The number of real estate investment trusts is increasing in Mexico and investor confidence is on the rise as drug-related crime and violence are tackled by the government. On the construction front, the outlook is also positive as government infrastructure spending increases and the housing market picks up. In this expanding sector, we list 32 lawyers.
Recent amendments to the federal competition law have created a wealth of work in the sector. The modifications, effective as of 7 July 2014, create two new independent bodies, one of which will now deal with telecoms matters separately from the more general competition authority. Given the amount of time and resources previously spent on telecoms investigations, it is expected that the separation of the new authorities and the broader enforcement powers given to the federal economic competition commission will lead to a greater number of investigations in other areas. We list 20 “top-quality” specialists who anticipate an extremely busy upcoming year as a result.
Following a record-breaking year for equity funding in 2013, practitioners reported some trepidation earlier this year as to whether this level of activity could continue. Happily they have seen a steady workflow of deals, and are optimistic for an equally strong 2015. In this area we recognise 22 “outstanding” practitioners.
The Mexican judicial system has come under intense international scrutiny after a US lawsuit has alleged that Yahoo! and its legal counsel Baker & McKenzie conspired to overturn a $2.7 billion judgment against the internet giant. The proceedings filed by two Mexican companies in September claim that an appeals judge was bribed into reducing the fine to $172,500. The plaintiffs have also claimed that the Mexican courts are too corrupt for the lawsuit to be filed domestically. This case throws new light on this infamous part of business culture in Mexico. We have selected the four best business crime lawyers in the country.
Mexico’s economic acceleration has helped drive up government spending and private consumption in the TMT sector. The IT segment is being reinforced by outsourcing demands from the US, increased demand for cloud computing and infrastructure development, as well as new government projects such as the National Digital Strategy and hosting the World Congress on Information Technology for the first time. The liberalisation of the telecoms market promises to further build the marketplace. A telecoms reform law passed in mid-2013 has borne a new regulator aimed at removing barriers to foreign investment and reducing the market share of the dominant operators. As a result, América Móvil recently announced that it was selling assets to comply with new antitrust regulations that forbid companies from controlling more than a 50 per cent share of the market. In this highly promising sector we have identified 15 leading lawyers.
Since 2009, the Mexican government has focused on modernising its procurement system. The newly rationalised scheme has eradicated 586 obsolete procurement regulations, increased the participation and awarding of contracts to SMEs, and saved the government over $1 billion. The government has also established the Federal Procurement Anti-Corruption Law, which is tackling the country’s notoriously endemic bid ridding. Mexico still falls short of international conventions on transparency, objectivity and competition, but significant improvements in this area have boosted public works and generated economic growth. We have listed eight leading lawyers in this increasingly energised market.
Project finance is a well-established sector in Mexico, particularly in the oil, gas, electricity and water industries. In recent years, the Mexican government has given increased financial backing to infrastructure development, having set up the National Infrastructure Fund to allocate funds for major projects and enable greater private sector participation. Project finance has become a popular structure for large infrastructure initiatives in the jurisdiction, especially for projects linked with government concessions, and as a result lawyers have seen a steady flow of advisory work over the past year. Our research identifies 32 leading practitioners.
Mexico is a fertile investment opportunity for private equity investors and aided by the country’s steady economic growth and favourable regulatory changes, annual fundraising has increased nearly sixfold between 2008 and 2012. In 2014, Corp Actinver raised $62.3 million for a Mexico-focused fund, joining KKR and General Atlantic, who are also exploring opportunities in the country. In this burgeoning legal sector, we recognise eight specialists.
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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.