Palacios, Torres & Korody

Palacios, Torres & Korody is noted for its capacity to advise on matters at the complex intersection of high-value corporate restructuring, energy-sector taxation and extreme currency distortions. The firm is a sought-after advisor for global conglomerates in the food and beverage, pharma and energy sectors, managing the entire lifecycle of a Venezuelan investment, from massive recapitalisations to structured divestments and orderly market exits. The team is also a dominant force in litigation, specialising in applying the constitutional ‘ability-to-pay’ principle to shield energy majors from confiscatory ’phantom income’ tax assessments. The practice is also recognised for its advice on implementing offshore structures and dormant repurchase options to mitigate sanctions risk, alongside advising on crypto-asset frameworks for international settlements. Juan Korody heads the tax, energy and corporate practices, acting as the lead architect for significant financial restructurings and international financings. Carlos Plaza also leads the energy and corporate departments as the go-to partner for multinational divestment strategies and upstream regulatory issues. The tax practice is further headed by Leonardo Palacios, a specialist in high-stakes audits and transfer pricing matters, and José Torres, who manages hierarchical appeals and sensitive fiscal interventions. Junior partner Daniel Betancourt is well versed in complex litigation involving constitutional issues and acts as the primary expert on crypto-asset frameworks and pharma licensing. The labour practice is headed by of counsel Henrique Castillo, a lead negotiator for collective bargaining and industrial mass-claim defence. The firm is supported by a deep bench of associates including Virginia Guillén, who is key to corporate and tax matters; Alejandro Granadillo, who handles audit defence and labour litigation; Andreína González, who focuses on cross-border compliance and energy subsidiary dissolutions; and Erika Cornilliac, who contributes expertise in tax-linked litigation and customs matters, specifically regarding cryptocurrency indexation and municipal assessments.