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Marval News

The Newsletter of Marval, O'Farrell & Mairal May 31, 2005

N°
39
The Central Bank of the Republic of Argentina established new limits on the possibility of having access to the Argentine Foreign Exchange Market to make portfolio investments out of Argentina, when principal and/or interest of foreign debt are due and unpaid.In addition, it clarified regulations on the required minimum term to be elapsed in order to cancel payment obligations under foreign debt refinancing agreements.

Banking and Finance

Commercial and Competition Law

  • Unusual development in the Cencosud / Ahold transaction injunction in Mendoza
    During the course of 2004 several decisions issued by the Federal Court of the City of San Rafael, Province of Mendoza affected a transaction between Disco Ahold International Holding N.V. and Cencosud S.A. for the latter’s acquisition of the Disco and Vea supermarkets in Argentina. This transaction, as well as another transaction between the shareholders of Multicanal S.A. and Cablevisión for the possible acquisition of the latter, have been suspended by different Federal Judges of the Province of Mendoza based upon the assumption that the National Tribunal for the Defense of Competition has not been created and consequently there is no legal agency with powers to analyze the antitrust effects of both transactions.

Corporate Law, Foreign Investments, Mergers and Acquisitions

Intellectual Property - Internet and Information Technology

Labor Law

Natural Resources, Utilities and Energy Law

Tax and Customs Law

  • Stocks sale and the Income Tax Law (Cont.)
    Latest pronouncements regarding the application of the income tax on results obtained from the transfer of non-quoting stocks by Argentine-resident individuals show a criteria divergence between the Solicitor General and the National Tax Court.
  • Tax benefits for exploration and exploitation of hydrocarbons
    In May 2005 the Argentine Government presented a bill before Congress to promote the exploration and exploitation of hydrocarbons in Argentine territory (including the continental shelf) in exchange for tax benefits.

News at Marval

  • Parallel imports
    Miguel B O'Farrell gave a presentation on “Parallel imports” at the working breakfast on "Exhaustion on rights: trademarks, patents, copyrights" organized by Universidad Austral on May 26, 2005.
  • First locally funded syndicated loan since Argentine default
    Marval, O’Farrell & Mairal gives advice in first locally funded syndicated loan since Argentine default. For more information, click [here].
  • Protection of data bases
    Sergio M Ellmann gave a presentation on legal protection of data bases, confidentiality law and unfair competition at the Seminar on Legal Protection of Data Bases organized by Universidad Austral with the sponsorship of the Dirección Nacional de Datos Personales on May 16, 2005.
  • Domain names
    Miguel B O’Farrell, a member of the List of Domain Name Panelists of the WIPO Arbitration and Mediation Center, has decided the cases Globosat Programadora Ltda. v. J. Almeida” <globosat.com> and D2005-0223 “Group Kaitu, LLC y Darkside Productions, Inc. v. Burmar Promociones E Imagen, S.L.” <erosguia.com>. For a full text of these decisions please see:http://arbiter.wipo.int/domains/decisions/html/2005/d2005-0199.html and http://arbiter.wipo.int/domains/decisions/html/2005/d2005-0223.html
  • Trademarks
    Iris V Quadrio gave a presentation on “A Decade of Dilution” at the Annual Meeting of the International Trademark Association (INTA) held in San Diego, California on May 14-18, 2005. To see a copy of her presentation, click [here]. Iris Quadrio also attended the meeting of INTA’s Exam Guidelines Subcommittee, currently chaired by her.
  • Antitrust
    Fernando C Aranovich gave a presentation on “Developments in Private Enforcement of Argentine Antitrust Law” at the 1st Antitrust Spring Conference, organized by the International Bar Association in Rio de Janeiro, Brazil, on May 12-13, 2005.