4 October 2023
Last September 19, the Senate approved the bill (PL No. 2.646/2020) that creates infrastructure debentures, to be issued by public-utility companies. Debentures are negotiable instruments representing loans issued by companies and may be acquired by individuals or legal entities on the market, remunerated by interest and adjustment for inflation until full payment. The bill provides…
13 September 2023
On August 21, 2023, the Brazilian Securities Commission (CVM) disclosed Guiding Opinion No. 41/2023, the purpose of which is to provide general guidelines on Football Corporations (SAF) and the Securities Market. Law 14.193 of August 6, 2021, also known as “SAF Law,” introduced the SAF in the Brazilian legal scenario, allowing the incorporation of joint-stock…
8 August 2023
Last July, the Chamber of Deputies approved in two rounds Constitutional Amendment Bill No. 45/19 (PEC), which proposes the long-awaited tax reform in Brazil, accompanied by a new tax structure. The PEC will now be forwarded to the Senate, where it will probably be voted on in the second half of this year, after the…
14 July 2023
The Ministry of Finance sent to the Brazilian Congress Bill No. 2.925/23, which is considered one of the most important amendments to the Corporation Law (Law No. 6.404 of December 15, 1976 – “Corporation Law”) of the last two decades. In addition to amending the Corporation Law, the bill also proposes amendments to Law 6.385/76,…
7 June 2023
In a recent decision, the 1st Reserved Chamber of Corporate Law of the São Paulo Court of Appeals authorized levy of execution upon property of two members of a company for the payment of assets to a former member, due to enforcement of an action for partial dissolution of the company. The action for partial…
15 May 2023
By means of a preliminary injunction, the Federal Supreme Court (“STF”) justice André Mendonça stayed the processing of all actions in Brazil that challenge the legality of Federal Law No. 5.709 of October 7, 1971 (“Law 5.709/1971”) and of Decree No. 74.965 of November 26, 1974, which govern the purchase of rural properties by foreigners….
13 April 2023
April 2023 – Rossetti Advogados In a recent trial, the 3rd panel of the Superior Court of Justice (STJ) (REsp 1.824.891) decided that large-sized limited-liability companies, which are those that had, individually or jointly with other companies under common control, in the previous fiscal year, total assets equal to or in excess of R$240,000,000.00 or annual gross…
6 March 2023
On December 22, 2022, Law No. 14.478/2022, which regulates the market for crypto assets in Brazil, was signed into law. The new rule defines virtual assets, lays down general guidelines for the provision of virtual asset services, and includes in the Penal Code the crimes of fraud with the use of virtual assets, securities, or…
3 February 2023
February 2023 – Rossetti Advogados The new legal framework for the Brazilian exchange market took effect last December 31, 2002. It was established by Law 14.286 of 2021, which changed the rules for currency transactions in Brazil, abroad (for Brazilians), and the form of provision of information to the Central Bank of Brazil. The new…
2 November 2022
November 2022 – Brazil – Rossetti Advogados Law No. 14.451 was published on September 22, 2022, amending articles 1.061 and 1.076 of the Brazilian Civil Code, which relate to the quorum necessary to pass resolutions in limited-liability companies with respect to certain matters. Article 1.061 of the Brazilian Civil Code provided that the quorum to…
