Market: Ecuador

PDVSA seeks US$560 million in restitution

Acting Venezuelan president Juan Guaidó’s administration says state-owned oil company Petróleos de Venezuela (PDVSA) is entitled to restitution as a result of a bribery and money laundering scheme committed by its employees. By Ines Kagubare

11 May 2020

Ecuador adopts expedited merger protocol amid covid-19 woes

Featured in Covid-19: reporting on a crisis

Ecuador’s antitrust authority has adopted a fast-track merger notification procedure in response to the coronavirus pandemic that has devastated the country’s economy.

29 April 2020

Ecuador teeters on the edge amid public health crisis

Featured in Covid-19: reporting on a crisis

Ecuador is one of covid-19’s worst-hit countries in Latin America. Before the pandemic, it was already expecting a difficult 2020, but the coronavirus has further worsened that forecast and a foreign debt crisis is now looming large.

28 April 2020

Quito university to expand campus with IDB funds

Hunton Andrews Kurth LLP’s Washington, DC, office and Ecuador‘s Flor & Hurtado Abogados have advised IDB Invest on the first disbursement of an US$18m loan facility to Universidad de las Americas (UDLA). By Benjamin Wein

14 April 2020

Several firms in Ecuador’s first diversified payment rights programme

Hogan Lovells LLP in New York and Ferrere (Ecuador) have helped Ecuador’s Banco del Pacífico set up the country’s first-ever securitisation programme for diversified payment rights.

26 March 2020

Aguilar Castillo hires from the government in Ecuador

Regional law firm Aguilar Castillo Love has strengthened its office in Ecuador by hiring a senior lawyer from the Ministry of Energy.

24 March 2020

Multiple firms in Avianca restructuring loan

Gómez-Pinzón in Bogotá, Panama’s Morgan & Morgan, Muñiz, Olaya, Meléndez, Castro, Ono & Herrera in Lima and Pérez Bustamante & Ponce in Quito have helped Colombian airline group Avianca obtain a US$250 million loan through its Panamanian holding company from US counterpart United Airlines and US investor Kingsland Holdings.

20 March 2020

PetroEcuador is not a victim, federal judge rules

On 3 March, US District Judge Rodney Smith in Fort Lauderdale told Ecuador’s state-owned oil company, PetroEcuador, that it cannot be considered a victim of a bribery scheme.

10 March 2020

Ecuador must commit to pay Perenco award to maintain stay

An International Centre for Settlement of Investment Disputes (ICSID) committee has said it will stay enforcement of Perenco’s award of over US$400 million against Ecuador – but only if the state commits to pay that award in full in the event its annulment application is unsuccessful.

05 March 2020

Prosegur expands its Latin America presence

Spanish security company Prosegur has hired Pérez Bustamante & Ponce in Quito and Garrigues (Peru) to buy Ecuadorian counterpart Tevcol along with several Ecuadorian and Peruvian subsidiaries.

04 March 2020

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