HONDURAS AND SECURED TRANSACTIONS

The National Law Center for Inter-American Free Trade (NLCIFT) continues its long-term project, sponsored by the Millennium Challenge Account – Honduras, to work with Honduran officials and businesses to develop and implement a modern secured lending law, registry of security interests and lending practices.

Assessments in Honduras by NLCIFT attorneys and expert consultants went forward in November.  One team consisted of NLCIFT research attorney Marek Dubovec and registry expert Thomas M. Ose, who has led teams designing software/hardware solutions for business needs and for public record filing and searching.  The team assessed next steps needed for an adequate registry capable of recording security interests in personal property.  Another team consisted of Certified Public Accountants (CPAs) Boris Rosen and George Gulisano from the respected Florida CPA firm Mallah Furman and NLCIFT Board Member, Dale Beck Furnish, Esq. 

This second team, in two trips, first diagnosed current business and accounting practices of potential borrowers and then offered recommendations, including standardized financial and accounting statements, to smooth implementation and maximize the number of micro-, small- and medium-sized business able to credit under the proposed new laws.


 


(L. to R. during an August visit by ranking Honduran officials). Honduran Congressman Donaldo Reyes, Arizona Secretary of State Jan Brewer (soon to be Gov. Brewer, upon the departure of Gov. Napolitano to head the U.S. Department of Homeland Security), and Honduran Supreme Court Judge Daysi Rodríguez.


Article published in the bulletin "Novedades" of the NLCIFT, Arizona, USA.

 

 

 

 

 

 

 



 


 


 


2009. Millenium Challenge Account. Tegucigalpa, Honduras.

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