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.
As part of our series of reflections on the recent developments in legal markets of the jurisdictions featured in the 14th edition of Latin Lawyer 250, today we turn to Paraguay.
Much of Latin America emerged largely unscathed from the global financial crisis and continues to feature a host of countries experiencing economic growth rates the US and Europe can only dream of. So it is little surprise that increasing numbers of multinationals should look to the region in search of new markets and higher returns on investment. Joe Rowley takes a look at the leading M&A lawyers best equipped to help acquisitive companies seal the deal
Clare Bolton and Rosie Cresswell look back at the year that was in the Latin American legal market
A naturally occurring sweetener low in carbohydrates and sugar has long been used by Paraguayans. But for years, the stevia plant has been a banned substance in Europe and the United States. Following 2008's FDA approval, at the end of this year the European Commission is expected to declare stevia harmless to health, opening Paraguay's doors to a host of new foreign investment opportunities.
The competition law soon to be presented to the Paraguayan legislature is the result of a process of consensus between the government and the private sector, says a lawyer that worked on its drafting.
Paraguay's Estudio Jurídico Gross Brown has hired a new partner to head its labour and employment practice.