Arias, Fábrega & Fábrega acted as Panamanian counsel to (i) Corporativo Grupo R, S.A. de C.V. of Mexico; and (ii) a group of banks and lenders led by BBVA Bancomer, S.A., Institución de Banca Múltiple, Grupo Financiero BBVA Bancomer and WestLB AG, New York Branch, on the delivery by Daewoo Shipbuilding & Marine Engineering Co., Ltd., of the oil platform Bicentenario.

This is the final aspect of a multiphase program in which ARIFA assisted its clients.  In 2008, ARIFA assisted the lenders in the US$584 million financing for the construction of the platform, the registration of the platform under the special registry provided by Panama for vessels under construction, and the registration of a mortgage on the platform while under construction.  Since late 2009, ARIFA assisted the borrower and lenders with the registration of the platform as a seaworthy platform; the delivery of the platform by the shipyard and the update and registration of the mortgage and other documents to reflect that the platform had been completed.