The Second Chamber of District Administrative Litigation Court No. 1 issued judgment on March 1, 2005, acknowledging BAT’s right to register (use?) its BELMONT trademark in Ecuador.  In an action that began in 1997, partner Jose Rafael Bustamante led a team of Bustamante & Bustamante litigators that played a decisive role in convincing the Court to overcome the opposition filed by BAT rival Phillip Morris.

The boxes are named in keeping with the nomenclature used by the IFIS for different groups of accounts.

In the United States, government regulatory entities have the power to give monetary awards to employees who report illegal activities at their companies.

The Board will be the highest body to control, supervise and regulate matters relating to money laundering and terrorism financing.

We are in the season when companies must hold their annual general shareholders' meetings in order to review, their performance throughout the year and to define the strategy for next year

Companies incorporated in other countries can now change their nationality and may be domiciled in our country in accordance with Ecuadorian laws.

To avoid the exportation of indirect taxes, Article 69(a) of the Internal Tax Regime Law recognizes the right to a refund for value added tax (VAT) paid on the importation and local acquisition of goods and services used for the production of export goods. Based on this legal provision, companies with upstream contracts have claimed from the Internal Revenue Service a refund of the VAT paid on the production of the oil they produce and export.

If any damages exist, they will be deemed null and void.

The U.S. FCPA makes it unlawful and penalizes U.S. companies, their directors and executives if they pay directly or through third parties anything of value to foreign public officials for purposes of obtaining unethical economic benefits.

U.S. authorities aggressively apply money anti-laundering and anti-corruption laws on persons and companies beyond the U.S. borders.

The SRI is legally able to gain access to all kinds of data, numbers and documents, provided that they are not protected by professional secrecy.

Ecuador has adopted, as national public policy, the full liberalization of air transport, with the exception of cabotage traffic ...

On February 12, 2018, the Office of Foreign Assets Control (OFAC) published additional explanations about sanctions relating to transactions with PDVSA and with Venezuelan Entities ...

Despite the existence of national and Andean Community legislation protecting intellectual property rights as well as the adhesion by Ecuador to key international conventions on intellectual and industrial property rights, such as the Agreement on Trade-Related aspects of Intellectual Property (the TRIPS Agreement), Ecuador remains one of the countries in the region with the most prolific rates of piracy.

Filing to submit those reports as mentioned above may also bring about sanctions ranging from fines to the closure of commercial establishments.