When Colombian President Juan Manuel Santos signed a range of agreements with Hugo Chávez, he didn’t just take a step towards thawing the frosty relations his predecessor, Álvaro Uribe, had maintained with the Venezuelan leader, he also provided Colombia and Venezuela’s legal communities with a host of new work opportunities.
In their first foray into Colombia, private equity funds Advent International and Essex Ventures have hired Colombia’s Prieto & Carrizosa, US firm Cleary Gottlieb Steen & Hamilton LLP, Spain’s Uría Menéndez and Luxembourg’s Bonn Schmitt Steichen for their acquisition of pharmaceutical products distributor Biotoscana Farma.
Colombian law firm Rodríguez & Cavelier has joined Mackrell International, a global network of law firms based in London.
This week Holland & Knight, Bryan Cave, DLA Piper, Goodwin Procter and Dechert announced redundancies in the US, following UK firms Linklaters and Clifford Chance’s cuts earlier this year. Headcounts in Latin American law firms are also dropping as the global downturn continues.
‘Cordial’ meetings between the Venezuelan government and cement makers have confirmed plans for the forced buy-out of at least 60 per cent of the companies.
Colombian firm Parra, Rodríguez & Cavelier has created a practice to help financial clients comply with stricter laws to combat money laundering and terrorism financing.
Spain's Arbitration Club has founded its first Latin American chapter - in Venezuela. The chapter was finalised in mid-March.
Vice president of legal affairs, La Electricidad de Caracas