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October 2009 The Squire Sanders Legal Counsel Worldwide Network is in more Russian-Venezuelan Intergovernmental countries in Latin America than any major law firm. Agreement on Encouragement and Mutual Protection of Capital Investments Ratified by As outside investment in Latin America Russia grows and businesses in the region expand their participation in the global economy, the Squire Sanders Legal The Russian-Venezuelan intergovernmental agreement on the Counsel Worldwide Network is uniquely encouragement and mutual protection of capital investments, positioned to respond to client needs signed in Caracas on November 7, 2008, has been ratified by for high-caliber legal counsel, not only Russia pursuant to Federal Law No. 221-FZ, "On Ratification of across Latin America and the the Agreement by and Between the Government of the Russian Caribbean but throughout the world. Federation and the Government of the Bolivarian Republic of Venezuela on the Encouragement and Mutual Protection of Capital Contacts: Investments," dated September 27, 2009. Venezuela The agreement allows for the admission of capital investments by Squire, Sanders & Dempsey S.C. investors from Venezuela or Russia into the jurisdiction of the Hernando Diaz-Candia other party. In this respect, investors shall be given fair and +58.212.953.4006 equitable treatment with respect to the possession, use and disposal of such investments. Argentina Estudio Bunge – Bunge, Smith & The agreement provides that investment disputes may be settled Luchía Puig – Abogados through UNCITRAL ad-hoc arbitration or before the Arbitration Diego Cesar Bunge +54.11.5281.6000 Institute of the Stockholm Chamber of Commerce.
Bolivia The official text of the bilateral investment treaty (BIT), approved Guevara & Gutiérrez S.C. by Venezuela in June 2009, is now available in Spanish: Ramiro Guevara +591.2.2770808 z Summary Brazil z Decree & Article 1 Derraik Advogados in Association With z Articles 2-9 Squire, Sanders & Dempsey L.L.P. z Articles 10-12 Timothy J. Smith +55.21.2271.3300 The next step will be the reciprocal notices, after which the BIT will come into force. Chile Toro & Cia. Abogados
Raúl Toro For more information on the agreement, please contact Hernando +56.2.445.74.04 Diaz-Candia, +58.212.953.4006 from Squire, Sanders & Dempsey S.C. in Caracas or Ivan A. Trifonov, +7.495.258.5250 from our Colombia Moscow office. Muñoz Tamayo & Asociados Diego Muñoz Tamayo The contents of this newsletter are not intended to serve as legal advice related to +571.2100666 individual situations or as legal opinions concerning such situations. Counsel should be consulted for legal planning and advice. Dominican Republic Squire, Sanders & Dempsey ©Squire Sanders Legal Counsel Worldwide Network All Rights Reserved Peña Prieto Gamundi 2009 Alejandro Peña-Prieto +1.809.472.4900
Panamá Fabrega, Molino & Mulino Jose Agustin Preciado +507.301.6600
Peru Rebaza, Alcázar & De Las Casas Abogados Financieros Alberto Rebaza +511.442.5100
Russia Squire, Sanders & Dempsey (Moscow) LLC Ivan A. Trifonov +7.495.258.5250
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