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News

2020


03

April 03, 2020

Banking and Finance

Newsflash - COVID-19 - CNBV issues recommendation regarding the payment of dividends, repurchase of shares and other benefits of stockholders of banking institutions

With the purpose of strengthening banking institutions in Mexico, on March 31, 2020, the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“CNBV”), issued a recommendation so that such institutions abstain from paying dividends, repurchasing...

03

April 03, 2020

Compliance, Anti-corruption and Investigations

Newsflash - COVID-19 Compliance and Anti-Money Laundering (AML)

The Financial Intelligence Unit (UIF) and the Mexican Internal Revenue Service (SAT) in a joint communication indicated that, in case of any delay in the regulatory compliance in AML obligations as a result of COVID-19, obligated parties can request before the SAT an authorization to implement a...

03

April 03, 2020

Banking and Finance

Newsflash - CNBV issues special accounting treatment for banks

On March 25, 2020, in an effort to mitigate the economic effects of the COVID-19 health contingency and in response to requests made by financial institutions in Mexico, the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“CNBV”), issued...

03

April 03, 2020

Banking and Finance

COVID-19 NEWSFLASHES

Below you will find relevant news related to the COVID-19: CNBV | Recommendation regarding the payment of dividends, repurchase of shares and other benefits of stockholders of banking institutions  CNBV issues special accounting treatment for banks Compliance and Anti-Money Laundering...

02

April 02, 2020

Banking and Finance

Newsflash - COVID-19 – Declaration of Sanitary Emergency due to Force Majeure

On March 30, 2020, the National Health Council published a decree in the Official Federal Gazette (the “DOF”) pursuant to which it declared the epidemic generated by the COVID-19 disease as a state of sanitary emergency due to force majeure and authorized the Ministry of Health to...

02

April 02, 2020

Banking and Finance

Ritch Mueller represented BBVA Bancomer in connection with a loan from Rassini

Ritch Mueller represented Bancomer, in a senior secured loan agreement of USD$470 million to Rassini, to refinance existing debt. Read note (only available in Spanish) Other media: Global Legal Chronicle...

31

March 31, 2020

Competition and Antitrust

Newsflash - COFECE's position with respect to the COVID-19 health emergency

The Federal Commission of Economic Competition (“COFECE” or the “Commission”), as a result of the current health emergency, has joined the efforts of various agencies of the Mexican Federal Government to reduce the risk of the spread of the virus, by issuing a ruling...

29

March 29, 2020

Tax

Newsflash - COVID-19 Tax Considerations (in the absence of tax incentives)

It is a reality the negative economic impact that companies and individuals around the world are facing as a consequence of the COVID-19 pandemic. Nevertheless, the Mexican Government has decided not to grant any fiscal or tax incentives in connection with federal taxes, such as income tax, VAT or...

26

March 26, 2020

Banking and Finance

Newsflash - COVID-19 – Potential Effects on Contractual Obligations

As the effects of COVID-19 pandemic continue to be felt across the globe, many governments have implemented measures aimed at preventing the spread of the disease. Such measures may have significant impacts on the ability of parties to perform their obligations pursuant to international commercial...

16

March 16, 2020

Banking and Finance

Crédito Real and Marevalley Corporation’s $110 Million Credit Facility

Ritch Mueller represented Credit Suisse, in an unsecured credit agreement of USD$110 million to Crédito Real and Marevalley Corporation. Read note  Other media: Abogados.com.ar (only available in Spanish)...

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