Angara Abello Concepcion Regala & Cruz Law Offices ACCRALAW
Corporate & Special Projects
Public-Private Partnerships (PPP) and Privatization
The Firm has been involved in privatization, energy, and PPP projects, including acting as counsel for the International Finance Corporation in connection with the privatization of the Metropolitan Waterworks and Sewerage System, reputed to be the largest water privatization project in the world involving US$7 Billion. The Firm also assisted bidders in the privatization of several large companies in the Philippines and also acted as counsel for the buyer in the sale of the plant assets of the National Steel Corporation, the country's sale integrated steel manufacturer. Among the Firm's current clients are the Department of Education in connection with its PPP project for classroom construction and the operators of toll highways under build-operate-transfer arrangements.
Banking and Finance
Since the Firm's inception, it has been the retained counsel of most of the largest Philippine and foreign banks operating in the country. The Firm assisted some leading foreign banks in obtaining their full banking licenses under the law liberalizing the entry of foreign banks into the Philippines. Through the years, CSPD lawyers have acted as counsel in numerous syndicated loans and other financing arrangements, for lenders as well as borrowers, and have advised and assisted clients in numerous loan restructuring agreements and project finance transactions.
Proxy Contests, Intracorporate Disputes and Takeovers
In conjunction with the Litigation and Dispute Resolution Department (LDRD), the Firm's CSPD has been in the forefront of proxy contests and shareholder disputes involving the largest companies in the Philippines. The Firm is an acknowledged leader In the representation of clients in intracorporate disputes which are adjudicated by the regular courts.
Restructuring and Rehabilitation
In conjunction with the Firm's LDRD, CSPD lawyers have been active in the most significant restructuring, rehabilitation, and insolvency proceedings, including those involving Bayantel, Inc.; ASB Realty Corporation: Maynilad Water; Sergs Products, Inc.; First Dominion Group; Atlanta Land, Inc.; and the Ramcar Group of Companies.
Disposition and Management of Non-Performing Loans and Assets
The Firm has been retained by foreign funds, as well as local banks, in connection with the disposition of the non-performing loans and assets of financial institutions to retail buyers or special purpose asset management companies, whether under the Special Purpose Vehicle Act of 2002 or otherwise. The Firm has also assisted buyers and special purpose vehicles on the buy side of these transactions.
CSPD lawyers have assisted in the creation of the appropriate joint venture corporations and the preparation and review of pertinent bid documents, power purchase agreements, off-take agreements, operating and management agreements, financing agreements, and construction contracts required in the implementation of power projects. Its lawyers have participated in the bidding for service contracts under the Renewable Energy Law and have assisted clients in the establishment of joint ventures In geothermal energy projects.