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Español Morgan & Morgan carries out pro bono work in La Arenosa
As part of our CSR strategy, on Saturday August 10th, 2013, a team of lawyers and volunteers from Morgan & Morgan participated in a Legal Orientation Day held in collaboration with Club Kiwanis Las Perlas, at La Arenosa in Chorrera, province of Panama. More than 21 people received free legal assistance and participated in a workshop covering topics related to domestic violence and healthy relationships, emphasizing the importance of equal opportunities for men and women.
The aim of these Legal Open Houses is to promote access to justice and gender equality in the country’s most vulnerable populations.
Attorneys Adolfo Campos, Ana Carolina Castillo, Christian Bonilla, Eduardo Gonzalez, as well as volunteers Marissa Chandeck, Johane Carrion and Andres Mejia, made up the group that provided services for this initiative.
By participating in this activities, Morgan & Morgan reaffirms its commitment to the Pro Bono Declaration of the Americas being the first Panamanian firm signatory of this initiative.
Como parte de nuestra estrategia de RSE, el pasado sábado 10 de agosto, un equipo de abogados y voluntarios de Morgan & Morgan participaron en una Jornada de Orientación Legal organizada en colaboración con el Club Kiwanis Las Perlas, en la comunidad de La Arenosa, en el distrito de La Chorrera. Más de 21 personas recibieron asistencia legal gratuita y participaron de un taller en donde se tratan temas relacionados a la violencia doméstica y promoción de relaciones sanas, haciendo énfasis en la importancia de la igualdad de oportunidades entre hombres y mujeres.
El objetivo de estas jornadas es promover el acceso a la justicia y la equidad de género en las poblaciones más vulnerables del país. El grupo que prestó sus servicios durante esta jornada estuvo conformado por los abogados Adolfo Campos, Ana Carolina Castillo, Christian Bonilla, Eduardo González; y los voluntarios Marissa Chandeck, Johane Carrión y Andrés Mejía.
Con su participación en estas jornadas, Morgan & Morgan reafirma su compromiso con la Declaración Pro Bono de las Américas al ser la primera firma panameña signataria de esta iniciativa.
- Published in Adolfo Campos, Ana Castillo, Eduardo Gonzalez, News, Probono
Morgan & Morgan advised The AES Corporation in the issuance and sale of US$310 million Senior Guaranteed Notes
Morgan & Morgan advised AES El Salvador, S.A. de C.V., Compañía de Alumbrado Eléctrico de San Salvador, S.A. de C.V., Empresa Eléctrica de Oriente, S.A. de C.V., AES-Clesa y Compañía, S. en C. de C.V. and Distribuidora Eléctrica de Usulután, S.A. de C.V. – all affiliates of THE AES CORPORATION – in the issuance and sale of US$310,000,000 in Senior Guaranteed Notes due March 28, 2023 bearing interest at the annual rate of 6.75% by MMG Trust (Panama), S.A., a Panamanian corporation, acting not in its individual capacity but solely in its capacity as trustee of the AES El Salvador Trust II, a trust formed under Panamanian Law. The Notes were issued under Rule 144A and registered before the Irish Stock Exchange. The transaction closed successfully on March 28, 2013 and was the second such issuance by AES affiliates in El Salvador.
All of the AES affiliates in this transaction were represented by the Morgan and Morgan team comprised by partners Inocencio Galindo and Ramón Varela, as well as associates Roberto Vidal and Carlos Hoyos.
MMG Trust (Panama), S.A., was represented by partner Eduardo Gonzalez.
Morgan & Morgan actuó como asesor legal de AES El Salvador, S.A. de C.V., Compañía de Alumbrado Eléctrico de San Salvador, S.A. de C.V., Empresa Eléctrica de Oriente, S.A. de C.V., AES-Clesa y Compañía, S. en C. de C.V. y Distribuidora Eléctrica de Usulután, S.A. de C.V. – todas afiliadas de THE AES CORPORATION – en la emisión y venta de títulos de deuda por US$ 310,000,000 con interés anual del 6.75%, y vencimiento el 28 de marzo de 2023. Los títulos fueron emitidos por MMG Trust (Panamá), S.A., una sociedad panameña, actuando no es su capacidad individual, sino únicamente en su capacidad como fiduciario del fideicomiso AES El Salvador Trust II, fideicomiso conformado bajo las leyes panameñas. La emisión se llevó a cabo bajo la Regla 144A y fue registrada en la Bolsa de Valores de Irlanda. La transacción cerró exitosamente el 28 de marzo de 2013 y fue la segunda emisión de esta naturaleza que lleva a cabo AES en El Salvador.
Las afiliadas de AES en esta transacción fueron representadas por el equipo de Morgan & Morgan conformado por los socios Inocencio Galindo y Ramón Varela, y los asociados Roberto Vidal y Carlos Hoyos.
MMG Trust (Panamá), S.A., el socio Eduardo González asumió la responsabilidad principal.
Morgan & Morgan advises the issuer in a senior notes issue for an amount up to US$600 million to complete the acquisition of Corredor Norte
As part of the acquisition of the Corredor Norte, Morgan & Morgan also represented the Ministry of Economy and Finance, Empresa Nacional de Autopista, S.A. (ENA), and ENA Norte, S.A. (an affiliate of ENA), in a U.S. $600,000,000 issuing of 4.95% Notes due 2028, registered before the National Securities Commission of the Republic of Panama and successfully placed through the Panama Stock Exchange.
The acquisition of the Corredor Norte was one of the centerpieces of the Panamanian government’s infrastructure improvement plan, and was implemented through ENA Norte, S.A. As collateral on the Notes, ENA Norte, S.A., assigned its rights under the Concession to the ENA Norte Trust, a trust created in order to act as issuer of the Notes.
HSBC Securities (USA), Inc., and Global Bank Corporation acted as Joint Lead Managers, while HSBC BANK (PANAMA), S.A., was selected to act as trustee of the ENA Norte Trust.
Fitch Ratings assigned a BBB rating in the International Scale, and an AAA in the National Scale to the Notes. The issue of these secured notes was structured with a pass-through repayment mechanism, with all excess cash to be used to repay the principal. The proceeds from the Notes, which were issued under Rule 144-A/Reg S, were used to finance part of the US$647MM purchase price for the Corredor Norte concession.
Morgan & Morgan acted as Panamanian counsel for MEF, ENA and ENA Norte. Partner Inocencio Galindo led the Morgan & Morgan team, which was also comprised of partner Ramon Varela and associates Roberto Vidal, Ricardo Arias, Gilbert Mallol and Ana Carolina Castillo. And partners Raul Castro, Eduardo Gonzalez, and associate Nestor Broce, were all assumed the principal responsibility in the trustee operation.
Outstanding participation of the Morgan & Morgan Group at the STEP Latam Conference 2012
MMG Trust, a member of the Morgan & Morgan Group (MMG), as a Gold Sponsor, participated on September 27th and 28th in the regional STEP Latam Conference 2012 in the Hotel Riu in Panama City, a meeting that served as a gathering point for more than 300 professionals in the Trust and Fiduciary business. As representatives of the MMG, the lawyers Luis Manzanares (Chairman of the Board of STEP-Panama Branch), Eduardo Gonzalez, Gabriel Tribaldos, Nestor Broce, Francisco Nugue (office manager of the Group’s fiduciary in Ecuador) and Hugo Rodriguez (VP of Investment Banking of MMG Bank), participated in the conference.
This conference was aimed for creating business opportunities and relationships that add value to members of this association and thus, create a better service to its customers worldwide. The conference touched on issues of great and current interest, such as: “Latin America and the CFI: partners in a transparent world,” “Tax Reform: Updated on the Latin America Region”, “Repatriation of funds to Latin America”, “The FATCA”, among others. During the conference, the attacks by the Organization for Economic Cooperation and Development (OECD) to the territories with financial centers in Latin America and the Caribbean was an issue of debate. Several experts discussed during STEP Latam how small territories like Panama should partner to defend their interests with this organization.
For MMG Trust , it was an honor to participate as a Gold Sponsor in this conference, organized by the Society of Trust and Estate Practitioners (STEP), a prestigious international organization composed of leading business professionals in the fiduciary and trust businesses around the globe34
MMG Trust, a member of the Morgan & Morgan Group (MMG), as a Gold Sponsor, participated on September 27th and 28th in the regional STEP Latam Conference 2012 in the Hotel Riu in Panama City, a meeting that served as a gathering point for more than 300 professionals in the Trust and Fiduciary business. As representatives of the MMG, the lawyers Luis Manzanares (Chairman of the Board of STEP-Panama Branch), Eduardo Gonzalez, Gabriel Tribaldos, Nestor Broce, Francisco Nugue (office manager of the Group’s fiduciary in Ecuador) and Hugo Rodriguez (VP of Investment Banking of MMG Bank), participated in the conference.
This conference was aimed for creating business opportunities and relationships that add value to members of this association and thus, create a better service to its customers worldwide. The conference touched on issues of great and current interest, such as: “Latin America and the CFI: partners in a transparent world,” “Tax Reform: Updated on the Latin America Region”, “Repatriation of funds to Latin America”, “The FATCA”, among others. During the conference, the attacks by the Organization for Economic Cooperation and Development (OECD) to the territories with financial centers in Latin America and the Caribbean was an issue of debate. Several experts discussed during STEP Latam how small territories like Panama should partner to defend their interests with this organization.
For MMG Trust , it was an honor to participate as a Gold Sponsor in this conference, organized by the Society of Trust and Estate Practitioners (STEP), a prestigious international organization composed of leading business professionals in the fiduciary and trust businesses around the globe34
- Published in Eduardo Gonzalez, Gabriel Tribaldos, Luis Manzanares, Nestor Broce, News
Morgan & Morgan advices in acquisition of Cardoze & Lindo, S.A.
On Friday, September 16, 2011, after more than three months of negotiations, a group of Ecuadorian investors acquired a significant share of the assets of Cardoze & Lindo, S.A., as well as its liabilities. The operation led to a change in the Panamanian distributor of the Caterpillar brand.
Morgan & Morgan provided legal counsel in the deal, structuring the legal framework used to acquire the necessary assets for the group’s new operation in Panama. The partners, Carlos Ernesto González Ramírez, Roberto Lewis, Eduardo González, and Francisco Arias were all involved in various stages of the process. Carlos E. González R. led the firm’s team, which included, among others, Ricardo Lachman, who managed the labor aspects of the deal, and Ana Cristina Castrellón, who was responsible for contractual and corporate management.
As part of the transaction, Morgan & Morgan also advised Importadora Industrial Agricola S.A. (IIASA) on the financing portion of the operation by Caterpillar Financial.
Also participating in the deal were the law firms of Galindo Arias & Lopez, advising Cardoze & Lindo, and Patton Moreno & Azvat, advising Caterpillar Financial.
El día viernes 16 de septiembre de 2011, culminó un proceso de negociación de más de tres meses mediante el cual un grupo de inversionistas ecuatorianos adquirió una parte importante de los activos de Cardoze y Lindo, S.A. y asumió sus pasivos. Esta operación ha tenido como marco un cambio de distribuidor de la marca Caterpillar en Panamá.
Morgan & Morgan actuó como asesor estructurando el esquema legal que se utilizó para adquirir los activos necesarios para la nueva operación de este grupo en Panamá. Los socios Carlos Ernesto González Ramírez, Roberto Lewis, Eduardo González y Francisco Arias estuvieron involucrados en distintas etapas del proceso. Carlos E. González R. dirigió el equipo de la firma, el cual estuvo integrado por Ricardo Lachman, dirigiendo la parte laboral; Ana Cristina Castrellón, en el manejo contractual y corporativo; así como otros miembros de la firma en temas puntuales.
Como parte de la transacción, Morgan & Morgan también asesoró a Importadora Industrial Agricola S.A. (IIASA) en lo que correspondió al financiamiento de la operación por parte de Caterpillar Financial.
También participaron en la operación las firmas Galindo Arias & López, asesorando a Cardoze & Lindo, y Patton Moreno & Azvat asesorando a Caterpillar Financial.