After regulation of sanctions dosage, ANPD begins to apply penalties.
By: Leonardo Neri Recently, the president of the National Data Protection Authority (“ANPD”), Waldemar Gonçalvez Ortunho Júnior, gave an interview in which he reported that the aforementioned authority already has eight administrative proceedings underway. For your information, last year (2022), the Regulation on Dosimetry and Application of Administrative Sanctions was made available, the […]
Judicial Recovery to gain time?
By: Vitor Ferrari and Ivan Kubala In the first years of the validity of Law 11.101/05, whose text deals with the judicial recovery procedure, low-credibility research consolidated the fallacy that very few companies managed to approve their judicial recovery plan, and of these, only 1% survived the procedure and restructured. Due to this […]
CVM Resolution No. 160
By: Antonio Mazzuco and Luiz Gustavo Doles The beginning of 2023 brought several new dynamics to the Brazilian capital market, especially when we talk about securities issuances, since CVM Resolution No. 160, of July 13, 2022, came into force on January 2, 2023, bringing innovations in the issuance […]
Need for Registration with the Commercial Board for granting RJ for rural producers.
By: Vitor Ferrari and Ivan Kubala As stipulated by the Brazilian legal system, the entrepreneur who wishes to obtain approval for the judicial recovery process for his company must, mandatorily, comply with certain prerequisites, among which are: regularly exercising, up until the time of the request, his activities for at least 2 years; and being duly registered with the […]
Important information about CADE and an example of its performance in market competition
By: Leonardo Neri Administrative Council for Economic Defense “CADE”, what is this agency that has been gaining an ever-increasing space in the legal world? Initially, it is important to clarify that it is an agency that is responsible for investigating and deciding on possible anti-competitive conduct, understood as those conducts adopted by an economic agent that may cause […]
Cram Down
By: Vitor Ferrari and Ivan Kubala Created by American Law and present in Chapter 11 of the USC, Cram Down is an institution that grants the judge responsible for the judicial recovery process powers to approve the judicial recovery plan prepared by the recovering party, even if some of the creditors oppose the proposed guidelines. Therefore […]
Bad faith and due diligence
By: Antonio Mazzucco and Luiz Gustavo Doles At the time of any type of acquisition, it is necessary for the purchaser to protect himself to avoid a future discussion about the validity of the transaction. In this sense, it is necessary to carry out a procedure of analysis of the documentation related to the object of what is being purchased and the seller, […]
Judicial Recovery of Lojas Americanas and its Stakeholders
By: Vitor Ferrari and Ivan Kubala After a thorough accounting analysis of Lojas Americanas’ economic indicators, the team of the company’s new CEO, Sérgio Rial, found a fiscal deficit of approximately R$40 billion, a value much higher than the company’s total net worth, which is around R$12 billion. According to the company itself, […]
STF resumed the trial on the discussion of res judicata in tax matters
On February 2, 2023, the Brazilian Supreme Court (“STF”) resumed the trial of two extraordinary appeals, with general repercussions, RE 955227 (Theme 885) and RE 949297 (Theme 881), which discuss the limits of res judicata in tax matters. The STF formed a majority in the sense that the effects of […]
Means of negotiation in Judicial Recovery – Haircut
By: Vitor Ferrari and Ivan Kubala Upon having its judicial recovery granted by the competent Court, the Company Under Reorganization must present its Judicial Recovery Plan to the creditors qualified in the process. This document will contain the means and tactics to be used by the debtor so that the credits are paid within the process, which may […]