Raul R. Herrera concentrates on international matters, with particular emphasis in international corporate and financing transactions in Latin America and the Caribbean. For more than 25 years, he has been involved in transactions in every country of the region on behalf of a wide variety of clients, including private, public, and multilateral entities.
Mr. Herrera represents lenders (including multilateral and bilateral agencies, as well as commercial banks), host governments, and sponsors with the development and financing of projects and private equity funds across a wide range of industry sectors. He is knowledgeable of deal structures, procedural requirements and policy directives of agency lenders. With the depth of his regional experience, Mr. Herrera is often called to resolve client disputes throughout Latin America. Previously he served as the general counsel of the Inter-American Investment Corporation (IDB Invest), the private sector multilateral financial institution affiliated with the Inter-American Development Bank. In addition, Mr. Herrera has experience in international arbitration matters. He speaks Spanish and is conversant in Portuguese.
In 2017, Mr. Herrera served as Interim General Counsel and Legal Director of the Green Climate Fund at the organization's headquarters in the Republic of Korea while remaining a partner of the firm. He is a frequent speaker on such topics as project finance, international arbitration, and the economic development of and investment opportunities in Latin America and the Caribbean.
- The Dominican Republic, on Michael Ballantine et al. v. Dominican Republic, an investment arbitration in the real estate sector, under the Free Trade Agreement Dominican Republic–Central America (DR-CAFTA). The claims were dismissed on jurisdictional grounds.
- The Dominican Republic, on Corona Materials Inc. v. Dominican Republic, an investment arbitration in the mining sector, under the Free Trade Agreement Dominican Republic–Central America (DR-CAFTA), in relation to a claim of $100 million. All claims were fully dismissed.
- African Republic in the settlement of a $1 billion oil concession dispute before the Permanent Court of Arbitration and negotiation of a 40 million barrel oil concession agreement with an Asian state-owned oil company.
- Claimant in Karkey Karadeniz Elektrik Uretim A.S. v. Islamic Republic of Pakistan in an ICSID arbitration.
- International mining services company as claimant in an ICC matter against an African state for a $458 million breach of contract claim.
- Vietnamese company in an ICC claim against a US state university in a breach of contract claim involving extension education programs.
- Sovereign client as respondent before the ICC in a breach of contract claim filed by a Brazilian ethanol manufacturer which we successfully settled.
- Dominican Republic as respondent in Concesionaria Dominicana de Autopistas y Carreteras v. Dominican Republic in an ICC arbitration of $450 million based on a toll highway concession contract (and related claims filed under ICSID and UNCITRAL).
- Venezuelan hotel consortium in an International Centre for Dispute Resolution (ICDR) arbitration filed by a major US hotel operator which we successfully settled.
Capital Markets (2013-2015, 2018-2019, 2021)
Banking & Finance (2013, 2016-2018)
- JD, The George Washington University Law School, 1984
- BA, The George Washington University, 1981
- District of Columbia
- Member, Virginia State University Board of Visitors
- Chairman of the Board of Directors of Counterpart International; Board of Advisors of the Inter-American Dialogue's Energy Adviser and the GWU Law School's Latin Law Alumni Association; and member of the John Carroll Society.
- Member, Leadership Council, Global Women's Institute at The George Washington University, Washington, DC; and Member, Fondazione Centesimus Annus Pro Pontifice, Vatican City State
- Founding chair of the Board of Directors of CODESPA AMERICA; Board of the Inter-American Bar Association; Advisory Council of the Latin American Studies Program and the International Council of GWU's Elliott School of International Affairs; Advisory Council to the School Superintendent of the Catholic Diocese of Arlington; Chair of the Investment and Finance Committee of the DC Bar; Advisory Board of the Hispanic College Fund; member of the Advisory Committee, American Bar Association's Latin American Legal Initiatives Council, Council of the America's Trade Advisory Group, Latin American Regional Counsel Committee, International Bar Association, Latin American Venture Capital Association (LAVCA) and its Professional Standards Committee, Southern Florida Regional Corporate Counsel Group and of the Steering Committee of the Choral Arts Society's Martin Luther King Jr. Annual Tribute.
- Chairman of the International Law Section, Co-chair of the Continuing Legal Education & Plenaries Programs for its 2017 Corporate Council Conference in Miami, Florida