BLP has advised EVERTEC, Inc. (EVERTEC, or the Company) in Costa Rica and Guatemala on the refinancing of its existing credit facilities; the new credit lines consist of $200 million of extended revolving credit and a $415 million term loan A, both maturing on December 1, 2027. The new term loan and a $50 million…
Category Archives: Blog
Blog, Business Law, Guatemala, News
BLP advises Grupo Tecún on selling its automotive division to Grupo Q in Guatemala.
07
Dec
Dec
As of December 1, the Hyundai, Mazda, and Peugeot brands formerly controlled by different companies belonging to Grupo Tecún became part of the automotive portfolio of Grupo Q in Guatemala. BLP’s advice to Grupo Tecún on selling its automotive division to Grupo Q consisted of due diligence for the seller, participation in the auction process,…
25
Nov
Nov
On December 1, Costa Rica marks the Abolition of the National Army. However, law 9875 requires that from 2020 to 2024, holidays transfer to Mondays to promote internal visits and tourism. This year the holiday is celebrated on December 5. This date is a non-compulsory pay holiday. An employer with a weekly payment method (non-commercial…
24
Nov
Nov
Michelle Avilés Senior Associate Nicaragua [email protected] A free transfer is when the donor (transferor) bestows a benefit or right without being paid, even though the transfer may be subject to the fulfillment of certain conditions, such as an inheritance, donation, or prize. The taxpayer in this type of conveyance is the party who accepts the…
Banking & Finance, Blog, Honduras, News
BLP advises on the sale of shares of Banco Popular, S.A. in Honduras
22
Nov
Nov
Banco Popular S.A. is the dominant commercial banker of microcredits in Honduras. IFC, BCIE and Bamboo Capital Partners sold their shareholdings of Banco Popular to Triple Jump via ASN Microkredietfonds, Incofin, BIO Invest, and FMO. BLP, through its Honduran legal team, advised sellers and buyers on the necessary regulatory approval for the sale of shares…
11
Nov
Nov
As of January 2023, contribution to the Disability, Old Age and Death regime (IVM – for its acronym in Spanish) will increase with the aid of three contributors, according to the agreement of the Board of Directors, session 9038 of June 20, 2019. With this increase, the employer, the employee, and the State will make…
07
Nov
Nov
Alexandra Aguilar Director at BLP Costa Rica [email protected] In a few months, the World Cup, one of the most anticipated sporting events—in our county at least–begins. As we all know, the tournament will be held in Qatar and has created much expectation, either because the National Team will be one of the protagonists or because…
28
Oct
Oct
For the ninth time (eighth consecutively), BLP has attained the Costa Rica Law Firm of the Year award, presented at the Emmanuel Luxury Venue in Miami, Florida, on October 28. The Chambers Awards recognize the eminence of law firms in regional jurisdictions. “Since its inception, BLP has stood out for strategically supporting its clients so…
27
Oct
Oct
On October 24, 2022, the National Salaries Council (CNS – in its Spanish acronym) agreed to increase minimum wages in the private sector. This accord will take effect on January 1, 2023, when an increase of 6.62% for all salary categories goes into effect. Additionally, the following increases will also apply to the minimum wages…
21
Oct
Oct
Ruben Fuentes Senior Associate Guatemala [email protected] On August 31, 2022, Decree No. 40-2022, which contains the Law on Incentives for Electric Mobility, entered into force. Under this regulation, the aim is to promote the use of vehicles powered by electricity or hydrogen. Part of the objectives of the law above includes the mitigation of greenhouse…