Category: News

Mexican member firm Mijares, Angoitia, Cortés y Fuentes announced the appointment of two new partners, effective as of July 1st, 2022. Luis Antonio Monroy and Rodrigo del Valle have been elected as partners in the Tax and Labor practices, respectively. As a result, the firm will be made up of 23 partners, four counsel and 117 professionals.

“We are delighted to invite Luis and Rodrigo to this new juncture in their professional careers. Throughout the years both have shown to have the knowledge, integrity and work ethics that represent the kind of professionals we are looking for. These appointments not only reflect our culture of rewarding and promoting talent, and encouraging our associates to achieve their goals, but they also reflect our commitment to growing our teams in line with our clients’ needs, to ensure the highest standards of quality and provide integral services”, said Pablo Mijares, one of the Firm’s founding partners.

Luis Antonio Monroy joined the Firm in 2004 and focuses on providing tax advice to national and multinational companies. Luis is constantly involved in M&A transactions, financings, capital markets and corporate reorganizations. Likewise, he has advised clients from various industries in connection with the application of conventions for the avoidance of double taxation and has represented them in regulatory matters vis-à-vis the Mexican tax authorities at the federal, state and local levels. More recently, he regularly advises clients regarding the application of the amendments to labor and tax laws relative to outsourcing.

Luis Antonio obtained a Public Accounting degree from the Instituto Tecnológico Autónomo de México and completed a Master of Advanced Studies in International Tax Law at the International Tax Center Leiden – Leiden University, in Leiden, the Netherlands. He also worked as an associate in Alvarez & Marsal’s Houston office. He has authored and co-authored various articles which have been published in domestic and international specialized tax publications and is an active member of the International Fiscal Association (IFA) Chapter Mexico.

Rodrigo del Valle joined the Firm in 2016 and focuses on providing advice on a wide range of labor issues. He has represented and advised Mexican and foreign companies in corporate transactions, including mergers and acquisitions, project finance and corporate reorganizations. He has actively participated in the design and implementation of compensation structures for high-level executives, preventive strategies, collective dispute resolutions and employee transfer processes, among others.

Rodrigo obtained his law degree from the Universidad Iberoamericana. Rodrigo provides advice on a number of labor law matters to clients across a wide spectrum of industries, including Mexico’s largest construction companies, North American and European financial institutions, energy companies and investment funds. He has been actively involved in providing advice on the implementation of the recent labor and tax laws relative to outsourcing.

Affinitas member firm Mijares Angoitia Cortés y Fuentes represented Grupo Televisa in the negotiation of several agreements with Live Nation Entertainment to move forward with the previously announced acquisition by Live Nation of Televisa’s unconsolidated 40% equity participation in OCESA Entretenimiento (OCESA), for USD 261,96m.

OCESA owns Ticketmaster México, OCESA Seitrack (specialized in artist management and booking), ICREA (corporate events) and Centro Citibanamex (dedicated to exhibitions and conventions).

This transaction was highlighted as “Deal of the Year” in the 2021 edition of the Mexico Annual Report issued by Transactional Track Record (TTR).

The team that advised Grupo Televisa was composed of partners Carlos Orcí, Francisco Fuentes, Francisco Glennie and Ricardo Maldonado, as well as trainee Iván Serralde.

Mexican member firm Mijares, Angoitia, Cortés y Fuentes represented the Federación Mexicana de Fútbol Asociación, AC (FMF) and various soccer clubs in the investigation and proceeding instituted by the Comisión Federal de Competencia Económica (“COFECE”) in the market for the signing of professional soccer players, which dealt with no-poach agreements between competitors.

In June 2018, COFECE initiated ex officio an investigation (the “Investigation”) in the aforementioned market, with a view to investigate the practice known in the media as the “Pacto de Caballeros” consisting of an agreement between Liga MX Clubs that may have restricted the mobility of professional players without a non-contract according to COFECE. These types of practices are commonly known as no-poach agreements and constitute an absolute monopolistic practice in terms of the Federal Economic Competition Law (“FECL”).

In September 2021, COFECE issued a resolution in which it determined the liability of 17 Clubs of Liga MX for carrying out the practice, and the participation of the FMF and some individuals as coadjutants in the practice and imposed a total fine of MXP$177.6 million. After the resolution, the FMF and the sanctioned Clubs paid the fines imposed, in order to terminate the procedure, without challenging the Resolution.

The investigation is the first case initiated by COFECE in labor markets and is a clear example of the relevance that such markets are gaining in the competition policy of the competition authorities at an international level. Since several years ago, competition authorities have expressed their interest in investigating that labor markets operate under competitive conditions, and that employers (in their role as demanders of labor services) do not engage in conduct that implies coordination: (i) to fix labor benefits (e.g. wages or some benefit granted as a labor incentive); and/or (ii) to restrict workers’ mobility (with the consequent depression of wages).

The Investigation sets a precedent of the importance of economic competition law in the labor area, and a message to make companies aware that the LFCE is also applicable in the labor area of the companies and therefore of the importance of training their human resources areas.

The team that represented FMF was composed of partners Francisco Fuente and Carlos Orcí, as well as associate Patricio Rivas.