How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?  

Periods of crisis are never easy; however, it is also true that in Uruguay we have enjoyed a certain level of stability recently, allowing us to develop business strategies aimed at more distant horizons. In the financial market where our company operates daily, perhaps the biggest challenge in recent years has been the impact of the Russia-Ukraine war on capital markets and the rise in interest rates in the United States. Both situations necessitated the redesign of certain products and strategies to provide better options for our clients. 

What are the main cases or transactions that you have been involved in recently?   

Recently, our team participated in structuring a Financial Trust that raised 55 million dollars in the local securities market. The funds were intended for purchasing land in the eastern part of the country to develop forestry activities, aiming to ensure a return for investors that will extend throughout the entire period the trust remains active. 

What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?   

Sustainability practices have been embedded within the core of Winterbotham since its inception. In terms of employment policies, non-discrimination, and working conditions, these have always been given institutional priority. Another measure we have implemented as a company is the specialisation of our staff in these practices through postgraduate studies at renowned universities. Regarding the role of the General Counsel in promoting these practices, they are a key player in policy design forums where they can provide qualified opinions. 

What do you see as the major legal challenges for businesses in Uruguay over the next five years, and how are you preparing to address them? 

Given that the core of the country’s production business is raw materials, the impact of sustainability requirements from foreign buyers and how we, as a country, adapt to these needs will be crucial for continuing to do business, especially with the United States and Europe. In response, various national forums are working on new sustainability standards to promote compliance with these requirements, and as a company, we are actively participating in these discussions. 

Focusing more on the business sector in which we operate, it is vital to have appropriate regulatory and tax incentives to continue driving the local capital market. This is essential for both institutional and individual investors to find attractive products.