Top 5 Announced China Outbound Deals

Morgan & Morgan advised Avianca Holdings, S.A., a company incorporated under the laws of the Republic of Panama (the “Company”), in launch and consummation of an exchange offer of the Company’s previously issued US$550,000,000 8.375% Senior Notes due 2020 for newly issued US$550,000,000 8.375% Senior Secured Notes Due 2020 (the “Exchange Notes”).

On May 19, 2016, the concept of a “Bankruptcy,” as the legal term was defined, ceased to exist under Panamanian law. Law 12 of 2016 (the “Insolvency Law”) entered into force on that date and introduced new proceedings into our legal system. These proceedings are referred to as Reorganization and Liquidation.

The Panamanian government has issued Law 99 of October 11, 2019, which establishes a General Tax Amnesty Law (“Amnesty”) that includes the elimination, for a limited period, of the penalties and surcharges caused by non-payment of the obligations with the National Treasury for corporations and private interest foundations. This law also includes amnesty for various types of interests and penalties resulting from non-payment of other taxes (for...

Panama’s Labor Code, in effect since April 1972, with some changes in the last years, regulates the relationship between capital and labor, based on the principles of social justice established in the Political Constitution of the Republic and it creates a special State protection as a benefit of the employees.

In order to comply with the international guidelines regarding corporate transparency, the government of Panama enacted Law 52 of October 27, 2016 in the Official Gazette, which establishes the obligation for Panamanian companies and other entities to maintain accounting records, financial records and supporting documentation of all transactions that took place during the last five (5) years, so that their financial status can be easily...

Jamaica Tourism Minister, Hon. Edmund Bartlett, (seen right in photo) in discussion with Chilean Ambassador to Jamaica, His Excellency Euduaro Javier Bonilla Menchaca (second right) during his courtesy call at the Minister’s New Kingston Office on Wednesday October 30, 2019.

M&A Report (October 2019)

Global sports over-the-top (OTT) service DAZN has won Brazilian rights to exclusive live matches from Liga MX, Mexican soccer’s top-flight, until the end of the 2020/21 season.

Last Monday, September 16th, it was held in Belo Horizonte the event “IOP MEETINGS”, which discussed the future and opportunities in the energy sector in Brazil, with the participation of Paulo Brant (vice governor of Minas Gerais) and Almirante Bento Albuquerque (Minister of Mines and Energy of Brazil).