Judicial Recovery of Samarco
By: Antonio Mazzucco and Vitor Antony Ferrari Years after the environmental disaster in Mariana (MG), the mining company responsible, Samarco, is facing financial difficulties and is forced to file for Judicial Recovery to avoid closing its doors. However, the recovery plan presented to creditors was rejected, and the reins were taken over by the Financial Creditors. In […]
New Rules for Crowdfunding
By: André Jerusalmy Last Tuesday, June 28, 2022, the Brazilian Securities and Exchange Commission (CVM) published CVM Resolution No. 158, which amended CVM Resolution 88 (“Resolution 88”), which deals with the rules for carrying out collective financing of projects, also known as crowdfunding, and which will come into effect […]
CVM issues 27 new Resolutions related to Decree 10.139/19 – Accounting Standards Update
By: André Jerusalmy On May 20, 2022, the Accounting and Auditing Standards Superintendence (SNC) of the Securities and Exchange Commission issued 27 resolutions. This measure is part of the strategy of reviewing and consolidating normative acts below the decree, determined by Decree 10.139/2019. The resolutions are: CVM Resolution 90: consolidates CPC 01 (R1) and revokes […]
STF will decide the constitutionality of an isolated fine of 50% applied to non-approved compensations.
STF decidirá constitucionalidade da multa de 50% em caso de DCOMP não homologada. Os ministros do Supremo Tribunal Federal (STF), retomaram em 1º de junho de 2022) o julgamento do Recurso Extraordinário (RE) nº 796.939 e da Ação Direta de Inconstitucionalidade (ADI) nº 4905, em que se decidirá se o fisco pode cobrar multa dos […]
M&A: Acquisition of Shares and Assets
By: Antonio Carlos C. Mazzucco and Fernanda Lazzarini There are basically two ways to acquire a company: By acquisition of shares or quotas, which refers to the acquisition of a legal entity with all its assets and liabilities through the transfer of ownership of the company's quotas or shares; and By acquisition of assets, […]
Mandatory Communication with the CVM on corporate demands by publicly traded and foreign companies
By: André Jerusalmy On May 13, 2022, the Superintendence of Corporate Relations (SEP) of the Brazilian Securities and Exchange Commission (CVM) released Circular Letter CVM/SEP 3/2022 (“Letter”), with guidelines on the indispensability of communicating to the CVM regarding corporate lawsuits in which the issuer, shareholders or administrators appear as parties and which contemplate the characteristics […]
DIFAL: ADIs 7066 and 7075 have preliminary injunctions denied
No último dia 18 de maio, o Ministro Alexandre de Moraes indeferiu as liminares pleiteadas pela Associação Brasileira da Indústria de Máquinas e Equipamentos (ABIMAQ) e pelo Sindicato Nacional das Empresas Distribuidoras de Produtos Siderúrgicos (SINDISEDER) nas Ações Diretas de Inconstitucionalidade (ADI’s) nºs 7066 e 7075. Os pedidos objetivavam suspender a exigibilidade do diferencial de […]
Court decision involving LGPD causes controversy
By: Leonardo Neri In May 2022, a ruling was handed down by the 39th Civil Court of São Paulo, regarding a lawsuit filed by a confidential NGO against Nubank, which caused controversy among experts in the matter. The aforementioned decision dismissed the public civil action without resolution of the merits. The ruling in question brought in its […]
Importance of Privacy and Data Protection in an M&A
By: Leonardo Neri A merger and acquisition (M&A) operation represents the business pinnacle of the capitalist system, as it portrays the success in creating value by two companies in the market, one that achieves success in implementing an idea and is acquired by another that has greater financial volume and, therefore, will be willing […]
CVM releases study on ESG and the capital markets
Por: André Jerusalmy No dia 26/05/2022, a Comissão de Valores Mobiliários (CVM) publicou o estudo “A agenda ASG e o mercado de capitais – Uma análise das iniciativas em andamento, os desafios e oportunidades para futuras reflexões da CVM”. O estudo trata sobre a relação entre a agenda ambiental, de regulação, social e de governança […]
