Alfredo R. Fonseca Zauner

Alfredo Fonseca is a Partner at Icaza, González-Ruiz & Alemán with fifteen years of experience in the profession. He specializes in Energy & Hydrocarbons, Maritime and Admiralty Law, Banking & Finance, and Corporate Law.

He has been part of the team involved in several high-profile transactions in the Energy and Infrastructure sectors, specifically for project financing and mergers and acquisitions. In addition, he has contributed to publications such as Latin Lawyer Regulator in the chapter regarding the National Public Service Authority of Panama.

Alfredo is a member of the Panama Bar Association and American Chamber of Commerce (AMCHAM), participating in the Electricity and Energy, Hydrocarbons, Legislation and Taxes, Trade and Investment, and Transportation and Logistics Committees.

Academic Instruction

  • Bachelor’s Degree in Law and Political Sciences, cum laude, Universidad Catolica Santa María la Antigua, Panama City, Panama, (2007).
  • Master of Law, with merit, King´s College London, London, United Kingdom, (2009).
  • International MBA, IE Business School, Madrid, Spain, (2015).
  • Specialization in Electricity and Gas Regulation, Universidad Externado de Colombia, Bogotá, Colombia, (2018).
  • License Certificate: 2008


    • Partner since 2023
    • Associate since 2015
  • Arias, Fabrega & Fabrega – Panama City, Panama
    • Associate (2013)
  • Arias, Fabrega & Fabrega –  London, United Kingdom
    • Associate, Office Manager (2009 – 2012)
    • Solicitor (2009)


  • Panama Bar Association.
  • American Chamber of Commerce (AMCHAM), Member of the Committees of Electrical and Energy, Hydrocabons, Legislation and Taxation, Trade and Investment and Transportation and Logistics.


Alfredo enjoys diving, sailing, piloting airplanes, and photography in his spare time.

Gabriel González-Ruiz

Gabriel González-Ruiz A.

With over 40 years of experience, Gabriel González-Ruiz is a partner at ICAZA, GONZALEZ-RUIZ & ALEMAN, specializing in Public Procurement and Privatizations, Administrative Law, Commercial Law, Banking Law, Mergers and Acquisitions, and Project Finance.

He has provided legal advice on a wide range of project financing transactions that have been carried out in Panama on behalf of international consortiums. In addition, he has acted as legal advisor for the World Bank and the Inter-American Development Bank projects. Likewise, he has advised the Republic of Panama on multiple occasions in the areas of public finance, special laws, financial assets, loans, public debt, derivatives, public credit, and the Panama Savings Fund.

Gabriel has also led the banking and finance practice group in financing transactions under the factoring modality.

He has been recognized as a leader in his field throughout his career by Chambers and Partners, IFLR1000, and Who’s Who Legal.

Academic Instruction

  • Bachelor of Law and Political Science, University of Panama, (1978).  Thesis:  “The Autonomy of Commercial Law” (publication recommended by the grading jury), (1978).
  • License Certificate:  1979


    • Partner since 1990.
    • Associate (1979 – 1989).


  • Panama Bar Association.

Awards and Recognition

  • Chambers and Partners Global
  • Chambers and Partners Latin-America
  • IFLR 1000 (Financial and Corporate)


Gabriel enjoys mountain biking and kayaking in his spare time.


Alvaro A. Alemán Healy

Alvaro Alemán joined Icaza, González-Ruiz & Alemán in 1986 and became a partner in 1996. He specializes in Tax Law, Corporate Law, and Mergers & Acquisitions.

Alvaro has held public office positions in Panama such as General Director of Revenue at the Ministry of Finance and Treasury (1993-1994), Advisor to the Minister of Foreign Affairs (2009-2010), Vice-Minister of Foreign Affairs (2010-2011), and Minister of the Presidency of Panama (2014-2018).

He has also held positions on the Board of Directors of Institutions and Associations such as the Public Registry of Panama, the Panama Maritime Authority, and the International Bar Association.

Alvaro has been recognized as a leading lawyer in Banking and Finance by Who’s Who Legal and in Capital Markets by LACCA.

Academic Instruction

  • Bachelor’s Degree in Law and Political Science,
    Universidad Santa María la Antigua, Panama, (1985).
    Thesis: “Relevant Aspects of Panamanian Electoral Law” (Publication recommended)
  • Master of Laws (L.L.M.), Duke University, Durham, North Carolina, U.S.A., (1986).
  • License Certificate: 1986


    • Partner since 1996
    • Associate (1986-1996)


  • Panama Bar Association and International Bar Association.

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