Open Source Content Management

The IBA Arbitration Committee has announced its latest slate of officers at the association’s annual meeting in Rome, and our Partner Adrián Magallanes was appointed as treasurer.

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Our Partner Fernando Carreño gave his opinion about COFECE's fine imposed to steel manufacturer Villacero due to anticompetitive harm following the accquisition of Savoy International Investments in 2010. 

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On September 30, the U.S. and Canadian governments finalized negotiations to allow for the “United States, Mexico, Canada Agreement” (USMCA), which will substitute the North American Free Trade Agreement (NAFTA) signed by Mexico, the U.S. and Canada.

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Von Wobeser y Sierra S.C. advised Creation Investment Capital Management, LLC in the investment process they carried with Pluscorp in Mexico, turning into minoritary shreholders of this Mexican financial institution.

To read more about about the transaction, please download PDF.  

The newly elected government has stated on several occasions that beginning on December 1st it will introduce a series of legislative changes in the labor area, according to the various promises made in the campaign, as well as the “National Project 2018-2024”, a document presented by the transition team of the President-elect, describing the main themes of the public policies the new government will have to adopt. In that regard, today in the Senate of the Republic, ILO Convention 98 was ratified, which establishes the principles of freedom of association and collective bargaining negotiations. This ratification was unanimous and will be turned over to the Federal Executive for publication in the Official Federal Gazette.

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On September 17, 2018 amendments to the Statutory Charter of the National Commission for the Protection and Defense of Users of Financial Services (“CONDUSEF”) were published in the Official Federal Gazette. Their purpose is to adjust the organizational structure and functions of the CONDUSEF, in order to provide users expedited protection mechanisms consistent with the new Financial Technology Institutions (“FTI”) contemplated in the Law regulating Financial Technology Institutions, also called the “Fintech Law”. 

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On September 10, the Ministry of Treasury and Public Credit, the National Banking and Securities Commission and the Bank of Mexico, issued and published in the Official Federal Gazette (the “DOF”) the General provisions applicable to the Financial Technology Institutions, the general provisions referred to in Article 58 of the Law to Regulate Financial Technology Institutions (the “Provisions”) and the Circular 12/2018 directed to the Electronic Funds Transfer Institutions, regarding the general provisions applicable to the operations of the Electronic Funds Transfer Institutions(the “Circular”), complying with the deadlines indicated in the Law for Regulating Financial Technology Institutions published on March 9th of this year in the DOF.

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On September 4 the Ministry of Finance and Public Credit published two new resolutions on credit matters and information required by authorities from Financial Technology Institutions (FTI) in the Official Federal Gazette.

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We would like to share with you an article written Global Arbitration Review that mentions our Partner Claus Von Wobeser who participated as ICSID ad hoc committee president in an arbitration that upheld a US$150 million award won by Standard Chartered Bank Hong Kong against a Tanzanian state-run electricity supply company.

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