News

Structural tax amendment to be discussed in Ecuadorian Congress

28 January 2001

In response to inconsistent revenue levels due to fluctuating prices of the country’s chief exports (petroleum and its deviatory products), Ecuador’s Economic and Finance Ministry and the Internal Revenue Service have developed a draft structural tax amendment to be submitted to the National Congress for discussion.

Morgan Stanley advises Antelco on Paraguayan privatisation

27 January 2001

Paraguay's National Reform Secretariat awarded the contract to privatise of state telecom operator Antelco to investment bank Morgan Stanley. The provisional decision was announced on January 26.

Machado Meyer split produces new firm

25 January 2001

On January 24, the new firm of Souza, Cescon Avedissian, Barrieu e Flesch - Avogados formally opened for business in São Paulo following a split in leading Brazilian firm Machado Meyer Sendacz e Opice.

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

24 January 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.

Venezuela's Privatisation Committee will open bids mid-March

24 January 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.

Landmark ruling by CASS in favour of Chilean wine

24 January 2001

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

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

24 January 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.

Canada-Brazil aerospace subsidies dispute

24 January 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

20 January 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.

Substitute regulation of the investment promotion and guarantee law in Ecuador

18 January 2001

On January 17, Executive Decree 1132, the Investment Promotion and Guarantee Law and the Substitute Regulation, was issued, providing that the state, through all of its entities, is required to ensure that investments are made with all the guarantees established in the Constitution.