LEGAL SERVICES GUIDE: Restructuring Year
Amid global crisis, law firms covering Latin America have seen a boom in restructuring and M&A. They are now seeking growth in other areas as markets recover.
by Ben Miller
Currency slides, derivatives blowing up balance sheets, trouble repaying debt. All have caused problems for many companies in markets like Mexico, Brazil and Argentina. It is no surprise that debt restructuring should be the biggest growth area in the past year among law firms catering to Latin American corporate clients.
Client needs have changed substantially, says Rafael Robles, partner at Mexicos Galicia y Robles. Restructuring is the name of the game today, he adds.
Lawyers responding to the 2009 LatinFinance Legal Services Survey say debt restructuring saw the biggest leap in the past year among practice areas in Mexico, Argentina and Chile. In Brazil, Colombia and Peru, it trailed only M&A, which was a runner up in the other countries. Last year, lawyers put M&A as the biggest area in Mexico and Brazil. As can be expected in a year with...
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