News 2 Archives - Page 4 of 9 - Guzmán Ariza | The Dominican Republic Law Firm

Guzmán Ariza Represents PAWA in First Major Bankruptcy Proceeding in the Dominican Republic

PAWA Dominicana (Pan Am World Airways Dominicana) is the international flag carrier of the Dominican Republic, with scheduled flights to multiple destinations in the Caribbean and the United States.

Guzmán Ariza is representing PAWA in the first major bankruptcy/restructuring proceeding in the Dominican Republic under the new Mercantile Restructuring Law 141-15, a process which will involve hundreds of national and international creditors. The Restructuring Court in Santo Domingo accepted the firm’s bankruptcy filing request and has authorized preliminary proceedings to begin.

Partners Fabio Guzmán Saladín, Alberto Reyes and Rhadaisis Espinal lead the legal team assisting PAWA.

In January 2018, without prior notice, the Civil Aviation Authority of the Dominican Republic suspended PAWA’s operations for a period of 90 days, alleging nonpayment of airline and airport fees, leaving thousands of passengers stranded all over the Caribbean. Within a few days the airline was left with no choice but to file for bankruptcy.

[March 2018]

Three Days for the Incorporation of a Dominican Company

President Danilo Medina has ordered that the incorporation of companies in the country will take three days since the process starts; construction permits will not exceed 60 days, and; sanitary registrations will be completed in 45 days. The announcements are part of the new business strategy unfolded by the National Competitiveness Council.

In order to carry out these measures, the corresponding entities must present a work plan for the reduction of these deadlines and the standardization of the requirements, to ensure a greater number of jobs, facilitation and formalization of trade, as well as the promotion of imports and exports.

[ December 2017]

New Regulatory Framework for the Dominican Stock Market

President Danilo Medina signed into law the bill that modifies Law 19-00 on the Stock Market in the Dominican Republic, which seeks to promote efficiency and transparency in the stock market and the rights and interests of investors and to minimize systemic risk while promoting healthy competition in the sector.

The modification of Law 19-00 comes in a context in which the Dominican Republic will be evaluated in mid-January 2018 in aspects related to transparency and compliance.

The new legislation includes the preparation of 17 regulations related to the operation of the Superintendence of Securities; the tariff framework, intermediaries of the stock market, registry of over-the-counter operations, public offering of securities, relevant events and the Centralized Securities Depository. In addition, a regulation will be developed so that medium and small companies have the necessary facilities to access the stock market.

[December 2017]

Alfredo Guzmán Saladín Exposes on Real Estate Law in the Dominican Republic

Alfredo Guzmán Saladín, partner of the Guzmán Ariza Law Firm, participated as speaker in a private meeting organized by the International Women’s Club – Stayers at the Intercontinental Real Santo Domingo hotel.

Guzmán Saladín spoke about “Real Estate in the Dominican Republic: Purchase, Tax and Money Laundering. Overview”.

Guzmán Ariza is the No. 1 law firm in real estate in the Dominican Republic. The firm has a vast experience in all facets of the real estate business, from the representation of large investors in the financing and development of important real estate projects to advising individuals in the purchase or rental of vacation properties in the Dominican Republic.

[ November 2017]

Guzmán Ariza Supports German Investment in the Dominican Republic

Guzmán Ariza Law Firm participated in the conference “Decentralized energy supply with renewable energies”, where German businessmen shared their proposals for the power generation sector of the Dominican Republic.

The activity organized by the Dominican-German Chamber of Commerce together with the Federal Ministry of Economy and Energy of Germany provided a space to do business and that German companies could establish themselves in the Dominican market.

Guzmán Ariza participates actively in the activities of the Chamber. Our partner Christopher Sieger, he also collaborates with the Chamber, Fabio Guzmán Saladín, as vocal, and Giselle Pérez.

[ November 2017]

Guzmán Ariza Contributes to Getting the Deal Through: Restructuring & Insolvency, 2018

Fabio Guzmán Saladín, partner, and Pamela Benzán Arbaje, attorney at Guzmán Ariza law firm, recently coauthored the Dominican chapter of Getting the Deal Through: Restructuring & Insolvency 2018.

The publication provides comparative analysis of Restructuring & Insolvency regulations in different jurisdictions worldwide, with answers to crucial questions in key areas such as applicable legislation, excluded entities, secured lending and credit, competent courts, voluntary liquidations and reorganizations, involuntary liquidations and reorganizations, doing business during reorganizations, stays of proceedings and moratoria, set-off and netting, post-filing credit, expedited, successful and unsuccessful reorganizations, bankruptcy formalities, claims and appeals, voidable transactions, creditors’ enforcement, director and officer liability and international cases.

The Dominican chapter may be downloaded here: GTDT: Restructuring & Insolvency 2018.

Reproduced with permission from Law Business Research Ltd. Getting the Deal Through: Restructuring & Insolvency 2018, (published in November 2017; contributing editors: Catherine Balmond and Katharina Crinson, Freshfields Bruckhaus Deringer) For further information please visit gettingthedealthrough.com

[ November 2017]

Guzmán Ariza Among the Best Firms to Work for in Dominican Republic

Guzmán Ariza, Attorneys at Law, was ranked as one the best Dominican companies to work in 2017 by Mercado magazine’s annual survey of 80 leading Dominican businesses.

The firm placed in the top five businesses with less than 100 employees and in the top seven of all companies in employee satisfaction.

The magazine highlighted Guzmán Ariza’s culture of constant innovation, the many training programs offered to employees, and the emphasis on organization, proclivity, communication, honesty and transparency.

Mercado is one of the most prestigious and respected business publications in the Dominican Republic.

[June 2017]

Alberto Reyes is Appointed Member of the Legal Committee of the French-Dominican Chamber of Commerce

Alberto Reyes Báez, partner of Guzmán Ariza, was appointed permanent member of the Legal and Security Commission of the French-Dominican Chamber of Commerce and Industry (CCIFD).

The CCIFD legal committee, created in May 2017, is a permanent consultative body for the support of its members, the French and Dominican legal culture, as well as spokespersons for issues related to legal aspects of local, international, immigration and institutional trade.

Alberto Reyes has more than 13 years of experience and a postgraduate degree at the University of Paris, Panthéon – Assas.

[May 2017]

Dominican Republic Law Firm Guzmán Ariza is Celebrating its 90th Anniversary

The Dominican Republic law firm of Guzmán Ariza – the first and only national law firm in the Dominican Republic – is celebrating its 90th anniversary this year. Since 1927, Guzmán Ariza has focused on serving national and international businesses and individuals.

Fabio Guzmán Ariza, the firm’s managing partner, explained that the firm was started by his father, Antonio Guzmán, working solo in his home town of Salcedo, after graduating from the University of Santo Domingo Law School.

Now, Mr. Guzmán Ariza continued, the firm has seven fully-staffed offices strategically located in every major business and tourism center in the Dominican Republic and is “the only law firm in the Dominican Republic with a national reach.”

Mr. Guzmán Ariza added that the firm’s “commitment to the law and business principles, our responsiveness to clients, and our cost-effective practices have earned us the reputation within the international business community as a trusted and respected law firm that delivers results.” He stated, “We are honored to be celebrating our 90th anniversary with our clients, employees, partners, and friends.”

The law firm of Guzmán Ariza has more than 30 multilingual and multinational lawyers equipped to assist international investors across a wide variety of practice areas, including corporate and business law, mergers and acquisitions, project finance, banking, insurance and securities, taxation, intellectual property, litigation, real estate and condominium law, immigration, and family law.

After 90 years in the forefront, Mr. Guzmán Ariza said, the firm remains committed to assisting clients in an effective way in the time and at the place they need.

About Guzmán Ariza

Guzmán Ariza is the first and only national law firm in the Dominican Republic, with seven fully-staffed offices strategically located in Santo Domingo, Sosúa-Puerto Plata, Cabrera, Las Terrenas, Samaná, La Romana and Bávaro-Punta Cana.

The firm has been recognized as an outstanding Dominican law firm by Legal 500, Chambers and the International Financial Law Review, the premier guides to the world’s leading law firms.

Developing Countries Allowed to Import Generic Drugs

An amendment to the agreement on intellectual property entered into force securing for developing countries a legal pathway to access affordable medicines under World Trade Organization (WTO) rules.

The amendment to the Trade Related Aspects of Intellectual Property (TRIPS) agreement provides a secure and sustained legal basis for both potential exporters and importers to adopt legislation and establish the means needed to allow countries with limited or no production capacity to import affordable generics from countries where pharmaceuticals are patented.

The TRIPS amendment gives the world’s most vulnerable people access to drugs for diseases such as HIV/AIDS, tuberculosis and malaria.

[February 2017]