Amb. Antonio Garza

PUERTO RICO SUPREME COURT CLARIFIES FINANACIAL STATEMENT REQUIREMENTS FOR GOVERNMENT BIDS On July 24, 2024, the Puerto Rico Supreme Court (“PRSC”) decided Transporte Sonnell, LLC v. Junta de Subastas de la Autoridad de Carreteras y Transportación de Puerto Rico y otro, 2024 TSPR 82, in which the PRSC had the opportunity to decide whether the Puerto Rico Highways and Transportation Authority (“ACT”) appropriately awarded the contract to a company that submitted financial reports and statements from a parent entity to demonstrate its own financial capacity in a Request for Proposals (“RFP”) specification. On April 12, 2022, ACT published and RFP seeking proposals to operate and maintain 8 bus routes complementing the Urban Train system. For financial capability, bidders had to submit audited financial statements for the past 3 fiscal years prepared according to Generally Accepted Accounting Principles (GAAP). Two companies submitted proposals: First Transit Puerto Rico, Inc. (First Transit PR) and Transporte Sonnell, LLC. First Transit PR's proposal stated it was a wholly-owned subsidiary of First Transit, Inc., which was ultimately owned by Recess HoldCo, LLC. It submitted financial statements for Recess HoldCo prepared using International Financial Reporting Standards (IFRS), not GAAP. Transporte Sonnell submitted its own GAAP-compliant financial statements. After the request and evaluation of interim statements, on May 17, 2023, the Bid Board recommended awarding the contract to First Transit PR, which had offered the lowest price. Transporte Sonnell appealed the decision, arguing First Transit PR failed to demonstrate financial capacity by submitting statements from a different entity not prepared under GAAP, did not properly notarize a required corporate resolution, and submitted information for multiple companies not registered to do business in Puerto Rico. The Court of Appeals upheld the contract award. Transporte Sonnell appealed to the PRSC. The PRSC agreed with Transporte Sonnell as follows: - An analysis of the record before the PRSC showed that while First Transit PR was the entity that signed the Proposer Registration Form to participate in the, the company that submitted the proposal on its behalf was its parent entity, First Transit. Considering and evaluating the financial reports of a parent entity when, in reality, it was its subsidiary seeking to obtain the auctioned agreement, seemed to be an erroneous action by ACT. - Although it is true that the RFP allowed a bidder to participate as a consortium, for this, it was necessary for the bidder to submit certain information to prove that their participation would be under that modality. - The PRSC concluded that the Evaluation Committee could not consider information from other entities to prove its financial capacity. #Corporate&TaxLawyers

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Arias served as local counsel in the financing and refinancing of the merger between Ransa and Transportes Centroamericanos del Futuro (TCF), consolidating Grupo Ransa's position in the Latin American logistics industry. #finance #logistics #transport #merger #industry #latinamerica

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🔹 45th Public Meeting of the Puerto Rico Fiscal Oversight and Management Board (FOMB) 🔹 At its recent meeting, FOMB discussed concerns on: 🕑 Delays in grid reconstruction. 📉 Progress not meeting public expectations. 🚫 FOMB Executive Director calls pace "unacceptable." 🛠️ Board to actively remove roadblocks for federal fund use ⚡️. 🌞 Focus on promoting net metering for energy transformation. 🌱 Supporting Puerto Rico’s renewable energy goals. Let me know in the comments what do you think is the role the FOMB must take to facilitate the quicker grid reconstruction and reach the islands renewable energy goals. #PuertoRico #Energy #FOMB #RenewableEnergy #NetMetering #Sustainability

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🚀 Exciting News for Mexico's Future! This morning, President Claudia Sheinbaum, alongside Secretary of Economy, Marcelo Ebrard and Special Advisor, Altagracia Gómez Sierra, announced the creation of the Advisory Council for Regional Economic Development and Relocation (#CADERR). I’m incredibly honored and proud to share that the American Chamber of Commerce of Mexico has been invited to join this presidential advisory and working council. Our mission is ambitious and clear: ✅ Attract new investment projects to Mexico. ✅ Foster the growth of local suppliers. ✅ Drive sustainability initiatives. ✅ Boost international academic exchanges. ✅ Strengthen Mexico’s development bank to increase SME's participation in global trade, among others. This council represents an unprecedented opportunity for the public and private sectors to unite for the country's progress. We'll work daily toward these objectives and report tangible results to the President every two months. At AmCham, we firmly believe that open dialogue and data-driven proposals are the keys to meaningful collaboration. Together, we’re aiming for nothing less than a transformational impact on Mexico's future. Let’s get to work. This is our moonshot. #EconomicDevelopment #Relocation #Collaboration #MexicoLeadership #Nearshoring

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The Chamber of Deputies approved a constitutional reform to prioritize passenger rail services, enabling concessions for public and private companies. To learn more about infrastructure trends in Mexico, do not miss Mexico Business Summit 2024! #MexicoBusinessNews #MexicoInfrastructure

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🌉 Elevating Border Infrastructure Amidst Presidential Elections With the presidential elections in Mexico and the USA coinciding this year, there's a golden opportunity to push border infrastructure to the forefront of our bilateral agenda. As we consider nearshoring as a pivotal strategy for economic resilience, the state of our border facilities plays a crucial role. 🗳️ This election season, let's advocate for enhanced cooperation on border infrastructure between Mexico and the USA. Upgrades in technology, harmonization of customs regulations, and improvements in physical infrastructure will not only streamline the movement of goods but also bolster economic ties and supply chain efficiency. 🔗 The commitment to strengthen our border facilities is essential for businesses considering nearshoring. It promises to reduce operational costs, enhance supply chain reliability, and build a more integrated economic region. 📈 As voters and leaders focus on economic recovery and growth, prioritizing border infrastructure investment is key. This election is the perfect moment to champion policies that support robust, efficient, and secure borders. Let’s use our votes and voices to ensure that nearshoring and border cooperation are top priorities for our next leaders. #Nearshoring #PresidentialElections2024 #USAMexicoPartnership #EconomicDevelopment #SupplyChainInnovation

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I am thankful for this recognition as a former member, Vice President, and President of the Inter-American Juridical Committee of the Organización de los Estados Americanos (OEA) - the oldest and one of the most prestigious international law organs of the Americas. During eight years, I worked intensely, particularly on my reports on #internationalcontracts and #commercialarbitration and the applicable law in #investmentarbitration - both now officially OAS soft law instruments.

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Real-World Impact: Puerto Rico Initiatives 🚀 Our commitment to driving growth and operational excellence extends beyond theoretical frameworks—it’s evident in our on-the-ground projects. As individuals who left Puerto Rico in our 20s and returned in our 30s, we are dedicated to leveraging our expertise to contribute to the island’s economic resurgence. Ongoing and Future Projects and Products 🔥 Digitalizing a Shoe Brand: By creating their e-commerce platform and implementing customer-centric digital strategies, we’re helping a local shoe brand expand its market reach and enhance user engagement. Building E-Commerce for an Ice Cream Franchise: We are developing an e-commerce platform for a beloved ice cream franchise to sell merchandise, expanding their market reach and enhancing customer engagement. Exploring Home Goods Distribution: Our future plans include entering the home goods sector, where we aim to revolutionize distribution strategies by leveraging digital tools and optimizing supply chain processes. Puerto Rico as a Prime Travel Stopover: We are exploring ways to position PR as a prime stopover and travel destination during the World Cup. This strategy will promote Puerto Rico's unique offerings to international visitors, enhancing both tourism and the local economy. Blockchain-Driven Rewards Points Aggregation: Leveraging blockchain technology, we are looking at ways to develop a solution to scrape the internet and aggregate accumulated reward points since the introduction of cell phones and emails. This initiative will provide added value to both customers, by allowing them to consolidate their rewards, and companies, by enhancing customer loyalty and engagement. These initiatives showcase how our tailored product management strategies deliver tangible results, driving both engagement and revenue while improving efficiency. Delivering Measurable Impact Our product management approach is driven by outcomes. We define success not just by the quality of the products we help create, but by the tangible business results they deliver. For our clients, this translates into: Higher User Engagement: Products that meet and exceed customer expectations, fostering long-term loyalty. Revenue Growth: Enhanced monetization strategies and optimized go-to-market plans. Operational Efficiency: Reduced costs and improved team productivity through streamlined processes. Looking Ahead As we continue this work, we are committed to redefining product management as a strategic lever for growth and efficiency. Our goal is to empower organizations to not only meet their immediate needs but to thrive in a competitive, rapidly evolving market. By bringing together visionary leadership, deep industry expertise, and a relentless focus on value creation, we are shaping the future of product management. This is more than a service offering—it’s a partnership that transforms challenges into opportunities, driving success at every level.

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Puerto Rico is a Caribbean Island that borders the Atlantic Ocean to the north and the Caribbean Sea to the south. Puerto Rico’s climate is changing. The Island of Puerto Rico is subject to numerous threats from natural hazards, including hurricanes, landslides, earthquakes, coastal and inland flooding, and freshwater scarcity, among others30. These hazards must be taken into consideration when planning, designing, or constructing projects to prepare, mitigate, and adapt to these risks.  Every project in Puerto Rico must be resilient by considering all natural hazards and to proactively address climate-related risks. Nature-based solutions are sustainable planning, design, environmental management, and engineering practices that weave natural features or processes into the built environment to promote adaptation and resilience. AnyWay Solutions is committed to bringing climate resilient engineering and solutions to Puerto Rico for a sustainable future.

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🚧🌐 Balancing border security and trade is crucial for the prosperity of the U.S.-Mexico relationship. In my latest article, I explore effective strategies that ensure both robust security and seamless trade across our shared border. From leveraging technology and enhancing cooperation to implementing smart policies, it's possible to protect our borders while fostering economic growth. Discover how we can achieve this delicate balance and why it matters for businesses and communities on both sides. Watch my video introduction and read the full article here: https://bit.ly/3zb7ydr #BorderSecurity #Trade #USMexicoRelations #MarcoLopez #EconomicGrowth #Policy #Innovation

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Below you will find the English version of the GT Alert we prepared with a summary of the latest regulations for power storage into the National Power Grid. It is an import milestone for the energy sector in Mexico.

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Federal funds for infrastructure in Puerto Rico reached $127 billion in recent years and many of those resources are focused on reconstruction projects. CoST Puerto Rico works to promote social accountability in the implementation of these funds and above all to ensure that the projects have a positive impact on the lives of citizens. #InfrastructureTransparency #PuetroRico #SocialAccountability

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Discover how a proactive compliance approach can lead to increased growth and stability. "Proactividad ante el Compliance" from edición 2024 de InHouse México.

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I was interviewed by the AFP and appreciated their nuanced article on actions foreign nationals and their families can take prior to second term of the Trump administration. Some #DACA and #TPS recipients may be eligible for lawful permanent residence or have avenues to consular process to secure certain nonimmigrant visas. It is still possible and may be beneficial for many of these recipients to apply for advance parole. Some individuals in removal proceedings may be able to negotiation with DHS in these final weeks of the Biden administration to obtain prosecutorial discretion to terminate proceedings. Those with removal orders may be able to reopen their cases depending on their individual circumstances. Some individuals seeking employment based visas may wish to file for premium processing on pending cases (if eligible) should they wish for a prompter adjudication. Almost all foreign nationals, whether undocumented or with lawful permanent residence, may benefit from better understanding their status with an attorney and carefully plan out next steps whether it be securing naturalization, lawful permanent residence, maintaining status, or understanding their rights in the event of an #ICE arrest. It is critical not to make decisions out of fear and anxiety. Filing poorly prepared cases last minute could have devastating consequences. Taking the time to carefully understand options is the best preparation. Foreign nationals, their families, businesses that employ them, and their attorneys need to be comfortable with the fact that it's unclear what policies will actually be implemented and how much push back will there be from the other branches of government. We can use the time we have right now to put ourselves in the best position possible come January 20th. #immigration #news #deportation #naturalization #permanentresidence

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According to the Inter-American Development Bank (IDB) and reported by Uno TV, Mexico has the greatest growth potential in Latin America and the Caribbean due to nearshoring, with export projections potentially reaching $35.3 billion annually. A Gartner study predicts a 25% increase in jobs from nearshoring strategies in the coming years. Given the growing demand for trained professionals, the article highlighted a UVM study identifying several prominent careers: Industrial and Systems Engineering, Engineering in Innovation, Mathematics Engineering, Computer Systems Engineering, Industrial Mechanical Engineering, and Mechatronics Engineering.

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We share with you a brief memo that addresses some of the most frequently asked questions related to the proposed bill to eliminate several autonomous constitutional agencies in Mexico, including Mexico's current competition agency.

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How will the loss of over 100,000 jobs in the maquiladora industry affect Mexico's competitiveness? The alarming loss of more than 100,000 jobs in the maquiladora industry along Mexico’s northern border is a clear sign of the challenges facing this key sector of the Mexican economy. The combination of global economic uncertainty, the health crisis, and the 25% tariff threats proposed by President-elect Trump could worsen this crisis further. The maquiladora industry, a pillar of manufacturing in Mexico, is facing a critical situation. If high tariffs are imposed, as proposed, Mexican manufacturing companies could see an increase in their operational and logistics costs. This would not only affect businesses but also impact Mexico's competitiveness as a manufacturing hub for the U.S. market. The main effects of imposing a 25% tariff would be: Increased costs and prices: Mexican companies relying on imported inputs would face higher costs, potentially leading to higher prices for products manufactured in Mexico. This price increase would affect both companies and end consumers. Supply chain disruption: The lack of diversification in input sources can make companies more vulnerable to any supply chain disruptions, such as those that might result from these tariffs. Companies that fail to seek alternatives to diversify their suppliers risk facing delays and shortages. Loss of competitiveness and job cuts: Without strategic measures to diversify the supply chain and secure stronger trade agreements, the loss of competitiveness could lead to more layoffs, resulting in greater labor instability in the sector. What measures do you think companies are taking to prepare for this uncertainty? Leave your comments, let's start the conversation.

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Pemex’s declining production, the worst in 47 years, is clearly indicative of the failure of AMLO’s energy counter reform and the completely erratic policies against upstream private stakeholders in Mexico, the incoming administration has no alternative but to urgently demolish these policies #upstream #ruleoflaw #freetrade #gonzalezcalvillo

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