Author: pmalaw

Founding Member Javier D. Ferrer Tapped to Serve as President of the Government Development Bank for

Javier D. Ferrer, one of the founding members of the Firm, has been designated by Governor-elect Alejandro García Padilla to serve as the President of the Government Development Bank for Puerto Rico (“GDB”). GDB serves as the bank, fiscal agent and financial advisor to the Government of Puerto Rico. As of June 30, 2011, GDB had, on a consolidated basis, more than $15 billion in assets and over 400 employees. The president of GDB is instrumental in delineating and executing the island’s fiscal policy and overall economic development. Since its founding more than twenty years ago, Javier has been instrumental in PMA’s success. Among the wide array of areas of his corporate practice, he has represented financial institutions in all aspects of compliance and regulation, including banking and securities laws; insurance companies; and as well as buyers and sellers in M&A and capital market transactions. Managing Member Jaime E. Santos said, “Although we will miss Javier as he embarks on this new professional challenge, we at PMA are very excited about the contributions he will make to the overall fiscal and financial wellbeing of Puerto Rico.”

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PMA’s Securities Litigation Group Scores Victory for Popular Sec., Inc. in Arbitration Before FINRA

Litigation Member Heidi L. Rodríguez and Limited Member Sara L. Vélez recently achieved a favorable outcome for Popular Securities, Inc. and three of its registered representatives in a securities fraud claim filed before FINRA. After a three-day evidentiary hearing, FINRA dismissed the claims in their entirety and recommended expungement for the three individuals involved.

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PMA Tax Practitioners Have Recently Published Several Articles and Portfolios on PR Taxation

Edgar Ríos-Méndez is the author of the Puerto Rico tax section that forms part of the renown publication “Global Tax Guide” from BNA International. Also, the Edgar Ríos-Méndez and Jeanelle Alemar-Escabí co-authored the recently published portfolio Business Operations in Puerto Rico by BNA Tax Management and the article Investment Destination: Puerto Rico – New Tax Incentives to Lure Business and Individual Investment published by Tax Management Weekly State Tax Report. In addition, Edgar Ríos-Méndez participated as speaker in the 2012 Puerto Rico Credit Conference promoting Puerto Rico as an International Financial Center by explaining the Puerto Rico and federal tax implications of doing business in Puerto Rico under recently enacted Puerto Rico tax incentives laws. http://www.bgfpr.com/PRCC2012/VideosConf/PRIFC.html

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Oreste R. Ramos becomes President Elect of PR Chapter of FBA and Fellow of the Foundation of the FBA

Litigation Partner Oreste R. Ramos was recently elected as President-Elect for the 2011-2012 term of the Hon. Raymond L. Acosta Puerto Rico Chapter of the Federal Bar Association. The Puerto Rico Chapter is the Fourth Largest in the Nation. He will be holding the position of President of the Chapter during the 2012-2013 Term. Mr. Ramos was also recently nominated as a Fellow of the Foundation of the Federal Bar Association. The Foundation is a non-profit, Congressionally-chartered organization. Its mission is to promote and support legal research and education; advance the science of jurisprudence; facilitate the administration of justice; and foster improvements in the practice of federal law.

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PMA counsel to PR PPP Authority in largest public private partnership to date in Puerto Rico

PMA acted as counsel to the Puerto Rico Public-Private Partnerships Authority in connection with the procurement and award of the largest public private partnership established to date in Puerto Rico, involving the concession of the PR-22 and PR-5 Toll Roads. The group of Abertis Infraestructuras and Goldman Sachs Infrastructure Partners II, L.P. was selected as the preferred bidder with a bid of $1.080 billion. The concession agreement was executed on June 27, 2011 and the transaction is expected to close during the third quarter of 2011. Partners Manuel R. Pietrantoni, Javier D. Ferrer and Manuel Rodriguez handled this matter.

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PMA successfully represents UPR in Court of Appeals

In Irizarry Mora v. University of Puerto Rico, CA1-09-2314: Successfully represented the University of Puerto Rico on appeal before the U.S. Court of Appeals for First Circuit which affirmed a U.S. District Court (“USDC”) ruling that the university is immune from suit in federal court under the doctrine of sovereign immunity of the 11th Amendment to the U.S. Constitution. Partner Oreste R. Ramos argued the case on behalf of the University during the oral argument hearing.

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