Pietrantoni Mendez & Alvarez LLC co-sponsored the Puerto Rico Investment Summit

The firm co-sponsored the Puerto Rico Investment Summit, a two-day conference held in collaboration with Puerto Rico’s Department of Economic Development & Commerce and Paulson & Co. focusing on Puerto Rico as a business and investment destination. More than 200 investors and investment advisers participated in the conference to learn about Puerto Rico’s competitive advantages. Keynote speakers included hedge fund billionaire John Paulson, the CEO of Paulson & Co., investor Nicholas Prouty, president of Putnam Bridge Funding, Popular Inc. Chairman & CEO Richard Carrión and the Governor of Puerto Rico, Alejandro García Padilla. Edgar Ríos (Taxes) participated during both days of the conference. Mr. Ríos gave a presentation on “Tax Advantages: Act 20 for Export Services and Act 22 for Individual Investors” during the first day of the conference and served as a panelist of a Q&A session on Act 20 and Act 22 on the second day.

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PMA represents Paulson & Co in Condado Duo Acquisition

The Firm represented Paulson & Co., Inc. in connection with the announced $260,000,000 acquisition of the Vanderbilt Hotel and La Concha Renaissance Hotel and Casino in San Juan, Puerto Rico. The PMA team included Antonio J. Santos (Real Estate), Donald E. Hull (Banking), Antonio Molina (Real Estate), Edgar Ríos (Taxes), and Edwin Cruz (Environmental and Land Use). Paulson & Co., Inc., is a New York based investment management firm with approximately US $21 billion in assets under management.

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Former GDB President Javier D. Ferrer Rejoins PMA

Mr. Ferrer has rejoined the Firm after his service as President and Vice-Chairman of the Board of the Government Development Bank for Puerto Rico. He will continue to advise private sector clients and their leaders as part of the Firm’s Corporate Practice Group. “Javier is a tremendous legal talent and I am extremely pleased and proud that he has chosen to rejoin PMA,” said Jaime E. Santos, Managing Member of the Firm. “He is a proven asset to clients looking for creative solutions in the transactional area and who face significant legal and regulatory challenges.” “I am very excited to be back with my PMA colleagues and friends,” Mr. Ferrer said. “With the extraordinary talent and dedication of its lawyers and its unmatched reputation, the Firm continues to provide excellent services to its clients, helping them advance their objectives through top-notch advice for their most complex legal problems.”

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Litigation Associate Margarita Mercado Echegaray designated Puerto Rico Solicitor General

PMA is proud to announce that litigation associate Margarita Mercado Echegaray has been designated as Solicitor General of Puerto Rico. After receiving her JD, Magna Cum Laude, from the University of Puerto Rico and her LLM from Columbia Law School, Ms. Mercado Echegaray clerked for Associate Justice Hon. Anabelle Rodríguez-Rodríguez of the Puerto Rico Supreme Court and Hon. Juan R. Torruella, Judge of the United States Court of Appeals for the First Circuit.

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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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