Central American law firm Consortium Legal has elected Guatemalan partner Álvaro Castellanos to head the regional firm as its new president, after José Evenor Taboada’s 15 years at the helm.
A group of partners have left Sáenz & Asociados’ El Salvador office, including arbitration co-head Humberto Sáenz Marinero and corporate head Mario Antonio Sáenz Marinero, to launch a new firm in El Salvador and Guatemala.
Local lawyers have questioned Guatemala’s divisive new electricity law, which impedes power distribution companies from suspending their services to customers unable to pay their bills because of the covid-19 pandemic, arguing it threatens the functionality of the country’s power sector.
BLP (Costa Rica) has helped the International Finance Corporation (IFC) lend US$12 million to the municipality of San José to fund renovation and infrastructure projects in the country’s capital.
Simpson Thacher & Bartlett LLP in New York and Cuestas.PPQ Abogados in Guatemala City have helped the Republic of Guatemala issue sovereign bonds worth US$1.2 billion, including social bonds for US$500 million to fund the government’s response to the covid-19 pandemic.
Guatemala has failed to knock out a US$350 million DR-CAFTA (Dominican Republic-Central America free trade agreement) claim by two US mining investors, with a divided tribunal concluding they were entitled to pursue claims for reflective loss – despite the state’s arguments it could lead to double recovery.
Regional law firm Aguilar Castillo Love has strengthened its office in Ecuador by hiring a senior lawyer from the Ministry of Energy.
Central American law firm Lexincorp has strengthened its corporate practice in Guatemala by incorporating a boutique and adding one associate.
Holland & Knight LLP in New York and Los Angeles; Arias, Fábrega & Fábrega in Panama City; Central American Consortium Legal and Garrigues (Peru) have helped Panama-based Banco Latinoamericano de Comercio Exterior (Bladex) lend US$91 million to Costa Rican household retailer Grupo Monge.
UK marketing group WPP has hired QIL+4 Abogados to buy digital marketing company XumaK, which has offices in Guatemala, Colombia and Miami.