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ARTICLE · 20 JULY 2022

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Brazilian Congress Passes Bill Fostering Antitrust Damages Claims

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On July 12, 2022, the Brazilian Congress passed crucial modifications to the Brazilian Competition Act (Law No. 12.529/2011) fostering antitrust damages lawsuits.

BrazilAntitrust/Competition Law

On July 12, 2022, the Brazilian Congress passed crucial modifications to the Brazilian Competition Act (Law No. 12.529/2011) fostering antitrust damages lawsuits. The bill will soon be sent to the President, and if signed into law, it will become effective upon publication on the Brazilian Federal Registry1.

The innovations increase the awards due by cartel members, now fixed as double the damages sustained by the injured parties. On the other hand, the bill also grants benefits to parties who cooperate with the Brazilian Antitrust Authority (CADE) during investigations (either through leniency or settlement agreements), shielding them from double damages awards and from joint and several liability in the payment of these claims.

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This article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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