Category Archives: Analysis

León Weinstok Director Cybersecurity and Data Protection Specialist Costa Rica [email protected] On April 18, we in Costa Rica received the unfortunate news that the computer systems of many public institutions had been attacked by the criminal organization Conti, with the Ministry of Finance being the main target. Although much information about the transgression is yet…

Uri WeinstokPartner and Specialist in Competition and RegulationCosta [email protected] Since the 1990s, the consensus is that competition benefits society more than state planning of the economy. Thus, consumers will be better off as long as companies have a permanent incentive to offer lower prices, better quality and service, and more innovation. The main concern in…

Luis Palacios Director and Environmental Law Specialist Costa Rica [email protected] Recently approved reforms to the Forestry Law allow the development of riverbeds, supporting the cause of sustainable tourism in Costa Rica. By providing greater legal certainty to civil works that must necessarily border on rivers, streams, or other bodies of water, the reforms promote tourist…

Luis Palacios Director Costa Rica [email protected] Over the past few months there has been a huge global increase in environmental compliance duties, to the point that, in the near future, all the companies listed on international stock exchanges would be required to publish their greenhouse gas emissions and explain the initiatives they are taking to…

By Federico Barrios Director Ethics & Anti-Corruption Specialist Nicaragua [email protected] Through the publication in June 2021 of the National Security Study Memorandum (NSSM-1), the president of the United States, Joe Biden, recognized international corruption as a major risk to his country’s security due to its ability to erode democracy and the rule of law in…

By Shermine Elizondo Senior Associate Costa Rica [email protected] The term Nearshoring refers to the mechanism or process through which a company transfers its business processes (e.g., services, manufacturing) or technology to third countries located in destinations close to the contracting country. This is opposed to the concept of Offshoring, which consists of relocating part of…

By Shermine Elizondo Senior Associate Costa Rica [email protected] Member of the Operations and Customs Affairs Work Commission of AZOFRAS A BLP associate specializing in Customs and Free Zones. Foreign Direct Investment (FDI) is understood as capital investment by a natural or legal person in a foreign country, either through the installation of new production plants…

BLP has advised ASSA Compañía de Seguros, S.A. in the acquisition of the insurance operations of Triple – S in Costa Rica. The firm’s advice involved all aspects of the transaction, including the due diligence process, regulatory and competition issues for the approval of the transaction by the General Superintendency of Insurance (SUGESE) and the…

IDB Invest, FinDev Canada, and BNCR support SMEs in Costa Rica with the country’s first issuance of a Social Bond. BLP has advised our clients, IDB Invest as lead arranger and investor, and FinDev Canada as an investor in connection with the first issuance of a social bond in Costa Rica in accordance with the…

By Jose Gochez AssociateEl Salvador [email protected] The London Inter-Bank Offered Rate (LIBOR) has been described as the most important financial number. LIBOR is an essential component for the international financial markets, a statement proven by its widespread use worldwide. By the beginning of 2021, it was estimated that LIBOR underpinned financial contracts worth approximately US$…