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Raul R. Herrera
Partner
Washington, DC
tel: +1 202.942.6601
fax: +1 202.942.5999

Raul.Herrera@aporter.com
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Practice Focus

Raul R. Herrera is a partner in the corporate and securities group where he concentrates his practice on international arbitration and international corporate and financing transactions throughout Latin America and the Caribbean. Mr. Herrera has been involved in financing transactions in every country of Latin America and the Caribbean. He represents multilateral and bilateral agencies in their project financing and private equity transactions.

Mr. Herrera previously served as general counsel for Inter-American Investment Corporation, a multilateral financial institution affiliated with the Inter-American Development Bank. His experience includes cross-border corporate and capital market transactions, comprising start-up de novo entities, asset and securities purchases, and expansion and acquisition transactions in a wide variety of industry sectors.

Mr. Herrera is active with The George Washington University Elliott School of International Affairs, serving as a Member of the Executive Committee of its International Council and Chair of the Advisory Council and External Review Group for its Latin American Studies Program. He serves on the Board of Advisors of the Inter-American Dialogue's Energy Adviser, and the Catholic Diocese of Arlington, and of the Catholic Charities Hispanic Catholic Center.

He served on the board of directors of the Inter-American Bar Association, and the Inter-American Bar Foundation, as Chair of the Investment and Finance Committee of the DC Bar, on the advisory board of the Hispanic College Fund, as a member of the Southern Florida Regional Corporate Counsel Group, and the Steering Committee for the Choral Arts Society's Martin Luther King Jr. Annual Tribute in Washington, DC.

Mr. Herrera is a frequent speaker on such topics as project finance, corporate governance, international arbitration, the WTO, and the economic development of and investment opportunities in Latin America and the Caribbean. 

He speaks fluent English and Spanish, and is conversant in Portuguese.

Representative Matters

  • Representing Mahmood Saeed Collective Company (MSCC) of Saudi Arabia in a US$59.8 million term loan financing from the US Export-Import Bank to expand its aluminum can manufacturing facility in Jeddah. This represented the first-ever Ex-Im Bank direct loan to a private company in the Kingdom of Saudi Arabia.
  • Representing the Caribbean Development Bank (CDB) in its US$120 million issue of floating-rate notes, maturing in 2012, for which UBS arranged the offering.
  • Representing FMO, the Dutch bilateral development agency, in its senior term-loan financing to Bolivia's Banco Sol, S.A., for its on-lending to small and medium-sized enterprises operating in Bolivia.
  • Representing Chile's Compañía General de Electricidad (CGE) in its term loan financing from Banco Santander for the acquisition of Spanish utility company Iberdrola's controlling stake in Chilean hydroelectricity company, Iberoamericana de Energía S.A. (Ibener).
  • Representing the CDB in its term loan to the Corporación Interamericana para el Financiamiento de Infraestructura (CIFI) to finance infrastructure projects throughout the Caribbean.
  • Representing a geothermal development company in the development and financing of a geothermal power project in the Caribbean, including the negotiation of the interconnection, land use and equipment supply agreements.
  • Representing a sovereign client in a contractual dispute in an International Chamber of Commerce (ICC) arbitration against an ethanol manufacturer in an alleged breach of contract claim.
  • Representing a private Panamanian financial institution in an international litigation against a global commercial bank in an alleged breach of contract claim.
  • Representing the Dominican Republic in three international arbitrations (before ICC, ICSID and UNCITRAL) regarding alleged breaches of a concession agreement and international investment treaties.
  • Representing Televisa's wholly-owned subsidiary, Innova S.A., in an eight-country merger and acquisition transaction, the first regional expansion for Innova outside of Mexico, to acquire DirecTv's satellite pay-for-television concession operations in the Dominican Republic, Panama, Belize, El Salvador, Honduras, Guatemala, Nicaragua, and Costa Rica.
  • Representing the Chilean power company CGE in a US$517 million cross-border financing transaction funded by Banco Bilbao Vizcaya Argentaria ("BBVA"), for the US$660 million acquisition from PPL Chile Energía Limitada of all the outstanding shares of Empresas EMEL S.A. through a tender offer process on the Chilean Stock Exchange. With this transaction, CGE is now the largest electricity distributor in Chile.
  • Representing and successfully defending the Republic of Ecuador and its state-run oil company, PetroEcuador, on a request for a permanent stay of an AAA arbitration in the US Southern District Court of New York (on summary judgment).
  • Representing the Republic of Ecuador and its state-run oil company, PetroEcuador, on the Circuit Court appeal of the US Southern District Court of New York's decision on summary judgment granting permanent stay of a American Arbitration Association (AAA) arbitration.
  • Representing a private Venezuelan hotel consortium in an International Centre for Dispute Resolution (ICDR) arbitration against a major multinational hotel chain in an alleged breach of contract claim.

Awards

The Inter-American Bar Association awarded Mr. Herrera the Charles B. Norberg International Lawyer of the Year Award for 2004

Rankings

Included in Global Arbitration Review 100 (2010 Edition) "Names to Know"

Washingtonian's "Top Lawyers" 2009 for International Law

Euromoney's Guide to the World's Leading Lawyers 2009: included as an Expert in Project Finance

Professional and Community Activities

Professional Activity

  • Serves as American Bar Association liaison to the Inter-American Bar Association

  • Co-Chair, Investment and Development Committee, American Bar Association's Section of International Law

  • Member, Advisory Committee, American Bar Association's Latin American Legal Initiatives Council

  • Member, Council of the America's Trade Advisory Group

  • Member, Latin American Regional Counsel Committee, International Bar Association

  • Founding Member of the Latin American Venture Capital Association (LAVCA) and its Professional Standards Committee

Presentations

Raul R. Herrera. "New Trade Relations: The Central America and European Union Trade Agreement." Inter-American Bar Association and Costa Rican Bar Association with the Minister of Commerce and Trade of Costa Rica, Anabel Gonzalez in San Jose, Costa Rica, October 14, 2010.
Raul R. Herrera. "Future Prospects for Trade and Investment for Latin America: A look at Latin America's Changing Role in a World Recovering from an Economic Recession." Latin Trade's Roundtable with CAF President and CEO Enrique García during the Inter-American Development Bank's Annual Governors Meeting in Cancun, Mexico, March 2010.
Raul R. Herrera. "Report on current practices, legislation and case law." Speaker, ICC 7th Annual Miami Conference, Miami, FL, November 2, 2009.
Raul R. Herrera. "Hot Trends in International Practice." Speaker, American University Law School, Washington, DC, September 23, 2009.
Raul R. Herrera. "Latin America Practices." Latin Lawyer Roundtable, Washington, DC, April 14, 2009.
Raul R. Herrera. "International Commercial Arbitration in the Americas: Procedural, Evidentiary, and Current Issues." Inter-American Bar Association (IABA) in cooperation with the International Centre for Dispute Resolution (ICDR) of the American Arbitration Association (AAA) and the Inter-American Commercial Arbitration Commission Conference at American University Washington College of Law, Washington, DC, March 4, 2009.
Raul R. Herrera. "The Surge of Investment Disputes in Latin America." Inter-American Legal Affairs Committee and the International Dispute Resolution Committee of the International Law Section Roundtable, Washington, DC, February 17, 2009.
Raul R. Herrera. "The Art of Follow-up." Arnold & Porter LLP, Washington, DC, January 7, 2009.
Raul R. Herrera. "Dealing with Latin American Sovereigns in International Arbitration matters." Speaker, Inter-American Bar Association, Washington, DC, November 21, 2008.
Raul R. Herrera. "International & Bilateral Arbitration Issues in Bogota, Colombia." Speaker, Bogota Chamber of Commerce Conference, Bogota, Colombia, October 2, 2008.
Raul R. Herrera. "Revisiting Bilateral Investment Treaties." Speaker, Federation of Industries of Sao Paulo and the ABCI Institute Conference, Sao Paulo, Brazil, September 25, 2008.
Raul R. Herrera. "Policy Forum on Latin America." Speaker, hosted by the Inter-American Economic Council featuring senior members of the Latin American Policy Team of the Obama Administration, Members of Congress and ten Ambassadors from Latin America, Democratic National Convention, Denver, CO, August 26, 2008.
Raul R. Herrera. "Mercosur Summit." Speaker, Inter-American Economic Council Program, Montevideo, Uruguay, May 29, 2008.
Raul R. Herrera. "Project Finance Seminar under International Law." Speaker, BanColombia Banca de Inversión, Bogota, Colombia, May 20, 2008.
Raul R. Herrera. "Trade and Investment - Panama." Inter-American Economic Council (“IAEC”) Annual Business Roundtable at the OAS General Assembly meeting, Panama, Republic of Panama, June 1, 2007.
Raul R. Herrera. "Banco del Sur Initiative." IAEC Annual Business Roundtable at the Caribbean Development Bank’s Annual Meeting of Governors, Caracas, Venezuela, May 30, 2007.
Raul R. Herrera. "Legal Framework for Financing Bio-Fuel's Projects." Inaugural Inter-American Bio-Fuel Congress, Buenos Aires, Argentina, May 11, 2007.
Raul R. Herrera. "Implications of The Banco del Sur Initiative." Speaker, IAEC 2007 Forum of the Americas, Cartagena, Colombia, April 12, 2007.
Raul R. Herrera. "Doing Business in Mexico Conference: Energy." Co-Chair and Speaker, Atlas, Cabos San Lucas, Mexico, 2006.
Raul R. Herrera. "The Sarbanes Oxley Tango: Does the Cost of Compliance Pay Dividends for Latin Issuers." Speaker and Business Roundtable Moderator, IAEC Annual Business Roundtable at the Organization of American States (“OAS”) General Assembly Meeting, Santo Domingo, Dominican Republic, 2006.
Raul R. Herrera. "Interest of Foreign Investors in Latin American Companies." Speaker, Colombian Stock Exchange Annual Corporate Governance Congress, Cartagena, Colombia, 2006.
Raul R. Herrera. "Investment & Trade in Latin America: How Risks Could Turn Into Opportunity." Speaker and Business Roundtable Moderator, IAEC Annual Business Roundtable at the OAS General Assembly Meeting, Ft. Lauderdale, FL, 2005.
Raul R. Herrera. "Doing Business in Latin America." Speaker and Panel Moderator, Inter-American Bar Association (“IABA”) Annual Council Meeting, Washington, DC, 2005.
Raul R. Herrera. "Transactional Outlook for 2004 in Latin America." IABA, Washington, D.C., 2004.
Raul R. Herrera. "Investment Opportunities in the Countries of the Organization of East Caribbean States." Speaker and Panel Moderator, IAEC Congressional Caribbean Caucus Business Roundtable, St. Lucia and Antigua, 2004.
Raul R. Herrera. "Financing Low-cost Energy Resources." Speaker and Panel Moderator, IAEC Annual Business Roundtable at the OAS General Assembly Meeting, Quito, Ecuador, 2004.
Raul R. Herrera. "Investing in Emerging Markets." Speaker, Horwath Int'l Annual Meeting, Casa de Campo, Dominican Republic, 2004.
Raul R. Herrera. "Infrastructure Financing on a Level Playing Field." Speaker and Panel Moderator, Business Roundtable, Ibero-American Summit of the Heads of States and King of Spain ("Ibero-American Summit"), San Jose, Costa Rica, 2004.
Raul R. Herrera. "Investment Climate in Latin America." CNN News en Espanol Business and Finance, Global Broadcast Interview by Alberto Padilla, September 9, 2003.
Raul R. Herrera. "Corporate Governance in Public Utilities in Latin America." IBA Annual Meeting, San Francisco, CA, 2003.
Raul R. Herrera. "Recommended Strategies in Anticipation of the FTAA Ministerial Summit in Miami, Florida." Meeting of Ministers of Commercial Trade and Commerce of the Countries of the Andean Region, Atlanta, GA, 2003.
Raul R. Herrera. "Summit of the Free Trade Agreement of the Americas ("FTAA") America's Business Forum ("ABF")." Chair of the Investments Workshop of the ABF Technical Committee, Miami, Fl, 2003.
Raul R. Herrera. "Public-Private Partnerships in Latin America" and "Investment Prospects in the Andean Region." Speaker and Panel Moderator, Business Roundtable, Ibero-American Summit, Santa Cruz de la Sierra, Bolivia, 2003.
Raul R. Herrera. "Investment Opportunities in the Countries of the Andean Region." Speaker and Panel Moderator, IAEC Annual Business Roundtable at the OAS General Assembly Meeting, Santiago, Chile, 2003.
Raul R. Herrera. "International Private Equity Investment Funds: The Role of Multilateral Financial Institutions in Financing and Structuring International Investment Funds." ABA Section of International Law and Practice Spring Meeting, New York City, 2002.
Raul R. Herrera. "Furthering Tourism and Economic Development through Project Finance." Speaker and Panel Moderator, IAEC Business Roundtable at the OAS General Assembly Meeting, Bridgetown, Barbados, 2002.
Raul R. Herrera. "Improving the Legal and Regulatory Framework: What Changes Mean for Investors." Speaker and Panel Moderator, Latin America Investors Summit at the Annual Meetings of World Bank/IMF, Washington, D.C., 2002.
Raul R. Herrera. "Doing Business in Latin America Under a Changing Economic Environment." American Corporate Counsel Association ("ACCA") Annual Meeting, Washington, D.C., 2002.
Raul R. Herrera. "Practicing International Law at a Multilateral Financial Institution." GWU ESIA Alumni Association, Distinguished Alumni Seminar, 2000.
Raul R. Herrera. "A Practitioner's Views of Comparative Legal Systems: Practicing within Civil vs. Common Laws." Association of the Bar of the City of New York, 2000.
Raul R. Herrera. "The Role of the IIC in Project Finance Transactions." IABA, Washington, D.C., 2000.
Raul R. Herrera. "Latin America at the Turn of the Century: The Multilateral Approaches to Corruption." South Florida Regional Corporate Counsel Group Annual Meeting, Miami, FL, 1999.
Raul R. Herrera. "Managing Local Counsel throughout the Region." IBA Second South American Regional Meeting, Caracas, Venezuela, 1999.
Raul R. Herrera. "The Next Step in Development - Promoting Entrepreneurship through Equity Investments: Legal Issues in Structuring Equity Deals." Inter-American Development Bank ("IDB") Conference, Washington, DC, 1998.
Raul R. Herrera. "The Role of U.S. Banks in Latin America's Development: IIC's Co-financing Program." Luncheon Speaker, ABA Business Law Section's Banking Law Committee, Charlotte, NC, 1998.
Raul R. Herrera. "International Project Finance Negotiations Seminar." American University Washington College of Law, Washington, D.C., 1998.
Raul R. Herrera. "Selecting the Infrastructure Project Company." IBA Section of Project Finance, Rio de Janeiro, Brazil, 1998.
Raul R. Herrera. "Capital Markets Financing for Infrastructure Projects" and "Structuring Debt and Equity Financing in the Mining, Oil and Gas Sectors." IABA Annual Meeting, Lima, Peru, 1998.
Raul R. Herrera. "The Brazil Summit: Navigating in the Current Regulatory and Business Environment in Brazil." World Economic Development Congress at the Annual Meetings of World Bank/IMF, Washington, D.C., 1998.
Raul R. Herrera. "Financing Infrastructure Projects in Local Currency." Panel Chair, IDB Conference, Washington, DC, 1997.
Raul R. Herrera. "Privatization and Project Finance in Latin America: Capital Markets Financing for Infrastructure." ABA Section of International Law and Practice Winter Meeting, Miami, FL, 1997.
Raul R. Herrera. "Private Sector Financings in Latin America." IABA Meeting, Washington, DC, 1996.
Raul R. Herrera. "D{ Annual Conference on Doing Business in Latin America: Non-recourse Project Financing Transactions." Florida Bar Association, Miami, FL, 1996.
Raul R. Herrera. "U.S.-Argentina Legal Seminar on Securities and Finance." U.S. Department of Commerce and Argentine Ministry of Finance, Buenos Aires, Argentina, 1996.
Raul R. Herrera. "Understanding Cross-border Commercial Transactions." Maricopa County Bar Association, Phoenix, AZ, 1996.
Raul R. Herrera. "The Central American Central Depository and Clearing and Settlements Project Initiative." Keynote Speaker, Comision Nacional de Valores (Panama SEC) 25th Anniversary Celebration, Panama City, Panama, 1995.
Raul R. Herrera. "Private Sector Investments in Haiti." Hispanic National Bar Association Annual Meeting, Puerto Rico, 1995.
Raul R. Herrera. "The Private Sector in Latin America and the Caribbean." IABA Annual Meeting, Quito, Ecuador, 1995.
Raul R. Herrera. "Private Placements: Understanding Market Opportunities." Euromoney Institute Conference, Miami, FL, 1995.
Raul R. Herrera. "International Comparisons in Infrastructure Finance: The Philippines Local Credit Finance." Public Securities Association, Washington, DC, 1993.
Raul R. Herrera. "Doing Business in the Americas." Canadian Exporters Development Association Conference, University of Ottawa, Ottawa, Canada, 1992.
Raul R. Herrera. "Negotiating the Sale of Failed Banks." Federal Deposit Insurance Corporation Legal Division Conference, Washington, DC, 1990.
Raul R. Herrera. "Using Loan Participations to Finance Large Commercial Real Estate Projects." GWU Law School Course on Property Law, Washington, D.C., 1989-1990.
Raul R. Herrera. "Understanding Loan Participations and Other Inter-Lender Agreements." Banking Law Institute and Bank Lending Institute, New York, NY, 1988 - 1989.
Raul R. Herrera. "Loan Participations and Syndications." Federal Home Loan Bank Board Office of General Counsel Conference, Washington, D.C., 1987 - 1988.
Practice Areas
Corporate and Securities »
International Arbitration »
Education
JD, George Washington University Law School, 1984
BA, George Washington University, 1981
Admissions
District of Columbia