Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Finding it difficult to compete for attorneys with local law firms, Morrison & Foerster announced last Thursday that it is closing its two-year-old office in Buenos Aires. In its stead, the firm has established a strategic alliance with the 22-lawyer Buenos Aires firm Alvarez Prado, Cabanellas & Kelly. “Local firms often have a leg up,” said MoFo chairman Keith Wetmore. “They have a local reputation.” It’s difficult to recruit in the local market when “competing with local pricing and talent,” Wetmore added. So MoFo decided it was better to “join them rather than beat them.” MoFo’s Argentinean outpost was initially set up in January 1999 to handle projects for a subsidiary of Enron Corp. The firm subsequently represented several Internet startups and investment banks in IPOs. MoFo’s clients include the auction site Deremate.com and the bookseller Yenny S.A., as well as several foreign companies doing business in Argentina, including Accor, a Paris-based travel and tourism company, and Overseas Private Investment Corp. based in Washington, D.C. Wetmore said clients will decide whether to transfer their business to Alvarez. “A number are already using both firms,” he said, which has made for “a fairly graceful transition.” Many MoFo attorneys are also likely to join Alvarez. The firm made offers to four of MoFo’s Argentinean attorneys. The remaining four U.S. attorneys will continue to handle Latin America work through MoFo’s U.S., European and Japanese offices. Under the alliance, MoFo will retain a toehold in Argentina, and Alvarez will have ties to MoFo’s 18 worldwide offices. “Establishing an alliance with such a prestigious international firm is a wonderful development,” Alvarez partner Guillermo Cabanellas said in a MoFo press release. “We think that the new relationship will be of great benefit to clients of both firms and for both our firms.”

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.