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Icaza, González-Ruiz & Alemán


Icaza, González-Ruiz & Alemán - Panama
  • Aquilino de la Guardia Street No. 8
  • IGRA Building, 5th floor
  • P.O. Box 0823-02435
  • Panama
  • Panama
  • Panama
  • Counsels: Rodolfo Chiari, Domingo Díaz A, Juan A Tejada M, Alexis V Herrera V, Vasco Wendehake, Juan Lombardi.
  • Partners: Joel Medina, Francisco González-Ruiz, Roberto Alemán, Gabriel González-Ruiz, Nora Jurado, Michelle de De la Guardia, Domingo Díaz S, Mariano Oteiza I, Alvaro Alemán, Gabriela Tejada de Britton, Joaquín Díaz, Alexis Herrera Jr, Hugo Morán, Luis Chalhoub, Ana Graciela Medina
  • Number of Associates: 17
  • International Offices: The firm also has offices in Anguilla, Bahamas, Belize, British Virgin Islands, Cyprus, Geneva, Lugano, Luxembourg, Seychelles, Singapore and UAE.

THE FIRM: Established in 1920, Icaza, González-Ruiz & Alemán has been providing tailor-made, sophisticated solutions to key corporate clients, international institutions and public entities, while remaining committed to offering a partner-led, individualised legal service and advice to private clients. As a result, the firm has been recognised as a leader by the most reputable rankings of the industry such as Latin Lawyers, Chambers & Partners, Who’s Who Legal, Legal500, IFLR1000, Managing Intellectual Property and LACCA, among others. Icaza, Gonzalez-Ruiz & Aleman’s capabilities stretch across various jurisdictions worldwide. Its performance is further enhanced by the existence of Icaza Trust Corporation and Panamerican Management Services, S.A, both corporate entities empowered to complement the firm’s services. Its professional practice in the area of commercial law is not limited to the structuring of businesses. The litigation department is administered under a separate structure known as Bufete Igra. Icaza, Gonzalez-Ruiz & Aleman is on the list of legal consultants for projects of the World Bank and of the Inter-American Development Bank.

MAIN AREAS OF PRACTICE: Icaza, Gonzalez-Ruiz & Aleman legal services encompass all areas concerning administrative law; admiralty and shipping law, banking and finance; capital markets and securitisation; communications and information technology (CIT); consumer protection and competition law; environmental law and energy; immigration and naturalisation; labour law; insurance and re-insurance; intellectual property; international commerce; litigation and alternate dispute resolution; public contracts and privatisations; taxation; company formation; trust and estate planning; and private foundations, among others. It has one of the leading litigation practices, and benefits from long experience and in-depth specialisations of its partners, associates and paralegal staff. The firm routinely handles complex cases and its lawyers are qualified to handle all documentation, deposition and discovery procedures. The firm has been involved in a wide variety of deals of secured and unsecured financing, from debt and equity to structured facilities; has acted for managers, investors, selling shareholders, issuers, debt providers and trustees. Its clientele within the capital market practice varies from banks and multilaterals such as the International Finance Corporation to private funds, consortiums or emerging businesses.
ICAZA’s lawyers focus on tax-oriented advice and can offer a very broad spectrum of vehicles for the international structuring of business and private equity by selecting the most suitable corporate structures from their transactional expertise on a choice of domiciles in multiple jurisdictions. It also has a well recognised maritime practice which includes corporate structure and finance arrangements for shipping enterprises; vessel, ship and yacht ownership registration/insurance; acquisition or disposal of vessels; cross-border transactions; advice on the most appropriate registration choices; maritime litigation; ship mortgages; attachment and arrest of vessels; drafting and negotiation of credit and security instruments; maritime contracts in general. The firm has participated in the most important M&A transactions and project finance of the recent times in Panama. They provided legal consultancy to Aeropuerto Internacional de Tocumen, SA, in the issuance of corporate bonds for the amount of US$650 million for the financing of the expansion works of the airport, including the new South Terminal (one of the most important issuances in recent years on the local market). The firm’s lawyers were the legal advisers of Avianca airline holding in its first international market bond issuance for US$300 million.

LANGUAGES: English, Spanish.

CLIENTS The firm’s clientele includes Fortune 500 companies, corporate clients, international institutions and public entities.


  • Aquilino de la Guardia Street No. 8,
  • IGRA Building, 5th floor,
  • P.O. Box 0823-02435,
  • Panama,
  • Panama
  • Tel +507 205 6000
  • Fax +507 269 4891
  • Email : igranet@icazalaw.com
  • Website : www.icazalaw.com
  • Montevideo,
  • Uruguay

Banking & Finance - Panama

Basic facts about the department
– 8 partners

What the team is known for Respected team recognised for its efforts in regulatory and compliance matters, and for advising leading domestic and international financial institutions.

Strengths (Quotes mainly from clients) 
"This is a one-stop shop. The team is very capable when it comes to creating financial structures in Panama, as well as Panamanian investment funds."

Work highlights Acted as counsel to Consorcio Omega on obtaining a credit facility of over USD50 million for the construction of the Ciudad de las Artes.

Notable practitioners  

Gabriel González-Ruiz is praised by one market source as being at “the top” of his practice.

Luis Chalhoub has led on some of the firm's most notable mandates in the Panamanian banking space and is praised by sources for his professionalism. 

Significant clients Citibank, Global Bank, Banco General, HSBC, JPMorgan Chase.

Capital Markets - Panama

Basic facts about the department
– 4 partners 

What the team is known for Strong focus on project, maritime and aviation finance on the capital markets. Provides a well-rounded service to clients, including private funds, emerging businesses and large banks and multinationals.

Work highlights Advised Avianca on the issue of USD300 million of international market bonds.

Notable practitioners  

Name partner Gabriel González-Ruiz heads the team and joins the rankings on the back of his involvement in the capital markets sector. 

Significant clients Citibank, Empresa Nacional de Autopistas (ENA), Bicsa Capital, Interbolsa Panama, Intercuentas.

Corporate/M&A - Panama

Basic facts about the department
– 10 partners

What the team is known for Long-standing corporate practice active in the market for a century. Advises a wide range of clients in this space, from banks and multilaterals to private funds and state-owned entities.

Strengths (Quotes mainly from clients)
"The team's level of knowledge is good, and they cover general advice to litigation matters. Their support in litigation cases is very good and the fees are fair."

Notable practitioners  

Experienced partner Roberto Alemán focuses his practice on areas such as private interest foundations, company foundation and management and corporate law. 

Alongside his corporate practice, Gabriel González-Ruiz advises clients on matters relating to IP, litigation, alternative dispute resolution and privatisation.

Significant clients Aquatic Informatics, ETC America, Fyffes, Laureate International University.

Dispute Resolution - Panama

Basic facts about the department
– approximately 3 lawyers

What the team is known for Represents clients in the full range of civil, commercial and penal disputes. Advises heavy-hitting names across the banking, insurance and international commerce industries. 

Notable practitioners 

Carlos Villalobos is the key client contact. 

Intellectual Property - Panama

Basic facts about the department 
- 2 partners
- 2 other qualified lawyers

What the team is known for Advises an impressive local and international client roster on anti-piracy and anti-counterfeiting matters in co-ordination with the local customs authorities.

Strengths (Quotes mainly from clients)

"An excellent choice for cost and quality." 

What's new? Hugo Morán was recently promoted to partner.

Work highlights Successfully represented Philip Morris in opposing various trade mark applications.

Notable practitioners  

The deeply experienced Gabriela Tejada de Britton is acknowledged as a leading IP lawyer by sources, owing to her level of sector knowledge. 

Recent partner Hugo Morán is increasingly visible in IP matters, according to sources, who particularly note his presence in anti-piracy matters.

Significant clients Unilever, DreamWorks, Oakley, Louis Vuitton, Sony.

Offshore - Panama

Basic facts about the department
- approximately 4 partners 

What the team is known for Particularly recognised as a strong player in domestic offshore matters.

Strengths (Quotes mainly from clients)

"The offshore team is excellent and has an important presence in the market."

Notable practitioners  

Department head Roberto Alemán draws on recognised corporate experience and is especially singled out by clients for his strengths in creating local investment funds and financial structures.

Projects - Panama

Basic facts about the department
- 1 partner
 - 1 other qualified lawyer

What the team is known for Active team advising clients in a wide range of sector aspects, including mandates relating to state regulations. 

Strengths (Quotes mainly from clients)
"We have the utmost respect for the firm. The main strengths are good communication and the personalised attention given by the lawyers." 

Notable practitioners  

Experienced lawyer Gabriel González-Ruiz receives praise from interviewees, who regard him as "an intelligent and determined lawyer who combines the legal and practical, which is a unique skill."

Promising associate Jordana Fasano is described by sources as "a very capable young lawyer."

Significant clients TOCUMEN, Copa Airlines, Global Bank, Consorcio Omega.

Shipping - Panama

Basic facts about the department
- 3 partners
- 1 other qualified lawyer

What the team is known for Compact team focused on shipping finance, M&A and litigation. Regularly serves local, North American and European clients.

Notable practitioners  

Partner Alexis Herrera Jr is particularly noted by sources for his activity in maritime and admiralty disputes.

Clients describe head of department Joel Medina as "skilled, efficient and responsive."