The effects of the pandemic have prompted Latin American governments to adopt measures to promote public-private partnerships (PPPs), public works and privatizations. Garrigues provides an analysis of the situation and trends in the infrastructure and project finance markets in Latin America, where these types of projects are clearly on the rise.
Some Latin American countries have seemed reluctant to incorporate in their domestic laws the measures proposed by of the Regional Agreement on Access to Information, Public Participation and Justice in Environmental Matters in Latin America and the Caribbean (the Escazú Agreement). We provide an overview of the current position of Chile, Colombia, Peru, Mexico and Brazil in respect of this international treaty, signed on March 4 2018 in Costa Rica, and due to enter into force on April 22 2021.
Debt markets continue to feel the calming — even sedative — effects of the battery of support measures rolled out to counteract the decline in business activity due to the effects of COVID-19. Jumbo deals involving non-performing loans (NPLs) are expected to resume in the last quarter of 2021. Until then, we will witness two very interesting developments until then: single name sales and the appearance of new players in the debt market.
On march 4th 2021, Supreme Decree 039-2021-PCM which approves the Regulation of Law Nº 31112 – the Merger Control Law, was published on the Peruvian Official Gazette. Through the Regulation, important clarifications are made on certain figures of this regime (methodology for calculating thresholds, assumptions for ex officio investigations, registration of conditions, etc.), as well as the detailed administrative procedures to be followed (notification under regular procedure or by simplified procedure, commitment procedure, review of conditions, ex officio actions and voluntary notification, as well as administrative sanctioning procedure).
After arduous legal battles in the Mexican courts with negative results for the Mexican Government in connection with a variety of regulatory and administrative provisions that de facto set back the 2013 Energy Reform, the President of Mexico submitted before the Mexican Congress a bill amending various provisions of the Electricity Industry Law (the Bill). The Bill was filed as a "preferred" bill, so it is subject to a fast-track procedure of discussion, voting and, if applicable, passing.
We are pleased to share our first issue of 'Latin American Viewpoints'. We provide a complete-picture insight on key new legislation, covering analysis of new developments, trends and viewpoints across the region, from every angle of business law.
The situation caused by the pandemic has brought an increase in breach of contract proceedings around the world, including in Latin America. It is therefore helpful to know how concepts such as fortuitous, force majeure, and hardship events are defined. We take a look at these in the legislation of Chile, Colombia, Mexico and Peru.
In this article we describe the factors determining the tax residence of individuals and legal entities or the existence of permanent establishments in the main Latin American countries, and in Spain and Portugal, along with the interpretation methods that in some cases the tax authorities of these countries have issued to take into account (or not) distortions caused by the health crisis.
Teleworking, working from home or remote working gained particular importance in 2020 due the various measures adopted by governments and employers to curb COVID-19 infections. So an understanding is needed of the new rules and situation of the legislation on this subject in the various jurisdictions. We examine below the current situation in a few Latin American countries such as Chile, Colombia or Peru.