News Stories
|
October 29, 2008 A note written by Solcargo Associate Eduardo de la Parra Trujillo was recently published by the Interamerican Copyright Institute. Solcargo defended the interests of the Mexican Society of Audiovisual Directors, Collective Management Society (Sociedad Mexicana de Directores Realizadores de Obras Audiovisuales, Sociedad de Gestión Colectiva) before the Mexican Supreme Court in a recent landmark case and the first compulsory precedent on copyright law, referred to as the Royalties Case (el Caso de las Regalías), whose ruling was published in January of this year. The website of the Interamerican Copyright Institute can be found here:http://www.iidautor.org/doctrina.html De la Parra’s note can be found here:http://www.iidautor.org/documents/doctrina/2008/trujillo.pdf
Amendments that eliminate the “plant requirement”, for the drugs import into Mexico. October 23, 2008 On August the 5th., 2008, modifications to the Regulations on Health Inputs “RIS” (Reglamento de Insumos para la Salud) were approved and published in the Federation Official Daily Gazette, including modifications to article 168 which established that in order to become a holder of a sanitary registry of a drug, the applicant must have had a drug or human consumption biological products plant or a laboratory sanitary license and to be granted such license, it was necessary to have a manufacturing plant located in the national territory. In other words, in Mexico, in order to be a holder of a sanitary registry (permit issued for the commercialization of a drug), the applicant must have obtained a manufacturer or a drug laboratory sanitary license, which meant having manufacturing premises in the country. This condition was known as the “plant requirement”. Nonetheless, with the mentioned amendments, the foreign manufacturers, may obtain the sanitary register by proving they have a license, certificate, or document as evidence that the company has been granted a permit to manufacture drugs, issued by an authority with jurisdiction in the country of origin and having as well, an agent with domicile in Mexico, without the requisite of a drug plant or laboratory in national territory. The elimination of the “plant requirement” will allow the import of drugs into the Country manufactured by laboratories with no establishment in Mexico. However, these amendments shall become effective according to the following:
Consequently, in spite of the fact that the “plant requirement” has been eliminated, the implementation of the amendments shall be made progressively; thus, today is still mandatory for certain drugs until the amendments come into force according to the listed above.
Solcargo, Sister Firm Sánchez-DeVany and 7 Lawyers Ranked in Chambers Latin America. October 21, 2008 Solórzano, Carvajal, Gonzaléz and Pérez-Correa (Solcargo) and its sister firm Sanchez-DeVanny Eseverri were recently honored in the latest edition of Chambers Latin America, an annual guide put out by Chambers and Partners that ranks the top firms and lawyers in the region. Both the firms themselves and 7 lawyers were recognized as among the best in Mexico. The Real Estate teams and their leaders within both firms were awarded high marks. The guide cites Solcargo’s “finessed and meticulous service, which always satisfies.” Solcargo’s clients benefit from partner Gustavo Carvajal Isunza’s expertise in environmental law and partner Luis Fernando González Nieves’s distinction within real estate law. Sánchez-DeVanny is similarly honored as a firm that “seamlessly blends US and Mexican law, and understands the financial implications of the deal.” Partner Rafael Villamar Ramos “knows when to push and when to hold back, and is always on the look-out for the best deal for his clients.” Additionally Sánchez-DeVanny’s Corporate and M&A (Mergers and Acquisitions) practice and its lead partner Ernesto Silvas Medinas were honored. Silvas was praised for his “focused, reliable and no-nonsense advice.” His partner Ricardo León Santacruz, known for the “clarity of his explanations, his proactive style and the quality of his advice,” was also commended, along with the tax group as a whole. Two other lawyers also were praised by the highly-regarded guide: Solcargo partner Fernando Pérez-Correa for his work in Bankruptcy and Restructuring Law, and Sánchez-DeVanny associate David Eugenio Puente Tostado as an “up and coming” lawyer in the field of Labor and Employment. Rankings: Solórzano, Carvajal, González and Pérez-Correa
First link to Chambers and Partners Sanchez-DeVanny Eseverri
Second link to Chambers and Partners
Opening of our office in Playa del Carmen, Quintana Roo SCGPC is pleased to announce clients and friends the opening of our office in Playa del Carmen, Quintana Roo for September of 2008. This decision was taken thanks to our increasing presence in Merida, Cancun and the Riviera Maya, and with the purpose of permanently establishing ourselves in the region, as successfully done in Baja since 2004. Our southeast office will serve all our practice areas as well as those areas offered jointly with Sanchez-DeVanny Eseverri, S. C. our allied firm. We would like to take this opportunity to thank our clients and friends for the trust you have placed in us since 1995. SCGPC counsels IGNIA in completion of US$20.6m Funding Round IGNIA Fund I LP, Latin America's first social venture fund, has announced the first close of US$20.6m of capital commitments. The fund seeks to identify, develop and scale-up for-profit, high growth entrepreneurial businesses in sectors with the highest potential to positively impact the lives of low-income people. Industries of focus include health care, education, housing, nutrition and basic utilities such as; water, energy, and sewage. The Fund expects to raise between $50 million to $75 million (half of which will be invested in Mexico and the rest in other Latin American countries) and will invest between US$2m to $10m over the life of a portfolio company. The first close was anchored by Omidyar Network, a philanthropic investment firm founded by Pierre Omidyar, founder of eBay Inc., with a $10m commitment. Other investors included institutions from the United States and Switzerland and private individuals from the United States and Latin America. “This is a unique group of investors because of their commitment to pioneer solutions to poverty through high growth, profitable and scalable businesses that simultaneously generate wealth for the poor and provide attractive returns to its investors,” commented Alvaro Rodriguez Arregui, IGNIA co-founder and managing partner. "We are thrilled that this will also mean actively collaborating with Omidyar Network, and we are delighted that they have deemed this initiative important to their mission.” IGNIA’s legal team for this transaction was led by Luis Fernando González and Fernando Eraña, from Solorzano, Carvajal, Gonzalez y Perez-Correa, S.C., (SCGPC) in Mexico City. Additional legal advice was provided by Ricardo León, from Sánchez DeVanny Eseverri, S.C. (SdeV) in Monterrey and Fred Enns, from Borden Ladner Gervais LLP (BLG) in Montreal. Trace International (www.traceinternational.org), organized a conference on Bribery. The event took place on July the 2nd in Mexico City’s W Hotel and counted with the participation of Gustavo Carvajal Isunza from Solorzano, Carvajal, González y Pérez-Correa, S.C., who exposed the Legal Framework on Bribery in Mexico
Roberto Vélez takes part in publication by the National Institute of Criminal Science Roberto Vélez, senior partner of the firm and head of the criminal law practice area took part in the publication El Derecho Penal a juicio, edited by the National Institute of Criminal Science (“INACIPE” by its abbreviation in Spanish). The book was released on late 2007 and is now available in local specialized bookstores. The book is actually a dictionary of criminal law expressions elucidated by the top experts (attorneys, judges and researchers) in México. It features the outlook provided by some other outstanding attorneys such as Alonso Aguilar Zínzer, Irma G. Amuchategui, Miguel Carbonell, Ricardo Franco Guzmán, Luis Rodríguez Manzanera, among many others. Mr. Vélez contributed to the book providing his opinion on several controversial matters such as abortion, organized crime and euthanasia. Gerardo Laveaga, CEO of the INACIPE coordinated the whole work.
SOLCARGO counsels Road9 in private equity transaction done by The NAFTA Fund of Mexico, LP The Yale Group, Inc., a leading advisor for private placements and mergers and acquisitions, has announced a $4.75 million equity investment in Road 9, Inc. led by The NAFTA Fund of Mexico, LP. “SOLCARGO really performed for us. Their expertise, dedication and thoroughness helped make this deal happen,” said Jim King, CEO of Road 9. “Internet and cable access to English programming is what people want when they travel to Mexico. Road 9 delivers that and a superior bundle of services to make the vacationer feel right at home … or remain in touch with it,” said Rob Gettinger, Senior Investment Banker at The Yale Group
SCGPC and SDVE named top firms by Expansion, Chambers Solórzano, Carvajal, González & Pérez-Correa (SCGPC) has been named one of Mexico’s top eight litigation firms by the leading Mexican business magazine, Expansion. In a special section honoring “The Best Lawyers in Mexico,” SCGPC is ranked as one of the top sources for litigation representation in the nation. SCGPC’s new alliance partner Sánchez-DeVanny Eseverri (SDVE) has also been recognized as one of Mexico’s best corporate/mergers and acquisitions firms, with partners Gerardo Prado Hernández and Ernesto Silvas Medina named to the list of top individual attorneys in the field. In addition, SDVE partner Ricardo León Santacruz was selected as one of Mexico’s top tax attorneys. The rankings were compiled by Chambers & Partners, publishers of Chambers Guides and an independent legal rankings firm.
SCGPC retained by Banobras for sale of Arrendadora Banobras Banco Nacional de Obras y
Servicios Publicos, SNC will carry out a sale of stock representative of
100% (one hundred per cent) of the dully subscribed and paid for Capital
Stock of Arrendadora Banobras, S.A. de C.V., by means of a bidding process,
for which it has hired Grupo Serficor, S.A. de C.V. as its financial agent
and Solorzano, Carvajal, Gonzalez y Perez-Correa, S.C. as its legal
consultant.
SCPGC supports launch of new low-income fund. Michael Chu, co-founder of Pegasus Capital, a South American private equity firm, and Alváro Rodríguez Arreguí, former CFO of Mexican glass manufacturer Vitro, have teamed up to launch Ignia, a new venture capital firm targeting the underserved needs of low income populations. The fund seeks to generate social impact while creating attractive financial returns for its investors. SCPGC played a key role in resolving cross-border fund formation legal issues, and will serve as the fund’s general counsel. Ignia, which is based in Monterrey, will concentrate its first phase of operations in Mexico before expanding into other Latin American markets. Ignia's investors are both local and global private and institutional parties interested in the opportunities at the “base of the pyramid,” a rapid growth segment in many emerging markets. Rodriguez and Chu have both played major roles within Accion International, a global pioneer in microfinance.
De la Parra to address International IP Congress Eduardo de la Parra, SCGPC Intellectual Property Associate, will address the International Intellectual Property Conference on Piracy and Counterfeiting on the topic of audiovisual piracy and its consequences for the film industry. The conference will take place in Mexico City on October 8, 9 and 10, 2007. The conference is organized by the University of Alicante and the alumni of its Master of Intellectual Property program, with the collaboration of other institutions, including SCGPC. For more information about the Congress, click here.
SCGPC enters into an associate swap with O'Melveny & Myers Solórzano, Carvajal, González y Pérez-Correa, S.C. has entered into a an associate swap program with O'Melveny & Myers LLP, in which the firms will swap attorneys during the summer in their respective Mexico City and Los Angeles offices. As reported by The Recorder and the New York Lawyer, firm leaders have described this program as an effort to raise their firms' profile and strengthen their relationships with contacts abroad. Founded in 1885, O'Melveny & Myers ranks as one of the world's leading law firms, with offices in the United States, Europe and Asia.
Strategic alliance SCGPC's & Sanchez-DeVanny Eseverri
We are pleased to announce that effective August 1st, 2007 our firms have become associated for the purpose of providing broader, better and more efficient services to our clients. In addition, and as a result of such combination, we have expanded our combined territorial office network to Mexico City, Monterrey and Los Cabos, which are the core jurisdictions of our country’s financial, industrial and hospitality industries.
http://www.solcargo.com.mx/englishfiles/announcement.htm We look forward to continue assisting you in the future and to expand our professional relationship based on our enhanced capabilities. Best regards,
SCGPC’s Real Estate Practice contributes to Trump Ocean Resort’s success We are proud to announce that one of our clients, S&P Destination Properties, a worldwide leader in the real estate and resorts business based in Canada, finished the year 2006 with a great success: they sold 81% of the TRUMP OCEAN RESORT (Tower I) units over 12 hours. This is a one-day sales record for a real estate project located in Mexico. The TRUMP OCEAN RESORT is a Hotel-Condominium Resort with 525 luxurious units located in Rosarito, Baja California, Mexico, 30 minutes south from San Diego’s downtown, developed jointly by The Trump Organization and Irongate, influenced by the modern architectural style of Luis Barragán, marketed and sold by S&P Destination Properties. The total expected revenues arising from this project are approximately US$400-500 million. The remaining TRUMP OCEAN RESORT (Tower I) units will be sold through the preview center in Rosarito and the S&P sales team will start marketing Tower II during the year 2007.
SCGPC represented OPIC in two cross-border transactions. Overseas Private Investment Corporation (“OPIC”) closed in October and November two cross-border loans to be invested in Mexico for a global amount of approximately U.S. $12,000,000. These transactions involved Mexican and U.S. investors whose collateral (both real estate and personal property) are located in Mexico. OPIC is a governmental agency of the United States of America that promotes U.S. business investment overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy.
Luis Fernando Gonzalez Nieves from SCGPC has been nominated to appear in the Guide to the World's Leading Private Equity Lawyers published by International Finance Law Review. Solorzano, Carvajal, Gonzalez and Perez Correa is proud to announce that Luis Fernando Gonzalez Nieves, Partner and Head of its Corporate and Finance group, was nominated to appear in this publication as one of the pre-eminent practitioners in this field from Mexico. This is the first time a mexican lawyer has been nominated to appear in this guide.
SCGPC represented Bebidas Purificadas, S.A. de C.V. in a transaction with PBG México. On June 27, The Pepsi Bottling Group of México acquired Bebidas Purificadas, S.A. de C.V., a company based in the North East of México that owns 27 bottling plants and 22 distribution centers. SCGPC acted as the former owner of Bebidas Purificadas S.A. de C.V., during the full transaction. Legal council to the acquisition price was not disclosed by the parties. The transaction was mentioned in different journals, including the Wall Street Journal.
SCGPC named one of Mexico’s Top Banking and Capital Markets Firms by International Finance Law Review. Solórzano, Carvajal, González y Pérez-Correa was named in the International Financial Law Review’s 2006 ranking of Mexico’s premier Banking and Capital Markets firms. SCGPC was the youngest law firm to appear on the list. Special mention was made of the Firm’s handling of a US $13 million asset-based financing for Wells Fargo and the US $10 million worth of cross-border financing structures for Rabo Bank.
SCGPC wins landmark case against the Electoral Institute of the Federal District (“IEDF”). When the IEDF revoked Geraldine Novelo’s appointment as Executive Director of Electoral Qualification of the Electoral Institute of the Federal District, in violation of her constitutional right to a hearing, the lawyers of SCGPC initiated Amparo (“shelter”) proceedings against the IEDF. The final resolution of the Administrative Federal Tribunal granted Geraldine the shelter and protection of the Federal Justice system, stating that the Electoral Tribunal of the Federal District (“TEDF”) lacked the legal authority to perform the procedure that revoked her position in the IEDF, and that the Electoral Code of the Federal District violated her right to a hearing. Geraldine was reinstated by the IEDF to her position and awarded full back-pay and other employment benefits she was denied while illegally deprived of her position. Article published in Reforma on March 20 (Spanish) Article published in La Jornada on March 9 (Spanish) Article published in La Jornada on February 13 (Spanish)
Solorzano, Carvajal, Gonzalez and Perez Correa opens new practice Solorzano, Carvajal, Gonzalez and Perez Correa has expanded its practice and now offers consulting, assistance, and representation in bankruptcy proceedings. Fernando Perez Correa, Partner and Head of the Litigation and Dispute Resolution area, was named Specialist Mediator and Trustee by the Mexican Institute of Bankruptcy (IFECOM).
Fernando Perez Correa, a founding partner of SCGPC, announced as a member of the executive committee of the Chartered Institute of Arbitrators Solorzano, Carvajal, Gonzalez and Perez Correa is proud to announce that Fernando Perez Correa, Partner and Head of the Litigation and Dispute Resolution practice, was named member of the executive committee of the Chartered Institute of Arbitrators, North America branch. Founded in 1915, the Chartered Institute of Arbitrators is one of the most experienced and prestigious institutes in providing training and qualification in Arbitration, Mediation and Adjucation.
The story, found in the (attached) June 8 – 22 edition of Expansion (Mexico’s leading business bi-weekly), proclaims, “While the US and Europe prepare for the aging of their babyboomers, the average age of Mexico’s economically active population is 36.” Further stating that it is on the shoulders of these young professionals and entrepreneurs that Mexico’s future lays. To emphasize the importance of this age group in Mexico, Expansion came up with a list of the 30 most promising 30-something professionals, calling them the “30 promises in their 30s”. Luis Gonzalez is the only lawyer to appear on the list.
Carretera Transpeninsular KM 4.5 Local C |
