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Morgan & Morgan | September 2022
Panama

Morgan & Morgan Legal represented MMG Bank Corporation (“MMG Bank”), as lender, in a financing to be granted in favor of Daconan Star Solar, S.A. (“Daconan”), to be used for expansion, by 2.64 additional megawatts of the capacity of a photovoltaic project called “Daconan Solar”, with an installed capacity of 3.24 megawatts, located in the Province of Veraguas ...

Morgan & Morgan | August 2022
Panama

Morgan & Morgan Legal advised MERCANTIL SERVICIOS FINANCIEROS INTERNACIONAL, S.A. (the “Issuer”), the holding company of Mercantil Group and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the issuance of Class “A” and Class “B” Common Shares for a total of US$30,000,000.00 (the “Common Shares”), which were successfully placed ...

Morgan & Morgan | August 2022
Panama

Morgan & Morgan Legal advised Mercantil Holding Financiero Internacional, S.A. (the “Issuer”), an affiliate of Grupo Mercantil and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the registration of corporate bonds for an aggregate of US$100,000,000 with the Superintendency of Capital Markets of Panama in order for the Issuer to publicly offer the bonds in series ...

Morgan & Morgan | July 2022
Panama

Morgan & Morgan Legal advised Supermercados Xtra, S.A., one of the leading supermarket chains in Panama (the “Issuer”), and its shareholders in the registration of its 12,500,000 common shares (the “Common Shares”) with the Superintendency of Capital Markets of Panama for their negotiation in a secondary market transaction through the Latinamerican Stock Exchange ("Latinex”) ...

Morgan & Morgan | July 2022
Panama

Morgan & Morgan Legal is pleased to announce the recent incorporation of Mr. Jose Rafael Reyes as partner and head of the Taxation practice group of the firm. Mr. Reyes has over ten years of experience handling complex legal and tax matters. He regularly advises clients from multiple industries in connection with international taxation, tax planning, transfer pricing, regulatory compliance, proceedings before local tax authorities, and representation before the Administrative Tax Court ...

Morgan & Morgan | June 2022
Panama

Panama, June 30, 2022. Morgan & Morgan Legal advised Mercantil Holding Financiero Internacional, S.A. (MHFI), a subsidiary of Grupo Mercantil, in relation to the execution of the Promissory Share Purchase Agreement (the “SPA”) dated June 29, 2022, by and among the shareholders of Capital Bank, Inc ...

Morgan & Morgan | May 2022
Panama

Morgan & Morgan Legal advised Orla Mining Ltd., as borrower and Minera Cerro Quema, S.A., as guarantor with respect to a secured credit facility of US$150 million (the “Credit Facility”). The Credit Facility includes a US$100 million term facility and a US$50 million revolving facility through a syndicate of lenders composed of The Bank of Nova Scotia, Bank of Montreal, and Canadian Imperial Bank of Commerce ...

Morgan & Morgan | April 2022
Panama

Morgan & Morgan Legal acted as Panamanian counsel to Farmalisto in the purchase of 100% of the Mexican pharmacy GoFarma. With this acquisition, the company advances its expansion process in the Mexican market and Latin America. Currently, Farmalisto has a presence in Colombia, Chile, Peru, and Mexico. In this country, it arrived in 2014, where it has established itself as one of the most important players in the pharmaceutical market ...

Morgan & Morgan | April 2022
Panama

Morgan & Morgan Legal advised Banco General, S.A., and Banistmo, S.A., as arrangers and underwriters in connection with the public offering and issuance by Fountain Hydro Power Corp. of corporate bonds for an amount of up to US$110 million registered with the Superintendency of Capital Markets of Panama and successfully placed through the Latin American Stock Exchange ...

Morgan & Morgan | February 2022
Panama

For the ninth year in a row, Morgan & Morgan has received the “Leading Lights” recognition in Latin America for the firm´s Pro Bono program. In Panama, only Morgan & Morgan achieved this status, sharing honors with other leading firms across the region. This distinction is granted annually by Latin Lawyer, who, together with the Cyrus R. Vance Center for International Justice, investigates the institutionalization of the practice within the firms and the participation of their legal team ...

Morgan & Morgan | January 2022
Panama

Morgan & Morgan Legal advised Supermercados Xtra, S.A., one of the leading supermarket chains in Panama (the “Issuer”), in the amendment to certain terms and conditions of the Issuer’s US$250,000,000 public bond issuance registered with the Superintendency of Capital Markets of Panama in order for the Issuer to offer and issue three (3) series of bonds for an aggregate of US$100,000,000, which were successfully placed through the Latin American Stock Exchange ...

Morgan & Morgan | December 2021
Panama

Morgan & Morgan Legal is pleased to announce the recent promotion of attorney Mayte Sanchez Gonzalez as partner of the firm. This designation reinforces the firm´s notable practice in litigation and dispute resolution processes (including arbitration), and at the same time, reinforces its commitment to gender equality and equal opportunities in the workplace. In recent years, Ms ...

Morgan & Morgan | December 2021
Panama

Morgan & Morgan is pleased to announce the recent promotion of attorney Fanny Evans as partner of the Fiduciary Services Unit. This designation reinforces the firm´s notable practice in estate planning and corporate services matters. Fanny specializes in business and corporate law, estate planning and company formation and management. She also has a leading role as the Vice-President of Operations of the Caribbean region ...

Morgan & Morgan | December 2021
Panama

Morgan & Morgan Legal acted as Panamanian counsel to Avianca Holdings, S.A. (“Avianca”) and its subsidiaries, in connection with its financial and corporate restructuring process, implemented to emerge from Chapter 11 proceedings in the United States of America, after having filed for bankruptcy protection in U.S. Courts back in May 2020. Avianca’s emergence from Chapter 11 involved the offering of Senior Note Indentures which resulted in over US$1,700,000,000 ...

Morgan & Morgan | October 2021
Panama

Morgan & Morgan Legal acted as special Panamanian counsel to Global Climate Partnership Fund S.A., SICAV-SIF (GCPF) in connection with an unsecured facility agreement, dated as of September 24, 2021, by and among Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI), as borrower, CIFI LATAM, S.A. and CIFI PANAMÁ, S.A., as co-obligors (the “Co-obligors” and together with CIFI, the “Obligors”), and GCPF, as lender ...

Morgan & Morgan | October 2021
Panama

Morgan & Morgan Legal acted as counsel to Cirsa Enterprises S.L.U. in connection with the offering of €615,000,000 aggregate principal amount of 4.500% Secured Notes due 2027, issued by Cirsa Finance International S.à.r.l., and to be guaranteed by the Cirsa Enterprises S.L.U. and, among others, Gaming & Services de Panama, S.A ...

Morgan & Morgan | October 2021
Panama

Morgan & Morgan Legal represented Seven Seas Water (“Seven Seas”) and a group of its subsidiaries, in a US$203,000,000.00 financing with Deutsche Bank AG and Investec Bank, PLC, as lenders, which would be used to refinance a credit facility obtained by Seven Seas in June 2020, for US$163,000,000.00. Seven Seas is a portfolio of desalination and water supply projects in Latin America and the Caribbean, managed by Morgan Stanley Infrastructure Partners ...

Morgan & Morgan | September 2021
Panama

Morgan & Morgan is pleased to announce that our firm has been shortlisted in the Chambers Latin American Awards 2021 as “Panama Law Firm of the Year,” one of the most renowned recognition in the legal profession. Morgan & Morgan is one of the five Panamanian Law firms granted this important distinction, sharing the honor with highly recognized firms in Latin America. The complete list can be found in the Chambers & Partners website ...

Morgan & Morgan | September 2021
Panama

Morgan & Morgan Legal advised the shareholders of the companies Galores Refrigerados S.A., Galores Logística S.A., and Avner Perry Investments, S.A. (the “Galores Group”), in connection with the sale of Galores Group to Emergent Cold Latin America (“Emergent LatAm”), Latin America’s newest temperature-controlled warehousing and logistics provider. Galores Group is the largest 3PL cold storage facility in Central America and the Caribbean ...

Morgan & Morgan | September 2021
Panama

Morgan & Morgan Legal acted as Panamanian counsel to Banistmo S.A. in its role as agent of the three facility agreements. Additionally, Morgan & Morgan Legal acted as Panamanian counsel to Banistmo S.A., in its role as administrative agent of the Purchase Agreement of “Certificados de No Objeción”. Transactions related to the purchase and sale of “Certificados de No Objeción” issued by Metro de Panamá, S.A ...

Morgan & Morgan | September 2021
Panama

Morgan & Morgan Legal acted as Panamanian counsel to Mercandú, a startup based in El Salvador, in designing the corporate structure and Seed investment round of US$1,500,000.00 with which it launched its e-commerce website and mobile app that operate a regional digital marketplace offering door to door delivery of over 150,000 products such as: Technology, Home, Vitamins, Makeup, Pets, among others ...

Morgan & Morgan | September 2021
Panama

Morgan & Morgan Legal acted as Panamanian counsel to Avianca Holdings, S.A., as Debtor; and certain of its subsidiaries, as Guarantors, in connection with a DIP-to-exit facility used to repay Tranche A of US$ approximately 1,430,000,000.00, under a certain debtor-in-possession agreement executed on October, 2020, and its replacement with a new Tranche A-1 for US$ 1,050,000,000.00 and Tranche A-2 for US$ 550,000,000 ...

Morgan & Morgan | September 2021
Panama

Morgan & Morgan has achieved the highest number of rankings for Panama in Chambers Latin America Guide 2022, the key reference point of Latin American top law firms. The directory has assigned the firm twenty rankings in seven practice areas, the highest number for a Panamanian law firm. This year, the recommended legal team is comprised by: • Simon Tejeira Q.: Dispute Resolution. • Juan David Morgan Jr.: Shipping (Litigation). • Francisco Arias G ...

Morgan & Morgan | August 2021
Panama

Panama, August 16, 2021. International Financial Law Review (IFLR1000) released Panama’s rankings on Project Development, Banking and Finance, and Capital Markets (Debt and Equity), representing IFLR1000’s 31st edition (2021/22). Morgan & Morgan once again has been ranked as a Top Tier law firm in the three categories. Congratulations to our Corporate Law Team for this recognition which demonstrated Morgan & Morgan’s comprehensive strength in providing outstanding legal services ...

Morgan & Morgan | July 2021
Panama

Morgan & Morgan is pleased to announce the recent hiring of Mr. Alejandro E. Chevalier, as associate in the Litigation and Dispute Resolution team of the firm. Prior to joining Morgan & Morgan, Mr. Chevalier worked as an International Attorney in the International Department of Akerman LLP (Miami, Florida). He also interned with the International Arbitration Department of Hogan Lovells US LLP (Miami, Florida). During this time, Mr ...

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