Advising Grupo Volvo in the sale of the new fleet of buses for Panama City

Arias, Fábrega & Fábrega advised Grupo Volvo with the sale of 1,200 Volvo buses to the Massive Transit Consortium of Panama (Consorcio Transporte Masivo de Panamá), which entered into an administrative concession contract with the State for the design, provision and operation of the new passenger massive transit system in the Panama City metropolitan area (Metro Bus).

These Volvo buses replace the inefficient and outdated "Diablo Rojo" buses that had comprised the city's transportation fleet and will significantly reduce both air and noise pollution in Panama City.

ARIFA advised in drafting the purchase and sale contract for the buses, and preparing promissory notes evidencing partial financing of the sale price, as well as a chattel mortgage to guarantee the agreed price.