Legal 500

Banking & Finance

Guyer & Regulesrates highly in terms of response times, industry knowledge and quality of advice when compared to major international firms’. It acts as external counsel to more than 50% of the private banks active in Uruguay, and regularly advises foreign banks on sovereign debt issuances, debt exchanges and debt conversions by the Republic of Uruguay. The firm also has a leading project finance practice. Highlights included advising the Uruguayan branch of Citibank on a $75m credit facility to Interconexión del Sur and Uruguay’s state-owned electricity company Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE), to finance the construction of an electricity conversion plant; and advising Teyma Abengoa subsidiary Palmatir (as sponsor) on the $120m financing of a wind farm project in Tacuarembó, Uruguay. Nicolás Herrera is ‘one of the smartest individuals around; he can manage every business and non-business situation successfully, and has a wealth of experience’. Nicolás Piaggio is ‘a very experienced lawyer who can handle every type of transaction and is excellent at understanding clients’ needs’. Other recommended individuals include Juan Manuel Albacete, who ‘knows the industry well, and is extremely creative’; Corina Bove, who is ‘very experienced, extremely responsible and detail oriented’; Diego Baldomir, who is ‘very sharp and direct – a terrific lawyer who works well with clients and with others to reach practical solutions, and uses his associates and other resources prudently’; Juan Manuel Mercant (an ‘excellent lawyer’); Álvaro Tarabal; and at associate level, Florencia Castagnola and Federico Piano.

Corporate and M&AAn exceptional firm that delivers very knowledgeable and valued advice in a timely fashion’, Guyer & Regulesacts as a true strategic partner and adapts its individual and collective know-how to every situation’. In addition to capturing a significant market share of Uruguay’s M&A deals, the firm acts for a number of the country’s leading exporting companies and is also noted for its standout corporate energy law practice. The team acted for Chilean casino operator Enjoy on its purchase of a 45% stake in Caesar Entertainment’s subsidiary Baluma, which operates the Conrad resort and casino in the Uruguayan beach resort of Punta del Este; and advised Multi Ahorro on its $162m sale to Uruguayan supermarket chain Ta-Ta. Department heads Nicolás Herrera, Nicolás Piaggio and Álvaro Tarabal (‘an invaluably keen and experienced adviser’) are recommended, as are Diego Baldomir, Corina Bove, and associates Javier Berdaguer, Marcos Payssé and Federico Piano.

Dispute Resolution

 ‘An excellent firm’, Guyer & Regules’ litigation practice is ‘always ahead of problems, very proactive, and has great knowledge of the Uruguayan judicial system’. In a standout matter, it represented Cereoil Uruguay in a wheat-supply dispute concerning carrying charges and storage fees. Noted for his ‘very satisfactory response times’, Carlos Brandesknows the law and procedures perfectly and has an excellent standing among the courts’. María Eloisa Cerdeña, Mariana Santo, Federico Florin (who is singled out for his ‘proactive approach’), Macarena Fariña and Ana Paula González are key associates. Federico Cabajales has ‘excellent knowledge of dispute resolution’.

Labour and Emplyment


Guyer & Regules is known for its ‘very good industry knowledge, timely responses, and excellent teamwork in line with clients’ needs and requirements.’ The team advised Citibank on the negotiation of a collective agreement and transfer of personnel to Itaú Unibanco following its acquisition of Citibank’s retail banking business. It also acted for financial institution OCA on several union conflicts. Eduardo Ameglio is recommended, and Leonardo Slinger is ‘willing to help, professional, and has a vast amount of knowledge’. Well-regarded associates include María José Poey, and Santiago Madalena, who ‘provides fast answers and is very knowledgeable’.

Real Estate

An exceptionally reliable firm’, Guyer & Regules has an outstanding reputation for its ‘exceptional level of service and global advice, from top-level advisory assistance to low-level operational services’. Highlights for the ‘value-for-money’ team included advising Montes del Plata (the joint venture between Stora Enso and Arauco), on the $145m sale of 45,000 hectares of forestry land in the north of the country to US fund GMO; and advising Chilean entity Sodimac on its establishment in Uruguay and acquisition of two major plots for the installation of two large shopping centres. John Leaman is recommended, and Federico Susena is ‘extremely reliable and practical’. At associate level, Beatriz Spiess is ‘an excellent professional’, and María Fernanda Gonzálezcombines high-level expertise with strong levels of service’. Gustavo Di Genio is also rated.


Consistently responsive, and providing excellent business acumen, Guyer & Regules’ team stands out for its ‘strong set of hard and soft skills, and for its client-focused approach’. Highlights included advising BG Group, Total and Tullow Oil on the tax impact of its upstream activities and the development of new tax framework related to its successful bid to develop an offshore oil platform. Juan Manuel Albacete is ‘an expert in tax regulatory issues, and is good at identifying even the slightest legal risk’. Juan Bonet is a key associate.