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"Tauil & Chequer Advogados (T&C) is a full-service law firm, offering clients in-depth local knowledge combined with a global reach. The firm has more than 80 lawyers in Bra..." read more
"Advocacia Fernando Rudge Leite is a national Brazilian law firm with its headquarters in the city of São Paulo and three regional offices in Brasília, Rio de Janeiro and Curitiba. ..." read more
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Legal market overview

It is certainly clear that, while Brazil remains an attractive investment option at a global scale, it has lost a little of the allure acquired when the country was initially identified as one of the BRIC group of key emerging economies, and subsequently went on to be awarded the FIFA World Cup and the Summer Olympics. While the Brazilian economy continued to grow during 2012, its slowing from 2010’s heady 7.5% to less than half that last year did not promote a perception of economic well-being; the first quarter of 2013 saw continued poor performance with growth of just 0.6%, although annual forecasts project a better year than 2012.

The legal market has seen considerable movement, not only of individual lawyers, but also in terms of spin-offs and splits: two cases in point being the establishment of Stocche Forbes in September 2012, formed by two groups lawyers from leading players Souza, Cescon, Barrieu & Flesch Advogados and Machado, Meyer, Sendacz e Opice – Advogados; and the more recent division of Xavier Bragança Advogados in June 2013, giving rise to Xavier, Duque-Estrada, Emery, Denardi Advogados and Bragança Advogados, respectively. Since this latter division, Bragança Advogados has subsequently announced its merger into growing full service player Veirano Advogados.

Leading Brazilian firms, Barbosa, Müssnich & Aragão, Machado, Meyer, Sendacz e Opice – Advogados, Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados, Pinheiro Neto Advogados, and Tozzini, Freire, Teixeira e Silva have largely maintained their top market positions, capturing a healthy proportion of transactional activity. 2012 did, however, see the termination of the twelve-year-old association between Lefosse Advogados and Linklaters as a result of the Brazilian Bar Association clamp down on international tie-ups. Campos Mello Advogados, Tauil & Chequer Advogados in association with Mayer Brown LLP and Trench, Rossi e Watanabe Advogados, associated with Baker & McKenzie all continue as practices associated with foreign firms.

With corporate activity subdued by comparison with previous years, the capital markets primarily saw debt-side activity. The competition sector did see significant developments, however, with the consolidation of all relevant regulatory powers in one administrative agency, CADE (Conselho Administrativo de Defesa Econômica) and introducing a new pre-merger notification system that brings Brazil further into line with international practice. The proposed new mining code has also received a cautiously positive reception, with lawyers regarding the balance between promoting investment, simplifying regulation and increased royalties as more or less in line with industry expectation.

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Legal Developments worldwide

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  • Licensing of Jersey LLPs to conduct fund services business

    Jersey limited liability partnerships (LLPs) can now be licensed to conduct 'fund services business' as a general partner, manager, investment advisor or investment manager under Jersey's financial services legislation.    Read more...
  • Maintenance And Preservation Of Partnership Structure In M&A Transactions

    The one of the most significant principle in an M&A transaction is "the principle of maintenance of partnership structure" (or the maintenance principle) under Turkish Commercial Code. As is known, result of a merger and acquisition transaction affects two main actors: the first one is the company itself and the second is shareholders of the company in fact maintenance of the partnership structure is a result of the second affect of an M&A transaction.
  • Mediation In Turkey: An Alternative Method For Dispute Resolution

    Mediation as an alternative dispute resolution has been regulated by European Union Directive 2008/52/EC providing the application of mediation for civil and commercial cases in the member states of the European Union ("EU"). In some of the Member States of the EU the mediation is recent and has been regulated short time ago by their national laws and mediation has been enacted by a separate law.
  • Tariff Disputes In Turkey And Alternative Methods For Resolution

    Customs duties can be examined within the scope of two types of taxes which are expenditure tax and excise (Indirect) tax. Customs duty can be described as an expenditure tax. Expenditure taxes are for the services and goods produced sold or consumed. Customs duties are type of excise (indirect) tax as well because taxpayers reflect custom duties to consumer by including the tax into the prices of the goods to be sold. Taxable event, time and who to bear are not certain.
  • The Taxation Perspective In Liquidiation Of Turkish Companies

    As well as the company establishment, an investor may take decision for termination of his/her company or a company's termination conditions stated in the laws may occur such that start of a liquidation process becomes unavoidable for the company. Liquidation process is a period which may take long time and in which a company's transactions and taxation procedures are subject to different terms and conditions than a general operation of company's activities.
  • New Opportunity For The Turkish Energy Market: The Eastern Mediterranean Gas Fields

    The high economic growth of Turkey which has been going on for more than a decade now intensified Turkey's need for more energy. It is estimated that Turkey is going to need a substantial volume of energy which will amount to a 7 % annual growth for the Turkish energy market until the year 2023.
  • Corporate Governance In Turkey: Lessons From The American Experience

    Corporate governance serves as a tool in order to ensure accountability, transparency and responsible management on the part of the enterprises which have increasingly been finding themselves in a more competitive world. Such practice is not only necessary because it results with efficiency in a world where the sine qua non of market survival heavily depends on better and more effective management but also because it mitigates the ill effects of corrupt practices that might develop within the firms.
  • Turkey And Aircraft Financing Junction: Sukuk Issuing

    Despite a slowdown in 2013 with 13% decline by sukuk volume, it is most likely to witness a distinct expand in next year since it will lie beyond Gulf region. UK, Luxembourg and Hong Kong will be hot players in sovereign sukuk market. Sukuk volume boost will predominantly substantiate by corporate issuers operating in regulated markets as a financing tool for their prospective investments. Particularly, extensive need in infrastructure financing will trigger sukuk issuance in the upcoming years. The fundamental reasons for the attractiveness of sukuk are its liquidity, functionality on trade and being rateable in terms of issuer country
  • LNG Market In Turkey

    Currently, the importance of the Liquefied Natural Gas ("LNG") has come to the fore with the discussions concerning the probable problems in natural gas import to the Europe due to the Crimean Crisis. According to the experts' opinion, the LNG import to the Europe may increase in the near future depending on the decrease of the natural gas import. In brief, the LNG plays an essential role as an energy resource.
  • Is Data Exclusivity An Advantage Or An Obstacle For Pharmaceutical Companies In Turkey?

    Turkish pharmaceutical policy has changed radically and made progress starting from the last decade. In the meantime, some controversial topics such as reimbursement, pricing, authorisation, intellectual property rights, and quality and harmonisation process with the EU were and in fact still are the highly disputed issues. As a consequence of EU harmonisation process, patent, data protection and data exclusivity are one of the foremost areas of the debate. Within the framework of bilateral or multilateral agreements (TRIPs, Customs Union Agreement with the EU) Turkey needed to apply the international terms and conditions of patent and data protection

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • Hengeler Mueller advises GlaxoSmithKline on its major multiple-part interconditional transaction...

    Hengeler Mueller is advising GlaxoSmithKline (GSK) on German corporate and real estate aspects as well as German employment and pensions aspects on two parts of the major three-part interrelated transaction with Novartis announced on 22 April 2014. The two parts of the transaction include GSK and Novartis combining their respective Consumer Healthcare businesses to form a new world-leading Consumer Healthcare business and GSK acquiring Novartis' global Vaccines business (excluding influenza vaccines) for an initial cash consideration of US$5.25bn with subsequent potential milestone payments of up to US$1.8bn and ongoing royalties.
  • Hengeler Mueller advises Talanx on first secondary listing of a German company on the Warsaw Stock E

    Talanx AG today successfully completed its listing on the Warsaw Stock Exchange. Following its IPO in Germany in 2012, Talanx shares are now also tradable in Warsaw (with a market capitalisation of just under €6.9bn). Talanx is the first German company with a secondary listing on the Warsaw Stock Exchange. The transaction was carried out by way of a special transaction structure concerning tradability and certification of the shares.
  • Mikhail Aleksandrov was a moderator of the discussion in the International Forum...

    Mikhail Aleksandrov, Partner of DS Law, moderated the panel discussion «Capitalising on New Large-Scale Opportunities in the Russian Infrastructure Sector».
    - DS Law
  • DS Law participated in the Lawyers Career Day in the MSLA

    On April 4 DS Law.Attorneys participated in the 8th exhibition-forum "The Lawyers Career Day" in the Moscow State University of Law by the name of O.E.Kutafin (MSLA) dedicated to the professional growth and career of associates.
    - DS Law
  • Mikhail Aleksandrov moderated the discussion in the Forum "Private Equity and Venture Capital"

    Mikhail Aleksandrov, Partner of DS Law.Attorneys, moderated the panel discussion "Capitalising on Large-Scale Opportunities in the Russian Infrastructure Sector" in the 10th International Forum "Private Equity and Venture Capital". The Forum was organized by C5.
    - DS Law
  • Pepeliaev Group at the 10th annual Legal Forum

    Pepeliaev Group has become the partner at Vedomosti newspaper's 10th annual legal forum, which will be held in Moscow on 17-18 April 2014. It is noteworthy that, 10 years ago, it was Pepeliaev Group that was the driving force behind the first forum. Now the event has become a landmark occasion in the Russian legal calendar. Over the last decade, major business figures have come together every year, hosted by the newspaper Vedomosti, to discuss the most pressing issues facing the legal sector and Russia's judicial system. The first day of the conference will feature a plenary session ‘Deoffshoring the economy and creating a favourable business environment', with Sergey Pepeliaev, managing partner of Pepeliaev Group, taking the chair.
  • Round table “Improvement of the transparency and effectiveness in the work of the Supreme Administ

    A round table was held on 15/04/2014 in "Sheraton" hotel in relation to the financed by OPAC project  "Improvement of the transparency and effectiveness in the work of the Supreme Administrative Court (SAC)". /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;}
  • “Popov and partners” will consult the Supreme Judicial Council

    In the beginning of April 2014 the Supreme Judicial Council chose "Popov & Partners" Law Office for consultant in the preparation of documentations according to the Public Procurement Act for selection of contractors for the supply of goods and services to ensure the institution's activities in the period between 2014 - 2015.
  • Kim & Chang: Korea Law Firm of the Year – The Macallan ALB Hong Kong Law Awards 2013

    Kim & Chang was selected as ‘The Korea Law Firm of the Year' at the Macallan ALB Hong Kong Law Awards 2013, surveyed and announced by ALB (Asian Legal Business), a renowned legal publication in Asia owned by Thomson Reuters.
  • Kim & Chang recognized as one of world’s top 10 pro bono firms- Who’s Who Legal Pro Bono Survey

    Kim & Chang was recognized as one of the top 10 pro bono leading law firms in the world according to Who's Who Legal Pro Bono Survey 2013 , published by Who's Who Legal, an international legal media. Kim & Chang is the only Asian firm to be selected.