Successful IDB multinational financing and construction deal advised by our law firm.
Our law firm has recently acted as legal counsel to an Argentine leading regional packaging conglomerate, in the construction and long-term financing of a new corrugated cardboard packaging manufacturing facility in the Province of Buenos Aires. The project was financed by Inter-American Investment Corporation and other foreign bank acting as Participant through a senior secured loan of up to US$60 million, comprising the usual security arrangements and different tranches to finance the capital investments required for the development of the above-mentioned facility, which included civil works and acquisition of cutting-edge industrial equipment.
CNV expands regulations on virtual assets service providers.
On May 2000, in accordance with the GAFI / FATF recommendations, law 25,246 created the UIF and incorporated new types of money laundering crimes. On March 2024, law 27,739 amended law 25,246, introducing certain definitions, such as virtual assets (VA) and virtual assets service providers (VASP) and CNV resolution 994/2024 created the VASP Registry. Although the definition of VA under law 25,246, as amended, was rather broad, by that time, the CNV indicated, through a public announcement, that such regulation would apply to crypto assets. The CNV is the agency in charge of regulating the issuance and trading of securities and other instruments. On March 2025, CNV resolution 1058/2025 expanded the regulations regarding VA and VASP as initially set forth under CNV resolution 994/2024.
New special RIGI Benefits for VPU suppliers.
VPUs are the companies which have qualified for the RIGI benefits established under law 27,742. RIGI stands for “Incentive Regime for Large Investments”. VPU suppliers will only enjoy the benefits under section 190 of law 27,742: the imports of goods to be supplied to VPUs or to be used to provide services to VPUs shall be free from custom duties and levies and withholding regimes related to federal or local taxes. In case the supplier imports the goods to provide services to a VPU, the benefit applies only to the import of the capital goods and the computing and telecommunications goods identified as such, with the acronyms “BK” and “BIT”, in annex I of Decree 557/23.