MEXICO LAW AND PRACTICE Contributed by: Fernando Carreño, Sergio López, Michel Llorens, Andoni Garza and María García, Von Wobeser y Sierra
8.3 Ability of Third Parties to Appeal Clearance Decisions It is not clear whether a third party can appeal a clearance decision. This has never been done and the applicable law does not grant third par - ties the right to challenge clearance decisions if they were not involved. However, if a third party can argue and evidence its legal interest before the specialised courts pursuant to the required standards, the appeal might be admitted.
business secrets are completely redacted in the public versions of the decisions, and part of the description of the transaction can also be redacted if the parties involved justify why such parts should be classified as confidential. 7.4 Co-Operation With Other Jurisdictions In specific cases where the transaction involves a complex antitrust assessment that requires the clearance of competition agencies in sev - eral countries, the latter might co-operate with each other. In Mexico the Authority must request a waiver from the parties in order to disclose the information contained within the file to foreign competition agencies. It is more common for the Authority to request such a waiver when rem - edies are being offered or negotiated. 8. Appeals and Judicial Review 8.1 Access to Appeal and Judicial Review The decision can only be appealed when it is final and this is done before courts that special - ise in antitrust, telecommunications and broad - casting cases (“specialised courts”). The appeal is carried out by means of a constitutional appeal called juicio de amparo indirecto . 8.2 Typical Timeline for Appeals The typical timeline for appeals ranges from one to three years (depending on whether the ini - tial decision of the courts is challenged by the parties). In the past ten years, no appeal has succeeded in overruling the main decision by the Authority on a merger – although there is a precedent where the parties appealed one of the remedies imposed by the Authority and the specialised courts eliminated this remedy.
9. Foreign Direct Investment/ Subsidies Review
9.1 Legislation and Filing Requirements The authors are not aware of any legislation or regulatory provisions in respect of foreign subsidies. However, Mexico has foreign direct investment regulations that are contemplated in the Foreign Investment Law ( Ley de Inversión Extranjera , or LIE), as well as mechanisms to compensate the effects of foreign subsidies in terms of foreign trade. The LIE establishes certain thresholds for the notification of foreign direct investment in Mex - ico. These thresholds are based on the value of the assets of the company being invested in and the type of commercial activity it carries out. The National Foreign Investments Commis - sion ( Comisión Nacional de Inversiones Extran- jeras , or CNIE) must approve the investment in advance if the following thresholds are met: • direct or indirect investments of more than 49% interest in the capital stock of a Mexican entity with assets valued at more than MXN26,978,252,017 (approximately USD1,378,635,992) (please note that this authorisation is only required when it is the
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