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Mexico’s Competition Commission Finds Six Companies for Concentration Failures
Mexico's Competition Commission (the Commission) fined six companies -more than 58 million pesos- dedicated to the sale of gasoline and diesel to consumers for failure to notify two concentrations to the Commission.According to the Mexican law a concentration occurs...
Merger Risk Management: The Role of Creditor Opposition
Recently, the Supreme Court of Justice of Mexico, upheld the right of creditors of companies seeking to merge to judicially oppose the process and to have the merger suspended until the opposition is resolved. The Court confirmed the constitutionality of Article 224...
Your Shareholders’ Meeting May Be Annulled—And You Probably Don’t Know I
This is not an exaggeration, and it happens in practice more often than one might expect. All legal requirements may appear to have been met, yet someone failed to review the bylaws before issuing the call notice and was unaware of the latest applicable judicial...
When Mexico’s Financial Intelligence Unit Freezes Accounts, There Is No Backup: What Directors Must Know Before It Happens
On April 6 of this year, the Supreme Court of Justice of Mexico upheld that the Financial Intelligence Unit (UIF) may freeze a company’s bank accounts without requiring a prior court order. It is sufficient for the authority to determine, based on reasonable indicia,...
Your Mexican Subsidiary’s Bank Accounts Can Be Frozen Overnight. The Injunction Route Is Closed.
Your bank can freeze your account funds if it suspects that the security token provided to you has been misused, and a legal injunction can no longer be used to release them—provided this freeze is stipulated in your contract. Indeed, Article 52 of the Financial...
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