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HUNTON & WILLIAMS TRANS-PACIFIC PARTNERSHIP OFFERS INVESTORS NEW
PROTECTION AND DISPUTE RESOLUTION OPTIONS
The Trans-Pacific Partnership (“TPP”) is a free-trade agreement among Australia,
Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore,
Vietnam and the United States (the “TPP Members”). While, as reported, an
agreement on the TPP was reached on October 5, 2015, each of the TPP Members
must still enact the TPP. On November 5, 2015, the full text of the TPP trade
agreement was released to the public for the first time. Investor Protection An
important component of the TPP for investors is the chapter on investments in TPP
Member countries. Consistent with many other bilateral and multilateral investment
agreements, the TPP’s investment chapter offers protections for investors from TPP
Members who invest in other TPP Members. These protections include: (1) according
treatment no less favorable than that accorded to a TPP Member’s own investors;
(2) according treatment no less favorable than that which a TPP Member accords to
other foreign investors; (3) granting a minimum standard of treatment in
accordance with customary international legal principles; and (4) prohibitions
against expropriation, except in limited circumstances, in which case investors must
be compensated. The provisions apply to both existing and future investments.
Dispute Resolution Mechanism In what has become an issue of considerable
controversy, the TPP includes dispute resolution provisions that call for international
arbitration. Accordingly, if a TPP Member breaches any of the protections provided
in the TPP—for example by expropriating an investment—the investor may submit a
claim to arbitration. In presenting the arbitration, the investor can avail itself of
several alternative forums and rules, depending on its nationality. For example, if the
investor is a national of a country that is a party to the Washington Convention,
which may govern the settlement of international investment disputes, and the
expropriating TPP Member is also a party to the Washington Convention, the claim
may be brought before the International Centre for the
Settlement of Investment Disputes (“ICSID”) under the ICSID
Rules of Procedure. If either the investor’s country or the TPP
Member is a party to the Washington Convention, the claim
can be brought under the ICSID Additional Facility Rules. Alternatively, the investor
may bring an ad hoc arbitration pursuant to the arbitration rules of the United
Nations Commission on International Trade Law (“UNCITRAL”). The investor and the
TPP Member can mutually agree to any other arbitral institution arbitration rules. The
TPP’s dispute resolution clause has several other notable features. First, the TPP
expressly allows TPP Members permission to bring counterclaims against investors.
This is significant, as it is unclear whether, in the absence of such a provision, a state
may bring a counterclaim. Second, the TPP has a broad transparency clause, under
which all pleadings, awards and decisions of a tribunal must be publicly disclosed,
as well as minutes and transcripts of hearings, except for the portions designated
confidential. Third, unlike most other investment treaties, the TPP calls for the creation
of a code of conduct for arbitrators. This provision addresses a serious concern and
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topic of debate within the arbitration © 2015 Hunton & Williams LLP 2 community,
thereby dealing with criticism of arbitrators’ not being subject to a binding
international code of conduct. Considerations As disputes with TPP Members unfold,
choosing the appropriate arbitration forum and rules are key strategic
considerations for investors, as each has its own advantages. For example, the ICSID
Convention calls for member states to recognize and enforce an award as if it were
a final judgment of a member state’s own courts. Awards rendered pursuant to the
UNCITRAL Rules and the Additional Facility Rules may be recognized and enforced
under the New York Convention, which creates additional steps in the recognition
and enforcement process. The TPP is part of a broader landscape of multilateral and
bilateral trade agreements that protect international investors by providing for
international arbitration before a neutral arbitral tribunal. Hunton & Williams LLP’s
international arbitration practice is prepared to assist those who must navigate that
landscape. Should you need any advice concerning the protections that will soon
be available to international investors under the TPP, and that are currently available
under other trade agreements, please contact a member of the Hunton & Williams
international arbitration team.
Contacts
Gustavo J. Membiela gmembiela@hunton.com
John Jay Range jrange@hunton.com
Thomas C. Goodhue tgoodhue@hunton.com
OHL HA LOGRADO LA MAXIMA CALIFICACION EN EL CDP CLIMATE CHANGE
2015
El Grupo OHL ha obtenido la máxima puntuación, 100A, en el
CDP Climate Change 2015, gracias a la cual forma parte del
Climate A List (antes, Climate Performance Leadership IndexCPLI), lista integrada por el 5 % de las empresas con mayor
puntuación y desempeño del mundo. Este resultado posiciona a OHL como una
empresa de referencia entre las compañías integrantes del IBEX 35, por su
compromiso en favor de la transparencia y gestión del cambio climático.
En materia de transparencia, OHL se ha posicionado durante las cuatro ediciones
en el Climate Disclosure Leadership Index (2011, 2012, 2014 y 2015) lo que refleja,
entre otros aspectos, la prioridad que la compañía concede a la integración del
cambio climático en su estrategia empresarial. Además, el Grupo también
participa en los programas CDP Supply Chain (cadena de suministro) desde 2011;
CDP Water (relativo a la gestión del agua) desde 2012; y ha participado, por
primera vez en el año 2015, en el cuestionario CDP Forests referente a la
deforestación.
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OHL participa, desde 2009, de forma voluntaria y pública en la iniciativa CDP,
situándose en un nivel destacado dentro del ranking de participantes. El Grupo
forma parte del programa Climate Change a través de la muestra CDP Iberia 125
Climate Change, que analiza las estrategias de cambio climático de las 125
mayores empresas cotizadas en bolsa de España y Portugal, valorando tanto el
desempeño (Performance), que considera las actuaciones realizadas en cambio
climático en una escala creciente desde E hasta A, como la transparencia en
divulgación (Disclosure), que analiza el nivel de detalle y comprensión del reporte
en una escala de 0 a 100.
Reconocimiento
Luis García-Linares, director General Corporativo del Grupo OHL, ha sido el
encargado de recoger la distinción otorgada a la compañía por su inclusión en A
List, en un encuentro que ha servido para presentar el Informe 2015 Cambio
Climático CDP, Edición Iberia 125, y que ha tenido lugar el 4 de noviembre en
Madrid en el Ministerio de Agricultura, Alimentación y Medio Ambiente. En el marco
de este encuentro se ha celebrado la mesa redonda La ruta hacia la COP21:
Principales acciones en España. Expectativas sobre los resultados en las
negociaciones y la financiación de la economía verde española, en la que ha
participado Manuel Villén, director de Innovación y Sostenibilidad del Grupo OHL.
Durante su intervención, Manuel Villén ha destacado el Compromiso del Grupo OHL
en materia de Energía y Cambio Climático, establecido en 2007 y que se
materializa, entre otros, a través de un Plan de Reducción de Emisiones que fija
como objetivo para 2015 la reducción de los alcances 1 y 2 en un 5% con respecto
a 2010 y un Plan de Compensación de Emisiones que se desarrolla desde 2011.
Asimismo, ha incidido en la importancia de la innovación para dar respuesta al
modelo de crecimiento verde mediante la oferta de nuevas soluciones y
tecnologías sostenibles.
CDP es la organización de referencia internacional, sin ánimo de lucro, de la que
son firmantes 822 inversores con 95 billones de dólares en activos. Proporciona la
base de información ambiental corporativa más grande del mundo en materia de
cambio climático y de protección de los recursos naturales: agua y foresta.
SPAIN EMBASSY
PUBLICACION TTIP: BENEFICIOS PARA PYMES
El pasado día 26 de octubre de 2015 se presentó la publicación "TTIP: una gran
oportunidad para las pymes españolas" que ha sido realizada conjuntamente por la
Secretaría de Estado de Comercio y la Comisión Europea. Esta publicación está
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disponible en versión digital en la web de la Representación de la Comisión
Europea en España: http://ec.europa.eu/spain/sobre-la-ue/ttippymes/espana_es.htm. Se trata de una página web dinámica, abierta a nuevas
aportaciones de pymes en la pestaña “Envíanos tu historia”. Al mismo tiempo, se ha
realizado un video con el testimonio de 4 empresas que estará disponible en la
web, y que de momento se puede ver en el siguiente enlace:
https://www.youtube.com/watch?v=IPlfZuJXyhM
EEUU TABACO
IMPERIAL TOBACCO FORMA TABACALERA USA PARA AMPLIAR NEGOCIO DE
CIGARROS EN EEUU
Miami (EE.UU.), 27 oct (EFE).- Con casi 400 años de historia,
TABACALERA, líder mundial en ventas de cigarros Premium
hechos a mano, ha constituido TABACALERA U.S.A., , con el
objetivo de supervisar, los activos de cigarros premium de
IMPERIAL TOBACCO en los Estados Unidos, informó hoy la empresa.
Esta nueva Compañía la componen ALTADIS U.S.A., una de las empresas líderes en
cigarros Premium en Estados Unidos y que distribuye marcas emblemáticas como
Montecristo, Romeo y Julieta, H Uppman o Vegafina; y 800 JR Cigars, que
comercializa cigarros online y cuenta con una cadena de tiendas propias.
TABACALERA es una de las compañías tabaqueras más antigua del mundo, y
desde 1636 recoge el origen, tradición y saber hacer de los mejores cigarros hechos
a mano del mundo, por los mayores expertos torcedores, forjando su espíritu de
excelencia en cada cigarro.
Desde su origen y, a través de distintas fusiones y adquisiciones, se ha consolidado
como el mayor experto y líder mundial en cigarros premium, que
ahora redobla y fortalece su apuesta por el mercado
norteamericano.
La nueva compañía estará liderada por Javier Estades, actual
responsable de Altadis USA, con sede en Fort Lauderdale (Florida)
que reportará a Fernando Domínguez, CEO Mundial de
TABACALERA S.L.U., ubicado en las oficinas centrales en Madrid.
“TABACALERA U.S.A. engloba un conjunto de compañías separadas e
independientes, pero vertebradas en torno a una idea de excelencia y saber
hacer, que nos permitirá expandir nuestra presencia en los Estados Unidos y
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capitalizar los cambios y oportunidades que nos traiga el futuro”, afirmó Fernando
Domínguez.
Según Javier Estades, “después de cuatro años consecutivos de crecimiento y
consolidación de nuestro negocio en los Estados Unidos, TABACALERA U.S.A., nos
permite reconocer y honrar nuestra historia en el mundo del cigarro premium, y es
la mejor respuesta que podemos ofrecer a nuestros clientes y consumidores en los
Estados Unidos para garantizar en el presente y en el futuro, un producto y servicio
premium, adecuado a sus expectativas”.
TABACALERA U.S.A. nace con el aval del Grupo Imperial Tobacco, uno de los
mayores grupos mundiales en el mercado del tabaco. Tanto Altadis U.S.A y JR
Cigars seguirán siendo independientes y mantendrán sus estructuras actuales,
reportando a Javier Estades, nuevo CEO de TABACALERA U.S.A.EFE
abm/cmm
TOTALBANK REPORTS RECORD $4 MILLION NET INCOME FOR THIRD QUARTER
MIAMI—October 28, 2015—TotalBank today reported third quarter net income of
$4.05 million, an 81 percent increase over the third quarter of 2014. The Bank’s yearto-date income is $11.7 million, an increase of $4.2 million over the prior year.
“We are extremely pleased with our third-quarter results as well as the results for the
year as a whole, and we expect to continue our strong momentum in the final
quarter of the year,” stated President and CEO, Luis de la Aguilera. “TotalBank
continues to deliver consistent, steady results quarter after quarter while focusing on
deposit generation and diversified loan growth,” he continued.
The Bank generated $109 million of new loans in the community during the quarter,
resulting in a $31 million increase in the loan portfolio for the quarter. Total deposits
increased to $101 million, a five percent increase year over year, with non-interestbearing deposits increasing $33 million.
“Our positive results serve to validate our customer-centric business model and our
continued desire to expand organically in Miami-Dade County and inorganically in
South Florida,” said Jose Marina, Executive Vice President and Chief Financial
Officer.
The Bank’s capital ratios continue to be strong. Its quarter-end Tier 1 capital ratio was
15.92 percent, and its Tier 1 leverage ratio was 11.20 percent, ratios that are well
above the FDIC’s standards for a well-capitalized bank.
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In August, TotalBank announced the launch of its Private Client Group, offering
domestic, full-service banking focused on the professionals market and high-networth individuals. Jay Pelham, Director of the Private Client Group, is leading this
new division that also encompasses the Bank’s wealth management services.
TotalBank also maintained its 5-star rating from BauerFinancial, Inc., a source for
unbiased and independent bank and credit union star ratings for 14 consecutive
quarters. A 5-star rating indicates that TotalBank is one
of the strongest banks in the nation, and that it excels in
areas of capital quality, asset quality, profitability and
more.
In the fourth quarter, TotalBank will open its relocated Palmetto Bay Banking Center
at 16475 South Dixie Highway.
About TotalBank
TotalBank is a leading integrated retail-commercial bank in South Florida with more
than $2.7 billion in assets and 19 convenient locations throughout Miami-Dade
County. Headquartered in Miami, TotalBank has served the South Florida community
for 40 years, offering a broad range of domestic and international financial services
to corporations, small businesses and individual consumers. The bank offers superior
customer service focused on meeting the financial needs of customers while
earning their confidence and loyalty. A member of Grupo Banco Popular Español,
with $190 billion in assets and 2,000 branches, TotalBank is strengthened by its parent,
one of the largest banking groups in Spain. For additional information visit our
website at www.totalbank.com. Follow us on Facebook, Twitter, LinkedIn,
and YouTube.
MAPFRE INSURANCE NOW OFFERS TRAVEL INSURANCE
MAPFRE Insurance is excited to announce that we now offer affordable, quality
travel insurance plans.
MAPFRE's travel insurance policies are available to
customers up to the age of 100 and provide
coverage on trips that cost up to $25,000 with
medical coverage up to $250,000 and up to 180 days
of stay.
Key Highlights of the MAPFRE Travel Insurance Product
Pre-Existing Condition Waiver- We'll include a pre-existing condition waiver for
all policies purchased within 14 days of the initial trip deposit!
Primary Medical Coverage on International Travel-We offer primary medical
coverage internationally - to help reduce out of pocket expenses.
Family Plan Perks -Includes two children per traveling adult in the policy.
SEPTEMBER/SEPTIEMBRE 2015
Assistance Services- We offer amazing assistance services to our travelers that
includes coordination of all medical services.
Whether you’re taking the family on a vacation during winter or spring break or
planning trips abroad, our coverage options offer higher limits and packages
designed to fit your needs.
For more information please call our local agents at 305-715-3444. Please visit our
travel insurance page to learn more.
MAPFRE Insurance® is a brand and service mark of MAPFRE U.S.A. Corp. and its affiliates, American Commerce
Insurance CompanySM (Columbus, OH), The Commerce Insurance CompanySM (Webster, MA);
The travel insurance plan includes travel insurance and travel assistance services. Travel insurance provided by
American Commerce Insurance Company in all states except Massachusetts. Travel insurance in Massachusetts is
provided by The Commerce Insurance Company. Travel assistance services provided by MAPFRE Insurance affiliate,
Insure & Go Insurance Services USA, Corp., a licensed managing general agent in all fifty states .
HUNTON 7 WILLIAMS LISTED IN 2016 CHAMBERS LATIN AMERICA
MIAMI — October 13, 2015 —Hunton & Williams LLP and partner Fernando Alonso
have been included in Chambers Latin America 2016 rankings and commentary in
the categories Banking & Finance and Corporate/M&A.
The firm is recognized for its counseling of clients in corporate and project financings
across Latin America, and for its acumen on PPP throughout
the Americas. In addition, Hunton & Williams was a finalist for
International Counsel in Latin America in the Corporate &
Finance Florida-based category at the Chambers Latin
America Awards 2015.
Partner and Chairman of the firm’s Latin American practice group, Fernando Alonso
was listed as a notable practitioner for Banking and Finance, and was given a Band1 ranking for his corporate and M&A work in Latin America. Miami-based Alonso has
practiced in the corporate and securities, banking and international fields for more
than 25 years.
About Hunton & Williams LLP
Since our establishment more than a century ago, Hunton & Williams has grown to
800 lawyers serving clients from 19 offices worldwide. We have a strong industry
focus on consumer products and retail, energy, financial services and real estate.
Our global experience extends to myriad legal disciplines, including bankruptcy,
commercial litigation, corporate transactions and securities law, intellectual
property, international and government relations, regulatory law, privacy and
SEPTEMBER/SEPTIEMBRE 2015
cybersecurity, and products liability. For additional information visit our website at
www.hunton.com. Follow us on Twitter, LinkedIn, and YouTube.
HUNTON & WILLIAMS’ SIX LISTED AMONG 2015 SOUTH FLORIDA’S TOP RATED
LAWYERS
MIAMI — October 13, 2015 — Hunton & Williams LLP announces six of its Miami-based
lawyers are listed in the 2015 edition of South Florida’s Top Rated Lawyers, a resource
of South Florida’s lawyers who have earned an “AV Preeminent” rating from
Martindale-Hubbell.
Fernando C. Alonso, head of Hunton & Williams’ Latin America practice group, has
practiced in the corporate and securities, banking and international fields for more
than 25 years.
Terence G. Connor has more than three decades of trial and litigation experience.
He focuses on complex labor and employment claims.
Samuel A. Danon serves as the firm’s head of litigation. In addition to his domestic
practice, he counsels multinational corporations in connection with matters related
to operations in the Americas and the Caribbean.
Barry R. Davidson concentrates on civil litigation throughout the state of Florida, with
an emphasis on complex and class action business litigation, intellectual property,
antitrust and products litigation. He has tried cases in 28 Florida counties.
Juan C. Enjamio is managing partner of the firm’s Miami office and head of the
firm’s Miami labor and employment team. His practice focuses on the defense of
companies facing complex employment disputes.
Thomas R. Julin represents media and information companies in libel and privacy
cases and the prosecution of civil rights and access claims.
The Miami office of Hunton & Williams was established in 1999 and serves as the base
for the firm’s Latin America practice group. From this geographically ideal location,
Hunton & Williams represents domestic and international clients in a broad range of
issues and advises clients on corporate, litigation, labor and employment matters.
About Hunton & Williams LLP
Since our establishment more than a century ago, Hunton & Williams has grown to
800 lawyers serving clients from 19 offices worldwide. With an industry focus on
energy, financial services, consumer products and retail, and real estate, our global
SEPTEMBER/SEPTIEMBRE 2015
experience extends to myriad legal disciplines, including bankruptcy, business
litigation, corporate transactions and securities, intellectual property, environmental
and regulatory law, international and government relations, privacy and
cybersecurity, and products liability. For additional information visit us at
www.hunton.com, and follow us on Twitter, LinkedIn, and YouTube.
VIAJES EL CORTE INGLES
EXCLUSIVE OFFER FOR MEMBERS OF THE SPANISH CHAMBER OF COMMERCE IN
MIAMI
Book your Holiday Dinner Parties through Viajes El Corte Inglés and you will receive at
Restaurant Estiatorio Milos - Miami Beach:
a free cocktail reception, including a selection of signature canapés and one glass
of sparkling wine per person.
A minimum of 20 guests is required.
Come experience in Estiatorio Milos:
World class cuisine, hospitality and ambiance
Fully dedicated wait staff team for your event
Totally private room with natural lighting (one wall is all windows)
No time limit
No rental fee or hidden fees
Bespoke menus, designed to your tastes, by our Chef
Customized printed menus
Expert assistance in helping create an unforgettable event
67” flat screen TV to be used for presentations, videos, etc.
Free Wi-Fi
Room can be personalized in décor
Contact Elena Nogueira - Groups Manager
Phone: 305.858.0801 (ext 1300)
Direct: 305.858.8830
Fax:
305.858.8850
Email: enogueira@viajeseci.es
Viajes El Corte Inglés, Inc. (ECI Travel
175 SW 7th St - Suite 1200
Miami, FL, 33130
SEPTEMBER/SEPTIEMBRE 2015