Latin American legal environment attractive to crisis-stricken Spain gary yim
The move sees the firm join forces with Columbian law firm Barrera Esguerra Arriaga and Mexican firm Cervantes y Sainz in Mexico to form an alliance to establish new links, improve legal advice and strengthen the investment potential between Latin America and Europe, Expansión reports. The trio are looking to expand it to include law firms in Ecuador, Peru and Chile.
Broseta Abogados, led by Manuel Broseta, currently has offices in Madrid and Valencia and made the decision to launch the initiative after three years of discussions and working on how the firm would enter Latin America. This alliance follows on the back of increased interest in South America legal with Garrigues, the largest law firm on the Iberian Peninsula, announcing its plans earlier this year to quit its Affinitas alliance and open its own offices in Mexico, Colombia and Peru.
Julio Veloso, partner at Broseta reponsible for the firm’s internationalisation, will lead the project, and previously told Expansión that Latin America was now the clear focal-region for Spanish businesses owing to the large defection of companies from Spain as a result of the economic crisis.