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Legal market overview
Nicaragua, although still one of Latin America’s least developed countries, has been growing steadily over the past decade. GDP grew by 4.2% in 2013, while foreign direct investment and trade increased and economic indicators remain positive.
Though small, the country’s legal market is relatively active and large regional firms such as Consortium – Centro América Abogados, Arias & Muñoz and García & Bodán, continue to dominate. These firms benefit from referrals from their respective regional networks, and have an edge in multi-jurisdictional work. Despite this, local firm Alvarado y Asociados competes effectively with these larger firms, and has an impressive international reach. Corporate and finance work remains the core area for Nicaraguan law firms, although IP also continues to grow in importance, with a number of firms developing solid offerings in the sector, with local boutique Guy José Bendaña-Guerrero & Asociados leading the way.
In one significant market development Meritas alliance member Nuñez Rizo Zambrana lost two key partners to Costa Rica-based BLP which has begun a regionalization drive with the opening of offices in El Salvador and Nicaragua. Similarly, another Costa Rican heavyweight, Pacheco Coto, has also opened in Managua, after absorbing the Salvadoran, Guatemalan and Nicaraguan offices of ACZALAW, Abogados Centroamericanos Asociados. Both firms are likely to provide strong competition to local firms and other regional players in the Nicaraguan market over the next few years.
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…to the top of business, Nicaragua has witnessed the growth, development and progress of the mining industry in the recent years. According to information available on the Nicaraguan Mining Authority´s official website, there are more than 50 important mining-related projects representing more than 60 million dollars in investments, with worldwide investors including companies from China, Canada, United States, Peru, Mexico, Australia, Brazil, Japan, United Kingdom and others.
As a lawyer at Alvarado y Asociados in Nicaragua, I have had the opportunity to assist many investors that want to incorporate a company in this country.
Among the alternative means of dispute resolution, arbitration in commercial relations is a figure that over the years has been gaining territory over conflict resolution in the courts. Arbitration is a procedure by which the appointed arbitrators issue a binding decision on the parties in a dispute named award, which allows any differences raised in trade relations to be solved in a friendly, quick and impartial manner.
Among the alternative means of dispute resolution, arbitration in commercial relations is a figure that over the years has been gaining territory over conflict resolution in the courts. Arbitration is a procedure by which the appointed arbitrators issue a binding decision on the parties in a dispute named award, which allows any differences raised in trade relations to be solved in a friendly, quick and impartial manner. Arbitration in Nicaragua
Knowing the legal difference between a consultant and an employee is important for a company that needs to hire someone in Nicaragua or for a person interested in rendering services for a company or another person, due to the fact that the nature of the contractual relationship will determine many factors that both parties must be aware of before executing the contracting modality that will govern the relationship between them - the nature of the contractual relationship impacts on the employment benefits, tax implications and liabilities that the parties must comply with according to the law. labor_law_in_nicaragua
What is a Single Shareholder and Director legal entity?
In recent years, the country ́s the government has been committed to improving Taxation in Nicaragua and attempting to follow the legislative model used by some of the other countries in the region. Starting January 1st, 2013, a new tax law (Law No. 822, Tax Concertation Law) came into force in and completely changed the taxation system in Nicaragua. Two years later a new law was issued by the National Assembly containing more than 80 amendments, additions and repeals (Law No 891) which came into force December 18th, 2014.
Sunrise announced today the launch of its initial public offering ("IPO") on the SIX Swiss Exchange with the publication of the offering and listing memorandum and the start of the bookbuilding process. Trading is expected to commence on 6 February 2015. With an offer size of CHF 1.6 billion, the Sunrise IPO constitutes the largest IPO on the SIX Swiss Exchange since 2006 and the first IPO in the Swiss telecommunications sector since 1998.
Niederer Kraft & Frey Ltd. (NKF) advised Bridgepoint in connection with the sale of Infront Sports & Media AG to Dalian Wanda Group Co. Ltd. The agreement was signed on 10 February 2015 and is subject to customary conditions.
Niederer Kraft & Frey advised Deutsche Bank and UBS as Joint Global Coordinators, the Joint Global Coordinators, Berenberg, and Morgan Stanley as Joint Bookrunners and Vontobel as Co-Lead Manager in connection with the successful Initial Public Offering and listing on the SIX Swiss Exchange of Sunrise, Switzerland's second largest telecom operator.
Niederer Kraft & Frey advised Knorr-Bremse AG, the world’s leading manufacturer of braking systems for rail and commercial vehicles, which is based in Munich and employs more than 24,000 people worldwide, in the acquisition of Selectron Systems AG, Lyss. Through this acquisition, Knorr-Bremse is expanding its portfolio to include components and solutions for the automation of rail vehicles. The acquisition successfully closed on 24 February 2015.
Niederer Kraft & Frey advised UBS AG and Credit Suisse AG, the Joint Bookrunners, and Zürcher Kantonalbank, the Co-Lead Manager, in connection with Implenia AG's ("Implenia") offering of CHF 175 million subordinated unsecured convertible bonds due 2022 convertible into shares of Implenia. The bonds will be listed on the SIX.
Schoenherr advised Rohrdorfer group on its acquisition of CEMEX's operations in Austria and Hungary for approx. EUR 160 mn. A sale and purchase agreement was signed on 11 August 2015. The closing of the transaction is expected during the fourth quarter of 2015 and is subject to the satisfaction of standard conditions for this type of transaction, including merger clearance. read more
The VEGAS LEX law firm has participated in a discussion of the Eurasian Economic Union pharmaceutical market regulation at a meeting of the nonprofit partnership Standards of Pharmaceutical Market.
Kim & Chang has been awarded ‘South Korea National Law Firm of the Year’ at Chambers Asia-Pacific Awards 2015 , organized by Chambers and Partners, an internationally renowned legal publication publishing a directory of the world’s leading law firms.
Kim & Chang was recognized as ‘Employer of Choice 2015’ in The ALB Employer of Choice Rankings, a feature article in the April issue of ALB Magazine.
Kim & Chang’s Committee for Social Contribution (“CSC”) recently entered into a MOU with Seongbuk-gu Government (a ward within the city of Seoul), formalizing a collaborative relationship that allows both Kim & Chang and the Seongbuk-gu Government to support the development of the education sector.