Category Archives: Cross-Border Transactions

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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

Cross-Border Transactions: Notable Differences in Due Diligence

By Jerry Gumpel, Jeralin Cardoso and Larissa Calva-Ruiz Introduction: The type of transaction and the purpose behind the transaction will largely shape the focus of the due diligence process. Due diligence is about uncovering hidden risks and reducing further exposure. Whether the transaction involves the sale of a company or the purchase of assets, it is imperative … Continue Reading

Chapter 15 of the Bankruptcy Code – How International Businesses Cope with the Realities of Capitalism

By Margaret Mann The globalization of the world’s business activities and the nearly universal adoption of capitalism as the world’s economic system have led to two related phenomena.   The first is the need for effective national economies to enact an effective bankruptcy law. Capitalism rewards the taking of risk, and the taking of risk leads to … Continue Reading

Mexico’s Northern Baja Peninsula Is “Tropicalizing” to suit the needs of Americans

By Mr. London, London Group Realty Advisors Baja California’s easy access, proximity, great weather and warm culture have always attracted Americans to travel to its Mexican next door neighbor. Now, world class housing and hotels, and great real estate value, add to the allure for Americans considering investing or living in Mexico.  … Continue Reading

Moving Technology Across the Border: The Future of Biotech for the U.S. and Mexico

By Beni Surpin, Bram Hanono and Joseph Panetta, CEO, Biocom Historically, the collaborative efforts between the U.S. and Mexico in the Biotech arena, separate from medical devices, have been at the educational level with informal collaboration projects and student exchanges. One of these, of course, initiated the founding of two well known biotechnology institutes in Mexico. In the … Continue Reading

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