David Ernesto Claros Flores

Practice Areas

David Claros is Senior Associate of García & Bodán and a member of the corporate and transactional, labor and banking and finance practice areas in El Salvador.

Throughout his professional experience, he has participated in important transactions for renowned companies around the world focusing on corporate law. He also has extensive experience on labor issues, loan structuring, financial and insurance regulatory issues.

He is an active member and volunteer of various committees and trade associations from where he promotes international trade, private companies’ rights, young entrepreneurs’ development, and the study of Law and democracy to strengthen the Rule of Law in El Salvador.

He has participated in several seminars offered by local and foreign institutions; experiences that helped him to develop all the necessary abilities to become an excellent professional.

Practice areas:

- Corporate-Commercial

- Transactional

- Mergers and Acquisitions

- Purchases and Contracting of Goods and Services

- Trusts

- Anti-Trust

- Free Zones

- Banking

- Finance

- Aeronautic

- Non-governmental Organizations

- Immigration

- Social Security

- Labor

Professional Memberships

Former Vice President of the Board of the Brazilian Chamber of Commerce of El Salvador.

Former Chairman of the Advisory Committee of Young Entrepreneurs and Professionals Chamber of Commerce and Industry of El Salvador (CCIES).

Former member of the Young Leadership Committee of AmCham El Salvador.

Member of the Labor Committee of Amcham El Salvador (AmCham).

Work Highlights

- Counseled First Cash Financial Services, a US-based leading pawn house company, in their USD 7 million acquisition of Maxiprenda El Salvador, S.A. de C.V., a pawn house company with operations in Mexico, Guatemala and El Salvador.

- Advised Proyecto Bodegas El Salvador with a project for the construction of a USD 12 million warehouse complex.

- Represented the client, a leading US-based multinational company, in the defense against a USD 3.5 million lawsuit filed by one of their distributors for alleged breach of the distribution contract.

- Assisted Grupo Ecos and SI Capital in the acquisition of a minority stake in Escotel Investments, S.A., an investment vehicle of Enertika, an engineering company based in Spain, and world leader in power generation and energy efficiency The advice was provided in Guatemala, El Salvador and Nicaragua.

- Legal advice and assistance to ThermaSource, a leading US-based international provider of services in the geothermal energy sector, the advice consisted in the formation of a new company in El Salvador. As a result, he counseled the client in the establishment of an industrial pledge for USD 12 million in order to ensure the credit obligation with the lender.

- Legal counsel to our client, a service company in the energy sector, in labor issue regarding an employee outsourced through a company responds to demands in human resource management.

- Advised on public liability, criminal, consumer and data protection issues for use of a new application in El Salvador and Honduras that the company was planning to launch in these countries.

- Advice to medium and large companies, as well as to Chambers of Commerce, regarding with the compliance with legal standards for combating money laundering.

Languages Spoken

Spanish

English