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Bolivian President Evo Morales marked May Day, the day of the worker, by taking the country’s electricity sector under state control yesterday – ordering troops to seize Bolivia’s main power grid from Spain’s Red Eléctrica Española (REE).

To mark the launch of the 14th edition of Latin Lawyer 250, for the next four weeks the Latin Lawyer briefing will reflect on the developments that have taken place in Latin America’s key legal markets over the past 12 months. Today we turn to Bolivia.

Some of Latin America’s top firms are looking to strengthen ties to the UK, as lawyers from Argentina, Bolivia, Brazil, Chile and Mexico come to London for a conference with the UK’s bar association.

The expropriation of power companies in Bolivia will be “a setback” for foreign investment in other industries, say some of Bolivia’s corporate lawyers, who also note that this is the first time the government has said it will offer compensation at the start of a nationalisation.

Reform is in the pipeline, but Bolivia’s lawyers say it is too soon to assess the impact on their practices following President Evo Morales’s resounding victory in Sunday’s presidential contest.

Latin America is “definitively not” near the beginning of the end of arbitration, Fernando Peláez-Pier, a partner with Venezuela’s Hoet Peláez Castillo & Duque, has told the ICC Latin American arbitration conference in Miami.

Bolivia's state oil company YPFB will be subject to international arbitration, after a presidential decree authorised the company to look overseas for goods and services not available in Bolivia.

Yesterday the gas-rich Tarija province joined the list of Bolivian provinces voting in favour of autonomy.

The US's approval of CAFTA has raised hopes in the Andean region that their own version will be finalised soon An Andean free trade agreement - between Peru, Colombia, Ecuador and the US - has been under negotiation since May last year. Last month the parties agreed on customs procedures and competition policy.