Team size: Approximately 15

What has been the number one challenge that has impacted you over the past year?

My number one challenge last year was acting as a legal and administrative advisor to a non-profit organisation – the majority shareholder Financiera FDL. As legal manager, I served as the in-house counsel of this organisation, which at that time, was about to be closed for political reasons.

In 2022, the Nicaraguan government closed over 1,000 non-profit organizations, alleging non-compliance with Anti-Money Laundering, Financing of Terrorism, and Financing the Proliferation of Weapons of Mass Destruction regulations, although, majority of these closures were politically motivated.

I appeared before government institutions and held meetings with public officials for several months to ensure the renewal of permits and records of the organization’s operation and guarantee its continuity. Additionally, I was exposed to professional and personal scrutiny by these public officials.

By the end of 2022, the organisation was not closed – but together with 28 microfinance non-profit organizations, became a corporation.

In which ways have you attempted to bring the legal department closer to your business colleagues?

I have brought the legal department closer to business colleagues through the following ways:

Establishing an open-door policy.

Developing training for personnel in business and operations departments, on new types of loan agreements and collaterals according to national legislation.

Addressing legal inquiries and concerns of the company´s departments.

Redirecting and delegating functions to team members so that they can immediately respond to business colleagues.

What are some of the most significant cases and transactions you have been involved in recently?

Before the publication and establishment of Law 1137, we were warned of its possible approval by the company’s regulatory body. Hence, I began to advise and direct the senior management of the majority shareholder of Financiera FDL on legal processes and changes that would be necessary for the transformation of the organization into a corporation. This involved the creation of a corporation and transfer of all the assets, liabilities, rights, and obligations of the organization within 90 days from its establishment as a law.

Consequently, in May 2022 I lead a due diligence process, assisted by internal lawyers, a regional legal firm and other external lawyers. During this process, an inventory was made of all the assets, liabilities, patrimony and obligations of the organization, to be transferred to the successor corporation of the non-profit organization.

As an intermediary between the investors and shareholders of Financiera FDL, I coordinated and led meetings to report on leadership changes to which Financiera FDL will be subjected, due to the transformation of its majority shareholder into a corporation.

With the assistance of external and internal lawyers, I prepared all legal documentation necessary for the transfer of assets, liabilities, rights, and obligations of the non-profit organization to its successor corporation.