One of this chapter’s more compact firms, Sanguinetti & Asociados has an impressive profile outside of the country largely due to name partner Eduardo Sanguinetti, who has successfully promoted the firm abroad. In 2016 he was appointed vice-chair of the International Bar Association’s Latin America committee, as well as being elected to the association’s legal practice division for a three-year term starting in 2017. Sanguinetti & Asociados’ international profile brings work to the firm, ensuring its lawyers remain busy even when Uruguay’s economic activity is slowing. The firm continues to pull in new clients, such as Portuguese construction group Mota-Engil and Spain’s Gonvarri Steel Services, both of which retained it in 2016.
There have been several partner departures from Sanguinetti & Asociados in the last few years, which have slimmed the firm’s service offering. However, its strong corporate and M&A and banking and finance practices help solidify this firm’s position in the legal market.
Sanguinetti & Asociados’ core clients include Dutch technology company Philips; Scotiabank; European clothing brand Bestseller; Dutch human resources consultants Randstad; and Argentine real estate developer IRSA.
Corporate and M&A
Key partners: Eduardo Sanguinetti, who is recommended in LACCA Approved, is described as having an effective and comprehensive approach to his work, as well as good judgement. Alfonsina Rosa is also noted for her corporate and M&A practice, with a client labelling her and Sanguinetti two of the best lawyers in Latin America.
Analysis: An important practice group for Sanguinetti & Asociados, the corporate and M&A department leverages this firm’s excellent international profile to work with big foreign clients, sometimes on cross-border, multijurisdictional deals. The group comes in for much praise from clients, an indication of the commitment and capability on offer here.
Banking & finance
Key partners: Eduardo Sanguinetti, Alfonsina Rosa and Héctor Scaianschi.
Analysis: This team has experience structuring complex financing transactions, including capital markets offerings and project financing agreements.
Key partners: Alfonsina Rosa and Eduardo Sanguinetti. Counsel Carlos Delpiazzo brings experience from public entities, including work with the Public Health Ministry.
Analysis: Sanguinetti & Asociados has experience in the regulatory aspects of large scale infrastructure projects and acquisitions in regulated industries.
Work highlights: The firm helped Scotiabank obtain clearance for its acquisition of Discount Bank, a deal that required a universal asset transfer agreement regulated by a rarely applied special law for the purchase of bank assets. The bank also turned to the firm to successfully submit a petition of payment to the stage guarantor of bankrupt airline Pluna. The firm advised Marubeni, a shareholder of GNLS, which had an agreement to construct an LNG regasification plant alongside state-owned Gas Sayago. The firm helped its client terminate the agreement after the project suffered delays as a consequence of the bankruptcy of OAS, a key subcontractor that is implicated in Brazil’s major corruption investigation.
Key partners: Héctor Scaianschi
Analysis: Sanguinetti & Asociados’ litigation practice packs a punch. It has particular experience steering clients through the disputes that often arise during messy restructurings.
Key partner: Eduardo Sanguinetti and Lissy Hernández.
Analysis: Sanguinetti & Asociados’ labour team has successfully managed union disputes and liability claims, watered down various collective bargaining agreements and racked-up considerable experience in the drafting of specialised labour protocols. In recent years, it has increased its attention on visa processing and demanding day-to-day work. One client says it chooses this firm because the team is “always ready to assist us and has good professional skills.” Another praises the team for their “quick response, high quality work and very good understanding of the situation, business and options.”
Work highlights: Human resources company Randstad is one of Sanguinetti & Asociados’ biggest customers for labour advice. The firm advises the Dutch client on all labour matters, including disputes, negotiations, judicial proceedings and regulatory compliance.
Analysis: Manos Unidas, an NGO dedicated to providing jobs to the unemployed and underprivileged, has been a beneficiary of the firm’s pro bono work in the past.