Morgan & Morgan


MMG Tower, 23rd Floor, Avenida Paseo del Mar
Costa del Este
Panama City

+507 265 7777

Quick facts:

Number of lawyers: 80
Network memberships: Terralex, World Services Group, American Law Firm Association
Year of foundation: 1923

Mergers and Acquisitions, Real Estate, Securities and Capital Markets, Intellectual Property 
Francisco Arias, Partner  

Banking and Finance, Mining, Taxation
Inocencio Galindo, Partner 

Energy and Natural Resources, Projects
Ramon Varela, Partner

Litigation and Dispute Resolution, Criminal Law
Jose Carrizo, Partner 

Antitrust and Consumer Protection, Government Procurement and Contracts, Insurance and Reinsurance
Carlos E. Gonzalez R., Partner 

Labor Law
Ricardo Aleman, Partner

Immigration Law
Albalira Montufar, Partner

Offshore and Estate Planning
Roberto Lewis, Partner

Ship Finance and Registration 
Jazmina Rovi, Partner

Shipping and Admiralty Litigation
Juan David Morgan Jr., Partner 


Morgan & Morgan is a full-service Panamanian law firm, regularly assisting local and foreign clients from different industries, including recognized financial institutions, government agencies, and individual clients. In particular, the firm has been involved in all stages of the development of mega projects related to energy, water supply, construction, oil, mining, public infrastructure, retail, ports, transportation, among others.

  • Asset finance
  • Banking
  • Capital markets: Debt
  • Capital markets: Equity
  • Competition
  • Covered bonds
  • Financial restructuring
  • Financial services regulatory
  • Hedge funds
  • Investment funds
  • M&A
  • Private equity
  • Project bonds
  • Project development
  • Project finance
  • Real estate finance
  • Restructuring and insolvency
  • Securitisation
  • Structured finance/securitisation

Examples of transactions our firm has undertaken:

Advising the Ministry of Public Works of the Republic (Panama) on the drafting and passage of the new Law for Public-Private Partnerships (PPP) which aims to: a) provide an option for developing major infrastructure projects without compromising the Government’s indebtedness levels, b) encourage private investment and job creation, and c) strengthen Panama’s competitive position vis-à-vis other Latin American countries.

Advising Minera Panama, S.A. in the development of the US$6.4 Billion open-pit copper mining project Cobre Panamá, the biggest private sector investment in Panama history. Including, among others, the interconnection of a coal-fired power plant of installed capacity of 300MW that will supply the copper mine project.

Advising Metro de Panama, S.A. in connection with Line 1 and 2 of the Metro of Panama, the most important public infrastructure project under development in the Republic of Panama.

Advising Panama Ports Company, S.A. (member of Hutchinson Ports Holdings) in corporate matters related to the development and operation of the Balboa and Cristobal ports.

Advising Hidrotenencias, S.A. in connection with the sale of their stake in the company to EnfraGen Spain, S.A.

Advising the Hitachi, Ltd., Mitsubishi Corporation, and Ansaldo STS, S.p.A., in connection with an Agreement signed with Metro de Panamá, S.A. for the Line 3 of the Metro of Panama.

Advising The AES Corporation in the development and construction of the Changuinola I Project, a 223 MW run of the river hydroelectric plant developed in the province of Bocas del Toro, Republic of Panama. This project is one of the most important private investments in the country.

Advising Banistmo Investment Corporation, S.A. as holder of local collateral of several energy projects and the most recent being the Gas Natural Atlantico, S. de R.L. and Costa Norte LNG Terminal S. de R.L. LNG project, which is an approximately US$600 million financing.

Advising International Finance Corporation (IFC) who are currently advising Empresa de Transmisión Eléctrica, S.A. (ETESA) in the development and bidding of a project for the engineering design, procurement, construction, operation and maintenance of the fourth transmission line in the Republic of Panama.

Advising 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 Stock Exchange. 

Advising IDB Invest, a worldwide financial institution with presence in Latin America and the Caribbean region, in connection with a loan facility granted to Global Bank Corporation for an amount of up to US$60,000,000.00 (with an option for further supplements).

Advising First Transit of Panama Inc. in connection with a Consulting Services Agreement for the operation of the Metro Bus, the bus rapid system for Panama City.

Advising Electron Investment, S.A. in an arbitration process filed by Constructora Seli Panamá, S.A., before the International Chamber of Commerce.

Advising Hidroelectrica Bajos del Totuma on regulatory, contractual and environmental matters related to the development of Bajos del Totuma hydroelectric power station.

Advising International Finance Corporation (IFC) on regulatory, financing and contractual matters related to Penonomé II wind energy project.

Advising Thesan S.P.A. on regulatory, contractual, environmental and tax matters related to the photovoltaic system for generating electrical energy called “El Espinal” with an installed capacity of 8.5 MW.

Advising Farallon Nicaragua, a vertically integrated producer of farmed shrimp and a leading supplier of branded fresh-frozen shrimp to major markets in Asia Europe and the U.S., in connection with the sale of its business to Cooke Inc., a New Brunswick Canadian company and parent of Cooke Aquaculture Inc.

Advising Electron Investment on regulatory and tax matters related to the operation of Monte Lirio hydroelectric power station, as well as in processes of acquisition and compulsory easement before the National Authority on Public Services (ASEP).

Advising Grupo CABBSA in connection with the asset purchase acquisition of Soho Mall, by a consortium comprised of Mexican companies, i.e. by Grupo CAABSA and Grupo Citelis.

Advising Gaming & Services of Panama, S.A., a subsidiary in Panama of CIRSA - a multinational leader in the entertainment industry worldwide, in various regulatory issues related to its commercial activities in the Republic of Panama.

Advising Engie Solar in connection with the sale of its ownership in PanamaSolar2, S.A., to Latin Renewables Infrastructure Funds managed by Real Infrastructure Capital Partners.

Advising First Quantum Minerals Ltd., in connection with the offer of up to US$850,000,000.00 in aggregate principal amount of 6.500% senior notes due 2024 and up to US$1,000,000,000.00 in aggregate principal amount of 6.875% senior notes due 2026.

Advising Banco Inbursa, S.A., Institucion de Banca Multiple, as buyer in relation with a certain master agreement for the purchase and assignment of non-recourse credits through a revolving discount purchase facility for a value of US$ 415,000,000.00 of certain specific credit rights of Consorcio Linea 2 de Metro de Panama.

Advising MB Creditos, S.A., 100% subsidiary of Multibank, with respect to the financing of a credit facility agreement for an amount of up to US$ 17,030,000.00, granted by a syndicate of local banks in Panama, including MMG Bank Corp., BICSA, BBP Bank and Banco del Pacifico.

Advising AON Benfied, a division of the AON group specializing in the reinsurance sector, in various regulatory and corporate matters related to its operations in the Republic of Panama. 

Advising Morgan Stanley, Miami Branch, as creditors of loans secured by collateral on debtor investment accounts, mostly Panamanian companies with accounts in this bank. 

Advising Caterpillar Financial Services Corporation (CAT Financial) on the review of leasing contracts for the acquisition of heavy equipment used in the development of infrastructure projects in the Republic of Panama. 

Advising Mercantil Banco, S.A., a financial institution authorized by the Superintendency of Banks of the Republic of Panama, in the first stage of an important process of corporate reorganization of the bank at a regional level.

  • Accounting
  • Automotive
  • Aviation
  • Banking
  • Construction and materials
  • Consumer goods and services
  • Energy
  • Financial services
  • Fisheries and aquaculture
  • Food and beverage
  • Gaming
  • Government and public policy
  • Healthcare
  • Industrials
  • Insurance
  • Investment management
  • Media
  • Mining
  • Natural resources
  • Oil and gas
  • Pharm and life sciences
  • Real estate
  • Shipping
  • Social infrastructure
  • Tech and telecoms
  • Tourism
  • Transport
  • Utilities