Ecuador is set to become the newest entrant to the market-friendly Pacific Alliance trade bloc, putting it on a path to receiving greater foreign investment. The legal markets of Ecuador’s prospective trade partners have opened up to foreign firms more than anywhere else in the region. At a roundtable in Quito law firm partners weighed up whether Ecuador’s local heavyweights should fear what is to come, or if there will be enough work to go around.
A Quito-seated tribunal has dismissed claims by both sides in a US$39 million joint venture dispute between Colombian and Ecuadorean state-owned telecoms companies that also gave rise to the threat of a treaty claim.
Many Latin American national oil companies are increasingly willing to relinquish control of exploration and production efforts to private corporations, heard delegates at Latin Lawyer Live 10th Annual Oil & Gas, which took place in May at the Park Hyatt in Buenos Aires.
Ferrere (Ecuador) has helped two companies win Ecuadorean oil production sharing contracts in a bidding round that will generate investments worth nearly US$1.2 billion.
Ferrere (Ecuador) has helped a Chilean subsidiary of Fomento Económico Mexicano (FEMSA) – best known as the world’s largest Coca-Cola bottler – acquire Ecuadorian pharmaceutical group Corporacion GPF, snapping up 620 stores across the country.
Pérez Bustamante & Ponce and Ferrere (Ecuador) have helped Chilean state-owned mining company Codelco form a joint venture with its Ecuadorian counterpart to develop the Llurimagua copper project in northern Ecuador.
Some 150 Latin American and international law firms have helped companies in the region raise more than US$200 billion through nearly 800 debt and equity capital markets deals throughout 2018, according to Latin Lawyer data.
Argentina’s Pérez Alati, Grondona, Benites & Arntsen and international law firm Shearman & Sterling LLP advised on the most debt capital markets transactions in Spanish-speaking Latin America during November and December, according to Latin Lawyer’s latest research.
Law firms that stand out for the pro bono work done by their lawyers and for their efforts to build a lasting pro bono infrastructure, both internally and in their legal market.
Ferrere has promoted five associates to partner across its Ecuador, Paraguay and Uruguay offices, increasing its regional partner count to 32.