Less than six months ago, Argentina’s world-class shale play, Vaca Muerta, was booming. Since then covid-19 has hit Argentina, oil prices have nosedived, and lockdown measures have made companies close wells and stop new drillings. In preparation for the day after coronavirus, Martínez de Hoz & Rueda partner José Martínez de Hoz considers what Argentina should do to put Vaca Muerta and Argentina back on track.
Latin Lawyer recorded 41 debt capital markets deals in Argentina from July to December, with a total combined value of approximately US$2.2 billion.
When it comes to the effect of covid-19 on the economy, one word comes to mind: devastating. While governments are taking action to protect people against the public health crisis, Latin America’s central banks are putting measures in place to brace for the economic impact of the pandemic.
The covid-19 crisis has led to a dramatic downturn in global mobility. LACCA asked member firms of Ius Laboris, the world’s largest HR and employment law firm alliance, to provide guidance on the pandemic’s impact on travel, global mobility and immigration for businesses in Brazil and Argentina.
Global law firm Dentons has completed its second virtual tie-up in a matter of weeks, combining with Argentine law firm Rattagan Macchiavello Arocena only shortly after it joined forces with Uruguay’s Jiménez de Aréchaga, Viana & Brause.
With economies at a standstill, companies fighting for survival and vulnerable local communities in need of pro bono counsel, the work of law firms has taken a drastic turn in recent weeks. Latin Lawyer speaks to law firm partners to learn about what measures they have taken to manage the crisis in the two months since the first covid-19 case was detected in the region.
During what is usually high season for the industry, Latin Lawyer speaks to external counsel advising companies in Latin America’s tourism and hospitality sector, which has been hit hard by the covid-19 pandemic.
The covid-19 pandemic is throwing up a harsh reality for employers, which are having to consider an increasingly drastic set of options to handle the changes the crisis might make to their businesses and workforces. Closures and mass layoffs are looming large for many companies, but lawyers are advising businesses to consider these options with caution.
Four Norton Rose Fulbright offices, Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados in São Paulo, New York and Rio de Janeiro, Marval O'Farrell Mairal in Buenos Aires and Philippi Prietocarrizosa Ferrero DU & Uría in Bogotá and Santiago have helped Japan’s Sumitomo Chemical Company buy several South American assets from Australian counterpart Nufarm.
The covid-19 outbreak puts insurance companies in the delicate position of balancing a huge claims load with their own capital and solvency stability. So far, there is also considerable uncertainty about whether insurance policies cover losses caused by the pandemic, with governments across the region considering issuing regulations aimed at bringing more clarity to the sector.