Brazil and Mexico - and some Stanford cases - help spur growth at litigation and arbitration specialists Astigarraga Davis.
BY JOACHIM BAMRUD
The Ponzi scheme developed by Allen Stanford helped create a spike in business in Venezuela for U.S.-based law firm Astigarraga Davis. "Stanford Financial had substantial operations there and that has caused a spike in clients seeking help with that particular matter," says Jose I. Astigarraga, the firms founding shareholder.
However, he emphasizes that he sees that business as temporary. Generally, Venezuela has been a small market after Hugo Chavez became president in 1989. "Before Chavez, even up to 10 or so years ago, our caseload regularly included matters arising from our multinational clients’ operations in Venezuela," Astigarraga says. "After Chavez? We still have Venezuelan cases but not anything compared to what it was."
Instead, Astigarraga Davis is getting its Latin America growth from markets like Mexico, Brazil and countries in Central America and the Caribbean. All in all, its business in Latin America and the Caribbean grew by 10 percent last year, Astigarraga says. "If I had to identify emerging patterns, I’d say that we are seeing substantial work...
Keywords: Brazil, Mexico, Peru