Lexvalor Abogados > Quito, Ecuador > Firm Profile

Lexvalor Abogados

Ecuador > Banking and finance Tier 1

Lexvalor Abogados has a strong footing in Quito, demonstrated by its assistance to prominent clients in the capital markets and finance spaces; it regularly acts on behalf of domestic and international investors, trust funds and banks in corporate bond issues, securities registration, securitisations and debt transactions. Leadership of the practice is shared by Daniela Irigoyen, an expert in fiduciary businesses, and Margoth Chiriboga, who also acts as the director of the firm’s stock exchange department, specialising in private equity and structured finance deals. Key clients in this respect include Fideval, Mercapital and Sucaval, with the team’s advice to Banco Internacional del Ecuador on the country’s first blue bond issuance process making headlines. Active in this matter, María Pia Rivadeneira is a standout from the senior associate ranks, with Juan Francisco Almeida also noted for his knowledge of securitisation and guarantee structurings.

Practice head(s):

Daniela Irigoyen; Margoth Chiriboga


‘They work as a team to identify and act on the strengths of each lawyer with the aim of fulfilling what the client requested.’

‘Juan Francisco Almeida and Iván Plascencia stand out for the level of personalised attention, the response times, the exemplification of the doubts or queries made, the strong knowledge on financial/banking issues and in relation to the control body of the cooperatives in the country.’

‘Daniela Irigoyen is a lawyer with extensive experience in banking and finance, and in addition to having extraordinary knowledge, has a great deal of business knowledge and is very present within the relationship.’

‘Lexvalor has a team which brilliantly combines the experience of its senior partners with the versatility and energy of top-level young lawyers. This firm provides comprehensive advice.’

‘The Lexvalor team has in-depth knowledge of the securities market law and extensive experience in the structuring of commercial trusts and in the legal structuring of securitisation processes.’

‘Juan Francisco Almeida is not only an excellent professional but also a person of integrity.’

Key clients

Mercapital Casa de Valores


Banco Pichincha

Grupo Nobis

Grupo Futuro

Corporación Favorita


Banco Internacional




Cooperativa de Ahorro y Crédito Andalucía

Fiduciaria Ecuador Fiduecuador Administradora de Fondos y Fideicomisos

Work highlights

  • Advised Banco Internacional del Ecuador on the first blue bonds issuance process in Ecuador and Latin America, with a value of $79m.
  • Advised Fideval on the constitution and approval of three new investment funds: Fondo Vivo, Fondo Aliado and Fondo Objetivo.
  • Issued a legal opinion and participated as legal advisor in a financing transaction by Citibank, which granted a loan for $32m in favour of Servicios de Telecomunicaciones SETEL.

Ecuador > Intellectual property Tier 1

Lexvalor Abogados continues to consolidate its standing as a leader in IP matters, evidenced by its retention of an impressive client roster featuring the likes of Corporación Favorita, Diners Club, Abbott Laboratories and Alpina Productos Alimenticios. Market reference Luis Marin heads the practice, bringing considerable knowledge of trade mark enforcement and unfair competition issues, which is complemented by associate Emily Moreno‘s experience in prosecution matters. The firm’s expertise extends to anti-counterfeiting, plant variety protection and patent clearance.

Practice head(s):

Luis Marin Tobar


‘Very fast and efficient to manage and defend our brands.’

‘Good attention to detail.’

Key clients

Alpina Productos Alimenticios

Corporación Favorita

Inmobiliaria Don Antonio

Freezetone Products

Grupo Pintulac

Diners Club International

Fellowship of Christian Athletes

Premier Nutrition Company



Santos CMI

Andean Success Limited

Dan’s Corporation


Beverage Brands & Patents Company


Abbott Laboratories

Comercial e Industrial Sucre

Industrias Ales


Scotch Whisky Association

Cole Haan

Uribe & Schwarzkopf

Diners Club International

Discover Financial Services

Animated Brands

Avon Products

Avon Cosmetics

La Casa del Calefón

Work highlights

  • Representing Comsucre in a series of administrative and constitutional actions filed by competitor Papelesa on the basis of a 3D design for a colouring pencil.
  • Represented Avon Products and Avon Cosmetics in the review and strategy to implement and register a trade mark license and sub-license agreement in favour of Productos Avon Ecuador.

Ecuador > Labour and employment Tier 1

Lexvalor Abogados demonstrates a strong specialisation in labour litigation, focusing on workplace risk, occupational safety, compliance and the implementation of employment policies surrounding discrimination and workplace harassment. Led by Karla Villacís, an expert in a wide array of social security, occupational hazard and litigation proceedings, the team is noted for its comprehensive support, with recent highlights seeing the team act as counsel for large companies in due diligence, compliance, post-pandemic hiring schemes and remuneration packages. Alfredo Peñaherrera and associate Vanessa Gómez are additional standouts, with the latter recognised for her broad litigation expertise.

Practice head(s):

Karla Villacís


‘What makes Lexvalor unique is that they work as business partners and not as an external advisor. They understand business needs and give their best advice based on this. Additionally, I believe that they have good collaboration between lawyers, and you always have immediate access to partners. As for the people, they explain legal concepts to us in the easiest way. We are happy with their service and we believe that the constant contact is what makes them stand out from other law firms.’  

‘Karla Villacis is very professional and as a leader she develops and empowers her team very well. Jose Endara is very professional and diligent to all requirements. Vanessa Gómez is the one we consult regarding employee issues on a day-to-day basis and with whom we work on more strategic changes in the business.’

‘They always send us updates when there are new laws or regulations in a timely manner. They are very professional and show great judgement. The labour lawsuits that we have had have been in favour of the company because they have supported us.’

‘The part that makes them stand out is the humanity and the integrity. They empower us so that we can deal with collaborators when problems arise and deal with labour issues.’

‘They have a good response speed.’

‘I consider that one of the strongest elements that LexValor has is the professional level and advice by José Endara. He is a very practical lawyer.’

Key clients

Alpina Productos Alimenticios Alpiecuador

Uribe Schwarzkopf Ingenieros y Arquitectos

Arbaro Fund

Beiersdorf Ecuador

Grupo Familia Sancela del Ecuador

Tigre Ecuador

Opticas Gmo Ecuador

Grupo Corporación Favorita



Work highlights

  • Advised Despegar on personnel management, employment contracts, payroll management, additional remuneration payments and the disengagement of local staff.
  • Retained by Grupo Familia to appear before the Labour Authority in cases of inspections and complaints, and for training.
  • Advising Alpina on corporate, regulatory and labour matters, including on collaboration and co-participation in the transition process due to the incorporation of the new General Manager and the Chief Commercial Officer.

Ecuador > Real estate Tier 1

Lexvalor Abogados‘ versatile real estate offering covers construction and infrastructure projects, housing and mall developments, condominium structures and real estate trusts, with further expertise in arbitration proceedings for tenancy and expropriation issues. The leadership team features Karla Villacís, renowned for her advice to major construction companies and mall developers; trust fund and fiduciary structures specialist Daniela Irigoyen; and Juan Francisco Almeida, active across a wide spectrum of infrastructure project development matters and urban and electrical power project financing. The group’s familiarity with the real estate funds space and ongoing relationship with Uribe & Schwarzkopf is illustrated by its recent advice on the establishment of the Shyris 18 Trust, owner of the IQON project, with Marcelo Morabowen, a noteworthy figure from the senior associate ranks active on the matter. Associate Santiago Aguirre and senior associate Adriana Paredes are further key contacts, particularly for permits and authorisation matters.

Practice head(s):

Karla Villacís Echeverría; Daniela Irigoyen; Juan Francisco Almeida


‘I work with various firms and the main skill of the Lexvalor firm team is the speed with which all processes progress internally. They clearly have a capable team and very well-structured internal processes.’

‘Vast experience in trusts and the stock market. Continuous monitoring, regular updates on regulations and issues that affect the business.’

‘Experience at national level – good knowledge of the domestic regulations. Innovative ideas for solving problems or conflicts – knowledge of our business.’

‘Lexvalor, through Alfredo Peñaherrera and associate Santiago Aguirre, provide a comprehensive service. They provide services from the beginning of a project, working closely with architects and authorities and their service is comprehensive until the deployment and start-up of each project.’

‘Juan Francisco Almeida is a very capable professional and expert in the real estate sector. In Ecuador, the initial stages of a real estate project carry a lot of uncertainty and it is very likely to encounter surprises that can make a project unable to be executed when dealing with regulations and local authorities. This is the most important moment of the project and where the ability of the firm is evident. Juan Francisco and the Lexvalor team have been an essential piece in achieving the results and crucial in the feasibility of our projects.’

Key clients

Uribe y Schwarzkopf Ingenieros y Arquitectos

Grupo Nobis

Romero y Pazmiño

Corporación Favorita

Work highlights

  • Advised on the establishment of the Lomas de San Pedro Trust, with a property being contributed to the trust where 30 land lots will be built with a total area of 5,960.20 square metres.
  • Represented Romero & Pazmiño in the establishment of a real estate trust called Administración Sevilla, which is the owner of a project called Alcázar de Almería.

Ecuador > Tax Tier 1

Lexvalor Abogados‘ tax department stands out for its collaboration with Ecuadorian tax authorities, giving it a unique view of tax reforms and the regularisation of the market. The group is also notable for its capabilities in both contentious and non-contentious matters, sought by some of the largest pharmaceutical, technology and tourism companies as well as major financial institutions and real estate developers. Leadership of the group is divided between Carlos Coronel and Pablo Arias in Quito and Gabriela Uquillas in Guayaquil. Coronel is in charge of tax disputes, overseeing judicial and administrative cases before the District Tax Court and National Court of Justice, joined by Arias, founding partner of the practice and a reference for tax consulting in the oil and gas, pharmaceutical and retail sectors. Urquillas is an international trade and customs specialist. Associate support comes from Víctor Chiriboga, whose practice focuses on administrative and judicial processes, and Ana Belén Cadena, noted for tax planning and contentious matters. Since the conclusion of research, the team has been further strengthened thanks to the hire of Paola Gachet, previously at Robalino, as of July 2023; in addition to her tax know-how, Gachet brings considerable experience in administrative law and public contracting to the practice.

Practice head(s):

Carlos Coronel; Pablo Arias; Gabriela Uquillas


‘Client service is exceptional. Quick responses and flexibility. The firm strives to understand the concerns and objectives of the client in order to ensure that the criteria provided are aligned with those objectives.’

‘Víctor Chiriboga has deep expertise and knowledge of tax issues, and the ability to adapt and understand client needs.’

‘The channels of communication and attention are direct.’

‘Its quality of service and care stand out.’

‘Lexvalor has a highly qualified team with a very practical and pro-business approach.’

‘Carlos Coronel has extensive experience in international taxation and cross-border transactions, as well as enjoying a very solid academic reputation.’

Key clients

Logiztik Alliance

Entoria Energy



Acerías Nacionales del Ecuador

Direct TV

Primax Comercial del Ecuador

Productos Avon Ecuador

Corporación Favorita

Df Ecuador

Cervecería Nacional


Banco Internacional

Grupo Futuro

Etica Empresa Turística Internacional

Grupo KFC




Productos Familia Sancela Del Ecuador


Seguros Equinoccial

La Fabril


Work highlights

  • Advised Cervecería Nacional on the process of determination of the tax year 2017, obtaining a favourable result, saving more than $20m.
  • Obtained a favourable ruling from the National Court of Justice for Productos Avon Ecuador, saving more than $3m.
  • Advised Corporación Favorita on the registration of an external loan of $65m.

Ecuador > Corporate and M&A Tier 2

Clients of Lexvalor Abogados note that the firm's ‘dynamism and youth sets it apart from others‘, forming teams ‘which understand new business trends‘. Areas of growth in 2022 included mergers and acquisitions on both the buy and sell sides, where the team advised local and international companies, and assisting clients with investments in food and beverage production, consumer product manufacturing, technological applications and fuel distribution. The practice is jointly led by firm president Alfredo Peñaherrera Wright, founding partner Margoth Chiriboga Lopez and experienced M&A practitioner Juan Francisco Almeida.

Practice head(s):

Alfredo Peñaherrera Wright; Margoth Chiriboga López; Juan Francisco Almeida


‘Lexvalor has a diverse team of young lawyers who understand new business trends.’

‘I have been able to work with several Lexvalor partners and lawyers and I have been able to verify that they are very competent professionals. Their dynamism and youth is what sets them apart from other more traditional law firms.’

‘Lexvalor Abogados has a team of professionals with extensive knowledge in their practice areas, who are capable of providing timely responses. We work closely with Ricardo Peñaherrera and Alfredo Peñaherrera. In our work with Lexvalor we have seen their ability to find viable solutions to achieve our business. Instead of hindering business initiatives, they are good at finding creative and innovative solutions.’

‘Ricardo and Alfredo Peñaherrera are extremely agile in their responses and have a business vision that allows them to propose creative and innovative solutions. Also, the firm is clearly aligned with our corporate values, an aspect that we value, as we are sure that in addition to its strong legal knowledge, the firm has a strong human sense.’

‘Lexvalor and its lawyers are aware of the issues that we ask them about, and they try to be quick in their responses and efforts.’

Key clients

Corporación Favorita

Vallejo Araujo

Nestlé Ecuador




Alpina Productos Alimenticios del Ecuador


Unión Cementera Nacional UCEM

Arbaro Fund


Chauca Haugan

GLS Constructores


Work highlights

  • Represented Arbaro Fund in its acquisition of Forestry Project and approximately 1,000 hectares of teak including purchase of land, biological assets, sawmills and machinery.
  • Advised Corporación Favorita on a capital increase of $50m for the investment and growth of the company in Ecuador.
  • Advised JCEV Corp on analysing the steps to follow to achieve efficiencies in the corporate structure and the conformation of a good corporate governance scheme for the group.

Ecuador > Dispute resolution Tier 2

Juan Francisco Almeida and Daniela Irigoyen lead Lexvalor Abogados‘ team, which contains ‘young lawyers with a great professional reputation‘. Clients instructing the group mostly stem from the financial services and real estate sectors, turning to the group for assistance in a plethora of litigation, arbitration and mediation processes instigated by and against trusts. Many of the matters handled by the practice are of a commercial or civil nature, arising from contractual and commercial relations. Iván Plascencia at the associate level stands out for his handling of contractual and non-contractual liability cases. Former practice head César Sánchez departed from the firm in September 2022.

Practice head(s):

Juan Francisco Almeida; Daniela Irigoyen


They are young lawyers with a great professional reputation. They work as a team covering various disciplines.’

‘The Lexvalor team, with personalised attention, has been concerned with knowing the client’s requirements, and it has been evident that they have incorporated new technologies and experiences according to client requirements and satisfaction. I consider them a competitive team within the market and with timely attention.’

Key clients


Banco Pichincha

Industrias Ales

Mutualista Pichincha

CR Constructora

Jabonería Wilson

Reserva Mashpi

Banco del Pacifico

Uribe y Schwarzkopf Ingenieros y Arquitectos

Corporación Favorita

Work highlights

  • Acted on behalf of Banco del Pacífico in the processing, filing and promotion of 40 insolvency proceedings against debtors who have not paid their debts to the bank.
  • Advised Corporación Favorita on its acquisition of a property located in Quito from the Cooperativa de Trabajadores del Ministerio de Salud.
  • Advising Vallejo Araujo e Imbauto on a judicial recovery of several credits in its favour, which are generated by the financing of vehicles.

Ecuador > Competition and antitrust Tier 3

Lexvalor Abogados covers a wide spectrum of competition matters, acting primarily for clients in the food, beverage and retail sectors, including the likes of Corporación Favorita, Industrias Ales and Quala Ecuador. Areas of expertise include abuse of market power, cartels, merger control, unfair competition and state aid. Led by market reference Luis Marin Tobar and Ricardo Peñaherrera, a name to note for the regulation of supermarkets and its suppliers, the team shows further capabilities in litigation, both in a domestic and Andean context. Senior associate Camila Sánchez supplements this expertise, with an active practice advising on cases of abuse of dominance, the implementation of compliance programmes and unfair practice matters.

Practice head(s):

Luis Marín Tobar; Ricardo Peñaherrera


‘We have worked with the firm on a case that was highly complex. Its handling of the case was very professional.’

Camila Sánchez was very involved in all stages of the case. She is a very diligent and intelligent lawyer.’

‘Lexvalor Abogados has a team of professionals with extensive knowledge in their practice areas, who are capable of providing timely responses to our concerns. In our work with Lexvalor we have seen its ability to seek viable solutions to achieve our business. Instead of hindering business initiatives, they are good at finding creative and innovative solutions. All of which demonstrates their deep legal knowledge.’

‘Ricardo Peñaherrera is a lawyer with great technical legal knowledge and an excellent business understanding. Both are crucial to advise any company in terms of antitrust. Also, the firm is clearly aligned with our corporate values, an aspect that we value. We are sure that in addition to its strong legal knowledge, the firm has a strong human sense.’

Key clients

Quala Ecuador

Corporación Favorita

Industrias Ales

Yara International

Grupo Superior

Work highlights

  • Retained by Industrias Ales to advise on an alleged unfair competition suit filed by Upfield, for the introduction of a Naturella competitor in the margarine segment.
  • Advising Corporación Favorita both in preventive matters and daily operation of the company, as well as in proceedings before the Competition Authority.
  • Performed preventive advisory work and full competition due diligence for Yarecuador to ensure that Yara complies with Ecuadorian competition laws.

The firm: LEXVALOR Abogados is a dynamic and consolidated full-service law firm with a reputation of excellence, based on outstanding results in line with its clients’ expectations, delivering services from its offices in Quito and Guayaquil and through a wide network of correspondents throughout the world.

LEXVALOR Abogados is the result of the combination of two leading Ecuadorian law firms: Peñaherrera & Ponce Abogados, and LEXVALOR Abogados. The combination of complementary practices through the merger allowed the firm to meet the needs of clients requiring a broader array of specialized services, giving rise to one of the leading full-service law firms in the country.

The firm today has a team of 52 lawyers and a total of 86 members including accountants, financial experts, and staff to support legal and administrative matters. The firm specializes in several areas of law and holds in depth knowledge of the economic sectors in which they perform. The professionals of the firm are trained in prestigious local and international universities.

The firm and its lawyers are members of the following legal networks: International Bar Association (IBA), American Bar Association (ABA), International Fiscal Association (IFA), Ecuadorian Institute of Tax Law, Alliance for Entrepreneurship, and Innovation (AEI), International Trademark Association (INTA), Interamerican Intellectual Property Association (ASIPI) and the Ecuadorean Association of Intellectual Property (AEPI).

Main areas of practice
Banking and finance: The firm has participated in the structuring of capital market transactions, including corporate bond issues, commercial paper, securitizations, and other financial products for company financing. LEXVALOR Abogados is also known for its experience in structuring multilateral credit operations, as well as in syndicated loan operations to finance major projects in Ecuador.

Competition and antitrust: The team provides the full scope of services in the antitrust/competition field, ranging from counsel on abuse of dominance, cartels, merger control, state aid, unfair competition, to litigation in administrative and judicial forums relating to these matters.

Corporate: The firm provides the full range of corporate and strategic counsel for investments in the country. The firm handles multiple corporate matters, especially relating to processes of new company incorporation, business structure, corporate restructuring of business groups, negotiation of contracts, establishment of corporate agreements, commercial advice, among others.

Dispute resolution: The firm specializes in dispute prevention and resolution. The litigation team is specially focused on civil, commercial, administrative, labour and tax actions. The firm represents both public and private entities in international and domestic arbitration as well as mediation processes.

Intellectual property: The IP team handles prosecution and maintenance of IP portfolios locally and worldwide, including trademarks, trade names, designs, patents, copyright. The team is regularly entrusted with litigation in administrative and judicial forums for the defense of IP rights, including anti-counterfeiting actions.

Labour and employment: Advice to clients in matters relating to labour contracts and prevention of labour conflicts that may arise from the relationship between workers and employers. The firm also provides assistance on social security matters and immigration issues.

Mergers and acquisitions: Our team has consolidated a specialized M&A practice through a portfolio of transactions in a wide range of industries, representing buyers or sellers, in both local and multijurisdictional transactions. Our full-service practice approach allows us to integrate specialists from different teams to provide a tailored and multidisciplinary corporate advisory service in transactions

Real estate: LEXVALOR Abogados provides legal advice throughout all stages of real estate projects, from the acquisition of the land and the obtainment of municipal permits to the structuring of tax and contractual schemes for the project implementation.

Tax: The team of professionals specialize in fiscal related matters, finance, and accounting. LEXVALOR Abogados’ services include tax–efficient structures for transactions and strategic tax planning. It also represents clients before the tax authorities and courts on tax and customs.

Department Name Email Telephone
Banking and Finance Héctor Barahona hbarahona@lexvalor.com (593) 2 3230375
Banking and Finance Daniela Irigoyen dirigoyen@lexvalor.com (593) 2 3230375
Banking and Finance Margoth Chiriboga mchiriboga@lexvalor.com (593) 2 3230375
Competition and Antitrust Luis Marín Tobar lmarin@lexvalor.com (593) 2 3230375
Competition and Antitrust Ricardo Peñaherrera rpenaherrera@lexvalor.com (593) 2 3230375
Compliance Marcelo Morabowen mmorabowen@lexvalor.com (593) 2 3230375
Compliance Margoth Chiriboga mchiriboga@lexvalor.com (593) 2 3230375
Corporate and M&A Alfredo Peñaherrera apenaherrera@lexvalor.com (593) 2 3230375
Corporate and M&A Héctor Barahona hbarahona@lexvalor.com (593) 2 3230375
Corporate and M&A Fabricio Dávila fdavila@lexvalor.com (593) 2 3230375
Dispute Resolution Juan Francisco Almeida jalmeida@lexvalor.com (593) 2 3230375
Dispute Resolution Daniela Irigoyen dirigoyen@lexvalor.com (593) 2 3230375
Data Protection Ricardo Peñaherrera rpenaherrera@lexvalor.com (593) 2 3230375
Energy and Natural Resources Alfredo Peñaherrera apenaherrera@lexvalor.com (593) 2 3230375
Fintech Gabriela Guzmán gguzman@lexvalor.com (593) 4 6006280
Fintech Margoth Chiriboga mchiriboga@lexvalor.com (593) 2 3230375
Labour and Employment Karla Villacís kvillacis@lexvalor.com (593) 2 3230375
Labour and Employment Alfredo Peñaherrera apenaherrera@lexvalor.com (593) 2 3230375
M&A Héctor Barahona hbarahona@lexvalor.com (593) 2 3230375
M&A Margoth Chiriboga mchiriboga@lexvalor.com (593) 2 3230375
Public Law Daniela Irigoyen dirigoyen@lexvalor.com (593) 2 3230375
Real Estate Juan Francisco Almeida jalmeida@lexvalor.com (593) 2 3230375
Real Estate Karla Villacís kvillacis@lexvalor.com (593) 2 3230375
Tax Carlos Coronel ccoronel@lexvalor.com (593) 2 3230375