Chambers Latin America

Banking & Finance

Flyer Chambers 2017 - Banking

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What the team is known for: Stellar banking practice with a highly respected team offering advice on the complete spectrum of banking and finance matters. Clientele includes an impressive roster of private international banks as well as trusts and financial institutions. Boasts notable strengths in public debt issuances and project bonds, and advising private pension fund managers.

Strengths: “We have a lot of confidence in the firm – they have huge experience in any kind of transaction and manage their team well, especially in complicated situations.”

“They put business common sense together with good legal advice, and they are very accessible, responsive and technically competent.”

Work highlights: Assisted Citicorp with its general business loan of USD200 million to the state-owned Banco del República Oriental del Uruguay. Acted for Carrasco International Airport on its issuance of USD200 million notes.

Notable practitioners 

Star individual Nicolás Herrera has standout capabilities in all manner of banking and finance matters, including debt structurings, M&A and project financings for both the public and private sectors. He is held in high esteem by market sources, who describe him as an “excellent lawyer with an amazing approach.”

The “experienced and professional” Nicolás Piaggio has good knowledge of complex financings and banking matters. He is recognised by clients for his understanding of regulatory issues, and has noted capabilities in capital markets, as well as being involved in sovereign debt matters and PPP financings.

Prominent figure Álvaro Tarabal draws on his long-standing experience within the banking market to advise local and international banking clients on a variety of matters. Sources appreciate his “commercial awareness and knowledge of how to deal with banks.”

Juan Manuel Mercant has profound knowledge of project financing and capital markets mandates. Clients have “a lot of confidence” in his high-end work, and they value his experience in the finance sphere. He is the key adviser to numerous financial institutions on their matters relating to Uruguay.

Up-and-coming partner Florencia Castagnola has strengths in many aspects of banking and finance, including project financing and banking M&A. She is well regarded by market sources for her practice in this field.

Senior associate Marcos Payssé focuses principally on capital markets and financings, with good knowledge of trusts in particular. Clients say of him: “He is very knowledgeable and intelligent.”


Flyer Chambers 2017 - Corporate

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What the team is known for: Market-leading practice with excellent M&A and corporate capabilities. Regularly acts for multinational corporations and has particular expertise in representing investors in transactions. Boasts considerable knowledge of the energy, telecommunications, retail and banking sectors.

Strengths: “The lawyers are the best – they are very professional, with lawyers of an international standard. They show a high level of quality and commitment to their client, and responses are both accurate and timely.”

“It is a very high-quality firm – the partners have very good knowledge and complement each other well.”

New developments: New client wins include Comviva Technologies, Oracle and SunEdison.

Work highlights: Advised Ingram Micron on its USD78 million acquisition of Brazil-based Ação Informática and its subsidiaries in Latin America.

Assisted Pérez Companc with its purchase of Gentos Uruguay via the acquisition of Gentos, based in Argentina.

Notable practitioners

Department co-head Nicolás Herrera remains a notable figure in the market. He maintains his reputation for his advice to clients on corporate, M&A and banking matters.

Sources highlight Nicolás Piaggio‘s considerable experience in the corporate/M&A market, in which he advises both national and international clients from the financial sector. Clients appreciate his “profound knowledge and expertise. They add: “He is really practical – he knows how to think outside the box and come up with a solution.”

Department co-head Álvaro Tarabal has notable expertise in international transactions. Clients deem him to be “very experienced, with a complete vision of the corporate world.” 

Clients express deep appreciation for the service provided by Corina Bove, whom they value for her “very good integral knowledge of corporate matters and capacity to understand any relevant points, as well as being clear and practical.” She receives further commendation for her responsiveness and commercial awareness.

Alejandro Miller “has great knowledge of corporate law issues.” He is particularly active on matters involving maritime trade and offshore corporations in addition to M&A.

Up-and-coming partner Javier Berdaguer has been involved in some of the firm’s largest deals, advising on both national and cross-border M&A and corporate matters.

Dispute Resolution

Flyer Chambers 2017 - Dispute (web)

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What the team is known for: Heavyweight dispute resolution practice fielding a strong team of practitioners dedicated to this field. Extensive knowledge of civil and commercial litigation, as well as international arbitration. Often instructed by international financial institutions, and has notable experience with corporations in such sectors as chemicals, oil and gas, construction and telecommunications.

Strengths: “Guyer & Regules’ lawyers are excellent – they are very proactive and find solutions, which have led to good results.”

“Their advice and industrial know-how is very good, as well as their availability and the way they treat our case almost like a personal matter.”

New developments: New client wins include Kepler Weber Industrial, Eletrobras and UTE.

Work highlights: Represented GNLS in a USD100 million dispute against Gas Sayago relating to a contract for the development and construction of a regasification terminal.

Assisted Codere México with a judicial procedure initiated by Sikeston, concerning an alleged violation of a shareholder agreement.

Notable practitioners

Department head Carlos Brandes is lauded by clients as an “outstanding litigator,” who also “knows arbitration procedures well and advises us very clearly.” His wide-ranging strengths encompass banking disputes, commercial arbitration and civil fraud litigation.

Associate-to-watch María Eloísa Cerdeña is praised for the quality of her case preparation by market sources. She is well versed in a variety of litigation matters, including a strong practice in advising local and international financial clients on contentious cases.

Associate-to-watch Federico Florín is recognised by market commentators for his practice in this field. He has notable experience in many kinds of civil and commercial litigation, arbitration and settlements.

Associate-to-watch Mariana Santo has strength in bidding processes and negotiations, particularly in disputes concerning the state and government entities. Sources praise her for her knowledge of administrative law and energy matters, and appreciate her as a “good young lawyer who works very hard.”

Energy & Natural Resources

Flyer Chambers 2017 - Energy (web)

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What the team is known for: Dynamic team of experienced practitioners highly sought after to advise on the full range of energy and natural resources matters. Holds a considerable market share of renewable and oil and gas transactions, with prominence in solar, biomass and wind energy matters. Has notable expertise in project financing, winning regular instructions from major international developers and corporations.

Strengths: “The lawyers at Guyer & Regules are highly professional and very committed to the work, and I would say that in all of Latin America they are one of the best firms.

“The team has worked well with us across the whole period – they have demonstrated knowledge, dedication and responsiveness.”

Work highlights: Instructed by BG Group to assist with its merger with Shell, and in the exploration of offshore oil and gas reserves.

Notable practitioners

Department co-head Juan Manuel Mercant is an increasingly well-known figure in the energy market, with clients asserting that “he has been outstanding in helping us. He is very proactive and anticipates any issues that may arise.”

Practice co-head Federico Susena is deeply respected by market sources, in particular for his oil and gas work. His energy expertise is aided by supplementary strength in related real estate matters. Clients praise him for being “extremely helpful,” adding: “He has shown willingness to listen and taken a pragmatic approach when necessary.”

Labour & Employment

Flyer Chambers 2017 - Labour (web)

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What the team is known for: Top-tier labour and employment team advising on many high-profile matters in the country for a notable roster of clients. Particularly active in employment-related litigation, audits and social security. Also represents clients in negotiations with unions. Often acts for clients in the financial sector as well as hospitality and energy.

Strengths: “The lawyers are always available and we have trust in everything they do.”

“The lawyers are all specialists, are very good and we have great confidence in their service.”

New developments: New client wins include Hilton, San Roque and Solarpack.

Work highlights: Represented GNLS in negotiations with the Construction Employees Union regarding the closure of works in the liquified natural gas regasification terminal GNL del Plata.

Represented Porto Seguro in a lawsuit brought against the group by the former CEO and legal counsel of one of their companies regarding harassment in the workplace.


Notable practitioners

Department co-head Eduardo Ameglio has considerable experience representing clients in collective negotiations, disputes and social security matters. Sources express appreciation for his responsiveness and empathy.

Department co-head Leonardo Slinger is well versed in handling matters relating to company reorganisations, union negotiations and disputes. Clients single him out for his “great experience.” He receives further praise for his knowledge of the market and availability.

Clients consider associate-to-watch Santiago Madalena to be a “great strategist.” He has experience of collective negotiations, litigations and union conflicts.

María José Poey represents international and domestic clients in complex litigation, negotiations and day-to-day employment matters relating to establishing offices in Uruguay.

Real Estate

Flyer Chambers 2017 - Real Estate (web)

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What the team is known for: Highly acclaimed full-service firm with a deeply respected real estate practice fielding a strong bench of dedicated practitioners. Well regarded for its agribusiness and forestry expertise, alongside extensive knowledge of tourism and residential projects, and mortgage and securities matters. Regularly retained to provide counsel to a broad range of international clients.

Strengths: “The lawyers at Guyer & Regules are very dynamic, technically impeccable and totally available for any problems – we have total satisfaction.”

“They are fantastic – the service is excellent and very professional, and they have a solution for any issue.”

Work highlights:  Acted for Fideicomiso Financiero Montes del Este on the formation of a real estate fund for the acquisition of rural land for forestry uses worth USD56.5 million.

Notable practitioners

Department co-head John Stuart Leaman is highly respected by market commentators, who recognise him as a widely active player in the real estate field. He has long-standing experience of advising on forestry and agriculture matters, as well as international investment into the property market.

Department co-head Federico Susena stands out to observers for his market-leading work involving real estate funds and agribusiness issues. He receives high praise from clients, who say: “He is very professional and available,” and also value his attention to detail and understanding of foreign markets and regulations.

Senior associate Beatriz Spiess is widely recognised by interviewees, who comment: “She is very good, and always available to answer any doubts we have.” She has experience in a broad variety of property matters, notably including financial issues.

Newly ranked associate-to-watch Carolina Suárez is well known within the market for her real estate knowledge, and receives recognition from clients for her reliability and professionalism.


Flyer Chambers 2017 - Tax (web)

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What the team is known for: Prestigious practice group at the forefront of the market with a respected bench of practitioners covering all aspects of tax law. Considerable strength in tax planning, audits and compliance for both domestic and international clientele, including the Uruguayan government, as well as banking institutions and multinational corporations.

Strengths: “I have the best impression of the team at Guyer & Regules – their work is efficient, they reply quickly and deliver high-quality responses.”

“We have a very good opinion of the firm – they are accessible and give us a personalised and efficient service.”

New developments: New client wins include Don Mario Semillas (GDM Seeds) and Uber.

Work highlights: Assisted Total and Tullow Oil in the formation of a tax structure for the competitive bidding process relating to the Ronda Uruguay II oil search.

Assisted Citibank with tax matters relating to a USD200 million loan to the Bank of the Oriental Republic of Uruguay.

Notable practitioners

Department head Juan Manuel Albacete has significant experience handling the full range of tax matters, including regularly advising the government and major international banks. He is well regarded by commentators in the market, and clients praise him for his “experience, accessibility, knowledge and efficiency.”

The “excellent” associate Juan Bonet focuses his practice on tax and banking matters including tax planning and litigation. Clients appreciate that he is “very studious and well informed.”