Allende & Brea, Posse Herrera Ruiz, Carey, Posadas, Posadas
& Vecino and D’Empaire Reyna Abogados are helping
Canada's Fairfax Financial buy the commercial and consumer
insurance operations of American International Group (AIG) in
Argentina, Colombia, Chile, Uruguay and Venezuela.
Debevoise & Plimpton LLP in London and New York, Brigard &
Urrutia Abogados in Bogotá, Marval, O’Farrell &
Mairal in Buenos Aires, Claro & Cía in Santiago,
Pérez Bustamante & Ponce Abogados in Quito, Ferrere
(Uruguay) in Montevideo and Raffalli de Lemon Halvorssen Ortega y
Ortiz in Caracas advised AIG.
Allende & Brea is coordinating the US$240 million deal for
Fairfax from Buenos Aires. Dentons is representing the Canadian
company on the European portion of the transaction.
The deal was signed on 18 October and remains subject to
Counsel to AIG
Debevoise & Plimpton LLP
Partners Andrew Bab and John Vasily, and associates Angela Lee
and Kristen Matthews in New York, and partners David Innes, James
Scoville and Richard Ward, international counsel Timothy McIver,
and associates Timothy Merchant, Paul Eastham, Megan Atkinson,
Christopher Garrett, Laurence Hanesworth, Benjamin Lyon and
Anne-Mette Heemsoth in London
Brigard & Urrutia Abogados
Partners Dario Laguado and Lucas Moreno, and associates Lucas
Fajardo, Christian Díaz and Juan Sebastian Pardo in
Marval, O’Farrell & Mairal
Partners Patricia Lopez Aufranc and Fernando Hernández,
and associate Claudia Paluszkiewicz in Buenos Aires
Claro & Cía
Partner Rodrigo Ochagavía and associates Juan León
and Jaime Salas in Santiago
Partner Geraldine Ifrán and associates Belén
Hernández, Walter Planells, José María
Grondona and Martín Fridman in Montevideo
Pérez Bustamante & Ponce Abogados
Partners Diego Pérez Ordóñez and Juan
Gabriel Reyes, and associates Natalia Almeida, Andrés Brown
Pérez and Carmen Simone in Quito
Raffalli de Lemon Halvorssen Ortega y Ortiz
Partner José Manuel Ortega, associates Anais Figueroa*
and Isabel Ayllon in Caracas
*temporarily allocated full-time to AIG's local legal
Counsel to Fairfax
Allende & Brea
Partners Martin Argañaraz Luque, Jorge Mayora, Marcos
Patron Costas and Laura Santanatoglia, and associates Laura Kurlat,
Mariana Berger, Paula Costas, Santiago Cornejo, María
José Sanchez, Julieta Juan, Mariana Tomé Fuentes,
Analía Duran, Andres Chomczyk and Mauro Meloni in Buenos
Posse Herrera Ruiz
Partner Óscar Tutasaura and associates Diana Salazar and
Lina Lineros in Bogotá
Partner Marcos Rios and associates Matias Vergara, Fernanda
Anguita and Patricio Laporta in Santiago
Posadas, Posadas & Vecino
Partner Tomás Gurmendez and associate Andrés
Aznares in Montevideo
D’Empaire Reyna Abogados
Partners Fulvio Italiani, Inés Parra and Victorino
Marquez, and associates Paula Serra Freire and Franco Silva in
Counsel Keith Stein and associate Kris Miks in Toronto, and
partner Martin Mankabady in London
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The Panamanian Law 52 of October 27, 2016 (the "Law"), which relates to accounting records and the annual franchise tax of Panamanian entities (corporations and foundations), came into effect on 1 January 2017.
Por medio de Oficio 220-047982 del 29 de Febrero de 2016, la Superintendencia de Sociedades estableció que el domicilio del representante legal de una sociedad nacional debe corresponder a un lugar determinado dentro territorio nacional.
In order to remunerate the invested capital, Brazilian companies are allowed to distribute earnings to their shareholders in the form of dividends or under the concept of interest on net equity (juros sobre o capital próprio – JCP).
Investments by foreign investors in Brazilian financial and capital markets are regulated by the National Monetary Council (the "CMN"), the Brazilian Securities and Exchange Commission (the "CVM") and the Brazilian Central Bank ("Central Bank").
In 2014, the Brazilian Securities and Exchange Commission presented to a public hearing a draft of an Instruction that proposes to change the definition of the category of "qualified investors" of CVM Instruction No. 409.
The commercial agency contract, according to the Brazilian Legal System, is provided for by articles 710 to 721 of the Civil Code.
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