Firm Profile > CMS Albiñana y Suárez de Lezo > Madrid, Spain

CMS Albiñana y Suárez de Lezo
28004 MADRID

Capital markets: Debt Tier 2

CMS Albiñana y Suárez de Lezo acts for clients in the areas of structured finance and securitisation, including debt capital markets, derivatives and compliance. The firm is particularly focused on innovation at a geopolitical, regulatory and technological level. César Albiñana leads the practice and has expertise in capital markets and banking law. His team was boosted by the arrivals of Ignacio Zarzalejos, who joined from Uría Menéndez in 2019 and specialises in M&A, as well as corporate and securities market law; and senior associate Andrea Salgueiro, who joined from the private sector in 2019 and advises on capital markets transactions, structured financing and derivative instruments. Ignacio Ramos, formerly a counsel in the team, left the firm in 2020.

Practice head(s):

Key clients

Banco Santander

Edmond de Rothschild Group

Ahorro Corporación Financiera

Westbourne Capital

Commercial, corporate and M&A Tier 2

The ‘first-class' CMS Albiñana y Suárez de Lezo provides the full spectrum of M&A and corporate advice, particularly in the energy and insurance sectors. The firm has expertise in venture capital, outsourcing, capital markets, group restructuring and privatisation. Managing partner César Albiñana specialises in the securities market, corporate law and regulatory advice. He co-leads the practice with the ‘very valuable and trustedRafael Suárez de Lezo, who has expertise in group restructurings. The team was strengthened in 2019 by the arrivals of M&A, corporate and securities market law expert Ignacio Zarzalejos, from Uría Menéndez, and counsel Pedro Ferreras, who joined from Ferreras Abogados and is known for advising start-ups and leading technology companies. Also notable are Rafael Sánchez and Javier Leyva, who were promoted to partner in 2019 and focus on private equity and venture capital.


‘César Albiñana is a first-class lawyer, who is always available and ready to provide support’

‘A pro is the strength of their network and how they work in a co-ordinated manner’

‘Fully available, with the most complete knowledge of corporate and M&A practice in Spain’

‘Javier Leyva is a very reliable partner and he is always available. He has been advising on my company for years, providing the best advice and service’

‘They act as a real team, can support you even in the absence of partners, and are able to transfer customer knowledge within their organisation’

‘The team is always very aware of the client’s needs, trying to resolve every situation in a short period of time’

‘Rafael Suárez de Lezo always followed the project as well as leading the team. It was a great pleasure to work with such an experienced lawyer who had different points of view at all stages and took action with the counter-parties’

Key clients


Brookfield Renewable Energy Partners

Advance Publications


Compass Group

Emerging Markets Property Group: EMPG

Encavis AG

Inypsa Renovables

Boluda Towage and Boluda Corporación Marítima


LC Publishing Group


Universities Superannuation Scheme Limited


Industry focus: TMT Tier 2

Javier Torre de Silva leads the TMT practice at CMS Albiñana y Suárez de Lezo with telecoms specialist Jorge Sánchez, who has experience in projects involving underwater high-capacity fibre infrastructure. The team provides regulatory advice and has particular experience in the telecoms area. Other key areas of work include film production and finance, content distribution, digital marketing, machine-to-machine and Internet of Things agreements, e-commerce, outsourcing advice, big data and defamation cases. José Luis Piñar, who focuses on IT and data protection law, is also recommended. The group is currently advising BT España on day-to-day regulatory, commercial and data protection matters.


Well-prepared and responsive team’

‘Javier Torre de Silva is an outstanding lawyer’

Key clients

Algerie Telecom Europe

Amazon Web Services (AWS)

Ferrovial Corporación


Fundación Centro De Innovación De Infraestructuras Inteligentes (CI3) (Ferrovial Group)

British Telecom España (BT España)

Banco de Sabadell

Projects and energy Tier 2

CMS Albiñana y Suárez de Lezo focuses on financing in the infrastructure and energy sectors, particularly M&A transactions for foreign and local clients. The firm has strong connections with investment funds, as well as public sector bodies. César Albiñana and Luis Miguel De Dios lead the practice.


‘Deep knowledge of regulation and business’

‘Practical approach to solving the problem’

‘Proactive and common-sense advice’

‘They know perfectly the needs of the client, its activity and requests and draw up a particular strategy in a proactive way to give the best advice to the client’

Key clients

Universities Superannuation Scheme Limited (USS)



Brookfield Asset Management

Iberdrola Group

General Electric Renovables España


Wirsol Solar

British Petroleum (BP)

Redexis Gas

Wind To Market


Public law Tier 2

CMS Albiñana y Suárez de Lezo is known for advising the Spanish public sector on matters of administrative law, public procurement and regulatory law. The firm has particular expertise in public procurement processes, as well as disputes in the area. Former state attorney and public law expert Ignacio Grangel joined in 2019 from the private sector to head the firm’s public law and regulated sectors department. Co-leading the team with him are César Albiñana, Javier Torre de Silva and Juan José Zabala.


‘Experience, availability, adaptability to the conditions and requirements necessary to complete the work’

‘Experience and great technical and practical abilities’

‘Javier Torre de Silva stands out for his excellent professional quality at all levels’

‘CMS is among the best offices in Spain’

‘Javier Torre de Silva deserves a special mention because of his advanced knowledge of public law’

Key clients

Banco Santander

Ferrovial Group (including Fundación CI3 and Cintra)

Caverel Assets

Aldesa Construcciones

UTE Sarriá de Ter (Aldesa Construcciones – Coalvi)

Boluda Corporación Marítima

Diagnóstica Stago


Red Eléctrica de España

OHL Concesiones


Redexis Gas


Globalvía Group

White-collar crime Tier 2

CMS Albiñana y Suárez de Lezo advises on corporate criminal law, providing the traditional services of legal prosecution and defence, as well as expertise in preventive criminal law and corporate compliance. The firm is particularly active in financial criminal law and crime prevention compliance. Practice head Carlos Aguilar is well regarded for criminal, civil, corporate and constitutional law, with a notable focus on financial criminal law.

Practice head(s):


‘Longstanding knowledge of the cases’

‘The partner managing our file is top technically and understands the dynamics of this kind of case’

Key clients


Red Eléctrica De España

Banking and finance Tier 3

Particularly known for acquisition finance and debt refinancing, CMS Albiñana y Suárez de Lezo also has experience in real estate and project finance. The ‘very skilled’ practice has the ‘highest level of expertise in international cases’. Abraham Nájera leads the team and specialises in structured financing, restructuring and debt portfolio transactions, acting for financial institutions and debtors.

Practice head(s):


‘They offer a comprehensive and efficient service’

‘The plus is that they are always very quick to respond and they also understand well the needs of their clients’

‘Abraham Nájera and Alvaro Otero Moyano always attend to us very well and try to do everything possible to resolve the issues’

‘Highly qualified and effective team’

‘Constancy, efficiency and honesty in the development of financial advice’

Key clients

Grupo Boluda

Blue Sea Hotels & Resorts

Banco Santander

BBVA and Banco Popular Español

Gamut Capital Management


Global Student Accommodation (GSA)

Frux Capital

Inypsa (Airtificial)

Capital markets: Equity Tier 3

CMS Albiñana y Suárez de Lezo has experience in a range of capital markets transactions, notably IPOs. Corporate and M&A specialist Carlos Peña is active in this area.

Dispute resolution Tier 3

CMS Albiñana y Suárez de Lezo specialises in advising financial institutions on litigation and arbitration proceedings, particularly in relation to breaches of SPAs and director liability, as well as acting in corporate disputes and matters arising from distribution and agency contracts. Notable in the area are Luis Javier Vidal, who has experience in the areas of civil litigation, corporate, banking law and insolvency, as well as domestic and international arbitration, and Juan Ignacio Fernández Aguado, who specialises in civil and commercial litigation, insolvency, financial crime and contentious administrative issues.


‘I think they are a great team who are able to deal with everything we need’

‘The team is very efficient and everybody knows what they have to do’

‘Jorge Sánchez is one of the greatest lawyers in Spain. He is clever and his ideas are always interesting’

Key clients

Iberdrola/Endesa/ Kutxabank/Corporación Mondragó

Deutsche Bank

Novo Banco

Adveo España & Adveo Group International

Ibercaja Group


Banco Santander

Intellectual property: Copyright Tier 3

The copyright team at CMS Albiñana y Suárez de Lezo is headed by María González Gordon, who joined from Gómez-Acebo & Pombo.

Practice head(s):

Employment Tier 4

The employment team at CMS Albiñana y Suárez de Lezo is made up of 'practical' professionals with multi-jurisdictional expertise across a range of areas, including litigation, collective bargaining and M&A. The practice is jointly led by the 'outstanding' César Navarro and the 'reliable' Elena Esparza. Work highlights include advising on claims filed by a group of employees against two different Iberdrola subsidiaries as a result of a share deal.

Practice head(s):


‘The team is very responsive and always available when needed. Their approach and advice is very practical and gets to the point’

‘César Navarro provides outstanding support to the client. The team provides detailed understanding of the subject matter, and huge energy, drive and focus. I really trust their advice’

‘Eva Ceca and César Navarro are reliable and trustworthy. I strongly recommend them’

Key clients

Siemens Gamesa Renewable Energy




ID Logistics

Club Med


Insurance Tier 4

CMS Albiñana y Suárez de Lezo has experience advising on policy working and corporate matters in the insurance sector, as well as cybersecurity insurance and regulatory advice. Counsel Rafael Sáez leads the practice and assists insurers and intermediaries with conducting activities in the Spanish market. His work includes advising on the underwriting process of W&I, insurance contracts for M&A transactions and the restructuring of multinational insurance businesses. In a recent highlight, the team advised AXA on a cross-border restructuring transaction.

Practice head(s):


‘Very good knowledge of the product. An exceptional team, very creative in finding solutions’

‘Very business and client oriented’

‘Always meet deadlines and have a good knowledge of the process’

Key clients

AXA Group

Chubb Insurance Group

Beazley Limited

AIG Europe Limited (Spanish branch)

Willis Towers Watson Group

Sompo International



Liberty Group

Assist Card

Pension Insurance Corporation (PIC)

British United Provident Association Limited (BUPA)

Zurich Assurance Limited

Lemonade Insurance Company

Real estate and construction Tier 4

CMS Albiñana y Suárez de Lezo is known for providing transactional advice, particularly in cross-border matters. The firm is also experienced in leasing, asset management, construction and design agreements, notably in the hospitality and leisure sectors. Álvaro Otero specialises in the sale and purchase of real estate companies and real estate assets, as well as sale and leaseback operations.

Practice head(s):


‘The team is very thorough and includes lawyers who have amazing skills from both a legal and a commercial perspective’

‘Ãlvaro Otero is one of the best known real estate partners in Spain. His deep knowledge of real estate practice makes clients feel really comfortable and tranquil when it comes to specific transactions and day-to-day matters’

‘Alvaro Otero has the commercial skill to deal with difficult situations’

Key clients

Global Student Accommodation (GSA)

CBRE Global Investors

Catella Asset Management Iberia


Franklin Templeton

Soverino / Inversiones Hoteleras Ebza

Neilson Holidays

Delin Capital

Santalucía Seguros

Arcano (Arcano Value Added Real Estate II)


Allianz Real Estate and VGP


Restructuring and insolvency Tier 4

The ‘sophisticated and pragmaticCMS Albiñana y Suárez de Lezo has an international focus, with particular expertise in insolvency and pre-insolvency issues, as well as banking and creditors' refinancing. The firm is active on the debtor side, acting for clients including multinationals, infrastructure concessionaires and smaller domestic companies. Senior partner Rafael Suárez de Lezo co-leads the practice with the ‘very commercial, seasoned and effectiveJuan Ignacio Fernández Aguado, who has ‘tremendous knowledge of bankruptcy law’.


‘Juan Ignacio Fernández Aguado is a guy who is not going to sacrifice the details and is willing to pursue the client’s interests strongly’

‘Really focused on goals and results’

‘Everyone contributes – they really listen to the customer’s requirements’

‘They have very good knowledge of the practice, not only in insolvency matters, but in restructuring too’

‘Apart from his perfect technical performance, as a person Juan Ignacio Fernandez Aguado has a character that helps to find agreements and solutions to all problems regarding insolvency and restructuring’

‘They understand the need to work in synchronised teams’

‘What makes them stand out is their dedication and understanding of the issues’

‘The team’s best quality is the ability to immediately see the issues and problems that arise’

‘They are a great team that understanding the different issues of any complex restructuring – banking, procedural, bankruptcy, corporate – very well’

Key clients

Charmartín La Grela

MGO By Westfield


Grupo Itek

Grupo MGO


Haintong and Novo Banco

Banesto and 22 financial entities

Grupo Casabella Proyectos Inmobiliarios

Grupo Jiménez Belinchón

MCH Private Equity Investments

GFB Cantabria, Euroamerica and Grupo Pujol Martí

Tax Tier 4

The 'committed' and 'efficient' tax team at CMS Albiñana y Suárez de Lezo regularly advises Spanish and multinational companies on tax transactions and planning, with additional expertise in VAT and transfer pricing. The department is also known for acting for high-net-worth individuals. Team head Diego de Miguel has a particularly strong reputation among French corporate clients active in the Spanish market. In a recent highlight, he represented Siemens Gamesa in negotiations with local Spanish authorities on the tax treatment of compensation following a highly publicised redundancy plan. Ricardo Héctor and Carlos Palma, who was promoted to counsel in 2018, are also key lawyers.

Practice head(s):


What is unique is their personal touch, their honesty and their dependability.’

‘We found Ricardo Hector Lorca to be efficient, prompt, compassionate, level-headed and everything you would want in a lawyer.’

I was offered a very quick response for a multi-disciplinary matter that was very urgent. From one day to another a team of senior professionals was available for a meeting and I felt supported all the time. The firm’s tax department led the project and took care of delivering all the works in a manageable way.’

‘Ricardo Héctor Lorca performed with a superb level of seniority and dedication. A great professional whom I found exceptional in customer management, project management and leadership.’

The CMS tax department has a deep knowledge of tax practice in Spain. They deal with very complicated transactions and structures, always providing the best service to clients.’

‘Diego de Miguel is a well-known tax lawyer and partner in Spain. Despite his youth his deep and broad tax experience is amazing. He is always available when needed and always makes a complicated situation easy to understand.’

They are highly skilled. I am truly satisfied with their responsiveness, their problem-solving approach and very happy with their work. In my view, CMS’ tax team is pragmatic and very straightforward with their advice, and that is something that we really value. Doing their work efficiently allows them to be competitive on fees with a top-level tax firm.’

Diego de Miguel is making himself a name in the Spanish tax advisory market. He is technically very solid and above all very competent (so is his team). What I like the most about Diego is that he is very client centred. He is very quick at identifying our concerns on any matter and provides straightforward advice. I would say Diego is an easy-going person with great social skills, which makes it even easier to work with him.’

‘Rafael Ortiz de Zuriarrain is technically well-prepared, and stands out for his responsiveness and full availability.

Key clients

Siemens Gamesa Renewable Energy



Demium Startups


Pernod Ricard

LC Publishing Group

Grupo AXA

Schneider Electric

Chubb Insurance Group

EU and competition Tier 5

Specialising in merger control cases and infringement procedures, CMS Albiñana y Suárez de Lezo is particularly active in the consumer goods sector. Carlos Vérgez, who joined from BROSETA Abogados in 2018, leads the practice. He brings experience in advising multinationals on competition law and unfair competition. Notable in his team is senior associate Aida Oviedo, who has expertise advising on restrictive practices, abuse of dominant position, merger control and unfair competition.

Practice head(s):

Key clients

Coca-Cola European Partners




Hijos De Rivera


Advance Publications Inc.

RCI Banque

Tendam Global Fashion Retail

Hüttenes Albertus Ilarduya

Private equity Tier 5

CMS Albiñana y Suárez de Lezo is active in various private equity matters. Notable in the area is Carlos Peña, who is experienced in M&A, privatisations, joint ventures, strategic alliances and other corporate matters.

Ranked as a Top 5 Global Law Firm, CMS is present in 43 countries and boasts 75 offices worldwide. Our 4,800 plus CMS lawyers offer you specialist advice on numerous sectors, tailored to your needs whether in your local market or across multiple jurisdictions.

CMS’ Spanish-based firm, CMS Albiñana & Suárez de Lezo, employs more than 110 lawyers located in Madrid, Barcelona and Seville. It is highly regarded and is among the leading business law firms in Spain, advising corporate and public entities on all areas of business law, including contentious matters. The firm has particular standout experience in the energy, construction, financial, TMT, consumer goods and hotels and leisure sectors.

Department Name Email Telephone
Corporate / M&A | Capital Markets Cesar Albiñana
Corporate / M&A Rafael Suárez de Lezo
Corporate / M&A Carlos Peña
Corporate / M&A Luis Miguel de Dios
Corporate / M&A José María Rojí
Corporate / M&A Antonio Pino
Corporate / M&A Mariano Bautista
Corporate / M&A | Capital Markets Ignacio Zarzalejos
Corporate / M&A Pedro Ferreras
Corporate / M&A Rafael Sáez
Corporate / M&A José Ramón Meléndez
Public Law & Regulated Sectors Ignacio Grangel
Public Law & Regulated Sectors Reyes Robledo
Public Law & Regulated Sectors José Luis Pérez-Campoamor
Litigation & Arbitration | White-Collar Crime Carlos Aguilar
Litigation & Arbitration María Dolores de Cospedal
Litigation & Arbitration | Insolvency & Restructuring Juan Ignacio Fernández Aguado
Litigation & Arbitration Luis Javier Vidal
Litigation & Arbitration Jorge Sánchez
Litigation & Arbitration Antonio Fernández de Hoyos
EU & Competition Carlos Vérgez
Tax Diego de Miguel
Tax Ricardo Héctor
Tax Carlos Palma
Employment & Pensions César Navarro
Employment & Pensions Elena Esparza
Intellectual / Industrial Property & Digital Business María González Gordon
TMC / Data Protection Javier Torre de Silva
TMC / Data Protection Jorge Sánchez
Real Estate & Construction Álvaro Otero
Energy & Natural Resources César Albiñana
Energy & Natural Resources Ignacio Grangel
Energy & Natural Resources Luis Miguel De Dios
Insurance Carlos Peña
Insurance Rafael Sáez
Consumer Products Carlos Vérgez
Infrastructure & Projects Javier Torre De Silva
Life Sciences & Healthcare Mariano Bautista
Hotels & Leisure Mariano Bautista
Hotels & Leisure Álvaro Otero
Photo Name Position Profile
Mr Carlos Aguilar  photo Mr Carlos Aguilar Partner
Mr César Albiñana  photo Mr César Albiñana Managing Partner of CMS Albiñana & Suárez de Lezo
Mr Mariano Bautista  photo Mr Mariano Bautista Partner
Ms Eva Ceca  photo Ms Eva Ceca Senior Associate
Ms María Dolores De Cospedal  photo Ms María Dolores De Cospedal Partner
Mr Luis Miguel De Dios  photo Mr Luis Miguel De Dios Partner
 Elena Esparza photo Elena Esparza Partner
Mr Juan Ignacio Fernández Aguado  photo Mr Juan Ignacio Fernández Aguado Partner
Mr Pedro Ferreras  photo Mr Pedro Ferreras Counsel
Ms María González Gordon  photo Ms María González Gordon Partner
Mr Ignacio Grangel  photo Mr Ignacio Grangel Partner
Mr Ricardo Héctor  photo Mr Ricardo Héctor Counsel
Mr José Ramón Meléndez  photo Mr José Ramón Meléndez Counsel
Mr César Navarro  photo Mr César Navarro Partner
Mr Álvaro Otero  photo Mr Álvaro Otero Partner
Ms Aida Oviedo  photo Ms Aida Oviedo Senior Associate
Mr José Luis Pérez-Campoamor  photo Mr José Luis Pérez-Campoamor Counsel
Mr Carlos Palma  photo Mr Carlos Palma Counsel
Mr Carlos Peña  photo Mr Carlos Peña Partner
Mr José Luis Piñar  photo Mr José Luis Piñar Consultant
Mr Antonio Pino  photo Mr Antonio Pino Partner
Ms Reyes Robledo  photo Ms Reyes Robledo Counsel
Mr José María Rojí  photo Mr José María Rojí Partner and Director of the CMS Barcelona office
Mr Rafael Sáez  photo Mr Rafael Sáez Counsel
Mr Jorge Sánchez  photo Mr Jorge Sánchez Partner – Barcelona Office
Ms Andrea Salgueiro  photo Ms Andrea Salgueiro Senior Associate
Mr Rafael Suárez de Lezo  photo Mr Rafael Suárez de Lezo Managing partner
Mr Javier Torre de Silva  photo Mr Javier Torre de Silva Partner
 Carlos Vérgez photo Carlos Vérgez Partner
Mr Luis Javier Vidal  photo Mr Luis Javier Vidal Partner
Mr Ignacio Zarzalejos  photo Mr Ignacio Zarzalejos Partner
Mr Diego de Miguel  photo Mr Diego de Miguel Partner
Total workforce in Spain : 180
Number of lawyers : 110
Barcelona :
Seville :

CMS’ Spanish-based firm, CMS Albiñana & Suárez de Lezo, employs more than 100 lawyers located in Madrid, Barcelona and Seville, and is regarded as one of the most prestigious in the Spanish market, striving to establish a close working relationship with clients in order to fully understand their needs and offer innovative solutions in all areas of Law.

Ranked as a Top 10 Global Law Firm, CMS is present in 41 countries and 72 offices worldwide. Oue 4,800 plus CMS lawyers offer specialist advice on numerous sectors tailored to our clients needs, whether in the local market or across multiple jurisdictions.

Department Name Email Telephone
Managing Partner César Albiñana
Managing Partner Rafael Suárez de Lezo