Marval, O'Farrell & Mairal

Marval News

The Newsletter of Marval, O'Farrell & Mairal April 29, 2005

N°

Summoning and acting of foreign companies registered with the Public Registry of Commerce of the City of Buenos Aires

The “Inspección General de Justicia” regulated the summoning and acting of foreign companies.

Banking and Finance

Argentine Supreme Court rules in favor of the “pesification” of public debt securities subject to Argentine law and the deferral of such debt

In the “Galli, Hugo Gabriel y otro c/ Poder Ejecutivo Nacional” case, the Argentine Supreme Court rejected a request that Decree No 471/2002 (ratified by article 62 of Law No 25,725) be declared unconstitutional and ratified the Argentine Government’s powers to unilaterally defer the payment of public debt during an economic emergency.

The gray market and the public debt exchange

Delay in the issuance of new bonds to be exchanged resulted in the Mercado de Valores de Buenos AiresS.A. terminating gray market transactions.

Intellectual Property - Internet and Information Technology

Domain name renewals and “WHOIS data” update

As from June 1, 2005 the renewal system for domain names registered under the extension “ar” will come into force.
Argentine Registry of Data Bases - Reminder

The Argentine Registry of Data Bases will be implemented soon.

Labor Law

The Supreme Court decided on the entry into effect of the Emergency Law

The Supreme Court recognized the provisions of Decree 50/02 whereby it established January 6, 2002 as the date of entry into effect of the Law 25,561. Moreover, the Court understood that article 16, of Law 25 561, disregarding Decree 50/02, must be interpreted as effective as of January 6, 2002 that is, one day before its publication, given the particular aims pursued and the contrary consequences that could result from any delay in the application of the law.

Maritime and Air Law

Regulatory rules to Decree No 1010/2004 regarding the Argentine merchant navy

The Undersecretariat of Ports and Waterways has issued regulatory rules to Decree No 1010/2004, by which ship owners must return to the Argentine Registry ships that had been provisionally “flagged out”.

Natural Resources, Utilities and Energy Law

New regulatory framework for liquefied petroleum gas

Law No 26,020 appproved new regulatory framework for the industry and commercialization of Liquefied Petroleum Gas (LPG).

Tax and Customs Law

Taxability of the profit derived from the use of Consolidation Bonds (“Bonos de Consolidación”)for the payment of tax liabilities

The Argentine Supreme Court of Justice ruled in the “Petrolera Pérez Companc S.A.” case, which discussed the treatment under Income Tax applicable to the profit derived from the use of Consolidation Bonds at face value and purchased at a lower price, for the payment of tax liabilities, pursuant to Decree No 316/1995.

Investment Projects
Horacio García Prieto gave a presentation at the Seminario on Invesment Projects organized by Infobae Profesional on April 27, 2005. To see a copy of his presentation click [here].
Corporate Law
Osvaldo Norte Sabino gave a presentation at the Seminar on Practical Aspects of Resolutions of the “Inspección General de Justicia”, organized by Cámara de Sociedades Anónimas on April 27, 2005. He was also a speaker at the Seminar on Corporate Issues organized by Errepar on April 25, 2005.
International Law Competition
María Paula Morelli was a member of the Argentine team at the Philip C Jessup International Law Moot Court Competition, held in Washington DC.The Argentine team was ranked third in the preliminary rounds, where 103 teams from 80 countries participated, and reached the advanced rounds, with a final position among the four semifinalist teams. The Argentine team was awarded the "Alona E.Evans" award to the fifth best memorial.
Debt restructurings
Roberto E Silva (jr) gave a presentation on private debt restructurings at the "Finance Forum: Corporate Finance after public debt exchange" organized by Forum on April 21, 2005.
Appointment
Hernán Slemenson has been appointed Division Chair (formerly Council Committee Liaison) of the Section of International Law of the American Bar Association.
Securities issuance
Marval, O’Farrell & Mairal counseled Banco Hipotecario and BACS Banco de Crédito y Securitización in the third securities issuance under the global programme “Cédulas Hipotecarias Argentinas”. For more information click [here].
Democracy and Law
Juan E Cambiaso gave a presentation at the conference organized by The Cyrus R. Vance Center for International Justice Initiatives “A Profession Supportive of Democracy - Strategy Summit for the Americas”, held in New York on March 3-5, 2005. To see a copy of his presentation click [here].

Roundtable: Holding up the pillars of justice: How can the legal profession support democracy?-Article with an opinion by Juan E Cambiaso, published in Latin Lawyer, Vol 4, No 2, April 2005, p. 17.
Time to plug in? Is joining a legal network an imperative?Article with an opinion by Alfredo M O’Farrell, published in Latin Lawyer, Vol 4, No 2, April 2005, p. 20.
Argentine courts suspend antitrust approval of transactionsArticle by Alfredo M O’Farrell and Miguel del Pino published in Latin Lawyer, Vol 4, No 2, April 2005, p. 43.
Más allá de las fronterasArticle related to law firm networks with an opinion by Alfredo M O'Farrell, published in Abogados Corporate, a supplement to the business newspaper El Cronista of April 25, 2005,p. 1.
Expertos analizan el plan antievasión. El nuevo plan podría traer juicios al Estado. Calificados tributaristas señalaron aspectos discutidosArticle with an opinion by Horacio García Prieto, published in Infobae Profesional of April 21, 2005, p. 4.
Preparan normas para evitar el abuso en la comercialización de seguros a través de bancosArticle with an opinion by Pablo S Cereijido published in the business newspaper El Cronista of April 15, 2005, p. 25.
¿Cuál es la sanción por no 'conocer al cliente'?Article by Gonzalo Oliva Beltrán, published in www.microjuris.com on April 14, 2005.
Abogados argentinos en China Article with and opinion by Iris V Quadrio and Mario L Turzi, published in the newspaper La Nación on April 12, 2005.
La copia privada en la actualidadArticle by Mariela Becker published in www.microjuris.com on April 11, 2005.
Los escenarios posibles ante los laudos del CIADIArticle with an opinion by Fernando Aguilar published in Infobae Profesional on April 7, 2005.
Luz verde para reformar la Ley de Sociedades Comerciales - El Ministerio de Justicia dará a conocer a mediados de este mes el anteproyecto de reforma a la ley 19.550, elaborado por los Dres. Anaya, Bergel, Etcheverry y OtaeguiArticle with an opinion by Osvaldo Norte Sabino published in www.infobaeprofesional.comon April 5, 2005.
Seguros. Protección para altos ejecutivosArticle with an opinion by Pablo S Cereijido published in the newspaper La Nación on April 3, 2005.