Puerto Rican law firm McConnell Valdés LLC is marking seven decades of uninterrupted contributions to the development of the island’s legal profession, as well as its economic and social transformation.
To mark this milestone, and as evidence of its commitment to education, McV is creating a scholarship program for law students at the University of Puerto Rico School of Law, which will be known as the McConnell Valdés/Antonio Escudero Viera Scholarship Program, in recognition of Antonio Escudero Viera, a retired capital partner and former managing director of the firm. Eligible students will receive $5,000 scholarships for their studies.
“McConnell Valdés was founded to contribute to the changing needs of a developing Puerto Rico of the 1940’s and 1950’s. Following that tradition, for 70 years we have continued to adapt our way of doing business and our vision in line with the evolution and new challenges of our Puerto Rico,” said Arturo García-Solá, managing director of McV.
Many financial institutions and manufacturing companies were among McV’s first clients, with which the firm worked very intensely to propel Puerto Rico’s most important modernization and industrialization program, known as “Operation Bootstrap,” the purpose of which was to improve the standard of living for all Puerto Ricans.
McV was instrumental in the drafting and implementation of the Tourism Act of 1993,which facilitated the construction and expansion of a number of important hotels and resorts, such as the Ritz Carlton in Isla Verde and the Wyndham Río Mar Resort in Río Grande, the developers of which worked very closely with McV lawyers in all stages of the development process.
Similarly, McV’s was actively involved in the process of establishment of operations of a number of pharmaceutical companies on the island, such as Johnson & Johnson, AstraZeneca, Eli Lilly & Co., Glaxo-SmithKline and American Home/Wyeth (now Pfizer), as well as medical devices companies such as Medtronic and St. Jude Medical, to name but a few entities with which McV has worked throughout the years.