What are the most significant cases or transactions that your legal team has recently been involved in?

Since 2021, Altán has been undergoing a concurso mercantil (a Chapter 11-like bankruptcy process under Mexican law). Although we successfully executed a Bankruptcy Agreement in October 2022, we still had to manage the expectations of creditors, contractors, and suppliers during its implementation, as the company continued network deployment and telecom services for our clients.

This included securing an additional USD $100M loan as part of the Bankruptcy Agreement. Throughout 2023, I worked closely with the General Counsel and CFO as the lead within the legal team, overseeing the review of all legal documents required for the financing. This task was challenging due to the need for coordination across several departments and stakeholders in highly sensitive and low-leverage conditions. The transaction involved everything from due diligence to drafting complex financial terms for the loan documents. My team supervised external counsel and coordinated key issue discussions with economists, engineers, accountants, and other specialists at Altán Redes, ensuring a smooth collaboration. The loan agreements also triggered a corporate restructuring, including the exit of original shareholders, the establishment of a new trust to guarantee loan repayment, and the temporary granting of voting rights to certain creditors. We also had to amend the original project trust and obtain waivers and regulatory approvals in antitrust and telecom matters.

Additionally, my team played a crucial role in mitigating risks with key suppliers and contractors by renegotiating transmission contracts (microwave, satellite, fibre optics) with stricter terms, including penalties and service level agreements. We also amicably terminated engineering, procurement, and construction agreements with Huawei and Nokia, reducing operational and financial burdens and improving efficiency in procurement and contract management.

In conclusion, as Senior Legal Counsel, I’ve led my team to collaborate effectively across departments, taking leadership roles in key projects and demonstrating the maturity, skills, and resourcefulness necessary to manage interdisciplinary relationships within Altán’s corporate structure and with key stakeholders.

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?    

The pandemic offered several insights into how a modern legal department should operate. During my tenure as Senior Legal Counsel, I have taken steps to enhance efficiency, streamline our workload, and manage legal documents more effectively.

Recognising the dynamic nature of legal work and the increasing demand for efficiency, we have integrated various LegalTech solutions into our operations. For example, I was responsible for implementing initiatives such as acquiring licenses for eSignature services. These platforms have successfully reduced our carbon footprint and saved space in our legal document storage. Additionally, we contracted an external supplier to help organise, digitise, categorise, and manage our physical cabinet files, making them available online to all members of the Legal department.

Another key innovation has been the creation and use of standardised contract templates. These templates ensure consistency, reduce drafting time, and minimise the risk of omissions or errors. By maintaining a repository of pre-approved templates, we can respond swiftly to contract requests, uphold high-quality standards, and ensure compliance with legal and regulatory requirements.

Lastly, we have optimised the use of Excel spreadsheets for managing our workload, tracking legal documents and contracts, and following up on corporate governance matters. These custom-designed spreadsheets allow us to monitor the status of ongoing projects, deadlines, and resource allocation efficiently. They are tailored to our specific needs, providing real-time data and insights that help us make informed decisions and prioritise tasks effectively.

What is a cause, business related or otherwise, that you care about, and why?  

While working at Altan, I understood how both private and public efforts must be channelled towards digital inclusion for vulnerable populations in Mexico. Digital inclusion is not an end in itself but a means to achieve other desirable outcomes for the country. One such outcome, which I find profoundly interesting, is the adoption of fintech to promote financial inclusion among this population.

The fintech sector in Mexico is experiencing rapid growth, playing a vital role in advancing financial inclusion and innovation, making it the fintech hub of Latin America. With a significant portion of the population still unbanked, fintech solutions are bridging the gap by providing accessible and affordable financial services. This not only empowers individuals but also supports small and medium-sized enterprises (SMEs) in accessing credit, managing finances, and expanding their businesses. Furthermore, by leveraging advanced technologies such as blockchain, artificial intelligence, and digital payments, fintech companies are enhancing transparency, security, and efficiency in financial transactions.

To make this inclusion a reality, I believe that liberty and the rule of law in Mexico are paramount. These principles are not only vital for a functioning democracy but also for fostering an environment where financial services can reach every segment of society. The liberty of individuals to pursue their economic interests is a cornerstone of financial inclusion. When individuals are free to engage in economic activities without undue restrictions, they can explore opportunities to improve their financial well-being. This empowerment is essential for fostering entrepreneurship, which in turn drives economic growth and job creation.

In a society where liberty is respected through the rule of law, innovative financial solutions can flourish. Fintech companies, for instance, thrive in an environment that encourages creativity and competition, leading to a competitive financial ecosystem that drives down costs and improves service quality. The rule of law is fundamental for creating a stable and predictable environment where financial inclusion can be achieved, supported by regulatory frameworks, clearly defined property rights, contract enforcement, and anti-corruption measures.

In the current landscape, where Mexico may greatly benefit from nearshoring, I believe we have immense opportunities to thrive if we achieve financial inclusion through fintech, underpinned by liberty and the rule of law in a nurturing and virtuous cycle.