Morgan & Morgan advised the shareholders of Unity Group in a corporate restructuring and subsequent sale of its business to Willis Europe B.V.

Panama, March 12, 2020. Morgan & Morgan advised  the shareholders of Unity Group, a holding company with subsidiaries engaged in insurance brokerage in Central America with operations in six countries (Panama, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua), in a corporate restructuring and subsequent sale of its business to Willis Europe B.V., a company

Chambers & Partners Securitization Guide 2020

Panama, March 9, 2020.  Partners Francisco Arias, Ricardo Arias, and associate Cristina De Roux contributed with Chambers & Partners, providing their professional insights into Panama’s legal securities market. The online Panama chapter is available here. Or a PDF version is available to download here.

Morgan & Morgan advised in connection with a Senior Secured Convertible Securities Purchase Agreement for an amount of up to US$50 million

Panama, January 9, 2020. Morgan & Morgan acted as Panamanian counsel to Avianca Holdings, S.A., Latin Airways Corp., Taca, S.A., AV International Investments, S.A., AV International Holdings S.A.,  AV International Holdco S.A., AV International Ventures S.A., AV TACA International Holdco, S.A.,  and Aviacorp Enterprises, S.A., as Note Parties in connection with the transactions contemplated by

Morgan & Morgan advised Avianca Holdings, S.A. in Exchange Offer of Senior Notes for US$550,000,000

Panama, November 1, 2019. Morgan & Morgan advised Avianca Holdings, S.A., a company incorporated under the laws of the Republic of Panama (the “Company”), in launch and consummation of an exchange offer of the Company’s previously issued US$550,000,000 8.375% Senior Notes due 2020 for newly issued US$550,000,000 8.375% Senior Secured Notes Due 2020 (the “Exchange

Morgan & Morgan advised MMG Bank Corporation in connection with the structuring of the first ever public offering of revolving Green Bonds issued in the Republic of Panama

Panama, September 3, 2019. Morgan & Morgan advised MMG Bank Corporation, in the structuring of the first ever public offering in the Republic of Panama that consists in a program of revolving Green Bonds issued by Corporacion Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI), for an amount of up to US$200,000,000.00. The Green Bonds

Morgan & Morgan advised Grupo Mercantil in connection with the registration of 104,760,961 common shares of its Panamanian holding Mercantil Servicios Financieros Internacional, S.A.

Panama, August 27, 2019. Morgan & Morgan acted as counsel to Grupo Mercantil in connection with the registration of 104,760,961 common shares of its Panamanian holding Mercantil Servicios Financieros Internacional, S.A. with the Superintendency of Capital Markets of Panama for its negotiation in the secondary market, shares that have been also listed on the Panama

Morgan & Morgan advised Banco La Hipotecaria, S.A. in the registration and issuance of Mortgage Loans Notes for an amount of up to US$40 million

Banco La Hipotecaria, S.A., acting as trustee of the Fifteenth Mortgage-Backed Notes Trust (an issuer trust constituted under the laws of Panama), registered Mortgage Loans Notes in three tranches for an amount of up to US$40,000,000 with the Superintendency of Capital Markets of Panama, which notes were successfully placed through the Panama Stock Exchange.  Payments

Crowdfunding as a source of financing for businesses

Ricardo Arias and Roberto Vidal, partners of the Corporate Law Department of Morgan & Morgan One of the biggest challenges that micro, small and medium enterprises face when trying to settle in and achieve success as profitable businesses is to obtain capital and sources of financing. Sometimes, the most common sources of financial resources –

Morgan & Morgan advised Banco La Hipotecaria, S.A. in the structuring of its first covered bond program

Morgan & Morgan advised Banco La Hipotecaria, S.A. (BLH) in the structuring of its first covered bond program from which BLH may issue covered bonds pursuant to Rule 144A and Regulation S of the Securities Act of 1933 in series, from time to time, up to a maximum aggregate nominal amount of US$200,000,000. The issuer

Morgan & Morgan advised Hidroeléctrica Bajos del Totuma, S.A. in the registration for issuance of corporate bonds for an amount of up to US$32,000,000.00.

Morgan & Morgan acted as legal counsel of Hidroeléctrica Bajos del Totuma, S.A., a Panamanian hydropower company, in the registration for issuance of corporate bonds for an amount of up to US$32,000,000.00. The issuance has been registered with the Superintendency of Capital Markets of Panama and will be listed on the Panama Stock Exchange. The