News

New decree allows the modernisation of the free market competition criteria

09 February 2001

Decree 89/2001, regulating Competition Law No. 25,156 was published in the Official Gazette on January 30. Law 25,156, published on September 20, 1999, sought to revamp antitrust law and to modernise the free market competition criteria introduced by Law 22,262, which, following the optimism of its predecessor, Law 12,906, had always lagged far beyond economic reality.

The Hague Convention on Legalisation of Foreign Public Documents enters into force in Colombia

09 February 2001

On January 30, 2001, the Convention on the ‘Apostille’, signed in The Hague on October 5, 1961 and approved by the Colombian National Congress through Law 455 of August 4, 1998, has entered into force in Colombia.

Merger of leading Ecuadorian firms

09 February 2001

Two of the leading firms in Ecuador, Pérez, Bustamante y Pérez, one of the country’s oldest firms, and Estudio Jurídico Fabián Ponce O y Asociados C Ltda, have merged to form Pérez, Bustamante y Ponce.

Colombia's three largest airlines, Avianca, Sam and Aces are discussing a possible merger.

02 February 2001

The new airline combining Avianca, Aces and Sam would combine assets for $700m and would have a market share of 50 percent of Colombia's international passengers. The three companies are planning to merge in order to improve its client services and be able to face the increasing competition by international airlines.

Landmark ruling by CASS against Chilean wine

02 February 2001

Venezuela’s Antidumping and Subsidies Commission (CASS) has concluded its investigation of wine imports originating and produced in Chile.

Venezuela's Privatisation Committee will open bids mid-March

02 February 2001

Venezuela’s Privatisation Committee (‘FIV’) will be selling 51 per cent of state-owned integrated utility C A Energía Eléctrica de Venezuela (‘Enelven’, Venezuelan Electric Energy Company) in mid-March. The Investment Fund, (known as El Fondo de Inversiones), the Ministry of Energy and Mining, (Ministerio de Energía y Minas) and Enelven are all using their own in-house lawyers for this project.

Venezuela's largest consumer products company buys controlling stake in smaller rival

02 February 2001

Primor Inversiones, a subsidiary of Primor Alimentos, which handles Polar’s food and beverages portfolio, has bought 100 per cent of Mavesa, the leading local consumer products maker, and Mavesa’s American Depositary Receipts (ADRs) in a transaction worth US$510 million.

Opening of new local branches of foreign banks duly authorised to operate in Brazil

02 February 2001

The Brazilian Monetary Council has decided to simplify the bureaucratic procedure required for the opening in Brazil of new branches of financial institutions under direct or indirect control of foreign capital already authorised to operate in the country.

Canada-Brazil aerospace subsidies dispute

02 February 2001

Canada and Brazil are moving closer to an all-out trade war in a dispute over aerospace subsidies that is testing the limits of the World Trade Organisation dispute resolution system.

Brazilian recycler and Norwegian company in joint venture

02 February 2001

Azevedo Sette Advogados has been retained by TOMRA System ASA from Norway to assist it in a strategic alliance to be made with LATASA (Latas de Alumínio SA) to develop a new process of recycling aluminum cans in Brazil.