Vicente Corta Fernández | White & Case LLP International Law Firm, Global Law Practice
 Vicente Corta Fernández
 Vicente Corta Fernández

Vicente Corta Fernández

Partner, Mexico City

T +52 55 5540 9602

T +52 55 5540 9600

E vcorta@whitecase.com

“Deep and valuable knowledge of all the authorities and agencies that are important to the banking business… [He] knows the industry better than anyone else and so his intervention and advice always makes a difference.”

The Legal 500, 2014

Overview

Vicente's practice focuses on the regulatory and transactional aspects of banking, project finance, securities and insolvency matters. His deep and wide-ranging knowledge enables him to offer clients comprehensive legal advice on a broad spectrum of complex financial issues.

The leader of the Firm's restructuring practice in Mexico, Vicente has a strong track record leading high-profile restructuring projects in an array of business sectors. Clients he has represented in this area praise his "particular strength in finding solutions to problems, which he does in a creative manner" (Chambers Latin America 2015).

Vicente also guides clients through technically complicated derivatives, asset finance and regulatory and compliance issues. Combining a highly focused and thorough approach with an ability to give clear and pragmatic advice, Vicente's advisory practice spans a broad variety of corporate, civil and mercantile matters. Such cases include his successful handling of a number of high-profile shareholder disputes in Mexico.

He also has an exceptionally strong track record in obtaining regulatory authorizations for the incorporation and consolidation of major Mexican financial entities, such as Mi Banco Autofin Mexico, Banco Wal-Mart de México Adelante, Banco Amigo, CIBanco, Bancrea, Banco Fácil (Consubanco), Principal Grupo Financiero, Afore Coppel, Scotia Afore and Investa Bank.

Vicente has developed a reputation as a staunch defender of his clients' interests, and is unfazed by even the most challenging of problems. He displayed these qualities during his distinguished service to his country, developing and implementing difficult yet vital reforms to key financial institutions.

At the request of Mexican President Vicente Fox, he became President of the National Commission for the Retirement Savings System (CONSAR) and implemented a comprehensive reform of the pension system's legal framework and a major overhaul of investment rules. As executive secretary for the government's Bank Savings Protection Institute (IPAB), he won international acclaim for leading the comprehensive overhaul of Mexico's banking system.

Vicente demonstrated a similarly committed approach in positions at the Ministry of Finance, where he was responsible for the legal aspects of the US emergency package to Mexico during the 1995 debt crisis, the restructuring of toll roads and the design of the "pidiregas" infrastructure projects.

The World Economic Forum named Vicente a Young Global Leader 2006, a distinction only two other Mexicans received that year.

Vicente has been a member or director on the boards of directors of numerous Mexican public sector financial entities, and has advised the World Bank and International Monetary Fund on international financial matters.

Bars and Courts

  • Authorized to practice law in Mexico

Education

  • Master of Laws, University of Warwick
  • Attorney at Law (Abogado), Universidad Iberoamericana

Languages

  • Spanish
  • English

Experience

Mexican Supreme Court Validates By-Laws of Grupo Aeroportuario del Pacífico, 2015

Vicente successfully represented Aeropuertos Mexicanos del Pacífico (AMP), the controlling entity of Grupo Aeroportuario del Pacífico (GAP) in a dispute against Grupo México regarding the validity of anti-takeover provisions contained in GAP's by-laws. GAP is a public company listed on both the Mexican and the New York Stock Exchanges that operates 12 airport concessions in Mexico. The validation is a historic decision by Mexico's judicial branch since it is the first time the Supreme Court has reviewed a case related to the application of the Stock Exchange Law (enacted in 2006).

Comisión Federal de Electricidad US$700 Million Notes Issuance and Offering, 2015

Vicente acted as Mexican counsel representing BBVA Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Goldman, Sachs & Co. as joint lead managers and joint bookrunners in the issuance and offering of US$700 million notes under Rule 144A and Regulation S of the US Securities Act of 1933 by Comisión Federal de Electricidad (CFE), the national electricity company of Mexico. CFE's bond issue was listed on the Luxembourg Stock Exchange and traded on the Euro MTF market by BBVA Securities Inc. The proceeds of the bond issue will be used by CFE for working capital and general corporate purposes in accordance with the Mexican laws and regulations.

Fibra Shop Establishment of Five-Year Long and Short Debt Program, Initial MXN 3 Bllion Debt, 2015

Vicente represented Fibra Shop, a Mexican real estate investment trustengaged in the acquisition and development of shopping malls across Mexico, in the establishment of a five-year long and short debt program, and the initial MXN 3 billion (approximately US$190 million) debt offering under the program consisting of debt trust certificates (CBs) , in a public offering in Mexico. The CBs have been listed on the Mexican Stock Exchange . The proceeds from the offering have been used primarily for the full prepayment of Fibra Shop's senior secured credit facility with BBVA Bancomer and Inbursa, resulting in the termination and release of all security interests created over Fibra Shop's main real estate properties under the credit facility. This successful transaction contributes to Fibra Shop's growth plans.

Ramones Phase II North and South Natural Gas Transportation System, 2015

Vicente represented BlackRock, the largest investment manager in the world, and First Reserve, the largest global private equity and infrastructure investment firm exclusively focused on energy, in their acquisition of 45 percent of each of: (i) TAG Pipelines Sur, a company incorporated as a joint venture between PEMEX and GDF Suez, and (ii) TAG Norte Holding, a company incorporated as a joint venture between PEMEX and Sempra’s Mexico unit (IEnova), which is currently developing the Ramones Phase II North Natural Gas Transportation System. Upon closing, this will be the first major PEMEX-sponsored midstream asset to be built in partnership with foreign capital since the approval of Mexico's historic Constitutional Energy Reform in 2013.

Urbi restructuring, 2015

Vicente is currently advising the steering committee in connection with the restructuring of Urbi, one of the three largest housing development companies in Mexico. This high-profile transaction poses a variety of complex obstacles, requiring sophisticated and innovative solutions.

Establishment of US/Mexico cross-border bridge, 2014

Vicente represented Otay-Tijuana Venture LLC, a conglomerate of US and Mexican investors, in an agreement with Grupo Aeroporturario del Pacífico, a publicly-held operator of major Mexican airports.

Afore Afirme Bajío MXN 212 million portfolio sale, 2014

Vicente represented Afore Afirme Bajío, S.A. de C.V., a Mexican pension fund manager, in the sale of its entire portfolio for MXN 212 million (US$16.3 million), to Profuturo G.N.P., S.A. de C.V. Afore, a subsidiary of Grupo GNP and the fourth largest fund manager in Mexico, based on assets under management.

Grupo Financiero Banorte global equity offering, 2014

Vicente led the team from the Firm's New York, São Paulo, Miami and Mexico City offices, which acted as international and Mexican counsel to Grupo Financiero Banorte S.A.B. de C.V. (GFNorte), the third largest financial services group in Mexico, in its record-breaking equity follow-on offering worth US$2.5 billion.

NAFTRAC exchange from CPOS to CBS, 2013

Vicente advised BlackRock, the world's largest asset manager, on the regulatory process required for the exchange of CPOs for Cebures (certificados bursátiles) representing Naftrac, one of the most liquid ETFs in the Mexican securities market.

Publications

  • "Consumer Protection," a chapter in "Commentaries on Financial Reform", Nacional Financiera, S.N.C. (NAFIN), 2014, According to Jaques Rogozinski, NAFIN's director, the book helps readers to better understand the financial changes presently being implemented in Mexico, and includes insights about these changes through perceptive analyses authored by lawyers focusing on financial issues.

Awards & Recognition

Leading Lawyer, Chambers Latin America 2015

Bankruptcy/Restructuring – Mexico

Leading Lawyer, Chambers Latin America 2015

Corporate/ M&A – Mexico

Leading Lawyer, Chambers Latin America 2015

Banking & Finance – Mexico

Leading Lawyer, Chambers Latin America 2015

Capital Markets – Mexico

Leading Lawyer, IFLR1000 2014

Banking and Finance

Leading Lawyer, The Legal 500 Latin America 2014

Banking & Finance, Corporate/M&A – Mexico