Market: Colombia

The Central Bank amends the special exchange rules of the hydrocarbons and mining industry in Colombia

Under the local Foreign Exchange Statute, Colombian residents are generally required to channel exchange transactions through the authorised exchange market intermediaries (financial institutions and exchange houses), and are subject to certain restrictions applying in regard to the payment of expenditures abroad (ordinary exchange rules).

25 May 2001

New partner for Silva & Piñeros

Colombian firm Silva & Piñeros has recently changed its name to Silva, Piñeros & Gómez following the naming of Carlos José Gómez as partner.

18 May 2001

Colombia digests arbitration awards

Some recent arbitration awards arising from contractual disputes between the Colombian State or governmental entities and foreign companies have spurred public debate both in the Colombian press and in Congress.

11 May 2001

Former National Tax Director joins Lewin & Wills

Lewin & Wills has recruited Horacio Ayala to its tax department. Ayala recently returned from Chile after serving as Consul General of Colombia there and has a vast experience in tax and related areas.

03 May 2001

Zuleta, Garrido, Araque & Jaramillo wins in Colombian arbitration

On April 20, 2001 a Colombian arbitration tribunal issued a decision ordering Telecom (the national telecommunications company) to pay Nortel Networks US$97 million as advance payment of the salvage value under one of the association contracts entered into between Nortel Networks and Telecom.

03 May 2001

Sullivan & Cromwell and Gómez Pinzón advise on World Bank guarantee

The Republic of Colombia has issued a US$750-million aggregate principal amount of 9.75 per cent Amortizing Notes due 2011, partly guaranteed by the World Bank. The Bank took advice throughout negotiations on the transaction from Sullivan & Cromwell and in Colombia from Gómez Pinzón & Associados.

27 April 2001

Colombia-US agree to swap tax information

Representatives of Colombia and the US have signed an agreement to exchange information for purposes of the accurate determination, assessment and collection of taxes.

20 April 2001

New Telecoms Bill goes before Congress

The Ministry of Communications is expected to present a Bill shortly that will comprehensively regulate the telecommunications sector in Colombia.

12 April 2001

Brigard & Urrutia called into Colombian telecoms dispute

Comcel is seeking legal advice on a possible breach by Colombia of its obligations under the WTO.

06 April 2001

PepsiCo acquires Quaker Oats in Colombia

PepsiCo was represented in its recent acquisition of Quaker Oats in Colombia by a team led by Eduardo Zuleta-Jaramillo of Zuleta Garrido Araque & Jaramillo in Bogota.

09 March 2001

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