Hogan Lovells shuts down Caracas office
Hogan Lovells has closed down its Caracas outpost, it has emerged through media reports.
According to Bloomberg and other online media, the international firm reduced its headcount in the Venezuelan capital in the aftermath of the implementation of U.S. sanctions against the country last year.
On an interview to Bloomberg on Thursday a Hogan Lovells spokesperson in New York confirmed the office closure.
Hogan Lovells´s predecessor firm opened in Caracas in 2005 and has regularly advised the Venezuelan energy company PDVSA, among other local and international clients.
Law firms in Venezuela have long felt the impact of the country´s deepening economic and political crisis. Some law firms, particularly international players, have reduced the number of lawyer or relocated them outside of the country.
The country is holding elections on May 20th and it is expected President Nicolas Maduro will remain in power.
The Latin American Lawyer contacted Hogan Lovells for comment.
