Partners Christoph Sieger y Fabio Guzmán Saladín reelected President and Vice President of the Dominican German Chamber of Commerce

Christoph Sieger and Fabio Guzmán Saladín, partners of Guzmán Ariza, were reappointed as President and Vice President of the Board of Directors of the Dominican German Chamber of Commerce for the period 2018 – 2020. The new appointment took place on March 15 at the general assembly of the Chamber.

At the end of the meeting, Dr. Sieger urged members to continue working hard to encourage trade between Germany and the Dominican Republic, as well as promote business opportunities in the DR.

[March 2018]

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]

Fabio Guzmán Ariza stands out as a Dominican who worked on the development of the Pan-Hispanic Dictionary of Legal Spanish

The Royal Spanish Academy of Letters (RAE) published the Diccionario panhispánico del español jurídico (Pan Hispanic Dictionary of Legal Spanish), with the presence of the King of Spain, Felipe VI, and the Dominican lawyer Fabio Guzmán Ariza, who was one of the contributors who worked on the local research and drafting of the piece.

The work, the result of the agreement signed between the RAE and the General Council of the Judicial Power (CGPJ) of Spain, has been directed and coordinated by Santiago Muñoz Machado the secretary of the Royal Academy of Letters and Professor of Administrative Law.

Guzmán Ariza, as a lawyer, Numerary member of the Dominican Academy of Letters and Corresponding member of the Royal Spanish Academy of Letters, was the Dominican academic responsible for collaborating in the development of this dictionary, which consists of 2,220 pages, divided into two volumes, and that will be the reference text for the entire Ibero-American legal community.

The dictionary is the result of a collaboration between 23 academies of the Spanish language worldwide and all of their countries’ Judicial Branches, in an effort to clarify the legal language and strengthen the unity of the Spanish language throughout the Spanish-speaking world.

In the presentation of the Dictionary have participated, in addition to King Felipe VI, directors and delegates of the 23 academies of letters, presidents, representatives of each of the supreme courts of Spain and Latin America, including Don Mariano Germán Mejía, president of the Dominican Supreme Court of Justice, as well as the President of the University of Salamanca.

[December 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]

Melissa Sosa joins Guzmán Ariza as Special Counsel

Guzmán Ariza, Attorneys at Law, is pleased to announce that, effective October 2, 2017, Melissa Sosa has joined the firm as Special Counsel to the Litigation Team.

Melissa Sosa practices in the firm’s Litigation department, where she focuses on complex administrative, commercial and criminal litigation. She has assisted foreign companies, individual clients and international non-profit entities in administrative litigation proceedings.

She has created jurisprudential precedents in terms of the Writ procedures (Amparo), as well as free access to public information.

Mrs. Sosa received her LL. B. from Universidad Autónoma de Santo Domingo, magna cum laude, and three LL. M. from Pontificia Universidad Católica Madre y Maestra, Universidad de Salamanca and Universidad Panthéon-Assas.

Guzmán Ariza is a Dominican law firm, founded in 1927, with more than 40 lawyers and seven offices throughout the Dominican Republic. Our multilingual and multinational group of attorneys are capable of assisting international investors across a wide variety of practice areas.

[November 2017]

Partner Fabio Guzmán Saladín elected member of SCG Legal board of directors

Fabio Guzmán Saladín, partner in the law firm Guzmán Ariza, was elected member of the board of directors of SCG Legal for the period 2018 – 2020.

Guzmán Ariza is the exclusive member in the Dominican Republic of SCG Legal, a global alliance of 148 top, independent law firms, with more than 11,000 attorneys in nearly 450 offices in 82 countries and six continents.

[September 2017]