Banco Azteca Legal
- octubre 3, 2022
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The head of the legal department is David Estuardo Portilla Rivera, who leads the team and defines the legal strategy to monitor and achieve the organization`s goals and plans. He also supervises and monitors all administrative, operational and business-related matters within the Legal Department. Portilla Rivera is the team leader responsible for both corporate affairs (back office, including the legal aspects of all branches) and all legal issues related to the operation of the organization in all its business locations. Portilla Rivera reports directly to the General Manager. The Legal Department currently consists of the Chief Counsel and three Legal Assistants who are lawyers, each responsible for the following areas: corporate matters, operational matters and attention to official investigations. The team consists of a group of five legal analysts and a person responsible for the administrative affairs of the ministry. In addition to our technical and professional skills, we have found that «soft skills» have allowed us to become a «business partner» and to accompany all processes from start to finish. We value teamwork, flexibility, creativity and adaptability to ever-changing circumstances and our goal of finding solutions to complex problems. For an in-house legal advisor, it is very important to be the leader of your own team, manage your time wisely and work with attention to detail. But above all, he or she must maintain and set the standard for ethical work that demonstrates integrity, responsibility, responsibility and discipline. About Greenberg Traurig`s Mexico City office: Greenberg Traurig`s Mexico City office provides clients with innovative strategic advice and legal services that span both traditional and modern regulatory sectors. The firm has more than 60 bilingual lawyers who have contributed to major national projects in Mexico and leverage the resources and reach of the firm`s global platform to provide its clients with tailored legal services that reflect the specific conditions of the industry and market in which they operate.
The Mexico City office is an integral part of the company`s award-winning practice in Latin America and has been recognized for its competitive, corporate, M&A, compliance, infrastructure, real estate, privacy, energy, administrative and banking practices in Mexico. Over the past two years, one of the most important implementation processes in which the legal department has been involved has been the creation of the department`s attention to official requests. The main challenge in this task was to develop a fast and rapid procedure to respond quickly and accurately to these official requests, which also meets the formal requirements imposed by the authorities. In addition, we participated in the analysis and advice of the introduction of new products. One of the possible issues I looked at for this reflection were the credit card bills, which were once constitutionally challenged. A new initiative is under discussion and has been of particular interest to the Guatemalan banking sector because the interest rates to be calculated were limited. The first law stopped operations in the credit card sector and caused social turbulence. I also thought about writing about the challenges that technological advances pose to Guatemala`s banking legal framework, as well as the effective adoption of electronic signatures and financial and banking services, which is a very fashionable topic these days.
However, after thinking about the goal, I decided to share my own experience as head of the company`s legal team and as a member of that team. I think it is important to also share the challenges and issues that this project represents for me. The team I currently lead has evolved according to the needs of the company, and the leaders were created and designed to be a business partner and provide effective legal advice to the company. We serve various internal customers as we operate in multiple markets and cover many products. Therefore, we have designed a unit dedicated exclusively to the management of all business matters and documents and agreements to be carried out with third parties and within the group. After that, it became necessary to set up an operational department responsible for handling disputes, focusing on reducing risks and reducing legal contingencies on a case-by-case basis, with the aim of obtaining favorable decisions with minimal losses for the company. Finally, we determined that a unit must be appointed to be responsible for processing and communicating with formal requests. Not worrying about such requests or not doing so in a timely and orderly manner could be a sanction for the company. For this reason, current management has designed a program to process formal requests.
This is an example of effective procedures in action. This growth has been a response to the needs and objectives of our company, which always aims to provide high quality services and excellent service standards. It has not been easy to select the right staff for the tasks to be performed and to train and update them continuously to create a good working environment for the accomplishment of the assigned tasks. A functional work environment that allows for the personal growth and professional development of the team is a constant inspiration to me. Developing procedures that effectively handle internal and external requests, as well as creating mechanisms to get the job done efficiently, has been a challenging but very rewarding undertaking. With all the lessons we learned from being the leader of the legal team and having the unparalleled honor and opportunity to create it from scratch, the key was to be a leader for my team. The reflection of self-confidence, knowledge and skills has given all our members the opportunity to thrive in their own careers and become the best in their own fields. It has also allowed all of us to provide exceptional and trustworthy legal services to the organization and our clients. The bank was criticized in a 2007 BusinessWeek magazine article for abusing microcredit practices in Mexico due to lax bankruptcy, consumer protection and country interest laws.   There was a Brazilian branch called Banco Azteca do Brasil S/A, which opened in 2008 and was liquidated amicably in 2016.
The Greenberg Traurig team that advised BAZ was led by infrastructure and finance company Rodrigo Orozco Waters and his partner Edgar Fernando Orozco Ceballos. Orozco Waters said in a statement: «The Mexican market has experienced a slowdown in PPP structures in recent years, we are pleased to advise Banco Azteca on the financing of this strategic project.» The $4.47 billion (about $224 million) loan is divided into several tranches. Under the PPP, Conservadora will receive payments from the Mexican state for the implementation of the rehabilitation project. The loan guarantee package includes a percentage of the resources that the State of Mexico receives from the tax on the costs of remuneration for personal work (Impuesto Sobre Erogaciones al Trabajo Personal (ISRTP)). About Greenberg Traurig: Greenberg Traurig, LLP employs more than 2400 lawyers in 43 offices in the United States, Europe, Latin America, Asia and the Middle East. The company, often known for its focus on philanthropic giving, innovation, diversity and volunteerism, reported gross revenue of more than $2 billion for fiscal 2021. The firm is still one of the best law firms on Am Law 100, Am Law Global 100, NLJ 250 and Law360 (US) 400 standards. On the first Law360 Pulse Leaderboard 2022, it is in the top 15 companies. Greenberg Unfortunately, Mansfield Rule 4.0 Certified Plus by The Diversity Lab is net carbon neutral in terms of energy consumption in its offices. Home page: www.gtlaw.com. With regard to the new laws, we can note that the Constitutional Court recently ruled that the procedure provided for by the tax legislation for the Guatemalan Tax Authority (SAT) to request information from banks on the accounts and funds deposited therein and the modification of the obligation of confidentiality contained in the Law on Banking and Financial Groups, which is an important task, must be fulfilled.
The regulation has led us to review and adapt internal procedures in order to respond to the requested information and provide it as soon as possible. This article related to banking and insurance is a heel. You can help Wikipedia by extending it. Lawyers from the Mexico City office of global law firm Greenberg Traurig advised Banco Azteca (BAZ) on a syndicated loan to Conservadora Mexiconse de Caminos del Sur (Conservadora) for the rehabilitation and maintenance of 1,637 kilometers of roads and highways in the State of Mexico under a public-private partnership (PPP). Banco Azteca was founded in March 2002 when Grupo Elektra received the required financial services license. The Bank became operational on 30 October 2002.