Asnardo Garro is a partner in ARHMF’s Corporate and Financial Services practice. He has detailed experience in the laws and regulations governing and affecting financial institutions, money services businesses, domestic and international finance and secured transactions, and various other complex business transactions.
Mr. Garro regularly advises business clients in connection with general corporate and shareholder matters, acquisition, dissolution or sale related matters, asset-backed financing transactions, IT-related projects, contracts, and other general day-to-day related matters. He represents corporate clients with their complex domestic, international and cross-border mergers, joint venture and acquisition transactions. He also represents financial services clients with their financing, corporate, transactional, IT, and regulatory matters, including significant and complex financing and acquisition matters.
Publications & Speaking
- Speaker on "Potential Opportunities in Regulatory Landscape" at NAMWOLF Business Meeting.
- Presented Florida International Bankers Association webinar entitled “Impact of U.S. Regulatory Reform for International Banks in the U.S. and their Foreign Head Offices.”
- Speaker at South Florida Banking Institute Monthly Event entitled “The Dodd-Frank Act: A Community Bank Perspective.”
- Speaker at the Florida International Bankers Association’s Credit Administration Program regarding legal issues associated with syndicated loans, participation, and cross-border loan transactions.
- Speaker at Florida International Bankers Association Training Series on CFPB Final Rule amending Regulation E and implementing Section 1073 of the Dodd-Frank Act.
- Speaker at FELEBAN CLAB Banking Conference regarding regulatory challenges in electronic payment industry.
- Speaker at Association of Trade & Forfaiting in the Americas Annual Conference regarding impact of Basel III regulations on trade finance and banking industry.
- Speaker at National Association of Minority and Women Owned Law Firms regarding challenges and legal implications of multi-jurisdictional cross-border transactions
Financial Services/International Banking
- Represented Banco de Credito e Inversiones (BCI), the third largest bank in Chile, in the purchase of City National Bank of Florida from Bankia, S.A., for a purchase price of U.S. $946,900,000, including due diligence, negotiation of the purchase agreement, U.S. regulatory filings and all other transactional matters.
- Represented group of foreign investors in the acquisition of Espirito Santo Bank from the Portuguese bank, Banco Espirito Santo. Handled all matters related to the acquisition, including due diligence, negotiation of the purchase agreement, U.S. regulatory filings and all other transactional matters.
- Represented foreign buyer with the proposed purchase of a majority control of the $5,000,000 Anchor Commercial Bank, a Juno Beach-based community bank. Handled every legal aspect of the acquisition for the client, including due diligence, negotiation of the relevant purchase documents, and the filing of all regulatory applications.
- Represented Caja Madrid, one of the largest financial institutions in Spain, in the purchase of 83% of the stock of the parent company of City National Bank of Florida, the second oldest bank in Miami, for a purchase price of U.S. $927,000,000. The deal valued City National Bank of Florida at U.S. $1.1 billion.
- Acted as U.S. regulatory counsel to several Spanish banks in respect of the significant restructuring and mergers occurring in the Spanish caja banking system during 2010-2012. In connection therewith, filed various regulatory applications and notices for the related bank holding companies and the establishment and closing of local offices.
Corporate, Mergers & Acquisitions/International and Cross-Border
- Represented foreign investment fund in connection with its U.S. $175,000,000 equity and debt investment in a U.S.-based hospitality group owning multiple high-end resort and condominium projects throughout the United States and the Caribbean.
- Represented local food industry distributor in connection with the sale of family business to a large domestic food industry distributor.
- Represents large international technology group with all corporate and transaction matters in the United States, Latin America and the Caribbean.
Commercial Financing Transactions/Lending
- Represented domestic subsidiary of multinational equipment sales and rental company in the acquisition of local Florida equipment sales and rental company.
- Served as Florida counsel to national technology company with respect to $14,000,000 purchase of Florida technology company via reverse merger of subsidiary company.
- Represented lender with a $111,000,000 gap financing transaction involving the assignment of certain rights under a construction contract with the Florida Department of Transportation. The project was the first of its type in Florida.
- Represented lender with respect to a $70,000,000 gap financing transaction involving the assignment of Florida Department of Transportation construction contract rights.
- Represented a large Latin American financial institution in connection with their borrowing of a $325,000,000 syndicated interbank credit facility from a European syndicate.
- Represented a large Latin American financial institution in connection with their borrowing of a $40,000,000 interbank credit facility from a European syndicate.
- Served as special US counsel to the local office of a large Latin American financial institution in connection with their extension of an $80,000,000 credit facility to a foreign borrower.
- Represented domestic borrower and its foreign affiliates in connection with three separate asset-based facilities totaling approximately $30,000,000.
- Represented local office of a large Latin American financial institution in connection with the establishment of a cross-border receivables factoring program.
- Represented financial institutions in the sale and acquisition of several multi-million dollar participations in loan facilities on the secondary market.
- Represented domestic financial services company and certain of its subsidiaries in a $30,000,000 working capital facility provided by U.S. financial institution.
- Serve as counsel for domestic financial institution with respect to multiple trade finance, factoring and bill of exchange purchase transactions throughout Latin America.
- Represented domestic manufacturing company with respect to its $10,000,000 working capital and equipment finance facilities with U.S. financial institution.
- Represented multinational equipment sales and rental company with its $90,000,000 working capital facility from U.S. financial institution.
- Represent multiple financial institutions and non-bank lenders in respect to floorplanning and automobile finance programs and facilities.
Money Services Businesses
- Represented established domestic stored value card issuer in connection with a fifty-state survey of the money services business registration and licensing laws applicable to stored value cards.
- Represented foreign money transmitters and stored value card issuers with registration and licensure in various U.S. states.
- Represented foreign broker-dealer with respect to assets frozen in connection with a claim by Federal prosecutors that foreign broker-dealer was engaging as an unlicensed money transmitter in the United States.
Awards & Recognition
- Dealmaker of the Year, Corporate International category, Daily Business Review, 2016
- Listed as Best Lawyers 2016 for Banking and Finance
- Recognized as Up-and-Comer in 2010 Chambers and Partners USA Edition in the category of Latin American Investment.
- Recognized as Florida Rising Star in 2009 by Florida Super Lawyers.
- Recognized as 2009 Top Dealmaker of the Year by the Daily Business Review in Public Finance.
- Recognized as 2009 Top Dealmaker of the Year by the Daily Business Review in International Corporate.
- Recognized as 2011 Top Dealmaker of the Year by the Daily Business Review in Real Estate – Hotel (Acquisition).
- Recognized as an Up and Comer in 2015 by Chambers and Partners USA for Banking and Finance in Florida.