Category Archives: Cross-Border Transactions

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The FCPA Challenges of Doing Business in Cuba

On December 17, 2014, President Barack Obama announced a set of diplomatic and economic changes aimed at normalizing relations between the United States and Cuba after nearly 55 years of barriers between the two countries. Obama stated that diplomatic relations would be re-established with Cuba, and on May 29 his administration removed Cuba from the … Continue Reading

U.S. – Cuba Corporate Counsel Summit

Your essential guide to the legal and regulatory challenges facing US organizations entering the Cuban market Tourism. Aviation. Infrastructure. Hospitality. Agriculture. Food. Retail – Every industry will have its own set of Cuban regulatory hurdles that will need to be overcome in order for U.S. businesses to successfully stake a claim. Momentum’s U.S. – Cuba … Continue Reading

Turnin’ Havana to Atlanta: The White House Opens Doors for U.S. Telecommunications Investment in Cuba and Latin America

Historic changes in relations between the United States and Cuba (that touch nerves in Hip-Hop and on Capitol Hill) and new U.S. sanctions against Venezuela may provide increased opportunities for U.S. business generally, and electronic communications technologies and infrastructure providers in particular.  This week’s Cuba and Venezuela headlines, combined with recent and historic shifts in … Continue Reading

Groundbreaking Cross-border Airport Terminal Linking Tijuana to San Diego Breaks Ground

Sheppard Mullin client, Otay Tijuana Venture, announced this week that a cross-border pedestrian bridge linking San Diego with Tijuana’s A.L. Rodríguez International airport will be set to open next year. The project, which began in 2008 when Otay Tijuana Venture purchased the land in Otay Mesa, involved Presidential permits in both countries as well as … Continue Reading

Amendment to Mexican Commerce Code Facilitates Registration of Liens Against Mobile Assets Located In Mexico

The Official Gazette of the Federation (the “Gazette”) published an amendment to the Mexican Commerce Code (Código de Comercio) by which foreign entities (and not only individuals) acting as pledgors who have not been previously recorded in the Public Registry of Commerce, may validly obtain a registration number from the Unique Registry of Mobile Asset … Continue Reading

SEC Staff Issues Report on the Cross-Border Scope of Private Rights of Action for Securities Fraud

The staff of the Securities and Exchange Commission (“SEC”) recently released a study on the cross-border scope of the private right of action under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), 15 U.S.C. § 78j(b), and SEC Rule 10b-5, 17 C.F.R. § 240.10b-5, promulgated thereunder. The study, mandated by Congress … Continue Reading

Mexico Continues to Entice Private Investment in Infrastructure With a New Public-Private Partnership Act

By Bram Hanono On January 16, 2012, Mexico enacted the Law on Public-Private Partnerships (Ley de Asociaciones Público Privadas) ("PPP Law"). The new PPP Law is intended to regulate the formation of partnerships between the public and private sectors in an effort to provide services and build infrastructure to improve social welfare and increase investment … Continue Reading

The Chevron Ecuador Saga Continues as Second Circuit Overturns Anti-Enforcement Injunction

By Neil A.F. Popović and Rachel Tarko Hudson In the latest U.S. chapter of the long and hard-fought battle over claims of pollution and adverse health effects from oil development in the Ecuadorian rain forest by Texaco (acquired by Chevron in 2001), a potentially important court victory has gone to the so-called Lago Agrio plaintiffs. On January … Continue Reading

Argentina’s Parliament Approves A Measure Limiting Amount Of Land That Can Be Purchased By Foreigners

By Alejandro E. Moreno Fluctuating commodity prices, particularly with respect to the price of food and basic staples, have created a significant demand for arable land. The demand for arable land has, in turn, boosted the price Argentina’s rural land and caused a flurry of foreign investment. In response to acquisition of land by foreigners, … Continue Reading

Doing Transactions in Mexico – Conducting Due Diligence

By Joseph Pileri Conducting due diligence is a key aspect of any transaction, international or otherwise. Attorneys working on transactions conducted in Mexico or that involve Mexican entities ought to be aware of registration and certification requirements that are unique to Mexico and that can affect the good standing and validity of Mexican contracts and … Continue Reading

United States Increases Entertainment Exports to Latin American Markets

By Whitney A. Hodges On September 30, 2011, the United States government signed an Export Trade Certificate of Review for the Latin American Multichannel Advertising Council ("LAMAC"). This certification will allow seven United States-based entertainment firms to increase the exportation of multimedia entertainment to Latin American countries and will likely pave the way for other … Continue Reading

Increasing Level of Seizures by U.S. Customs

By Curt Dombek Companies are reporting a significant increase in intellectual property seizures at U.S. ports in recent months, resulting in increased supply chain disruptions.  Unfortunately, not all of this activity can be explained by more effective enforcement methods.  More cases of erroneous seizure have also been observed, and some of these are attributable to difficulty … Continue Reading

IRS Announces Second Special Voluntary Disclosure Initiative for Taxpayers With Undisclosed Offshore Accounts

The Internal Revenue Service announced on February 8, 2011 the creation of a second special voluntary disclosure initiative for U.S. taxpayers with undisclosed foreign bank and other financial accounts. This new program is a follow-on to the IRS’ original voluntary disclosure initiative that closed on October 15, 2009. The 2009 program reportedly attracted some 15,000 voluntary disclosures … Continue Reading

USCIS Makes Important Changes to I-129 Petition for Foreign Workers Effective December 23

By Curt Dombek United States Citizenship and Immigration Services (USCIS) has changed the I-129 Petition for Nonimmigrant Workers. This affects all H-1B, H-1B1 Chile/Singapore, L-1 and O-1A petitioners. Companies must certify compliance with the deemed export laws governing the release of controlled technology or technical data to foreign persons in Part 6 of the new … Continue Reading

US Courts Order Discovery for Use Overseas in Chevron-Ecuador Disputes

By Neil A.F. Popović and Rachel Tarko Hudson Context: The Chevron-Ecuador Litigation A high profile and complex dispute involving a group of Ecuadorian residents, Chevron Corporation and the Republic of Ecuador is forcing courts and the media to focus on an arcane provision of federal law that authorizes federal courts in the United States to order … Continue Reading

Second Circuit Affirms Conviction for Unlicensed Money Transmitting Based on Chilean Company’s Use of U.S. Bank Accounts

By Kevin R. Puvalowski On September 22, 2010, the Court of Appeals for the Second Circuit affirmed the conviction and 42-month sentence of Mauricio Alfonso Mazza-Alaluf (“Mazza-Alaluf”), a Chilean national, for conspiring to operate and actually operating an unlicensed money transmitting business based upon his company’s use of bank accounts in the United States. United States … Continue Reading

Second Circuit Rejects $2 Billion Class Action Award Against The Republic of Argentina

By Daniel L. Brown & Giselle Rivers On May 27, 2010, the Court of Appeals for the Second Circuit affirmed in part and remanded in part a district court’s decision certifying class actions against the Republic of Argentina and granting over $2 billion in damages to eight classes of plaintiffs.  Puricelli v. The Republic of … Continue Reading

What Every Company Should Know about Multi-Jurisdictional Cartel Investigations: Compliance Training

By Donald Klawiter and Jennifer Driscoll-Chippendale This article is the first in a three-part series on multi-jurisdictional cartel investigations.  In a break from traditional enforcement trends, two recent events underscore the importance of antitrust compliance training for companies located or doing business in Mexico and Latin America. First, in November 2008, the European Commission announced that … Continue Reading

Procurement Opportunities for U.S. Companies: Mexico’s National Infrastructure Program

By Bram Hanono In July 2007, President Felipe Calderon launched the National Infrastructure Program ("NIP") to increase coverage, quality, and competitiveness of Mexico’s infrastructure. Through infrastructure investment, Mexico is seeking to advance its regional and global standing. The NIP, slated for 2007 through 2012, calls for approximately US$230 billion, comprised of federal and private investment, to finance 480 … Continue Reading

Cross-Border Insolvency: A Primer on Chapter 15 of the U.S. Bankruptcy Code

By Gabe Matus The current global economic crisis has spawned a recent wave of complex insolvency proceedings in jurisdictions spanning the globe. Add to the mix the increasingly global nature of business and economics and the result is that a debtor subject to an insolvency proceeding in one jurisdiction may likely have assets and operations in … Continue Reading
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