Morgan & Morgan Partners recommended by the Latin American Corporate Counsel Association (LACCA)

Panama, December 14, 2021. Partners Carlos Ernesto González Ramírez (Antitrust & Competition), and Inocencio Galindo (Banking & Finance) have been included at LACCA Approved 2022, a selection of Latin American leading lawyers in specific areas of law. Approved lawyers have been personally recommended by members of LACCA, who are all general counsel from the top

Morgan & Morgan Legal Banco Delta, S.A. in the registration of a non-revolving program of subordinated corporate bonds for an amount of up to US$30 million.

Panama, December 10, 2021. Morgan & Morgan Legal advised Banco Delta, S.A., a general license bank engaged in the consumer banking business in Panama (the “Issuer”), in the registration of a non-revolving program of subordinated corporate bonds to be issued in series for an amount of up to US$30,000,000 with the Superintendency of Capital Markets

Relevant changes Spreadsheet 03

December 3, 2021 Executive Decree No.186 of 22 November 2021, published in the Official Gazette 29427-C of  December 2nd 2021, establishes important changes to Form 03, which is the report that allows taxpayers to submit information on all their employees for income tax withholdings. These are summarized below: Filing. Previously it was filed within the

Morgan & Morgan Legal advised Latin American Kraft Investments, Inc., in the registration of cumulative preferred shares for an amount of up to US$50 million.

Panama, December 2, 2021. Morgan & Morgan Legal advised Latin American Kraft Investments, Inc. (LAKI), a holding company of subsidiaries engaged in the business of manufacturing packaging solutions in Central America, the United States of America, Europe and Asia primarily under the SigmaQ brand (the “Issuer”), in the registration of cumulative preferred shares for an amount

Morgan & Morgan advised Avianca Holdings, S.A. and its subsidiaries, in connection with its financial and corporate restructuring process, implemented to emerge from Chapter 11 proceedings in the United States of America.

Panama, December 1, 2021. Morgan & Morgan acted as Panamanian counsel to Avianca Holdings, S.A. (“Avianca”) and its subsidiaries, in connection with its financial and corporate restructuring process, implemented to emerge from Chapter 11 proceedings in the United States of America, after having filed for bankruptcy protection in U.S. Courts back in May 2020. Avianca’s

Benchmark: A priori pricing of related party transactions

December 1, 2021 Taxpayers that have transactions with related parties resident outside Panama must set the prices of such transactions under the arm’s length principle. That is to say, they must be set under the “fair market price”, which is no more than setting the prices of our operations with related parties within the price

The Ministry of Health updates the list of countries considered of high epidemiological risk

Through Resolution No. 2878 of November 12, 2021, the Ministry of Health of the Republic of Panama, updates the list of countries confirmed as high epidemiological risk, as of November 11, 2021, in accordance with the above by the World Health Organization. Countries with High Epidemiological Risk are: AMERICA: 1. Cayman Islands 2. Barbados 3. Anguilla

Time to review transfer pricing

Panama, November 25, 2021. If taxpayer’s resident in Panama have carried out transactions with related parties outside of Panama this tax year, it will be important to review before the end of December whether the related payments are within the ranges required by the tax regulations. Even with local related parties in certain cases the

Morgan & Morgan advised Marevalley Corporation in the registration of a revolving program of corporate bonds for an amount of up to US$150 million.

Panama, November 25, 2021. Morgan & Morgan advised  Marevalley Corporation, a holding company of subsidiaries engaged in the consumer finance business in Panama, Costa Rica, El Salvador, Nicaragua and Mexico primarily under the Instacredit brand (the “Issuer”), in the registration of a revolving program of corporate bonds to be issued in series for an amount

Global investigations guide 2021

Panama, November 23, 2021. Partners Inocencio Galindo, Kharla Aizpurua Olmos, Ricardo Aleman, and associate Joy Paull Torres were invited to contribute with the Panama chapter of the Global investigations guide, a publication produced by international law firm Hogan Lovells. The guide provides complete analysis on topics related to corporate liability, anticorruption, bribery, regulatory compliance, and criminal law.