• Regarding areas of economic activity subject to special governmental supervision and control, Mendoza, Palacios, Acedo, Borjas, Páez Pumar & Cía. has a long established reputation, which is especially strong in the fields of insurance and banking.
  • We count among our clients, several of the largest and also some medium sized insurance companies, banks and other financial institutions, as well as the National Banking Council, the Banking Association, and the Chamber of Insurers.
  • Our firm has prepared detailed studies of the banking regulatory frame, for our clients of that sector, many of which we represent before the Banking Superintendency.
  • We have participated in major project financings in Venezuela, as counsel to the bank lenders, syndicated in some cases, in oil and petrochemical projects (Hamaca, Petrozuata, Fertinitro, Profalca); mining (Loma de Níquel); telecommunications (Digitel); and in other important financings, such as the Smurfit Group, as well as the debt restructurings of Sidor and Ron Santa Teresa.
  • Also in the banking and finance area, it is important to state that we have specialized in the design and constitution of many security trusts to protect the lenders’ interests. The security trust designed by our attorneys for the 2000 Sidor debt restructuring was the first major security trust over project assets in a syndicated loan in Venezuela. The security trusts we designed for the Hamaca and Digitel operations are the first trusts of their kind in the oil and telecommunications sector.
  • We have actively participated within the insurance sector’s varied areas. We represent the Chamber of Insurers and several insurance and reinsurance companies and brokers. Our experts are regularly consulted by such Chamber, as well as by the Venezuelan Association of Insurance Law and by the staff of the Insurance Superintendency in order to lecture or write articles regarding matters of insurance law.
  • We have thoroughly studied, analyzed and reviewed the applicable regulatory regime of insurance companies. The Insurance and Reinsurance Decree-Law and the Insurance Agreement Decree-Law were the object of a very detailed previous analysis by our experts, in order to present to the Superintendency our observations as representatives of the Chamber of Insurers. After such decree-laws were enacted, we acted before the National Legislative Assembly and the Supreme Tribunal of Justice to present our objections, and those of the Chamber of Insurers, with respect to such decree-laws.

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Edificio “ABA”, Calle Veracruz, Urb. Las Mercedes, Caracas 1060 - Venezuela.
Telephones: (58) (212) 909 16 00 - 909 16 11 Fax: (58) (212) 993 1237 – 993 0035 – 992 3580