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GAR 100 - 5th Edition


05 March 2012

The firm has disputes about derivatives products on its mind.

People in Who’s Who:
Pending cases as counsel:
Value of pending counsel work:
US$134 million
Treaty cases:
Current arbitrator appointments:
10 (of which 3 are as sole or chair)
No. of lawyers sitting as arbitrator:

José Pedro Pérez-Llorca was one of seven drafters of Spain’s 1978 constitution. Five years later, having retired from politics, he founded Pérez-Llorca. The firm has grown over the years and now provides advice to prominent financial institutions, listed companies and numerous foreign law firms.

The arbitration group has flourished since it got going at around the turn of the millennium, when David Arias joined. He and José Pérez-Llorca are now regularly appointed as arbitrators. In 2004, Félix Montero joined from Cremades y Asociados, followed a year later by Guillermina Ester from Jones Day. The team focuses on both international commercial arbitration and domestic dispute resolution.


Pérez-Llorca runs its arbitration practice out of Madrid and, since 2010, Barcelona.

Who uses it?

Numerous household names, including Ahorro Corporación, Altadis (Imperial Tobacco), Barclays Bank, BBVA, Banco Pastor, Banco Popular, ING Real Estate, Isolux Corsán, Klecar, La Caixa and Motorola.

Gas Natural, Spain’s largest utility company, is a regular client, as is Técnicas Reunidas, a listed Spanish company active in energy projects.

The firm is particularly active in arbitrations conducted under ICC rules. It is advising an Israeli company on its claim against a Spanish engineering group over an alleged breach of contract. And the team is counselling a Spanish company in a dispute over a price adjustment during the sale of a cinema.

Track record

2010 saw Pérez-Llorca prevail in an arbitration between two leading domestic energy distributors. The dispute, over a supply contract, was worth more than US$200 million and required expert testimony from four of the country’s leading scholars on civil and procedural law.

Recent news

Home-grown specialist Eduardo Villellas was rewarded with a promotion to partner in 2011. Villellas heads the firm’s litigation and arbitration practice in Barcelona, which gained full-time status in 2010. The arbitration group continues to seek additional members and is now considering lateral hires of foreign-qualified lawyers.

After a busy 2010, the firm recently started five derivatives-related arbitrations on behalf of a major Spanish financial institution. The firm says derivatives litigation and arbitration is starting to comprise the most significant portion of its work. At present, Pérez-Llorca is advising three domestic financial institutions in the area.

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