News

July 3, 2020

As of today, maximum interest rates apply to all types of loans in Costa Rica, as per amendments to the Law of Promotion of Competition and the Effective Defense of the Consumer introduced by Law # 9859 published on June 20, 2020. Charging interest rates above the legal maximum will constitute the crime of usury under the law. Most market interest rates for loans in Costa Rica are below the legal maximum, except in the case of credit cards and unregulated consumer loans. Here is the official notice of the Costa Rican Central Bank published today:

https://link.btalegal.com/lmv

June 5, 2020

Following the adoption of Law No. 9736 on the Strengthening of Competition Authorities, Costa Rica begins the process of integrating the new top body of the Competition Commission (the “Coprocom”), a key issue in the country’s OECD accession process. The terms of the public contest to select new full time members were published today in the official journal “La Gaceta”. According to the law, the Government must make the appointments and send them for legislative ratification by 18 August 2020. See the terms of the public contest here (from page 12):

https://link.btalegal.com/iuv

May 14, 2020

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Our partner, Alberto Fernández López, participated today as a guest panelist in the webinar “Conciliation and Arbitration in the Region: Challenges and Opportunities in the face of Covid-19”, organized by the conciliation and arbitration centers of Central America and the Dominican Republic.

April 23, 2020

The Latin American Association of Construction Law (ALDEC) publishes in its April newsletter an article co-written by our partner, Alberto Fernández López, on FIDIC contracts, pricing in construction contracts and the use of dispute boards. The article is available here:

https://link.btalegal.com/ab9

 

March 16, 2020

Costa Rica’s Ministry of Health is issuing regulations and guidelines related to the COVID-19 pandemic, applicable in the public and private sectors. We are providing legal advice to our clients on corporate and regulatory issues involved in the implementation of such regulations. The official list of COVID-19 related regulations and guidelines is available here:

https://link.btalegal.com/wji

February 13, 2020

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Our partner Alan Thompson was recognized as a winner of the Banking Law category for Costa Rica in the 2020 edition of the prestigious Lexology Client Choice awards. Established in 2005, Client Choice recognizes those law firms and partners around the world that stand apart for the excellent client care they provide and the quality of their service. Uniquely, law firms and partners can only be nominated by corporate counsel. For more information:

https://www.clientchoice.com/

December 16, 2019

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Important forums on Costa Rica’s new competition law took place last week in San José, one on December 10 organized by Lead University and another on December 13 organized by the Competition Commission (COPROCOM). Our partner Alan Thompson participated in both forums as a guest panelist and spoke about the expectations around this recent legal reform and the challenges of future authorities. Here a video with comments made by Mr. Thompson on the December 10 forum:

https://link.btalegal.com/9qz

November 18, 2019

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Law # 9736 strengthening Costa Rican competition authorities enters into force today following publication in the official bulletin “La Gaceta”. Under this law, the Competition Commission (COPROCOM) will become a full-time administrative tribunal and its budget will be significantly increased. Also, both the COPROCOM and the Superintendence of Telecommunications (SUTEL) will have more powers to conduct antitrust investigations, market studies and competition advocacy activities. The law introduces new pre-merger notification thresholds, new procedural rules and stronger penalties for antitrust violations. See the full text of law # 9736 here:

https://link.btalegal.com/ley9736

October 15, 2019

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Dispute boards can be a useful mechanism for resolving disputes in construction and infrastructure projects.  Our partner, Alberto Fernández-López, moderated a panel on the role of dispute boards in infrastructure projects held today at the Costa Rican Congress.

October 4, 2019

ArbDay

Arbitration Day 2019, organized by the Costa Rican Young Arbitrators group, was held today at the Costa Rican Bar Association in San José. BTA Legal co-sponsored the event and our partner Alberto Fernández-López was one of the main speakers.

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Ofiplaza del Este, Edificio B, Piso 1
San José 11503, Costa Rica
Tel. +506 2234 8413
Fax +506 2283 3515
Apartado postal 470-2050
E-mail : [email protected]

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