The Second Circuit has affirmed the injunctions against Argentina in NML Capital, Ltd. v. Republic of Argentina, a case that we have been following in this blog (see here and here), although the amended injunctions shall be stayed pending the resolution by the Supreme Court of a timely petition for a writ of certiorari.
Continue Reading Argentina’s financial fate now depends on the U.S. Supreme Court
Considerations for US Employers Post-DOMA
When the Supreme Court issued its opinion in U.S. v. Windsor on June 26, it invalidated the federal definitions of “spouse” and “marriage,” and, in so doing, altered employer obligations with respect to same-sex marriages. Although the media coverage of this decision has understandably focused on other implications of the decision, it inevitably creates new challenges for employers. In this post, we will provide insight into how the decision will affect employers moving forward and provide suggestions as to how employers can best prepare in the face of new areas of uncertainty created by this decision.
Continue Reading Considerations for US Employers Post-DOMA
Film distributors will face new administrative hurdles in Argentina
Unexpectedly, the government of Argentina has decided to enforce law 23,316, enacted on May 23, 1986, regarding certain requirements for dubbing motion pictures and television programming (the “Dubbing Act”), which was only in the books and never implemented… until today. President Kirchner issued decree 933/2013, which after 27 years explains and expands the Dubbing Act (the “Decree”). Both regulations are full of confusing and contradictory clauses which will cause more than a headache to the film & TV industry and will be an invitation for litigation.
Continue Reading Film distributors will face new administrative hurdles in Argentina
Mexico’s Telecommunications’ reform ready to be signed by President Peña Nieto
On May 23, after the approval of 24 Mexican states (Aguascalientes, Baja California Sur, Campeche, Chiapas, Chihuahua, Coahuila, Colima, Durango, Guanajuato, Hidalgo, Jalisco, México, Morelos, Nayarit, Puebla, Querétaro, Quintana Roo, San Luis, Potosí, Sonora, Tamaulipas, Veracruz, Yucatán and Zacatecas) the president of the Permanent Commission (Comisión Permanente) has declared constitutional the Telecommunications’ Reform and sent the bill to President Peña Nieto for his signature and publication in the Official Gazette.
Continue Reading Mexico’s Telecommunications’ reform ready to be signed by President Peña Nieto
6 Ways to do Business Overseas While Reducing the Perils of Future Litigation
As an executive or in-house counsel, your work likely reaches across the globe.
90% of companies in the United States are involved in litigation—much of it international. American companies have increased overseas business from 49% in 2008 to 72% as late as 2010.
If you work for a medium to large corporation, you are likely working overseas or interacting with colleagues that are. This means that you are likely working around the clock putting out fires, making deals, and juggling regulatory hurdles. Are you worried of running so fast in such unknown territory that you may miss something? Do you wish you had more time to learn everything to minimize your company’s business and litigation risks?Continue Reading 6 Ways to do Business Overseas While Reducing the Perils of Future Litigation
Mexican Federal Labor Law Reform: What Companies Doing Business in Mexico Need to Know
Mexico’s new Federal Labor Law (FLL) took effect on December 1, 2012. The reform seeks to modernize Mexico’s labor law. The new FLL’s major, employment related amendments include increased regulation of outsourcing jobs, increased flexibility in hiring and payment of wages, the addition of the concepts of diversity, nondiscrimination and anti-harassment, and parental leave rights.
Previously, companies entering Mexico would set up two entities, one of which would be used to outsource employment to avoid paying worker benefits, including avoiding Mexico’s mandatory 10% employee profiting sharing requirement. Now, among other requirements, employers may only outsource employees if the outsourced employees perform work of a specialized character. In other words, under the new FLL, companies will need to evaluate the way they are structured or risk paying all employees (outsourced or otherwise) all employment related liabilities (such as notice requirements, severance payments, profit-sharing and social security).Continue Reading Mexican Federal Labor Law Reform: What Companies Doing Business in Mexico Need to Know
FCC Considers Proposal To Lift 25% Cap On Indirect Foreign Investment In Broadcast Licensees
By Brian Weimer and Douglas Svor
In August 2012, the Coalition for Broadcast Investment (“CBI”), a group comprising national broadcast networks, radio and television station licensees, and community and consumer organizations, filed a letter with the FCC requesting clarification of the foreign ownership rules contained in Section 310(b)(4) of the Communications Act. Specifically, CBI requested clarification that “the FCC will conduct a substantive, facts, and circumstances evaluation of proposals for foreign investment in excess of 25 percent in the parent company of a broadcast licensee.…” If adopted, this approach would represent a marked change of course for the FCC, which has in the past “categorically refused” to consider transactions involving investment in broadcasters above the 25% benchmark, according to CBI. Continue Reading FCC Considers Proposal To Lift 25% Cap On Indirect Foreign Investment In Broadcast Licensees
Considerations For International Clients Who Intend to Buy A Home In the U.S.
By Amy McEvoy
International buyers invested $82.5 billion in U.S. residential real estate (4.8% of total U.S. sales) according to the most recent survey conducted by the National Association of Realtors for the 12 month period ending with March 2012. According to that survey, the top states in the U.S. for international buyers were Florida, California, Arizona and Texas. That survey also finds that the top-five international buyers were from Canada, China, Mexico, India, and the United Kingdom and that Brazil also remains a major source of purchasers. Homes are bought in the U.S. for investment, vacation-use, temporary use for professional, educational (which could include providing a home to a child who is pursuing his or her education in the U.S.), and a myriad of other reasons.Continue Reading Considerations For International Clients Who Intend to Buy A Home In the U.S.
The fate of Argentina’s debt restructuring is getting closer
By Marcos Vergara del Carril
In what the Financial Times has called “the sovereign debt restructuring case of the century,” Argentina has timely submitted its proposal as requested by the U.S. Court of Appeals for the Second Circuit, with which it is willing to make payments on approximately $1.3 billion of unpaid debt obligations that stem from the country’s $95 billion debt default of December 2001.Continue Reading The fate of Argentina’s debt restructuring is getting closer
Historical Reform of the Mexican Telecommunications Industry
By Marcos Vergara del Carril
The new President of Mexico, Mr. Peña Nieto, has reached an unprecedented multi-party agreement between his party, the Partido Revolucionario Industrial (PRI), and the rest of the major political forces: the Partido Acción Nacional (PAN), which governed Mexico between 2000 and 2012, the Partido de la Revolución Democrática (PRD) and the Partido Verde Ecologista (PVE).Continue Reading Historical Reform of the Mexican Telecommunications Industry
Mexico’s Education Reform May be a Catalyst for Change
Under the leadership of President Enrique Pena Nieto, Mexico has recently approved a historic constitutional amendment reforming the country’s archaic education system. In order to push this historic reform, which is commonly known as the “education reform”, President Pena Nieto overcame great opposition from the country’s teachers union, which is the largest union in Latin America. The powerful union has been led by Elba Esther Gordillo for over thirty years and has wielded great power over elections throughout the country. In an unprecedented turn of events, the union lost the battle against the reform and its omnipotent leader was arrested and now faces embezzlement charges. If found guilty, Gordillo could face thirty years in prison.Continue Reading Mexico’s Education Reform May be a Catalyst for Change