JANUARY 2008 EDITION ARCHIVE

• • Legal Updates

    Important Cases to Be Decided by the Mexican Supreme Court in 2008

    On January 2, 2008 the Chief Justice of the Mexican Supreme Court of Justice of the Nation (Suprema Corte de Justicia de la Nación or SCJN), Justice Guillermo I Ortiz Mayagoitia, opened the first term of the court’s sessions this year, presenting the cases that will be heard by the SCJN in 2008. Included among such cases are unconstitutionality actions to be heard by the court related to access to information, recordings and certifications of criminal proceedings held in the state of... [Read More]

  • Notice and Service of Process on Persons Domiciled in Mexico with Respect to Foreign Civil and Comme

    In addition to the Federal Code of Civil Procedures (Codigo Federal de Procedimientos Civiles) and Commerce Code (Codigo de Comercio), which contain rules for processing a judgment or letter rogatory issued by a foreign court in order to provide notice or service of process to an individual or company domiciled in Mexico, Mexico has signed various international treaties and conventions seeking to make these transmittals more efficient and speedy, including the Interamerican Convention concerning... [Read More]

  • 2008 Minimum Wages

    Each year in Mexico the National Minimum Wage Commission (Comisión Nacional de los Salarios Mínimos), comprised of representatives from the employer, labor and government sectors, determines general and minimum wages applicable for the following year. Minimum salaries governing various trades or positions (laborer, truck driver, cashier, etc.) and general minimum salaries apply to workers or officials not contemplated as professionals, and the amount depends on the location of the worker... [Read More]

  • Recent Case Decision – Statutory Auditors May Not Serve as Legal Representatives

    The First Chamber of the Mexican Supreme Court of Justice of the Nation recently issued a case decision (citation 1s/J.143/2007) establishing the following: “Legal attorney in fact. A power of attorney granted by a corporation to its own statutory auditor (Comisario) is not a valid legal grant of authority.” In the same case the Supreme Court held that any power of attorney granted to a statutory auditor to carry out legal acts on behalf of the corporation granting such power of attorney... [Read More]

  • Business & Politics Outlook

    Editor's Note - Happy New Year 2008

    In this first CCN Mexico Report of the year, the attorneys and staff of CCN would like to wish our clients, friends and readers a happy and prosperous 2008. We appreciate the opportunity to bring you the CCN Mexico Report every month. Our attorneys and staff prepare the CCN Mexico Report in order to keep readers informed of political and economic news and, above all, important legal developments that could impact their businesses and investments in Mexico, which would hopefully allow them to operate... [Read More]

  • Mexico Continues to Control Imports of Medication through the “Plant Requirement”

    The “plant requirement” established in article 168 of the Regulations of Raw Materials for Health Products (Reglamento de Insumos para la Salud) states that “in order to hold a sanitary registration permit for a medication, one must have a permit for a medication manufacturing or laboratory, or biological products for human use,” which requirement essentially means one must install a manufacturing plant or laboratory in Mexican territory, whether one is a Mexican or foreign... [Read More]

  • Economic Indicators

    Pesos/Dollar Exchange Rate

    The quoted exchange rate as of January 10, 2008 was $10.96 pesos per dollar.

  • Mexican Stock Exchange

    The Mexican Stock Exchange (BMV) closed on January 10, 2008 at 29,069.56 points.

  • Interest Rates

    On January 10, 2008, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 7.94%.

  • Mexico IP Info

    Trade Secrets

    Mexico’s Industrial Property Law (Ley de la Propiedad Industrial) recognizes and protects so called trade secrets. The Law defines a trade secret as “all information of industrial or commercial applications that an individual or corporation maintains confidential which imply the acquisition or maintenance of a competitive or economic advantage before third parties in carrying out business activities and with respect to which it has adopted sufficient means or systems to preserve the confidentiality... [Read More]

  • Feature Website

    www.diputados.gob.mx

    This month we recommend our readers visit the webpage of the Mexican Chamber of Deputies, http://www.diputados.gob.mx where they may obtain, among other documents, the Daily Debate Transcript (Diario de Debates) and the Parliamentary Gazette (Gaceta Parlamentaria).