Mariela Ruanova

Practice Areas

Banking and Finance

FinTech

Litigation and Dispute Resolution

Privacy and Cybersecurity

Venture Technology and Emerging Growth Companies

Career

Mariela Ruanova is a Partner in the Montevideo office and leads the Banking & Finance and TMT teams. After advising Banco Santander for more than 10 years in its corporate business and securities market, she focuses her advice on financial technology companies (Fintech) and companies in the means of payment sector (e-money issuers, acquirers, switches and terminal networks). Additionally, as co-head of the Litigation group in Montevideo, she leads several financial and commercial litigation cases promoted by companies such as Fox, American Express, Google and Banco Santander.

Mariela is Director of the Santander Group's financial entities in Uruguay (Creditel and Crédito de la Casa). She also focuses on areas complementary to banking law, such as e-government, data protection and technology.

In this context, she teaches the subject "Digital Banking and Fintech" in the Digital Transformation Postgraduate course at the University of Montevideo and was highlighted as a Leading Individual in the "Banking & Finance" practice by Legal 500 publication.

Publications

Author, “European Overregulation of Personal Data. What’s the impact for Uruguay?”, Abogados.com.ar, 2018

Author, “9 rules to understand the electronic signature", Select Magazine, 2017

Co-author, “A credit that will not be satisfied out of bankruptcy, can it be considered as sufficiently secured", Estudios de Derecho Concursal Uruguayo, Book III, 2016

“Solydifying the Financial System”, El Observador, 2008

Languages Spoken

Spanish and English

Experience

-Getnet Uruguay: assisted in the acquisition of the company in Uruguay (owned by Spanish technology company PagoNxt), providing day-to-day advice on the technology contracts that the acquirer enters into with its counterparties in the market. It also provides regulatory advice on the BCU and URSEC perimeter.

-FirstCaribbean International Bank, CaixaBank and Banco de Sabadell S.A. Miami Branch: advising the Banks in their capacity as borrowers, in the financing of more than US$ 230,000,000 granted to Tortuga UK in the acquisition of a hotel group in Jamaica.

.Corporación Nacional Financiera Administradora de Fondos de Inversión S.A. and Corporación Vial del Uruguay S.A.: advising on the structuring of a Guarantee Trust comprising future loans to the Uruguayan Ministry of Transport and Public Works ("MTOP") for up to approximately US$ 645 million to be collected in the period 2024-2033. The Trust would act as a guarantee for the contracts known as "CREMAFs".

-Corporación Nacional Financiera Administradora de Fondos de Inversión S.A.: advising on the structuring of the "Fideicomiso de Administración del Fondo de Estabilización Energética".

-Ebital S.A.: advising on the structuring of the "Fideicomiso Torres Nuevo Centro", the first real estate financing trust in Uruguay.

-Banco Santander: daily advice on highly complex corporate contracts, including advice on the loan granted to the Trust created for the financing of ANTEL ARENA.

-Google: daily advice on technology platforms and on the legal proceedings in Uruguay claiming the so-called "right to be forgotten".

-Bow Power: Representing the client in its capacity as landlord of the wind farm "Vientos de Pastorale" (50MW), in a claim brought by a landlord alleging breach of contract and seeking termination of the lease and damages for US $ 3,000,000.

-American Express: Advising on legal proceedings against Bank of America relating to promissory notes traded under an ALADI regulation.

-Banco Santander: Representing the client in a claim by Abiworld S.A., a former client who alleged negligence by the bank in its role as intermediary in the investment of "Fondo Rembrandt" market funds during the 2002 financial crisis in Uruguay. After complex legal proceedings, the Supreme Court ruled in favour of the Bank.

-Fox Entertainment: Advised in a judicial process related to the broadcasting of content in Uruguay.

-Grupo Cobra: Provided assistance on the financial aspects of a loan granted by Credit Agricole to Grupo Cobra for the construction, installation and operational management of a wind farm.