Sale of all assets and liquidation of Panama Fixed Income Fund

Arias, Fábrega & Fábrega acted as counsel to Banco General S.A., the largest Panamanian Bank, in the sale of all assets of Panama Fixed Income Fund, one of the largest investment funds administrated in Panama and holding mostly Panamanian assets, and its subsequent de-listing from the local stock exchange and de-registration from the local Securities and Exchange Commission.