Latin Lawyer continues with its overview of the region’s leading business law firms in Latin America, as analysed in the 17th edition of Latin Lawyer 250. Today the focus is on Paraguay.
Sullivan & Cromwell LLP in New York and Parquet & Asociados in Asunción have helped Paraguay issue sovereign bonds worth US$1 billion – the country’s largest-ever international issuance and the first since the settlement of a number of ICSID disputes.
With a rapidly growing economy and important legislative developments in the pipeline, Rachel Hall finds that Paraguay is a resource ready and waiting to be tapped
Cartels and near-monopolies will for the first time be regulated and punished in Paraguay, after the country’s first ever competition law brings it in line with global standards.
With double digit growth forecast for the coming year, Paraguay will need capable stewardship to seize the opportunity to develop from one of Latin America’s poorest countries into a strong emerging economy - as the country’s lawyers point out, perhaps it is no surprise that it is a businessman rather than a politician the country has elected.
Continuing with our series of reflections on the recent developments in legal markets of the jurisdictions featured in the 15th edition of Latin Lawyer 250, today we turn to Paraguay.
The Republic of Paraguay has turned to the Washington DC, London and New York offices of Sullivan & Cromwell LLP and local firm Parquet & Asociados for its inaugural international debt issuance worth US$500 million.
HSBC has turned to the London office of Linklaters and Panamanian firm Arias, Fábrega & Fábrega (ARIFA) for the sale of its Panama subsidiary to Colombia’s Bancolombia – the latest step by the world’s third largest bank as it sells out of lower growth jurisdictions in Latin America to concentrate on Brazil, Mexico and Argentina.
As Paraguayan President Fernando Lugo calls his removal from office a sign that democracy in the country is broken, Paraguay’s corporate lawyers say that the impeachment process could usher in a more business-friendly environment.
US firm Proskauer Rose LLP, Colombia’s Cárdenas & Cárdenas, Paraguay’s Palacios, Prono y Talavera Abogados, Peru’s Estudio Echecopar and Uruguay’s Ferrere Abogados have helped Colombia’s Gilinski group acquire HSBC’s businesses in Colombia, Paraguay, Peru and Uruguay – the second Colombian company to benefit from HSBC’s Latin American asset sale.