Press Releases

Morgan & Morgan is pleased to announce the promotion of attorney Fernando Boyd to the partnership of the firm. Fernando Boyd works in the Estate Planning and Corporate Services Department. Mr. Boyd concentrates his practice in business and corporate law, estate planning, private interest foundations, and company formation and management ...

Morgan & Morgan advised Banistmo, S.A. in the structuring and registration with the Superintendency of Capital Markets of Panama of US$300,000,000 revolving corporate bonds. The bonds will be issued in different series with maturities ranging from 2 to 15 years and interest rates may be fixed or floating. Banistmo, S.A. is a wholly owned subsidiary of Bancolombia, S.A. and is one of Panama’s largest banks with more than US$9MM in assets and deposits that exceed US$6MM ...

Morgan & Morgan advised MMG Bank Corporation in the structuring of a program of revolving short-term notes for US$50,000,000 of Corporacion Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI). The short-term notes were registered with the Superintendency of Capital Markets of Panama. The issuer of the short-term notes is CIFI and MMG Bank acted as arranger and is engaged as bookrunner and paying agent of the short-term notes ...

Morgan & Morgan advised MMG Bank Corporation in the structuring of a program of revolving corporate bonds for US$100,000,000 of Corporacion Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI). The bonds were registered with the Superintendency of Capital Markets of Panama. The issuer of the bonds is CIFI and MMG Bank acted as arranger and is engaged as bookrunner and paying agent of the bonds ...

Ricardo Arias works in the Corporate Law Department of the firm. Mr. Arias holds over ten years of experience advising capital markets transactions. He has represented local and foreign lenders as well as local and foreign developer/borrowers in secured and unsecured financings and project financings. Mr. Arias has been advisor to foreign and local clients on securities placement in Panama and cross-border transactions ...

Panama, January 4, 2018. The Executive Organ approved at the end of December, a 6.5% minimum salary adjustment for large companies, which became law of the Republic of Panama and applies from January 1st, 2018 to December 31st, 2019 ...

Morgan & Morgan acted as Panamanian counsel to Grupo Eleta in the sale of a minority stake in the Pear Island Project to the Grivalia Group, a global real estate investment company. Pedro Gonzalez Island (Pearl Island) is located at Archipelago Las Perlas, Pacific Ocean. The project consists of the integrated development of approximately 1,600 hectares of the island, including an airport, several hotels, a town center, several marinas, among others amenities ...

Morgan & Morgan advised Banco General, S.A. and Banistmo, S.A. in the structuring of an issuance of corporate bonds for an amount of up to US$320,000,000 carried out by Alternegy, S.A. The bonds were issued by Alternegy, and Banco General and Banistmo acted as joint arrangers and underwriters of the bonds. The bonds were registered with the Superintendency of Capital Markets of Panama and listed on the Panama Stock Exchange ...

Morgan & Morgan acted as Panamanian legal counsel of a group of shareholders of a company dedicated to the business of distribution and sale of beverages of various brands and categories, based in Panama, in connection with the sale in different stages of 100% of the shares of the company. Partner Francisco Arias G. and senior associate Roberto Vidal, participated in this transaction ...

With legal basis in local Panama laws, Panama Ports Company, S.A. (PPC), as Purchaser, and Far East Leasing, S.A. (FEL), as trustee of the FEPC Leasing Trust, as Seller, for the benefit of an indirect affiliate of the Hong Kong and Shanghai Banking Corporation Limited, entered into an Agreement for the Purchase and Sale of the port cranes owned by said trust and leased by PPC, located within the Ports of Balboa and Cristobal of PPC ...

We are pleased to announce that Mr. Raul Bermudez, lawyer of MMG Trust, Fiduciary Unit of Morgan & Morgan Group has been elected to the Board of Directors of the British Chamber of Commerce of Panama for the 2018-19 term. The election, held on the night of last Tuesday, December 12, is one of the most important events of the British community in Panama where distinguished members of the business community meet. The new Board is comprised of: 1. John Meredith, CBE (JEM Capital) 2 ...

Morgan & Morgan advised Corporación Bella Vista de Finanzas, S.A., one of the most important finance companies of Panama, in the public offering of revolving corporate bonds for an amount of up to US$10,000,000.00 Corporación Bella Vista de Finanzas, S.A., registered a program of revolving corporate bonds in series for an amount of up to US$10,000,000.00 with the Superintendency of Capital Markets of Panama ...

Morgan & Morgan advised Multibank Inc., one of the largest and most important banks in Panama, in a public offering of revolving short term commercial paper for an amount of up to US$200,000,000.00 Multibank Inc., registered a program of revolving short term commercial paper in series for an amount of up to US$200,000,000.00 with the Superintendency of Capital Markets of Panama. Payments due to holders of such securities are unsecured and backed by the general credit of the issuer ...

Morgan & Morgan acted as Panamanian counsel to the US multinational company General Electric (GE), in connection with the worldwide sale of GE Water & Process Technologies, acquired by French company Suez and Canadian group Caisse de Dépot et Placement de Quebec. For this transaction, the firm was required to advise GE on legal matters related to the part that included a Panamanian company and the business of this corporation in Panama ...

Morgan & Morgan advised Banco Inbursa, S.A., Institucion de Banca Multiple, as buyer in the master agreement for the purchase and assignment of non-recourse credits through an evolving discount purchase facility for a value of US$ 415,000,000.00 of certain specific credit rights of Consorcio Linea 2 de Metro de Panama, comprised of FCC Construccion, S.A. as seller and assignor, and Constructora Norberto Odebrecht, S.A. as assignor. In addition, Metrotrust, S.A ...

Morgan & Morgan acted as Panamanian legal counsel to Merrill Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley & Co. LLC, with respect to a tender offer by the Republic of Panama to bondholders of 3.875% Global Bonds due March 17, 2018, up to an additional US$253,988,000 aggregate principal amount of said 3.875% Global Bonds due March 17, 2018, and the issue by the Republic of Panama of up to U.S. $1,168,292,000.00 aggregate principal amount of 4.500% Global Bonds due March 15, 2047 ...

Morgan & Morgan acted as Panamanian counsel to Thesan with respect to a US$11.5 Million Dollars Project Finance facility granted by CIFI (Corporación Interamericana para el Financiamiento de Infraestructura, S.A.) for the development and operation of a solar photovoltaic power plant “El Espinal”, with an installed capacity of 8.5MW in the Republic of Panama. The firm continues to advise Thesan in on-going legal and regulatory matters of this project ...

Morgan & Morgan acted as local counsel to Grupo CAABSA, in connection with the asset purchase acquisition of Soho Mall, by a consortium group comprised of Mexican companies, i.e. by Grupo CAABSA and Grupo Citelis. Grupo CAABSA is a Mexican business group, which is the operator of one of the main shopping centers in Mexico. Grupo Citelis, on the other hand, is an international theatre operator and owner of the reputable brand “Cinepolis” ...

Morgan & Morgan is pleased to announce the recent incorporation of partners Ricardo Aleman, Maria Teresa Mendoza and Albalira Montufar to the firm, with the purpose of maintaining the highest level of service in the areas of immigration and labor law of the firm. They each possess extensive experience advising domestic and multinational corporations, and a sophisticated approach to solving today´s complex regulatory challenges ...

Morgan & Morgan acted as counsel to DMPTY, INC., a Castillo Hermanos company, with respect to the successful closing, on June 1, 2017, of the transaction for the acquisition, from Empresa Panameña de Alimentos, S.A., of 100% of the issued and outstanding shares of Sociedad de Alimentos de Primera, S.A. (SAPRISA); owner of the Bonlac brand and line of dairy products ...

The Superintendence of Banks (SBP) of the Republic of Panama has issued a resolution by which it grants Puente Bank, S.A. an International Banking License to formally operate in the Republic of Panama. “Since the month of August, 2014, Morgan & Morgan, by request from the bank’s managements, formally started the legal and administrative processes required by SBP to obtain the license necessary to carry out the banking business in our country,” stated Dr ...

Morgan & Morgan advised Cafetales, S.A. (Cafetales) and Energía Natural, S.A. (ENESA), in a joint venture in a special purpose vehicle, Emnadesa Holding, S.A., in favour of which ENESA transferred its ownership interest in Empresa Nacional de Energía, S.A., and Cafetales transferred its ownership interest in Hidroeléctrica Bajos del Totuma, S.A. Empresa Nacional de Energía, S.A ...

On occasion of the International Women’s Day, in Panama City was held a forum on “Women leadership for business competitiveness”, with the participation of Maria Perdomo and Andrea de la Piedra, co-founders of Aequales and creators of The Gender Equality Ranking which is implemented across different organizations ...

Morgan & Morgan acted as Panamanian counsel to Mexican group IAMSA, in the sale of their shareholding stake in Colombian airline VivaColombia, by Irelandia Aviation. The firm was required to review the contracts based on Panamanian law and make the necessary corporate changes required to complete the operation. The deal involved attorneys from multiple jurisdictions such as Mexico, Ireland, Colombia and Panama ...