Central & South America

Quijano & Associates: 10-Years member of the American Chamber of Commerce & Industry of Panama

On Thursday, 22nd June, our Associate, Ahmed Herrera, received our 10-years award recognition at the Members’ Recognition and Networking Cocktail held by the American Chamber of Commerce & Industry of the Republic of Panama, at the American Trade Hotel.

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Foreign Direct Investment increases in Panama

The first quarter of 2017 showed a notable increase in foreign investment, totaling $1,315.4 million, representing 10.7% more than the $1,188.7 million recorded during the same period in 2016, all of them according to data revealed by the General Comptroller of the Republic of Panama, which are based on preliminary figures of the National Institute of Statistics and Census.

According o the  National Institute of Statistics and Census’ statistics, in the first three months of 2017, general licensed banks registered foreign direct investment in the amount of $160 million 900 thousand dollars, 3.7 percent more than the %155 million 200 thousand dollars in the first quarter of 2016.

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Public-Private Joint Ventures in Ecuador

The new government of Ecuador announced the immediate activation of the Public-Private Joint Ventures Law in force since 2016; in order to reactivate the economy; besides announcing and being taking immediate steps for an opening to private national and foreign investments in all fields. The Finance Minister announced that the private enterprise will from now on be the ”motor od the economy” as opposed to the state-centered previous model.

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Na véspera da perda de vigência do PRT, Governo Federal institui novo programa para quitação de débitos com descontos em multas e juros de mora

Por meio da Medida Provisória nº 783/2017, o Governo Federal instituiu o Programa Especial de Regularização Tributária (“PERT”) para a quitação de débitos tributários e não tributários perante a Receita Federal (“RFB”) e a Procuradoria Geral da Fazenda Nacional (“PGFN”), devidos por pessoas jurídicas ou físicas, com vencimento regular até 30/04/2017, estendendo o escopo de débitos passíveis de regularização originalmente concedido pelo PRT (MPV 766/2017), cujo prazo para conversão em Lei expirou em 01/06/2017. Também podem ser quitados no PERT os débitos objeto de: parcelamentos ativos ou rescindidos (inclusive parcelamentos efetuados no PRT); discussão em esfera administrativa ou judicial; ou lançamento por auto de infração.

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STATE OF RIO DE JANEIRO PUBLISHES LAW FORCING INDUSTRIES TO INSTALL WATER TREATMENT AND REUSE EQUIPMENT WITHIN 180 DAYS – See more at: http://www.klalaw.com.br/view-news.php?id=2341#sthash.Dm0KhLJG.dpuf

It was published on May 24 State Law No. 7,599 / 17, which obliges industries located in the State of Rio de Janeiro – which have 100 or more employees, to install water treatment and reuse equipment.

Industries that do not comply with legal requirements can not:

A) receive benefits and / or incentives from the state;

B) be contracted by the State;

C) signing agreements or similar instruments with the State.

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Amendment to the Rules on the Establishment of Liens and Liens of Financial Assets and Securities Subject to Registration or Centralized Deposit

On April 6, 2017, Provisional Measure No. 775 (” MP 775 “) was amended to amend the legislation on the establishment of liens and liens (guarantees) on financial assets and securities subject to registration or centralized deposit, Law no. 12.810 / 13 and revocation of art. 63-A of Law 10,931 / 04.

The centralization of the deposit and registration of guarantees on financial assets and securities is presented in recent years as a widely discussed topic in the face of the various doubts that the market faced regarding the coverage and formalization of guarantees. In this sense, MP 775 brought important changes.

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Sócio do KLA comenta sobre o Projeto da Lei de Seguros brasileira

Fabio Ramos, sócio da área de seguros do KLA, comenta o Projeto da Lei de Seguros brasileira em entrevista para a publicação Financial Services Advisor. Confira abaixo a entrevista na íntegra:

Does Brazil Need Reforms to its Insurance Sector?

New legislation pending in Brazil’s Congress could lead to several changes in the country’s insurance sector, the London-based International Law Office reported in late March.

The measure could mean changes relating to insurance contracts, payment of premiums, co-insurers and reinsurance.

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Video criticizing financial institution will not have to be removed from Youtube

In a recent decision, the São Paulo Court of Justice denied a request from Banco Bradesco requesting the removal of video published on Youtube containing criticism of the investment fund of the financial institution.

According to the decision, the Rapporteur considered that the criticism made in the video did not exceed the limits of the legitimate exercise of the right to free expression of thought guaranteed by article 5, item IV of the Federal Constitution, since the consumer has the right to expose Dissatisfaction with the services provided by the bank. Moreover, according to the Rapporteur, consumer criticism does not offend the objective honor of Banco Bradesco, since it is one of the largest private banks in the country.

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KLA recommended by international publication Chambers Global 2017, Latin Lawyer 250 and Leaders League

The KLA was once again recognized by the internationally renowned Chambers Global 2017 , Latin Lawyer 250 and Leaders League publications . Congratulations to all those involved!
Check the results:

Chambers Global – An international reference publication ranking rankings for the best lawyers and law firms in the world.

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Salaberren & Lopez Sanson (SyLS) in M&A Deal of the Year Award by Latin Lawyer

SyLS advised on the transaction that won the M&A Deal of the Year Award by Latin Lawyer, as co-counsel to Papa Energia S.A. in its approx. US $1 billion acquisition of Petrobras Argentina S.A.

SyLS Team was led by Rafael Salaberren Dupont (Head of the Corporate – Finance and M&A Practice), Senior Associates Juan Manual Campos Alvarez and Mariano Monserrat and Associate Diego D’Odorico.

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