Brazil’s Secretariat of Economic Law has ordered an investigation into the operators of Santos, the country’s largest port facility. The secretariat has ordered the port’s management to remove a fee imposed on bonded warehouses to cover what the management described as “the security requirements of the International Ship and Port Facility Security Code”.
Latin America’s competition enforcers convened at the Annual International Roundtable on Competition and Trade Policy in Coral Gables, Florida at the end of February. The event was hosted by the University of Miami’s School of Law and Steel Hector & Davis LLP.
Chadbourne & Parke LLP has named Clara Krivoy, a corporate lawyer, as its Latin America counsel. She will be responsible for coordinating the firm's regional strategy in Latin America.
Dallas-based Thompson & Knight LLP has recruited Latin American specialists Carlos E Mendez-Penate and Marcello Hallake, both from Coudert Brothers. The two will join the firm’s new office in New York, where they will join Robert H Saunders from Shearman & Sterling LLP. The three join the firm as partners.
A new government can bring more than just a change in regulatory approach; it can alter the fabric of the legal framework. Investors have tried to protect themselves against this uncertainty through complex insurance products. But when the chips are down, can you really count on them? Jeanne C. Olivier, of Shearman & Sterling LLP, argues you can if the circumstances are right, but the lessons of recent history need to be carefully considered.
Each year a bewildering array of networks tout their relative merits at conferences and meetings around the world. But how useful is membership of one of these associations, and does globalisation mean that joining one is a requirement for an international firm? Jonty Rushforth spoke to networks, firms and clients to find out.
Milbank, Tweed, Hadley & McCloy LLP has regained the top slot in research firm Dealogic’s annual review of Latin American project finance deals. The research was announced on January 11 and covers all of 2004.
Spanish telco Telefónica SA has completed the acquisition of Bellsouth Corporation’s Latin American mobile phone assets, for US$5.8 billion, reportedly creating the largest mobile operator in the region. The last part of the deal closed on January 11.
ForoCompetencia, the Latin American law-and-competition policy discussion group, is putting its archives on-line. Readers will be able to view the full thread of its discussions spanning in some cases three years.
Australian food conglomerate Burns Philp & Company Limited is divesting its yeast and bakery ingredients group assets throughout Latin America as part of the company’s bid to reduce debt from A$2.6 billion (US$1.8 billion) to A$700 million (US$494 million). The company has sold its international yeast, spice and herbs businesses, including Tones Bros, to Associated British Foods Plc (ABF) for almost A$2 billion (US$1.35 billion). The deal is expected to close on September 30.