Guatemala Pays Debt to Teco Energy

Wednesday, November 25, 2020

After Guatemala paid off its debt to Teco Energy, the $15.75 million embargo was lifted, resources that the country had allocated for interest payments from some Eurobond holders.

Arguing that from 2008 to 2013 the Guatemalan National Energy Commission set a maximum amount that electricity distribution companies could charge the user, Teco Energy, a company that was a shareholder of Empresa Electrica de Guatemala, sued the country internationally.

Tender for $3 Million in Cleaning Services

Wednesday, November 25, 2020

The Costa Rican Institute of Aqueducts and Sewerage tenders the cleaning services of its facilities located in the Great Metropolitan Area.

Costa Rican Government Purchase 2020LN-000009-0021400001:

Real Estate Market: What Does the Consumer Want?

Tuesday, November 17, 2020

Open spaces in the condominiums, green areas and enough rooms to accommodate a home office, are aspects that Guatemalan consumers consider when buying a residential property.

As a result of the covid-19 outbreak, the population in Guatemala was subjected to strict quarantine, which caused changes in people's behaviors and modified tastes and preferences.

Arbitration with Teco Energy: Embargo on Guatemala

Thursday, November 5, 2020

After receiving a ruling opposing the international arbitration disputed with Teco Energy, the New York State Supreme Court ordered the seizure of $15.75 million from Guatemala.

Teco Energy is a company that was a shareholder of Empresa Eléctrica de Guatemala and years ago claimed international arbitration, arguing that from 2008 to 2013 the National Energy Commission set a maximum amount that energy distribution companies could charge the user. This measure caused losses to the distributor.

Parallel Imports in Costa Rica

Monday, March 25, 2013

The activity known as parallel importation is the purchase and import of products outside the distribution channels contractually negotiated by the manufacturer.

From Competition Bulletin No. 156 by the Commission to Promote Competition (COPROCOM) in Costa Rica:

El Salvador: Legal Situation Report

Wednesday, January 25, 2012

The Salvadoran Foundation for Economic and Social Development, Fusades, has presented a report entitled "Legal and Institutional Situation" for the second half of 2011.

The Department of Legal Studies, DEL, this morning released the Report of Legal and Institutional Situation of the second half of 2011, by which the legal and institutional activity in the country is systematically tracked. The report aims to contribute to the national discussion with new inputs to make public policies better, improving the business climate and strengthening democratic institutions.

Squatters in Costa Rica

Friday, April 25, 2008

Costa Rica is all too familiar with the problem of squatters – in fact, they are perfectly legal.

Throughout many countries of the world, they occur primarily in urban areas where urban decay exists or in rural areas where vast amounts of land can be owned, but not fully occupied.

Challenges of Seasonal Sales

Wednesday, November 11, 2020

Maintaining proper inventories to meet demand, having a robust logistics system and an electronic sales channel that protects your customers when they make a purchase, are part of the challenges that businesses face in this new reality.

With "Black Friday" and Christmas approaching, commercial establishments in the region are beginning to apply their sales and promotion strategies, with which they will try to recover part of their income.

Panama Offshore Banking: Asset & Privacy Protection

Tuesday, May 13, 2008

The banking industry in Panama has developed quite an allure for businesses and corporations that are engaged as offshore operations.

Panama has become the most modern and successful country in Latin America and its international banking center can be described in a similar fashion.

Fusades Presents Legal Situation Report

Wednesday, August 29, 2012

The Salvadoran Foundation for Economic and Social Development, Fusades, has released a report entitled "Legal and Institutional Situation" for the first half

A press release of the Salvadoran Foundation for Economic and Social Development (Fusades) reads:

The Department of Legal Studies, DEL, released on Aug.

Energy: Guatemala Gains Demand

Monday, October 12, 2020

After IC Power Asia Development sued the Guatemalan State for violating its rights under the Agreement for the Promotion and Reciprocal Protection of Investments, the Permanent Court of Arbitration ruled in favor of the Guatemalan government.

On February 20, 2018, the Israeli entity IC Power Asia Development LTD. (former owner of Energuate) sued the State of Guatemala as a result of an inspection carried out by the Superintendence of Tax Administration (SAT), to verify the liquidation of Income Tax (ISR), informed the Ministry of Economy (Mineco).

Pandemic: Court Suspends Restrictions

Friday, August 21, 2020

After the Municipality of the head of the province of San Marcos, in Guatemala, decreed several trade restrictions to contain the advance of covid-19, the Constitutional Court decided to suspend them.

The country's highest court in constitutional matters heard the case after the Chamber of Commerce filed an action for protection against the provisions of the municipal corporation of the capital city of San Marcos, which were published on August 11 and are contained in Act 73-2020.

Guatemala: Clear Rules for Investment Demanded

Tuesday, July 4, 2017

The Guatemalan business union has warned about the negative impact of the lack of legal certainty on the economic, political and social environment.

From a statement by the Cacif:

• We would like to draw the public's attention to the serious impacts that may arise from the various cases in which ILO Convention 169 has been invoked, and in which the country's courts have issued rulings that contradict each other, to the extreme - in one case - by ordering the suspension of operations of a company.
• As has been reiterated in previous communications, it is important to provide Convention 169 with a standard of consultation so as to allow compliance with its provisions clearly and with certainty in regards to its procedures. In so far as this occurs, it is necessary that in the cases that are heard in the different courts of the Republic, fundamental aspects for legal security should be present, such as: 

• a) That Convention 169 is an instrument whose purpose is to foster dialogue in good faith, not to stop projects or to irreversibly affect the national economy. 

Respect for the Rule of Law

Monday, July 1, 2013

In El Salvador foreign investors are astonished when they learn that legislators refuse to accept rulings by the Supreme Court of Justice.

An editorial by Álvaro Cruz Rojas, chief editor of Elmundo.com.sv, shows clearly why Direct Foreign Investment, and even national investment, has fallen so much in recent years, precisely when other Latin American countries are enjoying a boom in this area.

El Salvador: Legal Uncertainty Making Business Climate Worse

Monday, February 27, 2017

Although emphasis was given to the momentum taken in the fight against corruption in 2016, lack of legal certainty continues to affect conditions for doing business in the country.

From a report on the Legal and Institutional Situation by the Salvadoran Foundation for Economic and Social Development: