On October 20, 2000, Uruguay's House of Deputies approved a bill which, among other things, restricts the scope of ANTEL's exclusivity to 'basic telephony', defined as local traffic effected through fixed telephones.
M & M Bomchil and Bado Kuster advised paper producer Fanapel in a stock purchase agreement which was signed in New York on October 20, 2000.
On October 13 2000, France's Groupe Danone and the world's number three brewer, Brazilian Ambev (Brahma and Antartica), took control of Uruguay's Compañía Salus.
On October 11, 2000, the Central Bank of Uruguay (BCU) approved Circulars # 1712 and # 1713 containing new rules to prevent money laundering (ie the use of Uruguay´s financial system to legitimate assets originating in criminal activities.
The Decree, enacted on October 3, 2000 empowers the Executive, subject to the prior approval by the Audit Office, to authorise the particular regimes and contracting procedures based on principles of openness and equality of the bidders, provided market conditions and the goods and services involved prove advantageous to the government.
Uruguay was the only Mercosur country and one of only three Latin American countries that did not have a consumer protection law. An extensive Consumer Relations Act that took effect on August 27, 2000 drastically changes this situation.
Act No 17.243 approved by the Executive on June 29, 2000 covers a wide range of topics including investment promotions, tax, antitrust, labour, company, administrative, public, criminal, mutual funds.
On June 13 the Parliament approved an Act intended to implement the understandings between the Colorado Party and the Blanco Party.
The decree, approved on May 30, 2000 lifts the ban on the importation of satellite TV receivers imposed only four months ago.
As of May 1, 2000 Dr Jorge Marabotto has joined the firm as co-director of the litigation department.