News

Trust in governments key to tax amnesty’s success, hear delegates

Trust in governments key to tax amnesty’s success, hear delegates

11 December 2017

Tax amnesty programmes only work if taxpayers trust governments to protect and avoid misusing their financial information, said panellists at Latin Lawyer’s 2nd Annual Tax Summit, held in Miami last month.

Baker McKenzie makes rare lateral hire in Venezuela

Baker McKenzie makes rare lateral hire in Venezuela

05 December 2017

Baker McKenzie has recruited a tax partner to its office in Caracas, bringing the partner count there to 14.

Venezuela’s Hoet Peláez launches Russia desk

Venezuela’s Hoet Peláez launches Russia desk

04 December 2017

Hoet Peláez Castillo & Duque has recruited a Moscow-educated lawyer who will court Russian business interest in Venezuelan infrastructure and exports.

Venezuela settles with Crystallex

Venezuela settles with Crystallex

01 December 2017

Distressed Canadian mining company Crystallex has reached a potentially record-breaking settlement with Venezuela over a US$1.39 billion award from the International Centre for Settlement of Investment Disputes (ICSID) – a deal that will likely mean significant returns for the private equity firm that funded the arbitration.

Venezuela wins again as panels divide over ICSID denunciation

28 November 2017

An International Centre for Settlement of Investment Disputes (ICSID) tribunal has departed from the recent award in the Favianca case by finding that a US$100 million claim brought against Venezuela by an investor in a BMW and Mini Cooper import business was not barred by the state’s denunciation of the ICSID Convention – but ultimately declined to hear it on other grounds.

Potential for BEPS compliance mismatch “a great concern”

Potential for BEPS compliance mismatch “a great concern”

24 November 2017

The OECD’s base erosion and profit shifting (BEPS) project is “very ambitious”, but could backfire if there is a mismatch in how the framework is implemented in different jurisdictions, said lawyers at Latin Lawyer’s 2nd Annual Tax Summit, held in Miami a fortnight ago.

Orrick partner joins Dentons amid reports of Venezuelan debt instruction

Orrick partner joins Dentons amid reports of Venezuelan debt instruction

20 November 2017

Orrick Herrington & Sutcliffe managing partner David Syed has left to join Dentons in London, reportedly to lead a team that will advise Venezuela on its sovereign debt restructuring.

Coffee investor wins damages from Venezuela

Coffee investor wins damages from Venezuela

15 November 2017

An ICSID tribunal has upheld claims against Venezuela over the expropriation of a 120 year-old coffee producer during the presidency of Hugo Chávez and ordered the state to pay investor around US$42 million plus interest (bringing the award's value to US$53 million to date).

Venezuela’s restructuring - a realistic framework

Venezuela’s restructuring - a realistic framework

14 November 2017

Mark Walker, head of sovereign advisory at Millstein & Co, and senior restructuring partner Richard Cooper of Cleary Gottlieb Steen & Hamilton LLP assess Venezuela's restructuring situation as the prospect of default looms ever larger. 

Venezuela to pay damages for fertiliser expropriation

Venezuela to pay damages for fertiliser expropriation

09 November 2017

An International Centre for Settlement of Investment Disputes (ICSID) tribunal has ordered Venezuela to pay damages to Swiss subsidiaries of Kansas-based Koch Industries for the expropriation of a fertiliser plant seven years ago.