Market: Colombia

New mining code to improve competitiveness of Colombian mining industry

A new Colombian mining code approved by the Colombian Congress and sanctioned by the Colombian Executive on August 15 has been promulgated as Law 685 of 2001.

31 August 2001

Gómez Pinzón & Asociados acts in sale of chemical company assets

Gómez Pinzón & Asociados has acted as legal counsel to Akzo Nobel and its subsidiary in Colombia (Interquim), together with Borden Chemical International, in the sale of Borden’s Colombian assets.

17 August 2001

Alejandro Silva joins Chadbourne & Parke's project finance group and Latin American practice

Alejandro Silva, until recently managing partner of the Bogotá law firm Silva, Piñeros & Gómez, has joined Chadbourne & Parke LLP’s project finance group and Latin American practices as counsel, based in Washington DC.

17 August 2001

Blue Sentinel chooses Figueroa Sierra to conduct due diligence

Figueroa Sierra & Asociados is one of three local law firms selected by US corporation Blue Sentinel to conduct due diligence in Colombia. The arrangement forms part of a Latin American due diligence network currently being established with the assistance of Chadbourne & Parke LLP's New York office.

10 August 2001

Consorcio Andino appoints Benedetti & Benedetti as local counsel

Benedetti & Benedetti has been appointed local counsel of Consorcio Andino, a joint venture formed by COSAPI of Peru; OTEPI of Venezuela and Schrader Camargo of Colombia. Consorcio has been successful in its tender for the new power line across Panama at a cost of US$49million.

10 August 2001

Figueroa Sierra advises in creditors' agreement

On May 14 the Colombian Superintendency of Corporations revoked its approval of the Carboandes SA creditors’ arrangement ('Concordato') formula, given on February 27, 2001.

03 August 2001

Colombian and US law firms advise in telecommunications refinancing deal

BellSouth Colombia SA has closed a deal involving the execution of a waiver and amendment to a US$750-million financing concluded in December last year.

27 July 2001

Brigard & Urrutia and Shearman & Sterling assist in credit agreement

On July 16, 2001, Cementos del Caribe - a company pertaining to the Argos group, listed in the Colombian Stock Exchange, executed a US$40 million Credit Agreement with ABN Amro Bank NV, Citibank NA - Nassau Branch, Banco Corfinsura Internacional Inc and Bancolombia (Panamá) SA.

27 July 2001

Trademark lawyer joins Baker & McKenzie's Bogota office

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.

12 July 2001

Colombia ordered to drop customs 'service' charge

By means of Resolution 516 of June 12, 2001, the Secretariat of the Andean Community - formerly the Andean Pact - has ruled that a customs service charge on imports entering Colombia which was introduced as part of the tax reform which took effect on January 1, 2001 is in fact a levy and as such violates the rules of the Andean Community Agreement.

12 July 2001

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