Chambers Latin America

Banking & Finance


The Firm: Guyer & Regules is lauded by financial institutions as “one of the best legal outfits in Latin America, providing a quality of work similar to the biggest Brazilian firms.” The banking team advises some of the sector’s major players. It represents Citibank in its day-to-day financial work, and recently advised the client on its USD240 million purchase of USD, EUR and UI-denominated bonds. Clients value the practice’s excellent contacts within the financial world: “It has useful, key contacts in New York, Brazil and Argentina and has a great working relationship with the regulators.” The group also wins praise for its up-to-date knowledge of the sector: “It has a fabulous understanding of everything that is happening in banking.” Involved in both financial and corporate transactions, senior partner Nicolas Herrera is a much-admired figure with excellent experience in the banking area. “He is a must if you want to do business in Uruguay,” major banking clients agree. Nicolás Piaggio is singled out for his “highly proficient approach and brilliant, client-oriented service” in financial deals. His expertise spans banking and capital markets work and he has an impressive track record advising on bond transactions; he is also recommended for corporate matters. Formerly in-house counsel at BankBoston, Álvaro Tarabal focuses on corporate work. He maintains “first-class relationships” with his banking clients and is also esteemed as an excellent point of contact for financing transactions. Newly promoted partner Diego Baldomir is recognised for his advice on banking matters. A rising star at the firm, he has built up a good reputation acting for Banco Itaú. Associate Juan Manuel Mercant is appreciated by clients for his proficiency in banking and finance deals. With such a wide range of experts and an established presence in the sector, Guyer & Regules is “one of the most traditional, sought-after firms in the Uruguayan banking market,” interviewees agree.

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The Firm: This is lauded as “one of the best legal firms in Uruguay – even in Latin America.” Guyer & Regules’ clients are consistently impressed by the quality of the team’s work, with one client stating: “It is better on M&A matters than any other adviser we’ve worked with in any other Latin American country.” One of the team’s greatest assets is its responsiveness, and it is noted for its capacity to perform to an extremely high standard on complicated deals, while under extreme pressure. The group is also praised for being able to bring a cross-departmental service to clients, which they view as fundamental on complex deals such as the recent acquisition of McDonald’s Uruguayan restaurants and related assets by SAGE. Clients consider Nicolás Herrera “the go-to guy if you intend to do business in this country.” As well as being a recognised force in the banking sector, this “amazing lawyer” also offers an integrated service on corporate and M&A work. Álvaro Tarabal can demonstrate significant skills in banking matters, although his primary focus remains corporate and M&A cases. “He brings timely and accurate advice that is adapted to the demands of US clients,” say sources. Particularly recognised for his impressive work in the banking and capital markets arena, Nicolás Piaggio also offers significant corporate skills. According to clients, young associate Valentina Larrobla is a name to watch, and she is praised for her “perceptive and skilful advice” on corporate and commercial cases. The whole team recently acted for Brazilian company Marfrig in its USD225 million acquisition of Quickfood’s abattoirs in Uruguay and Argentina, and also assisted the Eurnekian group with its USD35 million acquisition of Consorcio Aeropuertos Internacionales.

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Dispute Resolution


The Firm: This “extremely reliable firm” provides advice that is “adapted to the demands of US clients,” and the team provides “a sharp analysis of litigation cases” and “tremendous service.” The outfit works for an international clientele and is mainly active in the banking and finance arena as well as the civil, commercial and labour sectors. Representative of the firm’s work is its support to Citibank, FOFIP and Citicorp Administradora de Fondos de Inversión on a USD2.7 million complaint brought by Pigusa. The widely renowned Carlos Brandes is “an incredibly clever practitioner” who possesses “very impressive litigation capabilities.” He advised Dow AgroSciences Argentina on a USD1.1 million contract lawsuit brought by Fadisol. Providing “consistently excellent work,” Álvaro Tarabal has lately been instructed by BankBoston to defend the Central Bank of Uruguay on an arbitration procedure against the Central Bank of Brazil.

Labour & Employment


The Firm: This is “one of the strongest and most experienced firms” in Uruguay and is enjoying a highly visible practice in the field. “Adroit negotiators” on collective conflict cases, the lawyers benefit from extensive knowledge of the employment domain and trade union matters. The firm’s role during the Council of Wages’ proposal of a mandatory minimum salary for the entire Uruguayan workforce exemplifies its work. Years of experience in the employment sector have made Leonardo Slinger one of the country’s main labour lawyers. Advising many financial institutions, he has experience with stakeholders, unions and regulators, and “maintains great relations with his clientele.” Eduardo Ameglio is also a notable practitioner and recognized figure on the Uruguayan market; he “always achieves great results.”


The Firm: This firm is “undoubtedly one of the best choices for all tax matters.” The highly client-oriented team “works incredibly hard to deliver a high-quality service on any tax matter,” cementing its place in the market. The group has also experienced “exponential growth” in the fiscal area during the last few years. The team supported Citibank on the tax aspects of its USD86 million loan to the UTE and advised Distribuidora de Gas de Montevideo on the Gaseba tax due diligence. Juan Manuel Albacete is an “excellent tax professional” with a widely renowned practice. With “strong academic capabilities,” he is an “outstanding lawyer” and a top choice for Uruguayan tax matters.

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