Morgan & Morgan advised Parque Industrial y Corporativo Sur, S.A. in connection with the public offering of revolving corporate bonds for an amount of up to US$100 million

Panama, April 24, 2020.  Morgan & Morgan advised Parque Industrial y Corporativo Sur, SA, in relation to the public offering of revolving corporate bonds (hereinafter the “Bonds”), which will be issued in multiple series, which may be senior series or subordinated series under a revolving program in which the outstanding principal balance of the Bonds

COVID-19: Suspension of employment contracts (Webinar)

Panama, April 23, 2020. In this Webinar, María Teresa Mendoza, partner at Morgan & Morgan, covered the topic “Suspension of employment contracts in times of COVID-19”. The discussion was held in alliance with the Chamber of Commerce, Industries and Agriculture of Panama. Click here to view: COVID-19: Suspension of employment contracts (in Spanish)

COVID-19: Temporary importation measures on medicines and other human health products

April 23, 2020 In order to allow the importation of medicines and other products for human health, during the State of Emergency, the National Directorate of Pharmacy and Drugs (DNFYD) of the Ministry of Health, has issued Resolution 280 of April 6, 2020 published in Official Gazette No. 29008 of April 22, 2020, which establishes the

Panamá sanciona ley que concede Licencias Remuneradas Especiales

Ricardo Alemán, Derecho Laboral, Socio de Morgan & Morgan 21 de abril de 2020 Mediante Gaceta Oficial No. 29003-A, fue promulgada la Ley 147 de 15 de abril de 2020 que concede el derecho de una licencia especial remunerada de hasta por 3 meses improrrogables a todo padre o madre que labore en el sector

Payment of thirteenth month bonus in suspended employment contracts

Panama, April 15, 2020. The Thirteenth Month is a special mandatory bonus that was established since 1971, to compensate the employees for their contribution to the benefits obtained by the company. It was established by two special regulations, Cabinet Decree No. 221 of November 18, 1971, which established it, and Decree No. 19 of September

Alpha Credit © closes equity financing round led by SoftBank Latin America Fund

Panama, April 13, 2020. Morgan & Morgan advised Alpha Credit ©, a leading technology firm that provides financial services to segments underserved by traditional banking institutions, specialized in consumer lending and financing for small and medium enterprises (SMEs), in the process to complete an equity financing round for more than MXN$2.4 billion (approximately US$100 million),

Measures applicable to foreigners (Video)

Panama, April 11, 2020. For your convenience, Morgan & Morgan have developed the following infographic video with the measures adopted by the Panamanian Authorities, applicable to foreigners. Click here to view: COVID-19: Measures applicable to foreigners. If you have any questions or concerns, please connect with our legal team at [email protected]

BVI Economic Substance (Podcast)

April 9, 2020. At Morgan & Morgan we continue to look for ways to provide our services and continuity to the flow of information on changes in legislation in the different jurisdictions we have presence. In light of the above, we are pleased to announce the launch of our podcast “Morgan Updates”. This effort will

COVID-19 and Panama´s Insolvency Law

7 April 2020. The health crisis caused by COVID-19 (better known as “Coronavirus”) has had a significant impact on both global and local trade. In our country, the first case, which was confirmed on March 9, triggered the implementation of significant sanitary measures that led to the necessary temporary closure of multiple enterprises, as well

Tributary Measures for Economic Relief During Panama State of Emergency

Panama, April 6, 2020.  On Tuesday March 24th, 2020, the Executive Decree 251 of the same date was published in Official Gazette 28987-A which adopts tax measures to relief the economic effects of the National State of Emergency. In this sense, the following measures are established:  Tax payments From March 20th, 2020, date in which