A company arguing that the Venezuelan government is preventing it from claiming US$400 million from the Lehman Brothers’ estate has seen its case thrown out by a New York court on grounds of lack of jurisdiction.
Protecting domestic revenue is just one of several reasons why G-20 nations are cracking down on tax havens. Other reasons include their desire to track the international flow of funds used for terrorist activity or money…more
The benefits to mediation over litigation are substantial: it’s ultimately less expensive than proceeding to trial; it saves time; and it avoids the hidden costs of litigation, which often include reduced productivity and,…more
Shari’ah-compliant finance and banking has mushroomed in recent years despite its prohibition on accepting interest on loans and its application of other limiting Islamic principles. Let’s briefly examine the current state of…more
It’s an age-old theory: New ideas spark new business opportunities. In 2009, the “Bitcoin” network was launched, introducing a worldwide virtual currency. The idea of an Internet-based monetary system had been tossed around…more
Latin America’s “Culture of Corruption” -
The notion that there is a “culture of corruption” in Latin America has led some writers to note that decades of unstable economies and turbulent politics in the region have…more
1.1 What authorities can prosecute business crimes, and are there different enforcement authorities at the national and regional levels?
The Office of the Attorney General of Colombia, “AGO” (Fiscalía General de la…more
Chile and Canada updated their 16-year-old free-trade accord last month, agreeing to changes that will provide financial services companies in the two countries with improved access to each other's markets.
Many economists consider the 2008 economic meltdown the worst financial crisis in the U.S. since the 1930’s Great Depression. The threat of the total collapse of large financial institutions and key businesses, a devastated…more
Corruption is prevalent in the global marketplace. Colombia is not an exception. It currently scored 94 in the Corruption Perceptions Index of 2012 - the 36th most corrupt of 176 countries measured. However, in order to fight…more
No longer headline news, you may be wondering… “What happened to the Libor scandal?” Answer: It is not gone, and the residual effects remain unresolved. To date, at least a dozen international banking institutions still face…more
MIAMI, Sept. 19, 2013 – New Bolivian illicit-enrichment charges against former Aerosur Airlines owner Humberto Roca parallel those that Mario Fabrizio Ormachea recently offered to have dismissed for $30,000 in extortion money,…more
Miami, Florida – The FBI arrest Saturday, Aug. 31, of Mario Fabrizio Ormachea, the colonel leading Bolivia’s Anti-Corruption Unit, for attempting to extort money from former Aerosur Airlines owner Humberto Roca, [United States…more
For the mass media chorus, postwar Iraq has come to resemble an emblem of American failure. Spurts of violence seem to be embedded into the fabric of everyday life, plaguing the country with disturbing regularity…more
U.S. prosecutors have recently filed an indictment against the operators of the Costa Rica-based currency exchange, Liberty Reserve, accusing it of helping criminals around the world to launder more than US$ 6 billion…more
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