As Venezuela’s president faces growing international pressure to step down, the state has defeated a US$400 million investment treaty claim by UK mining company Anglo American over the alleged expropriation of assets relating to a nickel project.
Baker McKenzie (Mexico) has added two partners in Mexico City and Monterrey, as well as investing in its corporate social responsibility area.
An award that declined to hear a billion-dollar claim against Venezuela because it was filed after the state gave notice of its denunciation of the International Centre for Settlement of Investment Disputes (ICSID) Convention represents an “egregious assault” on the integrity and legitimacy of ICSID, according to an annulment application filed by two subsidiaries of US bottlemaker Owens Illinois.
Baker McKenzie has recruited a tax partner to its office in Caracas, bringing the partner count there to 14.
An ICSID tribunal has upheld claims against Venezuela over the expropriation of a 120 year-old coffee producer during the presidency of Hugo Chávez and ordered the state to pay investor around US$42 million plus interest (bringing the award's value to US$53 million to date).
The incoming head of Baker McKenzie’s Latin America regional council, Jaime Trujillo, says he aims to consolidate the firm’s extensive network and experience in Latin America, but does not envisage further expansion.
Jaime Trujillo has stepped down as managing partner of Baker McKenzie’s Colombia office to become the firm’s Latin America chair.
Baker McKenzie LLP has added 10 new partners across Argentina, Brazil, Colombia, Chile, Mexico and Peru in the last seven months, strengthening multiple practice areas and restocking its ranks after several departures.
A Spanish agricultural conglomerate has filed a claim at ICSID against Venezuela over the nationalisation of its operations on the orders of the late president Hugo Chávez.
BLP (Costa Rica) has helped US tyre company Bridgestone sell its Venezuelan assets after more than six decades in the country, amid mounting economic and political unrest.