Governor Elect Fortuño Taps PMA Partner for Economic and Fiscal Reconstruction Advisory Council

At the request of Governor Elect Luis Fortuño, Partner Manuel R. Pietrantoni has joined a group of fourteen prominent Puerto Rico business leaders to recommend solutions to address and tackle the Island’s fiscal and economic challenges. As reported in the Tuesday November 11, 2008 edition of The Puerto Rico Daily Sun, the “work of the . . . [Economic and Fiscal Reconstruction Advisory Council] . . . is intended to guide the Fortuño administration after it takes office [on] January 2, 2009.”

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PMA successfully defends Banco Popular de Puerto Rico in antitrust case

Ticket Center Inc. v. Banco Popular de Puerto Rico, Case Num. 04-cv-20621. On October 31, 2008, the U.S. District Court for the District of Puerto Rico granted Banco Popular\’s motion for summary judgment and dismissed a $45 million Complaint for Ticket Center’s failure to provide any admissible evidence to prove that Banco Popular engaged in any anti-competitive activity in violation of the Bank Holding Company Act or the Sherman Act.

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Néstor M. Méndez Gómez participates in induction of Federal Judge Hiram R. Cancio as FBA Life Fellow

The Firm congratulates Néstor M. Méndez Gómez, a Life Fellow of the Federal Bar Association Foundation, for his contribution to the Historical Portraits Project undertaken by the U.S. District Court for the District of Puerto Rico. Néstor helped to organize a July 10, 2008 ceremony to unveil three portraits of former judges of the Court, including that of its first Article III Judge, Hiram R. Cancio and was the spokesperson during the induction of Judge Cancio as a Life Fellow at the event.

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PMA Represents Local Developer in the Financing of the New St. Regis Bahía Beach Resort

A team of PMA attorneys, led by Ignacio Alvarez, Antonio Santos and Antonio Molina represented Bahía Beach CH Development, LLC in the successful closing in June 2008, of a $119 million financing for the construction of the St. Regis Bahía Beach Resort, Puerto Rico’s first five star hotel. PMA has been assisting this client in the overall development of the 600 acre Bahía Beach Resort since its commencement.

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PMA Continues Active in M&A Transactions

PMA recently represented the purchaser in the acquisition of substantially all the assets of Puerto Rico’s largest coffee enterprise, Yaucono, which closed in June 2008. PMA also acted as the lead counsel to the seller in the sale of Borschow Hospital & Medical Supplies, Inc. to a subsidiary of Cardinal Health, Inc., which closed in August 2008.

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