Category

Brazil

Category

As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, and governments and health authorities work tirelessly to defeat it, major economies are experiencing mounting pressure as consumer spending, production and investment are drastically curtailed due to virus-related risks.We recognize that many of our clients are also facing significant and urgent business impact and legal challenges.Our Baker McKenzie teams across the world are working with clients, regulators and various authorities to produce a…

Introduction

The 2nd Court of Bankruptcy and Judicial Recovery Cases of São Paulo recently found invalid a chattel mortgage securing an interchangeable chattel good (i.e. iron ore) offered to a foreign financial institution not authorized by the Brazilian Central Bank to operate in Brazil. According to the ruling, only Brazilian or foreign financial institutions authorized to operate in Brazil may receive a chattel mortgage offered to secure interchangeable goods.