Chile Unrest Seen as Slight Setback for Deals in Country That Provides Steady Work for Lawyers
The Institute of International Finance predicts Chile's GDP will grow 2.2% in 2020.
January 30, 2020 at 03:30 AM
4 minute read
In the midst of violent protests in Chile last November, New York-based Shearman & Sterling partner Alexandro Padrés was closing a refinancing deal for a power generation company in the Andean nation.
His counterparts in Chile worked from home to make the deal happen, avoiding the chaos outside as thousands took to the streets. Protesters torched buildings, trashed metro stations in the Chilean capital of Santiago and looted grocery stores.
The government tallied damages at $1.5 billion, while efforts to repress the protests led to at least 20 deaths and 2,500 people injured. Smaller-scale protests have since been a near-daily occurrence.
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