Tag Archives: Commerce

Does Your Trade Policy Support Your Company’s Values?

If your company is like many, your board of directors may be demanding that you put more effort into environmental, social, and governance issues, which have become known by the now-ubiquitous acronym “ESG.” Those demands don’t come from nowhere: consumers are demanding transparency and social responsibility. In addition, if your company does business internationally, regulators … Continue Reading

U.S. Court of Appeals (2nd Circuit) Orders Argentina To Submit Proposal For Alternative Payment Plan To Avoid Debt Default… Again

By Gabriel Matus On March 1, 2013, the U.S. Court of Appeals for the Second Circuit ordered Argentina to submit its proposal for the terms on which it is prepared to make payment on approximately $1.3 billion of unpaid debt obligations stemming from the country’s $95 billion debt default a decade ago. The court’s ruling … Continue Reading

Fifth Circuit Refuses to Enforce Mexican Reorganization Plan’s Proposed Release of Non-Debtor Bond Guarantors

The Fifth Circuit recently upheld a Texas Bankruptcy Court’s refusal to enforce non-debtor third party releases in the Mexican reorganization proceeding (known as a concurso mercantil) of Mexican glass manufacturer Vitro SAB de CV. As a result of this decision, Wall Street and the capital markets will breathe a sigh of relief and will likely … Continue Reading

Fifth Circuit Expected To Issue Landmark Ruling Concerning Recognition of Foreign Bankruptcy Proceedings Contrary to US Public Policy

By Alan Feld In a widely followed dispute, the Fifth Circuit Court of Appeals will soon render a decision on the appeal of a Texas Bankruptcy Court’s refusal to recognize non-debtor third party releases in the Mexican reorganization proceeding (concurso mercantil) of Mexican glass manufacturer Vitro SAB de CV. Wall Street and the capital markets … Continue Reading

Mexico Added to UK Open General License for Export Controls Following Wassenaar Accession

By Curtis Dombek Earlier this year Mexico became a member of the Wassenaar Arrangement for multilateral military and dual-use controls. The Wassenaar Arrangement is a group of 41 countries that cooperate in the export control of dual-use goods and technology, items that pose a risk if trade is uncontrolled because of their potential for use … Continue Reading

Opportunities in the Upcoming U.S.-Colombia Free Trade Agreement

By Curt Dombek and Mark Jensen President Obama’s visit to the Summit of the Americas produced an important development for business in the United States and Colombia. During an April 15 press conference, President Obama and Colombian President Juan Manuel Santos jointly announced that the U.S.-Colombia Free Trade Agreement (CFTA) will enter into force on May … Continue Reading

Mexico’s President Felipe Calderon Announces New Incentives for the Movie Industry at a Special Ceremony Held at Baja Studios in Rosarito

By Jerry Gumpel   In February, Mexico’s President Felipe Calderon approved a decree establishing new incentives for the film industry in Mexico. Mr. Calderon announced the incentives at a special ceremony held March 9, 2010 at Baja Studios in Rosarito, Mexico (www.bajastudios.com), where major motion pictures like Titanic and Master and Commander were filmed. (Readers … Continue Reading

IRS Enforcement of Foreign Bank Account Reporting Rules May Catch Non-U.S. Persons by Surprise

By Keith Gercken U.S. persons are generally required to file an annual information statement with the U.S. Internal Revenue Service (IRS) disclosing any beneficial interest in, or signatory authority over, bank or other financial accounts located outside the U.S. This information statement is filed on Form TD F 90-22.1, and is generally referred to as an … Continue Reading

Key United States Laws Regarding Mergers and Acquisitions

By Robert Magielnicki There are three laws which a foreign company contemplating an acquisition of a United States corporation or other business should be familiar with because they can have a significant impact upon the proposed acquisition. These statutes are: (1)   Section 7 of the Clayton Act; (2)   The Hart-Scott-Rodino Antitrust Improvements Act of 1976, and (3)   The Exon-Florio … Continue Reading

The Federal Public Attester as Facilitator of Commerce

By Lazaro Pena Ruiz, PricewaterhouseCoopers, S.C. Preliminary Considerations Like most Civil Law systems that are descendants of the Roman system, the Mexican legal system bases its functionality in the codification of its laws and at the same time grants more weight to the form in which legal acts are carried out than does the Common … Continue Reading

The Global Credit Crunch: Is it a MAC?

By David Sands and Gabriel Matus With the uncertainty surrounding the long term effects of the current credit crunch, buyers and sellers in M&A transactions are pondering how to best protect themselves. The traditional guard against the unforeseen is the material adverse change clause – also known as a “MAC.”[1] As highlighted recently by the Accredited Home Lenders … Continue Reading

A Notice for Latin American Businesses: Understanding Products Liability Law and Recalls of Defective Products in the United States

By Polly Towill and Olivier Theard Introduction Latin American companies have had relatively open access to the market in the United State and sell billions of dollars of merchandise to U.S. consumers every year. While enjoying the fruits of this trade, Latin American companies should be aware of the potential pitfalls if the goods they sell … Continue Reading

Is Your Money Going South?

By Luis F. Martinez Serna, Basham, Ringe y Correa, S.C. Summary This essay will discuss a North American Free Trade Agreement (“NAFTA”) shortcoming that results in the unfair payment of import duties, fines, interest, and antidumping duties.   Many times, funds for payment come from United States or Canadian companies with operations in Mexico. NAFTA´s flaw lies … Continue Reading

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