Lima, Peru Lima, Peru / Photo: Shutterstock.com

Kennedys has added three lawyers to its Peru office as firms continue lateral hiring around the globe despite disruptions from COVID-19.

Fernando Hurtado de Mendoza joins as a partner at the Kennedys office in Lima, where he will focus on aviation, corporate and insurance work. He brings associate Alejandra Vicuña with him in the transition from Rodrigo Elias y Medrano, the largest law firm in Peru.

Later in April, dispute resolution specialist Kodiak Semsch will join Kennedys as a senior associate and head of the firm's litigation practice in Lima. He was formerly a litigation partner at Osterling Abogados.

Marco Rivera, head of the Peru practice for Kennedys, described the arrivals as a "real coup" for the firm, which will have 11 lawyers and two partners in the Andean country following the additions.

Peru was one of the first countries in Latin America to shut its borders and economy in mid-March to prevent the spread of the coronavirus. The financial impact on lawyers has been swift. Several firms in Peru have temporarily cut lawyer pay by a quarter or more to weather the crisis—with only some promising later reimbursements.

The reduced pay arrangements have been accompanied by mounting workloads as companies have swiftly found themselves in crisis mode. Lawyers who counsel aviation companies are particularly busy.

Peru has reported over 20,000 cases of the coronavirus, the second-highest tally in Latin America, after Brazil. The accompanying supply and demand shocks have ravaged the economy of the world's No. 2 copper producer.

Goldman Sachs said in late-March it sees the Peruvian economy contracting 2.5% this year, a reversal from the 3.3% expansion it had forecast before the pandemic. Peru may fare better than some countries in the region, however, as years of prudent fiscal management have given it an enviable credit rating and tens of billions of dollars in savings.

The government of Peru has launched a stimulus package equivalent to 12% of its national output to ease the economic pain. The country may also be able to draw billions of dollars from credit lines extended by the International Monetary Fund and World Bank.

"Peru has long had one of the best performing economies in Latin America and though, like everywhere, the coronavirus crisis will have a major impact, it is well placed to bounce back," said Kennedys' Rivera.

Kennedys has had a physical presence in Latin America and the Caribbean since 2010, via a hub in Miami and 10 full offices and associations throughout the region. It launched its office in Peru in 2016.

Alex Guillamont, head of Kennedys' Latin America and Caribbean practice in Miami, said Peru is an important market for the firm.

"Pre-coronavirus, the government had outlined its plans to increase spending on infrastructure and social protection, making it a very attractive location," Guillamont said.

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