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Portrait of Michelle Barclay

Michelle Barclay

Partner

Contact
CMS Grau
Av. Santa María 110
Miraflores, L18
Lima
Peru
Languages Spanish, English
Corporate Restructuring & Insolvencies

Michelle Barclay (dual-qualified lawyer in New York and Peru) specializes in corporate restructuring and cross-border insolvencies, including in and out-of-court restructurings, corporate and bankruptcy liquidations, distressed M&A, bankruptcy takeovers, international projects and arbitrations.

Michelle’s national and international experience allows her to provide expert advice in bankruptcy and corporate restructuring matters and cases. Michelle worked as a permanent associate at Skadden, Arps, Slate, Meagher and Flom’s Corporate Restructuring Practice group in New York and joined CMS Grau as a Partner on January 2013.

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Clients commend her for "her experience at the international level," as well as for "her notable and important leaderships skills." An interviewee further appreciates that "she has a willingness to think beyond the legal precedents and comes up with creative solutions.

Chambers & Partners 2022 | Bankruptcy/Restructuring

Michelle Barclay Thorne is highlighted as "a very experienced lawyer" by satisfied clients. Other market commentators single out her "ability to take Peruvian law and help US lawyers to understand it. She goes beyond when you ask specific questions because she sees the bigger picture in terms on how it is going to affect deals."

Chambers Latin America 2020

Michelle Barclay Thorne is highly valued by clients, who appreciate that "she not only has an excellent command of Peruvian law, but also has a lot of knowledge and experience in international insolvencies. This clearly adds value to our matters." Another client enthuses that "she is very clear and practical when explaining matters and gets straight to the point."

Chambers Latin America 2018

Relevant experience

Michelle has been retained to work together with Skadden Arps Slate Meagher & Flom LLP (New York) to provide advice to the US Chapter 11 Trustee in the China Fishery case. This involves several international issues an expertise in Chapter 11 (US reorganization proceedings).

Michelle has worked together with Covington & Burling in an international arbitration proceeding which involved bankruptcy matters related to an international oil company, and on a different matter with a Korean client regarding certain agreements and its insolvency implications due to distressed local assets.

Michelle advises a key creditor in one of the most important bankruptcy cases handled by the Peruvian Bankruptcy Authority.  This is a very unique case as it involves the State (Ministry of Energy and Mines) as one of the majority creditors.

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Memberships & Roles

  • New York Bar Association (New York Bar Exam)
  • Lima Bar Association (Colegio de Abogados de Lima – CAL)
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Education

  • 2001 – Master´s Degree in Corporate Law (LL.M.), New York University
  • 2001 – Finance seminar, Stern School of Business (NYU)
  • 1997 – Law Degree, Universidad de Lima
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Infrastructure & Projects

Michelle Barclay (dual-qualified lawyer in New York and Peru) specializes in investment projects and infrastructure, public-private associations (PPPs), international investment arbitration, distressed mergers and acquisitions, corporate restructuring and cross-border insolvencies.

She has advised local companies and international groups in several infrastructure projects issues, including advising on PPPs, investment projects related to public assets, and state-investor matters and negotiations, in a range of sectors. She has participated in numerous national and international transactions, and she is currently handling one of the most important crisis cases due to termination by the Peruvian government of the biggest concession awarded in Perú.

Michelle has worked as a permanent associate at Skadden, Arps, Slate, Meagher and Flom’s Corporate Restructuring Practice group in New York, having wide international experience advising clients in diverse matters and cases.

Michelle joined CMS Grau as a Partner on January 2013 and is currently a member of the Management Committee of CMS Grau, co-leads the Marketing and Communications Committee and is responsible for the firm’s programs for the development of women in the legal profession. Chambers & Partners (Diversity) granted Michelle the Women in Law Award: Peru Lawyer of the Year (2018).

She currently writes a monthly column for El Comercio newspaper (the largest circulation daily newspaper in Peru) in the Economy section.

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Practice co-head Michelle Barclay Thorne boasts in-depth knowledge of PPPs and concession bids for domestic and international clients. She has impressed market sources, who appreciate that she provides "great attention" to her clients and go on to single out her "expertise" in this sector.

Chambers Latin America 2018

Co-head of department Michelle Barclay Thorne comes highly recommended by clients, who state: "She is a very professional and committed lawyer, with a good ability to find diverse options to solve any legal issues quickly." She is qualified to practise in both New York and Peru and has worked as an associate at Skadden, Arps, Slate, Meagher & Flom in New York.

Chambers Global 2017

Relevant experience

Michelle is leading the advice to international client in the public bid called by EMILIMA (Empresa Municipal Inmobiliaria de Lima - Real Estate Municipal Company of Lima) for the acquisition of goods and installation for the renovation of the Magic Fountain and Fantasy Fountain of the Magic Water Circuit of the Reserve Park (Circuito Mágico del Agua del Parque de la Reserva).  The project described is still one of the major municipal projects and an icon and symbol of the recovery of public spaces in Lima.

She has provide advice in the development and structuring of a PPP in order to build education infrastructure, provide infrastructure to important university in Lima, build social infrastructure and construction of parking lots, and construction and operation of a highway before PROINVERSION and other public entities, including the Ministry of Transportation and Telecommunication.

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Memberships & Roles

  • New York Bar Association (New York Bar Exam)
  • Lima Bar Association (Colegio de Abogados de Lima – CAL)
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Education

  • 2001 – Master´s Degree in Corporate Law (LL.M.), New York University
  • 2001 – Finance seminar, Stern School of Business (NYU)
  • 1997 – Law Degree, Universidad de Lima
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Arbitration

Michelle Barclay (dual-qualified lawyer in New York and Peru) specializes in national and international arbitration and has broad experience leading diverse projects, dispute settlement, as well as negotiations and dispute settlement with the Peruvian government.  

Michelle has also experience  in distressed mergers and acquisitions, corporate restructuring and cross-border insolvencies, investment projects and infrastructure.

She has provided advice to various local and international companies in infrastructure projects, including Public-Private Partnerships (PPPs). Michelle has led and managed a variety of cases related to business crisis at the local and international levels.

Michelle has worked as a permanent associate at Skadden, Arps, Slate, Meagher and Flom’s Corporate Restructuring Practice group in New York, having wide international experience advising clients in diverse matters and cases.

Michelle joined CMS Grau as a Partner on January 2013 and is currently a member of the Management Committee of CMS Grau, co-leads the Marketing and Communications Committee and is responsible for the firm’s programs for the development of women in the legal profession. Chambers & Partners (Diversity) granted Michelle the Women in Law Award: Peru Lawyer of the Year (2018).

Michelle currently writes a monthly column for El Comercio newspaper (the largest circulation daily newspaper in Peru) in the Economy section.

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Michelle Barclay Thorne is highlighted as "a very experienced lawyer" by satisfied clients. Other market commentators single out her "ability to take Peruvian law and help US lawyers to understand it. She goes beyond when you ask specific questions because she sees the bigger picture in terms on how it is going to affect deals."

Chambers Latin America 2020

Relevant experience

Currently advises a Spanish company in various arbitration disputes (ICSID arbitration and local arbitrations) related to the termination by the Peruvian government of the largest concession awarded in Peru (project - South Peruvian gas pipeline).

Appointed as expert (findings of fact and conclusions of law) in an important international arbitration held in New York with the International Centre for Dispute Resolution of the American Arbitration Association concerning two large business groups in the hydrocarbon industry.

Advised Hydro Quebec (Canada) in the negotiation and settlement of an investment dispute with the Peruvian government related to the amendment to their BOOT contract referring to the main electric power transmission line in Peru.

Advised Electro Sur Medio (currently Dunas Energía), an electric power distribution company, in the renegotiation of the privatization agreement executed with the Peruvian government and subsequent resolution of the company’s crisis (following the 2007 earthquake in Peru). 

Advised a Peruvian company of Norwegian capital in a commercial arbitration brought before the Lima Chamber of Commerce (Peru), relating to the payment of a significant debt within the framework of a major insolvency process of a mining company in Peru.

Advised a Peruvian company of Dutch capital in a commercial arbitration brought before the Arequipa Chamber of Commerce (Peru) in connection with illegal and irregular acts carried out by the company’s general manager.

Advised a Spanish company in various negotiations and agreements with the Municipality of Lima (Peru) in connection with a utility services agreement.

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Memberships & Roles

  • New York Bar Association (New York Bar Exam)
  • Lima Bar Association (Colegio de Abogados de Lima – CAL)
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Education

  • 2018 – Participant in the first Executive Education Course in International Investment Law and Arbitration organized by The Lauterpacht Centre for International Law, in collaboration with Cambridge Judge Business School at University of Cambridge.
  • 2001 – Master´s Degree in Corporate Law (LL.M.), New York University
  • 2001 – Finance seminar, Stern School of Business (NYU)
  • 1997 – Law Degree, Universidad de Lima
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17/11/2020
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Re­struc­tur­ing and in­solv­ency law in Peru
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Comparable
09/06/2020
In­solv­ency law and rules in Peru
1. What type of re­struc­tur­ing schemes ex­ist in Peru? In Peru, cor­por­ate re­struc­tur­ing is car­ried out through in­solv­ency pro­ceed­ings. These pro­ceed­ings are handled by a na­tion­al ad­min­is­trat­ive agency...
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28/08/2019
Crisis man­age­ment in the midst of Op­er­a­tion Car Wash
Op­er­a­tion Car Wash (known as Lava Jato in Lat­in Amer­ica), the largest cross-bor­der anti-cor­rup­tion in­vest­ig­a­tion in Lat­in Amer­ica, star­ted five years ago as a routine money laun­der­ing case in the Brazili­an...
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In­ter­na­tion­al Dis­putes Di­gest - Sum­mer Edi­tion 2019
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10/09/2018
Bank­ing and Fin­ance Cor­por­ate / M&A
CMS Grau has a multi-dis­cip­lin­ary team con­formed by ex­perts from all prac­tice areas and sec­tors. We have broad ex­per­i­ence provid­ing spe­cial­ized ad­vice in loc­al and in­ter­na­tion­al trans­ac­tions in...
23/05/2018
Michelle Barclay as "Peru Law­yer of the Year" in the Cham­bers Wo­men in...
Our Part­ner, Michelle Barclay, won the cat­egory of 'Peru Law­yer of the Year' in the Cham­bers Wo­men in Law Awards: Lat­in Amer­ica 2018, which took place this May, 10 in San­ti­ago de Chile. The Cham­bers...
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In­fra­struc­ture & Pro­jects
CMS Grau has a sol­id, mul­tidiscip­lin­ary and ded­ic­ated team with broad ex­per­i­ence provid­ing spe­cial­ized ad­vice in private and pub­lic pro­jects among all sec­tors. Our firm has been work­ing with na­tion­al...
22/06/2017
Bank­ruptcy & Re­struc­tur­ing
The head of our Bank­rupcty & Re­struc­tur­ing area, Michelle Barclay, par­ti­cip­ated in the Cor­por­ate LiveWire' Bank­rupcty & Re­struc­tur­ing 2017 - Ex­pert Guide, with the art­icle: "Be Pre­pared: struc­tured in­form­a­tion...