Hello All, You should find the following article (from chambersandpartneres.com) regarding William's choices of law firm and partner quite reassuring... The article below gives a review of some of the companies in the mining sector of Chile. Notice last paragraph in bold, regarding the specialty of MMTE's law firm, Philippi, Yrarrazaval, Pulido & Brunner. As well as the gentleman mentioned at the end in red.. Juan Paulo is the 1% owner of CLIL ... William does know what he is doing friends...look who is on his team... two powerhouses, Colson and Juan Paulo. It will happen, patience is key here.
Dots are connecting very nicely.. I have much confidence 4th quarter is going to be fantastic.....
Projects: Chile
Band 1Carey y CíaClaro y CíaMolina, Ríos AbogadosPhilippi, Yrarrázaval, Pulido & Brunner
Band 2Baker & McKenzieBarros & Errázuriz AbogadosBofill Mir & Alvarez Jana AbogadosCariola Díez Pérez-Cotapos & CíaChadwick & Cía.Morales & BesaPrieto y Cía
Band 3Arteaga Gorziglia & Cia AbogadosGuerrero, Olivos, Novoa y ErrázurizLarrain y AsociadosNoguera, Larrain & Dulanto
Other Notable Practitioners
Chile : Projects
Contributed by Molina, Ríos Abogados
In recent years, there have been several issues which have directly influenced developments in the engineering and construction projects industry in Chile. These include an earthquake of most severe proportions; a new coalition government and two incidents which raised strong concerns over the safety of working conditions and existing infrastructure in this country, i.e., the accident in the San José mine which trapped 33 miners and the fire at San Miguel prison. It is necessary to highlight the need to invest in power generation sources and in mining exploration, as well as the need to make advancements in other areas, such as environmental conservation, which have a direct effect on the development of new projects.
Earthquake in February 2010
In late February 2010, the central area of Chile was hit, first by a severe earthquake (registering 8.8 on the Richter scale), and secondly by a tsunami. Together these disasters resulted in enormous human casualties and tested both the planning and construction of our country’s buildings and infrastructure. Although they weathered both natural disasters reasonably well, it quickly became apparent that it would be necessary to examine which changes or improvements should be made to the infrastructure of a country that regularly experiences large-scale earthquakes and tidal waves.
These incidents took place over the last few weeks of the outgoing administration and required the new authorities to amend the proposed plans. It was understood that the following issues needed to be addressed:
- It was necessary to take urgent measures to reconstruct the country’s most important buildings and infrastructure. From a legal point of view, this has led to the implementation of emergency measures to expedite the contracting and execution of construction or demolition works. Although these fit into our legal framework, they are governed by special emergency regulations, which permit the allocation of resources and the implementation of exceptional legal procedures, as and when required. As long as adequate information and advice on participating in these types of projects is available, this could prove an important factor in boosting investment opportunities in Chile.
- It was necessary to amend the regulations on construction. Initially this will only affect technical aspects, or regulatory order, calculation and construction norms. However, this does not preclude later amendments , such as those which update legal regulations, enabling international constructors to enter the market. Moreover, investigations are being carried out to amend regulations on designing new cities and infrastructure, particularly in relation to those coastal areas that were worst affected. These amendments will help mitigate the potential damage inflicted on urban areas by similar natural disasters.
- Private entities have put in place several processes in order to determine where to attribute the ultimate responsibility for some of the collapsed buildings which failed to resist the earthquake. These processes have duly increased the demand for legal services.
- Lastly, both the process of liquidation and the determination of damages associated with incidents covered by insurance policies are currently being finalised. It is thought that this will lead to related judicial disputes between the insured parties and the international insurance and reinsurance companies.
The Inauguration of Sebastián Piñera’s Government
- The new administration assumed its duties on 11 March 2010, only a matter of weeks after the earthquake, and immediately made several announcements regarding construction matters to be implemented during its term in office. One announcement sparked particular interest: new projects would be subject to public bids through the public works concessions system and improvements to existing projects would be introduced for an aggregate value of USD8 billion over the new government’s four-year term(2010-2014). This means almost doubling the amount so far invested in this area since the beginning of the 1990s, when improvements to infrastructure were first implemented through the public works concessions system.
- Since 1995, infrastructure concessions have really taken off as a result of legislative amendments to ensure that investors involved in project finance execute their projects according to the relevant contracted terms. This has also been made possible due to the implementation of an agile and reliable system to resolve disputes. This facilitated the bidding for several highways and was followed by the introduction of an extensive portfolio of projects, including road projects (either of a secondary or regional nature), ports, airports, dams, public buildings, etc.
By the middle of the 1990s, legislation on concessions, which had previously been very simplistic and provided many guarantees for attracting foreign investment, had come under greater scrutiny since the area had developed extensively both in Chile and abroad. The legislation for concessions was modernised and introduced significant changes in relation to the qualification of projects, their modification and dispute resolution. This legislation was only applicable to new projects and involves additional legal and technical aspects, which pose greater restrictions on the approval and modification of projects. It also grants greater powers to the bidding entity when facing conflict with the concessionaire of the project.
Safety: the case of los 33.
- In 2010, an accident in a mine in the north of Chile captured worldwide attention. Defects in the mine’s operation led to 33 miners becoming trapped underground for a significant period of time. Fortunately they were rescued by the felicitous actions of both the authorities and technicians. Shortly after, a number of people died in a fire at a penitentiary facility in San Miguel. The fire broke out during an internal conflict and was not put out in time due to inadequate infrastructure and overcrowding in the facility.
These two incidents have triggered, or rather accelerated, a review process to modernise legislation governing safety procedures in the construction sector. In this manner, it is expected that significant legislative and regulatory changes will be made to increase both the requirements and also presumably the cost of executing projects.
Energy, mining and environment.
- In Chile, there are currently plans to develop several electric power projects, including hydroelectric and thermal power stations, as well as “cleaner” projects such as wind farms and geothermal plants. The development of these new types of project has led to numerous legislative amendments. It is expected that this will continue as legislation continues to adjust to the ever-changing power needs of this country.
- The mining sector itself has experienced extraordinary growth, partly due to the high trading price for copper on the international markets. This has given renewed momentum to several mining projects and corresponding civil works.
- Several changes have been made in order to ensure that the execution and operation of existing projects complies with both Chilean and international environmental quality regulations: the government body was modified and the Ministry of the Environment was established. The latter will improve the co-ordination of all parties involved in these processes. In tandem with the Superintendency of the Environment, it will oversee compliance with environmental regulations for approved projects and will issue sanctions, when applicable.
Legislation for Engineering and Construction Projects
Construction in Chile is not regulated organically, but rather it is governed by several legal and regulatory regulations, pertaining to issues that are specific to each sector. In this manner, the Civil Code provides certain general parameters, which enable regulations to be applied according to the particular requirements of the given sector i.e. on the one hand there are regulations for the construction of public infrastructure, whether by the State or through concessions; for the urbanisation and construction of houses or apartments; and on the other hand, labour and social security regulations that impose safety regulations related to the execution of the projects. It is therefore necessary to consult individuals and organisations with recognised experience and particular expertise in the construction sector when entities are considering making investments in this sector in Chile.
- As mentioned above, our legislation does not establish modern regulations for the construction of private infrastructure, nor for regulating the actions of private entities while executing public infrastructure projects. Thus it is a field that is based on forms of regulation and contracting which are commonly accepted by comparative law. In the same manner, the existing process for dispute resolution is antiquated and inefficient and does not allow for the necessary legal precision demanded by large-scale projects. In the private sector, private entities generally submit these matters to specialised arbitral tribunals, which conduct less time-consuming proceedings.
- Lastly we come to project finance. In terms of the financial sector, our legal system has established structures through which funds are distributed to develop construction projects and to acquire housing and other construction works. However, when it comes to infrastructure, legislation has been largely modernised, particularly in relation to projects executed through the public works concessions system. As a result, a series of resolutions and financial instruments have been introduced to facilitate the development of large-scale projects with low-risk indexes that may be developed with either national or foreign capital. Consequently, this country now has the capacity to develop the types of projects which have been traditionally associated with more developed countries.
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Projects: Chile
1Carey y Cía
Chile's largest firm has the capacity to handle large and complex projects. It covers all practice areas, is particularly strong in mining, finance and M&A, and is renowned for its ability to build multidisciplinary teams. It is representing a major international conglomerate in the development and financing of a tourism and entertainment project in Chile, which includes the largest casino in South America, a 140-room five-star hotel and a commercial and entertainment centre. Rafael Vergara is widely regarded as a safe pair of hands for any project. Juan Francisco Mackenna is admired for the “quality of his work and considerable experience in electricity projects.” Project finance partner Juan Guillermo Levine is "excellent from both a legal and business point of view," according to clients, who also say: “He has a global approach to the interests of our company and provides considered and timely analysis of our projects.” Partner Oscar Aitken complements the team with his expertise in engineering and construction.
1Claro y Cía
This well-established full-service firm is widely recognised for its project finance strength and is particularly active in the energy sector. The team regularly acts for lenders, borrowers and guarantors, recently assisting KfW with the loan agreement for the additional financing for the construction and operation of a 165 MW thermoelectric generation plant by Central Termoeléctrica Andina, a subsidiary of SUEZ Energy. Jorge Martín is "a creative and flexible lawyer with whom it is possible to explore new alternatives." Rodrigo Ochagavía has extensive experience in banking and finance and is "a practical lawyer with sound negotiation skills and a clear understanding of clients' needs."
1Molina, Ríos Abogados
This compact firm is heavily focused on infrastructure and construction projects. The team advises on all corporate, finance, litigation and regulatory aspects, and handles projects from inception to completion. One client said: “The team is absolutely committed to each project – we think of Molina Ríos as our in-house lawyers.” Recent highlights include the construction of the La Higuera hydroelectric power station and of the international road 60 CH from Chile to Argentina, both of which had an estimated investment of USD300 million. Victor Ríos Salas takes the helm on many of the team’s deals, and clients praise his “experience, availability and great attitude.”
1Philippi, Yrarrázaval, Pulido & Brunner
This full-service powerhouse is strong in all practice areas required on a project, particularly finance, corporate and M&A, natural resources, environment, labour and tax. The firm has the resources and expertise to field projects teams capable of handling the biggest, most challenging matters. Clients particularly highlight the firm’s “hands-on participation and down-to-earth advice.” The team assisted a syndicate of ten foreign banks with the USD1.05 billion project financing of Antofagasta's Esperanza project and the USD546 million project financing for the development of the Chacayes hydroelectric plant, owned by Australian group Pacific Hydro. Marcelo Armas is "a specialist in project finance, highly technical and extremely pleasant to work with." Juan Paulo Bambach is a major force in the market for mining projects.
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