The financial constraints caused by the coronavirus has affected the world’s economy and its outlook is still unknown and gloomy. Companies from all industries worldwide have been taking all sorts of measures to mitigate losses, preserve cash flow and, ultimately, survive. Just like other companies around the globe, the coronavirus has pushed many struggling Brazilian … Continue Reading
Since the declaration of the state of public calamity on March 20, the Brazilian Government has taken several measures to contain the fast spread of the novel coronavirus and to ease the negative impacts of the novel coronavirus outbreak on the domestic economy. The most anticipated measure is the stimulus aid package, which has yet … Continue Reading
On December 2, President Donald Trump announced Section 232 tariff exemptions previously granted to Argentina and Brazil would terminate “effective immediately.” In his December 2 tweet, President Trump criticized the two countries for “presiding over a massive devaluation of their currencies, which is not good for [U.S.] farmers.” The U.S. reached agreements with Brazil and … Continue Reading
On June 6, Squire Patton Boggs’ Miami office hosted the Brazil-Florida Business Council and its members for a discussion titled “Brazil Mid-Year Outlook: The Bolsonaro Administration Scorecard.” The program featured two prominent speakers, Paulo Leme, former CEO and Chairman of Goldman Sachs Brazil and Professor of Finance at the University of Miami Business School, and … Continue Reading
Last month Squire Patton Boggs Moscow Office Managing Partner Sergey Treshchev spoke at the 25th Annual IBA Global Insolvency and Restructuring Conference in São Paulo, Brazil. Sergey, who is also Co-Chair of the Legislation and Policy Subcommittee, IBA Insolvency Section, was a participant in the roundtable discussion on ‘The Impact of technology on insolvency: cryptocurrency … Continue Reading
On April 15, the Brazilian National Petroleum Agency (ANP) scheduled the 6th bidding round for the pre-salt under the partnership agreement to be held on November 7. The hearing to discuss pre-notice and drafts of the production sharing agreements will be held on May 6. Companies interested in participating in the bidding must communicate their … Continue Reading
Brazil has taken another important step towards the battle against corruption. In August 2018, Brazil enacted Decree-Law No. 9,468/18, which provides broader power to the Public Transparency and Anti-Corruption Council, public entity subject to the Secretary of Transparency, Supervision and Control of Brazil. Under the law, the Council’s purpose is to discuss ideas and suggestions … Continue Reading
On August 14, 2018, after eight years of debates and drafting in the National Congress, Brazilian President Michel Temer sanctioned Law No. 13.709/2018, which regulates the General Data Protection in Public and Private Sectors. The General Data Protection Law is the first legislation in the country that provides for the data protection of individuals and … Continue Reading
Agency, distribution and sales representation agreements are commonly used means for a business to expand its geographical reach without setting up a permanent establishment in a foreign country. While there are many elements to creating a successful commercial relationship, from a legal standpoint, knowledge of the legal framework in each target jurisdiction is essential to … Continue Reading
September 19, 2017 – Paula Galhardo, Of Counsels at Squire Patton Boggs, will participate on a panel discussion on “Key Issues in International Agency and Distribution Agreements: Focus on Brazil, Colombia, Mexico and U.S.” at the Houston Bar Association’s Corporate Counsel Section Luncheon. Panelists will review the areas that most directly affect distribution and agency agreements: anti-corruption, termination, penalties, … Continue Reading
The Brazilian Senate has recently approved Law No. 13,467/2017 (the “New Law”) to amend the Brazilian Labor Code (Consolidação das Leis do Trabalho – CLT) and related regulations. The purpose of the labor reform is to lead to the creation of new jobs and reduce unemployment rates, through the implementation of less restrictive rules, which are consistent … Continue Reading
Brazilian President Michel Temer will submit a bill to modify the Brazilian Aviation Code and allow foreign capital to own 100 percent of any Brazilian airline. If approved by Congress, the new ruling will end the existing 20 percent limitation. The measure comes as part of the Government’s strategy to boost tourism industry in the … Continue Reading
Provisional Measure 752/16 (“MP 752/16”) established new rules for the extension and rebid of airport, highway and rail concessions under the Investment Partnership Program (“PPI”). A major feature of this provisional measure is the possibility of extension of highway and rail concessions without a new tender, pursuant to the existing concessionaire’s commitment of making further investments … Continue Reading
In the midst of a high-profile corruption scandal that is changing the country, Brazil’s new government faces a challenging goal: to restore economic growth and regain foreign investors’ confidence. President Michel Temer (who replaced Dilma Rousseff after her impeachment) will serve until the next presidential election in 2018, and is working with a new economic … Continue Reading
