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The approach of the new rule proposed is similar to that of CVM Instruction No. 622, which regulated digital meetings for publicly-traded companies in Brazil. The measure is part of a package of rules issued to tackle the challenges presented by the covid-19 pandemic.
Measure contributes to modernizing the Brazilian notary system, which can help boost the economy and real estate businesses that rely on the services of notary offices.
Notwithstanding that the Covid-19 pandemic has drastic consequences, it also proves to be a unique opportunity for driving technological innovations in the judicial system. One example is the adoption of virtual conciliation hearings, which encourages the resolution of disputes through settlement.
Anvisa has published four resolutions to enable access to important products in the fight against the covid-19 pandemic, such as medicines, sanitizers, equipment, and medical devices.
Partners, shareholders, or associates will be able to send a remote voting ballot or participate in the meeting remotely using an electronic system accessible to all.
TJ-SP has developed a pre-trial conciliation and mediation option for business disputes, which can avoid overloading the courts and offer a faster and more effective response to disputes caused by the pandemic.
The bill does not take into account that many companies, without a demonstrable economic justification, may stop any payments to creditors knowing that, within the period of extraordinary legal protection, they will be immune to the ordinary legal measures provided for the Brazilian legal system and contracts.
Companies that had already adapted their practices, procedures, and policies according to Executive Order 905/2019 should adjust such changes again due to its revocation. A new Executive Order will likely deal only with the Green and Yellow Employment Contract.
The state of public calamity in Brazil has loosened State financial controls. The measure may help to reduce the economic impacts of the covid-19 pandemic, but it ends up exposing the national budget of Brazil to the default risk.
Given the difficulties caused by the covid-19 pandemic, the market authority has extended to other issuers the new deadlines granted to publicly-held companies for releasing annual financial statements and quarterly reports.
The goal is to streamline and simplify various procedures to accelerate the raising of funds from multilateral organizations to finance projects related to combating the covid-19 pandemic. States and municipalities, public banks, and development agencies are the primary beneficiaries.
The possibility of remote participation must be included in the notice calling the meeting, which must also detail the procedures for registration for, access to, and use of the system.
With Bill No. 675/20, the Brazilian Chamber of Deputies wishes to prevent the credit history of "good payers" from being harmed by problems with default during the pandemic. The suspension would last until June 20.
Set forth by Decree No. 10,306/20, the use of BIM methodology in the execution of construction projects and engineering services for the federal government may be a key differentiation in facing the covid-19 crisis. The efficiency added by BIM may help deliver cost effective public works projects and contribute to economic recovery. The methodology may also support rebalancing proceedings, investment rescheduling, and renegotiations in public works contracts, which are expected to increase as a result of the pandemic.
With executive orders 949 and 950, the Brazilian government transfers 900 million Brazilian Reais to electric companies in order to offset the discounts granted to low-income consumers and establishes emergency solutions for the sector.