The Legal 500

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Although Honduras’ economy remains largely reliant on US trade and suffers from high levels of crime that continue to deter the more prudent of international investors, the country continues to pursue policies that encourage market transparency and facilitate business at a global level; examples include a number of free trade agreements, such as the Central America-Dominican Republic-United States Free Trade Agreement (DR-CAFTA), all of which have helped trigger the modernisation of Honduras’ trade and investment levels. In specific sectors, the current President of Honduras (Juan Orlando Hernández) has made clear his determination to target the mining industry as a key growth area for the economy; meanwhile the country’s energy lawyers continue to enjoy renewable energy instructions that also include solar and wind farm projects.

A number of Honduras’ law firms also have strong presences throughout the Central American region, including Arias & Muñoz, Aguilar Castillo Love and Consortium Legal, all distinguishing themselves through their strong international corporate and finance credentials; standout domestic players include local firms such as Casco-Fortín, Cruz & Asociados, Bufete Gutiérrez Falla & Asociados and López Rodezno & Asociados.

Key growth into Honduras’ legal market in 2015 saw Costa Rica’s largest firm, BLP, open new offices in Tegucigalpa and San Pedro Sula as part of its drive to become a regional firm, hiring six partners, mostly from Lexincorp, including banking and finance lawyer José Miguel Álvarez, energy practitioner Karla Aguilar, labour law specialist Adolfo Pineda and tax experts Jorge Brizuela and Lillian López. Fernando Godoy also joined the new office from his own litigation, regulatory and IP boutique Godoy & Asociados, which he founded in 2014 after leaving Consortium Legal (at the time known as Consortium – Centro América Abogados). Other regional players moving into Honduras include Guatemalan firm Mayora & Mayora, S.C., which recently opened in the country.

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