News

2021


26

February 26, 2021

Banking and Finance

Newsflash - Bill Regulating Payroll Deduction Loans

On February 18, 2021, the Mexican Senate passed a bill (the “Bill”) to amend and supplement several provisions of the General Law of Negotiable Instruments and Credit Transactions (“LGTOC”), the General Law on Credit Organizations and Related Activities (“LGOAC”)...

17

February 17, 2021

Competition and Antitrust
Energy and Infrastructure Projects

Newsflash - COFECE issues recommendations to Mexican Congress on the initiative to reform the Law of the Electric Industry

On February 12, 2021, the Board of Commissioners of the Mexican Federal Economic Competition Commission (Comisión Federal de Competencia Económica, “COFECE”) issued an opinion on free concurrence and economic competition, with non-binding effects and identified as...

08

February 08, 2021

Competition and Antitrust

Newsflash - The Mexican Supreme Court ruled against the Federal Executive and SENER in the constitutional control procedure filed by COFECE

On February 3, 2021, the Second Chamber of the Mexican Supreme Court of Justice (Suprema Corte de Justicia de la Nación) resolved the constitutional control proceeding filed by the Mexican Federal Economic Competition Commission (Comisión Federal de Competencia Económica;...

05

February 05, 2021

Capital Markets

Mexico sets a milestone by offering bonds in Taiwan's Formosa market

Ritch Mueller represented Deutsche Bank, Taipei Branch, Goldman Sachs (Asia), Taipei Branch, HSBC Bank (Taiwan) and Morgan Stanley Taiwan, in connection with the issuance by the United Mexican States of its 3. 750% Senior Notes due 2071, for an aggregate amount of USD$3,000 million. Read...

03

February 03, 2021

Energy and Infrastructure Projects

Newsflash - Office of the President files an Initiative to Reform the Electric Industry Law

On January 29, 2021, the President of Mexico submitted to the Chamber of Representatives (Cámara de Diputados) of the Mexican Congress an initiative (the “Initiative”) to reform the Electric Industry Law (“LIE").  Prior to its entry into force, the Initiative needs to...

28

January 28, 2021

Ritch Mueller

Ritch Mueller wins Law Firm of the Year in Mexico in LatinFinance's Awards

On January 28, the LatinFinance Deals of the Year Awards 2020 were held to recognize the most outstanding transactions in the financial markets in Latin America, as well as the individuals and institutions involved.  Ritch Mueller won the award for Law Firm of the Year in Mexico, and was...

2020


18

November 18, 2020

Competition and Antitrust
Mergers and Acquisitions

CI Bank buys Deutsche Bank's corporate trust business in Mexico

Ritch Mueller represented Deutsche Bank in connection with the sale of the corporate trust business of Deutsche Bank Mexico in favor of CIBanco, as well as in the process to obtain authorization from the National Banking and Securities Commission and the Federal Antitrust Commission. Read...

17

November 17, 2020

Tax

Newsflash - Bill to eliminate outsourcing schemes

On November 12, the Mexican President presented a bill to amend the Federal Labor Law, the Federal Tax Code, the Mexican Income Tax Law and the Value Added Tax Law, among other regulations, in order to eradicate illegal outsourcing schemes.  The following is a summary of the most relevant...

09

November 09, 2020

Tax

Newsflash - 2021 Tax Reforms and Pending Items of 2020 Tax Reform

2021 Tax Reform On November 5, the Congress approved the 2021 tax reform, including the decree with amendments to various provisions of the Mexican Income Tax Law, the Value Added Tax Law and the Federal Fiscal Code (“FFC”), presented to the Congress on September 8, 2020 by the...

04

November 04, 2020

Tax

Newsflash - Application of the new interest deductibility limitation

Pursuant to the new limitation included in section XXXII of article 28 of the Mexican Income Tax Law with respect to interest deductibility, the “net interest” of the fiscal year that exceeds the amount obtained by multiplying the “adjusted tax profit” by a 30%, shall be...

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