News

Latin American Investment Guarantee Company Ltd (LAIGC) formed

14 April 2000

Corporación Andina de Fomento (CAF), the Caracas-based Andean development bank signed a joint venture agreement, incorporated on April 14, with American International Group (AIG) to form the Latin American Investment Guarantee Company Ltd.

Republic of Ecuador defeats US$965 million lawsuit

11 April 2000

On 11 April it was announced that a US$965 million lawsuit brought by an American electric power company doing business in Ecuador against the Republic of Ecuador was rejected by a U.S. Federal Court in Washington, D.C. on 31 March.

Right to exploit satellites for transportation of telecommunications signals

05 April 2000

On April 5, 2000 the National Telecommunications Agency (ANATEL), approved the regulation on the right to exploit satellites for the transportation of telecommunications signals (Resolution 220).

Clifford Chance recruits telecoms consultant

01 April 2000

Clifford Chance has announced that former World Bank telecoms specialist Dr Bjrn Wellenius has joined the firm's global telecommunications practice.

Reformation of criminal justice system planned

01 April 2000

Chile is changing from a written criminal justice system to an oral one, similar to the American judicial system. This reform will gradually be enacted nationwide but in the first stage will be incorporated in two regions of the country. This innovation will require a great deal of effort for law firms, especially those specialised in criminal law, who will have to train their members in those skills required for oral procedures, different from those used in Chile until now.

New Pledge System

01 April 2000

A new law (No 17.228) of April 2000 puts an end to an outdated security system which highly restricted access to credit.

Tozzini, Freire, Teixeira e Silva adds new partner to its international law practice.

01 April 2000

Gilbert Lemos Zeiger will be based in the firm's São Paulo office, concentrating in corporate law, with special focus on aircraft financing and international transactions. He was admitted to the São Paulo Bar in 1982. Zeiger has represented foreign lessors and lenders in cross-border transactions involving commercial and corporate aircraft, medical equipment, computers and manufacturing equipment.

New hires at Veirano e Advogados Associados

01 April 2000

Rio-based Veirano e Adovgados Associados has boosted its litigation, real estate and securities / capital markets practices with three new hires.

Three out of five for Competition Regulator

01 April 2000

'Rating the Regulators' survey conducted by Global Competition Review finds balance between dissatisfaction and satisfaction with the Economic Defence Administrative Council in the six key areas surveyed.

Securities and Exchange Commission alters BDR's governing rules

01 April 2000

The Securities and Exchange Commission of Brazil (CVM) has altered the rules governing the issuance of BDRs (Brazilian Depositary Receipts) with the aim of removing all restrictions which affect foreign internet companies interested in issuing BDRs. Instructions 255 and 321 have been revoked, and Instructions 331 and 332 are now in effect.