The recent accounting scandals have thrown the spotlight on practices within the legal profession and in particular on how conflicts of interest are resolved. Professional liability insurance is virtually unknown in Latin America, and clear standard corporate governance rules are hard to come by. But, as Rachel Youngman discovers, change is underway.
Banco Continental de Panamá, SA, Panama’s third-largest private bank, has acquired 100 per cent of the shares of Banco Alemán Platina, SA, a Swiss-German International Banking Licence Bank with offices and operations in Peru, Colombia, Ecuador, Panama, Costa Rica, Nicaragua, Guatemala, El Salvador, Honduras and Mexico.
On June 27 and 28 leaders from Mexico and six Central American countries, together with 1,350 representatives of the business and financial community, gathered in the Mexican resort of Mérida to discuss plans to give the region a more prominent role in the global economy by improving local infrastructure.
Chadbourne & Parke LLP has launched a new project finance workout and restructuring practice. The practice, which was announced on July 15, has already taken on several clients in Latin America
At two recent events in Madrid and London, the enormous difficulties involved in tackling the economic problems of Argentina and other Latin American countries were discussed.
Representatives of multilateral institutions, international experts and academics, and trade ministers and officials from Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua took part last weekend in a roundtable at the Inter-American Development Bank in Washington DC. The meeting was on the prospects for a free trade agreement between Central America and the United States.
The Inter-American Investment Corporation (IIC) has agreed a series of loans to small and medium-sized enterprises (SMEs) in Guatemala, El Salvador, Costa Rica and Brazil to finance leasing operations.
Former US Attorney for the Southern District of New York Mary Jo White has joined Debevoise & Plimpton, effective June 1.
Paul Yde and M J Moltenbrey have become partners of Freshfields Bruckhaus Deringer LLP and will launch a US antitrust practice in Washington DC. Joining them will be Alan Ryan, a competition partner who is relocating from the firm’s Brussels office.
Thomas Vega-Byrnes has left Winston & Strawn and has set up his own solo practice, Thomas Vega-Byrnes LLC. He will continue to work in international power projects and will build upon established relationships with commercial, government and multilateral lenders, equipment suppliers and contractors.