67

The General Directorate of Multinational Companies headquarters announced the beginning of work permit applications for Dependents of SEM Executives.

The General Directorate of Multinational Companies Headquarters through the Communication Note No. 1 of January 12, 2023, indicated that as from this year 2023, the Ministry of Labor (hereinafter “MITRADEL” for its acronym in Spanish) will begin to receive work permit applications for dependents of SEM executives, in accordance with the provisions of the law and open

90

Morgan & Morgan trains its employees in prevention of money laundering and risk management.

Panama, January 2nd, 2023.  As an organization committed to Responsible Governance, Morgan & Morgan began the year 2023 with a massive training for its employees on “Prevention of Money Laundering and Risk Management for the Lawyers Sector.” The activity was attended by more than 150 professionals from different areas of the firm, who had the

88

Morgan & Morgan Legal promotes Ana Carolina Castillo Solis as a partner in its Corporate Law team.

Panama, December 30, 2022.  Morgan & Morgan Legal is pleased to announce the recent promotion of Ana Carolina Castillo Solis as a partner of the firm’s Corporate Law Department. Mrs. Castillo regularly advises clients in energy (power), finance, mergers and acquisitions and capital markets transactions, among others. In recent years, she has been particularly active

Morgan & Morgan promotes Laura Barrios Altafulla as a new partner in its Estate Planning and Corporate Services Department.

Panama, December 29, 2022. Morgan & Morgan is pleased to announce the recent promotion of attorney Laura Barrios Altafulla as partner of the Estate Planning and Corporate Services Department Unit. Laura advises clients on international tax issues, mainly assisting companies on efficient corporate structures and compliance matters. Mrs. Barrios is considered one of Panama´s most

38

The Maritime Court of Appeals of Panama issues ruling with great significant on limitation of liability for containerized cargoes

The “MSC Nerissa” – The Maritime Court of Appeals of Panama issues ruling with great signifi­cant on limitation of liability for containerized cargoes. Luis G. Raven For the fi­rst time in Panamanian maritime jurisprudence, the Maritime Court of Appeals of Panama, the highest appellate court in maritime cases, handed down a signifi­cant ruling analyzing package

90

Morgan & Morgan advised Banistmo, S.A. in the registration of revolving corporate bonds of Lion Hill Capital 2, S.A. for an amount of up to US$80 million.

Panama, December 27, 2022. Morgan & Morgan represented Banistmo, S.A., as arranger and underwriter in connection with the registration of corporate bonds of Lion Hill Capital 2, S.A. (the “Issuer”), for an aggregate amount of US$80,000,000 with the Superintendency of Capital Markets of Panama, in order for the Issuer to publicly offer the bonds in

91

Morgan & Morgan advised in connection with the financing for the 50MW Ecosolares photovoltaic power park.

Panama, November 25, 2022. Morgan & Morgan represented the borrowers in a project finance granted by BAC International Bank, as lender, for the refinancing of photovoltaic plants Ecosolar 1 and Ecosolar 2, and for the financing for the construction of the photovoltaic projects Ecosolar 3, Ecosolar 4, and Ecosolar 5. The projects together form a

Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. and Mercantil Capital S.A., in the closing of the acquisition of Capital Bank, Inc.

Panama, December 12, 2022. Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. (“MHFI”), and Mercantil Capital, S.A. (“Mercantil Capital”), subsidiaries of Grupo Mercantil, in relation to the closing of the Promissory Share Purchase Agreement (the “SPA”) dated June 29, 2022, by and among the shareholders of Capital Bank, Inc. (“Capital Bank”) as sellers (the “Sellers”),

Terralex Cross-Border Labor and Employment Guidance: Panama

Panama, December 13, 2022. As a member of Terralex, our firm collaborated with the Panama Chapter of its Cross-Border Labor and Employment Guidance, a valuable resource to general counsel, chief legal officers, and human resources executives, who manages people within an organization.   Partners Maria Teresa Mendoza and Albalira Montufar wrote about the key aspects and

joy2

Terralex Guide on Anticorruption Legislation: Panama

Panama, December 9, 2022. As a member of Terralex, our firm collaborated with the Panama Chapter of its Guide on Anticorruption Legislation, a comprehensive resource of information on the current regulations related anticorruption policies in various jurisdictions around the world.   Associate Joy Paull Torres from our Criminal Law team wrote about the key aspects and