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A new law (No 17.228) of April 2000 puts an end to an outdated security system which highly restricted access to credit.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.
'Rating the Regulators' survey conducted by Global Competition Review finds balance between dissatisfaction and satisfaction with the Economic Defence Administrative Council in the six key areas surveyed.
The Securities and Exchange Commission of Brazil (CVM) has altered the rules governing the issuance of BDRs (Brazilian Depositary Receipts) with the aim of removing all restrictions which affect foreign internet companies interested in issuing BDRs. Instructions 255 and 321 have been revoked, and Instructions 331 and 332 are now in effect.
In April, Light-Serviços de Eletricidade SA and Eletropaulo Metropolitana Eletricidade de São Paulo SA successfully completed what is believed to be the largest rollover of foreign debt in Brazil since the outbreak of the Russian financial crisis in 1998.
Three companies, one French and two Mexican have pre-qualified to present bids in April for Nicaragua’s state owned telecoms company (ENITEL).
The leading Bogotá firm, which until now has dealt with IP matters through a cooperation with a separate specialised IP firm, Brigard & Castro, has decided to start dealing with IP matters in-house, setting up a new department headed by Carlos Umaña T and Maria Fernanda Castellanos. It will focus on IP and specifically on consumer protection law and competition matters. The decision to set up the new department marks the end of the existing arrangement with Brigard & Castro.
For foreign banks doing business in Mexico, March 31 is the last day to file for registry renewal in the Foreign Bank Registry of the Mexican Tax Administration Service (SAT).