investment banks, stockbroker firms, investment funds and depositaries. With longstanding experience, founding partner Guillermo Morales' broad corporate finance practice includes domestic and cross-border capital markets transactions, debt and equity offerings, liability management transactions, IPOs and follow-on offerings; while co-department head José Miguel Carvajal's experience includes financing companies through bond and commercial paper issuances. The promotion of Andrea Díaz, director of the capital markets regulation sub-practice, to the partnership in July 2021 completes the partner line up.

Practice head(s):

Guillermo Morales; José Miguel Carvajal

Testimonials

A consolidated team with great capacity for innovation.

The team has great experience and knows the regulations and their application very well.

They have a lot of experience in different matters, which allows them to provide complete advice to the client.

The capital markets team has been specialising in these matters for several years, which mean they deliver their answers and opinions with confidence, providing a very good level of advice to the client.

They carry out the work with great enthusiasm, are committed and become part of the client’s needs – outstanding teamwork and relationship with the client.

A team that is on top of the issues and concerned about each detail of each operation; it is professional, and quick to deliver assertive answers.

I would highlight the work of Guillermo Morales and senior associate Andrea Díaz, who are both always ready to help the client and deliver the best solution – very kind, committed people with a lot of knowledge and experience in the stock markets.

Senior associate Andrea Díaz has great knowledge of the market and innovative structures.

Key clients

The Republic of Chile

Enjoy

Cencosud

Viña San Pedro Tarapacá

SMU

Parque Arauco

Empresas Hites

AVLA

LarrainVial

Apollo Global Management

Wenco

Work highlights

  • Advised the Republic of Chile on several high-profile environmental, social and corporate governance financial operations.
  • Advised Enjoy (undergoing a reorganisation proceeding in Chile) on the issuance of new bonds to reflect its debt restructuring, and their subsequent exchange for outstanding bonds and local commercial papers.
  • Advised AVLA, as issuer, on the voluntary prepayment offer of outstanding commercial papers (Series F1, J1, D1, D2, G1, G2, G3 and H1) and the placement of its Series A inaugural bonds.

Chile > Projects and infrastructure Tier 1

The transactional practice for Morales & Besa‘s sizeable 22-strong group (‘focused lawyers with great experience in projects‘) is consistently involved in high-end projects, including structuring, development, acquisition, sale and financing matters. The firm’s robust regulatory practice advises on due diligence processes, bidding participation, negotiating with the authorities, and litigation. The client base includes entities from several regulated sectors, such as energy, construction, public works and sewage water. Regularly leading multidisciplinary teams, infrastructure and energy specialist Carlos Silva advises on a project’s full chain; José Miguel Carvajal is a banking and finance expert; Myriam Barahona (‘outstanding problem-solving abilities‘) focuses on banking, finance and project finance work; and Macarena Laso is real estate and construction head. Strong support is provided by public works concessions and regulatory expert Katannya Jablonski. Former senior associate Javier Balbontín left the firm in January 2021, since when -in May- the firm has hired Macarena López  from Molina Ríos Abogados. Since publication, the firm has hired mining and environmental practitioner Aldo Cardinali (from Infante Valenzuela Molina Abogados) as a partner – effective as of Janaury 2022; his practice also encompasses project development matters.

Practice head(s):

Carlos Silva

Testimonials

Focused lawyers with great experience in projects -the quality of the work is also excellent.

Solid teams, with excellent command of the subjects they advise on.

Constantly available with clear and complete explanations. Unlike other firms,, there is a 24/7 approach towards solving problems.

The M&B team stands out for its knowledge of project finance in Chile.

Highly knowledgeable about the public works concessions industry – this team stands above teams from other law firms.

The accessibility of the partners and associates stands out, in addition to the analytical capacity they have.

What makes this practice unique is its experience and knowledge of concessions in Chile.

Myriam Barahona has outstanding problem-solving abilities.

Key clients

Sungrow

Engie Latam

Scatect Solar

Banco Security

Corporación Interamericana para el Financiamiento de Infraestructura

Dutch Investment Fund Capital Partners

Ferrovial

Sonnedix

Sociedad Concesionaria Nuevo Pudahuel

Sociedad Concesionaria Metropolitana de Salud

Efacec

ISA Intervial

EIG Global Energy Partners

WPD

Meridiam Infrastructure

DNB Bank ASA

Work highlights

  • Advising Sociedad Concesionaria Nuevo Pudahuel on the construction  and operation of a new terminal at Santiago Airport, including recent bidding processes and financing matters.
  • Advised an international banking consortium (comprising IDB Invest, KfW IPEX-Bank, DNB, CaixaBank and MUFG) on the senior financing for the construction of a renewable energy portfolio.
  • Advised a syndicate of banks and insurance companies (including Banco de Crédito e Inversiones and Principal Compañía de Seguros de Vida Chile) on the construction financing granted to Belfi-Belsaco Consortium for a toll road concession.

Chile > Bankruptcy, insolvency and restructuring Tier 2

Morales & Besa‘s eight-member insolvency, restructuring and reorganisation team is able to leverage off the firm’s widely respected banking and finance, capital markets and projects practices and has been particularly active in relation to situations faced by companies operating in Chile further to the Covid-19 pandemic, of late. The restructuring side of the practice is led by partners José Miguel Carvajal and Myriam Barahona, who also co-lead the banking and finance group. As to insolvency and bankruptcy work, Barahona is joined as co-head by partner Gonzalo Cordero, whose two decades of dispute resolution experience includes insolvency and bankruptcy procedures. The partners also receive strong support at senior associate level from Orlando Palominos , who is a go-to person for insolvency issues; and Juan Ignacio Eymin, whose litigation experience includes bankruptcy. Since publication, Palominos has moved to Lembeye Abogados - effective as of Janaury 2022.

Practice head(s):

Gonzalo Cordero; Myriam Barahona

Testimonials

A team with a lot of knowledge and experience in this area.

Provides excellent advice. I would highlight the knowledge, not only of bankruptcy but also in stock market matters, which makes the advice more complete.

They stand out for being an efficient team, with very good organisation among them and an excellent quality of work.

The Morales & Besa team not only has very good knowledge in these matters, it is also characterised by an understanding of clients’ needs and for always looking for the best solution; they are always ready to collaborate and advise in the most appropriate way.

The practice stands out for its excellent performance in terms of financial restructuring.

They stand out for their availability as well as the ability to adjust teams quickly as required.

Key clients

Enjoy

Official Unsecured Creditors Committee of Latam Airlines

Sociedad Concesionaria Metropolitana de Salud

Constructora Brotec

Safira Energy

Constructora Ingevec

ABB Chile

Corporación Interamericana para el Financiamiento de Infraestructura

Work highlights

  • Advised the Official Unsecured Creditors Committee of Latam Airlines’ Chapter 11 proceeding, reportedly the largest cross-border insolvency proceeding ever conducted in Chile.
  • Advised Enjoy on a reorganisation proceeding, involving the restructuring of its assets and liabilities, which included, both local and US bonds, credits with banks and other debts.
  • Advising Corporación Interamericana para el Financiamiento de Infraestructura (as main creditor) on Itelecom’s reorganisation proceedings.

Chile > Corporate and M&A Tier 2

Fielding 'an excellent team with vast experience', Morales & Besa's 23-strong corporate and M&A practice has longstanding experience in advising domestic and international companies from a wide range of industries, including infrastructure, energy, technology, mining and construction, among others; it handles both private and public M&A transactions for strategic buyers, investment banks and private equity funds, principally in Chile. Among the several experienced practitioners are name partners Guillermo Morales (acquisitions and sales, public tender offers, mergers, restructurings and corporate finance); and Eugenio Besa (commercial, financial and foreign investment matters). Also integral to the practice are M&A expert Michel Diban ('very good negotiation skills'), Macarena Laso (mergers of publicly listed companies), and corporate and commercial specialist Álvaro Barriga. Associate Vicente Valdés re-joined the team in 2020 after working as a foreign associate at Dechert LLP's New York office, but former senior associate Guillermo Pizarro moved in house (in the asset management sector) in January 2021.

Practice head(s):

Guillermo Morales; Eugenio Besa; Michel Diban

Testimonials

Good availability and knowledge of the specific regulations of each sector, with partners who are more involved than at other local law firms.

Very efficient in supporting our company during different investment processes. In addition to excellent legal support, they also provide commercial and business support.

An excellent team with vast experience and availability.

Strategic vision; contacts and network, with excellent delivery and response times.

A team with a lot of experience in M&A and well supported by different specialities when needed; they also have a strong business focus, which is very important when making tough decisions – way above the competitors with whom we have worked, due to the degree of dedication, focus and experience.

Morales & Besa’s corporate and M&A team must be one of the most prominent and prestigious in the country – they have participated in the most relevant operations and in different markets, and guarantee first-rate experience and professionalism.’

Michel Diban is is permanently involved. A lawyer with experience in the field and very good negotiation skills.

Álvaro Barriga prominently leads the team that advises us; his experience, management and ability to understand the particularities of specific businesses means first-rate advice; and the professionalism, competence and seriousness of the work carried out by associate Vicente Valdés also stands out.

Key clients

Accel KKR

Sonnedix

CIFI

DIF Capital Partners

Corpgroup

SMU

Vivocorp

Stars Investment

EIG Global Energy Partners

EFG Chile

Mitsubishi Materials Corporation

CIMIC

Intervial

Acciona

Sungrow

L Catterton

Enel X

E & J Gallo

Work highlights

  • Advised the Accel-KKR group on the acquisition of an HR manager technology company.
  • Advised E & J Gallo Winery on the local component of a global transaction, which involved the acquisition of over 30 brands and winemaking facilities from Constellation Brands.
  • Advised Corpgroup on the sale of several commercial assets, such as malls, outlets and a convenience store chain.

Energy and natural resources > Electricity and hydrocarbon Tier 2

The energy practice at full-service firm Morales & Besa covers transactional work (handled jointly with the firm’s projects, banking and finance, and M&A departments), as well as regulatory and commercial advice involving energy project developments. The five-member group is co-led by Carlos Silva, who focuses on the infrastructure and energy sectors, particularly PPP projects; and ‘prominent lawyer‘ and senior associate Juan Carlos Valdivieso (who was general counsel at Primer Energía until February 2020). Additional partner-level support is provided by Eugenio Besa, while associate Constanza Araya (a June-2020 arrival from Quintanilla & Busel Niedmann) advises on energy and natural resources matters. Energy-focused associate Raimundo Ruiz was hired from Bertrand-Galindo, Barrueto & Barroilhet in February 2021 following the departure of former associates Gabriela Leaño and Augusta Quiñones, who both moved in house during the course of 2020. Since publication, Valdivieso has been raised to the partnership, effective January 2022.

Practice head(s):

Carlos Silva; Juan Carlos Valdivieso

Testimonials

Deep knowledge and experience in the industry, which allows them to provide solid advice and detect complex risks in the operations upon which they advise.

The in-depth and technical knowledge of the lawyers on the team that advises us is remarkable.

Their technical knowledge of the electricity and energy market adds to the expertise of its members, which allows them to contribute with innovative solutions to various issues that ultimately facilitate project financing.

Good experience in the area of ​​energy and natural resources, especially energy.

Lawyers with commercial focus.

Senior associate Juan Carlos Valdivieso is a prominent lawyer‘.

Juan Carlos Valdivieso has unraveled many complex negotiations and stands out for his ability to negotiate and discuss complex legal issues.

Key clients

WPD

Cerro Dominador

EIG Global Energy Partners

Sungrow

Sonnedix

Coordinador Eléctrico Nacional

Prime Energía

CIFI

Acciona Energía

Banco Security

DNB Bank

Enel Generación Chile

Work highlights

  • Advised a syndicate of international banks (IDB Invest, KfW IPEX-Bank, DNB, CaixaBank and MUF) on the financing for the second phase of Mainstream Renewable Power’s Andes Renovables power generation portfolio.
  • Advised the Coordinador Eléctrico Nacional (which is responsible for the operation and co-ordination of Chile’s power grid) on the review and assessment of bids for the tender of the 2018 national transmission system expansion plan.
  • Advised a syndicate of banks (DNB Bank, Instituto del Crédito Oficial and CaixaBank) on energy and regulatory matters concerning the expansion of Parque Eólico Cabo Leones (owned by Ibereólica Renovables Chile and EDF.)

Chile > Competition and antitrust Tier 3

'Superior in technical terms to other firms', the scope of Morales & Besa's practice ranges from merger review procedures to judicial representation during litigation and regarding compliance issues. Recently promoted partner and former anti-cartel unit head at the FNE, María José Henríquez, 'provides quick and effective solutions' and heads the team; she is experienced in representing clients before the Chilean competition authorities in M&A transactions, as well as complex investigations and the litigation of anticompetitive conduct. Additional support is provided by associate Claudia Arce, who focuses on litigation, administrative investigations concerning antitrust offences, merger control, and compliance programmes.

Practice head(s):

María José Henríquez

Testimonials

The team balances a great amount of experience in merger review and litigation with innovative solutions for clients.

A very good team that is diligent and professional – it achieves results.

They are superior in technical terms to other firms with less specialised teams.

They are always available and it is easy to work with them.

Morales & Besa is meticulous, technical and with impeccable response times.

María José Henríquez has vast experience in this area, in addition to knowing the supervisory body very well, which allows her to anticipate and explain situations more fully to the client.

María José Henríquez is a brilliant partner, who easily understands her client’s business and provides quick and effective solutions. She is able to explain complex matters to clients in a very easy way, and she is very hands on and an excellent litigator.

The professional qualities of María José Henríquez really stand out; she handles matters remarkably with a high level of service.

Key clients

Peugeot

LG Electronics

CorpGroup

Naviera Orca Chile

SSA Holdings International

Caleta Bay

Luxoft USA

Iron Mountain Chile

VivoCorp

Unión Nacional de Artistas

SAAM

SMU

Servicios Portuarios Reloncaví

IGT Global Solutions Chile

Work highlights

  • Successfully represented Peugeot before the FNE in the merger processof Fiat Chrysler Automobiles and Peugeot.
  • Successfully represented Unión Nacional de Artistas before the Competition Tribunal in a non-contentious proceeding initiated by TV-broadcaster trade association, ANATEL, which concerned IP-related fees.
  • Representing IGT Global solutions before the Competition Tribunal in two proceedings, including a case concerning the regulation of the payments processing market.

Chile > Data privacy Tier 3

With ‘a very practical handling of issues‘, Morales & Besa‘ practice focuses on strategic and general data privacy advice, as well as transactions involving data privacy matters and cybersecurity. The team also assists clients with contractual matters comprising data protection issues, such as cross-border data transfers, personal data processing authorisations and agreements, and cybersecurity issues. Edmundo Varas is the ‘very committed‘ data privacy partner in charge, while associate Marco Correa is noted for data protection, IP and technology law. Since publication, however, Varas has left the firm - effective as of year’s end 2021.

Testimonials

They respond almost immediately and are always available to assist us.

They have a very practical handling of issues, and explain to us in a concise but complete way the applicable regime in Chile regarding data privacy.

The team is very good and prepared in these matters.

You can tell that the team works well together, which adds a lot of value.

Without a doubt this firm stood out in terms of how we were handled.

Obtains important results and stands out from other law firms in its dealings with clients, as well as its willingness and ability to understand the characteristics of the company.

The clarity and preferential treatment we receive, especially from Edmundo Varas, is great; he rolls up his sleeves and gets stuck into projects himself.

Edmundo Varas is a very committed partner who is great for service, technical knowledge and availability. I really like working directly with him.

Key clients

Corporación Wikimedia Chile

Fundación Generación Empresarial

Donar Online

Alianza Team

Bredenmaster

Work highlights

  • Represented Corporación Wikimedia Chile, a non-governmental organisation, in a constitutional action filed by television producer Herval Abreu, which requested the deletion of internet content about him (known internationally as the right to be forgotten).
  • Advised an international company on a master survey, which was conducted globally in relation to personal health data processing legislation.
  • Assisted a telecoms company with a questionnaire on Chilean data privacy regulation.

Chile > Dispute resolution: litigation Tier 3

Morales & Besa‘s ten-strong civil and commercial practice is consistently sought out for complex and substantial disputes; and its representative matters range from consumer protection and class actions, to administrative disputes, civil liability claims, construction matters and contractual liability. The team has also been active in relation to cases involving online services and social media. In recent highlights, practice head Gonzalo Cordero led the representation of Cencosud Retail, one of the largest retailers in Latin America, in a services contract claim filed by water and sanitation company, Aguas del Valle. At senior associate level, Orlando Palominos is a litigation, arbitration and insolvency expert; Juan Ignacio Eymin focuses on civil and administrative procedures; and recently promoted Nicolas Corbeaux‘s experience includes litigation in the construction, energy, infrastructure and public works concessions industries. Since publication, Eymin has been promoted to practice director  but Palominos has left the firm; both developments effective as of January 2022.

Practice head(s):

Gonzalo Cordero

Testimonials

A team that is always available, with creative solutions and high levels of technical knowledge.

When we need quick and practical answers, this team delivers.

Professional and meticulous in their work.

Always involved in cases that are highly complex and of public interest.’

Great for the excellent dedication they have to their work.

Gonzalo Cordero stands out for his availability and professionalism.

Gonzalo Cordero demonstrates outstanding legal knowledge, and is highly regarded for civil litigation. He leads a team of excellent lawyers, among whom senior associate Nicolas Corbeaux stands out.

Senior associate Orlando Palominos is a really talented attorney; his level of technical knowledge and legal judgement are impeccable. I love working with him, because he has an excellent approach and a very practical view of litigation and/or prevention.

Key clients

Sociedad Concesionaria Metropolitana de Salud

Banco de Crédito e Inversiones

AFP Cuprum

Constructora Ingevec

Consorcio Constructor Brotec-CIL

Andritz

Cencosud

Wikimedia Chile

Inerco

Work highlights

  • Acted for Cencosud Retail, one of the largest retailers in Latin America, in a services contract claim filed by water and sanitation company, Aguas del Valle.
  • Acted for Banco de Crédito e Inversiones in two damages claims filed by Destileria Los Andes and Dominique Massenez, which originated from a failed mining investment.
  • Defended Universidad de Chile (which commissioned Sacyr Chile and Somague Engenharia to construct a landmark museum and arts centre) against the contractor’s claim for damages and restitution of guarantees, in relation to alleged design defects.

Energy and natural resources > Mining Tier 3

Morales & Besa‘s mining sector coverage ranges from mining law to corporate matters, finance, M&A and project development, along with construction, regulatory and environmental law matters. Leading the firm’s mining client relationships, Eugenio Besa assists with establishing foreign mining companies in Chile, and advises on shareholder agreements, option contracts, royalties, and tax and corporate matters. At non-partner level, director Paloma Infante is a dedicated mining law specialist; while Katannya Jablonsk is the key senior; associate Giancarlo Camillieri is also noted. Former practice director Lorena Barrientos moved in house at Algramo in February 2021. Since publication, the team has been further strengthened with the hire of Aldo Cardinali (from Infante Valenzuela Molina Abogados) as a partner of the energy and natural resources, environmental and project finance practices – effective as of Janaury 2022; his recent experience includes an almost three-year period as an advisor at the Ministry of Mining.

Practice head(s):

Eugenio Besa

Testimonials

Responsive and very knowledgeable.

Eugenio Besa is incredibly knowledgeable and understands the commercial drivers of deals.

Key clients

Arena Minerals / Arena Minerals Chile

Fiore Exploration / Fiore Andes

Anglo Pacific Group

Mitsubishi Materials Corporation

CIMIC

Thiess

Sedgman

Work highlights

  • Advising Arena Minerals Chile, a subsidiary of Arena Minerals, on its participation as 80% owner of two mining companies, which were incorporated with SQM (as 20% owner).
  • Advised Fiore Atacama (a subsidiary of Fiore Exploration) on corporate matters, as well as the termination and release of an option to purchase mining concessions (owned by SQM).
  • Advised Mitsubishi Materials Corporation, as local counsel, on the acquisition of a 30% interest in the Mantoverde copper mine (Atacama Region).

Chile > Environment Tier 3

Morales & Besa‘s ‘young team is highly experienced in environmental matters‘. It provides specialised advice on environmental assessments; sanctioning processes and environmental litigation; urban, water and mining law matters; and public contracts. The environmental group also supports the firm’s work on major transactions, such as projects, M&A, and banking and finance. With over 16 years’ experience in environmental matters, team leader Paloma Infante (promoted to director in July 2020) is a former Environment Ministry legal division head; associate support is provided by seniors Giancarlo Camillieri (who re-joined in July 2020) and Katannya Jablonski, along with Josefina Derpich (May 2020 hire) and Francisca Bannura. Since publication, the group has been further strengthened with the hire of Aldo Cardinali (from Infante Valenzuela Molina Abogados) as a partner of the energy and natural resources, environmental and project finance practices - effective as of Janaury 2022.

Practice head(s):

Paloma Infante

Testimonials

Morales & Besa’s lawyers have a very competent team that is easy to relate to, always ready to support my organisation, and always available.

The distinctive features of this firm’s lawyers are their level of competence in environmental matters and dedication to us.

The young team is highly experienced in environmental matters, and has very competitive fees and great service – very reliable.

Besides the great knowledge and experience of environmental matters, the team has a very strategic approach.

A very specialised team with great judgement and knowledge of the energy and environmental sectors.

They address all aspects of project development with great knowledge of related disciplines (environmental, contracts, corporate, energy, financing).

Very in-depth and thorough knowledge of regulatory issues, particularly director Paloma Infante, who pays extraordinary attention to detail – the quality of her analyses are exceptional.

Paloma Infante shows solid and comprehensive knowledge of environmental issues and project development.

Key clients

Coordinador Eléctrico Nacional

Atlas Renewable Energy

Inmobiliaria Agua Fría

Tepual Conservación

Sociedad Concesionaria Nuevo Pudahuel

Los Guindos Generación

Ruta del Loa Concessionaire

Inter-American Development Bank

EIG Cerro Dominador

Celeo Redes Operación Chile

Alto Jahuel Transmisora de Energía

Sonnedix

Sungrow

Banco Santander

Banco Security

Republic of Chile

Corporación Robles de Cantillana

Capital Azul

Ingevec

Corporación Interamericana para el Financiamiento de Infraestructura (CIFI)

Enel X

Hyundai

SMU

Work highlights

  • Assisted (from an environmental and regulatory perspective) Coordinador Eléctrico Nacional with reviewing the tender terms and conditions (and ancillary documents) for the tender of the  national transmission system’s 2018 and 2020 expansion plans.
  • Acted for Celeo Redes in a sanctioning process carried out by the Superintendency of the Environment, in relation to the environmental performance of a substation that was owned by a third party.
  • Provided environmental advice to a syndicate of lenders (IDB Invest, KfW IPEX-Bank, DNB, CaixaBank and MUF), in relation to the senior financing of Huemul Portfolio, which included sensitive advice on archaeological issues and indigenous communities.

Chile > Real estate Tier 3

At ‘first-class law firmMorales & Besa, the six-member transactional and regulatory team consistently works alongside the firm’s regulatory, banking and finance, tax, and energy practices on real estate and construction matters; and its work ranges from real estate credits, sales and lease purchase agreements to the issuance of debt guarantees and land title studies. The group is headed by experienced partner Macarena Laso, who has broad experience in public concessions, real estate and construction works, and infrastructure projects.

Practice head(s):

Macarena Laso

Testimonials

A first-class law firm that covers all practices, and offers a global and versatile service – among the best offices.

Great for versatility, and a superb team with many resources and a lot of experience in concessions projects.

Key clients

Patagonia Ventures Chile

Sociedad Concesionaria Metropolitana de Salud

Sociedad Concesionaria Nuevo Pudahuel

Cencosud

Efacec

Ingevec

Coordinador Eléctrico Nacional

VivoCorp

Sedgman Chile

Ramfer

Work highlights

  • Advised VivoCorp on the sale of Outlet Maipú and Outlet La Florida to Grupo Patio.
  • Advised Constructora Ingevec on the execution of several construction management agreements.
  • Advised Patagonia Ventures Chile on the development of the Río Palena Lodge, a luxury fishing lodge in Patagonia, which involved the purchase of land, permitting matters and due diligence (among others).

Chile > Dispute resolution: arbitration Tier 4

The ‘excellent‘ 10-strong team at Morales & Besa has been particularly active, recently, with construction-related arbitrations involving the distribution of risks in infrastructure and public works projects – further to the pandemic’s impact on the economic equilibrium of contracts. Recognised for his expertise in disputes surrounding construction and contract interpretation, Gonzalo Cordero heads the practice, which includes senior associates: Orlando Palominos, who regularly represents public works concessionaires before arbitral tribunals; Juan Ignacio Eymin, who also assists with disputes before arbitration courts; and the recently promoted Nicolas Corbeaux, who re-joined in 2020 after undertaking an LLM at NYU. Since publication, Palominos has moved to Lembeye Abogados - with effect from Janaury 2022.

Practice head(s):

Gonzalo Cordero

Testimonials

The M&B team is excellent; the preparation of the arbitration is carried out with great professionalism, they are always ready to hold explanatory meetings, and, at all times they keep us informed about the steps to follow.

They are very clear and the execution is very personalised – despite being a large law firm, the customer service is excellent.

Always ready to explain (in simple language) the actions to be taken and the risks, and the analysis of cases is very detailed.

Successful results even for the most complex cases.

The team has very good co-ordination with each other, always responding to our requests in a timely manner.

A great negotiating team that is committed and experienced, with a lot of skills in different areas.

A practice that is focused on arbitrations derived from the construction of concession projects. They are very orderly and hardworking, and do their job well.

Senior associate Orlando Palominos is one of the best that the team has – very smart and prepared.

Key clients

Sociedad Concesionaria Nuevo Pudahuel

Sociedad Concesionaria Metropolitana de Salud

Cencosud Codelco

ABB

Nevasa

Sociedad Concesionaria Puente Industrial

Copesa

Constructora Ingevec

Efacec

Work highlights

  • Acted for Sociedad Concesionaria Nuevo Pudahuel (concession holder of the Santiago Airport) in an arbitration against the Ministry of Public Works, further to huge losses that derived from unforeseen and unexpected circumstances.
  • Acted for Sociedad Concesionaria Metropolitana de Salud (concession holder to build and operate Hospital Félix Bulnes) in an arbitration proceeding against Astaldi for a series of breaches that compromised the concession.
  • Represented Sociedad Concesionaria Puente Industrial in two proceedings before the Panel Técnico de Concesiones (disputes board), concerning claims based on changes in seismic regulations that impacted the design of the entire project.

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.

DepartmentNameEmailTelephone
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
PhotoNamePositionProfile
Myriam Barahona  photo Myriam Barahona Partner at Morales & Besa.
Álvaro Barriga  photo Álvaro Barriga Partner at Morales & Besa.
Eugenio Besa  photo Eugenio Besa Senior Partner at Morales & Besa
José Miguel Carvajal  photo José Miguel Carvajal Partner at Morales & Besa and co-head of Banking and Finance, Project…
Gonzalo Cordero  photo Gonzalo Cordero Partner at Morales & Besa, head of Dispute Resolution arbitration and litigation…
Andrea Díaz  photo Andrea Díaz Partner at Morales & Besa, co-head Capital Markets practice and head of Capital…
Michel Diban  photo Michel Diban Partner at Morales & Besa, co-head of Corporate/M&A.
Juan Ignacio Eymin  photo Juan Ignacio Eymin Senior associate at Morales & Besa.
Maria José Henríquez  photo Maria José Henríquez Partner at Morales & Besa. Head of Competition / Antitrust and Compliance…
Paloma Infante  photo Paloma Infante Director at Morales & Besa, head of Regulation, Environment & Natural Resources.
Katannya Jablonski  photo Katannya Jablonski Senior associate at Morales & Besa.
Macarena Laso  photo Macarena Laso Managing Partner at Morales & Besa and head of Real Estate and…
Angelina Migliorelli  photo Angelina Migliorelli Senior associate at Morales & Besa and head of Labour and Employment.
Guillermo Morales  photo Guillermo Morales Founding Partner at Morales & Besa, head of Capital Markets and co-head…
Orlando Palominos  photo Orlando Palominos Senior associate at Morales & Besa.
Carlos Silva  photo Carlos Silva Partner at Morales & Besa, head of Projects and Infrastructure.
Juan Carlos Valdivieso T.  photo Juan Carlos Valdivieso T. Senior associate and head of Energy and Natural Resources practice.
Other fee-earners : 72
Total staff : 105
Partners : 12

The firm: Morales & Besa was established in 1992 by a group of leading legal professionals in corporate and M&A, finance, capital markets, dispute resolution, projects and infrastructure, energy, administrative law, intellectual property and tax. The firm is recognised for its execution and teamwork capabilities, and its ability to provide comprehensive legal services to clients with varied interests, both at local and international level. The firm promotes talent and diversity to offer its clients innovative perspectives and creative solutions, rooted in the legal system and the demands of their businesses.

International outlook: More than a third of the firm’s lawyers hold or are pursuing an LL.M. degree. Of these, over 80% obtained it from international universities in the US and Europe, and the remaining from the most prestigious Chilean law schools. The majority of those who study abroad participate in a foreign associate program in some of the most prestigious law firms, supported by our policy of collaboration with leading law firms around the world, which opens doors for the exchange of ideas, approaches, knowledge and experience, resulting in innovative solutions.

The firm is among the 10 Chilean firms included in the “International and Cross-Border Capabilities” section of Chambers and Partners Global Guide, which recognises those firms that offer the best experience in transactions with international components.

Recognising excellence: The firm and team have been recognised by some of the most prestigious legal directories and publications, both by its technical and organisation performance. Practices such as projects and infrastructure, banking and finance, corporate and M&A, and capital markets are among the top tiers and leading positions of Chambers and Partners and The Legal 500, among others. Environment, energy, competition/antitrust, dispute resolution, insolvency and reorganisation, tax and intellectual property and data protection, among others, are also highly positioned in these and other specialty rankings, and so are the firm’s most experienced members.

The firm’s work is often awarded or shortlisted as deal of the year by relevant publications such as Latin Lawyer, Latin Finance, IFLR, and IJGlobal, among others.

Diversity:  Morales & Besa do not only believe that diversity matters, as its almost 30 years of experience have shown, but also that it is one of the keys to a better working environment, where people can learn from the differences among them, which, at the end, helps to provide for a better service and to achieve success.

Diversity and meritocracy are part of the firm’s foundational principles and, from the beginning, it has recruited, considering only the excellence of the applicants, their professional credentials, integrity and work ethic, regardless of their family, social, political or religious affiliations, or gender or sexual orientation, which, as consequence, has helped it to create a diverse environment, where lawyers come from different backgrounds, have different ways of thinking and provide diverse perspectives.

Historically, from early on, the firm has had a high number of women among its members, including female partners. The firm has a Diversity Committee, formed by partners, counsel, director and senior associates, which is in charge of its diversity and inclusion activities and challenges.

Sustainability: Morales & Besa has been promoting several initiatives that allow it to contribute to a more sustainable day-to-day. During recent years, the firm has been deepening its waste management processes, which has resulted in the consolidation of its collection and recycling system. Likewise, the firm fosters several initiatives for the reconditioning and reuse of materials.

In addition, because of its involvement and commitment to environmental care, the firm contributes through pro bono work to different initiatives for the conservation and protection of the environment.

DepartmentNameEmailTelephone
Senior Partner Guillermo Morales E.gmorales@moralesybesa.cl+56 2 2472 7007
Senior Partner Eugenio Besa J-H.ebesa@moralesybesa.cl+56 2 2472 7017
Managing Partner Macarena Laso A.mlaso@moralesybesa.cl+56 2 472 7034
Partners : 11
Lawyers : 65
Espanol
English
Portuguese
IBA (International Bar Association)
ABA (American Bar Association)
AmCham American Chamber of Commerce
British Chamber of Commerce

International Capabilities

Since its establishment in 1992, Morales & Besa was conceived and has consolidated as a local firm with international outlook. Thus, in our almost 30 years of history, we have gained a great international understanding that came through many sources, including our experience with international clients with local presence and with local clients with foreign exposure. Because of our reputation in the international arena we are routinely called upon as legal advisors to big-name clients in some of the most challenging and emblematic cross-border transactions and operations.

We also have experience in acting as foray as legal advisors in transactions that do not include Chilean factors, but in which the client trusts our significant international experience and performance, to look after their interests.

Network

Morales & Besa has been able to build and maintain solid relationships with some of the main law firms present in the Americas, Europe and Asia, with which we work, on a regular basis, in advising clients or projects developed in Chile. We are routinely recommended by these same law firms to their clients to support them in the legal aspects related to the Chilean jurisdiction.

In addition, we regularly participate in the main events of the international legal field, including encounters of the American Bar Association and the International Bar Association and other specialty events led by some of the main players in the different specialties.

International training

Most of our lawyers pursue postgraduate studies in some of the most prestigious international universities, mainly in the United States, but also in Europe. The ample majority of these, remain working as international associates in firms with which we collaborate permanently. More than half of our partners were part of these programs and cultivate these links to date.

Languages

Our team is fluent both in Spanish and English. Portuguese, French and German is also spoken.