The National Monetary Council (CMN) approved new rules on investment in the private pension funds, which are contained in Resolution No. 2720 issued by the Central Bank of Brazil on April 24, 2000.
The Beer Group Backus (Unión de Cervecerías Backus & Johnston SA) purchased a majority stake in Compañía Cervecera del Sur del Perú SA, the second largest beer manufacturer in Peru and the only remaining independent one.
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.
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.
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 has announced that former World Bank telecoms specialist Dr Bjrn Wellenius has joined the firm's global telecommunications practice.
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.
A new law (No 17.228) of April 2000 puts an end to an outdated security system which highly restricted access to credit.
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.
Rio-based Veirano e Adovgados Associados has boosted its litigation, real estate and securities / capital markets practices with three new hires.