Posadas

Firm Details:

Managing Partner: Fernando de Posadas

Number of partners worldwide: 16

Number of professionals: 189

Contacts:

Montevideo (Main office): Fernando de Posadas

Zonamerica: Matias Rachetti

Punta del Este: Micaela Muto

Firm Overview:

As one of the largest and most prestigious full-service firms in Uruguay, Posadas excels in sophisticated legal, accounting and tax work. The firm has a proud history operating at the forefront of the Uruguayan market for almost a century. Posadas’ leading position is built on its ability to support clients in highly complex business transactions, advising multinational corporations, financial institutions and local companies across a broad range of practice areas. The firm prides itself on upholding the highest professional standards, helping clients to grow their businesses and building enduring relationships in the process. Our lawyers are highly specialized, with many of them having completed post-graduate degrees at leading universities all over the world, as well as worked at international firms. Never resting on its laurels, Posadas is committed to innovation, introducing the latest technology to its processes, whilst at the same time investing in the training and development of our professionals and in the process, building a strong organizational culture. The firm is also committed to equal opportunities, with its Diversity and Inclusion Committee playing an active role in the life of the institutions by organising important internal and external initiatives throughout the year.

Key practice areas:

Banking & Finance:

Posadas has one of the strongest Banking & Finance practices in the Uruguayan market. The firm is a clear leader in project financings in the energy and infrastructure sector where we typically act for multinational lenders, including investment and development banks. Our lawyers are extremely well-versed in corporate, acquisition and asset finance deals, with the experience and expertise to act for lenders or borrowers. Posadas is also one of the very few firms in Uruguay to have advised on structured finance as well as syndicated, cross-border credit facilities. Our department routinely represents the major multinational banks operating in Uruguay as well as multilateral institutions in their lending activities in Uruguay, in addition to representative offices of foreign banks and international brokerage firms doing business in Uruguay. Our team also has outstanding regulatory knowledge; we are a first port of call for international actors from across the financial services industry, including corporate and development banks, payment services companies, fintechs, brokers and investment advisers, who require our assistance to gain the licences to operate from the Central Bank of Uruguayan.

Corporate & M&A:

Posadas is a corporate powerhouse, with a superb track record in the most complex local and cross-border transactions. We excel in M&A, joint ventures, and all types of corporate reorganization. Our lawyers deliver a deliver a truly customized service, taking time to understand the key commercial drivers for our clients in every deal, conduct meticulous due diligence on targets and act decisively in closings. Posadas also provides day-to-day commercial and corporate advice to a large and prestigious portfolio of clients drawn from multiple industries. As one of the few truly full-service practices in Uruguay; we deliver a multi-disciplinary approach from a corporate, tax and regulatory, including competition law standpoint. This multifaceted approach allows the firm provide corporate clients with a truly comprehensive service.

Dispute Resolution:

Posadas stands out for its work in high stakes contingencies, handling civil, commercial and administrative litigation, as well as judicial reorganizations. Posadas also advises clients in local and international arbitration cases, with some of its members having participated as arbitrators and expert witnesses. Our team has noteworthy experience in class action disputes, involving considerable number of plaintiffs. With one of the largest teams in the Uruguayan market, we are able to represent clients in a large number of sophisticated cases simultaneously. Posadas represents large corporations in both domestic and international litigation, as well as private clients in civil lawsuits. We act on cases across multiple industries, notably energy & natural resources, construction, engineering, real estate, agribusiness, food & drink, healthcare, automotive and aviation.

Energy & Natural Resources:

Posadas is a clear leader in Energy & Natural Resources having handled the most relevant transactions in the last decade, including the largest FDI projects in Uruguayan history such as such as Montes del Plata pulp mill project, Zamin Ferrous - Minera Aratirí, Gas Sayago Liquid Natural Gas regasification plant and currently HIF Global’s development of a hydrogen and e-fuel production plant. The latter is set to be the largest ever foreign investment in the country’s history. Our lawyers have advised on the full range of energy matters, including electricity, mining, and oil and gas, representing both developers and financing institutions. Posadas has considerable experience in public biddings launched by the Uruguayan national electricity company. The firm also has a proud record advising on the development and financing of renewable energy projects, including wind, solar and biomass sources, as well as the acquisition and disposal of energy assets.

Labour:

Posadas provides clients with a 360º approach to all labour matters that is strategic and forward-thinking. The firm has one of the strongest labour advisory practices, assisting with terminations and reorganizations, as well as labour due diligence in the context of M&A. Our team is also highly skilled in negotiating collective bargaining agreements and managing relationships with trade unions. Our team is adept at drafting employment contracts and benefits packages, as well as overseeing hiring processes. Posadas also has a proud history representing clients in individual and collective labour lawsuits. Our services also extend to migratory law and social security issues. Our full-service capability allows us to combine specialist labour lawyers with accountants and tax experts to assist with the administration and liquidation of salaries and benefits, labour tax planning and payroll filing before governmental authorities.

Tax & Accounting:

Posadas has traditionally been very strong in assisting domestic and foreign clients, both corporations and private clients in the full gamut of tax matters. Our professionals are experts in both domestic and international tax matters. Posadas helps clients identify the most efficient corporate and financial structures and also possess expertise in transfer pricing. The firm’s tax and accounting team has grown considerably and branched out into more specialized activities, such as back-office services for foreign entities, particularly foreign-based funds.

As the only firm ranked in Band 1 by Chambers in Private Wealth Law, our wealth management practice is the undisputed market leader. Posadas was the first firm to open offices in a free trade zone to render tax services to foreign clients, and the only one to have set up a subsidiary in New Zealand as well as the only one to have a practice acting as Registered Agents in Belize, managing Business Companies constituted in this jurisdiction. In addition, the firm has developed an extensive network of correspondents in BVI, Cayman, New Zealand, UK, the Bahamas, Canada and USA, which allows us to efficiently manage our clients’ needs.

Real Estate:

Posadas has a strong real estate practice, advising both local and foreign investors and developers on the full spectrum of real estate matters across the retail, leisure, commercial and industrial sectors. Posadas provides comprehensive advice to its clients on regulatory real estate matters, as well as on acquisitions and financings involving mortgages, pledges, and guarantee trusts. Posadas has proven expertise in the structuring of real estate projects –pioneering the implementation of Real Estate Trusts (fideicomisos imobilarios), which is now the most common vehicle for real estate investments. Our lawyers are also highly skilled in due diligence processes in which property title issues and problematic encumbrances over the involved parties must be resolved. Our strength in real estate is demonstrated by our involvement in large real estate projects in urban centres as well as our intense activity in rural real estate projects, particularly in relation to the forestry industry.

Languages:

Spanish, Portuguese, English, French, Italian.

Clients:

ABB; Advent; Aerolíneas Argentinas; Aon; ArcelorMittal; Arch Chemicals; Associated British Foods; AT&T; Avianca; AWAS Aviation Services; Banco BBM; Banco Santander; Banco SulAmerican Scandinavian; Banco Itaú; Banco Nacional do Desenvolvimento (BNDES); Bayeris Che Hypo – Und VereinsBank; Belgo Mineira; BGH; BID Invest; Blackrock Inc; BNP Asset Management.; SAVENCIA(Ex Bongrain Internacional); BRASIF; British Petroleum; Burns Philip & Co.; BTG PACTUAL; CAF; Case New Holland; Caterpillar Leasing Chile; Ceres Tolvas; Cmi Internacional Group; Codere; Air France; DEG – Entwicklungesellshaft MBH – ; Delta Airlines; Deutsche Bank (Brasil); Electrobras; Federal Reserve Bank of New York; Ferrero Argentina; FMO – Maatschappijvoor; Ford Credit Europe Ford Motor Company; General Motors; GMO LLC; Hering; IATA (International Air Transport Association); Inditex (Zara); Inter-American Development Bank; International Finance Corporation; Interfood Latino America; InBev; John Deere; LUMIN; L’Union de París Comp. Argentina de Seguros; MasterCard International; Mead-WestvacoGroup; Merrill Lynch Pierce Fenner & Smith / Bank of America; Metropolitan Life Seguros de Vida; Monsanto; Montes del Plata; Nokia; Panamerican Life Insurance; Payless Shoes; Rigesa, Celulosa, Papel e Embalagens; Pedidos YA; Rockwel Automation; Santander Global Services; Safra Bank; Sasol Germany; SLC Alimentos; Sohl Marine; Suzano Papel e Celulosa; Teka Tecelagen Kuehnrich; Telecom Argentina; Tetra Pak; Votorantim Celulose e Papel; Veolia Water; Verizon; Visa Net Uruguay; Votorantim Cimentos; World Fuel Services.