On January 30, 2024, Legislative Decree No. 199 was published in the Official Gazette, introducing amendments to the Bitcoin Law (the “Reform”). The primary goal of the Reform is to enhance Bitcoin’s implementation in response to the people’s needs. The most significant amendments include: Legal Tender Status: References to Bitcoin as a legal tender have…
Category Archives: Banking & Finance
At BLP, Banking & Finance, Blog, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua
BLP is honored as Law Firm of the Year – Central America by LatinFinance
30
Jan
Jan
We are pleased to announce that BLP has received the prestigious Law Firm of the Year – Central America at the LatinFinance Deals of the Year Awards 2024. This recognition reaffirms our excellence in legal advisory services within the financial and capital markets in Latin America and the Caribbean. The awards ceremony took place on…
Banking & Finance, Blog, Costa Rica, News
BLP advised Davivienda in Scotiabank’s Acquisition in Costa Rica
09
Jan
Jan
In a significant move within the financial sector, BLP provided comprehensive legal counsel to Banco Davivienda during the acquisition and integration of Scotiabank’s operations in Costa Rica. This transaction, encompassing banking, insurance, and leasing businesses, highlights BLP’s expertise in navigating complex mergers and acquisitions in the region. This agreement is part of Davivienda’s strategic expansion…
Banking & Finance, Blog, Honduras, News
New Regulatory Reform in Honduras: What You Need to Know About Credit and Debit Card Transactions
18
Dec
Dec
The National Banking and Insurance Commission (CNBS) has introduced significant changes to Articles 5 and 20 of the Minimum Guidelines for the Prevention of Unrecognized Transactions involving debit cards, credit cards, and financing products. These reforms aim to strengthen security and transparency in financial transactions. Key Highlights of the Reform 1.Notification to Cardholders Financial institutions…
Banking & Finance, Blog, Environmental, Social and Governance (ESG), Honduras, News
BLP advises on Honduras’ first foreign currency sustainable green bond issuance
02
Dec
Dec
BLP is proud to have acted as local legal advisor for Santander US Capital Markets LLC and Citigroup Global Markets Inc. in the Republic of Honduras’ first sovereign green sustainable bond issuance. This historic transaction, carried out in the international capital markets, marks a significant step for the country in advancing projects focused on sustainability…
Banking & Finance, Blog, Costa Rica, News
BLP advised IFC on a $20 Million Investment in Grupo Farmanova Intermed (GFI)
28
Nov
Nov
BLP advised the International Finance Corporation (IFC), a member of the World Bank Group, on an investment of up to USD 20 million in Grupo Farmanova Intermed (GFI), a regional leader in marketing, sales, distribution, and logistics. This investment aims to expand access to high-quality, effective, safe medicines in Central America and the Caribbean. The…
Banking & Finance, Blog, El Salvador, Environmental, Social and Governance (ESG), News
BLP advises DFC and CAF on the most significant debt conversion in history to conserve watersheds in El Salvador
29
Oct
Oct
DFC, the U.S. government’s international development bank, provides $1 billion in political risk insurance (PRI), while CAF is issuing two letters of credit (SBLC) for up to $200 million. The combination of DFC’s PRI and CAF’s SBLCs strengthens the credit risk supporting the transaction, catalyzing additional investment in conservation and ecosystem restoration efforts in the…
Banking & Finance, Blog, Guatemala, News
BLP advised FMO on a loan facility extended to Banco de Antigua, S.A.
08
Oct
Oct
BLP advised Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) on a loan facility granted in favor of Banco de Antigua, S.A. in Guatemala, in a principal amount of up to $15 million. This loan facility will enable Banco de Antigua to grant micro-loans to micro-entrepreneurs in rural areas in Guatemala, contributing to a positive impact on…
14
Aug
Aug
BLP has advised Bain Capital Special Situations on its preferred equity investment in MRO Holding, Inc., a world-class aircraft maintenance repair and overhaul company operating in El Salvador, México, Colombia, and the United States and which is a holding of Aeromantenimientos S.A., a leading provider of airframe heavy maintenance in El Salvador. The first tranche…
Analysis, Banking & Finance, Blog, Costa Rica
Is it possible to collect an electronic promissory note or bill of exchange?
12
Aug
Aug
Author https://blplegal.com/wp-content/uploads/2024/07/ART-Letra-de-cambio-y-pagare-electronico_FOTO.png José Pablo Rojas Director Costa Rica E-mail For those who had the opportunity to read the two previous articles (and if not, the link is here), you will remember that we are already clear that in Costa Rica, it is valid to issue electronic promissory notes or bills of exchange (whether “electronified” 1or…