Mexico

CASE CITATION: ADR 962/2021, Autofinanciamiento México, S. A. de C. V., Pleno de la Suprema Corte de Justicia de la Nación, 29 de enero de 2024. Ponente: Ministra Yasmín Esquivel Mossa.

We are pleased to announce the following lawyers as new partners of our firm: HÉCTOR CÁRDENAS ORTEGA Héctor joined the firm in 2010. He has vast experience in mergers and acquisitions, advising buyers (both financial and strategic), sellers and financial advisors in sale processes of businesses and assets in a variety of sectors (food and beverage, educational services, technology, and automotive, entertainment and financial services, among others), including acquisitions through tender offers, leveraged acquisitions and reorganizations, with special emphasis on advising private equity funds in their structuring, as well as in acquisitions and divestments of businesses and assets. As to his real estate experience, Héctor is particularly active in transactions involving the structuring of private equity real estate funds, as well as in the acquisition and sale of real estate properties and developments, working for both investors and developers. Héctor worked as a Foreign Associate at Simpson Thacher & Bartlett in New York, NY (2015-2016). SANTIAGO CARRILLO CATTORI Santiago joined the firm in 2011. He actively participates in complex transactions involving financings, acquisitions and developments across all real estate asset classes, including industrial and hotel assets, representing domestic and foreign financial institutions, private equity firms and developers. He also advises domestic and international lenders in structuring credit facilities for Mexican public and private companies, particularly in structured lending transactions. Santiago worked as a Foreign Associate in the Banking & Finance practice area at Mayer Brown, in Chicago, IL. ADRIANA PADILLA RIVAS Adriana joined the firm in 2015. She has more than 14 years of experience and has participated in several commercial and investment arbitrations, both as counsel and arbitrator, under the rules of several institutions such as ICC, LCIA, AAA-ICDR, ICSID, CANACO, CAM and others. She has extensive experience in dispute resolution in many fields such as M&A, infrastructure, energy, port, construction, retail and corporate, subject either to Mexican, international or foreign law. She also has extensive experience in litigation related to arbitration, including judicial proceedings for the recognition and enforcement of awards and interim measures in arbitration. In addition, she has participated in multiple financial restructurings and insolvency proceedings, advising both companies and creditors, and also acted as counsel to the receiver. Adriana worked as a Foreign Associate in Cleary Gottlieb, in New York, NY (2014-2015). JUAN JOSÉ PAULLADA EGUIRAO Juan José joined the firm in 2017. He has more than 14 years of experience advising multinationals from the energy, real estate, private equity, banking and financial sectors in tax controversy and tax advisory matters. He specializes in representing clients throughout controversy processes before tax and other governmental authorities, regulators and the Taxpayers’ Defense office, to reduce or eliminate contingencies derived from tax audits and other administrative inspections. He has particular experience in advising multinationals on cross-border transactions, confronting complex international tax issues in the application of double taxation treaties. Juan José was a member of Ernst & Young’s international Tax Advisory practice in New York (2014-2016) and Houston (2016-2017).

Represented Mexico Infrastructure Partners (EXI), in the structuring of a new Fibra-E named Fibra EXI, as well as Fibra EXI in the issuance of MXN$22,159 million CBFEs, placed in the Mexican Stock Exchange through an initial public offer and distribution to investors of EXI Funds. Press coverage of the matter can be found here: https://www.bbva.com/es/mx/bbva-mexico-actuo-como-estructurador-e-intermediario-colocador-lider-de-la-fibra-e-de-exi-con-una-oferta-primaria-de-3505-millones-de-pesos/ https://www.elfinanciero.com.mx/opinion/dario-celis/2021/07/30/proximo-lunes-al-mercado-fibra-exi-con-21-mmdp/ https://expansion.mx/mercados/2021/07/30/fexi-fibra-e-bolsa-mexicana

The publication of several authorizations in the Federal Official Gazette in recent months allowing various companies to be organized and operate as Electronic Payment Fund Institutions (“IFPEs”) or as Crowdfunding Institutions (“IFCs”) has accelerated the Fintech environment in Mexico. Pursuant to the Law that Regulates the Financial Technology Institutions (the “Fintech Law”) and the authorizations issued thereunder, both IFPEs and IFCs will be subject to the supervision of the Mexican National Banking and Securities Commission (the “CNBV”) and the Mexican Central Bank, as applicable, and to the supervision of other competent financial authorities under the terms provided by law. The services consisting of the issuance, management, redemption and transmission of electronic payment funds that IFPEs provide, or services consisting of collective debt financing that the IFCs provide, as well as the operations that such institutions carry out and their organization and operation in general, will be subject, among others, to the Fintech Law, to the general rules and provisions applicable to Financial Technology Institutions issued by the CNBV, to the provisions issued by the Mexican Central Bank in connection with their operations, and to any other rules and provisions in effect and those issued in the future by any competent authority, including those related to transactions with resources of illicit origin and financing of terrorism, which by their nature are applicable (collectively, the “Fintech Regulation”). The Fintech Regulation establishes annual, quarterly and monthly reporting obligations that both IFPEs and IFCs shall comply with, as well as reporting obligations when certain events occur or over certain periods of time. Failure to comply with such reporting obligations could give rise to the imposition of administrative fines. Based on our long trajectory in financial and regulatory matters, we are very active in the Fintech market in Mexico, attentive to the needs of our clients. If you would like to know more about the reporting obligations that are applicable to IFPEs or IFCs, please contact José Berrueta Ochoa ([email protected]) or Rodrigo Carmona Herrán ([email protected]), members of Ritch Mueller´s banking and finance practice.