Rafael Picasso is the head of Estudio Echecopar's Banking & Finance practice in Lima. He has participated in numerous company acquisitions and sale transactions including mergers and spin–off in Peru. Rafael has been recognized by Chambers & Partners for his work as one of the country's first generation of legal advisers focusing on bankruptcy. He also advises insurance and reinsurance companies and Pension Fund Administrators (AFOs) in their constitution and organization process.
Rafael has participated in takeovers and sales of Peruvian companies, including mergers and spin-offs. He has designed company restructuring strategies for both creditors and debtors, as well as advised on diverse types of company financing. Rafael's broad experience in capital markets includes advising on primary and secondary public tenders for short-term and long-term debt instruments, fixed and variable income shares and real estate securities, and related administrative sanctioning procedures.
Representative Legal Matters
- Advised Diviso Grupo Financiero establishing a new insurance company in Peru called Trevia Compañia de Seguros. The workload includes helping Diviso go through all the regulatory requirements and obtain a license to start operations from the Superintendence of Banking, Insurance and Pension Funds Administrators and the Capital Markets Superintendence.
- Acted as permanent counsel to Compañia de Seguros de Vida Camara on regulatory issues related to their operations as an insurance company in Peru. This involves corporate and regulatory advice, capital increases and decreases, transfer of shares (all which require previous authorization from the local regulatory authority).
- Provided advice to HDI Seguros and its shareholders in obtaining all pertinent authorizations from the local regulator in connection with the acquisition made by German insurer Talanx AG (Germany's third–largest insurer) of a majority stake in Chilean Inversiones Magallanes (which was the major shareholder of Aseguradora Magallanes Peru). This transaction marks also the entering of Talanx AG in the Peruvian market, as major shareholder of HDI Seguros.
- Advised MetLife in connection with a USD 41.8 million secured credit facility to Complejo Agroindustrial Beta. Proceeds of the loan were used to repay outstanding credit facilities granted by Banco Santander Peru and Santander Panama Bank and for working capital purposes.
- Advised a Dutch multinational banking and financial services company, as lender, in connection with a two tranche USD 22 million secured credit facility granted to Agricola Chapi. The loan is secured by mortgages over lands and machinery owned by Agricola Chapi in Ica, Peru.
- Advised the Republic of Peru in an international arbitration (the largest insolvency proceeding in several years in Peru) launched by a private, family–owned investment holding company (on April 2011).This arbitration, recently solved in favour of the Republic of Peru, included several bankruptcy matters (related to the causes of the bankruptcy and the participation of the Peruvian Government as a creditor in the insolvency proceeding).
Professional Associations and Memberships
- Lima Bar Association
- Peru (1987)
- Pontificia Universidad Católica del Perú (Law Degree) (1987)