The enactment of Law 25.156 and its regulatory decrees in September 1999 introduced
anti trust rules that did not exist earlier in the decade, when
most of the M&A transactions took place in Argentina. The new
regulations are applicable to multinational transactions, which
now are required to coordinate notice procedures and registration
in different jurisdictions, extending notification requirements
to the relevant foreign jurisdictions.
The new legislation mainly deals with:
(a) Anti trust: by establishing a system of control of the merger and the acquisition
of business organizations, these laws are intended to prevent monopoly
practices that restrain free competition or allow abuse from dominant positions.
(b) Unfair competition: by attacking incorrect or irregular trade practices that limit free competition in the market.
The Anti Trust Law provides for its own enforceability by creating the Court of
Protection of Fair Market Competition.
The Court of Protection of Fair Market Competition investigates the planned transactions.
The course of this investigation should be closely followed, furnishing
all the documents and information needed in order to obtain the
Courts final approval. This task involves a careful analysis
of the markets involved in the transactions, since the interested
parties will have to defend and support their positions when confronted
to the governing laws.
As a result of these provisions, companies undergoing reorganization processes
of merger, acquisition or the like, should receive adequate advice
as to the laws applicable to their cases.
Vitale Manoff & Feilbogen offers its clients the advantage that members of
the Firm took part in the very making of the Anti Trust Law and
cooperated in its implementation. The Firm can thus provide the
best possible advice in this field.