Brazilian Law – International Law of ABA – American Bar Association

By Alexandre Leite Ribeiro do Valle, Daniel Stein, Fernanda P. do Amaral Gurgel e Rogério Damasceno Leal – Published by ABA – American Bar Association

III. BRAZIL
A. Clean Record Law
On July 4 2010, Complementary Law No. 135/2010,1 popularly known as the “Clean Record Law,” was enacted, changing Complementary Law No. 64/19902 and dictating new parameters for the ineligibility of public elective offices in Federal, State, and Municipal spheres, aiming to protect the administrative probity and morality in the performance of public functions.3
This law resulted from the Clean Record Project, a Brazilian campaign that intended to improve the quality of the candidates in public elective offices. The law, which was signed by over 1.3 million Brazilian voters–representing more than one percent of the total Brazilian voters–was delivered to the Brazilian National Congress on September 29, 2009.4
Law No. 135/2010 has made ineligible State and Federal District Governors and Vice-Governors, as well as Mayors and Vice-Mayors who have lost their mandates for infractions to State, Federal District, and Municipal Constitutions, respectively, including those who have resigned from their mandates to avoid impeachment.5 (more…)

MERGER AND ACQUISITION

Published at: International M&A and Joint Ventures Committee Newsletter – December 2010

As expected 2010 proved to be a very wealthy year to Brazilian economy, with direct reflect into Merger and Acquisitions market. Recent researches show that the number of transactions has surpassed the record accounted in 2007 when almost 700 transactions were registered.

During 2010, without considering the month of December, 707 M&A transactions were held, representing an increase of more than 50% of the number registered during 2009. (more…)