23 Nov 2015 07:00
GRUPO CLARIN S.A.
Court Grants Injunction
On 20 November 2015, Grupo Clarín S.A. (the "Company") informed the Argentine Securities Commission and the Buenos Aires Stock Exchange that it had served notice of an injunction issued in re "Grupo Clarín S.A. and others v. National Government - AFTIC re Autonomous Injunction" File No. 55398/2015, a claim pending before the Federal Court on Administrative Litigation Matters No. 9, Secretariat No. 18, whereby that court suspended the effects of Decree No. 1950/15-under which the Company and Cablevisión S.A. had been denied standing to participate in File No. 3303/06/AFTIC-and of Resolutions Nos. 326 and 325 of the Federal Authority for Information and Communication Technologies ("AFTIC"), dated 24 September 2015.
Attached below is a free translation of the relevant sections of the decision rendered by the Federal Court on Administrative Litigation Matters No. 9.
Enquiries:
In Buenos Aires:
Alfredo Marín/Agustín Medina Manson
Grupo Clarín
Tel: +5411 4309 7215
Email: investors@grupoclarin.com
In London:
Alex Money
Jasford IR
Tel: +44 20 3289 5300
Email: alexm@jasford.com
In New York:
Melanie Carpenter
I-advize Corporate Communications
Tel: +1 212 406 3692
Email: clarin@i-advize.com
FREE TRANSLATION
National Judicial Branch
Federal Court on Administrative Litigation Matters No. 9
55398/2015
GRUPO CLARÍN S.A. AND OTHERS V. NATIONAL GOVERNMENT - AFTIC RE/AUTONOMOUS INJUNCTION
Buenos Aires, [date blank] 2015
Having Reviewed:
I.- That on p. 1/51, the companies Nextel Communications Argentina SRL, Grupo Clarín SA and Cablevisión SA appear [before this court] and request the issuance of an autonomous injunction […] in order to obtain the suspension of the effects of Decree No. 1950/15, dated as of 21/9/15 and of Resolutions No. 325 and 326 of the Federal Authority for Information and Communication Technologies (AFTIC), dated as of 24/9/15, and consequently, that they be given effective participation in the administrative proceeding, assuring them the exercise of their right to effective administrative and judicial protection (Articles 18, 75 subsection 22 of the National Constitution; and articles 8, 25 and related articles of the American Convention on Human Rights).
In addition, they request that the Federal Authority for Information and Communication Technologies (AFTIC) be ordered to abstain from issuing any other act or administrative pronouncement under Files Nos. 8067/94, 1385/00, 5436/01, 5434/01, 5435/01, 5440/01, 5441/01, 5426/01, 5424/01, 5419/01, 3650/00, 5900/98, 5422/01, 5428/01, 10082/98, 5432/01, 5442/01, 5433/01, 3603/15 and/or any other file relating to the rights and interests of Nextel, Grupo Clarín or Cablevisión arising from the transaction that will be referred to in the following paragraphs, in which the will of the managing body of said entity may be formed with the will of Messrs. Norberto Carlos Berner, Nicolás Ernesto Karavaski and Federico Bekerman; that they also abstain from issuing any act or pronouncement that may invalidate, restrict, limit or condition the effects of the acquisition by Grupo Clarín SA and Cablevisión SA of 49% of the capital stock of Nextel Communications Argentina SRL and or the option to acquire the remaining 51%; that they do not alter the current legal status or adopt any decision that may affect the licenses owned by the last of the companies mentioned above, or issue any acts or decisions that may affect, alter or restrict the rights arising from such licenses, without the prior and effective intervention of all the claimant parties hereunder; that they abstain from issuing any act that entails [claimant's] exclusion from the administrative proceedings brought before AFTIC or that may be brought in the future and that may involve the company Nextel and its corresponding license; that they abstain from issuing any act without the quorum and majorities provided under Law No. 27,078, suspending in that respect the application of the internal rules issued by that agency in breach of said law; and, in the event that any of the abovementioned decisions, pronouncements or acts may have been issued, that their effects be suspended, restoring the situation to the status preceding their issuance.
[Recitals intentionally omitted]
VI.- In light of the above, I believe that prima facie -within the cognitive framework of this type of procedure, and of the instruments that were filed in this dispute-the requirements to authorize the suspension of the effects of the regulations invoked have been fulfilled.
[Recitals intentionally omitted]
IX.- However, with respect to the requested injunction relating to defendant's abstention from issuing any pronouncements in which the will of the managing body of said entity may be formed with the will of Messrs. Norberto Carlos Berner, Nicolás Ernesto Karavaski and Federico Bekerman; that they also abstain from issuing any act or pronouncement that may invalidate, restrict, limit or condition the effects of the acquisition by Grupo Clarín SA and Cablevisión SA of 49% of the capital stock of Nextel Communications Argentina SRL and or the option to acquire the remaining 51%; and that they abstain from issuing any act without the quorum and majorities provided under Law No. 27,078, suspending in that respect the application of the internal rules issued by that agency in breach of said law; we note that to admit such a request would entail going into the analysis of matters that exceed the framework of the requested injunctions, and would cause, both in the orbit of the interests that claimants seek to protect and those of the defendant, the same consequences as if the claim itself was to be admitted; a case that, as decided by the National Supreme Court, must be dismissed as an injunction, given that the purpose of such decisions is to ensure the fulfilment of an eventual decision, but not to anticipate the achievement of the final purpose of the claim […].
[Recitals intentionally omitted]
In light of the above […] I deem it prudent to set as limit to the effectiveness of the injunctions granted hereunder, a term of six months.
XII.- Finally, with respect to the guaranty that must be imposed […]
[…] taking into account the factual circumstances presented in this decision and the nature of the matter at hand, I deem it conducive to set a real guaranty of one million pesos (Ps. 1,000,000), which must be made effective by means of a cash deposit with Banco de la Nación Argentina, in securities, bonds, or insurance-in each case-to the name of this Court and this file.
Therefore, in light of the above,
I DECIDE:
I. To accept partially the injunctions requested by the companies Nextel Communications Argentina SRL, Grupo Clarín SA and Cablevisión SA, as set forth in the preceding recitals.
Let this decision be registered, notified, and once the guaranty ordered hereunder has been posted, let this decision be communicated to defendants with the customary notice.
PABLO G. CAYSSIALS
Federal Judge