How do you feel the pandemic has changed the world of work for in-house counsel and the function of the general counsel?
The pandemic has brought lots of changes in the way people approach work; nevertheless, technology has helped us continue fulfilling our tasks, especially concerning legal matters. Many lawyers have turned to in-house careers in the last year and a half, thanks to the evolution of the role and businesses that look for strategic partners. The legal department has assumed a crucial role in coordinating all areas in issues that require legal advisory; given the continually changing environment, the team must be alert and ready to solve problems. General counsel have a crucial role in coordinating team members to achieve outstanding resources.
What are the most significant cases or transactions that your legal team has recently been involved in?
One of the most significant cases my legal team has been involved in is financing the project Rumichaca Pasto. The most important infrastructure project in the south of Colombia, in which Sudinco acted as Sponsor. Currently, a refinancing of the project is in progress for a dividend recap. During the financing, the in-house legal team has had a significant role in coordinating external advisors, lenders, agents, insurance companies, representations, warranties, and covenants granted to sponsors in the transaction.
In 2020 Sudinco obtained a new road concession on the coast of Ecuador. Negotiations with the Ministry of Transportation and Public Works were held remotely. A final concession agreement was executed in October of the same year.
The main road concession in Ecuador is the Panamericana Highway operated by Panavial, a subsidiary of Sudinco. Panavial constantly develops projects for road improvement across all the concessions. A land acquisition plan has been concluded thanks to a team of technical and legal members. The legal team regularly participates in work meetings with public officials to agree on the legal ways to incorporate all the amendments necessary to extend the scope of the projects, even for the re-establishment of the financial equilibrium of the concession agreement.
In what ways do you see the in-house legal role evolving in your region over the next few years?
In the next few years, in-house lawyers will become strategic business partners for corporations thanks to lower costs (in comparison to hiring external counsel) and faster answers. Therefore, general counsel must improve and increase their knowledge daily to respond to corporations’ growing needs.
