Open Source Content Management

On September 8, the Ministry of Finance delivered the economic package for Fiscal Year 2023 to the Chamber of Deputies. The package contains the Proposed Federal Expenditure Budget for 2023, and the Draft for its Decree, as well as the Bills for the Federal Revenue Act for Fiscal Year 2023, the Draft for the Decree of the Federal Fees Act, and the Draft for the Decree Adding Various Provisions to the Federal Budget and Fiscal Responsibility Act (“Economic Package”).

In May 2000, the Mexican Bankruptcy Law [Ley de Concursos Mercantiles] was enacted. This Law created a new legal regime to deal with the insolvency of traders – individuals and corporations – in Mexico, and allows for restructuring in an organized, informed and more agile manner compared to the old system. The Law also provides that, in the event that the restructuring is not achieved, it is possible to close the company by means of a procedure that allows obtaining the highest value of the company or its assets.

Last Tuesday, August 23, 2022, a decree (the “Decree”), issued by the Ministry of Energy (“SENER”) creating the new Decentralized Public Body called “Lithium for Mexico” (“LitioMx”) was published in the Federal Official Gazette, which will have the authority to perform activities of exploration, exploitation, profiting and utilization of lithium in our country, as well as the administration and control of the value chain of such mineral.

The Draft Official Mexican Standard on Home Office was published in the Federal Official Gazette on July 15, 2022, which contemplates the safety and health conditions for home office and establishes a period of 60 calendar days for interested parties to submit comments and suggestions to the National Advisory Committee for Standardization of Work Safety and Health and to make any changes and additions necessary to publish the final version.

The General Resolution issued by the Water Commission (“CONAGUA”), to initiate a state of emergency due to severe, extreme or exceptional droughts in water basins for the year 2022, entered into force on July 13, 2022 (“2022 Drought Resolution”).

Today the Decree modifying the entrance into force of the labor justice, union freedom and collective bargaining reform of 2019 in the last states of the country was published in the Official Gazette of the Federation.

In recent years, countries such as Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, and Peru, have revamped their anti-corruption laws to facilitate corporations’ prosecution and establish requirements or mitigation credit for companies’ anti-corruption compliance programs. Under Mexican law, when determining a corporation’s liability, law enforcement authorities must evaluate, among other aspects, the existence of proper controls within the company, such as adequate investigative methods. This has triggered a new form of corporate awareness in Mexico. Some companies are facing consequences for failing to comply with anti-corruption laws, specifically with the legal requirements, guidelines, and best practices to create and implement compliance programs.