Dentons Paz Horowitz

Dentons Paz Horowitz is pleased to announce the promotion of Verónica Chiriboga to Partner of the Intellectual Property Practice, in recognition of her outstanding professional trajectory, leadership, and significant contribution to the growth and positioning of this practice within the firm. Verónica has more than 15 years of professional experience, including six years at Dentons Paz Horowitz, where she has served as Legal Director of the Intellectual Property area. Her strong technical expertise, strategic vision, and client-focused approach have been instrumental in strengthening and driving the sustained growth of the Intellectual Property practice, which has a 35-year history within the firm. Throughout her tenure at Dentons Paz Horowitz, Verónica has led key initiatives, including the optimization and implementation of a comprehensive digital system for trademark and documentation management, the incorporation of advanced tools for visual, phonetic, and conceptual similarity analysis, and the enhancement of trademark watch and monitoring services, positioning the firm as a leading reference in intellectual property matters in Ecuador. In addition, she has successfully led and litigated complex intellectual property matters, achieving favorable results that have strengthened client confidence and supported the continued growth of the practice. With this appointment, Dentons Paz Horowitz reaffirms its commitment to the development of internal talent, professional excellence, and the continued strengthening of its strategic practice areas, always in service of its clients.

Dentons Paz Horowitz acted as legal structuring counsel in a USD 34 million financing transaction granted to Banco de Machala, in a joint operation with BlueOrchard Finance Ltd., Triple Jump, and Green Capital Partners. This transaction supports the bank’s growth strategy and strengthens its position within the Ecuadorian financial system, while also reaffirming the continued interest of international investors in the local market. The transaction was led by Banking and Finance partners Rocío Córdova and Gabriel Solís Vinueza, who headed a multidisciplinary team responsible for the comprehensive legal structuring of the deal, ensuring its validity, enforceability, and proper execution in accordance with Ecuadorian regulations and the financial institution’s internal policies. Scope of legal advice Dentons Paz Horowitz’s role included a thorough review and coordination of all key legal aspects of the transaction, including: Analysis of the financing structure to determine the type of credit facility, review the amount, term, interest rate, fees, and other financial conditions, as well as assessment of the use of proceeds and identification of obligors and guarantors. Legal due diligence of the borrower, including verification of Banco de Machala’s legal existence, good standing, and legal capacity, review of its corporate purpose, bylaws, amendments, appointments, powers of attorney, and compliance with corporate obligations before regulatory authorities. Corporate authorizations, through the preparation and review of corporate resolutions, board minutes, and validation of the legal representative’s authority to execute the credit and security documentation. Contractual documentation, including the review, negotiation, and structuring of the credit agreement and ancillary documents, with particular attention to financial covenants, events of default, acceleration provisions, and penalties. Security structuring, through the analysis and design of the collateral package in accordance with Banco de Machala’s requirements. Regulatory and banking compliance, ensuring adherence to applicable regulations issued by the Superintendence of Banks. Conditions precedent and disbursement, identifying and verifying compliance with pre-disbursement conditions, reviewing supporting documentation, and providing legal support throughout the process. Issuance of the legal opinion, covering the validity and enforceability of the credit documents, the borrower’s capacity and due representation, compliance with corporate authorizations, and the validity and perfection of the security interests. With this transaction, Dentons Paz Horowitz reaffirms its experience in complex and cross-border financial transactions, as well as its commitment to supporting financial institutions and investors in developing solid, efficient structures aligned with market best practices.

Dentons Paz Horowitz is proud to announce its role in supporting the expansion of the renowned international restaurant chain Taco Bell into Ecuador and Peru, providing comprehensive legal counsel throughout every stage of the project. In a strategic transaction, the Cuenca-based Sociedad Gourmet Hospitality Group acquired Taco Bell’s operations in Peru and spearheaded the brand’s return to Ecuador after a 16-year absence — marking a significant milestone in the growth of the international franchise sector in the country. Our founding partner Jorge Paz Durini, together with partner María del Mar Heredia, were part of the legal team that advised Sociedad Gourmet Hospitality Group throughout the process, including the acquisition of Taco Bell’s Peruvian operations as a preliminary step toward its re-entry into the Ecuadorian market. The Dentons Paz Horowitz team also provided guidance on structuring and securing the investments that enabled the continued operation in Peru and the opening of the brand’s first locations in Ecuador. This project represents another key milestone in Taco Bell’s international growth journey and reaffirms Dentons Paz Horowitz’s commitment to promoting foreign investment and supporting business expansion across the region. On behalf of the entire Dentons Paz Horowitz team, we extend our best wishes for continued success in this new chapter.

Dentons Paz Horowitz congratulates its client CREPIER on the opening of their first store in Ecuador, marking the company’s first location outside of Peru — a key milestone in its regional expansion. We are proud to have supported this achievement by providing continuous and comprehensive legal advice to enable its establishment and operations in the country. The Dentons Paz Horowitz team supported CREPIER through every stage of the process, from the structuring and incorporation of its company to the compliance with corporate, regulatory, and labor requirements necessary to start operations in Ecuador. This milestone reflects Dentons Paz Horowitz’s commitment to providing strategic, personalized, and results-oriented legal solutions, enabling our clients to expand their businesses with confidence and legal certainty. The project was led by Agustín Acosta Cárdenas, our Managing Partner, together with Valeria Rosero, Legal Director of the Corporate area, with support from Patricia Andrade and Francisco Moya from the Labor team. The entire team at Dentons Paz Horowitz celebrates this important achievement and thanks CREPIER for placing their trust in our firm to support their growth in Ecuador.       Dentons Paz Horowitz congratulates its client CREPIER on the opening of their first store in Ecuador, marking the company’s first location outside of Peru — a key milestone in its regional expansion. We are proud to have supported this achievement by providing continuous and comprehensive legal advice to enable its establishment and operations in the country.

Dentons Paz Horowitz is pleased to announce that Carmen Crespo has joined the firm as a Partner in its Tax practice. With over a decade of experience in tax law, Carmen brings a deep understanding of cross-border taxation, international transactions, and corporate tax planning. Carmen advises multinational corporations, private equity funds, and high-net-worth individuals on a broad range of tax matters, including mergers and acquisitions, restructurings, investment strategies, and U.S. tax compliance. Her experience extends to navigating complex treaty applications and advising clients in multiple jurisdictions. Prior to joining Dentons, Carmen spent 5 years as a Manager in the Transaction Tax Advisory practice at Ernst & Young LLP in the United States, Followed by over a year and a half as part of the EY US Desk in Munich, Germany. During her time at EY, she led major due diligence and structuring projects, supported IPO-related tax planning, and advised on significant divestitures involving over 28 jurisdictions. In Ecuador, Carmen began her career at a boutique law firm, where she represented clients in commercial, tax, and administrative litigation, including proceedings involving the Ecuadorian government. Carmen holds an LL.M. in Taxation from Georgetown University Law Center, where she graduated with distinction, and a Master of Laws with a specialization in Tax Law from Universidad Andina Simón Bolívar. She is admitted to practice in Ecuador, New York, and Washington, D.C. Reflecting on her new role, Carmen said: “After several years advising clients on international tax strategies across multiple jurisdictions, joining Dentons represents an exciting opportunity to offer world-class service to clients in Ecuador and beyond. I look forward to contributing to the firm’s continued growth and excellence.” Carmen joins a dynamic team at Dentons Paz Horowitz, which provides integrated legal services across more than 20 practice areas and industries throughout Latin America and globally. As part of Dentons, the world’s largest law firm with more than 21,000 professionals in over 200 locations across 80+ countries, Dentons Paz Horowitz continues to strengthen its position as a leading legal advisor in the region.

In a significant step forward for the Loja-Catamayo Road Corridor in Ecuador, Dentons will support the Canadian Commercial Corporation (CCC) in structuring this project under a Public-Private Partnership (PPP) model. This initiative aims to enhance connectivity in southern Ecuador and drive economic growth in the region. Dentons' infrastructure team in Canada, led by Ilan Dunsky, along with the Ecuador infrastructure team, led by Gabriel Solís, will be involved in the legal and transactional structuring, as well as local coordination and alignment with the country’s legal and regulatory frameworks. Our partner, Gabriel Solís, supported by Dentons Paz Horowitz Managing Partner, Agustín Acosta Cárdenas, and Founding Partner Jorge Paz, has played a crucial role in navigating the complexities of the local legal environment, ensuring the project’s seamless execution and integration with Ecuador’s broader infrastructure objectives. “We are thrilled to be part of this transformative project and to contribute to the creation of a safer and more efficient transportation corridor for the people of Loja province and the productive sectors of southern Ecuador,” said Gabriel Solís. The significance of this project goes beyond improving road infrastructure. Enhanced connectivity will facilitate better access to Catamayo Airport, a critical hub for travel in southern Ecuador. This is expected to spur economic growth, strengthen integration with the rest of the country, and create new opportunities for local communities. The signing of the Government-to-Government (G2G) contract marks a critical step in the realization of this infrastructure project. The agreement between CCC and Ecuador’s Secretariat for Public-Private Investments brings Canadian expertise in legal and transactional structuring to support Ecuador’s vision of modernizing its road infrastructure. The joint efforts of Dentons Canada and Dentons Paz Horowitz in Ecuador highlight the firm’s commitment to fostering international collaboration. For more information, please contact [email protected].