Every day, thousands of multinational companies rely on powers of attorney to conduct the day-to-day administration of their Mexican businesses. A company’s ability to initiate and defend itself in litigation, pay taxes or issue checks are but some of the functions Mexican proxies (or poderes) facilitate. However, the failure to scrutinize powers granted and to monitor proxy-holders themselves may leave a company susceptible to abuse.
American, and particularly Texas-based, in-house counsel increasingly are tasked with the issuance, administration and revocation of international powers of attorney. As such, these in-house lawyers must understand the strengths and limitations of these crucial proxies.
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