FEBRUARY 2009 EDITION ARCHIVE
Legal Updates
300 PALABRAS - 2009 Elections: A Comeback for the PRI?
Opinion by Dr. Mario Melgar-Adalid Mexico's Congressional mid-term elections will be held this July. This round of elections is of great political significance given the fact that Mexico's Congress plays an increasingly important role in Mexican politics. Currently, no political party controls the number of seats required to pass legislation in Congress and, needless to say, the necessary two-third's majority to amend Mexico's Constitution. This situation forces members of Congress... [Read More]Recent Case Decision – Verifying Merchandise in Transport for Customs Purposes
The Second Chamber of Mexico's Supreme Court recently approved case decision 2a./J.197/2008 under the following caption "Verification of Merchandise in Transport for Customs Purposes. If the authorities decide to transport goods to a determined site for further inspection, the authorities must prepare a written record at the time such goods are transported for inspection". In its holding, Mexico's highest court stated that for the purpose of guaranteeing due respect of applicable... [Read More]New Requirement for Recognition and Execution of Foreign Judgments in Mexico
On December 30, 2008 various provisions of the Mexican Commerce Code (Código de Comercio) and Federal Code of Civil Procedure (Código Federal de Procedimientos Civiles) were amended in regard to requirements for recognizing foreign judgments in civil and mercantile cases in Mexico. The amendment establishes that "a foreign Judge or tribunal is not competent when, in the legal acts leading to the decision that is sought to be executed, a clause exists providing for submission of... [Read More]Amendments to Real Property Boundary Delimitation Procedures in the State of Nuevo Leon
A reform to the State of Nuevo Leon's Code of Civil Procedure was recently published in the Official Periodical of the State of Nuevo Leon that allows parties to carry out boundary delimitation proceedings before a notary public, so long as no controversy exists among the neighboring property owners. If any one of the neighboring property owners opposes the proposed boundary delimitation, the notary public must suspend his or her work so that the case may be submitted for a corresponding proceeding... [Read More]Extension of Benefits by the Mexican Social Security Institute (IMSS) for Unemployed Workers
On January 7, 2009, Mexican President Felipe Calderon issued the National Decree to Benefit Family Economics and Employment for Family Well Being (the "Decree"). The Decree seeks to protect jobs and support family income. Among other aspects, it extends Social Security coverage to unemployed workers. Retroactive to January 1st, employees are entitled to medical and maternity coverage from the Mexican Social Security Institute, which coverage has been extended from two to six months for... [Read More]Mexico Publishes Instructions and Format of the Annual Operations Certification for Annual Reports to the Registry of Emissions and Transfer of Pollutants
On February 5th Mexico's Department of the Environment and Natural Resources (Secretaría de Medio Ambiente y Recursos Naturales or SEMARNAT) published in the Official Journal of the Federation a Decree Amending and Adding various Provisions regarding the Instructions and Format of the Annual Operations Certificate for the Annual Report submitted to the Registry of Emissions and Transfers of Pollutants, which has now been implemented in Mexico. This measure was adopted in order to provide... [Read More]Business & Politics Outlook
Mexican Department of the Economy Publishes Operational Rules for the Job Preservation Program
In the context of the recently published National Decree to Benefit Family Economics and Employment for Family Well Being covered in last month's CCN Mexico Report, the Department of the Economy recently announced in the Official Journal of the Federation, as part of the Operational Rules for the initiative called the "Employment Preservation Program (Programa para la Preservación del Empleo), the High Technology Industries Development Program (Programa para el Desarrollo de las Industrias... [Read More]Economic Indicators
Pesos/Dollar Exchange Rate
The quoted exchange rate as of February 12, 2009 was $14.53 pesos per dollar.
Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on February 12, 2009 at 19,358.25 points.Interest Rates
On February 12, 2009, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 7.93%.Mexico IP Info
Nullifying Trademarks Based on Prior Use Outside of Mexico
Mexico's Industrial Property Law (Ley de la Propiedad Industrial) allows trademark owners who have previously registered their marks outside of Mexico to claim protection of such marks, and potentially obtain a nullification of competing marks registered in Mexico. This is important given that non-Mexican companies often find that their trademarks that have been previously registered outside of Mexico are not available in Mexico, and that they can potentially be subject to lawsuits for trademark... [Read More]