In a scenario of uncertainty, mergers and acquisitions (M&A) activity in distressed assets stands out in 2024. However, sandbagging clauses in M&A, despite being admitted by Brazilian law, require caution and consideration of good faith, in... Read more
Extra level of care is mandatory in legal due diligence processes involving entities within the infrastructure of the Brazilian capital market Read more
The use of sandbagging clauses in M&A transactions must be assessed with care when the relevant agreement is governed by Brazilian law Read more
Modernization of the Brazilian insolvency legislation is imminent and is likely to boost “DIP Financing” in Brazil. Legislators have the chance to fulfill the purpose of widening possibilities for corporate recovery alongside with evolving local... Read more
Recent changes on rules governing Brazilian Depositary Receipts (BDRs) have facilitated the access to the Brazilian capital market. These changes come at the very moment when the market encourages investments abroad Read more
Thomson Reuters Practical Law Read more
A new law brings Brazil into line with international standards for investment funds as it limits liability for investors and service providers and separates assets into different classes of shares. Cost reduction and foster interest in the industry... Read more
New laws and precedents are reducing the risk for shareholders to be held liable for companies’ labor debts. However, most labor case laws still apply rules focusing on the vulnerability of employees and thus increasing investors liability.... Read more
Recent legal changes have created new investment possibilities in infrastructure and even better prospects for private equity in the country. As for outbound investments, time has come for foreign securities to be offered in Brazil, and foreign... Read more
Recent changes in legislation are making private equity and venture capital industry even more attractive in Brazil. Among them, the possibility of investment funds to be organized with limited liability. This and other changes are likely to... Read more
There is an increasing interest by Brazilians in opportunities to invest abroad. Issuers willing to enter this market must overcome regulatory challenges related to marketing and distributing foreign securities in the country. Read more
The Brazilian Securities Commission plans to allow foreign securities advisors to provide services to Brazilian investors. Changes should benefit domestic investors and generate opportunities for foreign operators. Read more
In a Q&A article which is part of the Practical Law - Thomson Reuters global guide to structured finance and securitisation, partner Luiz Roberto de Assis and senior associate Fernando de Azevedo Peraçoli provide an overview of the Brazilian... Read more
The hotel and the real estate markets usually offer to the public the opportunity of investment in hotel enterprises structured as condo-hotels. The way such investments are designed does not represent simply the sale of hotel real estate units,... Read more
Spotify’s public listing on the NYSE drew the attention of both Wall Street and Silicon Valley. The company adopted an unusual strategy: listing its shares without raising new money. In this “direct listing” process, Spotify saved tens of millions... Read more
Artigos | JOTA Read more
Artigos | JOTA Read more
This article appeared in the 2016 edition of The International Comparative Legal Guide to: Securitisation, published by Global Legal Group Ltd, London Read more
Coluna do Levy & Salomão | Jota | March Read more
On June 11th, the Brazilian Securities Commission postponed the new investment fund regulation’s effective date, from July 1st, 2015 to October 1st. Issued on December, 2014, Normative Ruling No. 554 establishes new criteria defining qualified... Read more
This article appeared in the 2015 edition of The International Comparative Legal Guide to: Securitisation, published by Global Legal Group Ltd, London Read more
The structuring of international agreements is a challenge for businessmen and attorneys due to the potential invalidity of clauses under a particular domestic legal system. Said agreements usually contain choice of law and forum selection clauses,... Read more
There is uncertainty as to the exact requirements to be met for the validity of foreign language documents in Brazil. Requirements vary depending on the type of document, the purpose of its use and the country of its origin Read more
Provisional Measure No. 651, of July 9, 2014, has brought about a number of changes to the taxation levied on investments in the financial and capital markets. In this article, we highlight some of them, such as new taxation levied on the indexed... Read more
This article appeared in the 2014 edition of The International Comparative Legal Guide to: Securitisation, published by Global Legal Group Ltd, London Read more
O Estado de S.Paulo | Economia & Negócios Read more
This article appeared in the 2013 edition of The International Comparative Legal Guide to: Securitisation, published by Global Legal Group Ltd, London Read more
This article appeared in the 2012 edition of The International Comparative Legal Guide to: Securitisation, published by Global Legal Group Ltd, London Read more
Brazilian Law 12.431 of June 24, 2011 has reduced the Income Tax rate on long-term infrastructure bonds to zero for individuals and to 15% for corporations, for bonds supporting priority projects. Pursuant to the law, Brazil’s Federal Government... Read more
CVM Rule No. 509 of November 16, 2011 lengthens the time that a company may use the same independent auditor to 10 years, provided that the company has created a Statutory Audit Committee (CAE) Read more
A brief analysis of some of the more important provisions found in "MP 517", which was published on December 31, 2010, and seeks to create a market for long-term private financing Read more