Galindo, Arias & López

Galindo, Arias & López is a Panamanian full-service law firm with a 50- year tradition of excellence and a commitment to providing legal services of the highest quality and ethical standards. The firm has built long-term relationships with a high-profile, local and international client base, with business interests in Panama and abroad. GALA stands out due to its expertise in complex regulatory issues, local and cross-border transactions, complex asset and project financing transactions from highly regulated industries, and a stellar dispute resolution track record, servicing clients throughout Panama’s key business sectors: aviation, energy, telecommunications, banking, finance, infrastructure, real estate, transportation and logistics, tourism, and commerce.

Main areas of practice
Banking, insurance and capital markets: The firm has a long and impressive trajectory in the Panamanian market and boasts one of Panama’s largest banking and finance teams. The team focuses on project finance, financial services regulatory advice, day-to-day advice to full licensed banks and financial institutions. GALA’s expertise also includes high-end financing for precedent-setting energy and natural resources projects, as well as advice on growing areas such as aviation finance. GALA’s robust capital market practice handles a diversified portfolio of domestic, regional, and international clients mostly from highly regulated industries, on complex and innovative security offerings and regulatory compliance.

Corporate mergers and acquisitions: GALA advises on domestic and cross-border mergers, acquisitions, joint ventures, strategic alliances, and reorganizations. The firm has been involved in many of the region’s most significant M&A transactions, including the acquisition of Cable Onda, S.A. by Millicom International Cellular, S.A., Panavicola, S.A. by Corporación Multi Inversiones (CMI), the acquisition of Grupo Machetazo by Grupo Mays, the strategic alliance between Copa Airlines and United Airlines, and the sale by Goldwind International Penonome, S.a.r.l. of its equity interest in the first wind farm in Panama.

Litigation and dispute resolution: The firm has a long-standing and highly accomplished litigation practice. GALA’s litigation attorneys have successfully argued on behalf of clients in a broad range of industries, including energy sector leaders Petroterminal de Panamá and Naturgy Panama. Most recent achievements include advising the Panama Canal Authority (ACP)’s international legal team on issues of Panamanian law in the ACP’s recent arbitration victory over the contractor responsible for the Panama Canal Expansion Project.

Project and asset finance: GALA has offered legal counsel on innovative finance structures for the acquisition of assets and the development of some of the largest projects in Panamanian history. Among the most notable transactions are advising the (1) Panama Canal Authority’s international team on the financing of the US$5.25bn Panama Canal Expansion Project, (2) developers and financial institutions in financing energy projects of multiple technologies, including hydro, thermal, and natural gas generation, the first wind, and solar farms in the Republic of Panama, and the (3) construction, redeployment, and expansion of the trans-isthmian pipeline.

Real estate: The practice focuses on complex real estate development projects, zoning and condominium (horizontal property regime) incorporation, and other regulatory matters. The team is actively involved in advising the developer of the 1,400-hectare project known as Ciudad Costa Verde in all legal matters, including regulatory, transactional, and tax matters.

Tax (local and international): The firm advises clients on the tax implications arising from cross-border transactions and structuring, guiding them on the best way to manage available tax incentives and regimes, including the application of double tax conventions. GALA also represents its clients before the Tax Administration and the Administrative Tax Court in complex litigation cases, including transfer pricing and cross-border investment.

The firm complements its portfolio with experienced legal professionals in practice areas such as aviation, data protection and security, intellectual property, government contracts and public procurement, labor and immigration, and regulatory. All services are delivered in compliance with GALA’s core values: excellence, integrity, respect, loyalty, empathy, confidentiality.

Highlighted industries of expertise
Aviation: GALA provides expert counsel to clients in the aviation industry, focusing on aircraft acquisition, finance and leasing, corporate, regulatory, and dispute resolution. Recent transactions include advising Copa Airlines on the US$2.6bn order placed for the acquisition of 32 Boeing 737-800 Next-Generation aircraft, the acquisition of the first 13 Boeing 737-MAX 9 aircraft, delivered between 2018 and 2021, part of the US$6.6bn order of 61 737-MAX and the sale of 14 EMB 190 aircraft, spare engines, and spare parts to Alliance.

Energy: With experienced lawyers in the heavily regulated industry, GALA advises an international clientele on the full range of energy-related matters. The team comprises lawyers within M&A, regulatory, project financing, and dispute resolution practice groups, safeguarding clients’ interests in every possible way. Working in the development of the largest solar, wind, and hydroelectric projects settled in Panama and the region, and counseling two of the three energy-distribution companies in the country has made Galindo, Arias & López the go-to firm in the industry.

Clients: Academia Latinoamericana de Aviación Superior S.A.; Altra Investments; América Móvil; ASSA Compañía de Seguros, S.A; Banco Ficohsa; BAC International Bank, Inc., Banco General SA; Banco Industrial, SA; Banco Santander Central Hispano, SA (NY Branch); Beaumont & Son Aviation at Clyde & Co.; Cable Onda, S.A.; Cargolux Airlines; Casa Comfort, S.A.; Citibank International PLC; Clínica Hospital San Fernando, SA; Condon & Forsyth LLP; Copa Airlines; Copa Holdings, S.A.; Credomatic de Panamá, SA; Deloitte; Emirates; El Machetazo, S.A.; GBM de Panamá, SA; Goldwind Americas; Grupo Pellas; Grupo Mays; Hospital Punta Pacífica; Hoteles Decameron; Grupo REY; International Finance Corporation (IFC); Los Castillos Real Estate, Inc.; Mayer Brown; MED Centroamérica, SA; Mercantil Banco, S.A; Mercantil Servicios de Inversión, S.A.; Metrobank, SA; Millicom International Cellular, S.A.; Mitsubishi UFJ Financial Group; Motta International, S.A.; MTU Maintenance Hannover GmbH; Naturgy Panama; Panama Air Cargo Termminal Inc.; Panama Canal Authority; Petroterminal de Panamá, S.A.; Sherman & Sterling LLP; Sony BMG Music Entertainment; Uber, B.V.