Morgan & Morgan

Morgan & Morgan Attorneys at Law is the principal provider of legal solutions for Panama and Central America, and part of the Morgan & Morgan Group. Our staff of approximately 700 employees serves an efficient operational network in more than 20 cities in America, Asia and Europe.

The Firm's extensive general practice includes all areas of the law. It has a successful network of correspondent agents, which include some of the most important law firms in the world, allowing us to give an effective and efficient answer to the needs of our clients worldwide.

Our team of more than 70 specialized attorneys are dedicated to Business & Corporate Law, Mergers & Acquisitions, Financing and Capital Markets, Arbitration and Litigation, Intellectual Property, Immigration & Employment Law, Real Estate, Private Foundations, Company Formation and Management, Admiralty and Shipping Litigation, Ship Finance & Vessel Registration, among others specialties.

The quality of our lawyers, executives and professional staff, our international best-practice standards, our specialized services and our presence in major business and financial centers around the world provides us with an unrivalled capability to offer our customers across the world a complete and integrated range of legal services.

Recent developments
In 2010, Morgan & Morgan places the keystone of its new headquarters in Costa del Este, Panama City. MMG Tower will be one of the first green buildings in Panama, becoming part of a select group worldwide. Furthermore, in the first trimester of 2011 opened a new branch in Cyprus, providing the firm the capability to offer corporate and fiduciary services in this important financial center.

MAIN INTERNATIONAL AREAS OF PRACTICE:
Mergers & Acquisitions: M&M regularly advises clients in connection with the sale and purchase of businesses as well as joint ventures. During the last year, the firm participated in transactions in several industries, including electricity generation, insurance, construction, real estate, hospitality, banking related services, shrimp farms, restaurants, retail, printing and editing, and non-alcoholic beverages, some with cross border components.

Project Finance: M&M has consolidated itself as the leading project finance firm in Panama, participating in the country's most important transactions. During 2010, the firm continues representing institutions involved in financial transactions for some of the principal projects in Panama such as the Panama Canal Expansion project. The firm represented HSBC Bank (Panama), as Administrative Agent and Lender in a US$60 million bridge loan facility granted to Ideal Panama, S.A., a subsidiary of Impulsadora del Desarrollo y el Empleo en America Latina, S.A. de C.V. (IDEAL), for the construction of a 87 MW hydroelectric power generation facility (Baitún Project) and a 54 MW hydroelectric power generation facility (Bajo la Mina Project) in the Republic of Panama. The firm also acted as Panamanian counsel for Jazz Air in the US$15 million investment by Canada's Jazz Air Income Fund in Uruguay's Pluna airline through the subscription of shares of the Panamanian Holding Company of Pluna Lineas Aereas Uruguayas. M&M also represented Caterpillar Leasing Chile in connection with a US$48 Million secured loan made to Inti Inversiones Interamericana's Corp., a subsidiary of Ferreyros S.A.A., related to the acquisition of Caterpillar dealerships in Central America.

Project Development: M&M continues to advise its client, AES CHANGUINOLA, S.A., an affiliate of Arlington, VA-based The AES Corporation, in the development of the Changuinola I Hydroelectric Project, located in the Province of Bocas del Toro. Currently, the Changuinola I Project is the largest infrastructure project under construction in Panama after the Panama Canal Expansion Project.

The firm also continues representing Minera Panama, S.A., in the development of a copper mining project in the District of Donoso, Province of Colon. This project is valued over US$5 billion.

Banking & Securities: M&M provides continued advice and assistance to the largest banking institutions in Panama, both in transactional and regulatory matters. In addition, the firm has assisted new institutions seeking to enter the Panamanian market in obtaining the required banking licenses. In 2010, M&M assisted Uni Bank & Trust, Inc. in obtaining its banking and trust licenses in Panama, with and investment of US$50 million to start operations. Additionally, the firm regularly advises clients with respect to securities law issues and represents various regulated entities with the National Securities Commission, in connection with the application for licenses, registration statements and reporting activities, as well as overall administrative proceedings before the Commission.

During 2010, the firm provided legal counsel to Credit Suisse in the issuance and sale of up to US$2,250,000,000 aggregate principal amount of Euro Medium Terms Notes of Bladex. M&M also represented Cirsa Gaming Corporation S.A. and Deutsche Bank AG, London Branch in the offering of $400,000,000 aggregate principal amount of 8.750% senior notes due 2018 through the direct wholly-owned finance subsidiary, Cirsa Funding Luxembourg S,A. Furthermore, the firm advised its clients HSBC Leasing, S.A., regarding the registration of Revolving Notes for the amount of US$ 150,000,000.00; and Banco La Hipotecaria, S.A. in cross-border securitisation of mortgage loans and public offer of mortgage bonds for an amount of up to US$100,000,000.00.

Litigation: M&M Litigation Practice Group maintains and strengthens its leadership in this area in Panama participating in groundbreaking claims both in the administrative and civil areas, as well as several ongoing proceedings before the Supreme Court of Panama and International Law.

Fiduciary: M&M is the leading firm in offshore and estate planning services in Panama. MMG Trust S.A., fiduciary headquarters of the Group, which is regulated and supervised by the Superintendency of Banks of Panama, is one of the leading Trust Companies in the region, with over US$700 Million in assets under administration.

Shipping: M&M continues to be the leader in Panama for ship finance and ship registration transactions worldwide and has contributed to update Panama's new maritime legislation through the involvement of its partners in the enactment of four new shipping laws. Statistics from the General Directorate of Merchant Marine and the Public Registry Office of Panama shows that M&M handles 28% of the ship registrations that goes through its shipping registry. On the ship finance transactions, M&M accounts for 31% of this type of shipping operations where Panama jurisdiction is used within the multilateral ship finance schemes. The firm also implements an electronic transfer platform, known as GAD, which allows etransmission and printing of documents that stand as originals as per Panama legislation on technological storage of documents, resulting in the most time effective assistance in the handling of registration of Panama naval mortgages and resolutions of Panama companies.

AWARDS

2011 Winner of the "Litigation Advisory Firm of the Year in Panama" by Corporate INTL Magazine.

2011 Top Ranked Financial & Corporate Law Firm by "International Financial Law Review 1000".

2010 Recognized as the best Panamanian "Shipping and Maritime Law Firm" by Global Law Experts.

2010 Listed in the "American Bar Association (ABA)-Foreign Law Firms Guide".

2010 Recognized with the "Good Corporate Citizen Award" by the American Chamber of Commerce & Industry of Panama to the company with the Best Social Responsibility Program.

2010 Internationally recognized by the "Women's Association for Dialogue and Education" in Madrid, Spain, for it's "Comprehensive Development Project for the Rural and Marginal Women of Panama", developed by FUNDALCOM.

2010 Winner of the "Deal of the Year" by Project Finance Magazine for the Petro Terminal Panama Refinancing Project.

2010 Winner of the "Deal of the Year" by Latin Lawyer for the counsel in the Panama Canal Financing Project.

2010 Top Ranked Law Firm in Panama in Banking & Finance, Litigation and Shipping by Chambers Global & Latin America.

2010 Top Ranked Law Firm in Panama and Central America by Latin Lawyer Magazine.

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Significant Amendments to Panama's Securities Law
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