Firm Profile > Honorato | Delaveau > Santiago, Chile

Honorato | Delaveau

Capital markets Tier 1

Honorato | Delaveau fields a small, seven-strong team in the capital markets area which nevertheless both punches-above-its-weight and stands apart from competitors primarily dedicated to issuance-work as a result of its additional and in-depth focus on the establishment and registration of funds with the Risk Classification Commission (CCR) and Chilean Financial Markets; Commission (CMF). Head of the firm’s capital markets and legal asset management department, Sebastián Delpiano has enormous experience across the full range of capital markets and stock exchange matters, including  stockbroker and fund manager advisory, and fund regulation; while head of the firm’s corporate finance practice Matías Langevin  has over 15 years’ experience in equity and debt transactions, including under Rule 144A/Reg S. and private placements. Senior partner Gonzalo Delaveau, in turn, has particular expertise in cross-listings on the Chilean Off-Shore Exchange and the obtaining of CCR approvals. Additional key figures in the practice include counsel and practice director Carlos Frias, who can draw on in-house experience in both banking and multilateral finance institutions; and senior associate Nicolás Garcia, who is particularly active advising fund managers, stockbrokers and security agents on their day-to-day activities. The team also includes economist Carolina Phillips.


Honorato | Delaveau is one of the few Chilean law firms truly specializing in capital markets. Likewise, and unlike other firms, Honorato | Delaveau (i) provides us with an agile and efficient service, which is essential given the dynamism and speed with which the market moves; (ii) at the same time, they provide legal advice without neglecting the commercial or operational aspects of the solutions they provide, something that today is strange to many lawyers. Indeed, the fact that its partners have all started their activities in the business world, allows them to analyse from that point of view the effects of the advice they provide, which is not the case with many other firms who, when providing advice, put aside the impacts that they have on the different areas of a company; (iii) finally, it should be noted that at least one of its partners is always present actively participating in the advice, which turns out to be a significant difference with other firms.’

We have worked directly with partner Sebastián Delpiano, who has extensive experience in capital markets. At the same time, and given this experience and the fact of working with several other companies in that area, this allows him many times Anticipate eventual situations In the same way, we highlight the pro-business profile that he and his team have, always looking for possibilities to structure deals with other market agents that they know.

We also work with associate Nicolás García, who, in addition to having extensive experience in the area, is a professional completely dedicated to finding solutions for his clients, and is always available to meet our requirements.

The closeness with the client, they are always available, the answers to the questions are immediate and they are always following up on our needs.

The partners who work with us are Rebeca Zamora, Antonia Vial and Matias Langevin. Both of them stand out for their professional capacity and as experts in their areas, additionally, the quality of interpersonal relationship makes one work 100% at ease with them.

Honorato Delaveau are clearly incredibly knowledgeable on local laws and procedures. We have had every confidence in advice received from the firm and in handing over our legal tasks that need carrying out in Chile.

Matías Langevin, in particular, stands-out as being knowledgeable, practical and considered in his advice and approach. We have relied on him heavily during one of our biggest and most strategic projects. He has always made himself available when needed and is never caught off-guard by any question, his intellect and capability is immediately evident.

In depth understanding of local requirements and strong relationships with local regulators.

Carolina Phillips is the partner we have worked with; she has done a great job providing practical and timely guidance for the registration of our UCITS, ETFs and alternative funds registered in Chile with the CCR and/or CMF.’

Key clients

Nevasa HMC Administradora General de Fondos

Buena Vista Capital

Moneda Asset Management

Lexington Partners

Banchile Administradora General de Fondos

Credit Suisse Agencia de Valores

Larrain Vial Activos Administradora General de Fondos


Consorcio Corredores de Bolsa


FOL Agencia de Valores

Falcom Capital

Vision Advisors Administradora General de Fondos

Vantrust Capital

Nevasa Corredores de Bolsa

Invinsa Administradora de Fondos Privados

HMC Capital

Sartor Administradora General de Fondos

XLC Administradora General de Fondos

Quest Administradora General de Fondos

Capital Advisors Administradora General de Fondos


Ameris Capital

Vantrust Capital Administradora General de Fondos

Chilean Mutual Fund Association

EFG Corredores de Bolsa

Vantrust Capital Corredores de Bolsa

AI Capitals

Chilemarket Corredores de Bolsa

Deutsche Bank

Investrust Administradora de Fondos

Paragon Private Advisor

BTG Pactual Administradora General de Fondos

Focus Administradora General de Fondos

AMM Asesorías

Primus Capital

Banking and finance Tier 3

Honorato | Delaveau grew its banking and finance offering in 2019, through the hire of former Morales & Besa partner Matías Langevin. The seven-member team advises domestic and foreign creditors, investors and debtors on bilateral and syndicated loans, debt restructuring, project finance, and structured products and derivative transactions. The other key individuals are name partners Jose Luis Honorato and Gonzalo Delaveau, and structured and asset-backed financing specialist Sebastián Delpiano. Former senior associate Roberto Olivos moved in-house at Inversiones Tajamar. Since publication, the firm has hired financial-regulation specialist Felipe Divin, who will also head the firm's information technology practice.

Key clients

Goldman Sachs

BNP Paribas

Banco de Crédito e Inversiones

Energía Llaima

Bank of America

Credit Agricole

BTG Pactual AGF

Banco Santander

Alta Developers

Innergex Renewable Energy




Banco de la Nación Argentina

Credit Suisse

Ameris Capital

Buena Vista Capital


Corporate and M&A Tier 3

Honorato | Delaveau fields a nine-strong department that is highly focused on M&A deals for significant mid-market corporations; it also acts for private equity funds that acquire Chilean assets and businesses with a regional (Peru-Colombia) presence or expansion possibilities. The main advisers are name partners José Luis Honorato and Gonzalo Delaveau, along with corporate compliance of counsel Carlos Frias and associate Nicolás Garcia. The department's capabilities were considerably upsized with the hires of corporate and M&A partner Matias Langevin from Morales & Besa; senior associate Antonia Vial (who is experienced in energy and technology-related M&A), from Arteaga Gorziglia & Cia Abogados; and compliance director Rebeca Zamora, in the second half of 2019.


Great for their deep knowledge of the market, as well as the great involvement and interest of the firm’s lawyers in all the matters on which we have worked with them.

The firm provides an excellent service, since its team of lawyers are highly specialised in various matters, and especially in M&A. They help us solve complex problems of all kinds, but in M&A issues they have been a great support and give a 360-degree view.

Fantastic for responsiveness, with deep knowledge of the marketplace and how it operates.

A very responsive team, with knowledge of the key individuals in the marketplace.

Being a smaller office, it is competitive in terms of response times and price. The team is highly qualified in all areas and there is always a professional to answer queries on any legal or regulatory matter.

Matias Langevin, director Rebeca Zamora and senior associate Antonia Vial are highly dedicated professionals, their response times are very fast (well above the average of other professionals), and their advice is always efficient and with positive results.

Matias Langevin has shown a great willingness to respond to our requests; and José Luis Honorato helps during complex negotiations with large operators, always achieving a good agreement for the company.

Gonzalo Delaveau’s ability is amazing. He is personally involved and treats the negotiations as his own. 

Key clients


Banco de Crédito e Inversiones


Moreau Industries


Aediles Capital

Liberty Compañía de Seguros Generales

Innergex Renewable Energy


SBA Communication Company

DHI Telecom

Voltex Group

Lexington Partners


Mining Tier 3

Honorato | Delaveau has extensive experience in the structuring of greenfield mining projects, as well as assisting with mining-related M&A, purchases and sales, restructurings, investments, and project finance. The four-strong team's projects experience further includes mining concessions, rights of way, regulatory and environmental permits, water rights, and engineering and procurement contracts. Gonzalo Delaveau is active in exploration level-related mining activity. Former of counsel Rodrigo Delaveau left the firm in 2019 to become Deputy Justice of the Chilean Constitutional Court.

Practice head(s):


It is a well-organised team. In addition, it is always available, which sometimes does not happen with other offices.

The lawyers speak good English and have good relationships with clients. Furthermore, their rates are highly competitive.

Good knowledge of the mining business and control of the uncertainties associated with this industry.

Excellent experience in mining and energy issues, as well as knowledge of the finance markets associated with mining projects.

Key clients

Sax Global

Los Andes Copper

Compañía Minera Vizcachitas Holding

Ison Min

Camrova Resources

Rio 2

Herencia Resources Chile

Minera Colliguay

Minera Yakana

Capital Advisors


Real estate Tier 3

The five-member team at Honorato | Delaveau advises real estate and construction companies, real estate investment funds, investment banks, family offices and private clients on the development of residential, industrial, office and commercial projects. It also assists with the establishment of operating vehicles and financial structures. A specialist in real estate, engineering and construction law, as well as project finance, Juan Ignacio Peña leads the team, which also fields asset-backed finance expert Sebastián Delpiano. The firm responded rapidly to the departure of former senior associate Roberto Olivos in August 2019, drafting in Macarena Riquelme from Quintanilla & Busel Niedmann as a senior the same month, hiring and Antonia Vial from Arteaga Gorziglia & Cia Abogados in November.

Key clients



Socovesa Desarrollos Comerciales

Grupo Urbana

Zurich Asset Management

Obras Especiales Chile

Inversiones VNT


Bullrock Investments

HMC Administradora General de Fondos

Frutera Euramerica

GLL Real State


Inmobiliaria JMI

Electricity/oil and gas

Honorato | Delaveau regularly assists with the development, construction, operation and maintenance of energy and water projects. Gonzalo Delaveau has over 20 years' experience in energy matters; engineering and construction head Juan Ignacio Peña's practice includes the development and implementation of generation (including hydro, solar and wind) and transmission projects. The firm hired Matias Langevin from Morales & Besa, which has strengthened its energy project finance expertise, and associate Antonia Vial (a transactions specialist) joined from Arteaga Gorziglia & Cia Abogados.

Practice head(s):


Great industry and sector knowledge, with responsive, decision makers who navigate the key processes.

Timely responses and the lawyers are flexible and co-operative on fee arrangement. They also take the initiative to share local updates regarding projects.

I recommend the firm for being co-operative and detail-oriented, with profound knowledge of local practices.

A great team with great knowledge of the market.

What sets Honorato Delaveau apart is its great customer service, which is greatly appreciated.

A highly competent practice that is well connected.‘ They are well-respected lawyers. I would recommend Gonzalo Delaveau to any company wanting to invest in Chile. He is not only a very good lawyer but he also brings solid and valuable business expertise to the mix.

Gonzalo Delaveau has a superior and global knowledge of the industry.

Key clients


EDF Renewable Energy

Innergex Renewable Energy Inc.

Energía LLaima

Aaktei Energía


Consorcio Constructor BYO Limitada

Central Nueva Frontera

Obras Especiales Chile S.A.

Aediles Capital

Honorato | Delaveau was founded in 2014 by José Luis Honorato, Gonzalo Delaveau and Sebastián Delpiano, attorneys with vast experience in the areas of corporate, finance and capital markets law. Juan Ignacio Peña, an expert in the areas of real estate, engineering and construction law, was incorporated as partner in 2017. Then, and due to the strong growth experienced by Honorato | Delaveau, Matías Langevin was incorporated as a partner on June 2019. He has an extensive practice in banking and financial operations, and also on international transactions.

Honorato | Delaveau provides personalized advice, where its partners are constantly and permanently involved. This differentiating aspect is key to achieve the expected results. The firm offers a value proposal that goes beyond quality in the service, since this is inherent in any legal advice. The team seeks to be proactive, efficient, innovative and always governed by strict ethical conduct.

Honorato | Delaveau has a recognized leadership in the legal market for providing personalized legal advice, according to the needs of each client. In order to achieve this, the company structures efficient and professional work teams, through a strict selection process.

Department Name Email Telephone
Corporate, M & A, Arbitration and mediantion, Public Law, Criminal Law José Luis Honorato 562 24053200
Corporate, M & A, Energy, Mining and Natural Resources, Conssesions and Infrastructure, Antitrust Gonzalo Delaveau 562 24053200
Capital Markets, Asset Management, M & A, Corporate, Venture Capital Sebastián Delpiano 562 24053200
Real Estate, Engineering and Construction Juan Ignacio Peña 562 24053200
Banking, Finance and Derivatives, Corporate, M & A, Project Finance, Capital Markets Matías Langevin 562 24053200
Compliance and Administrative Procedures, Public law Carlos Frías 562 24053216
Compliance and Corporative Integrity, Labor Law, Antitrust and Consumer Protection Rebeca Zamora 562 24053211
Capital Market, Asset Management Nicolás García 562 24053215
Tax Law Juan Andrés Larrondo 562 24053214
Corporate governance, financial regulation, and information technology Felipe Divin 562 24053200
Photo Name Position Profile
 Gonzalo Delaveau photo Gonzalo Delaveau Partner
 Sebastián Delpiano photo Sebastián Delpiano Partner
Sr Felipe Divin photo Sr Felipe Divin Partner
 José Luis Honorato photo José Luis Honorato Partner
Mr Matías Langevin  photo Mr Matías Langevin Partner
Mr Juan Ignacio Peña  photo Mr Juan Ignacio Peña Partner
Parnert : 6
Director : 3
Associate : 6
English (fluent)