Brazil: Corporate/Commercial Law

This newsletter examines five recent Brazilian court decisions addressing critical corporate law issues, including shareholder meeting irregularities, due diligence limitations in SPE acquisitions, and the enforceability of non-solicitation clauses. The analysis explores how courts balance contractual freedom with corporate governance principles in disputes involving share redemptions, risk allocation in M&A transactions, and the legal treatment of pre-operational capital contributions.

A Receita Federal estabeleceu novo entendimento sobre a tributação de parcelas complementares em operações de alienação de participação societária sujeitas a condições suspensivas. A Solução de Consulta COSIT nº 96/2026 diferencia o tratamento tributário entre pagamentos contingentes e preços determinados, com impactos significativos na aplicação das alíquotas progressivas de IRPF sobre ganho de capital.

Regulation adjusts risk-based inspection and self-control framework, amends establishment registration, registration deadlines, and the sanctioning regime in the sector regulated by MAPA...

Brazil's health regulator ANVISA has published four public consultations that fundamentally reshape the regulatory framework for medical device reprocessing, moving from a prohibited-products list to a risk-based validation system. The proposals shift responsibility for reuse decisions to healthcare facilities while imposing new labeling requirements and authorization obligations on manufacturers, importers, and processing companies.

Juliane Mendonça, head of Corporate Criminal Law at KLA, contributes a chapter examining the criminal liability of intermediaries in bribery cases involving public officials. The work addresses a controversial question in Brazilian jurisprudence: should an intermediary who facilitates the receipt of undue advantages by public officials be charged with active or passive corruption?

A partir de 13 de outubro de 2026, o Conselho Monetário Nacional estabeleceu novas restrições significativas para FIDCs e FIC-FIDCs na aquisição de créditos decorrentes de ações judiciais e procedimentos arbitrais. A medida exige que créditos possuam liquidez, certeza e exigibilidade em caráter definitivo, incluindo trânsito em julgado, impactando profundamente o mercado de special situations e legal claims no Brasil.

Attorney Francisco Mont' Alverne joined the partnership of KLA Advogados this February, strengthening the firm's Corporate, M&A, Private Equity and Venture Capital practices.

O advogado Francisco Mont' Alverne passou a integrar neste mês de fevereiro o quadro de sócios do KLA, fortalecendo as áreas de Direito Societário, M&A, Private Equity e Venture Capital.

O especialista em prospecção no mercado jurídico Bruno Strunz recebeu Karin Alvo para um papo sobre carreira, cultura organizacional e desenvolvimento de negócios; podcast traz insights sobre relações com o cliente, formação de equipes e crescimento sustentável...

Brazil has enacted comprehensive legislation establishing a National Policy on Critical and Strategic Minerals, creating new regulatory frameworks that will fundamentally reshape how mining companies operate in the country. The law introduces mandatory revenue allocations, a new guarantee fund structure, and a council with broad approval powers over corporate transactions and international agreements.

Business development is measured by growth, marketing by visibility, investor relations by market confidence, and human resources by attracting talent. Together, these functions shape the public image of an organisation and, increasingly, its compliance profile.

This newsletter examines five recent Brazilian corporate law decisions addressing poison pill mechanisms in public companies, usufruct rights over quotas during partner withdrawal, voting impediments in account approval, quota transfers in real estate SPEs, and self-contracting in quota assignments. The analysis explores how courts are interpreting statutory protections, partner rights, and the temporal limits for challenging corporate transactions.