Chambers Global
2005-2006

URUGUAY

BANKING & FINANCE

The firm: This prominent and traditional Uruguayan outfit has “invaluable experience in banking and finance matters,” leading observers to praise its “extraordinary organisation and responsiveness.” “Number one” to many minds, competitors envy “the country’s most important client list with a large number of banks.” Satisfied clients reflected: “Every field of business law that you can possibly think of, they have an expert in it – authorities, companies and judges respect them.”

The Lawyers: Interviewees agree that Nicolás Herrera continues to operate at the highest levels of the banking sphere, whilst Nicolás Piaggio was highlighted as “an intelligent finance lawyer.”

Clients/Work INTERNATIONAL PUBLICATIONS: The firm was involved in the USD 8 million Grinor financing trust, the first Uruguayan trust structure to finance public works in-country. The team also advised Bank of America and FleetBoston on the legal, antitrust, tax and regulatory effects of their merger as pertaining to the Uruguayan branch of FleetBoston. Other clients include: ABN AMRO; American Express; BBVA; Banco Surinvest; Citibank and HSBC.

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URUGUAY

CORPORATE / M&A

The firm: Market-leading practitioners and high volumes of work led sources to agree “this traditional firm remains at the forefront of the country’s corporate practice.” Clients perceive the team as an “authority on Uruguayan law,” and were particularly satisfied with its “outstanding corporate, M&A and regulatory advice.” Representing an impressive list of domestic clients, the team is also admired for its ability to serve the in-country needs of international corporations; for example, assisting Telefónica on the purchase of the second largest Uruguayan telecoms outfit, Movicom.

The Lawyers: Nicolás Herrera is “the leading name of the firm,” and considered to be “an outstanding lawyer” who adeptly combines “his management responsibilities with significant activity in the market.” “Great negotiator” Álvaro Tarabal has “excellent relations with clients, as well as the ability to understand extremely complex issues and to find the solutions.”

Clients/Work INTERNATIONAL PUBLICATIONS: The firm advised Aeropuertos Argentina 2000 on its structuring, following a successful bid for the licence to operate the Uruguayan international airport at Carrasco. This concession is considered by many to be the most important of the current administration. The team also represented Danone and its Uruguayan subsidiary Compañía Salus, on the spin-off of its beer business to a subsidiary of Quilmes of Argentina.Other INTERNATIONAL PUBLICATIONS include representing Grupo Industrial Lala and N M Rothschild & Sons on the purchase of Parmalat Uruguay and assisting GMO Renewable Resources, both on the purchase of forestry properties in the department of Tacuarembó and the subsequent set-up of a local management company.

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