David Ernesto Claros Flores

Practice Areas

David Claros is Senior Associate of García & Bodán and a member of the Corporate and Transactional, Labor and Banking and Financial practices in El Salvador.

Throughout his professional experience, he has participated in important transactions for renowed companies around the world, focusing on corporate and labor law, loan structuring, financial and insurance regulatory issues. He has advised medium and large companies, as well as business associations, on compliance with legal standards to combat money laundering.

He is member and volunteer for various committees and trade associations, in which he participates actively, from where international trade, private companies’ rights, young entrepreneurs’ development, and the study of Law and democracy are promoted, to strengthen the rule of Law.

He has participated in several seminars offered by local and foreign institutions; experiences that helped him develop all the necessary abilities to become an excellent professional.

Practices areas:

- Corporate-Commercial

- Transactional

- Mergers and Acquisitions

- Purchases and Contracting of Goods and Services

- Trusts

- Anti-Trust

- Free Zones

- Banking

- Finance

- Aeronautic

- Non-governmental Organizations

- Immigration

- Social Security

- Labor

Professional Memberships

- Member of the Labor Committee of the American Chamber of Commerce of El Salvador (AmCham).

- Former Vice President of the Board of the Brazilian Chamber of Commerce of El Salvador.

- Former Chairman of the Advisory Committee of Young Entrepreneurs and Professionals Chamber of Commerce and Industry of El Salvador (CCIES).

- Former member of the Young Leadership Committee of the American Chamber of Commerce of El Salvador (AmCham).

- Former member of the Centre for Legal Studies of El Salvador (CEJ) and member of the Committee on Legal Affairs.

Publications

- Contribution for the World Justice Project Rule of Law Index, 2015-2020.

- Contribution in Annual Report of World Bank and the International Finance Corporation “Doing Business”, 2009, 2012-2019.

- Contribution with El Salvador section of the Baker & McKenzie´s publication “International Agency & Distribution Handbook – Latin America”, 2016.

- Contribution in Report of World Bank and the International Finance Corporation “Women, Business and the Law”, 2014.

Work Highlights

- Counseled First Cash Financial Services, a US-based leading pawn house company, in their USD 7 million acquisition of Maxiprenda El Salvador, S.A. de C.V., a pawn house company with operations in Mexico, Guatemala and El Salvador.

- Advised Proyecto Bodegas El Salvador with a project for the construction of a USD 12 million warehouse complex.

- Represented the client, a leading US-based multinational company, in the defense against a USD 3.5 million lawsuit filed by one of their distributors for an alleged breach of the distribution contract.

- Assisted Grupo Ecos and SI Capital in the acquisition of a minority stake in Escotel Investments, S.A., an investment vehicle of Enertika, an engineering company based in Spain, and a world leader in power generation and energy efficiency. The advice was provided in Guatemala, El Salvador and Nicaragua.

- Legal advice and assistance to ThermaSource, a leading US-based international provider of services in the geothermal energy sector, the advice consisted in the formation of a new company in El Salvador. As a result, he counseled the client in the establishment of an industrial pledge for USD 12 million in order to ensure the credit obligation with the lender.

- Legal counsel to our client, a service company in the energy sector, in labor issue regarding an employee outsourced through a company responds to demands in human resource management.

- Advised on public liability, criminal, consumer and data protection issues for use of a new application in El Salvador and Honduras that the company was planning to launch in these countries.

- Advice to medium and large companies, as well as to Chambers of Commerce, regarding compliance with legal standards for combating money laundering.

Languages Spoken

Spanish

English

Education