International Firm Clients Approach Venezuela Situation with "Cautious Optimism"

Partner George Mencio, who chairs Holland & Knight's firmwide International Initiatives, was interviewed by Latin Lawyer about how international law firms are advising clients on their approach to investing in Venezuela. Political and economic upheaval has changed the game for many organizations, and companies are now approaching investment opportunities with "cautious optimism," according to Mr. Mencio, who added that businesses in sectors beyond oil and gas, such as power generation and finance, are also calling for counsel. He described how Holland & Knight's Venezuela Strategic Advisory Team is helping clients assess potential scenarios, prepare for anticipated changes to sanctions regimes and capitalize on opportunities to help rebuild the country's oil and gas infrastructure or create an overall more investor-friendly market. Underlying these conversations, however, is the need for a measured approach as the situation continues to evolve.

"There are risks in moving too fast while the existing governing regime is in transition and U.S. regulations have yet to crystallize regarding what is and is not permissible," he said.

READ: International Firm Clients Approach Venezuela Situation with "Cautious Optimism" (Subscription required)