Panama, July 22, 2021. Morgan & Morgan is pleased to announce that, for the sixth consecutive year, the firm´s Private Wealth Law practice group earned a top ranking (Band 1) in the 2021 Chambers Hight Net Worth Guide, a prestigious publication aimed at the international private wealth market and a key reference point of the world´s leading firms in terms of service excellence and reputation.
“Chambers quotes an important institutional client saying: “ I don´t think there is a law firm as excellent as them in Panama. If we have something in Panama, we always go to Morgan & Morgan. They are knowledgeable, they provide an excellent service to clients and they are good to work together with.”
Six of Morgan & Morgan’s attorneys were also distinguished with top rankings as Notable Practitioners in the above-mentioned guide:
Roberto Lewis Morgan, partner, (Band 1) is head of the practice and has a depth of expertise in wealth preservation and succession matters, including private foundations and corporate vehicles. A client commented to Chambers that he “is someone with a fantastic reputation. He is very good creating structures for clients and he is very, very clever” and is “the go-to lawyer for foundation matters.”
Raul Castro, partner, (Band 2) is an advisor to the Panamanian government regarding international tax matters, CRS and FATCA implementation. One market insider says to Chambers “He is a smart attorney with a very good insight into international matters. He is good at handling complex matters and is always coming up with creative solutions for clients.”
Luis Manzanares, partner, (Band 2) has substantial experience in wealth preservation matters, including tax and succession planning advice on investment funds, trusts, and private interest foundations. “Very knowledgeable on foreign trust issues. He is a very client-oriented and great to work with.” says one client to Chambers.
Luis Miguel Hincapie, partner, (Band 3) is regularly assisting the firm´s South American clientele, and oversees the firm´s business strategy in Asia with a special interest in China. “He has a lot of expertise on international matters, which makes him a great asset to have on your side. He can handle very sophisticated matters,” said one client to Chambers.
Fernando Boyd, partner, (Up and Coming) is recognized for his knowledge of Panamanian Corporate Law and has ample experience in the creation and administration of complex multi-client and multi-jurisdictional structures. “He is an awesome lawyer. He is very responsive, very on top of details and definitely somebody to watch,” said one client to Chambers.
Laura Barrios, senior associate, (Associates to Watch) is considered one of Panama´s most knowledgeable tax treaty and CRS and FATCA reporting expert in the region. “She is very smart and responsive. She is very knowledgeable on Panamanian legislation and guidance for private clients. A fantastic attorney.” says one client to Chambers.
Morgan & Morgan has a seasoned team of lawyers with vast experience in traditional wealth protection and management structures such as discretionary and non-discretionary trusts, private interest foundations and corporations. More than five years ago, the firm started a new practice led by a group of young lawyers with vast knowledge in modern and tax compliant structures tailored for high net worth individuals and families.
More information on this recognition is available here.
Partners Roberto Lewis, Raul Castro, Luis Manzanares and Fernando Boyd contributed with the Panama chapter of Chambers & Partners Private Wealth Guide 2019.
The guide provides expert legal commentary on the key issues for high net worth individuals and covers the important developments in twenty-seven jurisdictions, including Panama.
The complete guide is available here.
Panama, March 15, 2018. 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. He has over 15 years of background advising local and international corporations in complex matters such as group restructurings, asset protection and management and private equity investments. His client portfolio includes well-known private companies, banking and financial entities, offshore practitioners, family businesses and individual clients. Mr. Boyd holds a LL.B. in the School of Law of the Universidad Catolica Santa María La Antigua in Panama; and a Master of Laws from the School of Law of the Tulane University in U.S.A.
This promotion comes to strengthen the usual personalized and skilled services provided by Morgan & Morgan and reaffirms our position as Panama´s leading firm.
About Morgan & Morgan
Morgan & Morgan is a full service Panamanian law firm, regularly assisting local and foreign corporations from different industries, as well as recognized financial institutions, government agencies and individual clients. The firm is a member of the Morgan & Morgan Group, an extensive network of legal, fiduciary and financial services with operations in America, Asia and Europe.
Morgan & Morgan advised Inabata America Corporation in the acquisition of a shareholding participation in Agricola Industrial El Boldo
Morgan & Morgan acted as Panamanian counsel to Inabata America Corporation, Japanese trader, in the acquisition of 33,34% of the Chilean company Agricola Industrial El Boldo, owned by Algerton Corp. and dedicated to the production, commercialization, sale and distribution of cranberries worldwide.
For this acquisition transaction, the firm was required to issue opinions on matters relating to Panamanian corporate law and making the due diligence on the selling company.
Firms from Chile, Panama and the United States were involved in the transaction that closed on May 12, 2016.
Roberto Lewis, partner, and Fernando Boyd, associate, took part in this transaction.
Law 47 of August 6, 2013, by which the Republic of Panama adopts a custodial system for shares issued to bearer
The Republic of Panama has recently approved Law 47 of August 6, 2013 (hereinafter “Law 47”), by which it adopts a custodial system for shares issued to bearer.
Said law arises as part of plan to adapt to international standards that have been assessed and implemented by Panama’s government as complement of Law 2 of February 1st, 2011 regarding due diligence in Panama by lawyers engaged in the incorporation of corporate and trust instruments.
Although it has already been approved, Law 47 will become effective on August 6, 2015. On that date, any certificate of shares issued to the bearer shall have an authorized custodian. To such end, the shareholder shall designate the custodian within twenty (20) calendar days following the issuance date of the relevant share.
The authorized custodian is responsible for keeping a minimum of information as set forth in Law 47 on the owner of the share certificate. Any change of ownership over the share certificate shall be notified to the custodian in order to be effective. This provision also applies to shares under custody given in pledge or guarantee.
For bearer shares certificates issued prior to August 6, 2015, a 3-year transition period is established, namely until August 6, 2018, to appoint an authorized custodian.
Morgan & Morgan Group, through its law firm, is in a position to provide Authorized Custodian services for shares issued to the bearer to all companies for which it acts as resident agent, or through MMG Bank (Panama and Bahamas branches) and MMG Trust (Panama, Zurich, British Virgin Islands offices, among others) for any Panamanian corporation including those for which Morgan & Morgan act as resident agents.
It must be underscored that Law 47 allows for the possibility of establishing inheritance provisions over shares issued to the bearer and placed under custody. These shall have precedence over any other testamentary or probate provisions and may be enforced without need of a court decision, which in our opinion, could be a valuable tool in planning a succession.