Panama has experienced unprecedented growth, attracting large number of companies to establish themselves in our territory. With new businesses and consumers relocating to Panama, the need to protect competition and consumers grew substantially.
Panama’s National Assembly enacted the country’s first antitrust law in 1996 and in 2007 that body of law was reformed by Law 45, also known as the Consumer Protection Law.
This legislation prohibits unfair trade practices and monopolistic. These rules are designed to promote competition, protect the interests of consumers and to prohibit practices that threaten free competition and free.
Law 45 protects consumer rights prohibiting unfair terms in contracts. AFRA has a team of lawyers who assist in the review, preparation and drafting of contracts and provide legal assistance accompanying economic agents and consumers to the appropriate authorities, reconciliation processes and the courts to defend their rights.
Alfredo Ramirez Jr. and Marissa Lasso de la Vega F participated in the development and regulation of the rules of free competition and consumer protection, so are in a position to advise clients on the nuances of such laws and represent them in administrative proceedings before the Authorities of Antirust and Consumer Protection and in judicial proceedings before specialized courts.
AFRA has provided legal advice in cases antitrust and consumer protection, representing clients in various industries, including retail, manufacturing, paper and textiles, banking and insurance. We have also advised local and international companies in the purchase of assets, preliminary checks including administrative investigations for alleged monopolistic practices, mergers, litigation including class action lawsuits.