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Posts Tagged ‘mexico class action’

Kevin LaCroix, whose blog The D&O Diary is a premier source for the latest trends in securities-related class action litigation, has an excellent post out today discussing two key developments in an area that is very close to my heart, international class action litigation.  The first part of LaCroix’s post discusses a recent publication from Asia-based International law firm King & Wood Mallesons discussing class action filings in Australia.  According to the report, there are currently only about 14 class action filings filed on average in the Australian federal court, a number that represents less than 1% of all federal filings in that country (this figure does not include filings in the courts of individual states; both Victoria and New South Wales also have civil procedure rules similar to the federal rules).

The second part of the post addresses the potential implications of the recent enactment of a class action law in Mexico.  LaCroix summarizes a recent Jones Day publication on the subject, then adds his own commentary.  In particular, he makes an observation similar to one that international plaintiffs’ class action lawyers Michael Hausfeld and Brian Ratner make in the forthcoming book World Class Actions: that one of the potential implications of the US Supreme Court’s 2010 decision in Morrison v. National Australia Bank, which limited f-cubed securities class actions in the United States, may be an increase in litigation in foreign jurisdictions that allow for securities class actions or some other form of collective redress.

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According to this December 9, 2010 Bloomberg article from Adriana Lopez Caraveo and Jens Erik Gould, the Mexican Senate has passed a bill that would introduce a form of class action litigation to Mexico.  According to the article:

The bill, which now moves to the lower house, would allow Mexicans to bring class action suits against companies that provide consumer goods and services, financial services or that cause environmental damage, according to the bill. Mexican law doesn’t currently allow for such lawsuits.

For more on the bill, see this December 10 article in The News from Víctor Mayén, which characterizes the bill as authorizing collective actions

regarding the consumption of private or public goods and services, environmental services and financial services that harm the consumer, due to monopolistic or other undue practices.

Neither article assesses the odds of the bill’s passage in the lower house, although the unanimous passage in the Senate would appear to suggest that the chances are good.

The legislation follows an amendment to article 17 of the Mexican constitution, passed in June, granting authority to the legislature to pass legislation regulating class or collective actions.  For more on the amendment, see this entry posted in June at the Stanford University global class actions clearinghouse.

Despite a (somewhat) diligent Internet search, I have not been able to locate an English translation of the Bill, so unfortunately I can’t report on any of the details of the legislation.  This August 2008 report from emii.com hinted that the legislation being considered in Mexico at the time was following a more “Latin American” pattern, as distinguished from US-style class action procedure.

If any readers have more information about this bill, we welcome your comments.

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