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January 16, 2018

Morgan & Morgan advised Banistmo, S.A. in the structuring and registration of revolving corporate bonds for an amount of up to US$300 million

Morgan & Morgan advised Banistmo, S.A. in the structuring and registration with the Superintendency of Capital Markets of Panama of US$300,000,000 revolving corporate bonds. The bonds will be issued in different series with maturities ranging from 2 to 15 years and interest rates may be fixed or floating. Banistmo, S.A. is a wholly owned subsidiary
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January 14, 2018

Morgan & Morgan advised MMG Bank Corporation in the structuring of a program of revolving corporate bonds for an amount of up to US$100 million

Morgan & Morgan advised MMG Bank Corporation in the structuring of a program of revolving corporate bonds for US$100,000,000 of Corporacion Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI). The bonds were registered with the Superintendency of Capital Markets of Panama. The issuer of the bonds is CIFI and MMG Bank acted as arranger and
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January 6, 2018

Morgan & Morgan advised MMG Bank Corporation in the structuring of a program of revolving short-terms notes for an amount of up to US$50 million

Morgan & Morgan advised MMG Bank Corporation in the structuring of a program of revolving short-term notes for US$50,000,000 of Corporacion Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI). The short-term notes were registered with the Superintendency of Capital Markets of Panama. The issuer of the short-term notes is CIFI and MMG Bank acted as
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December 29, 2017

Morgan & Morgan advised Banco General, S.A. and Banistmo, S.A. in the structuring of an issuance of corporate bonds for an amount of up to US$320,000,000 carried out by Alternegy, S.A.

Morgan & Morgan advised Banco General, S.A. and Banistmo, S.A. in the structuring of an issuance of corporate bonds for an amount of up to US$320,000,000 carried out by Alternegy, S.A. The bonds were issued by Alternegy, and Banco General and Banistmo acted as joint arrangers and underwriters of the bonds. The bonds were registered
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December 26, 2017

Morgan & Morgan advised Grupo Eleta in the sale of a minority stake in the Pear Island Project to the Grivalia Group

Morgan & Morgan acted as Panamanian counsel to Grupo Eleta in the sale of a minority stake in the Pear Island Project to the Grivalia Group, a global real estate investment company. Pedro Gonzalez Island (Pearl Island) is located at Archipelago Las Perlas, Pacific Ocean.  The project consists of the integrated development of approximately 1,600
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November 7, 2017

Morgan & Morgan represented a recognized company in the electricity sector in a criminal compliant

Morgan & Morgan represented a prestigious company in the electricity sector, in a criminal complaint filed against them, their directors and technical staff, for the alleged commission of crime against collective security. Partner Omar Rodriguez and associates Rodolfo Palma, Humberto Vanegas and Mayte Sanchez, participated in this process.
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June 14, 2018

Nestor J. Broce elected President of the Rotary Club Panama South

Nestor J. Broce, lawyer of Morgan & Morgan was sworn as president of the Rotary Club Panama South for the period 2018-2019. The Rotary Club Panama South is a civic group founded in 1971 by business and professional men and women engaged in implementing humanitarian services programs in the community. They channel their individual, personal
May 16, 2018

Latin Lawyer highlighted Morgan & Morgan

Once again, Latin Lawyer 250 recommended Morgan & Morgan as the largest firm in Panama.  “A large headcount and an established presence in the market gives Morgan & Morgan the manpower and experience required to guide some of Panama’s most significant transactions”, states the guide. This 2018 edition looks at each jurisdiction firm by firm
May 11, 2018

Francisco Linares re-elected as Chairman of the Panamanian Maritime Law Association

Panamá, April 30, 2018. Dr. Francisco Linares, partner of Morgan & Morgan, was re-elected as Chairman of the Board of Directors of the Panamanian Maritime Law Association for the 2018-2019 term. The act took place last April 20 at Club Union in Panama City, with the presence of personalities and professionals of the legal and
May 7, 2018

Ana Cristina Castrellon is designated Deputy Representative of the Rotary Club Panama to the National Oncology Institute Administrative Board

Ana Cristina Castrellon, associate of Morgan & Morgan, has been appointed Deputy Representative of the Rotary Club Panama, in its capacity as member of the Administrative Board of the National Oncology Institute (ION). ION engages in research and treatment of cancer patients in the Republic of Panama. Ms. Castrellon will participate in Board meetings of
April 25, 2018

TerraLex named Global Network of the Year

Panama, April 24, 2018.  As the proud TerraLex member firm for Panama, we are excited to announce that The Lawyer named TerraLex “Global Network of the Year” at its annual European Awards program in London. Recognized as the benchmark of excellence in the European legal sector, The Lawyer European Awards honors leaders in the market.
April 25, 2018

Morgan & Morgan presents forum: Trends in Labor Matters 2018, what are the new regulations?

Panama, April 25, 2018. Morgan & Morgan announces forum on “Trends in Labor Matters 2018: What are the new regulations?” to be held on Tuesday, May 29, from 8:00 a.m. to noon at the Titanio conference room of The Americas Golden Towers in Panama City. The event is addressed mainly to businesspeople, managers, human resources
April 12, 2018

Morgan & Morgan is internationally recognized for its Pro Bono program

Panama, March 27, 2018. For the fifth consecutive year, Morgan & Morgan has received the “Leading Lights” recognition in Latin America for the Pro Bono program that the firm executes with the invaluable support of its team of lawyers. This distinction was granted by the British publication Latin Lawyer, who together with the Cyrus R.
April 6, 2018

Foreigners with nationalities that require an entry visa may enter Panama with a Schengen Visa

By means of the Executive Decree No. 114, as of April 4th, 2018, foreigners of nationalities that require a visa to enter the Republic of Panama may enter with a Schengen Visa or current European Union Residence. Comments: By means of the Executive Decree No. 114 of April 4th, 2018, any foreigner who requires a
April 6, 2018

Citizens of the Republic of India will require a Stamped Visa to enter in Panamanian territory

By means of the Executive Decree No. 113 of April 4th, 2018, the Republic of India is included within the countries that require Stamped Visa issued by Panamanian Consulate, to enter the national territory. Comments:  This Executive Decree only applies to nationals of the Republic of India. Officials from the National Immigration Authority and the
March 27, 2018

Travel permit for minors will be online

As of April 1st, the travel permits for minors must be done only digitally.  Comments: The interested party must access the website of the National Immigration Authority (migracion.gob.pa), then go to the section “Online Immigration” – option “Requests” and thus access to “Minors Permits”. Attach the following documents in PDF: Copy of Passport (Residents) or
June 15, 2018

Regulatory immigration framework: Options to immigrate and work in Panama

Albalira Montufar, Partner, Immigration Law  Panama has become a popular destination to immigrate in the region, due to its economic growth and socio-political stability, which contrasts with other neighboring countries´ intricate conditions.  Within the last decade, multiple infrastructure projects, as well as incentives favorable to establish and operate multinational companies, have resulted in an increase
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June 8, 2018

The Republic of Panama: A Hub for Multinationals

Alvaro E. Tomas and Carlos Ernesto Gonzalez Ramirez, partners, Morgan & Morgan What has made corporate stalwarts such as Maersk (shipping), Procter & Gamble (consumer goods), LG (electronics), Caterpillar (construction equipment), CEMEX (construction materials) , Nike (sports equipment and apparel) and Heineken (breweries), just to name a few, choose to establish their headquarters in this
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June 6, 2018

The Tax Residence in Panama

By: Amanda Barraza de Wong, Associate, Tax Law With Panama being a jurisdiction whose tax system is based on the Principle of Territoriality, and whose economy revolves around financial, legal and logistic services… what policy should it have with regards to foreign capital? Certainly a policy for attracting direct foreign investment. Capital that provides financing
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May 15, 2018

Panama: Sexual harassment in companies and in the education sector

By: Ricardo Alemán, partner, Morgan & Morgan The International Labor Organization (ILO) defines sexual harassment as “any conduct of unwanted sexual nature that, according to the reasonable perception of the recipient, interferes with their work, is established as a condition of employment or creates an intimidating hostile or offensive work environment.” As the jurist Oscar
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April 15, 2018

Deduction of education expenses

Article published in the Tax Column of the newspaper La Prensa (April 15, 2018) The National Assembly approved a bill that will allow individual guardians and taxpayers to deduct education expenses incurred with respect to their minor dependent or dependents, which includes (but not limited to as we understand) enrollment and school fees, as well
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April 11, 2018

The tax rule that subsists over time

Article published in the Tax Column of the newspaper La Prensa (April 1, 2018) Someone once told me: “well-made rules subsist over time.”  On the 7th of May, Cabinet Decree 109/1970 and its amendments, which regulate the Directorate General of Revenue (DGI), will celebrate 48 years since its approval. To read the full article click
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