lexlink2025

Brazil: Central Bank of Brazil holds a public consultation on the regulation of foreign credit and direct foreign investment

1 August 2022

August 2022 – Brazil – Rossetti Advogados The Central Bank of Brazil approved, on July 19, public consultation notice No. 91/2022, about a proposed normative act to regulate foreign capital in Brazil regarding foreign credit transactions and direct foreign investment. According to the Central Bank, the proposal seeks, first, to regulate certain aspects of the…

Find out more

Brazil: Liability Of Former Members For Debts Of Limited-Liability Companies

27 June 2022

July 2022 – Brazil – Rossetti Advogados As a rule, in limited-liability companies the members are not liable for the obligations assumed by the company. In fact, companies have what is called “legal personality,” which results in acknowledgment of their separation and independence from their members. However, in certain situations the law permits the piercing…

Find out more

Austria: The End of the Austrian Limited

5 May 2022

May 2022 – Austria – TAIYO Legal In order to circumvent the capital raising requirements of the Austrian Limited liability company (GmbH), it was common practice for Austrian businesses to establish a Limited Liability Company in the UK. Once the LLC was established for a few Euros, a branch office was set up in Austria. The main business then…

Find out more

Brazil: Changes In The Rules On The Public Registration Of Companies

2 May 2022

May 2022 – Brazil – Rossetti Advogados The National Corporate Registration Department of the Ministry of Economy (“DREI”) enacted, by means of Normative Instruction No. 112 of January 20, 2022 (“IN No. 112”), measures that change the rules for the public registration of companies, seeking to benefit businesspersons and entrepreneurs. One of the measures is…

Find out more

BRAZIL: ANNUAL APPROVAL OF MANAGEMENT DOCUMENTS

7 April 2022

April 2022 – Brazil – Rossetti Advogados In Brazil, pursuant to article 132 of Law 6.404/76 (“Corporation Law“) and to article 1.078 of the Brazilian Civil Code, corporations and limited-liability companies must, at least once a year, during the four months following the end of their fiscal year, call and hold the Annual Shareholders’ Meeting (“AGO”) or…

Find out more

Austria: Inadmissible contract clauses in building savings contracts

6 April 2022

April 2022 – Austria – TAIYO Legal In a recent decision, the Austrian Supreme Court dealt with contractual clauses in building savings contracts. As a rule, these contracts were concluded for a term of six years. An account management fee was charged for each calendar year started. If the agreed term was not adhered to…

Find out more

Austria: Late Withdrawal from Cash Value Life Insurances

5 April 2022

March 2022 – Austria – TAIYO Legal When cash value life insurance policies are taken out, the insurer has a duty to provide information. In the event of violations, policyholders could still demand a refund years later – usually when the insurance performed poorly. To stop this practice, the law was amended in 2018. Under the new rule, one only got…

Find out more