Dear Clients and Friends, On March 25, 2020, the National Banking and Securities Commission (“CNBV”) jointly with the Ministry of Finance and Public Credit (“SHCP”), reported that, in order to mitigate the economic effects derived from the contingency due to the SARS-CoV2 virus (COVID-19), the CNBV has issued certain special and temporary accounting criteria applicable…
Dear Clients and Friends, Today, on March 31st, the Accord establishing extraordinary actions to address the health emergency arising from the Covid-19 virus was published in the evening edition of the Official Gazette of the Federation. As an extraordinary measure, the immediate suspension of non-essential activities from March 30th to April 30th, 2020 is established…
Dear Clients and Friends, We inform you that the Technical Council of the Mexican Institute of Social Security (“IMSS”, for its acronym in Spanish) approved the online contingency disability process of COVID-19. Under this new process, the person with symptoms of the disease must complete a screening questionnaire on the website of such Institute to…
Dear Clients and Friends, Yesterday, March 30, the General Health Council issued an Agreement declaring a health emergency due to force majeure of the epidemic generated by the SARS-CoV2 virus (COVID-19) (“Agreement”), published in the afternoon edition of the Official Gazette of the Federation. The Agreement will be in force until April 30th and establishes that…
Dear Clients and Friends, In view of the concerns and interest generated by our release “COVID-19 and Real Estate”, we decided to broaden our commentary to take into consideration other points which will help us better understand this phenomenon. The world is currently facing a health crisis due to the COVID-19 pandemic. In Mexico we…
Dear Clients and Friends, On March 24th, the agreement/decree that establishes preventive measures for the mitigation and risks control regarding the SARS-CoV2 virus (COVID-19) was published in the Official Gazette of the Federation. These measures will be mandatory for the public, private and social sectors, and must be implemented as of March 24. Among the…
Dear Clients and Friends, Through notice no. 414.2020.654 (“Notice”), dated March 20, 2020, the Undersecretariat of Industry, Trade and Competitiveness announced measures to ensure the continuity of several international trade procedures in the coming weeks, in order to protect the health of workers and users. Measures, in force as of March 23, are as follows:…
Dear Clients and Friends, Covid-19 is already having implications in the real estate sector. Developers, constructors, financial investors, and users of commercial real estate must remain abreast of developments in the sector. As in other fields, the description of relevant subjects below may change rapidly, as the legal framework and regulations may vary significantly in…
Dear Clients and Friends, As of today, no health contingency has been declared, however, it is important to be prepared. Preventive Measures For the time being, the work centers must operate normally and adopt the recommendations issued by the Ministry of Health to avoid risks of contagion in the work center. According to the Federal…