Santiago de Chile
On January 22, an environmental protection bill came before the Chilean Congress that would set stiffer penalties for environmental crimes and grant the Chilean environmental authority more oversight and prosecution powers.a
As from January 9, 2019, the new maximum monthly base for calculating health, retirement and occupational accident and professional illness social security contributions stands at 79.3 Unidades de Fomento (UF) (US $3,250). The new maximum monthly base for unemployment insurance for 2019 was set at 119 UF (US $4,900).
Garrigues has hired Claudio Moraga Klenner as head of the public law practice at the Santiago de Chile office. He is also joined by Sebastián Hassi Troxler. Both professionals come from Chilean firm Miquel, which specializes in public law.
Garrigues has brought Jaime de Larraechea Carvajal on board as partner at the Santiago de Chile office, reinforcing its financial, corporate and M&A practice in the country.
Garrigues has been named Capital Markets Firm of the Year in Chile at the 13th Annual Americas awards held by International Financial Law Review (IFLR). The award ceremony, held in New York, recognized the advice provided by firms in the region that participated in the most innovative cross-border deals and demonstrated their knowledge and experience in strategic areas such M&A, banking and finance law, and restructuring.
On May 14, 2018, the Chilean President Sebastián Piñera and the Minister of the Economy José Ramón Valente announced: (i) that a bill would be sent to the Chilean legislature to promote the government’s “Pro-Investment Agenda” (the “Bill”); and (ii) that the government will create a Chilean Sustainability Project Management Office (“OGPS”).
The Latin American team was recognized by the legal community for its participation in the bond issue capitalized by Celeo Redes in the local and international markets. The transaction was named Latin American Refinancing Deal of the Year at the New York ceremony of the Latin American awards held by IJ Global, a specialist in the infrastructure and project finance sector.
Garrigues has hired Barbara Vera, a lawyer with more than 10 years’ experience in labor law in the Chilean market, to strengthen and lead the firm’s labor and employment law department in Chile.