The Brazilian Senate is discussing a Bill of Law named Brazilian Law on the Liberty, Responsibility and Transparence at the Internet. We are against such Bill of Law because it imposes censorship on the freedom of opinion and speech. One may simply ask this question: Who will decide whether a news is or it not […]
The IPI tax increase of 30 percentage points adopted by the Brazilian government this September of 2011 for some imported vehicles is utterly unconstitutional. The IPI tax is based on two principles: selectivity and essentiality. Discrimination is not allowed on the basis of origin of the product. Importers and their customers in Brazil are therefore […]
Dr. Claudia Barmann Bernard Rechtsanwältin / Consultant consultoria@pradogarcia.com.br I. Introduction Globalization and international trade as well as Brazils growing economy have increased companies’ activities in the country including the needs to enforce judgments or arbitral decisions awarded in their favor. Foreign judgments can only be enforced or will have any other effects in Brazil after recognition […]
The Brazilian Superior Federal Court (Superior Tribunal de Justiça – STJ) has recently decided that the jurisdiction of Brazilian courts can not be excluded in contracts executed in Brazil even if the contract contains a valid choice of venue and forum selection clause. It should be noted that the Brazilian Supreme Court (Supremo Tribunal Federal – […]
According to the Supreme Court ruling social security tax debt can only be claimed during a period of five years, not ten years as currently practiced by the administration. In its Session on June 11, 2008, the Court declared articles 45 and 46 of the law nº 8.212/91 unconstitutional. Articles 45 and 46 established a time […]
After S&P upgraded Brazil’s credit rating to investment grade on April 30, Fitch Ratings followed on May 29 granting Brazil investment grade status. The upgrades by both agencies recognize the country’s fiscal stability and debt management policies and reflect, amongst other factors, economic growth and the governments control over inflation. S&P raised the country’s […]
The Brazilian Government has launched a new development program named Productive Development Policy (PDP). PDP has three purposes: 1.- To foster investments in 25 strategic sectors and to increase Brazilian exports 2.- To stimulate development in the informatics and in the biotechnology industries 3.- To consolidate the Brazilian leadership in agribusiness, civil aviation and mining PDP […]
Prado Garcia Advogados is pleased to announce that Dr. Claudia Bärmann Bernard has joined our team as consultant for international, European and German Law, expanding our legal services in international commercial and corporate matters. Dr. Claudia Bärmann Bernard is a German lawyer and former judge with a doctorate of law. She is fluent in German, English and Portuguese. Dr. Claudia Bärmann Bernard […]
Stock Exchange:New Disclosure Requirements The Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários – CVM) has just established a new requirement whereby corporations with stock traded in the Brazilian Stock Exchange must disclose the identity of their individual shareholders provided that any such individual shall hold at least a 5% participation in the stock […]
The Brazilian real estate market is booming. Not only in the big cities. Many Brazilian construction companies are opening up to joint ventures with foreign investors or are going public as corporations with their stocks being issued and traded at the Stock Exchange (BOVESPA). What would seem impossible some decades ago has become a reality: real estate financing for as long […]