Santiago firm Morales, Noguera, Valdivieso & Besa has advised Biwater SA, an affiliate of British corporation Biwater and Dutch company Nuon, in the private bidding for 100 per cent of Empresa de Servicios Sanitarios SA. The latter holds the sanitation concession north of Santiago with its affiliate Ecogener SA (both affiliates, in turn, of AES Gener, a multinational electric power corporation).
The trademark practice of Raisbeck, Lara, Rodriguez & Rueda (Baker & McKenzie, Bogota) has recruited Colombian trademark specialist Ricardo Metke, who joins the firm as a partner.
Marun Jazbik has been appointed as co-head partner of Allen & Overy’s Latin America department at the firm’s New York office.
White & Case SC is expanding its tax practice with the appointment of two new specialists to its Mexico City office. New partner and tax department head Manuel E Tron is joined by Alfredo Gutiérrez Ortiz-Mena as senior associate.
Antonio Farroco Jr and Dilson Lobo, partners of the Rio de Janeiro office of Brazilian firm Trench Rossi e Watanabe (associated with Baker & McKenzie), have quit after 13 years to start their own practice, Farroco & Lobo Advogados.
Hughes Hubbard & Reed LLP has promoted Amy Dulin and Bonnie Teller to corporate counsel in the Latin America Practice Group, based in the Miami Office. Timothy McCarthy, head of the Miami Office and Chair of the Latin America Practice Group and Beatty Barfield Page, Chair of the Financial Services Practice, announced the promotions.
The newly created regulations on the convergence regime for foreign trade operations were introduced by the Resolution No.258/2001 issued by the Ministry of Finance (Resolution 258) and published in the Official Gazette on July 2, 2001.
BOVESPA has implemented the first phase of the New Market by introducing the list of newly certified level 1 companies. Historically, Brazilian capital markets have never been a major source of financing for domestic companies. The companies previously raised capital through governmental incentives or through the government’s active participation in those companies’ capital.
Circular 3037, issued by the Central Bank of Brazil on May 31, 2001 introduces new rules applicable to the investment abroad of non-financial Brazilian companies through "international contribution of stock and other assets".
A treaty between Venezuela and the Denmark aimed at avoiding double taxation and tax evasion was published on June 14, 2001 in Official Gazette No. 37,219).