Feasibility of Organizing a Startup as Limited Liability Entrepreneurship Company

On July 22, 2020, the National Assembly approved, after a third debate, Draft Law No. 83 (the “Draft Law”), which regulates limited liability entrepreneurship companies (the “LLECs”) in Panama, and is now awaiting the signature (or veto) of the President of the Republic. The Draft Law’s object is to “streamline and simplify constitution procedures” of

Aprueban Proyecto de Ley que establece medidas temporales de protección al empleo por razón del COVID-19

El día de hoy fue aprobado en Tercer Debate el Proyecto de Ley No. 354 que establece medidas importantes que aplicarán de forma temporal a las empresas que cerraron total o parcialmente durante el Estado de Emergencia y a los trabajadores suspendidos. A continuación, los puntos más importantes que fueron aprobados: Se extienden hasta el

Morgan & Morgan achieves top ranking in the Chambers High Net Worth Guide 2020

Panama, July 29, 2020. Morgan & Morgan is pleased to announce that, for the fifth consecutive year, the firm´s Private Wealth Law practice group earned top ranking (Band 1) in the 2020 Chambers Hight Net Worth Guide, a publication aimed at the international private wealth market and a key reference point of the world´s leading

Superintendence of Non-Financial Regulated Persons issues new regulations in relation to attorneys and accountants

Panama, 24 July 2020. By means of Rule JD-01-2020, published in the Official Gazette No. 29076 of 24 July 2020, the Superintendence of Non-Financial Regulated Persons (SNFR) has established a set of rules and obligations imposed to attorneys and accountants whenever they incur in any of the regulated activities under Law 23 of 2015, which

The creation of a startup

An entrepreneur has a lot to consider when starting a new business. Who will be part of the team? Who will manage the company? How will decision-making be handled? Without a doubt, from the legal standpoint, among the first questions that an entrepreneur must ask him or herself is: What type of entity should I

Morgan & Morgan advised Electron Investment, S.A. in the public offering of corporate bonds for a sum of up to US$ 205 million

Panama, July 15, 2020. Morgan & Morgan represented Panamanian company Electron Investment, S.A. (the “Issuer”) in the public offering of corporate bonds for a sum of up to US$ 205,000,000 (the “Bonds”) in relation to Pando and Monte Lirio, two hydropower generating facilities that it owns and operates. For purposes of the public offering, Electron

Morgan & Morgan advised Gaming & Services de Panama, S.A. and Cirsa Enterprises Group, in connection with a revolving credit facility and a term loan facility

Panama, July 9, 2020. Morgan & Morgan advised Gaming & Services de Panama, S.A. (the “Company”) and Cirsa Enterprises Group (“Cirsa”), a leading gaming group in Spain, Italy and a number of countries in Latin America, with respect to (i) a revolving credit facility agreement up to the amount of €55,000,000, by and among Cirsa

Morgan & Morgan advised Seven Seas Water Corporation in connection with a US$163 million finance.

Panama, June 26, 2020. Morgan & Morgan represented Seven Seas Water Corporation (“Seven Seas”) in a US$163,000,000.00 financing with Deutsche Bank AG and Comvest Credit Partners, as lenders, and subsequent acquisition, through affiliate AquaVenture Capital Limited, Sembcorp Investments Limited, which wholly owns Aguas de Panamá, S.A. (“APSA”). Seven Seas is a portfolio of desalination and

Panamá reglamenta su Régimen de Propiedad Horizontal

24 de junio de 2020. En junio de 2020 se cumplen diez años de haberse expedido la Ley 31 de 18 de junio de 2010, mediante la cual se establece el Régimen de Propiedad Horizontal en Panamá. Este mismo mes, finalmente se publica y entra en vigor su respectiva reglamentación, mediante el Decreto Ejecutivo 151

Novedades de las recientes modificaciones a la Ley de Contrataciones Públicas: Transparencia e inhabilitaciones en las contrataciones

22 de junio de 2020 (Segunda Parte) Entre las modificaciones que se hacen a la Ley 22 de 2006 de Contrataciones Públicas, a través de la reciente aprobación de la Ley 153 de 8 de mayo de 2020, se pueden observar avances en la estandarización de todos los documentos utilizados en las contrataciones, y no